Episode Transcript
[00:00:43] Speaker A: Okay, coconut man, moon heads and pee.
You ready?
Seems like everybody's got a price I wonder how they sleep at night when the sale comes first and the truth comes second just stop for a minute and smile why is everybody so serious? Acting so damn mysterious got shades on your eyes and your heels so high that you can't even have a good time everybody look to their left everybody.
[00:01:18] Speaker B: Look to their right hey, everybody, welcome to money and change right here on the Trim radio network, trimradio.com. you have to check us out. We have a lot of good shows, but before we do anything, I have to let you know all music licensed is with the BMI Music license of 6105-1658 that's 6105-1658 that's our BMI music license, and we have to have that play music well before we start the show, a big disclaimer. The information contained in this presented material is from the posting of news agencies on the Internet and are not necessarily the views or opinions of the owners of this program. Nothing in the show should be considered legal, medical, financial, or investment advice. You should always do your own due diligence and your own research and consult with professionals. We are not responsible for, and especially disclaim all liability for damages of any kind arising out of use, reference to, or reliance on any information contained in this podcast.
But anyhow, guys, welcome to money and change. A lot of stuff going on. You know, last week we had a concert that we had to do and we had to do a rerun, in other words, encore edition.
And so this week is live and next week will be an encore edition. And from that point on, the rest of them are going to be live until we start the Christmas concert season.
But we do have some very good encore editions on money and change. Okay, so hang in there. And we've got a lot of good information for tonight. But before we go on, we've got a lot of shout outs. Big shout out to the Trim radio network for carrying the show, and a big shout out to the University of Finley at www.findly.edu. and Congratulations. The oiler football team is undefeated this year so far.
It looks like to be a pretty good season for them. Their NCAA division two.
Also, the volleyball team is doing very well, as well as cross country and other sports.
But if you're a good academic person and you want to go to a very good school, check out the University of Finley at www. Dot Fin Dley.
The University of Lofton is merging with the University of Finley and you can attend both campuses and you can get a master's. Actually, let's start at the bottom. Bachelor's degree, then a master's degree, then a doctoral degree at the University of Finley. And they have three campuses on the, in the city of Finley, the equestrian campus. And that's where usually the pre veterinary students are at, plus the equestrian students. And then you have the hazardous materials campus on the other side of Finley. And that's a very specialized study. Also, they have such things as your main degrees on the main campus. And it also includes a theological seminary there on campus, plus some of the sports facilities. They have a beautiful, beautiful indoor sports facility, indoor track and student activity area. Beautiful place, big place. And I've been there many times. I'll tell you what, anytime you get a full size indoor track inside a building, that's something else. And they haven't. Well, anyhow, that's the University of Findlay, located in Findlay, Ohio. An all american study. They have an excellent president of the campus, Doctor Kathy fell, and a great faculty and great staff and great students. A lot of international students go there too.
So if you want to get a degree, whether or not it's in business or I. Oh, education, English, whatever, check them out www.findly.edu. that's the University of Findlay. Also check out rusty ducks custom pens and blanks.
And Phil, over at Rusty Ducks custom pens and blanks will make you a custom pen, a presentation pen that you could present to any one of your best buddies, fraternity sorority members.
If you have, let's say you're in a school or a college or university and you have to have a presentation pen for one of your benefactors. Phil's the guide to do it. Okay. Rusty ducks custom pens and blanks. They're beautiful pens. Both Michael Bayhas and I both have pens, but we purchased from Phil over Rusty Ducks custom pencil blanks.
And I'll tell you what, they come out perfect. If you really like the second amendment tens, he has them and they're beautiful and they are nifty. I'll tell you what, they are really nice. But anyhow, check out rusty ducks custom pens and blanks. You can check them out on Facebook. Okay?
Also, reminder money and change is live tonight.
And next week we will have an encore edition because I will be at Ohio University for three days.
It's called homecoming, you know, I mean, that's when all the parents and all the alums come back to campus.
Campus goes wild for at least three days. That's the only wild things I get to see you know, living in a small town, I don't get to see much wild stuff going on. And you go down to Athens and you will. It's a good campus. I love it down in Athens, Ohio, in the hocking hills. It's a beautiful area, one of the most beautiful campuses in the United States of America. Also, you want to check out my world, live life or whatever. And that's going to be on Wednesday night at 08:00 so you want to check that out. And we've been having problems lately.
When we go to do the production, for some reason, we get logged on and get things going, and all of a sudden we start having little production problems. And I'm not sure if that's with streamyard that we use or maybe it's my thumbs. You never know. You know, pressing buttons a, it's a mess. Anyhow, guys, check us out. Also, when you take a look at the trim radio network, and I've got to get that up on the air, too many buttons. I keep talking about too many buttons.
But the trim radio network, and you can see it right now on the screen, you can donate to keep our shows on the air. All the money that comes in on donations goes to buy airtime, everything else.
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My tongue is tied today. I need water run through a Berkey water filter.
Anyhow, we have different shows. We've got the adventure awaits around the bend.
And we have ranch it up with Tigger and Beck. We have life walk with Christ God. And that's with Michael Bayhouse. We have money and change. We, we have offsides college football top 25. We have take point 22. We have my world live laughing. Whatever. We have the natural marketer podcast with Victoria Smith.
If you want to learn how to market your business, hey, that's the show to watch. Okay? We have the Positude podcast, and then we have Roscala's red pill reality show.
Yeah, and it's a good show. It really is. I mean, all of our shows are good shows. But I'll tell you what, Roscala's red pill reality show is something else. He talks about a lot of different topics. The only thing of it is he says you can either have the red pill or the blue pill. And I say, I really want the green pill, but he hasn't found it yet. I don't know. Anyhow, check out our shows. Now, if you want to go ahead and help support the shows, like I said, you can support the station by donating, or you can buy the merchandise. Okay? So if you take a look at the merchandise, and we've got some different merchandise up there now.
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We've got cut the bull custom pen buttons or pin buttons. We've got the life walk with Christ God ceramic ornaments to hang on trees. Okay. And we've got the on air trim radio, black mug. Okay. Among others. Those are just the ones that we're highlighting for this show. There are a lot of different things, but everything that you go ahead and buy with merchandise, it goes into paying for our air time. Okay? And so check us out if you have some spare change after money and change, you want to go ahead and get some merchandise, and that helps keep us on the air. And we go worldwide. We are Internet, so we're picked up in all different countries. I've got listeners from Myanmar, South Africa, other parts of Europe. I've got him in North America, Canada.
I think I still have one in Japan. Luckily for Ernie, he speaks English. Okay. He lives over in Okinawa, and I've known Ernie for quite a while. So, Ernie, if you're listening, hi.
But we don't have anybody in Iceland, so if you're in Iceland and you want to let us know that, hey, you're listening to us, contact us, okay? And so you can go ahead and do that. Now, the one thing is you notice here that says, hi there. Thanks for visiting the trim radio network. How can I help you today? If you want to do your own show, and we've had some people request to do their own show, you click on that button, you say, hey, I want to do my own show. This is what I want to call it. And this is where you can reach me. Phone number, email address.
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It's simple as that. So if you want to do your own show, let us know and we'll get back with you. Okay, now, we've had several requests to do that. Okay, well, guess what?
Time to hit another button.
These buttons, they drive me crazy one of these days.
Oh, I think I'm gonna have to do a different setup here, but we have a lot of different things going on here. And what are we gonna do next? Oh yeah. Shoutouts.
Appalachia's homestead with Patara. She's down in the Knoxville, Tennessee area. Happy anniversary.
Okay.
She and James just had an anniversary and they went down to, I believe it was Sevierville, the party a little bit. And then we also have countryside acres, and that's Aaron Feenstra and his wife Anissa. And they're setting up a farm over in Russia, which is strange, but they're doing it and it's kind of interesting. And we also have the big family homestead with Brad and Krista out in the middle of Wisconsin. And we have the deep south homestead with Danny and Wanda King. We have the LDS prepper with Dave Gilmore.
Over 600 videos. Can you imagine that? 600 YouTube videos. And every one of those videos are very, very, very interesting.
Like I've said before many times, Dave got me involved in GMRS radios, okay? And with this radio that I'm holding right here, I can talk 35 miles away based on terrain and so forth, but I can talk 35 miles away to a repeater and get out 95 miles beyond that. And it's interesting. I've talked to people in Indiana. I've talked to people in Ohio, and I've been able to get to the Springfield repeater. And I haven't been able to get up to the the Finley repeater yet. I'm working on that one. But anyhow, these, these radios are $35 for the license, which you have to have, but they're good for the whole family to use. You just have to be able to behave. The rules, the FCC rules, okay? But it's a good radio and it's fun to have. But I'll tell you what, besides a hobby, you know, you could talk when the system is down. If for any reason phones are down. And you know people that have these GMRS radios, you can turn them on and talk to them. And it's great in an emergency. Okay? So if the Internet's down, the phones are down, the GMRS radios are available. This one is an ocean wou 935 g.
It's not one of those bubble wraps you get at Wally World. Okay, I got this one. I believe a better safe radios. Or by two way radios, either one. And it comes with a Nagoya 771 g antenna. So you use it for the GMRs band. Okay? It's great. It really is. And you can do a lot with it, as well as listen to other things. There's a light even built into this thing. It's amazing. It's hard to keep this thing in focus. But anyhow, guys, GMRS radio. Thanks, David Gilmore, for getting me into that habit. Okay? Also, we have prepper nurse one Ed Carswell. And he's down in West Virginia and building a compound down there. Also, prepper princess with Amber Stork.
And I'll tell you what, on our Facebook page, for money and change, financially prepped. I'll tell you what, Amber's got a video there. And I have a lot of different videos I post during the week.
And we also have southern prepper one with David Kobler. David also talks about finance, what's going on in the world, and he's very good at it. I've known David for probably 15 years, 15 plus. And a newcomer is the max.
Their videos are also there. Check them out. Okay. The only thing I know is he's known as the max. I don't know his first name. I wish I did. Okay, well, anyhow, guys, so much for all of that. Let's support the show, okay? Now, if you go to our money and change website and I just hit the wrong button, buttons kill me for some reason. I just hit the button and killed. Killed the show. No, I didn't. Just that one section. Go to our money and change slides. Financially changed.
Financially prepped website. And you'll see a lot of different videos throughout the week. And if I find out that it's an important video that you need to watch. Hey, I put it up there, okay? And there's a reason for it. If it's important. And I think you should know it. Or to help you save money. That's what I do.
I don't get paid for doing the show. Actually, none of us get paid for doing the show.
We just do the shows because we like to. We want to help people, and that's what I want to be able to do. You know, I was at lunch today, and a guy was talking about the changeover in a restaurant where we. Whatever, it's a local restaurant, and management change changed over, and we were talking about different things. And I said, oh, yeah, I'm kind of familiar with, with restaurants and stuff. And he said, well, you know, they need this, this and this. And I said, oh, that's just the beginning of it. You don't know about the rest of it?
He said, well, just the basics. I said, no, you have to know beyond the basics.
And he said, well, how do you know that? Because I said, I ran over 60 food and vending operations in Ohio, and I was very experienced with profit and loss and restaurant management and stuff like that.
So we had a little short talk, and the restaurant where I was at there experiencing a little bit of a changeover, going to a few more electronic goodies, but it's a good restaurant, and I just keep going there. I mean, I don't live there. I'm probably there for almost three days a week.
Great food, great people. It's located in a small town called Pickwa, Ohio, and it's called the lighthouse. Great staff. I mean, great. They're fun people. I wouldn't go there if they're not fun people. Well, we got to talk about some stuff, and I'll tell you what, I've got to get you to where we talk about fish sandwiches. I mean, do you like fish?
I.
I have fish during lent and occasionally during the year. I'm not a big fish person, but I'll tell you what, the food cost for fish goes up and down. Okay, let's see if I've got you on the screen. I'm having a problem here. There you are. And, you know, McDonald's has to buy fish that are inexpensive enough to serve. They're not serving minnows or guppies or anything like that, but they do purchase their fish from a supplier, and they have to watch the food cost, the initial cost of the food. What's the cost of the bun? What's the cost of the, the tartar salts? What's the cost of the fish? What's the cost of the container, the paper container or the foam container? You know, which one's cheaper or going to be biodegradable or whatever? You all you have to take in into consideration, everything about that. When you have a restaurant, you have to know the raw cost and the finished cost of the food. Well, anyhow, so much for my discussion on that. But McDonald's, have you ever had their fish sandwich? Some people like it, some people don't. Some people say Arby's is better or Wendy's is better. Some people say other things are better. You know, whatever. Whatever floats your boat. But you don't have to be a particular fan of fish sandwiches to love the McDonald's filet of fish, okay? There's just something delectable about that crispy critter, okay? That piece of flaky white fish, the cheese and the bun that it's in, it's just good.
Have you ever wondered what kind of fish it is?
You know, if so, you're not alone.
And here's some seriously good news for you. Not only does McDonald's pride itself on sourcing sustainable fish, but the particular type of fish they use is one of Alaska's most plentiful.
Guess what they use. Pollock. Alaskan pollock.
And that fish is found in the bering Sea, and it's destined for your McDonald's sandwich with wild. And it's their wild caught, and they're not farm raised. They're wild caught under strict regulations. And I'll tell you what, that's what's in the fish. Pollock.
And that's what makes it so good. Now, in some cases, a lot of fish will be like halibut, okay? Originally, the initial plan was to use halibut at McDonald's and it was switched to code. And then it remained a cod sandwich for about 50 years. Can you believe it? 50 years as a cod sandwich.
And today, McDonald's customers are served up fish that's described as sustainable and nutritious. And it's a powerhouse. It's Pollock.
Some people like the taste of halibut. Some people like the taste of cod. Some people, well, they like pollock, as long as it doesn't taste fishy. Okay? But that's what's in the fish sandwich. And generally, the fish sandwiches are pretty good. My preferences are bees. I think they have about the best one for a fast food restaurant.
But everybody has their own preference. Okay? But when you go to McDonald's, guess what you're having. A Pollock sandwich.
Okay? What else is going on? Oh, we've got a video. Believe it or not, I'm doing some research for the video part.
I'll tell you. Buttons. Buttons. More buttons.
I don't have a producer. Well, I'm producing my own. Well, that's, that's why, I guess. But you take a look at a lot of different things, and we've got a video here. Bank investors are now betting 2024 could be the start of another 1995.
Let's see what they have to say.
[00:25:44] Speaker C: For the rest of 2024. We've got good friend of the show, Sam Stovall, who is the CFRA chief or research chief investment strategist. Thanks so much for taking the time here with us, Sam. So let's talk about that, that positioning off of the initiation of the Fed's cutting cycle and going into a period where earnings growth is really going to become challenged, it seems, at least depending upon how the macro continues to play out.
[00:26:11] Speaker D: Well, you're right, and it's good to see you again. Bradley basically, it's interesting, but wanting is more profitable than having. So it's essentially going back to 1990. Whenever we had the last rate hike going into the first rate cut, the S and P was up about 18%. This time it was up more than 23%. Yet when we look at the first month's performance after the first rate cut, traditionally the market really goes nowhere. The benchmarks themselves. It's more the sector performances underneath, underneath where some of the defensive areas do well. But also tech and communication services come back into the forefront. We're still in the challenging seasonal period for the market. September and October are the two worst months during election years. But traditionally we get that end of year pop after the uncertainty around the election itself has run its course.
[00:27:12] Speaker C: In your own research, and as you're kind of lining up the strategy for the back half of this year, what type of allocation are you thinking is perhaps most demure, most mindful for a lot of the investors out there that are trying to figure out exactly how they navigate not just through the initiation of a rate cutting cycle, but also through an event in a general election as well.
[00:27:36] Speaker D: Sure. Well, first off, I think investors have to realize that the market was anticipating this rate cut for quite some time and bought up a lot of the tech stocks or the large caps in general, tech in particular, to the point where the S and P 500 is now trading at a 35% premium to its long term forward P E ratio and tech is at a 55% premium, but at least that's down from the recent 78% premium. The reason I mention this is because two areas look very attractive, mid and small cap stocks because theyre trading at 30% discounts to their long term relative pe, meaning their own price to earnings versus the market itself. And while fundamentals tell you what technicals tell you when and how far, and now that the Fed has started to cut interest rates and theres a very good likelihood that we will have a soft landing, I think youll find a lot of investors more willing to move into the mid and small cap areas. So that's what we have in terms of our allocation. A little increased exposure to mid and small caps. And depending on your personality as an investor, you know, I'm sort of a nervous nelly. I like to wear a belt and suspenders. You might want to be going for those lower beta, higher quality oriented ETF's or stocks.
[00:29:05] Speaker B: Well, I'll tell you what guys, it makes me nervous.
And he keeps talking about having a suspender and a belt.
I would have two suspenders and probably two belts.
Things are starting to get a little bit wacky. Sure, you had a rate cut and everybody wants to turn and invest their money, but when you start taking a look at who's doing what, it gets scary.
So if you're investing and you see the rate cut comes down and you go ahead to invest, take a good hard look at it, because there's such a thing as a dead cat bounce. Do your research on that. It's a dead cat bounce.
I'm not knocking cats or anything. I like cats. I like animals.
But in the stock world, a dead cat bounce is not a good thing. So you want to check that one out? Um, I don't know if you guys follow the stock market at all.
I don't know if you invest money at all or if you have enough money to invest. A lot of people, you know, they always ask me, well, how in the world can you have money? I mean my house is paid off, my car is paid off.
I don't owe anybody anything unless it's an occasional bill from who knows, whatever, Amazon, Wally World, whatever that I put on a credit cardinal. Everything's paid off.
So I have money to put elsewhere and I can put it in cds, I can put it in stocks, I can put it in bonds or I can hold hard cash.
Now I've always told people, pay down your debt, put some money aside.
You got to have emergency savings. What happens if your cardinal bites the dust or needs the heavy repair? You know, a friend of mine just had a truck that needed $3,000 worth of work, 3000.
He couldn't afford to get a new one because he couldn't get the right price he wanted for it. They're too expensive.
Another friend of mine had a brand new Denali. It had transmission problems. It's still in the shop. It will be in the shop for probably another month.
So they're loaning him a car.
That's an $80,000 vehicle.
And because they can't get a certain part, it's not running, it's sitting in the shop along with a few others.
Okay, so you pay down your debt. You put some money aside for that emergency purchase, or even if you don't have a job, you have emergency funds to fall back on.
Buy some long term food, canned food, freeze dried food, frozen food, mres.
Make sure you have your meds. If you need medications, make sure you have backup of your meds. Make sure that you have clothing suitable for the season. Make sure you have batteries, double A's and triple A's.
Make sure that, you know, you've got everything set for an emergency. Do you have any blue tarps? You get those, and you put those blue tarps up on your roof if you have a leak.
I have a friend, mine who, and I've told you this before, he's a millionaire, owns a company, and it's a steel company.
And terrible winds came through and tore off his roof, damaged part of it. He had to have a new roof eventually put on, but he was fighting with the insurance company for over a year.
What did he put on? His mansion. And, I mean, it's a mansion.
Blue tarps for a year kept them safe and dry.
So make sure you, you know, you can get those at Walmart, better known as Wally World. Or you could get it at Home Depot or Lowe's, and they're not that expensive.
And instead of having just one tarp, I would have several. I mean, I think I've got three or four tarps in case I need them. You can actually use them for shelter, too, if you need those. But anyhow, pay down your debt, put some money aside, long term food. Be able to purify and store water in an emergency. Make sure you have the right hygiene products. Make sure you have plenty of soap and detergent. Okay? Do you have sanitizer?
You have to go through this whole gamut. And you said, well, you're a prepper. No, I'm not.
But I look to see what I need in an emergency, and that's how I like to prepare.
Okay.
What happens if the power goes out?
Prepper princess was talking about this. That's Amber stork. She was talking about it. And she's off grid. She has solar power.
Do you have a generator. Is it two different fuels?
The one I've got is not only diesel fuel.
No, it is gasoline and propane. You can get them diesel, gasoline, and propane if you want. You can do conversions. And I've also got solar. I'm not on the grid with solar, but in an emergency, hey, I'm ready. Okay.
Oh, so much for all of that. But with everything going on, I want to tell you something.
Sometimes it just gets nasty. And every time I think of this, I think of the old show Hee haw.
And Hee haw had a section on there where these old guys are singing, and I thought I'd play that for you. Maybe that's a lead on to what we're going to talk about the rest of the show.
Yep. Gloom, despair, and agony on me.
Aha.
Well, what's going on? Let's take a look at the one thing that I got about hedge funds and stocks and so forth. This is an indicator of what's going on, guys. And this is why I did that little song at the beginning, because we could end up with gloom and despair and misery on us. Not just me. It would be us. So let's see what we've got.
Hedge fund billionaire, sell stocks, buy gold if Kamala wins.
And hedge fund billionaire. This was in zero hedge. John Paulson said he would pull money out of the stock market and go into cash and gold if kamala wins the election.
And he talks about it. And as Mike Mahari writes on moneymetals.com, paulson and company founder and CEO has been called one of the most prominent names, high finance. He's best known for making billions by betting against the subprime mortgage lending market in 2007. And Paulson appeared on Fox Businesses clammin countdown and told Liz Clammon he would be very concerned if Harris wins the White House and pursues the tax plans and economic policies she's outlined.
Well, they are. They're scary.
And he said, I think the uncertainty regarding the plans they outlined would create a lot of uncertainty in the markets and likely lower the markets. Well, he's not only talking about that, but I'll tell you what, Warren Buffett, Berkley Hathaway or Berkshire Hathaway Company, okay, has been selling off some of his stocks and converting it into cash and gold.
And when he starts doing that, that's worth taking note at. Now, you listen to Paulson and he wants to convert. What happens if the markets go flat?
Woe and misery and gloom on me.
Okay. Gloom on us.
And so we have to watch what's going on?
And Paulson is not the only one. A lot of people are doing things differently. They have to. Wise investors do that. And let's see, I've got another thing for that and it just backs it up. Besides Paulson, I didn't want pulsing. I just did Paulson.
It's one of those days, guys. I want to tell you. It's one of those days. And I hit the wrong button and I do different. Oh, man, I got to stop that.
Well, anyhow, the one that I wanted is right here. And I'll tell you what, I'm going to get that up here in a second.
I'm having so much fun tonight. I'll tell you what, gloom, despair and agony on me.
Well, let's see here.
Well, dang on.
There it is.
Okay. Gold, oil and crypto soar as fed slices the rates with stocks at record highs. And that's Tyler Durden did that one on zero hedge. Everything is awesome. So awesome. The Fed needed crisis like 50 basis points. That's bps to a 50 basis point cut to keep it awesome.
Oh, yeah. Every time they do a cut like that, 50 basis point cut, the markets will soar. And then you just see the graphs here in front of you. Okay? Things can happen.
And what I'm worried about is right here, a high of 4100. No. Yeah, it's 4100 and, and the low of about 32, 43.
What happens if people say, oh, I've got more money, I'm going to go ahead and invest in more stocks? And they do. And then somebody in the know decides to sell off on the stocks and the markets take a nosedive.
I wouldn't be buying any stock if I thought that the markets were going to take a nosedive. Okay, if the markets were going to tank, there's no way in heck I would buy any stock.
That's just me. But you have to do your own research, okay? Now, if you take a look at gold, and I'm going to bring that up right now, when you, when you look at gold, what you have to do is, well, number one, you've paid down your debt, you've put some money aside, you have spare money that you can use.
And so what are you going to do with it? I can't pull that up. It does.
I'll be darned. It's not there. Well, anyhow, what I do, guys, I take a look at the money that I've got and I anticipate any emergencies or anything. And I look at precious metals and what I do is I like to look at AP M e x silver.com. there's a host of others. Just make sure that you do your research.
Right now, gold is at $2,635.20. It dropped, as we talked, by $0.70, about three tenths of a percent. Silver is at $31.39. It dropped three cents.
I remember when silver was like 15, $16 an ounce. Now it's 31.39.
And you have to pay an additional fee because it's scarce. They use it in a lot of manufacturing of electronics. Platinum is at $995.20 an ounce. It's down $2.70. And palladium, it's used in manufacturing. You can only get it in Russia. And it's at $1,108. It dropped at $10.10.
So I would be checking that out. And you can go to AP M E x american precious metal exchange. You can go to silver.com and a whole host of other places and buy gold or silver.
Now, if you're going to buy gold and silver, how are you going to buy it?
The biggest thing is don't buy big bars. They're too heavy. You can't carry them with ease. You can't put them in your pocket and walk down the street with it. A 10th of an ounce of gold is good for bartering a 1oz gold piece, which is, you know, like I said, what, 2600 bucks?
26.35.
Well, that's fine.
And you could probably barter with that. But a 10th of an ounce is very easy. It can. It can easily be used for barter. Silver, on the other hand, those are 1oz coins. Personally, I like the silver eagles.
And there's Austria. Yeah, Austria Philharmonics.
Those are good ones. There are a lot of other ones. And the canadian silver maple leafs are good, too.
You'll pay a little bit more of a premium on those, too. Just make sure they're 0.9995% silver at least.
But remember this, precious metals are a hedge against calamity. So these millionaires and billionaires are saying, okay, the markets are going to be uncertain. I'm going to take money out of the stocks that aren't performing. I'm going to take that and I'm going to put it into gold and silver and whatever ratio they use, and they're going to hold it there. And then after the uncertainty happens, if the markets crash, they have gold and silver, no problem.
If the dollar just totally tanks and the dollars aren't worth anything, well, you have value there. You have worth in the gold and silver.
Think about that. Now, if you can't do that, buy long term food, start stocking up on food.
Canned goods, emergency food, emergency essentials, and a few other places around there, they have long term food. You can even go to Sam's club and Costco and get emergency food buckets there.
Mres, you know, if you can't buy the gold and silver to stock up and use, then go ahead and stock up on food. Just make sure when you get the cans, they're not dented, they're not bent, and there are no bulges in the can. Okay?
So that's one thing to take a look at there.
Well, there's another thing that's happening, and I do have this one about a paralyzing strike.
And I'll tell you what, I got to see where it disappeared to.
Oh, my goodness.
Oh, despair and agony on me.
Now, this one didn't. Something's going on here.
Now all of a sudden, I get the ap M E x. Is somebody playing around?
I'll give you a look at that one.
Well, there you go. The apmex, gold and silver, and up at the top, the current price.
Okay. And if you wanted to buy silver or gold, there's your, your way to do it. Okay. So if I wanted to do that, if I wanted to buy gold and not the bars and I wanted to get a 10th of an ounce or thereabouts, and I could get it, I don't need the spot price there, of course. It's $36.90. And I don't know what the price of a 10th of an ounce is. I can just about guess it.
They don't have any 10,000 I thought they would have. Well, let's go to the gold eagles. Let's see if they put it there.
Oh, my God. They changed it.
Oh, my goodness.
1oz, half ounce, quarter ounce. There we go. 10th ounce.
10th of an ounce. They're itty bitties, and they come in a special container. 10th of an ounce is $368.87 for a 10th of an ounce and a 10th of an ounce. American gold eagle. Any quantity is $373.47. If you use a credit card, they're going to tack on more. It's going to cost you more to use a credit card.
But those are the, those are the coins that you really want to have if you're going to invest in coins. Well, anyhow, let's get out of that. But at least you know what Apmex is. Okay.
Holy cow. The bugs in this thing. I'll tell you what. Drive me crazy. Well, let's see here. I've got some more things going on.
The biggest wild card in the presidential election.
Oh, yeah, here it is. Now it's moving.
Just days left until a crippling port strike paralyzes the east coast. If you're living on the east coast, you have to work in the port of New York or wherever crippling strike could happen. The latest week, the CEO of Flexport, one of the largest us supply chain logistics operators, warned the biggest wild card in the presidential election that nobody's talking about. Well, it's looming port strike that could shut down all east and Gulf coast portend ports in just 36 days before the election.
Oh, now we're going to have more port strikes.
The Port Authority of New York and New Jersey, they're coordinating with partners across the supply chain to prepare for any impact from the possibility of work stoppage by workers represented by the International Longshoremen's association as they negotiate with the United States Maritime Alliance. USMX, a port authority spokesperson told CB's Money Watch on Friday.
Oh, yeah. So get ready. Is a possible strike a last minute thing? They could close the ports down. What happens then? Prices go up, guys, because you're going to have to find alternative transportation routes.
Oh, yeah.
Things could get nasty and very expensive.
It's not fun.
Well, we've talked about that. Federal judge extends a block on Biden's administration's newest student loan forgiveness program.
He's probably saying, Joe, you can't do that.
You just can't say, we're doing. It's got to be an act of Congress. If you don't have an act of Congress, you cannot lower the student loans. You can't forgive anything.
You're not the king, you're not the dictator. Well, you could be a dictator, but anyhow, Congress has to approve it.
So the federal judge is just saying, well, you know, we're going to put, put a freeze on it, and after the election, then we'll probably take a look at it.
Well, how to maximize your interest earnings following a federal rate cut. Okay. You want to maximize your interest earnings.
Well, in doing that, there were some hints that were given and hopefully.
Oh, it's changing things for me. Finally, we've got how to maximize your interest earnings following a fed rate cut. Okay.
And Sarah Brady was the contributor for that. And she said for the first time since March of 2020, the Federal Reserve lowered the federal funds rate last week and there may be more cuts this year.
Well, what happens when the fed reduces its target rate? Well, for loans, if you have a fixed rate loan, nothing will change. However, if you want to take out a new mortgage or car loan, for example, or refinance an existing loan, the annual percentage rate, or better known as the APR offered by lenders will be lower.
So you could refinance at a lower rate. Bank accounts, the annual percentage rate or the APY or interest you earn on bank deposits decreases. As a result. You'll earn less on the case you keep in your checking and savings account where you're not getting that much anyhow. Right now, low risk investing. If you already have an investment account that gives you guaranteed returns, such as certificate of deposit or treasury bills, your rate will stay the same. However, the rates offered on new accounts will begin dropping.
Okay, so what do you want to do? You want to look for high yield checking, high yield savings, online bank accounts, credit union accounts. You know, Glenn Beck was talking about putting everything in a credit union. I don't know about that. Maybe some.
But put money into the credit union accounts because you're a shareholder there, mutual bank accounts. Okay. And you can do that. You can open a cd and you find out what the rates are.
The best I could get around here is about four and a half percent. They won't go five.
I wish I could get five, but right now I'm stuck where I'm at. I've got a good bank, a good, conservative bank, and that's the rate I'm getting. So I'm going to be stuck with that unless something else comes along that's a lot better. And then you switch banks.
People do it all the time. If you can't get a good rate at the bank where you're at and you find it elsewhere, then move it there and it's no big deal. Okay, now we've got other stuff going on here.
And, you know, you wonder about the cost of living, the cost of living in 2024, the cost of living increase.
Well, they're saying 2024 will be 3.2%. Well, right now they're going to say it's 2.7% is the goal. It could be 2.9%, but they're not figuring in food and they're not figuring in gasoline.
You figure in food and gasoline, cost of living is going to be a lot higher.
The 2025 estimate is going to be 2.5%. 5% cost of living adjustment for Social Security.
So if you're on Social Security, yeah, expect a cost of living increase. But they'll take it out in taxes.
Sometimes I wonder if it's worth anything there.
How much will $50,000 be worth in 30 years of inflation?
Did that perk your interest? A little bit of. Well, for example, if your current income is $50,000 a year and you assume a 4% inflation figure in 30 years, you would need the equivalent of. You ready for this one, $162,170 to maintain the same standard of living.
Uh huh.
That worries me.
You're living at 50,000 and at a 4% inflation rate, in 30 years it's going to be 162,170 and you're retired. You're not making money.
Yeah, learn about living on less.
Well, anyhow, guys, that's all I've got for this week of money and change. Next week we will have an encore edition of money and change. And it's worrisome, I'm telling you, it is real worrisome anymore.
Pay down your debt, put some money aside. Buy some long term food.
Make sure you take a good hard look at investing in maybe gold and silver.
Remember, Silver's poor man's gold.
But you want to go ahead and you want to do that.
Prep as much as you can. I'm serious. You want to prep as much as you can. And it may be too late, and the social agencies aren't going to help you out and neither is the federal government. Okay? Just remember that they're not going to help you. It's up to you.
Okay, so that's all I've got.
And I'll tell you what.
You know the one big thing that they talk about is gloom, despair.
Well, guess what?
Yep, that's what it is. And prep and pray. Stay out of the way. And with that, guys, that's all I've got. So.
[00:58:28] Speaker A: Deep.
[00:58:28] Speaker B: Doctor crash and excessive misery.
Well, guys, have a good week and we'll see you in two weeks with another live edition of money and Change. And with that, you have a good weekend. Prep like crazy. Okay, see you.
[00:59:12] Speaker A: All. Slow down and enjoy right now guarantee we'll be feeling alright everybody look to the Napa, everybody can you feel that we're paying with love tonight it's not about the money, money, money we don't need your money, money, money we just want to make the world day forget about the price.
