SPEAKER_14 0:01

Ladies and gentlemen, it's time for the John Truman Wolf Financial Hour. Now, here is John Truman Wolf.

SPEAKER_12 0:15

Hi everybody, John Truman Wolf here, the John Truman Wolf Financial Hour. Thanks for being with us as we broadcast live from the uh beautiful uh uh uh forest north of Los Angeles, and uh the sun is shining. Um although the uh the the weather up here is uh uh bizarre. Uh yesterday the sun was shining, it started raining, then it started snowing, and it snowed for, I don't know, a few hours, then the sun came out, and uh there you go. All right. My uh weather report from uh the Los Padres National Forest. Um let's start with the uh uh the investment structure of the country uh uh as it sits today. Uh the you know, we've got a we've got a war going in um uh we have a war going in uh the Middle East, and there are other wars uh going around the planet, but um uh the investment market seemed to be holding uh uh uh quite well. Um I say quite well. Let's take a look. The Dow uh is at a highest ever. It's a it's a fraction shy of 50,000, uh, but it will get there. Uh I'm guessing, I mean, any day it could go up a bit. It was up uh a hundred and something today, but um I think a fifty thousand dollar uh fifty thousand dollar Dow is uh is a given. Um and uh the war has not dented uh the upward trend of of uh of the stock market, the stock market generally. So certainly their individual stocks that have been affected one way or another. Um the uh precious metals have been holding pretty much at the same uh level that they have been at. There have been ups and downs in both silver and gold, but um not not huge ones of in the last few days. You know, gold has been up uh you know 10 bucks, uh, 12 bucks, uh, 16 bucks a day. Uh trading uh currently um just shy of five thousand dollars an ounce. Um silver um uh uh about eighty, uh eighty bucks, I think it's 79 something as we speak. Um but those have been holding uh strong, strongly, uh, and even uh the crypto markets uh have been uh uptrending. Now I say uptrending, I mean uptrending from uh the trough that they were in. Um uh Bitcoin uh currently in the neighborhood of 75,000. Uh for those of you that follow, you know this is down considerably from its high several months ago at about a hundred and well, I think it was 126,000. Um uh you know, down took a big hit uh down into the 60s, um uh the sixty thousand dollar range, and then has slowly uh climbed back up. Um I find it a little bit strange to tell you the truth that uh that that these markets are as healthy as they appear, given that we've got uh wars going on. Now, you know, hopefully this uh they'll could there'll be there'll be an agreement on this Iranian war. I mean, quite quite possibly this weekend. It sounds like and you read the press, I you know I can't tell how accurate uh those reports are, but that the that there has been um agreement among the parties uh in a lot of places, and they're going back, I think, this weekend to negotiate it. I'm John Truman Wolfe. This is the John Truman Wolf Financial Hour, and we'll be right back.

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SPEAKER_12 5:30

Okay, folks, we are back. I am John Truman Wolf, and uh you are listening to the John Truman Wolf Financial Hour, and I appreciate you being with us. Um talking about the uh the the prospect of this uh the Iranian war uh ending. Um, I mean, it's possible this weekend. Um the press does not confirm 100% that the parties are going back to Pakistan this weekend, but there is strong talk of it. Um I think the president said quite possibly um uh they would be going back this weekend, but there I haven't seen anything that says that they for sure are gonna go back and negotiate. Um uh but it sounds like I was surprised because uh uh from the last uh the sit-down, uh the 20 hours or whatever it was, a long uh discussion, then J.D. Vance came out and went, well, you know, there's no deal, the ball's in their court. Um, which kind of led me and I think most people to believe, well, okay, that's the end of that. But um subsequently, uh the president has uh uh made uh the point and more than once that um um there is progress. Um I mean I'm not sure what the I'm not sure what uh Iran's got to to negotiate. I mean their their their military is essentially uh gone. That doesn't mean they're not firing uh that that they still don't have some rockets and are firing rockets, missiles, etc. They are, but um uh not not to a large degree. I think their nave their navy's gone, their air force is gone. Um their leadership, um you can't tell who's in charge there. Uh I mean there was nothing from I mean the the um the former Ayatollah's son was appointed in charge, and then you didn't hear from him for several days. Um and more recently there have been news reports that he was injured or disfigured. Um and then yesterday I saw something uh by him, although there have been negotiations with others, so um it's it's confusing. I don't know to what degree um the CIA or the Mossad um have uh intelligence on who's in charge there, if anybody. Um and uh they really have no choice. I mean, I I'm sure there are um aspects of this uh uh quote war uh that uh the public isn't aware of, but uh the fact of the matter is um uh they're gonna agree to this or uh uh DJT is gonna turn uh turn the bombers loose again, uh which I hope does not happen. I'd like to see this thing uh uh wrapped up. Uh in addition to that, um there, you know, there's other peace uh negotiations going on. Isra uh Israel and uh and and Lebanon um uh may meet at the White House this weekend. Uh they have called a ceasefire. Um and I read a report yesterday from the um I I guess it was a foreign minister of of of Lebanon, uh going uh uh you know speaking uh uh derisively uh about Hezbollah and uh not supporting them, uh very specifically um uh making comments that uh you know they weren't needed or wanted. Uh so this was a big step. I mean that that w war has been going on for I don't know how long. I don't know when it started, but it's been years and years and years and years. So uh uh, you know, the Donald's getting some stuff done. Uh let's hope this Iranian war um uh wraps soon uh and the straits uh uh get opened up. Um they're uh you know the the Straits of Hormuz uh uh closed doesn't hurt the United States, um although I'm sh I'm assuming this is not the reason that that that they're closed, but um I've heard different reports. China gets uh apparently about 50% of its oil through those straits. Um and uh China is very oil dependent. That's one of the one of the things that we have up on them big time. We have lots of oil, they have to import huge amounts of oil, and um stopping the uh the uh ships going through the strait uh cancels the oil to China. Uh yesterday there was a report that uh Xi Jinping uh had agreed not to uh supply um Iran with weapons, uh, and you can bet that oil was part of those negotiations. Trump's headed over there in um uh well, I think the end of this month, um, which would be about ten days from now. So um, you know, he he he manages to talk to Xi Jinping, uh he manages to talk to Putin. Uh these people are uh uh uh you know are are are are are global dictators, but you can't get things done if you don't communicate. And that's to uh to Trump's um credit. Um people attack him for it, but uh you get you know, he negotiates, he gets in communication and negotiates and gets things done. Um I had a um uh uh a fellow uh that follows American politics from Canada uh send me a uh uh I don't know what you'd call it, an article uh basically hammering tr uh Trump. Um but but but missing the basics. I mean, there's more to Donald Trump than meets the eye. I am not a fan of his PR. I think it is foolish of him to attack the likes of I don't know, Merrill Streep and and and Taylor Swift and for God's sakes, the Pope. Come on. I mean, I don't think that does him or the office of the presidency any good at all. Um but so his PR is terrible, frankly. Um and I think these these uh you know lashes out uh at uh uh people that don't agree with him or uh say things contrary to what he's doing or what the administration's doing, I think is um uh foolish is not even a strong enough word. He can't his his his mental state is such that if you throw something in his direction, he has to bat it back. Uh this uh this is uh something I don't even think he has uh total conscious control of. You know, somebody says something negative and and and boom. Um I think it's uh foolish, foolish, foolish, foolish for him to be to to engage in this uh uh uh back and forth uh negative argument with the with the Pope. Um uh he's a hell of a negotiator. His PR is terrible. All right, we're gonna come back and talk some more about uh uh what happens with the the Straits of War moves closed. Uh when we come back, I'm John Truman Wolf, and we'll be back after these messages. Stay with us, folks.

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SPEAKER_12 17:31

All right, folks, we are back, John Truman Wolf, back with the John Truman Wolf Financial Hour. Um we're just talking politics a little bit as we broke away there. Pardon me, and the point I was making is that closing of the straits, um uh uh one adversely affect, I mean, the per the stated purpose was to squeeze Iran's economy, Iran's economy to the point that they agreed to all the deal points of the of the to whatever 10 point, 15-point memo. Um and that's uh the that remains, I think, the the primary purpose. But uh, as I said before the break, um uh China gets 50% of its oil uh through those straits. And in the conversation uh reported, as I was mentioning, uh between Trump and X just uh recently, uh X said he would no longer provide Iran with uh weapons. Apparently he was doing so. Um and you can bet that there was some uh negotiations, oil for for no guns, uh kind of thing. In addition to that, if you look at the maps, there are hundreds, I mean, a hundred and some odd oil tankers headed for Texas. I mean, if they can't get the oil from Iran, they're getting it from uh, I don't know what the what the big oil uh port is in Texas, uh Corpus Christi or or something like that. Uh so it has that um benefit, if you will, um uh just booming the uh you know the oil uh industry here. Um I think it's a huge side benefit and uh may or may not have had something to do with Trump's thinking. Uh he hasn't uh he hasn't briefed me, uh he hasn't briefed me on that. Um that said, um uh surprisingly, uh, as I noted at the beginning of the show, the US uh economy is doing well, the stock market's highest ever, presses metals holding strong, uh crypto um uh climbing uh um it's a wall of worry uh up to, as I say, it's around 75,000 as we speak. Um and I say this uh almost every week, maybe I say it every week. You have to look at these investment sectors from a long-term perspective. There are those I have friends, not only do I have friends, I used to do it. I used to be a day trader way back in the day, some many years ago. Um, and I made money and I lost money. Um, and it's uh, you know, it's a life. I mean, you're up at you know, 6 a.m. because the market in New York is up uh uh at that hour back east. And uh uh, you know, trading, I was trading commodities uh, you know, daily. Um it's uh it's a high tense um uh occupation, if you will. Um but um the the the uh my point was don't I mean unless you're a professional day trader, uh step back and take a look at these markets uh from a long-term basis. Where where where are they gonna be in 2030? I don't know, just off the top of my head. Um uh I have made the point that I don't want to sound like a broken record, but I'm gonna repeat it because uh if you're new to the show or you haven't uh made such a decision, grab some crypto. This uh uh uh investment sector, which uh was given birth on uh in January of 2009, uh is now a major factor in uh global finance. Um uh I mean a major factor, and it's gonna continue to grow. So it's at seventy-five thousand. It it's actually you know recovering from a major hit, as I said earlier, from a High of 125 down to uh I think it was 66, I don't know how low it got, but but in the 60s. Uh but you have to look at it from a long-term perspective and just buy some and sit on it. Uh, because as an investment sector, it will continue to grow. Um, and uh the same is true of precious metals. Um, an interesting article. Um let me grab it here. An interesting article in uh this uh press here. Good morning. Governor Abbott has signed uh transactional gold and silver into law. Uh when we come back, I'll tell you exactly what that means and how cool it is. I'm John Truman Wolf, and this is the John Truman Wolf Financial Hour. We'll be right back.

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SPEAKER_12 27:31

Okay, folks, we are back with you to John Truman Wolf Financial Hour. Uh talking um, as I I was right before the break. Let me read you this article, finish reading this article because I think it's so good. So cool. Governor Greg Abbott signed transactional gold and silver into law. Uh as a compontler, I will lead the implementation of Texas New Gold and Silver backed transactional currency systems through the Texas bullion depository to offer secure, inflation-resistant alternative to the US dollar. Um, the guy that's writing this is a guy named Don Afinis, who I guess is the controller of Texas, according to this article. Um I'll ensure this system is secure, transparent, and accessible, with real-time pricing, fraud protection, and no government tracking or central bank control. I will protect your right to financial sovereignty, making Texas the national leader in sound money. Uh okay, Don. Uh I think that's so cool. Um gold and silver now officially money uh in in uh in Texas. Um for those of you that uh uh have followed uh uh US history, uh you know that's how um uh transactions took place uh going back forever. Um and uh I can't remember when we finally quit officially um uh designating uh uh precious metals as money. Um but we uh we uh Texas has returned to it and it's smart. Um it's an indicator of where the precious metals uh markets are going to go. Uh you heard me talk and I'm sure others talk about the history of of of precious metals. I mean, gold and silver, depending on which one you take, go back to um pre pre-Roman times uh as as money. Um and they have been used for thousands of years. Um and so d you know, to to to um say a double negative, but to not have some in your reserves, I think is uh I think is foolish. Um uh these markets, these precious metals markets will continue to grow. Um and uh I mean w we've got um i i I don't know if it's hit thirty-nine thousand yet, it uh but we've got next to thirty uh thirty-nine thousand, thirty-nine trillion, sorry. That'd be like a couple of seconds of the interest on the debt. But the interest on the debt is um uh uh a trillion a year. Um and we're pushing, if we're not at 39 trillion, we're we're just about there. Um and they can't, I mean you hear me grouse about this, but it's it it it it do it drives me nuts. These these guys that are legislators, they cannot uh confront uh spending less than they they bring in. It doesn't matter how much they bring in. You know, to X years ago they're bringing in a few trillion. Uh now it's uh I think the budget is around seven trillion. Um but whatever trillion it is or millions, they have to spend more. They can't not overspend, um, which drives the national debt to the moon. Um and I think the only um uh I mean occasionally there are some sane voices um in Congress, but they are rare and they are few. Uh I worked uh I was doing some work on the Hill in years gone by um with uh Dr. Paul, Ron Paul, uh who is uh uh a really smart uh patriot uh who pushed and pushed and pushed for fiscal sanity, and his son, uh whose uh office I have worked with as well, uh, has done the same thing. Um but but the Paul family is in the minority. Um there was another guy, a senator from uh I've forgotten his name, I think it was Cowan, senator from Oklahoma, who was a very strict uh uh, you know, uh fiscal hawk. Um and he got cancer. I don't I I don't know if he's still alive or not, I don't remember, but he was terrific. But there are very few of those guys. And uh I it it just drives me crazy uh because these are the people that are leaving the country, that are making laws for the country, and they can't and they just keep they keep spending and spending and spending. Uh uh you know, okay, we got six or six trillion coming in in income this year. Okay, we'll we'll spend seven. Um they can't stop, they're like junkies. So um I think what the Texas has done is very smart. I would be surprised if there aren't some other conservative, you know, quote, red states that that don't do the same thing. Um I mean uh gold and silver uh have a price, but I mean, before this, uh I mean they were essentially money on a private basis, meaning um uh you know, gold is X dollars an ounce. Let's say gold is five thousand dollars an ounce, and and somebody wants to sell something for um uh five thousand, then you could trade uh five thousand in gold. Uh that system existed, but now it's a you know, now you can you can officially um uh spend gold and gold and silver to to buy stuff and it's uh it's actual currency. Uh we should go back to that, in my opinion. If you read pardon me. If you read the Constitution, um Congress has got uh uh the ability, I think it's the House has got the ability to determine uh currency. Uh they they those of you that listen to the show, I'm sure, know that in what was it, 1913, that the that the government uh gave up its uh its uh right to um uh control um uh uh the money and turn turned it over to the Federal Reserve Bank, um uh which is one of the biggest uh uh the mistakes in uh American history. Well, we'll talk a little bit more about that when we come back. I'm John Trim Wolf. This is a John Trim Wolf Financial Hour, and we'll be right back.

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SPEAKER_12 37:32

Okay, folks, we are uh back. I was uh grousing about the national debt that uh many others do. Um uh uh Rand Paul in particular, in particular, um is a strong fiscal uh conservative and the same guy. And he's um, in my opinion, he's probably the best senator uh uh in the Senate. Uh is a very sane guy. I don't agree with everything that he does, but 90%. Um and uh I I have worked with his office in the past on uh some legislation and uh worked with his dad, as I mentioned, worked with his dad's office uh uh prior prior to that. So the the Rand family has got a sound uh fiscal uh uh point of view. And uh Ron Paul, uh who was in the House, uh those of you that follow him was in the House for many, many years, uh, and finally was uh appointed to a committee. I think he was chairman of some subcommittee, and managed to um get a um audit done of the Fed um uh uh uh during a certain time. Not a complete audit from A to Z, but I think he got the audit done of what the Fed did with money during the financial crisis of uh 2008. Um and he had teamed uh unlikely pair. He teamed up with uh uh Barney Frank, the first uh openly gay congressman uh from uh I think I think Barney Frank's from Massachusetts, and the two of them uh uh uh joined forces and managed to get a um an audit of the Fed uh during the financial crisis and showed all the uh US dollars that the Fed uh gave to other central banks in the world, not in the U.S. Different parts of the world. Um I mean talk about a talk about a deep state uh betrayal. Um uh there is one. Anyway, let me go back to the to the point I was making, which was just validating this Texas um uh adoption of gold and silver as formal money. Um I think it makes great sense. And if you're an investor, uh take a step back and uh uh look at where precious metals uh uh uh in my opinion will be going. Um they'll continue up. I think ten thousand dollar gold, ten thousand dollar an ounce gold is a given, in my opinion. Um uh not you know, not tomorrow, but I think it will get itself up there. Um and that's because uh I haven't seen any effort uh to do anything uh to cut back on the insane spending that the U.S. Congress does. Uh I'm a fan of Donald Trump. Uh by that, I mean um I uh I he he's a very, very, very productive guy. Uh I'm not a fan of this PR. Uh I think his uh I think his you know attacking the likes of of of the Pope is foolish. I think it uh diminishes his stature and that of the office. Um uh and generally he you know he he does a uh a great job of getting things done. He's a productive guy. Um uh you can be upset with uh other aspects uh of his uh personality or his presidency, but he gets stuff done. But uh if he's gonna get stuff done, the real danger in this country, the real uh situation that cries out for um uh uh a handling is the national debt. Um maybe, and this is my hope, uh these tariffs will um because the tariffs are are generating a huge amount of income. Um I mean I can't imagine that the b they couldn't balance the budget uh this year because uh tens of thousands of government employees have been let have been let go, uh and this tariff income is in the hundreds of billions. Um uh so uh you know, I don't have the hard numbers in front of me. But uh both of those things are indications that uh income uh should go up with the tariffs and uh expenses should uh decrease substantially. I I I should uh I'm I'm trying to remember the number of of US government employees that are no longer working, but it's a big number. Um and uh you know, I mean these government employees get you know very substantial salaries. Uh uh every time I've seen uh you know just a somewhat routine uh functionary, bureaucrat, uh they make six figures uh and uh and above. Um I don't mean above in some figures, but they make uh, you know, uh 150,000, 250,000, and there's lots, lots of them. Um you begin to see if you read the Rand Paul um um issue uh that he puts out about the the the waste uh of government money, it's uh it's staggering. And then on top of that, you currently have um uh the the billions and billions and billions of fraud uh that is coming to the surface. And that uh that situation is is long from over. Um Anyway, we'll come back and talk a little bit about the California Francis and when we come back. I'm John Truman Moore. This is the gentleman Financial Miller. We'll be right back.

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Come visit a relaxed, family-friendly restaurant for American Eats and on-site bakery and comfortable atmosphere. It's the Hill Street Cafe in Burbank, California at 3301 North Glenoaks Boulevard. Open seven days a week from 8 a.m. to 3 p.m. Sunday through Wednesday and 8 a.m. to 9 p.m. Thursday through Saturday. Enjoy all day breakfast from eggs, omelets, breakfast bowls, biscuits, pancakes, waffles, burritos, and more. At lunch and dinner, devour burgers, sandwiches, salads, wraps, tostadas, fajitas, enchiladas, quesadillas, chicken, pork, steaks, turkey, fish and chips, and pastas to adore. And ask about our daily specials and senior dinners, too. Plus, our beer and wine bar. You can also order online with delivery, too. It's all at the Hill Street Cafe. Call 818-845-0046 or go to Hill Streetcafe Online dot com. That's Hill StreetCafe Online.com.

SPEAKER_14 46:57

Are you ready to savor the taste of wine country's finest? Join hosts Larry Van Alst, Michael Haney, and Chef Dustin Villette for an exceptional journey into the world of fine wine and cuisine on Vine Wine and Dine. Live from the Matheson in Healsburg, California, it's a celebration of Sonoma's Farm Fresh Locally Sourced Culinary Treasures. Vine Wine and Dine is a delightful fusion of wine, food, and culture that defines the heart of Sonoma County. Tune in Wednesdays from 6 to 7 p.m. Pacific time on CRN 1.

SPEAKER_12 47:45

All right, we're back. John Truman Wolf back with the final segment of the John Truman Wolf Financial Hour. Um I was talking about uh or started to talk about the uh the the the the fraud in California. Um it's endemic, folks. Uh uh it's uh the this money this money flows out of uh your tax dollars um and uh you have criminal elements. I mean Minnesota has been a uh kind of opened the door to this with the Somali uh public up there uh just ripping off the taxpayers uh horribly. But um some researchers started uh uh uh exposing the fraud in the California system, I think, of um uh uh it was a certain segment of the of the uh uh I think folk hospices, I think it was, or something like that, where uh uh people in a distressed situation got govern government money and uh the amount of fraud that got looked at there just a just a service was is huge. Um so talking about the budget and the $39 trillion uh deficit, uh not only are government employees by the tens of thousands uh um no longer employed, uh uh meaning the cut the the wages, the cost of their wages is non-existent now, but billions, that's what it'd be, dollars of of of welfare fraud of different kinds, uh is coming to light. This is just starting. I don't know if it will continue, if the if the uh uh government's got the guts to continue. I mean, Trump put uh J.D. Vance in charge of this, uh this whole area of fraud, and hopefully the guy has got uh uh won the guts and the confront and the organizational ability, which I think is really what is key here, uh, to identify this fraud and stop it, and it will save uh boy, untold billions of dollars. Um California, I think is the is the jackpot uh jackpot of this area. We'll see. I hope it goes forward. I I I think uh from what I've seen of J.D. Vance, I don't think he'll let go of this. I think he'll he'll he'll go forward. So we've got another uh what three three years of of uh of a Trump administration and if Vance uh uh runs and re and is re-elected in 28, then that's another another four years. Um if you pay people to be non-productive, guess what? They'll be non-productive. The welfare system in this country is insane. Um and uh uh different segments of the population are paid not to produce uh uh in one way or another, and you've got uh uh it results in uh billions and billions and billions of wasted money. And if somebody uh got their act together, they'd actually balance this budget. Um all right, I'm John Truman Wolfer with you every week this time, this station. Uh look forward to talking to you next week. Um recommendations as I do often. Uh get some crypto, get some Bitcoin and Ethereum, uh, get some gold, buy some American Eagles, buy some silver. Um both of those uh investment sectors will serve you well in the uh in the future. And subscribe to my newsletter, uh Strategic Financial Intelligence at strategic financial intelligence.com. See you next week, folks.