Kerry Lutz's--Financial Survival Network

Summary:
Today we have Rob Kirby on the podcast, who talks about how one of the largest and most underreported issues is the volume of trade we’re experiencing in terms of dollar return in the crypto-verse. It seems that cryptos are eating off the dollar’s plate, which means that the crypto portion in international trade is rising…while the relevance of the dollar declines. Tune in to learn about the power of crypto and some of the key distinctions between Bitcoin and Ethereum that put banks and the law profession in an interesting position.

Highlights:
-The economic house of cards is crumbling all over
-The biggest and most underreported issue is the volume of trade we’re experiencing in terms of dollar return in the crypto-verse
-On a daily basis, the crypto-verse is turning over a minimum of $100 billion equivalent on average
-We're looking at $50 trillion dollar equivalent turnover in a year
-Cryptos are eating off the dollar’s plate, which means that cryptos are categorically being used in trade settlement right now
-Countries like Iran and Venezuela had to have it to where they could continue to trade without having to settle in dollars
-The crypto portion in international trade settlement is only going to increase from here, which means dollar relevance will decline
-Hyper-inflation and massive reduction in purchasing power of the dollar stock
-The whole nature of trade settlement is changing—less and less dollars are being used to settle international accounts. Thus, they get caught up in a Repo facility
-The inflation rate in our country is at 14%
-Ethereum is rising, and will perhaps eventually eclipse Bitcoin
-Bitcoin is the killer of banks; it’s a store of value
-Ethereum is the killer of the law practice
-Bitcoin is a challenge to bankers while Ethereum is a challenge to the law profession
-There is a place in the world for smart contracts as well as the traditional store of value—they can coexist

Useful Links:
Financial Survival Network
Kirby Analytics

Summary:
Should we ‘Eat The Rich?’ It seems that this is not necessarily a viable solution, and today we have Jeffrey Socha on the podcast to break down the new tax proposal for us. While it may seem logical to impose higher taxes on large businesses, same corporations have tactics they will use as a result—tactics that will only hurt consumers and the rest of the economy. Tune in to hear about this interesting phenomenon in light of recent announcements, and to find out where this may put you in terms of taxes.

Highlights:
-With the democrats’ new tax proposal, the effective tax rate in NYC will be close to 62%, and in California it will be around 59%
-Businesses find ways to alter their business/cut costs/raise prices to avoid the effects of taxing
-People will not give you extra money without making decisions that affect everyone else
-Many of the tax shelters are available to average business owners
-Big companies have the best resources available to help them be efficient as possible
-The people that lose the most are smaller, local businesses
-The government should start with having a balanced budget
-There’s no incentive for fiscal responsibility with this modern monetary theory
-You can’t control taxes, but you can control who you vote for
-Take control of your own finances; be proactive
-This new proposal is very realistic, and we don’t know what will end up sticking until it is finalized

Useful Links:
Financial Survival Network