SPEAKER_11 0:02

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

SPEAKER_12 0:16

Hi, everybody. John Truman Wolf here. The John Truman Wolf Financial Hour. Thanks so much for being with us. We are broadcasting live from the Los Padres National Forest, deep in the mountains north of uh Los Angeles. Gorgeous day up here. Um beautiful day. And uh hope it's nice where you are. Uh let's take a look at the investment sectors of the country as we do at the beginning of uh every show. Um the um you know the the equities markets uh we've been talking about this actually for for a long time. If I look back in time, I mean we've uh I've been uh calling this um increased uh equities markets for many, many, many, many months. Uh as has have others. I'm not the only person that have said uh stocks are gonna continue up. Several people have said they're down. Um, but uh uh putting their toe uh towards the uh 50,000, uh the Dow putting its toe towards the $50,000 range uh is to be expected, and I think it'll continue. Um unless there's some uh you know catastrophic event, um, I think it will continue up. Uh needless to say, this war uh uh isn't helping. And uh should uh there be some cataclysm and cataclysm in in this war, um uh that could send the uh the price of stocks down. But um in general, looking at the graph here, uh it's uh the Dow Jones Industrial Average, in my opinion, is not done going up. Um uh precious metals uh uh continue to sit in the um uh just below uh for gold 5,000 an ounce. Um uh hasn't hit uh I mean it touched there and then uh pulled back, but it's just been uh treading water uh similar uh for silver, which had gone up uh you know a couple of months ago, um soared up to um uh I can't remember exactly what the top was, but you know, 100 an ounce, uh backed way off here a few weeks ago and has been climbing uh back up um uh in the $80 range uh for silver and um a hundred dollar an ounce silver is not at all out of the question. Um moving to uh crypto, um uh bitcoins uh you know treading upwards. If you look at a graph, it's just kind of inching up every day. Um uh you look at the again, look at the graph, you can see that it hit going back several months, it hit a high of about 125, 126,000 uh Bitcoin I'm talking about. Uh, and then uh there's a point uh a couple months ago where it uh tanked down to 60 some odd and is now trading in the high 70s, and I think it will continue up. So uh needless to say, we'll continue to follow uh all of those markets closely uh with uh the eye towards your uh experiencing some capital gains. All right, I'm Bruce We. I'm John Trummel Wolfe. Uh this this is it, this is a John Truman Wolf financial hour, and we'll be back right after these messages, folks. Stay with us.

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SPEAKER_12 5:32

Here with the John Trun Wolf Financial Hour. Um I wanted to start off with this uh article about uh Treasury Secretary Bascent uh calling for legislation in the crypto market. It is uh uh he's saying what I've been saying, not that he's uh not that he's following my advice, but he's making the point that several people have made. But when the Secretary of the Treasury makes it, it's um it it shows that the crypto has gotten to uh become an integral part of the financial system. Um let me quote here, Treasury Secretary Scott Bassent urged Congress to swiftly pass the Bipartisan Clarity Act, arguing that the United States risks losing its global financial leadership without a clear regulatory framework for digital assets. Now, this is a point that has been made for um, you know, I don't know, a couple uh at least the last couple of years, uh, and the industry has called for this regulation. Um, it's not as if the government is uh enforcing legislation on the crypto industry. Um I'm not saying that every uh crypto um uh manufacturer holder um uh uh likes the everything that's in the act, but this is an act that regulates the crypto industry, and the industry has been dying really for some kind of structure. Uh, and this act provides it, the Clarity Act, um, and uh uh sent making making the point that uh we need to have it or we'll lose our our dominance in the crypto industry. I I don't know that I don't know that I would say that we are dominant in the crypto industry. Um we are uh near the top of that food chain. Uh maybe we're at the top of it. Um I don't know exactly how you measure it, maybe with the amount of uh crypto uh invested per c per country. I don't know if anybody's done that. I'm sure there's a graph somewhere that shows that. But um, you know, we have taken a leadership position. For those of you that follow the show or follow the industry, you know Trump uh uh you know, going back some years was not crypto friendly. And I think his uh his sons uh got him on board. Um and um so in the last, I don't know, few years, uh he's come over to the crypto side and has now spoken uh extremely positively about it. Um and um he you know he let go the former head of the SEC that was very uh anti-crypto. Um, but that's not the case now, and he's got somebody in charge of it that's crypto friendly, and this legislation, um and I confess I have not read the entire bill, uh, but this legislation um uh is needed. Um there needs to be so you know some uh boundaries so that if somebody for those that are in the industry, those that are in entering the industry, you know, know what they can and can't do, at least per the lie uh per the law. Um reading uh a little further with this article, in a guest column published in the Wall Street Journal on Wednesday, Bassent framed cryptocurrency and blockchain technology as no longer a quote niche, a nice experiments, noting uh the market has reached trillions of dollars in value and is now integrated into payments and financial in infrastructure. The point that uh uh I made on the show for months and months and months. Um uh he warned that uh regulatory uncertainty in the US, particularly overlapping jurisdiction between the Securities Exchange Commission um and the Commodity Futures Trading Commission has driven innovation um overseas to jurisdictions such as Singapore and uh Dubai. The Clarity Act now uh advancing in the Senate aims to restore sorry to resolve that ambiguity by defining when digital assets are securities or commodities. This is an important point, folks, for those of you that listen to the show regularly. You know, for uh a year or more, um the the former uh head of the SEC uh continued to try to um identify or label uh cryptocurrencies as securities, uh and uh you know many firms said no. Uh lawsuits ensued, etc. Um, but that guy is gone, and there's not a blanket um uh adjudication that cryptos are securities, but uh there you know there apparently uh continues to be some question. Um and so uh Bassent is making this point. Um and the and the uncertainty there, or the fact that it's not down in law, you know, cryptocurrencies are not uh securities, uh has driven the um the industry overseas, he says. Uh the Clarity Act, now advancing in the Senate, aims to resolve that ambiguity by defining when digital assets are securities or commodities, uh establishing registration pathways for exchanges and intermediaries, and imposing disclosure, custody, and anti-money laundering requirements. Um you know if you've got uh uh a couple minutes, pick up the phone and call your legislator legislators, and uh push the approval of this act. Uh get something on the books that provide some guidelines and some channels for uh for the industry. According to the Senate Banking Committee, the legislation is designed to quote, replace uncertainty with clarity, end quote, strengthen uh strengthen enforcement against fraud and and prevent collapses similar to the FTX by bringing the industry under consistent uh federal oversight um carrying on. Bassett argued the bill is essential to uh to complement the Trump administration's earlier quote genius act, which created a regulatory framework for dollar-backed stable coins. Um for those that aren't familiar with stable coins, they're basically uh cryptos that have some kind of um uh strong asset behind them, gold, treasury bills, something of that nature. The law marked a significant step forward integrating digital assets into the U.S. financial system by reinforcing the dollar's role in blockchain-based technology. So uh we're getting there. Um there needs to be more specificity in governing uh cryptos, and this is a piece of legislation that'll do that. Okay, I'm John Truman Wolf. This is a John Truman Wolf Financial Hour. We're gonna take a short break and be right back. Stay with us.

SPEAKER_11 14:28

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SPEAKER_12 17:28

All right, folks, we are back. I was talking about this legislation in Congress to uh put more guidelines into the uh crypto industry. Uh just to finish that off, um to get together, but I'm picking up on this article now. Together the two measures reflect a broader Trump administration strategy to incorporate digital currency into the government's financial architecture while maintaining uh U.S. dominance in the global markets. Quote, the promise of the gene of the Genius Act can't be realized while the Clarity Act support, uh cent argued. The uh stable coin, uh well, anyway, I'm not going to continue reading it. So it's a lot, it's a long article. The point being very simply that this uh uh investment sector has grown now to the point that it's a major factor in um in the government's economy, actually in world economy. We'll touch on a couple articles that get that get into that, because uh cryptocurrency is part of the um uh treasuries uh of not only of several U.S. states, because there are states that have that have bought Bitcoin as part of their um treasury assets, as well as countries. Probably the most notable is um uh El Salvador, uh, and the president of that country is a big crypto guy. And I can't uh I don't remember exactly how much uh Bitcoin he's got, but he's been he's been he's been doing well um uh with with crypto and his uh and his company's uh uh treasury. I can't bought some millions of dollars worth worth of crypto, and um uh uh different companies have done the same thing. Um there's several uh uh several companies. Uh like there's one here in the US that's way up there. I don't remember its name, I should, but uh uh several companies uh do that um and are starting to do that, and more are just starting to do that, and more countries are starting to do that. And um uh it's a sector that just grew up out of nowhere. I mean, uh there was no Bitcoin uh earlier in in the 2000s. Um the the famous story of its birth was Satoshi Nakamoto uh introducing uh Bitcoin to the world in uh January of 2009, um and it was trading for a few cents. Uh back then there's a famous story of um uh somebody um uh buying some pizza, I think it was for ten dollars worth of Bitcoin, but it was uh it was you know something like that. Uh and that's not that long ago. I mean, uh 2009, what we're talking about 15 years, uh, and now it is a multi-trillion dollar industry. Uh and bitcoin is not uh uh a few cents. Uh it is uh uh trading in the in the neighborhood of 78,000 as as we speak. So um there are um uh countries around the planet that um uh uh are be uh you know seeking to become uh uh the the location of um cryptocurrency, uh bring you know bringing capital into their country. Here's an article, Ubekistan uh lures global crypto mining with a 10-year tax holiday. Um Ubekistan opens doors for crypto mining operators uh with significant tax benefits. Um the story goes on. But it's uh that that gives you that's an example of what we're to what we're talking about. Uh I uh I've never been to Ubekistan. I've traveled the world uh a fair amount. Um I've never been to Ubekistan, I've never had an uh an interest in going there, but um uh places I have traveled are you know into uh uh crypto in a big time. In a big way, in addition to the United States, uh, you know, Japan. Uh I've traveled to a number of times in Europe and yada yada yada. Um so it the the the point being, I don't want to beat it to death, but the point being that this is uh you know part of the financial architecture of planet Earth uh as we speak. And there are uh thousands of cryptos. Um uh Bitcoin and uh Ethereum are the two big ones, and between those two, they have about um 70%, 70-75% of the global investment in crypto. So uh if you're gonna stick your your your toes in there, those are two that you're reasonably safe with. All right, we're gonna take a short break. I'm John Chairman Wolfe. Uh we'll be back in a couple minutes and talk some more about the growth of crypto on planet Earth. We'll be right back. Stay with us.

SPEAKER_04 23:27

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SPEAKER_12 27:30

All right, folks, we are back. John Truman will be back with you. Thanks for being with us. Talking about the uh really the global um uh incidence of uh crypto into the economics of the planet. Um here's an article. Data from Japan could reframe the entire SWIFT replacement debate. Japanese banks have confirmed XRP powered remittances remittances settled in under four seconds at uh 60% of SWIFT's cost, eliminating uh intermediate uh intermediary fees across uh real uh condors between Japan and Southeast Asia. This is bullish for XRP price prediction. Uh you know, folks, for those of you that listen to the show, uh know that we followed this uh debate between the SEC under the Biden administration and uh uh Ripple, which is the company that owns uh XRP. Um and there has been often on talks of XRP replacing the SWIFT system. XRP is a crypto that facilitates um international bank transfers. Um and um uh there there's growing talk, uh not done, not uh uh the ultimate uh conversations, but growing talk of XRP, uh that technology, Ripple's technology, replacing the Swift system. Uh Swift is the existing uh system for international transfers. Uh if it does, uh the price of that stock will be out the roof. I don't I didn't look at uh what XRP's uh selling for before today's show, but the la I think the last time I looked at it was a couple of bucks. Um it would be a good buy, you know, if you're if you're gathering uh a modest uh crypto portfolio portfolio, I would get a bit of XRP. Um I think it's I think it's two two dollars, two dollars and thirty cents, something like that. So you could buy a boatload of it for a very modest amount of money and and and sit on it. And if this move gets made, this move meaning uh if the um uh uh international money transfer uh um world switches from the Swift system, uh which has been the basis of that uh activity for decades, to uh XRP, uh the price of that stock. I don't know how high that stock could go in such a situation, but it would certainly soar from where it is, and uh you're not about to lose anything at at two bucks. I mean, nothing substantial. Um that said, you know, investing in crypto, you have to you have to say these things, which happen to be true, that uh, you know, that's risky investing, um crypto investing, and and you could lose your money. Uh that that said, um it's a possibility. Um I'm talking about the you know, investment uh uh advice that I think uh will be beneficial to folks, and I think XR XRP would be uh a good part of a crypto portfolio. Again, I'm it's less than three dollars. I forget what the exact number is, but uh you know, you could spend a very modest amount of money and and grab some uh grab some XRP. Um moving further on to the subject of the uh uh international growth of crypto, uh here's an article quote one of Singapore's largest banks has just handed Ethereum a significant institutional vote of confidence. Uh OCBC, that's gotta be the uh acronym for a bank, has launched Gold X, a tokenized physical gold fund on Ethereum. Tokenized means um the tokens now represent the underlying uh asset. Uh this is a move that will quote reshape how Asian institutional capital flows into public blockchain infrastructure. Following this, our ether okay, no, we don't want to go there. Uh get a little too complicated. So uh there's some uh there's some crypto activity in Singapore. We just talked about Japan. Um what's this one? Uh this is uh Bitcoin price jumped uh two and a half percent two and a half percent after Trump confirmed an extension of the Iran ceasefire and the market moved exactly as um prediction suggests. Um you know it was it it was always um the case uh in years gone by if there was international tension or certainly wars, um assets like uh precious metals, gold in particular, always went up. Uh that hasn't been the case of late uh as predictably as it was in the past. Uh that said gold has had, uh has had, and and will continue to have its run up, its bull run up. Um, but it wasn't the war that was driving that, it's other factors which we have talked about and which I have written about. Um and uh uh that same philosophy uh is part of what's uh dri you know driving crypto uh as an alternative to the dollar. Um uh this war seems to be dragging out now. Uh Trump is uh said today in uh uh in a press conference that he's not in any hurry to be forced into settling. Um I think uh uh I I think probably everybody thinks that the sooner the better, uh Donald J. Um and uh uh while the while it's uh while it remain uh while it remains unsettled, uh the price of crypto uh will uh will continue up. Um you know uh the war uh sometimes there are legitimate reasons uh to to you know to to attack another country. Germany uh prior to World War II is a good example. Um, but overall uh such activity is not good for the planet, and uh whether whether it's good for um uh assets or not is uh is uh beside the point. All right, I'm John Truman Wolf. This is the John Truman Wolf Financial Hour. We're gonna take a short break and we'll be right back.

SPEAKER_09 35:26

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SPEAKER_12 37:31

All right, folks, we're back. John Truman Wolf, we're back with you. Um, and I you know I touched on on a major subject here as we as we went to break. Yeah, war is never good. Um uh and uh and you know uh you could almost always negotiate your way uh around a war. I mean, besides uh b destroying the country of Iran, I don't want to get into talking about their theocracy because I think that's uh insane, frankly. But um, you know, they could have um they, meaning the United States government, could have implemented uh the uh economic pressures that they are uh implementing now in the Gulf of Hormuz and so forth, cutting off Iran's income until they came to the bargaining table. Um now they've done that uh follow following a massive uh bombing campaign in that country. Um, but uh uh uh there's nothing that says they couldn't have done that without uh all the death and destruction. Anyway, I'm not sitting in the White House or over the Department of Defense. That's just uh uh my point of view. Um and and to get back to what we were talking about, you know, wars tend to uh move up the price of assets, uh such as uh gold and in this case crypto. We've got a uh uh uh a growing crypto graph. Um it had uh it was way up and then uh took a big hit and then has been climbing up from the 60,000 range uh to its current uh price uh approaching 80,000. Um another article about um the international spread or the international existence of crypto. Uh quote, ripple partners with Korea's Kyobo Life to tokenize government bond settlement. Um the deal is Ripple's first with a Korean insurer and targets near real-time settlement of Korean treasuries, uh, though the release stops short of committing to a live volume or timeline. I'm not sure what that last phrase means. Um and if you know you're interested, you could uh uh dive in and uh see about a relationship between Ripple and Kyobo, KYOBO life insurance company. My point in reading this or touching on it is the fact that um uh Ripple, uh a crypto, uh is an example of a of a of a crypto reaching out internationally. I mean, we've talked uh just in the last uh 40 minutes or so, we've talked about Japan, we've talked about Ubekistan, now we're talking about Korea. Um so this is this you know continues to show the in the the deep nature of uh cryptocurrencies as part of the global uh financial scene. Um it's not going away. Uh last time I looked, uh the crypto uh capitalization was um uh I think it was 2.5 trillion. That's with a t that's with a T. That's a lot pardon me, that's a lot of money, folks. Uh two and a half, two and a half trillion. And uh I think it's gonna do nothing but nothing but grow. Uh people are now putting uh cryptocurrencies into their 401ks. You can buy uh ETFs, um, you know, uh Bitcoin ETFs, Ethereum ETFs. Um ETF is an it's we've cleared that before, but just to make sure uh we're not going by uh concepts not understood. An ETF is an exchange traded fund. That's a fund that uh invests in a particular sector. So you do you can and and you buy the funds like their stocks. The funds trade like stocks. You can buy um uh you know BlackRock has got a a Bitcoin uh uh fund. Um and there are several now crypto crypto funds. The advantage is that you're buying something that has got its uh investments in usually a variety of the sector in which you are wanting to invest. I mean, this is true for everything from uh uh cattle, cotton, sugar, timber, real estate, whatever you can get ETFs in just about anything. And in that case, you are buying the expertise of the people running the fund, and those people then are often buying and selling different assets of the kind that you want to invest in. Um you know, you you you you think the timber market's gonna go well. So you can buy a timber ETF that has got investments in you know, in different timber companies. Uh, you can you can buy gold ETFs, silver ETFs, all kind, you know, all kinds of them. Um, and that way you get your crypto, crypto, uh, you get your Bitcoin uh uh being uh you know bought and sold by people that theoretically are supposed to know what they're doing, so supposed to know what they're doing. Um and you can read up on how a particular Alright, I'm John Trimm. This is John Trimmore Financial Apartment. And I want to take a break and we'll be right back.

SPEAKER_08 44:29

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SPEAKER_12 47:31

Okay, folks, we are back with the final segment of the John Drummond Financial Hour. Um I noticed the uh uh the the stock markets went, I've talked about the equities markets at the beginning of the show, but uh looking at the fact that the markets are now closed down, uh the uh the Dow is down, I think, 180 points. Uh this in uh appears to be in direct um uh response to oil now climbing over $105 a barrel. Um and uh oil keeps climbing. I I it's not good for stocks. So uh let's hope this uh war wraps up uh uh quickly um and um the the strait gets opened up. Um you know there's positive developments in the Middle East. Um uh Israel and um uh Lebanon are talking. Um I don't know. The the the the infamous Russian-Ukraine war has basically fallen to the back pages uh of uh news. Um uh uh you know uh somebody ought to oughta put uh Vladimir Putin in a home for uh global killers. Um you know, I mean this guy has uh uh uh been attacking and and and and killing people uh in the Ukraine because he thinks uh that country uh uh belongs to Russia. Uh clearly if you read the uh history, just to deviate for a second, the history of the Russian uh Ukraine war, you can see areas where uh uh diplomacy would have worked. Um uh Vladimir thinks he's a tough guy, and uh maybe he is, uh, but it's uh uh unbelievably uh wasteful and destructive. All right. So uh just to wrap up here, let me put in a plug for my uh newsletter at Strategic Financial Intelligence, Strategic Financial Intelligence.com, uh among other things we'll talk about um uh the incoming issues, uh different uh uh proper investments during an inflation. Um you know if you have if you don't own any um rental real estate, it's a good place to invest. You know, a d duplex, a triplex uh bank will uh uh require you to put uh probably 30% down, but uh in that case, it'll give you a positive cash flow, number one. Uh the value of real estate will uh uh uh go up. Um I mean, when has real estate not gone up? Very, very rarely. Um I remember um I grew up in a little town in Northern California called Lafayette. I remember riding my bike out to uh a friend's home, um uh a new development that this goes way back, folks. And these homes were, you know, nice. Uh this was a residential community. Uh pardon me. Um, and the homes I remember were 23,500. Um, and uh and as uh fate would have it, my oldest daughter uh in recent years bought one of those homes and was having it remodeled. Uh and I asked her what the home was worth these days. She said, uh about a million dollars. So so from uh from from 23,000 to a million, um, that's over a period of time, but real estate goes up. And uh with the uh rental real estate, you get tax benefits. So you get appreciation, cash flow, uh, and tax benefits. Uh all good things. All right, I'm John Truman Wolf. This is a John Truman Wolf Financial Hour. We're with you every week uh at this time, same time, same station, uh, and we'll look forward to talking to you next week, folks. Uh have a good one. Bye-bye.