March 25, 2021 • 39 mins
During this Women Wednesday edition of Liquid Lunch, John talks updates in the Weinstein and Epstein cases, a permanent pandemic, the stock market and bitcoin, and the big investigative political pieces of the day. Today's guests: Xen Sams, Eddie Ghabour, Joe Hagan, and Karyn Turk.
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Episode Transcript
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(00:01):
Her welcome back today. Like everyWednesday, we sell relebrate the woman.
As I've said many times, womenare smart, smart, um, more
organized, women live longer, thehealthier. The women of the majority in
(00:25):
this whole country, or at leastthose that identify as women. We're gonna
talk a little later about this newterm called this gender, which are I
guess women who are women and stillidentify as women or something like that.
But we try to highlight the accomplishmentsand ideas and thoughts of women every Wednesday.
So far women are not canceled,which is a good sign. Today's
(00:47):
National choca covered Raisin Day. Andif you're a raisin, be careful because
the progressors may say that the chocolateis smothering you, so we may lose
chocolate covered raisin. So but speakingof sweet, she's the sweetest around.
She joins me every Wednesdays. ThenSam's as well to stay zen. How
are you? I am good?How are you so zen? There's a
(01:08):
lot going on. I have anumber of topics that I want to cover
here with you, but you usuallyhave your finger on the pulse of what's
happening. What's the most important thingwe need to know? About this week,
Well, we have some good thatcame out of something tragic with comedian
Ken Jungo donated fifty thousand dollars tothe families of the victims who were killed
(01:30):
in the shootings at the three Atlantaarea spas which just happened last week with
a tragedy. He gave five tenthousand dollar donations. They were made by
him kind of anonymously on the gofund me campaign, but everybody knows his
name, so it was confirmed lateron that the donations didn't fact come from
Ken Jung who most people know himfrom the Hangover so you know, his
(01:56):
parents migrated to the US from SouthKorea and also shared some of His parents
also shared some of the fundraising campaignsto his Twitter account, so it became
a whole thing because of his heritage. He also shared a video to his
account calling for an end to youknow, anti Asian racism in the aftermath
of the shooting. So it waskind of a something beautiful that happened that
(02:17):
something negative, and I know youalways like those, Uh that is beautiful.
Um, we'll get to the happyendings later, but this, um,
what what's happening with all the steamsI know for a while there you
will cover in all of the differentsex trafficking cases and Harvey Weinstein, the
(02:38):
Jeoffrey Epstein. Um, what arethe developments on those fronts? Weinstein first,
Yeah, we got the two steamsWeinstein and Epstein. So Harvey Weinstein
accusers basically dropped the sex trafficking lawsuit. You have the three three of these
women, one of them goes bythe name of Lousy, Louis Zette,
Geis, Sarah and Thomas and MelissaThompson all basically voluntarily dismissed their claims against
(03:04):
him. But the question is why. So the move from these three women
who had originally accused him of sexualmisconduct comes basically in the wake of a
settlement plan that was approved back inJanuary by a Delaware judge who was overseeing
the bankruptcy of the Weinstein company.So this is about money because the lead
plaintiffs in an attempted class action againstmany people who were allegedly involved in the
(03:30):
Weinstein company. This is not youknow, this is not just about Harvey
Weinstein. There was a racketeering complaintthat targeted him but also board members of
his former company. So then theWeinstein Company insurers. The insurers worked with
the stakeholders on a settlement and onethat established basically a seventeen million dollar sexual
(03:51):
misconduct claims fund for the victims andimportantly, the stakeholders involved in the in
the bankruptcy included like the New YorkAge She's Office. They originally have lacked
the power to get the women todrop the claims against Harvey. So the
fact that their clients have now droppedthe sex trafficking account against Weinstein isn't surprising
because they were incentivized. So thisis kind of where it's going because there's
(04:15):
a huge money settlement and according tothe dismissal modus, they did reserve the
ability to reinstate the claims within onehundred and twenty days if the sexual misconduct
claims fund is not disbursed. Sothey're protected on both sides. But that's
what's going on on Harvey side.Now on the Epstein side, Yeah,
what's going on in the Stein Now. I have a long been an advocate
of the idea that Jeffrey Epstein didnot kill himself, and the key to
(04:40):
unlock that pin door's box probably restwith Gizlaine Maxwell and now for the third
time, she's asked the judge tolet her out on bail. Yeah,
she's being currently held in a NewYork prison and she's awaiting trial on charges
of conspiracy, perjury, and citingminors to travel to the partic to pay
an illegal sex accent. For therecord, she's pleaded not guilty and her
(05:02):
trial is expected to begin in July. But she's made now her third bid
for bail, and she offered tobasically renounce her French and British citizenships to
eliminate any opportunity for her to seekrefuge in those countries. She offered her
to have her asset that's placed inan account that would be monitored by a
retired federal judge so that she wouldn'tbe at flight risk. But basically,
(05:24):
the prosecutors argued that even setting thoseconditions for her release wouldn't change the fact
that she continues to pose an extremerisk in flight because she does have substantial
international ties and personal connect abroad,tons of financial resources, and tons of
experience evading detection. So, likeyou said, she is the key to
(05:44):
something much deeper and bigger, andshe should be kept locked up until the
last possible minute, because she onceyou released her, she's got, She's
gone. She's like many people don'tknow this, but I've talked about this
before, Joe Biden and brother Owenand I and just a few miles away
from Jeffrey Epstein's island it used tobe a submarine base back to the Army.
(06:05):
And believe it or not, Williemacfell has a submarine pilots license and
a helicopter pilots license, so shecould get in the wind anyway possible.
Wow. But let me ask youthis, Megan Marko has been taken on
the chin lately. Not much happyending there. Pierced Morgan, you know,
walked up the you know, hesaid he thought she was exaggerating things.
(06:28):
What do we find out now aboutthis the most secret wedding, Well,
there was another misstep right for Meganthe duchess. I mean, Megan
messed up because or did she not? I don't know. Prince Harry and
her confessed the other week when theydropped the big bombshell Oprah interview that the
secret wedding did not happen and thatthe couple actually exchanged personal vows a few
(06:50):
days before their official legal wedding,which the official date now is apparently May
nineteenth, so that's three days beforetheir wedding. No one knew that apparently,
so just the two of them kindof did this in the backyard with
the Archbishop of Canterbury and the sourcesconfirmed that the legal wedding date is in
(07:11):
fact May nineteen. So the Churchof England is saying that it requires two
witnesses for any marriage to be validand that ceremonies must take place in a
certified place of worship, neither ofwhich Megan and Harry apparently abided by.
So that's the big bruhaha. Okay. And then finally, Vanessa Bryant got
(07:34):
a new tattoo to honor her daughter. Yes, what a sad story,
but I think she's finding ways ofhealing, and this is probably one way
that she's choosing to heal and continueto keep the memory alive. And it's
basically continuing to honor her late daughter, Gianna, who was killed back in
(07:55):
January twenty twenty with Kobe and thehelicopter crash with tragedy. She Vanessa this
morning, very earlier on social mediashowed off this new risk tattoo with the
word Mamba Sita, and that's anickname given to thirteen year old Gianna and
it was inspired by her dad's blackMamba Moniker. So she posted the video
of her eighteen year old as welldaughter in Natalia, getting a tattoo and
(08:18):
the word news inside on her rightmiddle finger and both of those. We
don't know if it has anything todo with tributes to her sister, but
we know that it was done bytattoo artist Nico Courtando. All right,
let me let me ask you thisbecause you got the inside track on all
Hollywood Group stuff too. We gotabout a minute and a half left.
(08:41):
But Netflix is working with Holly Berryon the directorial debute Bruised, which you
happen to be in I believe right. No, I'm not in Bruce,
but Brad Feinstein, my husband ofRomulus Entertainment, produced, and that is
her directorial debut. Yeah, that'sa that's a huge headliner. So Hallie
(09:01):
joins Mark Wahlberg in Our Man fromJersey and this is a Netflix production and
it's going to be basically an actionthriller. It's a blue collar James Bond
in a nutshell. So it's describedas something that they've been working on together.
And because she has relationships with Netflixbecause of her directorial debut Bruise,
which was our production company. Thatmovie was acquired at Tiff not long ago.
(09:24):
She's an Oscar winner. You know, she's recently seen in John Wicks
film, the third John Wick andthe next thing she's going to be seen
in is Moonfall. But yes,it is rumored out there that this Netflix
is in production with Halle Berry andMark Wahlberg, our man from Jersey,
So look out for that about aboom. All right, well you want
(09:46):
to kick off the one Wednesday,correctly, you've got to go to the
lead off spot with Zen. Sam'syou know at all We go from crime,
sex, trafficking, investigations, Hollywoodmovies, documentaries, you name it,
she can cover it them. Thankyou. Oh and I see you
going with the puffy sleeves. Still, we're also going to be here.
(10:07):
A little later. She was sayinglast Sleek that the cool new style is
the puffy sleeves, and of courseZen is way ahead of that trend.
Also, no surprise. Thank you, my darling. You're the best.
And I'm sorry if you're not identifyingas a Darling today, but I think
you are Oh no, I alwaysidentifies Darling and shout out to Carla,
you look beautiful in your photos.Yeah, all right, that's Zen Sam's
(10:31):
who starts it off on fire.Would be a fire breathed and dragon,
that's for sure. Um, liquidLunch would not be the same without the
wonderful and talented Zen Sam's. Loveyou guys so many years. Thank you.
I appreciate it. All right,quick break, come on back after
this. It's some old woman Wednesdaythe liquid Lunch just for you, all
(11:11):
right, all right, welcome back. It is a woman Wednesday editional liquid
Lunch on Wednesday and try to highlightthe accomplishments of women in the arts,
politics, business, all kinds ofdifferent things. But when you get the
great guys, you got to getthem in the schedule. And that's happened
for us today. As we getthrough the first hour here or the Wednesday
edition, liquid Lunch dow up nicelyand as that going the other way,
(11:35):
which is weird, they're a littledislocated right here, but that's been happening
a lot over the last couple ofweeks. Big surge and blue chips like
airlines and stuff. And as I'vetold you, United Airlines and certain other
stock bowing stock, they have agreater weight on the dave. So when
they're up big, they kind ofpull over the other components up with them.
(11:56):
But our next guest knows a lotmore about this stuff than me.
Eddie Gabor joins us right now cowour Key Advisory group. Eddie is also
the author of the Coming Sense Bold. His advice is anything but bold.
Do you think, Eddie? Peoplesaid, well, at some point,
we're gonna get back to normalcy,but you kind of think that we're in
(12:20):
a permanent pandemic. Now, Well, look, I think right now,
for the time being, we are. Look, this pandemic has changed the
landscape of many things, especially inthe business world, and that's why you're
seeing the dynamics unfold in the marketand why we think active management is going
(12:41):
to really really be any type ofpassive investment over the next twenty four months.
So some of the changes that havehappened du this pandemic are permanent,
in my opinion, not of them, not all of them are bad,
But for the most part, muchof America will go back to somewhat normalcy
within the next two years is ouropinion. We've got to get through this
year and see how it unfolds goinginto twenty twenty one at the end of
(13:05):
twenty twenty one, into twenty twentytwo. But from a market standpoint,
we think there's a lot of tremendousopportunities in the next six months, especially
in the oil space and the cyclicalstocks. We've been overweight those going into
the year and underweight tech because wethink technology is going to continue to struggle
as we're in a rising interestrate marketenvironment heading into the rest of this year.
(13:28):
Yeah, I'm a little skeptical.I'm reading about how cyclical post war
cyclical stocks tend to be in thenew growth stocks, but if people are
talking about all hospitality and I justfeel like the travel part is not going
to come back as fast as peoplethink, So I'm skeptical of some of
the cyclical so you know what Imean. Yeah, I mean, we
(13:52):
definitely prefer energy companies right now becauseI think the demand for oil is going
to go up over the next fewmonths as we open up the largest economy
in the world. Plus to thatwith the fact that current policies right now
in Washington are hurting the supply.So it's kind of like a Goldilocks scenario
for oil, where policy in DCis causing the supply to good, then
(14:16):
call supply to go down here domesticallyand demand going up. So we think
energy, in our opinion, hasthe most upside out of all the cyclical
stocks over the next six months.But we've already told clients going to the
fourth quarter, we're gonna start tomore than likely become very, very cautious
because this inflation that everyone seems tobe ignoring is here. It's real,
(14:39):
and it's going to become a headwindas we go to the end of this
year. I d to agree withyou. And you know, if you
remember going back, you know whenDonald Trump was president, there was a
chime that we were energy and dependentand we were at a net exporter of
oil, and there was a crazywhen the wild contangle went in with we
(15:01):
had so much oil you can't payyou could they were paying you to take
the oil off their hands. Andimagine the speculators out there who got paid
Clardy flat isles a barrel to takephysical delivery back six months ago. And
now the contrast is Joe Budden shutsdown to Keith going pipeline guess prices rising
dollars going down, mind pricing dollars, So what an all of a charge
(15:24):
that would have been high? Absolutely, And look that's why we felt going
into this year in December, whenwe made that call for clients to start
going overweight energy, we felt like, I say this humbly, that's about
the easiest call we'll get. Itwas like a layup, you know,
if you're going to reduce the supplyand you know the man is going to
come up, you know, andfrankly it's a shame because it's going to
(15:46):
hurt the middle class and be low. Because as those asset prices go up,
so is everything else that you spendmoney on. You know, brussh
you name it. It's that stimuluscheck that they just got. It's going
to go basically to their gas tank. That's that's that's right. And you
know, if you if you're lookingfor, you know, empirical signs of
(16:07):
Joe Biden's policy, look no furtherthan a weakening dollar. Commodities are worldwide
are priced in US dollars, Soif the dollar is weakening, then commodities
prices must rise for people to getthe amount of dollars they actually need.
At this a company of Job CreatorsNetwork. We've had some of their quocus
(16:30):
on the poem. They do greatwork. Took out the big billboard in
Times square Um talking about Joe Bidensaid he was gonna if you made less
than four hundred thousand, you're okay. Now a number two hundred thousand really
attacks on small businesses, and itreally is. And look, you can't
you know, you can't just say, oh, it's only going to affect
this. Look, I'm a businessowner and I've run a business for twenty
(16:52):
some years. If you raise myexpenses, you have to do something to
all set that expense. That's eithercutting an employee or raising the cost of
your service or both. So ultimatelyeveryone is going to pay more, no
matter what sector you just to saythat you're going to attack. So you
(17:14):
can say whatever income bracket you wantto say is going to be affected,
but everyone is going to be impactedwhen you do that. And oil is
the best example you can get.Right. They they wanted to hurt the
big oil companies. They're gonna makemore money than they have in years.
So they're probably his biggest fan,right, now, no question about it.
And you know here in New York, I've been faighting, but small
businesses trying to get up. NewYork reopened, and you know they're proposing
(17:40):
this millionaires attacks now in New Yorkand like the beds want to mark to
malukeet capital games even if they're onpaper. So it's like Joe Biden's policies
are attacking not only the employers butthe employees. And I've sent payroll tax
things are getting like really bad quick. Some of the stuff we're reading on
(18:00):
some of the tax policy is extremelyscary, and there's so many unintended consequences
that the average person probably doesn't understandthat will happen with all of this.
The stepped up costs basis talking aboutchanging that as well too. I mean
that would crush most Americans because thatwould eliminate the one tax benefit they have
on their house. So you doimplement those things, you'll find the fastest
(18:22):
way for this bubble that we're inright now to pop and see a major
collapse. And I don't say thatto scare investors, that's just the reality
behind it. That's why we've toldthe clients based on the rate of acceleration
right now. By fourth quarter,we're gonna start playing some defense, got
it. Well, listen, ifyou got these guys working for you,
you're in the lead. And ifyou know anything about football, if you're
(18:45):
in the lead, run the balland play defense. That's how you win
championships. So stay active, andthank you very much for joining us.
You are great, great insights.You've got to have you back soon.
Thank you. Have a great day. Eddie Board No, not a relative
of Jaja, but it sounds thesame. And you know, we try
to bring you the best guests,and certainly in the first hour all our
(19:08):
friends out there on the Money stationin Portland business talk radio, we try
to bring you as much as wecan on great insights on what to do
with your portfolio and things that youshould think about. And guys like Eddie
Gabore from Key Advisors Group are greatcontributions and I appreciate it. Thank you,
(19:30):
Thank you. All Right, soyou're watching Liquid Lunch and you want
to know more about what's happening inyour portfolio. All Wall Streeted Insight or
Joe Hagen's going to join us rightafter this. We're gonna get an update
on bitcoin, what's going on inthe bitcoin mining world, and if you
should add a little of the alternativeasset class to your portfolio. Joe Hagan
checks in with us again as hedoes every Wednesday, right here on Liquid
(19:53):
Lunch. We'll take a quick breakand get back all right, welcome back.
Yeah, it's a Wednesday on Wednesday. It's one Wednesday Radio. I'll
(20:15):
look for lunch from day one andwe uh. I love to highlight accomplishments,
thoughts and ideas of women in manyways, and thankfully for us are
a number one. My boss isback, calls Dash you make it sure
me and Mikey is staying in line. Um, and we have a whole
array of other amazing women. UM. I just me call host one day
(20:40):
on one Wednesday and take the dayoff. Probably a better Tampa show.
Joe Hagen's gonna join us in justa few minutes talking about bitcoin. You
know what I think about bitcoin,and it continues to wow as we come
through the first hour here noon toone Eastern. Welcome to everyone out on
money station. Good morning to youguys. I show you a bitcoin today
(21:04):
at fifty six thousand, and we'llget Joe Hagen's thoughts on that and where
the risks are and where we thinkit's going. If you're invested in Dave
stocks, you're happy you're in theamountainee up three oh nine has back down
fifty seven. So the market isgetting down to business today, that's for
sure, and we want to getback to business here in this country.
(21:29):
It looks like the vaccine is makingthe markets feel a little better about opening
up. One crazy thing that Ijust heard recently is you can have events
up to one hundred and fifty people, but kids can't have a prompt.
Do you hear about this called noprompts? Schools are having no proms,
(21:52):
And you know, I'm almost thinking, like that's so crazy, because like
this is like, you know,if there was no junior prom in nineteen
eighty two, I may have nevermet Harlm. It was, you know,
my buddy in high school's junior promdate, you know what I mean.
So think about all the lifelong relationshipsthat could be destroyed. And she
(22:17):
wasn't even my date, she wasmy friend's date. But it's just this
is how thing's happened in your youngeryears, and think about all the possibly
great lifetime relationships that will be strickenfrom possibility by the elimination of proms.
Okay, and I'm almost thinking,call I, you know, you know
(22:37):
I like to push the envelope.But I was thinking I would have maybe
a promathon at my house, youknow what I mean, and pick out
some schools and give them like athree hour window, you know what I'm
saying, and let them come tohave a dj old day and say,
this school came from you know,twelve to three. Then the next one
came from three to five, thenext one came from six to eight to
(23:00):
twelve, you know, and justyou know, if I have it outdoors
at my house where I have plentyof room, I feel like I might
be able to make a difference,much like we did with the Salon,
the Salon by the Sea for thoseof you who don't remember and think JT
just started running for office and nowhe's doing things. Um way back way
(23:22):
back in May of last year,I was opening up my house to local
hairstylists and barbers and stuff and weresetting the whole thing up. Call.
I had the whole Manny petty team. We had schedules going, we had
haircuts, we had manicures, wehad pedicures, we had back massages,
we had everything going on, andit was just a way to give people
(23:45):
a chance to get out, gosomewhere and make a few bucks. And
it were I mean, if Iopened the nail salon again today, they'd
probably be a line here because everybodyliked hanging out in my backyard. So
all right, we have Joe Hagan. Now, Joey Higgins, old Wallstree
insider joins us every Wednesday. Um, Joe is an article here on MSN
talking about how bitcoin could surge tothree hundred thousand, but then they could
(24:10):
be a monumental pop, a burstin the bubble. What do you think.
I think that's entirely plausible, Um, although I think, you know,
the cream that rise to the topwon't necessarily will be part of the
entire burst. In other words,like if you look at all of the
wannabes in the dot com world,um, you know dot Pizza, dot
(24:30):
com, shit, dot com whatever, it was everything that comment that went
way higher. Sorry about that,but I mean that's just the way of
negative, negative, vibrational dot coms. A lot of them didn't work out
right, And it was when thatdot com bubble burst that you saw.
It happened. So there's a lotof these players in the crypto world that
I think are at that same um, you know, time and place right
(24:55):
now that they're trading, and they'regoing to trade with that momentum and bitcoin,
and at some point some of themare going to meet their makers,
and the ones that have real storesof value like bitcoin will survive. So
Joe, I know, but youthink it would you think we can get
a run all the way to threehundred thousand. That sounds like a big
number to me from the end,So that would be right, three hundred
(25:22):
thousand divided by fifty thousand is six. That would be six trillion on bitcoin,
which is still below the nine orten trillion the traditional goal is.
And I'm not gonna say I'm sayingit's plausible. I'm yeah, No,
no, no, we don't,we don't. We're not soliciting anyone to
buy any I just you know,I'm gonna going to sixty thousand again,
you know what I mean. SoI feel like it's been in the range
(25:47):
here, but this is the wayit's been trading over the last at least
six months. It pops to anew level. It retraces a little bit,
games a little support down there,and then breaking through the last resistance,
and the pattern goes on and on. Three hundred sounds like you know,
we need we need a lot ofinstitutions to stock coming. Yeah.
Yeah, And I think that coinbased IPO and just a lot more access
(26:10):
on main street. You see moreStanley allowing their wealthy you know, clientele
to start participating. I think thatthat makes a case for me and my
hallucination of about No. One hundredthousand by year end seems you know,
um, two trillion dollars. Youknow that that kind of evaluation on bitcoin
does not seem outrageous. UM threehundred thousand is above my pay grade.
(26:33):
To really drill down, uh WarrenBuffett back company urch formally restoration Hardware.
UM, I guess you know thestock surge length here, but now they
have a lot to live up towhat's happening with our UM. I think
(26:55):
that, um, there's not asmuch disposable income for a lot of higher
end for for uh you know,your regular citizens right now. And I
think that's more and more going tobe the case. I don't know how
much of the stimulus money went toyou know, these type of priced items.
But I just think that everybody Italked to in my ecosystem manufacturers,
(27:18):
the cost of everything from fuel tosupplies is going up dramatically, and I
think that's just gonna have a rippleeffect of course the economy, and there'll
be more restoration hardwares that have hardercomparisons to the BUK too. So um
warm Buppe and Charlie Mungo were absoluteBitcoin haters from the beginning, proved to
(27:40):
be wrong there they got a break. Burk Shy at the way got crushed
on a recent investment. Were warmBuppet kind of admitted this annual letter,
Hey I made a mistake. Ioverpaid for this company. But burk Shy
did get a bailout when Joe Bidencanceled the Keystone pipeline because they own a
bun Railroads, so railroads will notbe shipping that oil again instead of going
(28:03):
through a pipeline. Is buffett like? Is restoration an all a long way?
Maybe you know the times have passedthem a little. It feels that
way, It really feels that way. What I'd like to see is you
know where the support is I'd liketo see some insiders in the company making
some significant purchase that would give mea pause to really take a deeper,
(28:27):
closer look at it. But otherwise, you know, there's just too much,
too much action elsewhere to really drilldown on restoration hardware. It's still
kind of still kind of a noman's land as far as having clarity.
Um, you know, Warren Buffett, you know, has been wrong on
(28:51):
crypto. I think he missed theidea that the bitcoin is a really good
store value as a replacement for gold. Maybe not as a store value as
a car ocy but maybe he spenttoo much time sweating that not really drilling
down on his on your reports andhis uh, you know, his financial
statements when he's doing his own homework. You know, his legacy. We
(29:11):
made him who he is. UhAnd maybe he's got to revisit restreation hardware.
Who knows. Yeah, I guessthey'll say, Hi, Joe,
we got about a minute left investyou. Over the last few months,
has been kind of trading like aproxy to bitcoin. Came out with some
great numbers that day the other daybecause that they have a bunch of bitcoin
on their balance sheet. Now,how things happened in you over there,
(29:34):
and Joe and I a boat jail, were not so listening to nearby.
Huge huge, absolutely huge. Sobut they also made an announcement that they
bought a million dollars worth to benddown, and it was kind of what
we look at is bitcoin two pointzero bitcoins. A trillion gold is nine
ten trillion. The global currency marketis one hundred trillion, so literally that
(29:55):
markets one hundred times the size ofbitcoin. And investor you just happens to
have a division that happens to havean agreement with something we think could be,
you know, a bit coined inthe global currency market. And because
we're buying it at a deep discountright now, the phones are bringing out
the hook and that is why I'mlate, and please accept my apologies.
(30:17):
Well, he may be a littlelate today. The mean leaked to the
Wall Street party. He's been atit for a long time and when Josie
had a punch bowl's bow. He'sthe CEO of Weald Colony. My good
friend, Joe, thank you verymuch, father, appreciate it. You're
welcome. Thank you all right,o'hagen. As it comes to us every
Wednesday and my next days. KarenTurk is hell as every Wednesday was behind
(30:41):
the headlines on why Joe Biden isbeing investigated for canceling Donald Trump's wall construction.
So keep you up to speed onthat animal when we go behind the
headlines with Karen Turk right after thisback. Yeah, it's a woman Wednesday,
(31:08):
and we have the absolute best lineupof man killers or whatever ever you
identified as if you look like aman. I want to talk a little
later about this new term city gender, but I don't care. I continue
and call it woman Wednesday. AndI have a whole load of reasons why
women have better insights than most men. But my next gaster who joins me
(31:32):
every single Wednesday for quite some time, Karen Church whom is Florida and she
also hosts the behind the Headlines podcaston YouTube shop radio show, and she
digs in on the big investigative piecesof the day. Karen is some breaking
newsday as the Government Accountability Office saysthat lunch an investigation into Joe Biden that
(31:55):
he may have broke the law haltingconstruction of the border wall. Well,
thank god, you know what's goingon down at the border for it's just
unreal and I can't believe that they'vesilenced the media on this. But it's
no surprise, you know, theywant to close the public's eyes to what's
really happening as these facilities become overcrowdedand people are in squalor, and it's
all you know, the fault ofthis Biden administration, and you know,
(32:20):
what they've done down at the borderis a national crisis. It's a it's
a hetrocity. I mean, it'sjust unbelievable that they say that they care
about people. They say that theycare about these you know, immigrants and
these refugees, and they obviously don'tcare because they're allowing them to suffer.
Yeah, and Katie, I sawthe other day, you know that,
you know, Donald Trump was keepingkidding cages. Joe Budden is keeping them
(32:45):
in containers, right, and Isee these videos. It's the same chain
length fence. They just put thosefurry green slats in them, so it
looks like you know, they DonaldTrump said Obama built these changes. They
want to deny that. Now theykeeping these kids in the overflow in the
same exact ages and they won't callengages or a crisis, but it seems
(33:07):
like to me, every way youturn, there are people flooding over the
border, and Congress actually passed thebill and said you must spend his money
on a border wall, and nowthey're saying it maybe against the law to
not spend it on that. Right. Yeah, it's misappropriating funds, is
what it is. And he's misappropriatingthe money that was used for this particular
(33:30):
purpose. This was agreed on andhe needs to follow through on it.
So yeah, they should definitely holdhim accountable. But I think that they
should hold the entire administration accountable forthe suffering that is going on at the
border. And the fact that theydarkened to me on this and are not
allowing the coverage of what's actually happeningis just unreal. There should be a
(33:52):
huge public outcry over this. Yeah, it seems to be a big public
outcry. Even Donald Trump to suggestthat Republicans take the vaccine, that they
put it together and made an amazingaccomplishment. But I guess the Florida residency
rules are becoming restrictive for undocumented folksto get the vaccine. Andreill Biden see
(34:17):
be letting people in who are noteven tested for the vaccine, So the
superspreadus could be the very immigrants thatcan't get vaccinated. Yeah, it's it's
unbelievable. I mean, the wholething undocumented, you know, illegue goal.
I mean those two words right therespeak for themselves. Illegal is illegal.
You know, we have a legalprocess in this country to allow people
(34:38):
to come here illegally. Let's followthat process. We're not doing We're not
doing these people a service by lettingthem come here illegally. They are the
ones that suffer when they're put ina situation where they're here illegally. This
administration is just doing a disservice.It's like almost like a human rights violation.
Yeah, I mean it's it turnsout that, like what you said,
(35:01):
I had an attorney on yesterday animmigration grant. It said, you
know, the fact that they've comehere illegally, it means immediately they've broken
the law. So unless they havea legitimate asylum plane, which ninety percent
them a dismiss why can't we goback to Donald Trump's plane of keeping them
(35:22):
on the other side of the borderuntil the court they comes up. But
no wall, there's no way tostop it. I guess there's no way
to stop it. And this isan administration that doesn't care about the American
people. They certainly also don't careabout these illegal immigrants. It's just it's
complete hypocrisy. It's unbelievable. It'syou know, a government misspending their misappropriating
(35:45):
funds. And Biden does need tobe held accountable for sure, and we
as Americans need to stand up andmake sure that we hold the president accountable
when things aren't being done the waythat they're supposed to be done. And
this is a perfect illustration of that. So, the national debt is approximately
thirty trillion right now, and wejust spent another two trillion on the COVID
(36:08):
relief bill that only has like tenpercent of it actually COVID relief. Now
they're talking about another three trillion onan infrastructure bill. Joe Biden may have
knocked up the national debt by liketwenty percent in as far as one hundred
days and all of this. Thisis sick. How do we think for
this? It's sick. And youcan look at the basic things just as
(36:31):
a basic person you know, livingin our country right now, you know,
you go to fill up your car, cost me eighty five dollars to
fill up my car the other day. You know, with a gas prices
everything, you know, we're goingto see a major economic downturn. We
already are and look how quickly it'shappening. And this is all the fault
of this administration. And you knowthe impact it's going to have, I
(36:54):
believe, is going to go sofar left and so radical and so bad
that the only place that we'll beable to come back is somewhere in the
middle. And hopefully the country willbe better for it. But we're going
to suffer for the next few years, that's for sure. Well, sometimes
when you've had like a great nightout or a great weekend, you need
a good colonic, like a goodcleanout, to you know, re energize.
(37:16):
So maybe after the cleanout will bestronger. But um, you down
in your neck at the woods littlesouth of you, Miami Beach b shows
after a weekend of complete mayhem,they're going to start a biden by the
curve. Forew M is it gettingout of hand down there or too many
interlopers from entering town from other places. It's completely it's complete chaos down in
(37:40):
Miami. I would not want tobe down there. I'm watching the news
unfold just like you guys are,and it's pretty appalling. I mean,
there's just an utter, utter disrespectfor law enforcement and for law and order.
And again, this is a societalproblem that's been you know, just
really made worse and worse by thisleftist at and now we have all of
(38:01):
these kids down there, these collegeage kids and young people that have absolutely
no respect for law and order orlaw enforcement. Well, I remember when
I was a young man going onspring break. We had very little respect
for normalcy. We were going crazy. And then on top of it,
I guess after a year of lockdown, these kids are finally getting out of
(38:22):
the house and getting away from theirparents. So it's like, you know,
it's like, you know, it'sa break time at country club when
all the workers diving into pool onKaddy shop, you know what I mean,
and they're like do crazy. Buthopefully May Suarez gets it under control.
The main thing is anything that's goingon in Florida. We have Bloma
(38:44):
Miss Florida herself, and she goup find the headlines every week. Karen,
thank you, you're the best.Thanks Karen Surt comes to us from
Florida. Every single week she goesbehind the headline to check it out on
YouTube. And Joe Biden may havecrossed the line when he shut down the
border wall. We'll look in tomorrowthat more a little in the next hour.
(39:06):
Farewell to my friends on the radio. After hour one, we'll see
you again tomorrow, and the restof you stay right there. Well,
flip it over the top of thehour and come back with hour or two
right after this
Her welcome back today. Like everyWednesday, we sell relebrate the woman.
As I've said many times, womenare smart, smart, um, more
organized, women live longer, thehealthier. The women of the majority in
(00:25):
this whole country, or at leastthose that identify as women. We're gonna
talk a little later about this newterm called this gender, which are I
guess women who are women and stillidentify as women or something like that.
But we try to highlight the accomplishmentsand ideas and thoughts of women every Wednesday.
So far women are not canceled,which is a good sign. Today's
(00:47):
National choca covered Raisin Day. Andif you're a raisin, be careful because
the progressors may say that the chocolateis smothering you, so we may lose
chocolate covered raisin. So but speakingof sweet, she's the sweetest around.
She joins me every Wednesdays. ThenSam's as well to stay zen. How
are you? I am good?How are you so zen? There's a
(01:08):
lot going on. I have anumber of topics that I want to cover
here with you, but you usuallyhave your finger on the pulse of what's
happening. What's the most important thingwe need to know? About this week,
Well, we have some good thatcame out of something tragic with comedian
Ken Jungo donated fifty thousand dollars tothe families of the victims who were killed
(01:30):
in the shootings at the three Atlantaarea spas which just happened last week with
a tragedy. He gave five tenthousand dollar donations. They were made by
him kind of anonymously on the gofund me campaign, but everybody knows his
name, so it was confirmed lateron that the donations didn't fact come from
Ken Jung who most people know himfrom the Hangover so you know, his
(01:56):
parents migrated to the US from SouthKorea and also shared some of His parents
also shared some of the fundraising campaignsto his Twitter account, so it became
a whole thing because of his heritage. He also shared a video to his
account calling for an end to youknow, anti Asian racism in the aftermath
of the shooting. So it waskind of a something beautiful that happened that
(02:17):
something negative, and I know youalways like those, Uh that is beautiful.
Um, we'll get to the happyendings later, but this, um,
what what's happening with all the steamsI know for a while there you
will cover in all of the differentsex trafficking cases and Harvey Weinstein, the
(02:38):
Jeoffrey Epstein. Um, what arethe developments on those fronts? Weinstein first,
Yeah, we got the two steamsWeinstein and Epstein. So Harvey Weinstein
accusers basically dropped the sex trafficking lawsuit. You have the three three of these
women, one of them goes bythe name of Lousy, Louis Zette,
Geis, Sarah and Thomas and MelissaThompson all basically voluntarily dismissed their claims against
(03:04):
him. But the question is why. So the move from these three women
who had originally accused him of sexualmisconduct comes basically in the wake of a
settlement plan that was approved back inJanuary by a Delaware judge who was overseeing
the bankruptcy of the Weinstein company.So this is about money because the lead
plaintiffs in an attempted class action againstmany people who were allegedly involved in the
(03:30):
Weinstein company. This is not youknow, this is not just about Harvey
Weinstein. There was a racketeering complaintthat targeted him but also board members of
his former company. So then theWeinstein Company insurers. The insurers worked with
the stakeholders on a settlement and onethat established basically a seventeen million dollar sexual
(03:51):
misconduct claims fund for the victims andimportantly, the stakeholders involved in the in
the bankruptcy included like the New YorkAge She's Office. They originally have lacked
the power to get the women todrop the claims against Harvey. So the
fact that their clients have now droppedthe sex trafficking account against Weinstein isn't surprising
because they were incentivized. So thisis kind of where it's going because there's
(04:15):
a huge money settlement and according tothe dismissal modus, they did reserve the
ability to reinstate the claims within onehundred and twenty days if the sexual misconduct
claims fund is not disbursed. Sothey're protected on both sides. But that's
what's going on on Harvey side.Now on the Epstein side, Yeah,
what's going on in the Stein Now. I have a long been an advocate
of the idea that Jeffrey Epstein didnot kill himself, and the key to
(04:40):
unlock that pin door's box probably restwith Gizlaine Maxwell and now for the third
time, she's asked the judge tolet her out on bail. Yeah,
she's being currently held in a NewYork prison and she's awaiting trial on charges
of conspiracy, perjury, and citingminors to travel to the partic to pay
an illegal sex accent. For therecord, she's pleaded not guilty and her
(05:02):
trial is expected to begin in July. But she's made now her third bid
for bail, and she offered tobasically renounce her French and British citizenships to
eliminate any opportunity for her to seekrefuge in those countries. She offered her
to have her asset that's placed inan account that would be monitored by a
retired federal judge so that she wouldn'tbe at flight risk. But basically,
(05:24):
the prosecutors argued that even setting thoseconditions for her release wouldn't change the fact
that she continues to pose an extremerisk in flight because she does have substantial
international ties and personal connect abroad,tons of financial resources, and tons of
experience evading detection. So, likeyou said, she is the key to
(05:44):
something much deeper and bigger, andshe should be kept locked up until the
last possible minute, because she onceyou released her, she's got, She's
gone. She's like many people don'tknow this, but I've talked about this
before, Joe Biden and brother Owenand I and just a few miles away
from Jeffrey Epstein's island it used tobe a submarine base back to the Army.
(06:05):
And believe it or not, Williemacfell has a submarine pilots license and
a helicopter pilots license, so shecould get in the wind anyway possible.
Wow. But let me ask youthis, Megan Marko has been taken on
the chin lately. Not much happyending there. Pierced Morgan, you know,
walked up the you know, hesaid he thought she was exaggerating things.
(06:28):
What do we find out now aboutthis the most secret wedding, Well,
there was another misstep right for Meganthe duchess. I mean, Megan
messed up because or did she not? I don't know. Prince Harry and
her confessed the other week when theydropped the big bombshell Oprah interview that the
secret wedding did not happen and thatthe couple actually exchanged personal vows a few
(06:50):
days before their official legal wedding,which the official date now is apparently May
nineteenth, so that's three days beforetheir wedding. No one knew that apparently,
so just the two of them kindof did this in the backyard with
the Archbishop of Canterbury and the sourcesconfirmed that the legal wedding date is in
(07:11):
fact May nineteen. So the Churchof England is saying that it requires two
witnesses for any marriage to be validand that ceremonies must take place in a
certified place of worship, neither ofwhich Megan and Harry apparently abided by.
So that's the big bruhaha. Okay. And then finally, Vanessa Bryant got
(07:34):
a new tattoo to honor her daughter. Yes, what a sad story,
but I think she's finding ways ofhealing, and this is probably one way
that she's choosing to heal and continueto keep the memory alive. And it's
basically continuing to honor her late daughter, Gianna, who was killed back in
(07:55):
January twenty twenty with Kobe and thehelicopter crash with tragedy. She Vanessa this
morning, very earlier on social mediashowed off this new risk tattoo with the
word Mamba Sita, and that's anickname given to thirteen year old Gianna and
it was inspired by her dad's blackMamba Moniker. So she posted the video
of her eighteen year old as welldaughter in Natalia, getting a tattoo and
(08:18):
the word news inside on her rightmiddle finger and both of those. We
don't know if it has anything todo with tributes to her sister, but
we know that it was done bytattoo artist Nico Courtando. All right,
let me let me ask you thisbecause you got the inside track on all
Hollywood Group stuff too. We gotabout a minute and a half left.
(08:41):
But Netflix is working with Holly Berryon the directorial debute Bruised, which you
happen to be in I believe right. No, I'm not in Bruce,
but Brad Feinstein, my husband ofRomulus Entertainment, produced, and that is
her directorial debut. Yeah, that'sa that's a huge headliner. So Hallie
(09:01):
joins Mark Wahlberg in Our Man fromJersey and this is a Netflix production and
it's going to be basically an actionthriller. It's a blue collar James Bond
in a nutshell. So it's describedas something that they've been working on together.
And because she has relationships with Netflixbecause of her directorial debut Bruise,
which was our production company. Thatmovie was acquired at Tiff not long ago.
(09:24):
She's an Oscar winner. You know, she's recently seen in John Wicks
film, the third John Wick andthe next thing she's going to be seen
in is Moonfall. But yes,it is rumored out there that this Netflix
is in production with Halle Berry andMark Wahlberg, our man from Jersey,
So look out for that about aboom. All right, well you want
(09:46):
to kick off the one Wednesday,correctly, you've got to go to the
lead off spot with Zen. Sam'syou know at all We go from crime,
sex, trafficking, investigations, Hollywoodmovies, documentaries, you name it,
she can cover it them. Thankyou. Oh and I see you
going with the puffy sleeves. Still, we're also going to be here.
(10:07):
A little later. She was sayinglast Sleek that the cool new style is
the puffy sleeves, and of courseZen is way ahead of that trend.
Also, no surprise. Thank you, my darling. You're the best.
And I'm sorry if you're not identifyingas a Darling today, but I think
you are Oh no, I alwaysidentifies Darling and shout out to Carla,
you look beautiful in your photos.Yeah, all right, that's Zen Sam's
(10:31):
who starts it off on fire.Would be a fire breathed and dragon,
that's for sure. Um, liquidLunch would not be the same without the
wonderful and talented Zen Sam's. Loveyou guys so many years. Thank you.
I appreciate it. All right,quick break, come on back after
this. It's some old woman Wednesdaythe liquid Lunch just for you, all
(11:11):
right, all right, welcome back. It is a woman Wednesday editional liquid
Lunch on Wednesday and try to highlightthe accomplishments of women in the arts,
politics, business, all kinds ofdifferent things. But when you get the
great guys, you got to getthem in the schedule. And that's happened
for us today. As we getthrough the first hour here or the Wednesday
edition, liquid Lunch dow up nicelyand as that going the other way,
(11:35):
which is weird, they're a littledislocated right here, but that's been happening
a lot over the last couple ofweeks. Big surge and blue chips like
airlines and stuff. And as I'vetold you, United Airlines and certain other
stock bowing stock, they have agreater weight on the dave. So when
they're up big, they kind ofpull over the other components up with them.
(11:56):
But our next guest knows a lotmore about this stuff than me.
Eddie Gabor joins us right now cowour Key Advisory group. Eddie is also
the author of the Coming Sense Bold. His advice is anything but bold.
Do you think, Eddie? Peoplesaid, well, at some point,
we're gonna get back to normalcy,but you kind of think that we're in
(12:20):
a permanent pandemic. Now, Well, look, I think right now,
for the time being, we are. Look, this pandemic has changed the
landscape of many things, especially inthe business world, and that's why you're
seeing the dynamics unfold in the marketand why we think active management is going
(12:41):
to really really be any type ofpassive investment over the next twenty four months.
So some of the changes that havehappened du this pandemic are permanent,
in my opinion, not of them, not all of them are bad,
But for the most part, muchof America will go back to somewhat normalcy
within the next two years is ouropinion. We've got to get through this
year and see how it unfolds goinginto twenty twenty one at the end of
(13:05):
twenty twenty one, into twenty twentytwo. But from a market standpoint,
we think there's a lot of tremendousopportunities in the next six months, especially
in the oil space and the cyclicalstocks. We've been overweight those going into
the year and underweight tech because wethink technology is going to continue to struggle
as we're in a rising interestrate marketenvironment heading into the rest of this year.
(13:28):
Yeah, I'm a little skeptical.I'm reading about how cyclical post war
cyclical stocks tend to be in thenew growth stocks, but if people are
talking about all hospitality and I justfeel like the travel part is not going
to come back as fast as peoplethink, So I'm skeptical of some of
the cyclical so you know what Imean. Yeah, I mean, we
(13:52):
definitely prefer energy companies right now becauseI think the demand for oil is going
to go up over the next fewmonths as we open up the largest economy
in the world. Plus to thatwith the fact that current policies right now
in Washington are hurting the supply.So it's kind of like a Goldilocks scenario
for oil, where policy in DCis causing the supply to good, then
(14:16):
call supply to go down here domesticallyand demand going up. So we think
energy, in our opinion, hasthe most upside out of all the cyclical
stocks over the next six months.But we've already told clients going to the
fourth quarter, we're gonna start tomore than likely become very, very cautious
because this inflation that everyone seems tobe ignoring is here. It's real,
(14:39):
and it's going to become a headwindas we go to the end of this
year. I d to agree withyou. And you know, if you
remember going back, you know whenDonald Trump was president, there was a
chime that we were energy and dependentand we were at a net exporter of
oil, and there was a crazywhen the wild contangle went in with we
(15:01):
had so much oil you can't payyou could they were paying you to take
the oil off their hands. Andimagine the speculators out there who got paid
Clardy flat isles a barrel to takephysical delivery back six months ago. And
now the contrast is Joe Budden shutsdown to Keith going pipeline guess prices rising
dollars going down, mind pricing dollars, So what an all of a charge
(15:24):
that would have been high? Absolutely, And look that's why we felt going
into this year in December, whenwe made that call for clients to start
going overweight energy, we felt like, I say this humbly, that's about
the easiest call we'll get. Itwas like a layup, you know,
if you're going to reduce the supplyand you know the man is going to
come up, you know, andfrankly it's a shame because it's going to
(15:46):
hurt the middle class and be low. Because as those asset prices go up,
so is everything else that you spendmoney on. You know, brussh
you name it. It's that stimuluscheck that they just got. It's going
to go basically to their gas tank. That's that's that's right. And you
know, if you if you're lookingfor, you know, empirical signs of
(16:07):
Joe Biden's policy, look no furtherthan a weakening dollar. Commodities are worldwide
are priced in US dollars, Soif the dollar is weakening, then commodities
prices must rise for people to getthe amount of dollars they actually need.
At this a company of Job CreatorsNetwork. We've had some of their quocus
(16:30):
on the poem. They do greatwork. Took out the big billboard in
Times square Um talking about Joe Bidensaid he was gonna if you made less
than four hundred thousand, you're okay. Now a number two hundred thousand really
attacks on small businesses, and itreally is. And look, you can't
you know, you can't just say, oh, it's only going to affect
this. Look, I'm a businessowner and I've run a business for twenty
(16:52):
some years. If you raise myexpenses, you have to do something to
all set that expense. That's eithercutting an employee or raising the cost of
your service or both. So ultimatelyeveryone is going to pay more, no
matter what sector you just to saythat you're going to attack. So you
(17:14):
can say whatever income bracket you wantto say is going to be affected,
but everyone is going to be impactedwhen you do that. And oil is
the best example you can get.Right. They they wanted to hurt the
big oil companies. They're gonna makemore money than they have in years.
So they're probably his biggest fan,right, now, no question about it.
And you know here in New York, I've been faighting, but small
businesses trying to get up. NewYork reopened, and you know they're proposing
(17:40):
this millionaires attacks now in New Yorkand like the beds want to mark to
malukeet capital games even if they're onpaper. So it's like Joe Biden's policies
are attacking not only the employers butthe employees. And I've sent payroll tax
things are getting like really bad quick. Some of the stuff we're reading on
(18:00):
some of the tax policy is extremelyscary, and there's so many unintended consequences
that the average person probably doesn't understandthat will happen with all of this.
The stepped up costs basis talking aboutchanging that as well too. I mean
that would crush most Americans because thatwould eliminate the one tax benefit they have
on their house. So you doimplement those things, you'll find the fastest
(18:22):
way for this bubble that we're inright now to pop and see a major
collapse. And I don't say thatto scare investors, that's just the reality
behind it. That's why we've toldthe clients based on the rate of acceleration
right now. By fourth quarter,we're gonna start playing some defense, got
it. Well, listen, ifyou got these guys working for you,
you're in the lead. And ifyou know anything about football, if you're
(18:45):
in the lead, run the balland play defense. That's how you win
championships. So stay active, andthank you very much for joining us.
You are great, great insights.You've got to have you back soon.
Thank you. Have a great day. Eddie Board No, not a relative
of Jaja, but it sounds thesame. And you know, we try
to bring you the best guests,and certainly in the first hour all our
(19:08):
friends out there on the Money stationin Portland business talk radio, we try
to bring you as much as wecan on great insights on what to do
with your portfolio and things that youshould think about. And guys like Eddie
Gabore from Key Advisors Group are greatcontributions and I appreciate it. Thank you,
(19:30):
Thank you. All Right, soyou're watching Liquid Lunch and you want
to know more about what's happening inyour portfolio. All Wall Streeted Insight or
Joe Hagen's going to join us rightafter this. We're gonna get an update
on bitcoin, what's going on inthe bitcoin mining world, and if you
should add a little of the alternativeasset class to your portfolio. Joe Hagan
checks in with us again as hedoes every Wednesday, right here on Liquid
(19:53):
Lunch. We'll take a quick breakand get back all right, welcome back.
Yeah, it's a Wednesday on Wednesday. It's one Wednesday Radio. I'll
(20:15):
look for lunch from day one andwe uh. I love to highlight accomplishments,
thoughts and ideas of women in manyways, and thankfully for us are
a number one. My boss isback, calls Dash you make it sure
me and Mikey is staying in line. Um, and we have a whole
array of other amazing women. UM. I just me call host one day
(20:40):
on one Wednesday and take the dayoff. Probably a better Tampa show.
Joe Hagen's gonna join us in justa few minutes talking about bitcoin. You
know what I think about bitcoin,and it continues to wow as we come
through the first hour here noon toone Eastern. Welcome to everyone out on
money station. Good morning to youguys. I show you a bitcoin today
(21:04):
at fifty six thousand, and we'llget Joe Hagen's thoughts on that and where
the risks are and where we thinkit's going. If you're invested in Dave
stocks, you're happy you're in theamountainee up three oh nine has back down
fifty seven. So the market isgetting down to business today, that's for
sure, and we want to getback to business here in this country.
(21:29):
It looks like the vaccine is makingthe markets feel a little better about opening
up. One crazy thing that Ijust heard recently is you can have events
up to one hundred and fifty people, but kids can't have a prompt.
Do you hear about this called noprompts? Schools are having no proms,
(21:52):
And you know, I'm almost thinking, like that's so crazy, because like
this is like, you know,if there was no junior prom in nineteen
eighty two, I may have nevermet Harlm. It was, you know,
my buddy in high school's junior promdate, you know what I mean.
So think about all the lifelong relationshipsthat could be destroyed. And she
(22:17):
wasn't even my date, she wasmy friend's date. But it's just this
is how thing's happened in your youngeryears, and think about all the possibly
great lifetime relationships that will be strickenfrom possibility by the elimination of proms.
Okay, and I'm almost thinking,call I, you know, you know
(22:37):
I like to push the envelope.But I was thinking I would have maybe
a promathon at my house, youknow what I mean, and pick out
some schools and give them like athree hour window, you know what I'm
saying, and let them come tohave a dj old day and say,
this school came from you know,twelve to three. Then the next one
came from three to five, thenext one came from six to eight to
(23:00):
twelve, you know, and justyou know, if I have it outdoors
at my house where I have plentyof room, I feel like I might
be able to make a difference,much like we did with the Salon,
the Salon by the Sea for thoseof you who don't remember and think JT
just started running for office and nowhe's doing things. Um way back way
(23:22):
back in May of last year,I was opening up my house to local
hairstylists and barbers and stuff and weresetting the whole thing up. Call.
I had the whole Manny petty team. We had schedules going, we had
haircuts, we had manicures, wehad pedicures, we had back massages,
we had everything going on, andit was just a way to give people
(23:45):
a chance to get out, gosomewhere and make a few bucks. And
it were I mean, if Iopened the nail salon again today, they'd
probably be a line here because everybodyliked hanging out in my backyard. So
all right, we have Joe Hagan. Now, Joey Higgins, old Wallstree
insider joins us every Wednesday. Um, Joe is an article here on MSN
talking about how bitcoin could surge tothree hundred thousand, but then they could
(24:10):
be a monumental pop, a burstin the bubble. What do you think.
I think that's entirely plausible, Um, although I think, you know,
the cream that rise to the topwon't necessarily will be part of the
entire burst. In other words,like if you look at all of the
wannabes in the dot com world,um, you know dot Pizza, dot
(24:30):
com, shit, dot com whatever, it was everything that comment that went
way higher. Sorry about that,but I mean that's just the way of
negative, negative, vibrational dot coms. A lot of them didn't work out
right, And it was when thatdot com bubble burst that you saw.
It happened. So there's a lotof these players in the crypto world that
I think are at that same um, you know, time and place right
(24:55):
now that they're trading, and they'regoing to trade with that momentum and bitcoin,
and at some point some of themare going to meet their makers,
and the ones that have real storesof value like bitcoin will survive. So
Joe, I know, but youthink it would you think we can get
a run all the way to threehundred thousand. That sounds like a big
number to me from the end,So that would be right, three hundred
(25:22):
thousand divided by fifty thousand is six. That would be six trillion on bitcoin,
which is still below the nine orten trillion the traditional goal is.
And I'm not gonna say I'm sayingit's plausible. I'm yeah, No,
no, no, we don't,we don't. We're not soliciting anyone to
buy any I just you know,I'm gonna going to sixty thousand again,
you know what I mean. SoI feel like it's been in the range
(25:47):
here, but this is the wayit's been trading over the last at least
six months. It pops to anew level. It retraces a little bit,
games a little support down there,and then breaking through the last resistance,
and the pattern goes on and on. Three hundred sounds like you know,
we need we need a lot ofinstitutions to stock coming. Yeah.
Yeah, And I think that coinbased IPO and just a lot more access
(26:10):
on main street. You see moreStanley allowing their wealthy you know, clientele
to start participating. I think thatthat makes a case for me and my
hallucination of about No. One hundredthousand by year end seems you know,
um, two trillion dollars. Youknow that that kind of evaluation on bitcoin
does not seem outrageous. UM threehundred thousand is above my pay grade.
(26:33):
To really drill down, uh WarrenBuffett back company urch formally restoration Hardware.
UM, I guess you know thestock surge length here, but now they
have a lot to live up towhat's happening with our UM. I think
(26:55):
that, um, there's not asmuch disposable income for a lot of higher
end for for uh you know,your regular citizens right now. And I
think that's more and more going tobe the case. I don't know how
much of the stimulus money went toyou know, these type of priced items.
But I just think that everybody Italked to in my ecosystem manufacturers,
(27:18):
the cost of everything from fuel tosupplies is going up dramatically, and I
think that's just gonna have a rippleeffect of course the economy, and there'll
be more restoration hardwares that have hardercomparisons to the BUK too. So um
warm Buppe and Charlie Mungo were absoluteBitcoin haters from the beginning, proved to
(27:40):
be wrong there they got a break. Burk Shy at the way got crushed
on a recent investment. Were warmBuppet kind of admitted this annual letter,
Hey I made a mistake. Ioverpaid for this company. But burk Shy
did get a bailout when Joe Bidencanceled the Keystone pipeline because they own a
bun Railroads, so railroads will notbe shipping that oil again instead of going
(28:03):
through a pipeline. Is buffett like? Is restoration an all a long way?
Maybe you know the times have passedthem a little. It feels that
way, It really feels that way. What I'd like to see is you
know where the support is I'd liketo see some insiders in the company making
some significant purchase that would give mea pause to really take a deeper,
(28:27):
closer look at it. But otherwise, you know, there's just too much,
too much action elsewhere to really drilldown on restoration hardware. It's still
kind of still kind of a noman's land as far as having clarity.
Um, you know, Warren Buffett, you know, has been wrong on
(28:51):
crypto. I think he missed theidea that the bitcoin is a really good
store value as a replacement for gold. Maybe not as a store value as
a car ocy but maybe he spenttoo much time sweating that not really drilling
down on his on your reports andhis uh, you know, his financial
statements when he's doing his own homework. You know, his legacy. We
(29:11):
made him who he is. UhAnd maybe he's got to revisit restreation hardware.
Who knows. Yeah, I guessthey'll say, Hi, Joe,
we got about a minute left investyou. Over the last few months,
has been kind of trading like aproxy to bitcoin. Came out with some
great numbers that day the other daybecause that they have a bunch of bitcoin
on their balance sheet. Now,how things happened in you over there,
(29:34):
and Joe and I a boat jail, were not so listening to nearby.
Huge huge, absolutely huge. Sobut they also made an announcement that they
bought a million dollars worth to benddown, and it was kind of what
we look at is bitcoin two pointzero bitcoins. A trillion gold is nine
ten trillion. The global currency marketis one hundred trillion, so literally that
(29:55):
markets one hundred times the size ofbitcoin. And investor you just happens to
have a division that happens to havean agreement with something we think could be,
you know, a bit coined inthe global currency market. And because
we're buying it at a deep discountright now, the phones are bringing out
the hook and that is why I'mlate, and please accept my apologies.
(30:17):
Well, he may be a littlelate today. The mean leaked to the
Wall Street party. He's been atit for a long time and when Josie
had a punch bowl's bow. He'sthe CEO of Weald Colony. My good
friend, Joe, thank you verymuch, father, appreciate it. You're
welcome. Thank you all right,o'hagen. As it comes to us every
Wednesday and my next days. KarenTurk is hell as every Wednesday was behind
(30:41):
the headlines on why Joe Biden isbeing investigated for canceling Donald Trump's wall construction.
So keep you up to speed onthat animal when we go behind the
headlines with Karen Turk right after thisback. Yeah, it's a woman Wednesday,
(31:08):
and we have the absolute best lineupof man killers or whatever ever you
identified as if you look like aman. I want to talk a little
later about this new term city gender, but I don't care. I continue
and call it woman Wednesday. AndI have a whole load of reasons why
women have better insights than most men. But my next gaster who joins me
(31:32):
every single Wednesday for quite some time, Karen Church whom is Florida and she
also hosts the behind the Headlines podcaston YouTube shop radio show, and she
digs in on the big investigative piecesof the day. Karen is some breaking
newsday as the Government Accountability Office saysthat lunch an investigation into Joe Biden that
(31:55):
he may have broke the law haltingconstruction of the border wall. Well,
thank god, you know what's goingon down at the border for it's just
unreal and I can't believe that they'vesilenced the media on this. But it's
no surprise, you know, theywant to close the public's eyes to what's
really happening as these facilities become overcrowdedand people are in squalor, and it's
all you know, the fault ofthis Biden administration, and you know,
(32:20):
what they've done down at the borderis a national crisis. It's a it's
a hetrocity. I mean, it'sjust unbelievable that they say that they care
about people. They say that theycare about these you know, immigrants and
these refugees, and they obviously don'tcare because they're allowing them to suffer.
Yeah, and Katie, I sawthe other day, you know that,
you know, Donald Trump was keepingkidding cages. Joe Budden is keeping them
(32:45):
in containers, right, and Isee these videos. It's the same chain
length fence. They just put thosefurry green slats in them, so it
looks like you know, they DonaldTrump said Obama built these changes. They
want to deny that. Now theykeeping these kids in the overflow in the
same exact ages and they won't callengages or a crisis, but it seems
(33:07):
like to me, every way youturn, there are people flooding over the
border, and Congress actually passed thebill and said you must spend his money
on a border wall, and nowthey're saying it maybe against the law to
not spend it on that. Right. Yeah, it's misappropriating funds, is
what it is. And he's misappropriatingthe money that was used for this particular
(33:30):
purpose. This was agreed on andhe needs to follow through on it.
So yeah, they should definitely holdhim accountable. But I think that they
should hold the entire administration accountable forthe suffering that is going on at the
border. And the fact that theydarkened to me on this and are not
allowing the coverage of what's actually happeningis just unreal. There should be a
(33:52):
huge public outcry over this. Yeah, it seems to be a big public
outcry. Even Donald Trump to suggestthat Republicans take the vaccine, that they
put it together and made an amazingaccomplishment. But I guess the Florida residency
rules are becoming restrictive for undocumented folksto get the vaccine. Andreill Biden see
(34:17):
be letting people in who are noteven tested for the vaccine, So the
superspreadus could be the very immigrants thatcan't get vaccinated. Yeah, it's it's
unbelievable. I mean, the wholething undocumented, you know, illegue goal.
I mean those two words right therespeak for themselves. Illegal is illegal.
You know, we have a legalprocess in this country to allow people
(34:38):
to come here illegally. Let's followthat process. We're not doing We're not
doing these people a service by lettingthem come here illegally. They are the
ones that suffer when they're put ina situation where they're here illegally. This
administration is just doing a disservice.It's like almost like a human rights violation.
Yeah, I mean it's it turnsout that, like what you said,
(35:01):
I had an attorney on yesterday animmigration grant. It said, you
know, the fact that they've comehere illegally, it means immediately they've broken
the law. So unless they havea legitimate asylum plane, which ninety percent
them a dismiss why can't we goback to Donald Trump's plane of keeping them
(35:22):
on the other side of the borderuntil the court they comes up. But
no wall, there's no way tostop it. I guess there's no way
to stop it. And this isan administration that doesn't care about the American
people. They certainly also don't careabout these illegal immigrants. It's just it's
complete hypocrisy. It's unbelievable. It'syou know, a government misspending their misappropriating
(35:45):
funds. And Biden does need tobe held accountable for sure, and we
as Americans need to stand up andmake sure that we hold the president accountable
when things aren't being done the waythat they're supposed to be done. And
this is a perfect illustration of that. So, the national debt is approximately
thirty trillion right now, and wejust spent another two trillion on the COVID
(36:08):
relief bill that only has like tenpercent of it actually COVID relief. Now
they're talking about another three trillion onan infrastructure bill. Joe Biden may have
knocked up the national debt by liketwenty percent in as far as one hundred
days and all of this. Thisis sick. How do we think for
this? It's sick. And youcan look at the basic things just as
(36:31):
a basic person you know, livingin our country right now, you know,
you go to fill up your car, cost me eighty five dollars to
fill up my car the other day. You know, with a gas prices
everything, you know, we're goingto see a major economic downturn. We
already are and look how quickly it'shappening. And this is all the fault
of this administration. And you knowthe impact it's going to have, I
(36:54):
believe, is going to go sofar left and so radical and so bad
that the only place that we'll beable to come back is somewhere in the
middle. And hopefully the country willbe better for it. But we're going
to suffer for the next few years, that's for sure. Well, sometimes
when you've had like a great nightout or a great weekend, you need
a good colonic, like a goodcleanout, to you know, re energize.
(37:16):
So maybe after the cleanout will bestronger. But um, you down
in your neck at the woods littlesouth of you, Miami Beach b shows
after a weekend of complete mayhem,they're going to start a biden by the
curve. Forew M is it gettingout of hand down there or too many
interlopers from entering town from other places. It's completely it's complete chaos down in
(37:40):
Miami. I would not want tobe down there. I'm watching the news
unfold just like you guys are,and it's pretty appalling. I mean,
there's just an utter, utter disrespectfor law enforcement and for law and order.
And again, this is a societalproblem that's been you know, just
really made worse and worse by thisleftist at and now we have all of
(38:01):
these kids down there, these collegeage kids and young people that have absolutely
no respect for law and order orlaw enforcement. Well, I remember when
I was a young man going onspring break. We had very little respect
for normalcy. We were going crazy. And then on top of it,
I guess after a year of lockdown, these kids are finally getting out of
(38:22):
the house and getting away from theirparents. So it's like, you know,
it's like, you know, it'sa break time at country club when
all the workers diving into pool onKaddy shop, you know what I mean,
and they're like do crazy. Buthopefully May Suarez gets it under control.
The main thing is anything that's goingon in Florida. We have Bloma
(38:44):
Miss Florida herself, and she goup find the headlines every week. Karen,
thank you, you're the best.Thanks Karen Surt comes to us from
Florida. Every single week she goesbehind the headline to check it out on
YouTube. And Joe Biden may havecrossed the line when he shut down the
border wall. We'll look in tomorrowthat more a little in the next hour.
(39:06):
Farewell to my friends on the radio. After hour one, we'll see
you again tomorrow, and the restof you stay right there. Well,
flip it over the top of thehour and come back with hour or two
right after this
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