Kerry Lutz's--Financial Survival Network (general)

Since the big silver pullback the metal hasn’t been doing much, however the stocks aren’t doing much since then either. We’re not seeing a big move to over $30 for right now. Platinum has hit $1300. Silver has been holding up better than gold for the past several months. Corrections and consolidations in the past have shown silver has often held up better than the yellow metal. You make the big money by riding the trend. The big big move is ahead of us. Could be two years more or less. Focus on the big picture. A little more time. Platinum trend looks beautiful although Jordan confesses that he’s not the expert on this metal. There’s resist at 1400-1500. Copper has also made the huge move. Jordan sees crypto as no threat to the precious metals sector. Crypto’s returns have far eclipsed PM. Gold made a huge move last year, a spectacular move going from 1200-2100. He’s not concerned about the prolonged correction. This is how these markets work. Look for a huge crypto correction, half a currency and half a tech stock. There’s limited history for cryptos. Regulation is coming. Insurance or a lottery ticket, best way to look at it. You need to be careful. 

Mining stocks have probably hit a bottom. It can take a while, but when it happens, it will often take the market by surprise. Not enough sellers left in mining stocks, time to be buying. Next move up probably later in the year or early next year. Jordan’s not fearful of a March type correction since he believes that gold and precious metals will hold up better than most are expecting. 

The recent Covid-19 pandemic has seen a rash of people revising their estate plans or creating them for the first time. Estate and tax laws change all the time and it's something that most of us, myself included, don't really want to deal with. My recent bout with Covid drove home this point only too well and led me to do a complete estate plan overhaul. But for the sake of modern medicine, I might have left my children with a real nightmare. Which is why you shouldn't wait for tragedy to strike, you need to take care of this now. Interesting fact, 3-4 people surveyed left provisions in their will for the care of and support of their family pets. Sound don’t leave Rover with no place to go, should something happen to you. 

If you’ve survived the pandemic induced depression to this point, you need to find a way to thrive. Stop waiting for vaccine, the government, for the economy ro recover and someone to save you. John has ways to help you. Basic business growth strategy will no longer cut it. They way you used to do business is not going to work any more. Never become irrelvant. The world could care less about your problems. You need to learn how to make money no matter the political or economic situation. www.PositiontoWinBook.com.

Stop the #Scamastocracy!

The #SilverSqueeze is alive and well. Time to frontrun SLV and buy physical Silver!

Robinhood attack left a mark on the silver market and SLV.

https://www.zerohedge.com/markets/silversqueeze-hits-london-slv-warns-limited-available-silver

Exposing the Robinhood scam: here’s how much Citadel paid to buy your orders 

They have alienated an entire generation of millennials. They don’t want to know until they have to know. They feel entirely betrayed, rightfully so. They’ve done the world a favor by teaching the to be cyncial and to think critically. A painful lesson at that. 

How long before the Fed tries to manipulate long-term rates lower?

 Cannabis, alt-agra, mushrooms, and cryptos – everything alt is hot 

Amazon workers could ‘make history’ with union vote

Energy trader: we’ve officially hit “holy s*it levels”

Grid goes down in TX. NG spiked! Energy is getting erratic and this could be significant. Watch out for more craziness. 

 Flaw of large numbers: Cathie Wood’s ARK fund may have too much cash

When bubbles hit, fund managers become household names and are hailed as geniuses. The ARK fund innovation ETF. She bought Tesla stock right before it ran up. And now the next crap shoot is coming. 

Looks like Asia could be the place to go. Positive growth rates ahead. The World Economic Forum’s agenda appears to be taking place. Build Back Better! Every country has the same talking points. Everyone is calling for the Great Reset. They think that they can further their climate change agenda by destroying all jobs that aren’t green. Coal miners should learn how to build solar cells. Many people cannot make the transition to the new economy and where does that leave them? Crazy ridiculous coming down from the elites who never used their hands to change a light bulb. The stakeholder economy should be the shareholder economy.

Don’t take away our steak. Meat will be a special treat. UN says we should be eating bugs. The Elites have risen to the level of the truly absurd. Pickety is urging European governments to default on their debt and crush the pension funds. Confidence in government is collapsing and that will increase the price of gold. A similar situation to the 1980’s. We’re getting to that point now. Similar to what brought down Rome.

The velocity of money peaked in 2007 and with the pandemic, it’s gone waterfall. If you don’t trust the future. You hoard money. Inflation will spur people to buy more. Collapse in production of many products and impairment of the supply chain.

Short squeeze may have happened but Martin’s computer was long for nearly a year. The shorts were braindead. The short squeeze happened because of high frequency trading. Markets can’t handle gapping, they shut down as a result. Much more volatile and dangerous. Naked shorts are allowed. The real problem emerged in the 1980’s and re-emerged here. Increase margin requirements and crash the longs. At the end the professionals got the rules changed and then shorted. Commodity traders took over Wall Street and that was the end of buy and hold.

Precious metals are heading higher. Martin has been forecasting for a while that silver would rise faster than gold. Gold is over regulated around the world which has kept it down. Impeachment could be the straw that breaks the camels back when we look back in history. Political vendetta that has been staged. It’s been planned for weeks. And now we have the Pelosi wall becoming permanent around the Capitol.

What’s happening now in Britain is a model for the world. No more legitimate elections again. Serious problems. Will Trump be the next Grover Cleveland? Compuuter is show 2022, panic cycle. Not seen since the Great Depression. Breakup 3rd party coming. Republicans and Democrats getting ready to split.

Copper prices will continue to increase. Electrification won’t be successful. The power grid can’t support it. Renewables are not the answer. War on pipelines is happening and people are going to freeze. Maybe that’s what it’s going to take to bring people to their senses.

The pandemic has been used to terrify the populace. Completely crazy. There’s an excuse for everything. The Amish aren’t getting Covid because they don’t watch TV.

Stock markets are making new highs, temporary choppiness. There’s tons of cash and what else is there? Trillions of dollars can’t buy Gold or Silver. Big money is fleeing bond market and heading to the market. Not a question of making money, just getting it back. First target 35000-37000. Dow 65000!

Trillium Gold (sponsor) just announced that continued drilling intersected 16.1 g/t gold (Au) over 3.9m, 124.66 g/t gold (Au) over 0.24m, 49.56 g/t gold (Au) over 0.3m, all with visible gold. This on top of its previously announced bonanza gold grades of up to an astonishing 139 g/t at its 100% owned flagship Newman Todd project in Canada’s premier Red Lake mining district.

The project was only sparsely been drilled or tested at depths below 400 meters. Remarkable potential is present as mineralization remains open along strike and depth, and potentially in postulated parallel features. Gold mineralization has been intersected in over 40% of holes drilled to date. A network of very gold-rich veins have been traced for at least 2.2km along strike.

The recently acquired Gold Centre project is in the highest-grade gold camp in North America. producing over 29.5 million ounces since the early 1900’s, with grades of more than 1/2 ounce per ton. And Trillium has a number of other promising projects in its growing portfolio. 

Excitement is running high, which is why any time Russell isn’t restricted, he’s busy buying shares. He currently owns or has warrants and options on 3 million shares. Management and insiders own 38%, 22% is owned by institutions, and 38% by the public. Russell seeks to be held accountable for his successes and failures. His philosophy is that a shareholder in any company is entitled to that respect. A very refreshing view.

And he has the track record to deliver as he has done it before. After leaving the financial sector, he held executive positions at Cayden Resources and Auryn Resources. As SVP with Cayden, he was instrumental in its sale CAD$205 million to Agnico Eagle. Could there be a similar outcome for Trillium.

And should lightning strike twice, Trillium is extremely well positioned to deliver to its owners. It has plenty of cash available to finance its ambitious drill program and when the results start flowing, considering the tight share structure, just 52.3mm shares (fully diluted), we could see very outsized shareholder gains, which is why we’re shareholders as well.

Six straight days of advancing indexes and today the market gapped up and now has reversed. The Fed has said they’re going to keep the ball rolling. Everyone wants to be right. In terms of fundamentals, Mish sees hopefulness, but has no problem with letting the price dictate. Is it crazy the market is hooked on stimulus. Chatter is dangerous. Eventually all bull markets end with a bust. The also reality is that we’ve got a new crop of individual investors. Stimulus fueled stock prices. Valuations have gotten too high in some areas and not others. 

Lessons from Gamestop, can we still have a free market short squeeze? Robinhooders’ data is the product. Social media revolution brought 10 million people into Gamestop. Mish talks about using this opportunity to make money. There has to be some funadament reasons to look at a stock in the first place. Look at the charts and then place your bet. 

Low risk always leads to low return. High risk can lead to potentially high return or high losses. After 10 years of near constant appreciation, we need to figure out if prices can keep going higher. Never mistake a bull market for genius. The real estate crash will happen in these high tax states and could lead to depressed sales in low tax states. And beware of higher interest rates, they may well be coming. 

Oh wait there is. Tom Hardin, the infamous Tipper X was an up and coming hedge funder in the early 2000's when he found himself wrapped up in an insider trading scandal that saw 85 notable Wall Streeters indicted. Now fast-forward to 2021 and what has really changed. Naked shorting is rampant, despite laws prohibiting the process. However, for some reason, they're seldom enforced. The more things change in the financial markets, the more they stay the same. 

Trilogy Metals (sponsor) is developing a world-class poly-metallic mine in Alaska’s remote Ambler District. Billions of pounds in copper, lead, zinc gold and silver are present. High grades and low costs, combined with a management that has the will to get the job done means a big shareholder payoff. Approval to build a 120 mile project access road was granted by BLM (Bureau of Land Management) back in July. Additional progress is being made. AIDEA (Alaska Industrial Development and Export Authority) signed a Right-of-Way agreement with BLM and the National Park Service, thus clearing another hurdle. 

While this was going on, the Company has been busy developing the district and increasing its reserves in the face of Covid-19. Road engineering and preparation work has continued a pace, so when construction approval is granted, they’ll hit the ground running. With the magnitude of Trilogy’s Copper deposits, the project is very alligned with current political and economic disposition towards an electrified future; one that is highly dependent upon scarce copper. 

With a project of this scale, temporary obstacles are expected. Two lawsuits were commenced by environmental groups claiming various BLM procedural errors. We’ve been following this matter closely and are confident that everything was done to the letter of law. Such litigation happens regularly in a project of this size and should be disposed of in due course. With the firm backing of the state and federal governments, the tribal corporation and various officials on both sides of the aisle, this is a project with major support. As Alaska’s oil revenues diminish, it is looking towards responsible mining to pick up the slack. Legal matters aside, the project is moving ahead swiftly, which is why Tony is extremely optimistic and along with others has been aggressively adding to his position in the Company and that should tell you everything you need to know. 

Website - www.trilogymetals.com 

Tickers - TSX/NYSE-MKT: TMQ 

Dan Pilla’s primary calling is that of tax litigator. He is America’s leader in taxpayer defense, taxpayers’ rights, and IRS abuse prevention and cure. As one of the country’s premiere experts in IRS procedures and general tax financial-problems resolution techniques, he has helped hundreds of thousands of citizens solve personal and business tax problems they believed were hopeless.  He's the author of fifteen books, dozens of research reports, and over a thousand articles. Dan’s work is regularly featured on radio and television, major newspapers, leading magazines and trade publications nationwide. When the IRS comes knocking on your door, Dan is the man!

BIG TECH ANALYST: Andrew Blejde, is a software engineer, big tech analyst, and markets observer.

The power dynamics are shifting on Wall Street. Individual investors are winning big—at least for now—and relishing it.

An eye-popping rally in shares of companies that were once left for dead including GameStop Corp. , AMC Entertainment Holdings Inc. and BlackBerry Ltd. has upended the natural order between hedge-fund investors and those trying their hand at trading from their sofas. While the individuals are rejoicing at newfound riches, the pros are reeling from their losses.

Long-held strategies such as evaluating company fundamentals have gone out the window in favor of momentum. War has broken out between professionals losing billions and the individual investors jeering at them on social media. Meanwhile, the frenzy of activity is stirring regulatory and legal concerns, as well as the attention of the Biden administration. The White House press secretary said on Wednesday that its economic team, including Treasury Secretary Janet Yellen, is monitoring the situation.LINKEDIN: www.linkedin.com/in/andrewblejde/ 
TWITTER: @AndrewBlejde 

Recently a hedge fund Sunvest admitted to making $700 going long on Gamestop GME. They just happened to be shouting from the rooftops what a great company it was, back in September. Did they have anything to do with Reddit Wall Street Bets Board starting a frenzy? Perhaps, but they managed to get out with $700 million while the Redditors if luck broke, most of them. If you really want to understand what happened, watch the hit show Billions. This one is right out of super-duper hedge fund god Bobby Axelrod's portfolio of dirty tricks and criminal pranks.

Covid 19 update. I've been out of the hospital 5 weeks now and am in much better health than before I got the virus. 10 pounds lighter, lower blood pressure, lower blood sugar and my knees feel a whole lot better. I don't recommend the Covid Weight Reduction Program for you out there. There are much easier and safer ways to lose weight than this. However, I'm taking advantage of my experience to focus on my health, keep my weight down, keep carbs low and do intermittent fasting. And I'm feeling great as a result. Weight has continued to stay down. My goal is to get my Hemoglobin A1C - a blood sugar indicator - down to 5.5 within 3 months. A definitely doable goal. 

That's it for now. Stay healthy and sane! Kerry

Things are overheating  -- interest rates rising, broad inflation measures picking up, stocks soaring, gold and silver up. On the other hand employment is stagnant and we might be dropping back into recession...  Emplyment is going down except for people over 60. Food inflation and other measures are taking off too. 30 year is up to 2%. Anticipation of new stimulus coming to a wallet. 

Reddit traders are still out there but are focusing on biotech small caps where wall street isn't as threatened. Small biotechs will get the money and silver. Silver arbitrage, buy bars and melt them into rounds. $10 per ounce profit. 

Regulatory capture or the inmates are running the asylum. 

Tesla buys bitcoin and will start accepting it in payment. First of many corporations to start treating it as money? Bitcoin hit $44k. Bitcoin Tesla arbitrage.

More stimulus is coming down the pike. Markets are frontrunning the upcoming monetary influx. 

Bunch of bubbles bursting at once and now way to fix them all. 

Big things are happening at Fury Gold Mines (sponsor) and the excitement of CEO Michael Timmins and SVP of Exploration Michael Henrichsen is contagious. At the Eau Claire project, Timmins said, “We are very pleased to have hit gold mineralization in our first significant step-out…” The hole was drilled down plunge at 660 meters and yielded 3m of 2.59 g/t, a significant extension. So significant were the results, the team has moved a second drill rig to the site to advance the discovery. Henrichsen is looking to double the project's scale. The next target is even further out and if they achieve similar or better results, we’ll know they’re on to something really major. It’s all part of the 50,000 meter drill program that’s yielding results. 

Fury has three major projects underway, Eau Claire, Homestake Ridge and Committee Bay. Homestake currently has a 25,000 meter drill program underway and Henrichsen believes there's been a game changer there as well. Timmins emphasizes that this degree of optionality is going to pay off big for shareholders. It’s part of a deliberate strategy, which when combined with the world-class team should yield big finds in the not too distant future. When one of projects succeeds, the profit to shareholders will be substantial, if all three are winners, we can only imagine the pay-off. 

Fury’s share price has responded accordingly. Now that the merger/spin-off from Auryn Resources is past and has been fully digested by the market, Timmins believes that the $3.50 share price target is well within reach. And with an exploration team, headed up by Henrichsen, former Newmont structural geologist with many successes under his belt, there’s little doubt that there's more to come. That’s why we own the shares.

Click here for Fury Gold Mines Website

Tickers - NYSE & TSX: FURY 

While there’s ample room for criticizing hedge funds, the practice of naked shorting needs to stop. Gamestop had 140% short interest, that’s 40 percent more shares than existed were actually short. How can this practice be justified and it’s been happening for decades. In addition, hedgefunds often hire PR firms to further drive down the price of the stocks they are shorting. Is this proper? 

Jim says the S&P 500 is heading for a correction and then thank to easy money compliments of the Congress, watch for the rally to happen.

Mother of all Shorts Part Deux. Short bets against the dollar have increased. However, the ECB is looking at weakening the Euro to make their economic programs easier to implement. We’re going to see a rally in the dollar index. How will it affect gold and silver? 

CEO David Suda is gratified to finally see investors looking to the metal sector as a hedge against uncertainty and inflation. We’re in the early innings of a new gold bull market and now we have the Reddit phenomena bringing a whole new generation of investors to precious metals and mining stocks. Gold Terra (sponsor) is an opportunity for them to see the results of what Chairman Gerald Panneton believes is an incredible opportunity. Putting his money where his mouth is he acquired in excess of 5 million shares for his own account. When seeking companies to invest in, we like to buy into companies along side management. 

David explained that the newly acquired Newmont claims haven’t been explored since the 1960’s. The area has an incredible history with over 14 million ounces were mined, in close proximity to the Town of Yellowknife. 5 million came out of the Campbell Shear alone. It took 9 months to close the Newmont Deal, but David is certain that it was time well spent and Newmont agrees. Drilling began on January 20, 2021. They’ve got the money to do it and they’re moving ahead after shaking off the Covid-related delays. Company valuation is extraordinarliy low, when taking into consideration of what lies beneath.

David states that 2020 proved to be a formative year where all the building blocks of success were put into place. As he said, “Tell investors what you’re going to do, raise capital and then go and do it.” This year they’re drilling on a more prolific target, closer to town with great promise. The Company is now going out and doing it what it said it would and that’s exactly why we’re shareholders.  

Website GoldTerraCorp.com

Tickers: TSX.V:YGT  OTC:YGTFF

Early 2021 should see a dollar bottom, which will hold for a year or two. Where will interest rates go? You could see over the next 6-8 months an economic recovery along with commodity inflation. Interest rates could turn up and the dollar with them. Other factors could drive the dollar and rates up along with them. Interest rates set a multi-year bottom in 2020. Oil prices will peak at $60-65 around April/May. This summer for the first time we didn’t see gasoline prices go higher. Now we’re seeing gasoline prices go higher in the winter, another first. Could get back in sync later this year. 

Stock markets to go higher, we’re still in a bullish cycle. March was a major bottom that led to the current bull market till at least May. Right now we’re in a more volatile sideways trading phase or trading range. Once we get to March the next upturn starts. More optimism throughout the world could lead to it. Traders need to remember that the markets are anticipating 3-6 months in advance. An additional surge will bring us later in the year. 

For Gold prices nothing has changed in Eric’s projection since 2016. 2nd quarter of 2021 could see a similar high in metals as well as the stock market. The two go hand-in-hand. There could be a disconnect. Price action in the next 3-5 weeks will confirm the projection. At some point it could cause the stock market to go down, the inflationnary expectations start affecting it. 

We all know the world has become even more insane than usual lately. But how do you stay centered and remain happy while the Western world implodes? This is the challenge of our current world. Aaron and I come up with some ways to handle the meltdown. Number 1 is state management. You are responsible for what you think and whether your thoughts are negative or positive. You need to program yourself to be positive, no matter what the world situation. There are always things to be grateful for and reasons to remain positive. That doesn't mean escape from reality. You're responsible for your thoughts. 

We also discussed Aaron's new book The Book of Numbers: Analyzing the ROI on the Pursuit of Women. It's must reading for young men and women. It will give you a clear way to measure the value of a person you may be pursuing. 

The Redditors are taking on the Wall Street Shorts and people believe they're actually winning. But not so fast. It's a prime example of how people are so manipulated and controlled by media. It leads to bizarre behavior and outcomes. Always look at the fundamentals and understand what you're investing in, both in the market and in life relationships. Bad fundamentals will eventually result in negative outcomes. And there you have it. Media creates illusions and delusions. 

The Fed and other Central Banks are fighting so hard against deflation, it’s obvious that they will do anything to hold off the inevitable. Everyone is piling into a handful of stocks and high yielding debt. Pension funds are underwater. Maybe they’ll fail. The stock market can go down but who knows when. Craig was pushing the #SilverSqueeze on Friday. Physical withdrawal is the only way to deleverage the system. 100 ounces of silver per Reddit Trader is all it took. If they move on because silver becomes boring, they’ll still have their silver. eBay shut down their bullion sellers, why would they do that? Fractional reserve systems are iherently risky. All banks are bankrupt. The pricing system for precious metals is a fractional reserve system. We know in NY and London there’s at least 50 owners for each ounce. You might think you own the metal, but there’s probably 100 other people who think they own it too. As long as there’s no run, the shell game will continue. For large investors there’s a cost to owning gold and silver, storage, insurance transportation, etc. Even a 1% treasury yield looks good. That’s why they go for unallocated accounts. The problem is when the delivery failure occurs. Then it’s all over as the customers line up seeking their metal. SLV just gives you exposure to price, not actual ownership. 34 million ounces on Friday “went” into SLV. That’s 34,000 1,000 ounce bars. How much manpower would it take to deal with that? It’s all promissory notes in the end. Much better to own the physical. People are learning about the rigged system and how it really works. But squeezing the big 4 banks is much harder than squeezing Gamestop and the hedgefunds. Go over to www.TFMetalsReport.com. Get 50% off your first month’s subscription. Use the coupon code LUTZ.

First they came for Gamestop, next AMC and finally silver. Is $1000 silver even possible?

The big guys are allowed to buy and sell but the Robinhooders not so fast.

Robinhood and Melvin Capital get bailed out.

Citadel is Robinhood’s biggest customer for data. Is this kind of front running legal and should it be allowed.

Is the US becoming Venezuela?

Will the stock market keep going up because of major currency inflation?

We answer these questions and more, happy Monday!

Stock markets were mixed for the month: Dow off 2% to 29983, S&P 500 off 1.1%, Nasdaq finished up 1.4%, Russell 2000 still strong at 5%, TSX down .3% TSX.Vup another 5.4% again on cryptos and cannabis (gold stocks were down again). It was truly  VIX boosted to 33.1. Dollar up .6% to 90.5 and Euro down .8% to 121. 10 Year yield rose to 1.1%. Bitcoin went parabolic yet again up 19.2% to a record 34502. Gold off 2.6%  to 1848. Silver went up 2.4% to 26.98. PT up .5%. PD slammed for 7.5% for the month to 2160. Copper up again .7% to $3.54, we'll see what's ahead. WTI up another 7.6% to 52.20 . Brent also up 7.9% to 55.88. Natgas up slightly .8% to 2.56 per mm. Uranium still stuck went below $30 to $29.45. 

Ratios: Au/Ag 68.5 - Pt/Au .56 - Pt/Pd .58 - BRT/WTI 1.07 WT/HH 20.4 and AU/WTI still high at 35.4.

CEO Gianni Kovacevic founded CopperBank Resources Corp. (sponsor) after the 2011 euphoria ended. Gianni is a true visionary and he foresaw the eventual shift from hydrocarbon based energy to electrification. But unlike many visionaries, Gianni was determined to act and profit from his vision. He built CopperBank to maximize shareholder value in the inevitable future copper bull market. He’s been waiting a while, but now it certainly appears that everything is coming up copper. He has put together a world-class portfolio of copper properties in Nevada and Arizona. He was only interested in safe jurisdictions where mining could continue unimpeded.

Gianni besides being a doer is also a major investor in Copperbank. He and his team have been at the forefront of every capital raise. Placements have been at or near the market price. He never issues warrants; he’s determined to minimize shareholder dilution. This is an enlightened view towards shareholder value that more CEO’s should follow.

A couple of key facts about Gianni, he’s a renowned expert on incumbent energy systems and a sought-after strategist in the divestment movement, investing 10’s of thousands of hours of research and experience in the analysis of the natural resource sector. His copper markets expertise has found him on the world-wide lecture circuit and a frequent media guest. His book, My Electrician Drives a Porsche? has sold many copies and is available in multiple languages all over. And not surprisingly, Gianni is a graduate of electrical studies from The British Columbia Institute of Technology. Recently, the stock has appreciated, along with the price of copper, which is now approaching $4 per pound. Once it breaks that resistance point, there’s no telling where it will end up. Which is why we are shareholders of this an amazing opportunity. And if Gianni’s vision of selling off projects and retaining significant royalty interests plays out according to plan, Copperbank could well see outsized future gains.

https://www.copperbankcorp.com/  Tickers - CSE:CBK  --  FWB:9CM  --  OTCQX:CPPKF

Register for the upcoming live webcast (Thurs Feb 11th at 2pm ET) where Gianni Kovacevic will present on the macro fundamentals of the global copper market as well as take specific questions about CopperBank: https://attendee.gotowebinar.com/register/7729160336440286991

Student loans are going to be forgiven, all or part. The market is expected to go up this year. Will the President kill the economy? $15 minimum wage is going hit the economy at its most vulnerable. Raising taxes is also going to put a damper on things. All these policies will slow the economy and hurt the most vulnerable. It’s a proven fact that raising the minimum wage always hurts the people at the bottom. The people making the decisions are clueless as to how businesses work and what’s it’s like to make a payroll.