SPEAKER_03 0:02

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

SPEAKER_18 0:16

Hi folks, John Truman Wolf here is John Truman Wolf Financial Hour. Thanks so very much for joining us on this uh gorgeous day, beautiful day as we broadcast live from the Los Padres National Forest. The skies are blue, the forest is happy. It's a nice day up here, not too hot, not too cold. Um and I hope it's nice where you are. Okay, we'll touch base on the investment sectors uh as we do at the beginning of every show. Um the the huge news, of course, is the boom in uh the Dow Jones uh which went up about 900 points today. Um and I searched uh somewhat diligently, uh not I didn't get a the a quote why end quote, but uh there just seemed to be good news across various sectors of the industry of various industries, uh tech, healthcare, etc. Um so big move in the Dow. Uh for those of you that listen to to me or read my newsletter, you know I've been uh predicting an uh the continuing uh uptrend in the Dow. And I um I continue to say so. I mean the it's trading what at 52 uh thousand in change, I think, uh today. Um I don't know where the top is. Trust me, trust me, I uh I d uh what what I can tell from looking at the graphs are uh it's got more to go. Uh the graphs don't say, oh, it's gonna go up to this point. Uh but um the the that's if you wanna, you know, if you want to invest in an ETF of the Dow Jones, you can do so and just invest in the Dow Jones, or if you have some you know, particular stocks, uh you know, there's some there's some precious metal stocks that are doing very well uh these days. Um okay. Um on to uh speaking of precious metals, they're just kind of lackluster. Uh I mean it have been for some time. I think this is a planned strategy by those that are holding uh large amounts. Um gold uh uh continuing to just uh hang out below 4,500 an ounce. It's like um uh, you know, it's got a cold or it's sick or something. It just it just kind of sits there. It was up or down three points today. I don't remember which, it just hardly moved. Uh silver, uh essentially the same. Silver trading around 75 bucks an ounce, maybe a few a little bit less. Uh but of course that's a huge move from where it was uh back when I started recommending it at $14 an ounce. So if you folks uh I don't mean to spend the day patting myself on the back, but if you uh listen to me calling uh silver market um back at $14 an ounce, which is not that long ago, um it was $14. It's now uh about seven, close to $75, $74, $73, right in there. Um the and the poor uh performance by uh cryptos, uh Bitcoin down to $63,000. That's way down. Um all right, I'm John Drumm Wolf. This is the John Truman Wolf Financial Hour. We're gonna come right back and uh uh talk about some of these uh matters when we come back. Stay with us.

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SPEAKER_18 5:32

All right, folks, we are back with you. Uh and uh joining us as he does uh very, very often is the CEO of Investusa.org, that great nonprofit that uh buys uh put bulletproof vests for men and women in blue, uh Michael Letz. Um Michael, I want to start off uh our conversation uh with something I can't figure out, and I don't know if you know the answer to it or not. Yesterday, as you uh know, I'm sure, uh the House uh uh voted to constrain the president's uh use of the military without congressional approval. Does that need Senate approval, Michael? Do you know?

SPEAKER_14 6:18

Yes, it does. Well, here's the process. Of course, the Democrats have been doing this for some time. We've now got some uh rhinos uh that have joined them to pass it in the House. Still has to pass the Senate. It's failed in the Senate a number of times. Don't think the votes are there, but they could be. But here's the issue. Even if it passes the Senate, the president will veto it, I feel comfortable with, and there certainly are not enough votes to override a veto.

SPEAKER_18 6:46

Oh, oh, I see. So it has to go through the whole process. House, Senate, and and so I he's got to sign it into law. Well, he's not about to do that. I see. That cla that uh that clarifies that I was a little concerned. I mean, that the the the the Moolas in in Iran must be uh you know uh having a big field day when the when the House uh votes to constrain his use.

SPEAKER_14 7:14

Um I can't I I mean You're exactly right. You're exactly right. But let me let's let's let's divulge what's really going on so that our listeners totally understand. Yes, we're fighting Iran, but even greater than that, we're fighting within ourselves, later on government. Now, what do we mean by that? You go back, we had eight years of Obama, and of course, if you realize who was his Secretary of State, Hillary Clinton. You do recall that she had sold 25% of the Iranian, the enriched uranium, uh unauthorized, by the way, sold out to Russia. And you know, nobody knows what happened to it afterward to Russia. That's what they're telling you. We do know what happened to it. Uh, you know the uranium that's buried now in the bunkers that we bombed in Iran? If we get our hands on that, because uranium is just like human DNA, it has its own workings. So we can trace and tell you exactly where it came from. Uh we are extremely comfortable that we will be able to tell you that is our uranium, and that is preaching, that's aiding and abetting uh uh to the standing enemy, and that doesn't even require military target. You are in deep, deep trouble that happens. So they are desperately trying to have Obama, who is uh part of the Muslim Brotherhood, strong connections with Iran, as does Hillary, who are saying, you know, uh, hey, go ahead and tell them Friday to five o'clock today. 4 59. No, don't do it. Put them off another another week or two. They are desperately trying to weigh this thing out, and they're telling Iran, don't worry, we'll work working behind the scenes. We're gonna get some votes passed in Congress, we're gonna get this thing uh turned around. You won't have to get rid of that uranium, you'll be able to have your nuclear program after all. That's what we're fighting each other.

SPEAKER_18 9:15

All right, I see, I see. Well, it's a lot of back uh a lot of backstory there, some of which I didn't know for sure. Um uh I I don't know where uh the you know the de I mean I shake my head at the Democrats every day, I think, but when when they vote to uh restrain the president's uh uh uh authority, ability uh to conduct uh uh a war uh and ensure these people don't get a nuclear weapon. I don't know what's the matter with these folks.

SPEAKER_14 9:50

Well, it's a matter of power for them. They want control and they want to control this administration, they want to make it look bad so they can regain that power. That's what they're attempting to do by uh curb or tie his hands. They're not gonna do it. The president, as you are well aware, we know our strategy is working. What is that strategy? People ask me that all the time. I come with I keep getting back and forth. What's really going on? Bottom line is this the president has said, I'm always happy to negotiate. Anytime you want to uh come to the table, we are available. There are certain red lines that have been drawn that we will not uh cross. You will not have a nuclear weapon, you will not be able to produce on terrorism, and you will not control an international waterway that deals with so much commerce uh for the entire globe. Those are the three things. Now, what we have done differently here recently than what we've done in the past is because of the fact that not only uh is it working with our blockade, trying their economy, making their economy go south, they're feeling it so badly now that you'll notice they're launching military strikes, drone strikes against other countries, against ships that are going through. They're still playing hardball. So the president has said, okay, here's what we're gonna do. Instead of launching offensive, we won't use the word offensive uh logistics anymore, they are defensive logistics now. And we are every day, you're not seeing it reporters in the mainstream media, well, we're blowing up things, John, and hitting targets where they're fixing to collapse. So this strategy will work. It has no choice. It will either collapse economically here shortly, although collapse militarily. And why are we having to do this? Because you remember there was a void in the administration, and the Revolutionary Guard has tried to step in and fill that void instead of allowing the people to do so. And we're just going to have to go ahead and finish it off.

SPEAKER_18 11:49

All right. Well, um, I look I look forward to it. I look forward to peace in that region. Um it could actually happen. Um they get the Hezbollah back to bed and um get some kind of agreement out of Iran. Uh that uh area, which is, as you well know, just rich with oil um and can be beneficial to the planet, Michael, I think.

SPEAKER_14 12:17

Oh, there's no question, you're exactly right. And we will prevail, John. It's just a matter of, you know, it's taking a little longer. We're having to work a little harder. One of the things that I have mentioned on the deal is I believe the American people have the patience, but they're not exhibiting the patience right now because we have not held people accountable on other matters. And until people start seeing that accountability is there, that people will pay for their actions, they're not interested in you explaining your actions.

SPEAKER_18 12:47

Yeah. Yeah. Well, we'll we'll we'll see how things go with this new uh uh uh DNI. I mean, I he doesn't appear to have any uh intelligence background at all. He's just a good he's he's very close to Trump. Uh but uh I think the law requires him to have to have some intelligence background.

SPEAKER_14 13:12

Uh we're putting good people around him, but I know I know Bill. And I will tell you this here's there's only one reason why he's sitting there right now. Bill has taken the position. The president says I need this in 24 hours. We'll try to get it to him in 12. The president very clearly stated this is what I want. I want I'm tired of people telling me they can do things and they don't deliver. So I don't hear whether you have the uh knowledge or expertise anymore. You deliver, you got the job. We'll see.

SPEAKER_18 13:44

Well, we'll see, we'll see how he does. Uh, folks, we've been talking to our friend Mike Letz, the chairman of investusa.org, a nonprofit that helps police. Give them a hand. I'm John Truman Wolf. This is the John Truman Wolf Financial Hour. We'll be back right after these uh messages and uh uh talk some more about what's going on financially and politically. Stay with us.

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SPEAKER_18 17:34

All right, folks, we're back. I'm John Truman Wolf. This is the John Truman Wolf Financial Hour. Thanks for being with us. Uh talking to Michael Letts uh in the previous segment about uh uh what's going on, uh this uh war now dragging into month four. Um we'll see what you know we'll see what happens. I mean, um uh I think Trump's uh uh his you know his feet have been down since the beginning, uh no nuclear weapon. Um you can tell um uh their position in the in the region as they're bombing their neighbors. Uh they're not just uh having a hard time with us, they're bot they're bombing several of their neighbors. Um and the neighbors there in the uh in the area are like uh you know pulling for us to wrap this thing up. Um uh it'll happen. I think it'll definitely happen. Uh the squeezing the Straits of Hormuz and their economy and other uh economic areas with sanctions, uh I think that country's having a very, very rough time. Uh hard to say because as if I understand correctly, there's no internet there now um that uh news organizations can use to um uh get news. Um so we'll see what happens. I mean, the sooner the the better as far as it uh uh wrapping up. Meanwhile, the um you know the war the Russian Ukrainian war has dropped off the front page. Um uh except I think yesterday there was a Russian uh some Russian missile attacked a hospital, but also a Ukrainian missile that bombed a I think it was an oil depot in St. Petersburg, if if memory seems uh seems right. You know war goes nowhere, folks. It goes nowhere. It goes where it goes is to dead human beings and uh uh countries deeply in debt. Um wars cost lots of money. I think uh uh the uh reports that I've read on this uh uh war with uh Iran has cost a hundred billion dollars. I don't know if that's correct or not, but it would not uh it would not surprise me at all. Uh we're living in an historic time. Um I mean the United States is uh despite its flaws, um and I'm not uh I'm not one of these people who thinks that uh America is flawless. I do think we're the best country on the planet. I don't think there's any question of that, but uh uh do we have our our problems? We do. Um uh but uh we're sitting here, let's say 2026. Uh this is a fascinating time. We're we're the number one um uh country on planet Earth, and um uh we will continue to be so. I don't know what's gonna happen when Trump leaves. We we got another few years of him, and then likely likely, this is just my guess, uh, you know, three years out. Uh I I think I think we'll be looking at at uh J.D. Vance and and Rubio. Uh Rubio said he won't run against him, although I gotta tell you, I've been very, very impressed with Marco Rubio. Um uh I mean he was uh certainly noticeable as a as a senator, but he has been a great Secretary of State um carrying the country's message and uh negotiating with other countries and doing uh personally, I think, a h a hell of a job. Um relative to um uh our subject of the show, which is uh investments and so forth, um I noted j uh just at kind of the end of my first section. That um the Bitcoin uh has taken a major um move down, uh trading today at 63,000. Now, this is, you know, for those of you that follow uh crypto or follow Bitcoin, you don't have to go back too many months, a few months, uh to find it at its highest ever, uh, which was uh uh twice where it is now. I mean, uh Bitcoin was at uh what 125, 126, I think, 126,000 an ounce, uh, and here we are at 63,000 an ounce. I just happened to buy some. I think it's a buying opportunity. I've last night I bought what day is this? Uh no, uh two n two nights ago I bought some. So we'll see, we'll see how that goes. I'm gonna take a short break and come back, folks. I'm John Truman Wolf, and this is the John Truman Wolf Financial Hour uh talking uh Bitcoin politics, and we'll be right back. Stay with us 88.

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SPEAKER_18 27:34

Folks, we are back. I'm John Truman Wolf. This is the John Truman Wolfe Financial Hour. We appreciate your joining us on the CRN Radio Network. We were talking a little bit about politics before the break. And I think as Mike Letz, our our guest, our frequent guest, was saying, this thing will wrap up, and I think it'll wrap up reasonably soon. Handling the war in Iran, I think will be a big deal. Open up the Straits of Formuz. It'll be good for the global economy. As to the um uh you know, the other war, I saw that uh Zelensky today um offered to sit down just because we because the U.S. has got its attention on uh Iran. Zolinsky saying to Putin, let's just sit down, you and I, one-on-one, and and let's work it out. I think it's a gutsy um proposal on his part. Uh this guy's got a you know of the uh background that has some holes in it, I suppose we all do, but you know, he has been promoted uh off and on over the the last year or two uh as this kind of you know gutsy guy, the savior of his of his uh country standing up against uh uh a much bigger enemy. And in fact, he's done that. That said, he has taken in, I don't know how much money from the U.S. and other NATO allies. Uh I mean, there's been a staggering amount of money, and I know uh a few months back, um, you know, somebody asked the important question that I never saw got got answered is like, where did the money go? Um and there's a strong implication that it's in uh the pockets of some of the uh oligarchs there. Uh we did have um uh biological mining companies there. Um I get conflicting data whether or not they're shut down. Um uh and I think our our you know our stance has been motivated by the fact that we don't want Russia grabbing more to more territory. Vladimir now in his 70s. Um uh I guess he'll be the the you know president slash dictator there to you know till he dies. Uh the country had such promise uh when the Soviet Union broke up, uh as I think I'd mentioned on the show before, I'm sure I've mentioned on the show before. Um I was there a number of times in the early 90s, uh when right after the Soviet Union broke up, um and um you know Bora whenever I think of Boris uh Yeltsin, I laugh. I don't know why. I mean the the guy liked uh a glass of no no not a glass, a bottle of vodka. Uh but he but he was pretty hands-off. Um and um uh you know I can recall sitting in um the Bolsho Bolshoi Hotel. Is it the Bolshoi Hotel? Uh no. It's another famous hotel right off of um Red Square, the name of which escapes me right this minute. Um but they have this huge uh uh dining area, uh and the and their the roof is uh colored glass or um beautiful glass ceiling. And there were, this is in the early 90s, there were people there, uh you know, their pinstriped guys with their briefcases from every country on the planet. It's a little bit of an exaggeration, but from from from from everywhere. Uh China, South Korea, Europe. Um of course, Americans. I mean, deals were getting made all the time.

SPEAKER_03 33:03

Seems like we have lost a connection again. And uh let's see how we're doing on the on the markets today. Uh Admister John Truman Wolfe did mention that today was an historic day for the Dow Jones, uh 900 points, which is uh quite substantial. And because there's been some reporting that perhaps the issues with the uh the gas prices, the oil prices, might be coming to perhaps an end with a deal maybe negotiated, but perhaps also uh it seems that uh the the true uh I guess cost you would say of uh the uh increase of oil prices really hasn't hit the market yet. And so there's been a lot of kerfuffle about that. So we shall see moving forward. Uh once again, also Bitcoin all-time low. So uh if you're an buy the dip, folks, buy the dip, because it seems that uh Bitcoin you know down uh nearly half a percent today, uh 63,000. But just remember, just low and behold, a couple months ago, uh it was uh over a hundred thousand dollars. And so perhaps that might be the now is the time. But overall, the market's doing pretty pretty well. S P up today, uh half a percent. The Dow up uh, as I mentioned, uh 874 points. It's 1.75 percent. NASDAQ took a little bit of a dip, just nine-tenths of a percent. Russell 2000 up as well, 1.54 percent. And I'm here, Mike. All right, and we're just uh we have John Truman Wolfe just doing a brief recap of the markets and take it away, Mr. Wolf.

SPEAKER_18 34:31

Uh uh Okay, sorry, uh folks, a little uh technical glitch there. Um uh we're gonna uh we'll do we'll I think I'll come back. I'll take a short uh and in time to take a short break, and then uh and then we'll be back and and and talk, uh uh finish the show uh looking at these markets and what we can expect moving forward uh in uh crypto, in precious metals, in equities. I'm John Truman Wolfe, and we'll be right back after this.

SPEAKER_02 35:28

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SPEAKER_18 37:31

Okay, folks, we're back. Uh John Truman Wolfe here with the John Truman Wolf Financial Hour. Uh let's put our feet on the on the investment uh highway here a little bit. Um there are there is uh news that the perhaps Ethereum uh will bypass or exceed uh uh Bitcoin. That this I don't mean in price, uh, but in terms of growth. Um Bitcoin down uh uh as I mentioned earlier in the low in the low 60s, which is half of what it was at its highest ever of about a hundred and a quarter. Um uh Ethereum around a couple of grand, but it has it's been growing and growing fast. Uh these two cryptos make up the about 70 percent of the entire uh market cap for the cryptocurrency universe. Um uh Bitcoin comes in usually around you know, close to 60 percent, usually around 58-59% of the entire crypto universe, uh, which uh runs in the I think uh the high two trillions. Um and then uh Ethereum uh comes in at about 15%. Those are round numbers. Um but uh according to recent reports, uh Ethereum is uh smoking uh Bitcoin. Uh there's an article. Ethereum is staging a quiet comeback, even as the price is falling. Ethereum is dropping under 1900, well off its late 2024 highs, while Bitcoin continues to show cycle-wide underperf uh underperformance that standard charter says is now working directly in Ethereum's favor. Uh the article goes on, but that's the point. Um and I considered it a buying opportunity. I can for Bitcoin, I consider it a buying opportunity, and I bought some. Uh we'll see how you know it's off the last day or so. Uh, but but I don't look at investments that way. I don't suggest you do either. I look at uh uh most investments long term. If you're a day trader, you're a day trader. There are people that make uh that do that uh for a living. Uh some of them make a lot of money uh and just day trade uh every, you know, they just watch uh prices uh on a on a right now basis and buy and sell. Um I was into that world many years ago in uh when would this have been? This would have been 19 uh 80s, late 80s, I think. Um and I I I I did well at it, uh, but it I'm telling you, it consumes your every waking minute while the markets are open. Uh and even when they're not open, it's like, okay, good, what's gonna happen when they when they do open? Um uh I followed the very strict rules. Uh those rules treated me well. Um uh I made some good money in a reasonably short period of time. And then and then I and then I quit following my own rules, and uh uh and then I got dumped on. This isn't the commodities market. If you're gonna play the commodities market, uh understand it well, understand it well, uh, or trade with somebody that knows what they're doing. It's a it's you know, this is a very sophisticated pool of sharks. You know, talk about Shark Tank. Um there is, I think I've recommended it on the air before, but I'll I'll take the opportunity to do it again. There's a great book called How to Make the Stock Market Make Money for You, kind of a hokey title. Uh the author's a guy named Ted Warren. Uh the book is out of print, meaning it's not uh Warren has passed into the great uh financial advisors uh uh uh in the sky. Um but the but the book is still printed. Um uh used copies are available on Amazon. Um I highly, highly, highly recommend the book. Uh How to Make the Stock Market Make Money for You. Author is uh is Ted Warren. Um he had the book primarily covers trading stocks. Um and uh but he has uh the last large chapter is on commodities. So uh it's very good hatting. Um and you can it's very technically oriented. So Warren um uh makes buying and selling recommendations based on the price of the stock as reflected in graphs. Um uh and I had a at the time I had a book that had oh, I don't know, hundreds and hundreds and hundreds and hundreds of stock graphs. Um and uh this was a tool that uh that I used to trade, and it was very very successful until I quit doing it uh until I quit following my own advice. Um but all of all of that said, I'm uh I'm hereby recommending Ethereum uh and Bitcoin, because Bitcoin is down and Bitcoin. When we back um and some line. So we're gonna take a short break and come back with our fun segment after this. I'm gonna trim them off. Stay with us.

SPEAKER_12 44:27

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All right, folks, we're back for the final segment here. Just talking to our great producer, Mike, and um uh talking a little bit about uh tangentially talking a little bit about Cuba. I think maybe next week we'll do a show. I don't know what's gonna happen there. I mean, uh uh Trump and his uh arrogance, frankly, has said, well, you know, I can take over Cuba anytime. Well, what does that mean? Um, you've got a couple of very powerful guys in government uh that have history there. Uh Rubio and and uh Senator Ted Cruz, both uh, you know, kind of escapee families from from there. Um we we just indicted uh Raul Castro. Um I don't know what that means. Are they gonna go you know swoop into Havana and pick him up? Um uh the Castros are no longer in I was gonna say they're no longer in power, but I recently saw a an interview by Castro's grandson. Uh you know, a young man who is uh getting both both feet in the water. Uh I think it would be great if uh the you know the the government there could return to something along the democratic framework and and um uh free you know you know let free market uh exist and uh transact in in in Havana. Um it has a g you know it has a great past and I've written a bit about it. I I write some fiction books I I think I've probably promoted on on the show before. Um if you go to John TrumanWolf.com on Amazon, you'll see um uh Tom McKenna novels. I've got uh uh Tom McKenna's a private eye with an office in Berkeley, California, and I've got three novels up there, a fourth one's in my computer. Uh and they're uh and I remember uh doing a bunch of research on Cuba because I had some some scenes there, our our hero got uh uh uh drawn down there. Uh and so I did some some research um uh about Cuba. Um I you know, I think with a with a decent government it'd be a nice place to live. Um but uh right since uh New Year's Eve on uh what 1960, I think, is when Castro took oh 50 oh 58 with it. Siguien knows his history. Was it 58? I was thinking I remember uh the the the great godfather movie where uh Pacino kisses um his brother uh and uh in the middle of that ball and then they they leave Cuba in a hurry. I was thinking that was 60, 58. So it's been so uh how many years is that? It's a it's it's a long time. I mean, I think the you know the population there has suffered economically. Uh, I think it would be terrific if we could, you know, if Trump goes in there, he'll pour a bunch of cash in there. Um uh if they could get a government that would operate uh you know sanely, uh they've been able to do that in Venezuela. Uh that what the woman who's the president there has been uh very copacetic and in communication with the Trump administration. And um uh there's a country that is full of minerals, not just oil, lots of minerals in in Venezuela, and and uh I think that relationship will continue to continue to prosper. It's just beginning to grow. Um I think uh if we did something similar in um in Cuba, uh it would be good for the Cuban people. I'm not I'm not advocating that we go in and pull this guy out, although uh maybe we should do so. I don't know, we'll see. All right, I'm John Truman Wolfe. This is a John Truman Wolfe Financial Hour. We're with you every week at this time, same station. Uh stay with us, and uh we'll see you next week, folks.