SPEAKER_04 0:00

It's time for the John Truman Wolf Financial Hour. Now here's John Truman Wolf.

SPEAKER_02 0:12

Hi everybody. John Truman Wolf here. John Truman Wolf Financial Hour broadcasting to you live from the uh beautiful Los Padros National Forest. Um talking to our producer. There's uh smoke down in um the LA basin. Uh I'm up in the mountains away from that, but I've been watching this um uh I forget sandy fire, I think it's called down in Simi Valley, but there's uh fires all over California. It's uh um it's a mess, uh frankly. And I live in the middle of a forest. I live in the middle of a national forest, so we keep our eye on that kind of stuff. Uh but up here today it's uh it's lovely and the and the smoke hasn't reached us. Okay. That's today's uh uh weather report. Let's take a look at the uh the investment uh scene um across the boards. Uh the Dow has uh now busted over 50,000, uh something that uh perhaps uh many uh have doubted over the years, but it's up uh almost 300 points over 50,000. And um at least for the time being, folks, it's gonna continue. Uh up. Um uh Lord knows what'll happen when this Iranian uh war, if it's uh legitimately called a war, uh ends. Um uh uh you know, it it will it will soar. Even today's move up is uh uh accounted for because of uh uh a near agreement. Uh it appears that the Pakistani uh the head of the military of Pakistan has been kind of uh carrying the water back and forth, and um uh it looks like it's close. Let's hope uh let's hope this thing ends. Uh the point is that it will drive the Dow, I don't know how high, but it will be a major uh a major move up in the Dow when this thing gets uh when this thing gets settled. Oil should go down. Oil was down today. Um the precious metals had just been essentially flat. Um uh uh gold not reaching uh the uh uh its effort to hit five thousand dollars an ounce. Um it's below that by a few hundred points. Uh silver trading in the high 70s. Uh of course, that's you know, looking back a few years, that's miraculous that silver is trading uh uh damn near $80 an ounce. Um really quite something. The uh the cryptos have just been uh lackluster. Uh Bitcoin um uh had been crawling up the last several days um and then has fallen back a bit is trading uh around uh 77,000 uh as I speak. Um I think the key to go back to the point I was making earlier, the key uh issue here is uh if this uh if this war gets wrapped up um and uh price oil will go down. I think the can I I I haven't looked at all of the bullet points. The contentious um uh issue seems to be control of the state of uh Hormuz. So hopefully they can get that agreed to and we can move uh we can move forward in um in peace. I'm John Truman Wolf. This is the John Truman Wolf Financial Hour, and we're gonna take a short break and we'll be back right uh be right back. Stay with us.

SPEAKER_12 4:24

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SPEAKER_02 5:35

Okay. Uh John Truman Wolf here with the John Truman Wolf Financial Hour, and we are back. Um, and uh, you know, it's getting historic. We're uh joined with our friend Michael Letz, the CEO of Investusa.org, that nonprofit that helps uh uh police investusa.org. And um, you know, Michael, uh, we talk damn near every week uh with Tuesday's results and the Supreme Court decision on redistrict uh redistricting. Uh the Republicans are looking uh pretty good for the um for the midterms. What do you think?

SPEAKER_15 6:17

I think so. I think you know, one of the things that still concerns me, we've had these discussions on the Hill. But I still think that, you know, we have to show that we are holding people accountable. I will tell you this, Sean. I mentioned it to you before on the air. You know, we do have some tribunals underway that are fixing to be disclosed. We've got a number of cases that are fixing to pop in the next two weeks to three to four weeks. So I believe we'll be able to accomplish that. And I believe once we do that, and we'll have this issue with Iran settled, the economy will be moving forward the way it's supposed to. Gas prices will come down. I think you'll be invincible then. I think you know there's still those who are a little upset and concerned about gas prices, none of us want to pay any more than we have to for gas. The fact of the matter is, John, is this we have to secure our future for our children, our grandchildren. And that means the same thing you're seeing happening in Cuba now. If that means uh we have to have a little bit of inconvenience to make sure that terrorism, nuclear proliferation, and other things are contained and controlled. And we're just gonna have to suck it up and realize that, so be it. But I'm confident that the president has the program necessary to get these things wrapped up before we get into uh the really heavy part of the election cycle.

SPEAKER_02 7:39

Yeah. Well, it sounds like the uh what is it? I think is the the the major military guy in Pakistan's kind of carrying the paperwork back and forth. It looks like it's pretty close, uh, Mike. Uh I would agree.

SPEAKER_15 7:54

Uh you know, one of the things that the president's not gonna allow to happen is to uh have them quote unquote resolve it on unfavorable terms. They still keep nuclear armors, they still keep funding terrorists, et cetera. We're just not gonna allow that to happen. And I think, you know, the Iranian people are ready to move as well. So there's a lot going on that you're gonna continue to see changes far after the time that we close it out on our end.

SPEAKER_02 8:21

Well, I I think, you know, I think uh uh, you know, I'm in uh I share the views of many in our country and certainly the millions in Iran that uh this uh uh uh aberrated theocracy will be removed uh and these people will will be back to a you know a sane a sane government. I think uh another point, uh, Mike, that looks like it's a plus is there have been some rumors that uh that Putin wants to end the war. Um and I I think that would be terrific as well. I mean, that war has been such a waste of of human life. Uh the soldiers killed on both sides of that war is a travesty. And um uh it sounds like maybe Vladimir is is uh uh looking at um uh you know his finances and uh the loss of life in this country. I don't know if you have any uh information on that.

SPEAKER_15 9:26

Well, I do, and I will tell you one thing that affects our country greatly, and that is the um politicians have been telling us that, oh, we're trying to defend democracy in Ukraine and it's worth every dime we've spent. And then when we look at the reality of the matter is 70% of what we've given in terms of aid and military equipment orders never made it to the battlefield to begin with. It's been used, it's been sold on the black market. Many of those orders are now in Mexico facing us to be used against us. Um, and then money itself has been used for politicians in Ukraine to have mansions in many locations across the world. I think once America sees that we've been duped, that really is the bottom line. We were duped. Politicians use that uh rhetoric to fund programs where they actually got money back as well. And all that's gonna be coming out here shortly, John. I think people are gonna realize that we're tired of being duped and we support what Putin is trying to say as well. Let's let's all get some common sense about us in these matters and move forward in a productive way globally.

SPEAKER_02 10:40

Yeah, I have I have um I've long been a fan of uh Tucker Carlson in the last years or uh the last six months, I've kind of lost that uh that favoritism. But uh he just did a um an episode of Zelensky, and um uh I'm gonna walk I haven't watched it, but it looks like it's the you know, this guy Vladimir Volinsky, you know, when you talk about him and the and the I don't know how many billions we've sent over there, Mike. I mean it's a staggering amount of money. Um and and it's you know, as you as you very importantly point out, that money's not getting to the front lines. Um you know, you go back to the um uh you know, the point where Hunter Biden was on the board of Barisma, and uh, you know, uh Joe Joe Biden says, you know, you fire the district attorney or you're not getting a loan. I mean, that place is uh uh a land of graft, um, as far as I can see.

SPEAKER_15 11:49

Well, I think you're exactly right, and the American public is fixing to see that. And so you you tied it back into the midterm elections when suddenly they start seeing our policies working in Iran and in Cuba. I told you Cuba's fixing to collapse. When they see you know the policies working in Ukraine, when they see that we are going after and holding people accountable for uh stealing basically from the US Treasury, among other things, corruption of power, etc. And they begin to see people being held accountable. I think what you're gonna see is a landslide, but not the way the Democrats are hoping for. A landslide the other way where people are gonna want more and more of beginning to really finish training in the swamp.

SPEAKER_02 12:29

Yeah. What uh uh quickly, what is your view on uh what's gonna happen in Cuba, though? You know, we uh uh indicted uh uh Castro yesterday. Um and we're not I I mean, we're not gonna what's gonna happen there? I don't know. I'm uh I'm a little bit up in the shirt.

SPEAKER_15 12:50

Here's what's going on. Cuba's economy is collapsing because of we've cut off the oil supply from uh Venezuela, Russia tried to send some tankers over there. We intercepted those that Russia wisely said, bring them on back, and the their economy just will not continue to substantiate what they've been doing. And so uh their government is collapsing, and we're going to intervene and try to sell this thing through diplomacy and establishing pre-Cuba once again. And I think that's when we see that happen very shortly, and uh it'll be a different day. You know, let me just throw this out real quickly. Uh Intel shows that we are looking at uh Cuba. So our presidency has been looking at establishing drones like they have in Iran. We're not gonna allow that to uh occur 90 miles off our goal. Uh we just need to do that.

SPEAKER_02 13:38

Right. We're not we're not for sure. All right, folks, talking to our good friend Mike Letz, uh the CEO and founder of Investusa.com. This is a nonprofit organization that helps the police, folks. Investusa uh.org. I said.com. It's.org. Uh I'm John Truman Wolf. This is the John Truman Wolf Financial Hour, and we'll be back right after these messages. Stay with us.

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SPEAKER_02 17:27

All right, folks, we're back, gentlemen Wolfir, uh, with you from the uh Los Padres National Forest, north of uh Los Angeles, on a uh gorgeous spring day here. Um I want to talk a little bit about XRP. Uh those of you that have listened to the show over the years and or subscribe to my uh newsletter, uh Strategic Financial Intelligence.com, um uh know that we followed uh uh Ripple, the company that uh uh produces the token, the crypto, uh called XRP. In the early days of the broadcast, um uh the the Biden administration's head of the SEC, you've heard this uh from me in a number of times, Gary Gensler uh sued XRP, claiming it was a um a security um the you know the Biden's out, Trump's in, uh Trump appoints a crypto-friendly uh head of the SEC. Um and uh XRP uh which is a great, in my opinion, a great product. I mean, some of the products um uh that are represented by uh crypto tokens are are garbage. You gotta have some and some of them are very good. You gotta have somebody that knows how to look at that kind of uh information and give you a rational uh assessment. Um uh as I've said before, uh listeners uh probably know I'm a former senior credit officer for a couple of banks in California. Um and have, you know, it's been it's been a while, but I have some uh some understanding of that world. And um uh uh XRP is a um facility uh that allows banks to uh send money internationally uh faster and cheaper than the existing uh system uh where international uh the money transfers are made. That's that system is called SWIFT. I don't know who named it, but but it's may uh maybe a little bit unnamed. Uh here's um here's a quick little article on this subject. Data from I'm reading from an article, data from Japan could reframe the entire SWIFT replacement debate. Japanese banks have confirmed XRP powered remittances settle in under four seconds at sixty percent of SWIFT's cost. That's what I was talking about. I mean that the the transfers uh with the XRP are virtually immediate and less expensive than the existing system. Uh eliminating the intermediary fees across um across real cross-border corridor uh corridors between between uh Japan and Southeast Asia. This is bullish for XRP price prediction prediction. Well, um in my opinion, you don't have to be a rocket scientist to see that. Um I didn't look today, I could have looked before the show and didn't, but um uh last time I looked yesterday, uh uh XRP was trading under two bucks. So, you know, if you want to put your toe into um the crypto world with a you know in my opinion, a very small amount of risk, uh grab some XRP. Um there was talk, uh has been talk in in months gone by of um XRP replacing the entire SWIFT system. Um as you can see, Japan uh not a small player in the global financial scene. uh is now uh blessing it. Um and I think this is uh you want a recommendation from the show uh that that's a good one uh in my opinion. Um it's uh I think if I'm not mistaken um uh XRP's you know trading around a buck and a half no no no no trading around to two and a half I think um but it's under three bucks so it's a good buy uh I I recommend it you can go up to um uh Coinbase or what you know whatever um um crypto exchange you're using and grab some i highly recommend it and I think down the road uh you'll be thanking me uh and you'll have some handsome capital gains all right we're gonna take a short break I'm John Truman Wolf and this is the John Truman Wolf uh Financial Hour.

SPEAKER_03 23:04

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SPEAKER_02 27:19

Call 1-800-785618 now all right folks and we are back and I am John Truman Wolf and this is the John Truman Wolf Financial Hour uh talking uh before the break about XRP um and let me let me follow up on that a little bit I mean here's a here's an opportunity there are uh let me let me back up the many of you uh have the story about Satoshi Nakamoto um uh some of you don't in other words uh if you don't know uh nobody knows who this guy that uh invented bitcoin is uh maybe there are some people that know but it's not uh it's not public knowledge so uh he uh you know developed Bitcoin the first bitcoins that came out uh there's a famous story of um a guy using a bitcoin to buy to buy a pizza so uh you know 10 bucks something like that all right and we're now at uh today at uh 77 000 um and uh it gives you uh it gives you an idea of how much it's grown but um uh Nakamoto made uh Bitcoin which remains the uh granddaddy of cryptos and has uh over half the uh capital crypto capitalization but there are thousands of other cryptos I mean thousands uh number varies depending on who you to you read uh it's anywhere from uh 5,000 to 7,000 are the two numbers that uh I find uh uh most reliable um and uh I read a report uh a while back that did an analysis of the thousands of other cryptos um and their assessment it's just one assessment could be right could be wrong but uh it uh appeared uh uh legit to me was that about a third of the cryptos which would mean mean you know I don't know somewhere in the neighborhood of 1500 2000 cryptos uh actually had value it represented something that was um useful and valuable um and um ripple or xrp is an example of that uh the top uh cryptos uh you know bitcoin ethereum um uh tron um the various other ones up there the ones that are near the top of the chart on capitalization uh usually have some valuable service that they perform or you can get them to perform and um uh you know I know I'm beating this to death a little bit but uh if you're one of those who kind of sits on the fence uh relative to uh the crypto um the crypto world uh this is an opportunity for you to stick your toe in you don't have to invest a bunch I mean given where um uh XRP is trading currently yeah you know I mean you could get a bunch of it for you know a few hundred bucks or a few thousand bucks or you could get a bunch of it for um uh a lot more than that for more money needless to say um my but my point is if you're if you're sitting on the crypto sidelines and I talked to somebody I did a radio show um as a guest um when was it what day is I don't know a few nights ago and um the host of the show who's a very very sharp guy very sharp guy and and um it's at one point the conversation rolled into crypto and this person was you know nah you know I don't I don't trust Bitcoin um and that was his point of view um and I you know I I kind of came back with him politely on the show and you know you're that's that's not uh that's not uh a a successful point of view uh crypto's here to say folks I mean you can tell that by uh governments that are adopting it state governments are adopting it uh uh national governments are adopting it as part of their treasure the U.S. government various states in the country uh various countries um uh around the world uh most notably I don't know most notably but kind of famously is this uh El Salvador um or San Salvador I get those confused one of them is the name of the country the other's the name of the capital uh El Salvador I think is the name of the capital and this um the main the name of the country San Salvador but the president of that country uh was buying Bitcoin back uh uh you know uh years ago at least a couple of years ago uh and his treasury has uh uh profited handsomely um and there is uh legislation in Congress in the U.S. Congress uh to have a Bitcoin reserve and to put it aside and just let it grow to the point that as uh the the legislation projects uh Bitcoin's going to continue to grow and I think it is uh at some point we just take it and start paying the debt down um I I I you know we've talked about it before the the the the national debt uh currently in the neighborhood at 40 trillion dollars with that's with a T, ladies and gentlemen $40 trillion dollars which is an insane amount of money you can't even get your head around that amount of money but uh if the U.S. government bought a bunch of Bitcoin and just uh specifically uh labeled it for uh use in paying down the debt and stuck it away somewhere where neither Republicans or Democrats could get after it regardless of what uh bridge they wanted to build or or uh you know what uh anthill they wanted to feed uh that it was uh untouchable uh other than other than its use in paying down the debt um Cynthia the the the Gal senator from uh I think from is it Colorado no Wyoming I think Cynthia Loomis I think is her name introduced the bill uh unfortunately she's not going to run again which I think is a travesty but um and it hasn't passed yet but I think it's a hell of a good idea we can use that uh to pay down the debt and uh different uh countries and states are doing uh just that to uh become more affluent all right uh I'm John Truman Wolf this is the John Truman Wolf Financial Hover we'll be back right after this progressive knows that boat days can come with unexpected problems.

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SPEAKER_02 36:11

Safe Step Walk-in tubs and showers are proudly made in Tennessee and offer an ultra low step in avoiding that difficult climb over a traditional bathtub wall they also offer a variety of therapeutic benefits that may help soothe your aching muscles and joints increasing your mobility boosting your energy and improving your sleep safe step walk-in tubs are designed to easily fit your existing tub space and are often installed in as little as one day just dial 1-800-561-6320 today to save $1600 and receive a free shower package that's 1-800-561-6320 for a free no obligation consultation and to save $1600 safe step walk in tubs safety never felt so good it's time to rediscover Kaana Poly Resort on Maui goodbye stress and work hello paradise and fun restaurants hotels golf spas hiking shopping activities of all kinds or just lounging on the beach and listening to the waves visit kaanipoli resort dot com K-A-A-N-A-P-A-L-I Resort dot com Kahnapoli Resort on the west side of Maui we're back I'm John Truman Wolf this is the John Truman Wolf Financial Hour thanks so much for joining us uh let me pick up I was talking I've been talking about um XRP which is a crypto uh produced by a company named Ripple uh a new a name that uh had a great deal of acceptance uh back when I was in college which is a long time ago uh it was the name of a cheap uh a cheap wine which uh those of us of the fraternity world used to mix with beer and um that's ripple yeah I know I know Mike it was like not uh um well when I when I left uh I do my first year of uh college at uh Oregon State uh very conservative it's in Corvallis Oregon the last uh uh uh uh uh chapter of the WCTU the Women's Christian Temperance Union uh Corvallis Oregon is a very conservative uh uh city and uh I uh had gone to to high school in the San Francisco Bay Area and was part of a uh I'd call it a club some people might call it a gang I don't know we weren't we weren't very ethical frankly uh but um uh after a year at uh uh Oregon State I came back home uh I had to buy a car so I uh went to work for PG ⁇ E digging ditches uh and I can still I can still wield a pretty mean shovel uh you know you have to dig ditches for for gas lines um anyway so when I was ready to go back to college I happened to look at Playboy magazine uh uh which uh was common practice in those days for uh kids that age and the number two uh party school in the nation was San Jose State so that's where I went and um uh enjoyed um uh several years uh there I did uh stayed and did a master's degree and I actually even taught there uh at one point um uh it was a funny situation because I had um I I was doing graduate work I was getting a master's degree in American history and and uh the the my um uh oversight um professor got very very ill and uh head of the history department there uh asked me if I would take over his classes which was kind of an honor uh these were upper division classes so I've got in my classroom I'm like maybe tw I don't know twenty one I think and in my in my in my classes are you know my fraternity brother jumping in for John Truman Wolf looks like we lost his connection should be noted he lives in a very rural area so sometimes you see this happen with connections in rural areas.

SPEAKER_04 41:20

It's the genius of technology also I wouldn't be surprised if he's affected by some of the fallout from the smoke with these fires out here. I know we've been having a lot of issues with our satellite system because of that so um r Bruce was talking about his experiences in college uh various beverages he uh sampled notably ripple and uh I want to go back to something he was talking about about uh the founder of Bitcoin because there's been some recent reporting about perhaps maybe we we did find out the identity of the founder of Bitcoin and there's been some some pretty decent deep scholarship on that who Satoshi Nakamami was. Of course it's uh no one's definitively been proven but uh however there has been a recent article saying that that Mr. Satoshi Nakamoto not Japanese at all perhaps an Englishman and there's been some very interesting scholarship about that regarding where he came from and uh they some linguists uh this is you can find this in Forbes magazine folks and uh some some linguists actually went through some of the white papers that he wrote about Bitcoin and uh noticed some language I'm not gonna name the person they suspect here because if whoever founded Bitcoin wants to keep their identity private, that's their business. And I'm not gonna interfere with that. However, some linguists came forward and said that they found a particular paper and a match some some phraseology and some uh forensic language that uh an individual an Englishman uh used along with Satoshi and they found they used the same idioms and the same syntax in some of their different academic work. And so perhaps maybe uh the the case has been cracked here. But uh you know similar to the artists like Banksy, these guys want to stay anonymous and I think specifically for Satoshi it's extremely important that he stays anonymous because I'm sure a lot of governments want to know governments or bad actors for that for that matter would want to know what's behind the curtain there when it comes to Bitcoin perhaps his his thinking about that technology because that technology is is highly advanced and also helps people stay anonymous online which is one of the the great challenges of the 21st century and beyond is anonymity on the internet. All right we're going to try to get John Tremoliff's um connection back restored. Stick around you guys we're back back to the

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SPEAKER_05 45:50

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SPEAKER_00 46:39

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SPEAKER_14 46:53

Hi, I'm Dennis Bono. Join me every Saturday at 6 p.m. and Sunday at 3 p.m. for the Dennis Bono Show live from the entertainment capital of the world, Las Vegas. Enjoy this fun-filled hour with my celebrity friends as they perform, visit, and have lots of fun with me in front of a live audience in the showroom at the South Point Hotel. Please join me Saturday, 6 p.m. Pacific, Sunday, 3 p.m. Pacific, right here on CRN Radio and CRN Talk.com.

SPEAKER_02 47:26

And we are back for the final segment here of the John Truman Wolf Financial Hour. And I've been talking about focused on a particular crypto, because I think when uh certainly when this uh war settles, and as I was talking with uh our guest, our friend Michael Letz earlier in the show, uh uh Putin has talked about uh uh ending the war in the Ukraine in the Ukraine, which I think would be a huge uh a huge win. But uh as these global uh conflicts settle out and uh you know, God willing in the creek don't rise, they will, um uh there will be um uh uh expansion in the investment market. Certainly uh crypto will go up. Um uh the stock market will continue up, but stock market again uh trading well over 50,000. Um and uh in that regard, uh I'm recommending, I'm taking quite a bit of time to recommend um uh XRP, which is a which is a crypto that's uh uh selling, I think, for about two dollars in change. It's less than three bucks, whatever the number is. Um and uh it has the uh potential, folks, um, to replace the the international money wiring system that uh exists and has existed around the planet for uh decades and decades. It's called the SWIFT system. Uh and I read you an article uh just a little bit earlier that uh XRP is not only faster but cheaper than SWIF. Um and an article that the Japan banks have now moved to uh XRP. So um I think this is a good buy. Um I s uh said earlier, started to say earlier, and then I think got distracted with my uh my uh oh ripple, we're talking about Ripple College. Um that uh this is, you know, if you're listening to the show or reading the newsletter or both, uh one of the things that I presume you're looking for is some um, you know, some recommendations that have some research behind them. Uh you know that I'm a big precious metals fan. Uh I think the precious metals bull run are uh uh they've paused, uh, but they will continue up. Uh stock market will continue up, and and I think crypto will as well. And this particular crypto has the opportunity, um, and there has been talk about it. I don't know whether it'll happen or not, but talk about replacing the entire Swift system with XRP. Whoa! What what do you think your two dollar stock would be worth then? Um uh the guy who developed it uh obviously is a uh sharp dude uh and found a problem in international bank wiring uh and uh uh developed a uh a crypto that handles it. Um I think it is definitely possible. Um I hate going 50-50 because that's kind of a maybe, but uh at least if it uh this uh crypto has at least a 50% chance uh of replacing Swift. Now, whether or not the new chairman of the Fed will you know jump on that or not, I don't know. Uh but uh I'm recommending it, and um uh I hope it uh I hope it does you well. I'm John Truman Wolf, and this is the John Truman Wolf Financial Hour, which we do every uh every weekday at this time. Same time, same station. Um uh let's hope the wars uh come to an end this week, and uh we'll see you here, same time, same station next week. I'm John Truman Wolf. Be well, I'm gonna do that.

SPEAKER_03 52:17

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