Investor's Edge with Gary Kaltbaum - Yellen's $78 trillion nightmare [07.29.2024]

Episode Date: July 29, 2024

https://garykaltbaum.com/...

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Starting point is 00:00:31 Investor's Edge with Gary Cultbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Colbom, your host. A thanks for being with us today. Glad you're here, ladies and gentlemen. Happy that you are listening.
Starting point is 00:00:50 It's Monday. It's July 29th. It's 2024. We certainly hope you all had a good weekend in case you don't know. This is serious talk on everything that affects you. We used to do markets, markets, markets. And then in the early 2000s, we noticed that the Morlocks starting to get in our face more and more every day with debt and deficits and rules and regulations and fees and fines and mandates and giveaways and all kinds of control. control freakism, so we include them now more than ever, leading us to how we're going to start
Starting point is 00:01:38 the show today, because in the past, the control freaks would at least lie about it and hide it. They don't anymore because they think they're better than you. We'll get to that in a second. If you do not get this radio show in your city, we'll post it at garyk.com. We'll also post it on our Twitter feed, which is now X. And if you'd like to email us, go ahead at GaryKK.com or GKalbom and callupam.com. And you can follow us on X. Just put our name in.
Starting point is 00:02:13 So every now and then, we'll get an email. Gary, talk more about the markets. What you're talking about has nothing to do with blankety, blankety blank. And we're trying to tell you everything we talk about has every single. thing to do with that blankety blank blank. When Joe Biden forgives somebody's student loan, that's our money. They have perfected, they have perfected the con. They have perfected that the slush fund is so damn big that I still remember Neil Cavuto,
Starting point is 00:02:55 the great Neil Cavuto, the inspiring Neil Cavuto, the best journalist on earth. upon 08 when we didn't give them we were forced to give them $800 billion to take care of the crooks at the banks because they were destroying the financial system with their fraud he said to me on TV you know trillion's going to be the new normal well he was right they talk trillions like it's a couple of belly beans. A hundred billion is nothing. It's no big deal. They've created that to where we're deficits are two trillion a year now. And of course, the media say nothing. And of course, none of them could last one minute with me in an interview. Well, as I stated for the record, they don't even give a crap anymore. They'll just say anything, propose anything. No number is too high And you must remember something. Every dollar they spend is our dollars.
Starting point is 00:04:07 They don't produce any profits. You got that? And I'm talking to all of you that somehow I don't understand. I don't understand the love of a certain ilk in D.C. And I've never understood, oh, it's a D. I'm just voting D, no matter if they suck or not. Oh, it's an R. I'm just voting R, whether they suck or not. Which takes me to one of the worst schnooks.
Starting point is 00:04:47 And I don't even know what the word schnook means. But it's certainly not me complimenting that person. It means a fool. But this person's no fool. Because in her time, she became a sense. central banker, the head of the central bank. She is now our treasury secretary that is supposed to be the defender of our treasure. Her name is Janet Yellen, and may I state up front, anything I say is nothing personal. It's purely business. I'd say it all to her face. She's calling for
Starting point is 00:05:42 $78 trillion in financing to $5 trillion. climate change through the year 2050 let me repeat that seventy eight trillion dollars three trillion dollars a year to fight climate change through the year two thousand and fifty now who seventy eight trillion dollars is that oh it's ours to fight climate change Hmm. What for? What is it going to accomplish? You're going to stop the hurricanes? You can't. You're going to stop the tornadoes? You can't. You're going to stop the heat in the summer? You can't. Can you stop the cold in the winter? You can't? Can you stop fires in California? Well, you could if you stop restricting water. $78 trillion. In order to achieve net zero global carbon emissions, three trillion globally in annual five. financing for the cause, which she says is a top priority for the Biden administration. Well, there is no Biden administration anymore. Three trillion a new capital.
Starting point is 00:07:07 So it was interesting. She did the interview. And what the interesting part about it is, you sit there and you think the journalist would do the job. And ask the very simple question, easy question. What are you going to spend it on? Give me one thing you're going to spend it on. Tell me. They couldn't answer the question.
Starting point is 00:07:39 And the bottom line is these interviews are set up to where they don't ask the questions. The next question would be, and who's going to pay for it? And the next question should be, so what exactly is that going to accomplish? How is it going to change the climate to make it cooler? Explain. Simple questions, right? Right? Easy questions.
Starting point is 00:08:14 And I'm thinking to myself three trillion a year. Three trillion. Huh. Imagine if we actually had that money and put it to good use. Any of you have any potholes in the sidewalks or in the streets where you live? Any of you have bridges that have been there since 1920 that maybe will need a new bridge? Any of you have any homeless in your city, homeless veterans that fought the wars and defended our freedoms and they're living outside? Any of you have that going on in your city?
Starting point is 00:08:52 No, let's fight climate, which is a hoax, of course. You can't change the weather. Superman could, but last I look, Superman is just a character. We can't change the weather. She should be fired. And I must tell you, if I was president, I would publicly acknowledge her Marxist, socialist, control freakism. The defender of our treasury,
Starting point is 00:09:39 78 trillion, to fight a battle that does not need fighting. You want to clean up the pollution? Go ahead. clean it up. Business and believe it or not, a little bit of government have done a good job. Remember the smog they had in L.A. many years ago? You know, there's companies out there that are mining the oceans, getting rid of plastics left and right. You know that, right?
Starting point is 00:10:08 Green, we've been going green for a long time. Electric vehicles, well, they're out there. Of course, a lot of people don't want them. so let me explain these people are legalized crux you see we can't say they're just crooks
Starting point is 00:10:31 because that wouldn't mean they're doing something illegal I have to say legalize because they are in power in D.C. But they're schnucks and they're control freaks and we've got to make sure they're all out of power
Starting point is 00:10:53 and get people in there that believe in we the people. That government is fine, make sure it's good government, efficient and effective government. We'll put a bow tie on this up next. And then lots to cover. I'm Gary. This is the one only Investor's Edge. Hi, I'm Gary Kalpom, hosted a nationally syndicated radio show Investors Edge.
Starting point is 00:11:37 We're not just handsome radio people. We manage investors' money for a living, specializing in fee-based discretionary money management. No big commissions, just a fee on the assets that's managed. We also provide a full range of personalized services, including retirement planning, fixed income, and educational needs, all to assist you in achieving your financial goals. Understanding not all individuals have the same needs,
Starting point is 00:12:01 we'll carefully evaluate your personal goals to determine a proper investment strategy. If your current approach to investing is not getting you to where you would like to be, call us to make an appointment for a complementary portfolio review. The number to call is 888-4-2-5-59. That's 888-4-2-5-9. That's 888-4-2-2-5-5-9. Investment Advisory Services offered through call-bomb capital management.
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Starting point is 00:13:07 Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for details.
Starting point is 00:13:34 This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the whole process simple. You record your show, upload it once, and Sprinker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen apps your cousin's swears are the next big
Starting point is 00:14:06 thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones. Start your show today at spreeker.com. Spreaker, because if you're going to talk to yourself for an hour, you might as well publish it. It's time to switch on the integrator units and get the brain cells working. You're listening to. Hey, this promises to be fun. Investors Edge. The last bastion of quality programming. With Gary Call. It doesn't get better than this. So Janet Yellen said climate change is literally an existential threat to our nation into the world. No Janet Yellen and her ilk are an existential threat to our nation and to the world because they will bankrupt the living crap out of us and use lies and cons to extract our hard-earned dollars that we go to work for.
Starting point is 00:15:23 for every day. See, Janet Yellen has been in the public sector a whole life, and when she left, she was getting a quarter million dollars for speeches from Wall Street. Remember what we tell you about the incestuous relationship between Wall Street and D.C.? They kiss each other's arse because they know they need to curry favor with one another depending on which way they are going. she doesn't give a crap about the climate she cares about extracting money out of us just like Marx's do and they make things up to suit themselves
Starting point is 00:16:06 the nerve of them go on video and look up about 18 years ago when that preeminent scientist Al Gore said we had 10 years imagine The media kissing the butt of a person who says we have 10 years or else, even though the earth is 4.5 billion years old. And they let him get away with it, and he's worth hundreds of millions of dollars now off of it.
Starting point is 00:16:42 I guess he's a smart guy. And then the celebrities that'll stand up. What's this guy? Prince Harry. The newest one, who lives in like a 33, square foot house, how much electricity does that use and tells us how much we have to conserve? Or other celebrities that go on to their yachts using a private jet or the ass clowns at Davos where 500 private jets were parked to meet so they can sit around telling each other and talking to us that we need to conserve.
Starting point is 00:17:24 Up yours. And now Janet Yellen with no shame. I just got to hand it to her. At least she doesn't lie like others. She actually says, I want to give you a financial colonoscopy 24-7 until your wealth is destroyed and our power is solidified in order to fix the climate.
Starting point is 00:17:54 Do you know for seven years we didn't have hurricanes in Florida? They said it was climate change. When we had hurricanes, they said it was climate change. Before that it was global warming and then it froze for a couple of years. So they had to change the moniker to climate change and never be wrong. Before global warming, it was global cooling. Go look it up. They told us we're going to have an ice age.
Starting point is 00:18:28 And if you disagreed with them, we're idiots. 78 trillion. She has the grapefruits to even mention that number. I got to hand it to her. Three trillion a year extracted from the people. Not from her. These con artists that have put themselves in this leadership position and have been elected over and over and selected over and over,
Starting point is 00:19:16 and they never leave the freaking stage until they're dead, and in their wake they leave us with now 35 trillion of debt, headed, they're now telling us 60, which means 80, and they don't give a crap. And somehow, and I don't get it, this pliant, sycophantic, insane media that kisses the arse of this side. They take sides. The side of proposals where they want to take long-term capital gains from 20 to 45 percent so that would disincentivize your holding of assets.
Starting point is 00:20:06 They want unrealized capital gains tax. If you don't sell, you still got to pay a tax, which means you may be forced to sell. On top of all this, they're morons. Wealth taxes. You work your tail off your whole life. You pay local, federal, state tax. If you die, you pay a death tax. And now they want wealth taxes.
Starting point is 00:20:32 They hate you. You're a means to the ends. They're power base. $3 trillion a year for climate On top of everything else They're doing They're thugs They're thugs
Starting point is 00:20:56 The difference between them and bank robbers Is they don't walk into a bank They own the banks They regulate the banks They don't need a gun to go into the banks They set legislation to do one thing, come after you. And for some reason, I don't get it.
Starting point is 00:21:22 Nobody wants to do the homework of what they are actually doing because, as I have stated to you, they couldn't get away with it if we actually felt it immediately. I've said this a hundred times to you already. If you went to your bank online today and there was a $300 debit and said for student loans and you called the bank and they said to you, well, it's for Biden relieving student loans, he couldn't do it. But that's exactly what they're doing through a slush fund and through debt.
Starting point is 00:22:02 That they have con artist economists actually saying is okay. They got this New York Times year. Uts economists that say debt's okay. Oh, of course when one side is in power, when the other side is in power, debt's not so good. It's the greatest
Starting point is 00:22:23 con game of all time. The greatest bull market in history are these people. And some of these elected officials making $180,000 a year end up being worth $50 million bucks over 20 years and nobody asks why.
Starting point is 00:22:43 You have ill and Omar having her campaign pay her husband's business $3 million, and they tell you that's not a crime. They tell you that's not even ethically challenged. I rest my case. Serenity now. Markets next. And I'll probably be whining about something else. I'm Gary. This is the one the only investor's edge. Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John underwear is designed for a perfect fit that stays put all day. There's Zero-chafe thanks to four times more stretch than competing brands, and their innovative horizontal quick-draw fly is a game-changer.
Starting point is 00:23:43 With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with Code Comfort. That's Tommyjohn.com, code comfort. Tommy John. Comfort perfected. This message is brought to you by the Capital One VentureX card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect.
Starting point is 00:24:10 Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply, lounge access is subject to change. See Capital1.com for details. This episode is brought to you by Spreker.
Starting point is 00:24:31 The platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere people listen, Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing. Even better, Sprinker helps you monetize your show with ads,
Starting point is 00:25:04 meaning your podcast might someday pay for, well, more microphones. Start your show today at spreeker.com. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it. We're listening to America is talking. Investor's Edge. He's got to be pleased with that. The crowd is just on his feet here. He's a Cinderella boy.
Starting point is 00:25:33 With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors. If somebody played for Janet Yellen and their nink her nink-a-poop friends, the first two segments of this show, she could not defend herself. Now we move on. Quiet market today. Dow was down 50.
Starting point is 00:26:15 The S&P was up four. NASDAQ up 12. NASDAQ 100 up 35, but they opened things hot again. I think the NASDAQ was up 175 or something like. that then it was down and let me just state for the record I want you to listen carefully a few tidbits hope you don't mind as you know we love growth stocks we love technology stocks we love growth retail things like that we're always looking for evidence of what to do or what not to do and as we have told you and we're very careful what we tell you here
Starting point is 00:26:50 because we want to make sure we're full and fair with disclosure and we also want to be fair about it's very tough for us knowing people don't listen every day about oh if we bought something on Monday, seldom on Tuesday which we could but what we try to do is guide you through what we think you should avoid and not avoid and give you evidence to back that up and we think we've done a pretty good job. So as you know, we had stated for the record on July 11th, we sold down most of our technology stocks. And that's all we were in. That day we sold our meta, Microsoft, I think Nvidia that day or around there. That was the day it topped. The next Wednesday we sold Apple and Amazon. Apple was still
Starting point is 00:27:52 holding up great. Amazon had broke out and we just waited to fail and it did. And that left us with no technology. And every day we're looking for evidence. We're looking for evidence that the worst may be over. First off, let me state for the record typically when something like that goes into correction, the correction doesn't usually last from the 11th to whatever the date is today, the 29th. It usually lasts longer. And very often you'll see three legs to the downside. But we're in earning season, anything's possible. And I can tell you four stocks this week. Amazon, Apple, Facebook, and Microsoft report, besides others, those four are 20% of the S&P 500, which is insane. Just four stocks is 20%. And there are also a lot of the NASDA.
Starting point is 00:28:51 Act 100. So what we do every day, we know with the scan, and we know where to scan, and we assume we know what an up trend and a downtrend look like, and assume we have a decent feel of the market having defense. And what do we mean by defense? Well, they stop going down. Duh, it really is as simple as that. You find an area where the stock says enough, and it's, and it defends there over a period of time. And then there's other things. things that can occur, and that is their leadership in the group, are there breakouts to the upside in the group, or something like a service now. Now, you may have not heard of this company, but it is a software company, cloud-based, and it's been a wacky stock.
Starting point is 00:29:53 It has made 20% moves up and down, boom, boom, boom, boom, until Thursday of last week when they reported earnings. And their earnings are pretty decent. I've never complained about their earnings, just the trade's crazy. And on Thursday, well, it closed the day before, get this, at 731, hit a high the next day of 8.50, and closed at 8.30. $97, volume heavy,
Starting point is 00:30:29 good stuff. We're always looking for strong reactions to earnings. In a real good bullish phase of a service now doing that, number one, we know by evidence and study and precedent,
Starting point is 00:30:47 it would usually take other stocks along with it, and it kind of sort of hasn't. But more interesting to me is I saw some people I know no buying it. And I'm trying to impress upon them. You probably want to be patient because in case you don't know, we believe 80% of a stock's move is because of the sector. If the sector is not working, it's probably going to be lame or it's going to take time. Service now
Starting point is 00:31:19 today, it's down $28 today, with an up NASDAQ today. So what we have already is some evidence, just some evidence, that maybe technology still ain't ready. And we also know what good setups look like. You remember January 8th of Nvidia? That's when we, the day before on a Friday, we said, boy, this looks about ready. And if it breaks out, that'll be a five-month breakout and a five-month breakout in the number one stock in the market, probably going to be strong and went up 90%. So the opposite with service now, down 28 today. and we'll keep paying attention, and there'll be more reports, and what we're going to do is very simple.
Starting point is 00:32:07 How are the reactions? Were they strong reactions immediately sold off? Were their weak reactions bought up? Were the reactions big breakouts on volume? Was it the opposite on volume? And we'll know. All I know is today. They opened technology hot, couldn't keep it going,
Starting point is 00:32:27 saw a bunch of reversals to the downside, saw some important semiconductor stocks act like crap, and then Service Now, which, dang, that was a strong move Thursday, give the market a little bit of a certain finger today, and we'll see if tomorrow's a better day. But I use that today as evidence for me. I'm in the right by being patient when a very strong reaction. And by the way, it's an institutionally favorite stock in the past. But when it does that, it just gives me a little bit of a clue that we'll hang, we'll wait, and see what comes next. And we'll take our time. So we'll just give you an idea of a little bit of how we go about things, our thinking, and maybe it's up 30 bucks tomorrow.
Starting point is 00:33:16 I don't know. Who knows? Maybe it is. We can only deal with the evidence at hand and what the evidence gives us in real time, not tomorrow. and you add up the fact that today, just some crappy action and other big names that we follow, all trading below the 50-day moving average, all have pretty crappy volume patterns, meaning down on heavy volume, up on higher volume. So we're patient.
Starting point is 00:33:51 So just to give you an idea, the in-depth stuff we go into, and nothing is ever foolproof, but it just gives us a little bit of an edge and sometimes of a big edge and we'll see what tomorrow brings. Again, another big earnings week as we said, four stocks, the 20% of the S&P, and I'm pretty sure they're like 28%
Starting point is 00:34:10 of the NASDAQ 100. And then we'll get reactions like McDonald's. They miss by 10 cents, but the stock was up. Do you know why? Because the stock has crashed over the last year. That's six months. So I just think it's a balance.
Starting point is 00:34:27 And you know what they actually said? Well, kind of sort of forward our numbers are better because we're charging more. But wait a minute. Aren't you? Didn't you do the $5? Oh, but on the other end we're doing the $5 meal. And that's attracted people. Whatever.
Starting point is 00:34:40 All I know is it was up nine bucks today. Help the Dow a little bit. Nine times about 50 Dow points, something in there. But in a big down trend and we'll avoid it. Help the restaurant stocks today. They were all green today. But most of them have been toast over the last few weeks. And again, as we go through the earnings this week, just a ton.
Starting point is 00:35:01 In the Dow, Procter & Gamble, Microsoft, how about an AMD, a Landstar in the transports, Starbucks, which has been having lots of trouble, Boeing in the Dow, you know about their trouble, Garmin, Generac, you know what they do, right, if you have hurricanes. Marriott and the hotel's arm holdings, an important semiconductor, which, by the way, broke the 50 data to the downside today on volume, Lamb Research, Facebook, I don't know why they changed their name to meta. eBay, Qualcomm, MasterCard, Alibaba.
Starting point is 00:35:34 Love that name. What a great name. Regeneron Pharmaceuticals square. Apple and Amazon will be Thursday after the close. That'll be interesting. Draft Kings and Up next. Trump.
Starting point is 00:35:54 Bitcoin. What was his mistake? This is the one only investor's edge. Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretch than competing brands. And their innovative horizontal quick-draw fly is a game changer.
Starting point is 00:36:39 With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with code comfort. That's Tommyjohn.com code comfort. Tommy John, comfort perfected. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect.
Starting point is 00:37:06 Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for details. This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the whole process simple. You record your show,
Starting point is 00:37:48 Upload it once, and Spreaker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones. Start your show today at spreeker.com. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it. You're listening to. What are we waiting for?
Starting point is 00:38:18 Well, what are you waiting for? One, two, ready, go. In the bestor's edge with Gary Kaltba. In the big news, first off, let me state for the record. The media is doing exactly what I told you they would do. They are lying, deceiving, blacking out, covering up anything dumb, stupid, crappy on one side of the aisle running for president. it's almost a comedy act at this point. You have social media.
Starting point is 00:39:10 If you put in certain words on social media, they don't show up anymore. Like Donald Trump assassination attempt doesn't even show up. And for the record, I'm no fan of either. But since the media is doing the job on him, I don't really have nothing to add. So the fix is in. They're going to do their darnedest. They are raising her up, even though she couldn't get 1% in the primary. They are covering up for her.
Starting point is 00:39:41 Oh, she was not the Bordersar. My arse, she wasn't the Borders are. Just amazing to watch. The record of her, Pete Buttigieg was out this weekend, and he's pretty funny. Stand-up comedy has nothing on him. And then there's Trump. Mistake. mistake. So we all love being popular, right? We all love feeling important, right? You know what I taught
Starting point is 00:40:18 my kids, one of the ten things I taught them, make everyone feel important, whether they're the janitor of the building or the CEO of the building. I taught them that. Treat everybody as they're important. Also, people love hearing their name. Call them. Call them. them by their name. Waders and waitresses, their name. People love hearing their name. I don't know if you know that. Everybody wants to feel important. And man, what a great thing to be a Donald Trump that was invited to the Bitcoin conference in front of, I think, thousands of people that are so happy with him because he is engaged in the Bitcoin and the crypto thing. My commentary is not on Bitcoin.
Starting point is 00:41:18 My commentary is on Trump and just a huge mistake. Imagine if I'm doing a little seminar or something and a lot of people show up. You know, for me, eight people's a lot. And I say, beyond meets going to the moon. Or Home Depot is going to the moon. Or first solar is going to the moon. Or gold is going to the moon. Which, by the way, I just stopped out of what a small loss.
Starting point is 00:42:06 What if I did that and they dropped 50%? You think I'd be popular? Doubt it. People care about their wallets. They care about their money. And I'm pretty darn sure President Trump, and I guess we call exes presidents, right? President Trump meant well.
Starting point is 00:42:37 I'm 100% sure. You see, when I buy a stock, I'm betting it's going higher. I mean well. I mean well. I want it to work out. So no doubt, my mind, he had nothing but the best intention. But he went in front of everybody and I'm no
Starting point is 00:43:01 Donald Trump. So when I talk to you, or if I have an audience, this is not being presented on every news channel or every newspaper around the globe. What Donald Trump says is in every newspaper around the globe. And due to this crypto thing is a big thing around the globe, he is now on record that Bitcoin's going to the moon. What if Bitcoin drops 80% like it did in the last bare market from here? Anybody want to answer that question? What happens to Trump's popularity? You think it goes up or goes down? What happens to Trump voters? Let's just say for the record, Bitcoin drops 25% before the election. What do you think?
Starting point is 00:43:56 Think you'll lose some voters? You know, people do vote with their wallets. And due to the fact Bitcoin has no earnings and no sales, we know that. And it's just an inanimate object. What is it? It's an asset class now. That's all it is. And they're telling us it's based on, well, there's no trust in government.
Starting point is 00:44:19 Okay. I'm certainly on with that and that people maybe not have trust in the dollar so they want to go elsewhere there's a possibility there and maybe it goes to a million a half like that what's her face that's down 70% over the last three and a half years
Starting point is 00:44:38 and still gets interviewed maybe it does that but everything we do here is based on airing on the side of caution yet President Trump went out and said is going to the moon. If I was advisor, you know what I tell him, right? Shut up. Do not say it's going to the moon. Say you hope it goes to the moon. You say it could, hopefully it goes higher because of. He's now on record, on an inanimate object. And in case you do not know,
Starting point is 00:45:15 in case you do not know, from November of 21, down to November, November of 22, the GBT that represents Bitcoin went from 55 down to $7.5. My one wish I've said to you before, if Trump wins, that he has good policies and, more importantly, discipline, a clear lack of discipline in stating Bitcoin's gone to the moon. I hope he's right. And I mean that. I hope he's right. You all have a great evening drive. carefully. Say hello to Janet Yellen, if you see her. And when you get home, do like we do. Quite simple. Make sure you hug your family. Make sure you hug your children.
Starting point is 00:46:14 They will feel better. You will feel better. I promise. Have a great one, everybody. Thanks for joining. Serenity now. Same time tomorrow. Peace out. This has been Investor's Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to garyk.com. That's GaryK.com. Guys, it's no use putting it off.
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