Income tax 2022-2023 residential rental property introduction. Let's do some wealth preservation with some tax preparation. Most of this information comes from Publication 527 residential rental property, including rental of vacation homes tax year 2022. You can find on the IRS website, irs.gov, irs.gov. Looking at the income tax formula, we're focused on line one income. Remember, in the first half of the income tax formula is in essence an income statement, but just an outline, a scaffolding, other forms and schedules flowing into each of these line items. One of those, the Schedule E for rental property, it being an income statement in and of itself with rental income minus rental expenses, the net rental income in essence flowing into line one income of our income tax formula. Let's start off by thinking about what's new with the rental properties, standard mileage rate for 2022, the standard mileage rate for the cost of operating your car, van pickup or panel truck between January 1st, 2022 to June 30th, 2022 is 58.5 cents per mile. So we'll talk more about the deductions that might be allowable for the rental property. And when we talk about the auto miles, we have that support accounting instruction by clicking the link below, giving you a free month membership to all of the content on our website, broken out by category further broken out by course, each course then organized in a logical, reasonable fashion, making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as Excel practice problems, PDF files and more, like QuickBooks backup files when applicable. So once again, click the link below for a free month membership to our website and all the content on it. The idea of taking the actual deductions or the mileage method and then of course we would expect the mileage method amounts to be changed each year so they can keep in pace with inflation. So the business standard mileage rate for July 1st, 2022 to December 31st, 2022 is 62.5 cents per mile. So they actually kind of broke it up halfway through the year, possibly because of the inflation during the years they had to kind of break it out, which makes it a little bit more confusing to calculate but not too bad. So excess business loss limitation. If you report a loss on line 26, 32, 37 or 39 of your schedule E form 1040, yeah, maybe subject to a business loss limitation. So note when you have rental income, one of the things or any kind of income in general, but rental income here is our focus. Anytime you have a loss, the IRS is skeptical of losses because the IRS wants to be your silent partner, taking a piece of your income but not needing to take on the risk of losses because if you have the loss, you might be able to take that against other income. So whenever we think about rental property, we're always thinking about that situation. What happens when there's a loss? Are there limitations to the loss which we'll get into in future presentations? So the disallowed loss resulting from the limitation will not be reflected on line 26, 32, 37 or 39 of your schedule E. Instead, use form 461 to determine the amount of your excess business loss, which will be included as income on schedule one form 1040 line 8P. Any disallowed loss resulting from this limitation will be treated as a net operating loss that must be carried forward and deducted in a subsequent year. So you can see form 461 and its instructions for details on the excess business loss limitations. Then we've got the section 179 deduction dollar limits. For tax years beginning 2022, the maximum section 179 expense deduction is $1,080,000. This limit is reduced by the amount by which cost of section 179 property placed in service during the tax year exceeds $2,700,000. So 179 has to do with depreciable property and whether or not you might be able to get more depreciation in the first year that you put the property in place. So the general idea with the depreciation is that you have to put it on the books as an asset, not expensing it in the year of purchase, but allocating the cost over its useful life. And then they have these special depreciation and 179 depreciations, which may allow you to take more depreciation in the first year. So we might dive into that more in future presentations. Form 7205 energy efficient commercial building deduction. This new form and its separate instructions are used to claim the IRC 179D deduction for qualifying energy efficient commercial building expenses.  So the amount of any payroll tax credit taken by an employer for the qualified paid sick leave and qualified paid family leave under the family's first Coronavirus Response Act. That's the FFCRA and the American Rescue Act, the ARP. The ARP must be included in income. So that's kind of more of a special situation that obviously came about due to the response with the Coronavirus pandemic. So you can see form 941. It has to do with payroll 941 being the payroll form. So if you have employees, you'll be dealing with W2s, W3s, 941s and so on. And then the question is, does this qualified paid sick leave apply to you in that instance? So again, C form 941, lines 11B, 11D, 13C and 13E and form 944 outlines 8B, 8D, 10D and 10F. You must include the full amount, both the refundable and non-refundable portions of the credit for qualified sick and family leave wages and gross income on line 3 or 4 as applicable for the tax year that includes the last day of any calendar quarter with respect to which a credit is allowed. Note, a credit is available only if the leave was taken after March 31, 2020 and before October 1, 2021 and only after the qualified leave wages and wages and tips were paid, which might under certain circumstances not occur until a quarter after September 30, 2021 including quarters during 2022 accordingly. All lines related to qualified sick and family leave wages remain on the employment tax returns for 2022. Reminders, net investment income tax, the NIIT. You may be subject to the NIIT, the net investment income tax. NIIT is a 3.8% tax on the lesser of net investment income or the excess of modified adjusted gross income. MAGI, basically your AGI, your adjusted gross income with some slight modifications, modified adjusted gross income over the threshold amount. So net investment income may include rental income and other income from passive activities. And this is one of the issues with rental property. One reason we oftentimes report it differently or on another form other than a Schedule C. You might think, why don't we just report the rental property on the Schedule C because it's basically an income statement related to rental property with income minus expenses that rolls into the first page of the Form 1040 ultimately like a Schedule C. That's what the Schedule E is doing as well. But the Schedule E, when we think about the rental property, sometimes we run into this issue of a passive income that could have other tax implications related to it. And we also have possibly some differences with regards to then whether it's going to be subject to self-employment tax. So we'll dive in some of those issues in future presentation. Self-employed tax payments deferred from 2020. If you elect to defer self-employed tax payments from 2020, see how self-employed individuals and household employers repay deferred social security tax for more information about due dates and payment options. This is another unusual item of response to the coronavirus. And we can compare this response to the response they had to an employee, employer type of situation, which I think is useful because this is a common kind of scenario that comes up when the log is basically rolled out. So what they wanted to do was create a scenario where the employers can hold on to their employees longer during this time when they were shutting down businesses, even though their cash flow is, of course, going to be tight during that time. One solution could be, well, maybe we can defer the payroll taxes, paying the payroll taxes later. And anytime some idea like that comes up, what will then happen is people will say, well, what about the self-employed individuals? Because the self-employed individuals have to treat themselves as though there are an employer and employee of themselves. They're subject to social security and Medicare. They should get a similar kind of benefit. So that's a common theme that you will see happen. The law is going to be aimed at the big corporations and then things like the flow-through companies, the partnerships, the sole proprietors are going to be like, okay, wait a second, you're giving them this big benefit, we should have a similar kind of thing happening on the smaller side of things. So in any case, introduction, do you own a second house that you rent out all the time? Do you own a vacation home that you rent out when you or your family isn't using it? These are two common types of residential rental activities discussed in this publication that we're going to go through here. In most cases, all rental income must be reported on your tax return. That's the general rule for income in general. Everything to the IRS is basically income unless there's an exception to it. We have an income tax type of system. That means that income is actually bad, right? Because if you have income, that means you're going to be subject to the income tax on it. What we would like to have is actual income, stuff that we received that the IRS says is exempt from income that we don't have to be paying taxes on. But obviously, if we've got rental income, you would think that the IRS would want their share of the rental income. But there are differences and the expenses you are allowed to deduct and in the way the rental activity is reported on your return. So we can think of a lot of different kind of unusual scenarios with the rental property. And just remember, the rental property can be different than other types of businesses that we might think of. When we think about a Schedule C type of business, we report that on the Schedule C. We've got income minus expenses on it. And then we have to be subject to the self-employment tax, which could be quite significant. And if we have a loss, oftentimes we might be able to offset the loss, for example, against other income. When we have the rental property, we report it on a different schedule oftentimes for a few different reasons. One is that the IRS often thinks of the rental property as more of a passive type of income scenario, as opposed to the Schedule C, which is an active type of business scenario. And there could be tax differences in the treatment for passive type of income. So we'll get in and also there could be different limitations with regards to the losses that could be different than like a Schedule C and the self-employment tax could be a different kind of situation if we're talking about not active income or passive income. So you have a similar structure to a Schedule C. It's going to be an income statement, income minus expenses. But then you've got some of these other concepts that come into play that we need to take into consideration. Okay, Chapter 1, discuss rental for-profit activity in which there is no personal use of the property. This is going to be our breakdown and we'll go through a lot of these items. We might not go through all of the details in our presentations. You can take a look at the publications for more detail, but this is the general breakdown. So it examines some common types of rental income and when each is reported as well as some common types of expenses and which are deductible. Chapter 2 discusses depreciation as it applies to your rental real estate activity. Now, depreciation is going to be huge and oftentimes when people like first think about rental property, they don't really have a concept of depreciation opposed from or apart from like equipment depreciation and stuff rather than the building because they might be dealing with, you know, usually they deal with a home that isn't depreciated because it's personal property. And the fact that we get some deductions for the home or personal or principal residence kind of confuses things further. So the general idea remember for an income tax is if we have an income tax, then we have it would make sense for us to tax basically the net income and therefore you would expect the types of deductions that are legitimate deductions in a natural income tax system would be those deductions that were ordinary and necessary to generate the income so that you would be taxing not the gross income but the net income that would make sense because you had to expend the expenses to get the income and that would mean that personal expenses are usually not deductible under just a natural kind of income tax system. But oftentimes most people are dealing with taxes are dealing with people that have W2 income and the concept with the W2 income is that the employer is the one that's providing all the business expenses in order for the employee to earn the income. Therefore the employee just has income and doesn't really have any kind of expenses. So we don't see those kind of those natural expenses that you would expect to see in an income type tax system. And then the tax code tax on all these other deductions that for whatever political reasons or whatever reasons they put it in there such as what's on the schedule a a lot of the deductions on the schedule a deducting state taxes deducting mortgage interest which is the big one on real estate and property taxes on the real estate. Now those are personal as your personal home. So the question is well why would you get a deduction for real estate and interest on your personal residence. It's unnatural to a normal income tax kind of system because it's on your personal property rather than something that you had to expend in a business setting to kind of generate revenue. So the reasons are a little bit different when you so so then when you move on over to something like the rental income which is structured in a way that makes perfect sense for the most part where you have income from the rental income and expenses that you had to expend in order to generate that income. The net rental income is the amount that you would expect to be taxed on. Now obviously the actual property itself this time not being the principal residence but now being the rental property that the wear and tear or depreciation of the property that's going to be a huge kind of expense. So we've got to be dealing with depreciation of the property and that gets messy also when you're dealing with property that has a personal use and a as well as a business or rental use. OK chapter three covers the reporting of your rental income and deductions including casualties and thefts limitations on losses and claiming the correct amount of depreciation. So that limitation on losses is a big one because oftentimes people will have rental property for a long term investment time to try to generate capital gain and as they're trying to generate capital gain they might be running a loss on it right because the rental and they're not getting a lot of enough rental income to pay for the expenses. And then they're taking so they're taking the losses possibly against other income is what the iris is skeptical of as they are basically holding on to the property which might be not depreciating going down in value but appreciating in value and that's where the iris you know you get you get kind of skeptical with the rental property. In other words if they had a if it was a schedule see business and you're just a service business then your rental income if you had a loss then then you might be able to take the loss against the other income it's not like you have this other objective of the passive property just accumulating when you have the rental property. The long term objective might be that the rental property itself just accumulates upward due to just the value of the property possibly going up and then you have the rental kind of component on it where you're generating revenue or possibly taking losses that you can take against other other income or something like that as the property you know hopefully appreciates in value which is a little bit different scenario which again is a reason why we report oftentimes the rental property and the schedule see and deal with that passive passive income stuff as a schedule E as opposed to a schedule C okay chapter four discusses special rental situations this includes condominium, condominiums, corporatives property changed to rental use so if you had personal use and then you changed it to rental use that becomes difficult because you don't know what the basis of the property is or it's more difficult to know because you didn't just buy the property you converted it renting only part of your property so then you have a situation where now you're renting part of the property so how do you deal that because now you have this mixing of personal and business that you're going to have to break out in some way to properly calculate all this stuff and not for profit rental activity. Chapter five discuss the rules for rental income and expenses when there is also personal use of the dwelling unit such as a vacation home so notice chapter four we saw a situation where you might have like a rental property that's used partly for rental property so you might have you might be living in it for example and have have part of it being rental or something like that and five has another personal use kind of situation where you have like a vacation home the property is not one that's your is your personal residence but you might use it as a vacation home from time to time and then you might also rent it out as well so then now we have this question of well what is that property is it just a second vacation home is it just investment property is it rental property can we take losses on the vacation home you know for as it as a against other income is it you know that kind of stuff comes up so finally chapter six explains how to get tax help from the IRS and you could take we probably won't go into that one in detail but if you want to dive into that you can check out the publication chapter six alright sale or exchange of rental property for information on a figure on how to figure and report any gain or loss from the sale exchange or other dispositions of your rental property see publication five four four so obviously when we're dealing with the rental property we have the situation of trying to account for you know the depreciation on the rental property how are we going to do the schedule e calculations passive income and losses and that kind of stuff and then when you sell the rental property that becomes a big exercise in and of itself because because now you've got to deal with you know the depreciation on the rental property calculating the gain and everything on the rental property so specifically dealing with the sale you could dive into publication five four four sale of main home used as a rental property for information on how to figure and report any gain or loss from the sale or other disposition of your main home that you also used as rental property so this gets you could see publication five two three so now you're selling you had your home you used your home for rental property to some degree and now you're selling it that complicates things because if it was your main home and you didn't have the rental property you might usually get this big exclusion of the game and so that's usually a big tax benefit but if part of the home was used for rental property there could be an impact on the basis of the rental property what's the actual basis of the home now given the fact that part of it was depreciated possibly for rental property and then and then you know thinking about this and make this problem with the business versus personal use of the home and what that does with the possible exclusion for your principal residents alright tax free exchange of rental property occasionally used for personal purposes if you meet certain qualifying use standards you may qualify for a tax free exchange a like kind exchange or section 1031 exchange so the 1031 exchange is kind of an issue in and of itself so you can dive into that one of one piece of rental property you own for a similar piece of rental property even if you have used the rental property for personal purposes so if you're thinking about changing things up then that's when you might think about diving into more the details to qualify for a 1031 exchange so that you basically the general idea is that you can kind of defer the gain the gain rather than selling a rental property realizing a gain because obviously when you're dealing with the rental property if you're saying I'm going to go from this rental property and then I'm going to have another rental property or something like that if you had to sell the rental property and realize the gain you could have a significant amount of gain at that time because you might have held on to that rental property for a long time and because the dollar amount is just large in and of itself which could mean that you have a significant tax consequence and the tax consequence could be you know somewhat you can think kind of like well in any case you could have a significant tax consequence which could make it difficult for transactions to happen where basically you want to go from one rental property and then to another rental it kind of gets you stuck and so the idea would be well if you can have an exchange situation it allows the market to flow more without the taxes because taxes always throw kind of a wrench into the situation so that they can basically defer the gain to some degree given the rules of the 1031 exchange and allocate the basis of the property to the new property that they are selling that they are buying and then realize the gain when they sell the second property so that could be a whole other course in and of itself that we've been thinking about doing we might do at a future time but for now for more information on the qualifying use standards C Revenue Procedure 2008-16 2008-10 IRB 547 for more information on like kind exchanges you can see chapter 1 of publication 544 which you can find on the IRS website so obviously our rental property is a huge topic and so you can dive into other more specialized areas as well so here's some related publications useful items you may want to see publications include 463 Travel Gift and Car Expenses so those are general rules when we get into things that are going to be expenses what kind of expenses are deductible and then we get into some of the confusion related to travel and gift and car expenses 523 Selling Your Home 534 Depreciating Property Placed in Service Before 1987 Publication 535 Business Expenses so the general concept of expenses that will be applied to the rental property are going to be similar to general business expenses that need to be ordinary and necessary Publication 544 Sales and Other Dispositions of Assets Publication 547 Casualty Disaster and Thefts Publication 551 Basis of Assets to help us with our depreciation and possible sales and whatnot Publication 925 Passive Activity and At-Risk Rules remember when we deal with the rental property we might have to deal with those passive activities we might not need to deal with with a standard Schedule C situation Publication 946 How to Depreciate Property and then we have forms you can look at the forms and the instructions related to the forms as another source of reference you can check out from the IRS website Form 461 Excess Business Loss Limitations Form 4562 Depreciation and Amortization Form 5213 Election to Postpone Determination as to whether the presumption applies that an activity is engaged in for profit so is it a profit seeking kind of activity which is a useful tool to be I mean something that you got to basically prove if you're going to be taking in essence you know expenses related to it Form 7205 Energy Efficient Commercial Buildings Deduction Form 8582 Passive Activity Limitations Form 89060 Net Investment Income and of course form or Schedule E Form 1040 Supplemental Income and Loss


Hey guys, Thundee here and welcome to my video on the Poco X3 Pro. Now you guys know Poco does a really good job at bringing in high-inspecting to lower-priced devices. And there's no exception here with the X3 Pro which I have in my hand in this nice blue color. This is rumored to be priced at $320, but I'll give you the exact pricing pinned in the comments below because this was recorded before the press event. Now, this device is really cool. I do like what it brings to the table. Packaging-wise, Poco is very clean and simple. You've got a case in there and you've also got a 33-watt charger and you've got fast charging built into this device. So that's actually very nice and really cool. The other thing also is when you look at this device of a roll, you're getting a lot of features that honestly, you shouldn't be getting at this price point. So you start off with its battery, 5,160 milliamp battery. This is not a 5G device, so you should expect this to last you more than a day, well into the next day with this device. So that's actually very nice. Then it also comes with the Snapdragon 860 processor. Now, I have no stats on this processor because I've tried to use benchmark tools. I've tried to use tools like 3DMark which just doesn't work with it at all. I've tried to use Geek benchmark. It runs and it just stops. So they're not letting me do any benchmark tools yet. So hopefully once this fully launches, I can run some benchmarks for you and give you an idea of what the performance is. But it's a seven nanometer chip. So you can expect it to perform a certain way and we'll get to some gaming in a second here. Display though is nice. 120 Hertz display, 240 touch sensing which is pretty cool. Great for that gaming experience but it's also got stereo speakers and honestly, let us go ahead and take a quick listen. Honestly, that was impressive. That is really nice to have from a device like this.  You're not just getting something that is a cheap hand-me-down in the sense. Now, it comes in this nice blue color says poker at the back. It's got a 48 megapixel sensor. It's got a rear of camera sensors at the back as well, which is cool. And the camera does take some nice, interesting photos. They do do well for its price point. Honestly, I like the photos in daytime. Yes, there's some parts where it was overblown but you can live with that. It's also got a 20 megapixel front-facing camera which does a decent job but as you can see it whitens my skin quite a bit but I'm not going to be too harsh on it because honestly, again, its price point it's pretty solid overall. Okay, so speaking of gaming, looking at a couple of the games on here Call of Duty Mobile, yes, which runs really well on a lot of devices, also performs well on the Poco X3 Pro. The ability to run around, take out people, it does really well. Honestly, it's really smooth. That 120 Hertz 240 touch sampling is a nice way to actually use a budget device like this. Plus the audio, which I'm not cranking up is also really good. We heard the speakers so that's pretty solid as well. Now, what about gaming performance? Pushing to that high end, that's where of course games like Genshin Impact come into play. Now with Genshin Impact, I am playing this game at its highest setting here so you guys can see that it is at 60 FPS. And what do we get in terms of performance? Now, as I mentioned, benchmarks, I'm actually running directly off the device itself using Game Studio. It's giving me about 50 frames per second, about to get into some combat. There is some choppiness, but you can game Genshin around 50 FPS or so with this. It runs fairly well and of course you're gonna get some temperature rises. I think I moved myself to the wrong side of the map with this game. I'm stuck somewhere far away. Take him out, take him out. But yeah, you do get some really good performance overall for what you have here. I was expecting it to be worse, but it does a good job. Now, in terms of immediate temperatures while playing, it heats up a little bit and we're looking at like 108 degrees or so, roughly for this. 107, 108, which is about 42 degrees Celsius. So that's what you're getting in terms of temperatures for this. But performance wise, you can play this quite well. Now, some of you probably be asking, what about PUBG? And just to kind of finish that up, PUBG is one way I'm not going to necessarily show you gameplay, but I'll show you some of the settings. You do have access to your full set of settings for PUBG mobile. And I will tell you that in each of those, it runs as well as to be expected. So if you're playing PUBG and you're playing at Ultra HD Ultra, you're going to be getting about 37 frames per second, which is fine. And if you're playing PUBG at a smooth extreme, you're going to be getting closer to, so Ultra HD Ultra is right here. I have access to that. And you can play at smooth extreme as well. So you have access to all the settings you expect in PUBG mobile. So I think overall, when you look at a device like this, the Poco X3 Pro, you're going to get a lot of value in this device. Now, I think there are a lot of people who look at this and say, yes, this is a great buy. It covers all the things I want to, it's got all the features I need, and it's got the performance that I need it to do. So if you guys want to see more about the Poco X3 Pro, let me know. I'll do some more gaming on the gaming channel, board gamers, so go ahead and check that out. Otherwise, don't forget to like, share, subscribe, and always enjoy entertainment.


The government should please, please, please and please reduce the foil price because it's really going to affect we that don't have a car because we have to spend a lot of money and there's a lot of traffic on the road and so on so the government should please look up to that as well The drivers are really increasing the price of the transportation and it's really affecting us so the government just really need to do something about this just to help the, let me say the youth yeah let me say the youth because we are really suffering it I tend to be emotional in the sense that we all know what is happening we can say a country is producing fuel and there is fuel scarcity why is it that fuel scarcity always come up when elections are drawing near The leaders should just make things easy for everybody to be able to fit in in Nigeria that's just what I gotta say because even without fuel you still see that people still have fuel but others will not have you understand so they should just balance the country it's actually having a kind of a very negative effect on us as an individual honestly I don't know the government policies concerning this policy and why there should be scarcity when there's a fallibility of it and there's a hiking transport so it's a heavy challenge for everyone it touches around the whole sector and it's been a challenge but we are good Nigeria are tough people so they will stick cool initially from CMS to from stadium to CMS used to be 200, now it's 300 we just up it the salary doesn't increase there's nothing but still we just have to do it we're suffering and we're also smiling that's what we are made up of is there a straight YQ now? if there is straight YQ that's why we are here you can hear me here in my radio some people are complaining one guy said he's going to work this morning he went to Awola World Road there's no fuel he went to Mobi Fili Session at the behind body camp no fuel he went to like most of the Fili Session no fuel and he said he wants to know what's inside there's no fuel okay where's the fuel and you have all the fuel why? Fili Session


Good morning folks Steve Rhodes coming to you live from the shores of sunny Delray Beach, Florida. This year 11 am update we got a slightly mixed bag out there right now the mix coming from the Russell which is off 8 points otherwise all of the other US indices are trading to the upside the Dow itself is up 107 points it's about three tenths percent six tenths for the S&P or 25 points one and a quarter percent for the Nasdaq 100 147 points there the summaries are up 29 points that's about one percent trend is are basically flat gold is up two bucks silver's off third one penny likes recruiters off 26 cents natural gas pulling backs off 44 pennies right now trade out of 256 the 30 year treasury up 16 ticks a half a point trade out of 124 11 let's go take a look at what all this means out here by taking a look at that nine panel market update how we begin by take a look at the ES many what the ES many do on Friday one Friday close above the top of its daily profile that's your resistance point those sellers were overrun that was at the 40 30 40 40 level out there well with price above yesterday are Fridays high above the top of the profile what's the ES meeting want to do it wants to continue to move higher we take a look at spotball utilities the only thing concerning about the spotball utilities it has not taken out Fridays low so we have a little bit of a divergence there the ES taking out Fridays high but the ES not taken out Friday so nonetheless price and blow that 50 day exponents moving average that says price should continue to move higher the end queue on Friday did not make it up to the top of its daily profile that's what it's doing right now and a close above 12 408 50 is going to suggest a further move higher now when we go take a look at my intraday charts we're going to see signals that these markets are going to move higher the end you right now is targeted as a swing point the low that swing point which is from February 2nd is at 12501 75 the high so far today 12474 so that's a level that we watch it a price closes inside there with or without volume that's at 12501 75 odds favor price moves up to the top of that profile you take a look at the US dollar index it's consolidated with inside its daily profile does have a TD night out top out there and maybe targeting the bottom of that daily profile 103 84 gold is right now trading even though it's pulling back just a 10 it is really testing old resistance which may become new support and that's the top of its daily profile that's at the 1856 40 level we're in 1856 even Stephen as we speak the case of silver it's trading with inside a bolder structure daily profile typically once prices above the center which at 2083 it makes run to the top that's at 2213 folks they do for the traders that show but if you're off to start your Monday please have a magnificent one thanks for joining us we'll look forward to speaking with you again soon take care now


Welcome to the last set news think of top stories and crypto currency last sets bring it on a bite-sized pieces So first of all before we start let's make sure the audio is good and the video is good things get choppy especially with different places that I'm at so today We are in Houston Sounds like it's pretty good looks like it's pretty good today. We're in Houston One of the rental properties and we're gonna do some other stuff for the weekend to do more demo and things like that for another rental property and Then we'll be back to El Paso and then Puerto Rico eventually, but that that is neither here or there What we really want to talk about today is the market itself and what's happens and what is going on so? It's One of those days. That's what I can tell you and it's one of those things where when you wake up and you look at Your portfolio, it's kind of concerning when you take a look and go wow what the heck just happened We were up so big and then all of a sudden, you know You lose 20% 30% and recently 50% and that's one of those things. We're like wow. This is This is the real deal. So we're gonna talk today about what's going on Why things are happening and the mentality because really if you Investing in things that you get into It doesn't matter how technical you are how smart you are how savvy you are really doesn't matter really what it comes down to is grit determination and the mental outlook that you're gonna have because It doesn't matter all the rest of the rest of the things really just comes down to can you stomach this volatility and can you get through it? I'm gonna tell you why are what I'm doing and why These things are normal. So there's gonna be a lot of things We're gonna talk about and some of these things are not gonna be very pleasant especially for the things I'm about to say as far as like the moon boys and and everybody always so Optimistic and the term foot just really I really want to get into so we'll talk about that in a second. All right We make sure that's a we're good Let me bring up the chat On our Bitcoin use for a heart attack. That's right. Can I get a good morning? Good morning, Nick Good morning greetings from sunny, Australia. SZ. Good day 150,000 coming 2031 now 150,000 is coming this year True it is It's just gonna take some time Never going on the 30k. That's the thing. Who knows who really knows right? It's all guesswork really if you think about it all the Technicles and all the different people can draw on graphs all day long But it really comes down to is it's just a very educated guess and some people are much better at this than others That's all I can tell you Yeah, let's get into it. Let me go here come back here. So let me pull this up So the thing I want to talk to you about real quick is Actually, let's start here Let's see just just how how it is What the market is doing so right now During that 50% dip we were at 1.34 trillion now Well, then we went to 1.74 trillion and it looks like we were on their way to a little bit of recovery and now here we are 1.59 trillion and I'm Relatively sure we're gonna go down even farther. So Bitcoin in 24 hours is down six percent. I think it's more than that there in four everything's in a red Let's just say what it is. Although a little bit of a recovery Bitcoin to 37 Ethereum up a little bit because as things start to go lower people they tend to look at these things and go, you know what I Think that this is a good idea to buy and they'll buy a little bit But then there'll be so much selling pressure That's it'll just go lower and some people will pick it up and some people pick it up That's the whole process of dollar cost averaging and getting in and but I believe it's gonna go even lower and Everybody that's I've seen It guys over there at Market Rebellion CJ and Monty and a lot of other places have talked about how if we if we break below If we can hit 40 things should be pretty good not gonna do that if we go below 35. It's looking pretty a Little bad, and then what if we break below 32? Expect the floor to drop out and that's what I kind of see right happening I think the floor could drop out but again who really knows the big thing you have to ask yourself is Does it really matter in the long run because this is what I want to show you this is the real thing I want to show you I want you to zoom out Really zoom out because the problem within this market is everybody zooms in on today And they really just look into it and they're like well, that's it. You know life is over. This is awful, but Really just take a take a just take a real big step back And I want to take a look at the last Bitcoin run that we had are actually two cycles ago. This is in 2013 and This is from coin gecko coin gecko can only go back so far, but we're gonna go back even farther And what we're looking at here is I want you to remember something and that is let me let me go forward a little bit This is the last bull run in 2017 and what I want you to notice something is this here's the price All the way back in March You're at $411 for Bitcoin and of course the entire market kind of falls Bitcoin Keeps going up a little bit and what I want you to notice is is the price 439 450 500 734 then a little dip and I mean a little dip and we're talking about like, you know 10% 20% success 585 570 572 and it was pretty stable 606 594 a little bit down 638 and pretty much going up and then a thousand dollars and a drop down to 900 So you're looking at 10% drop, okay Then 800 all right 20% okay, and then we keep going up 1190 then we drop down again and then we come up here and then we see these drops from gosh 20 almost 3000 down to 10000 and it wasn't that You still hadn't had drops like 30% 35% somewhere around there, right? And but it was at a very prolonged time frame. We're talking about months This bull run we've seen drops of like 50% in two or three days So I don't really feel like this bull run is what it was like in 2017 I kind of compare it to This bull run here where there was a massive amount of volatility and the thing with volatility is that once you're all over the place There is tremendous downside But there's also a tremendous upside and the people that get to the the upside are only the people that can stomach The volatility and really hang in there and if you can't hang in there I mean We can't hang it can't hang in there That's that's just one of those problems and I'm gonna talk to the especially new people who are just getting in Or have just gotten in in the last six months to eight months. This is important for you So anyhow, so if we take a look back in May This is in 2013. Look at 135. This is Bitcoin 135, right? And then it was at 141, but you have to remember Bitcoin is like a 10 bucks In the beginning of 2013. Actually, let me just go forward Here is 99 bitcoins and it goes back all the way back And we'll show you all the information that you want to know as far as Bitcoin. Look at this this is in 2012 major in July Looking at $13 They're 14 bucks at the very beginning of the year and look at this this huge run up Which is kind of like what we had before and I'll I'll skip back here So you can actually see it huge run up from 13 bucks to 141 bucks That is a massive amount in a very short amount of time, but look at these Enormous swings, right?  Just even more 141 60% something like that, but these huge volatility It leads its way to big upswangs and then you can just take a look here about what happened in 2013 10 13 $14 kind of like in these little and we have to zoom in a little bit to see this now look what happened $1,000 from $10 and that's why that the the first big bull run No one said it would actually come about again. It's like that's that's ridiculous and do I think that? Bitcoin will reach $500,000 or 300 no, I don't think so That's a lot of money to come in in a very short amount of time, but I think that's Bitcoin will go up. I think it'll go up to around 130 to 150,000 And I think that the all to the ones that are going to be the big ones that are going to go But here's the thing this is This is one of the problems that I see right now Let me explain So we had a video yesterday and what we did was we talked about first of all it was just the basic news and Then I just kind of gave you my my opinion about what the market's gonna happen I said I was gonna go sideways for a little bit Then I was gonna dump then I was gonna go sideways for a long time that was just my opinion based on what I've seen and When I made that when I talked about that all I heard on the comments was why are you spreading so much? Why are you spreading fud? Why are you spreading fear uncertainty and doubt and why do you do these things? Why can't you just tell us that everything's gonna be great and okay and put us to bed with the warm glass of milk? Why can't you do that? Because that is a lie That's what it comes down to that is a lie and If you want me to do that well, it's not gonna happen It's just how it is now There's a ton of channels out there where everything is going to explode tomorrow and everything's gonna be fantastic and awesome and it's gonna be great and They don't really get delve into the nitty-gritty of there's some down. There's some downsides to this and I Said that's what it is now in this video.  Have you ever? It just kind of goes without saying but it has to be said unfortunately Which is this you have to have a little bit of pain to get to the pleasure and if you can't do that then life is gonna be very difficult and When I talk about these things and I say hey, these are the different parts that we have to be aware of It is what it is and I have to be honest and I have to say that these are the these the downswings so Please stop saying you know in the comments stop spreading fud now if I'm gonna come out and say you know what I think that The by-demonstration is going to ban all cryptocurrency because I saw it on a reddit post by a guy named Spanky moon That's that is blatantly obvious that it is fud right because I mean who that just seems ridiculous So but if I'm gonna sit here and be like honest and say look We're gonna see something massive volatility. It's gonna go sideways. It's gonna dump and just be ready It prepares people for inevitably what's happens And I think the problem is that as new people come in They only want to hear the very good things and there's a lot of youtube channels That will tell you only the good stuff and it'll tell you that everything's gonna blow up tomorrow And that's fine. And I think those Those channels actually are needed because it kind of brings people in I think more of the channels that Focus on just a little bit more of the other reality of the situation. I think those are the ones that First of all, don't get a lot of clicks Because they don't click bait everybody as as much as they should And or much as they should as much as they as everybody else does and just goes without saying so look It is what it is if you want reality Come here every so often go over to alex massively take take a look at the At the links in the description all those guys down there. They really don't you know Live on hopium 24 7 365. That's really what it comes down to so That's the big thing. That's all and then on top of that I want you to understand something else and that is that like leverage trading and things like that Like I trade a little bit. I trade a little bit, but I'm mostly just a very boring investor dollar cost average and I do that First of all because it's simple and I got a lot of other things going on I don't have time to look at the charts and blah blah and let me tell you something else Everybody is a is a genius. They are a genius during the bull run, right? They're like, oh, I picked this winner. Wow great Or I I picked this one that went up 10x fantastic do that in the bear market. That's the thing and I think The simplest rules Really do win the simplest types of things went and the reason why people can can pull you into their ecosphere and And say well, you need this you need that is because they they they make things More complex than than what they need to be And that suckers you in to where you got to do this type of thing So like I believe in in the most basic of basic things Dollar cost averaging. I believe that news moves the market That's why I'm always talking about trade the chain because they make it here. Look at this Look at this they make it bring that easy, right? You're not looking at a ton of stuff I mean, it's good to know more information. Don't get me wrong, right? But I just click on this projected range and go okay because of the news because of sentiment I'm looking at cover protocol fill in our peppercorn beauty. These are the ones that are going to go up With 90 insurance. That's all I gotta do. It's so it's so simple on top of that if we're talking about simplicity and things like that If I just want to if I just want to invest in dollar cost average, that's great.  That's like bad group thing and here's a prime example So this is kevin oliri. Uh, mr. Wonderful nothing against that guy. He makes a lot of money I hear he's a very nice guy actually Yeah, as opposed to to his persona on shark tank But kevin's got a good formula here and i'm not going to play this because I don't want to get copyrighted But I will link it In the description actually just go over td ameritrade network at tda network. It's on there. It's on their twitter feed And what he talks about here? He's given this interview and he's saying first of all he's been back and forth on bitcoin I'm glad he's here fantastic But what he talked about this interview is he makes things complex and he starts to talk about words about defi He's like the thing with defi Is that it makes things? If you can handle the volatility that you can get yield You can make a lot of money and you can make a lot of money doing these things and defi And defi and yield makes you a great amount of investment and you can do a lot of great things So with defi, that's what you need to do and people watching this who are not in here are like What the hell are you talking about and what he does the very end is very slick He goes and what i'm going to do is i'm going to make this very simple for you I'm going to put together my own app and make it very easy for people to make And uh really do well in this industry with defi and yield and liquidity providing and blah blah blah and I was like that sounds good Makes things complex To bring people in That's how it works Makes sense So when you're out there and you're looking at things you're like wow Things are just so so crazy and what should I do and then you see if people are like well if you need this you need that This is not a popular opinion and this is why This is why my channel. I guess is the way it is because uh, I just don't I just I god dang. I just don't get it like it's it's it's a very simple thing and uh Which leads me to one of my last points and then we'll get out of here. This is why i'm calm Why i'm calm is because of this And if you've ever seen this meme, it's uh the ballad of buster shrug. I think I think the movie is that's james franco And when I first got in This meme was around in 2017, but there was a there was a uh Uh, there was a year right here on franco's head that said 2013 investors and then over here 2013 investors And then right here this guy who's crying It had 2017 investors And I thought it was I'm like, I don't I don't get it. It's not that funny to me now I think it's funny because lately it's been 2017 investors 2013 investors 2021 investors and the reason why i'm so calm is because I realized that Uh time in the market is better than timing the market learn that from uh, my man, uh, when mullet and it makes sense because The reason why a lot of the people on youtube that you see who are not freaking the f out Is because they've been they've had so much time in the market I mean this channel is only a little bit over a year old But i've been dollar cross averaging since 2017 you have to understand that So when people they get kind of down themselves like dammit Why can't I make as much money as x or why can't why am I not so calm because I just lost 50% of my portfolio because of why it's because people like me and people throughout the whole youtube verse are not new to this game and For us to really lose our shirts um It would have to go down tremendously like for me Average cost of bitcoin would probably be around six grand That's the truth and it's something that people don't really talk about it's because and I I talk about these things but people just don't hear me. So I need you to hear me and understand what I'm talking about I was some of these four-year cycles right if you were back here in 2010 investing you have no problems whatsoever Unless you invest in something crazy Like a lot of those coins that are out there, but a lot of times if you spread things around dollar cost average You do pretty well. Here's another another four-year cycle 2016 and 2019 and I talk about this all the time But here's the let me go back Here's where all the money is made in my opinion in my humble opinion It's all made right here when things are flat and boring as hell That's really what it comes down to and that's where I accumulated a ton of it and um That's where a lot of people have done things I don't think there's a lot of people out there that have made a boatload boatload boatload of money in In trading. I think some have I think actually, you know, some have and they talk about a whole thing long but to me it's kind of like I personally believe Personally believe that a lot of these people who are talking about how great their trades are They're also investors. You have to understand that too. I don't think they say that enough But that's just my personal pain and I know Like even the guys that market rebellion even cj and monti. I know those guys are investors. They we talk about all the time Uh and those guys are also fantastic traders It's one of the few people that I actually listened to because when I first got into it I called uh, I called ta astrology. I don't believe any of them. They're all bunch of just filthy lotters but uh cj and monti are the few ones and some of the people on youtube I actually Have respect for because they actually make a lot of sense and they're usually and they're right but uh again Just because the trading's out there doesn't mean that's the only way and I think it's Very few people make a lot of money, especially leverage traders and I know people talk about Oh, you know what? I just made a ton of money on this. I'm just leverage trade. Oh, yeah Well, how'd the other two leverage trades do? Oh, I lost my shirt But this one doing great and it's just like when I lived in vegas for a couple years I was like pete. How things going? Oh, man. I crushed it last night in the tournament. Oh, yeah, jamaica Yeah, i'm like five grand How are you up for the year? Oh, no, i'm down like 30 000 But shoo last night I crushed it and that's all you really think about that's all you really hear about so again, uh people on on uh the youtube and the twitter Just make sure that if they're they're talking about how great they've done just ask them How long you've been in this game? How long you've been doing this and then uh, where do you make your money? Mostly is it investments? Is it endorsements? What's else is going on? You have to understand That's really the whole thing. So don't get down yourself because you're like I didn't make as much money as these other guys. They've been in them for a long time They've been in for a long time. So if you're new to this game If you're new to krypton islas, I need you to understand that I'm in time in the market is better than timing and If you're worried about it right now Because I still think it's a pretty good time. I still think In 2021 and we're seeing these massive dips. I don't know what's going to happen, but I truly believe That there is too much momentum on certain sides of institutions I do believe that there's still massive manipulation of wales Moving the market because they can get their friends back in because they can buy up at a low and they want to shake people out I don't really care about that because the same thing that I've been doing Over the last four years the same thing I did this morning. You know, my buyers were It was a hundred dollars of voyager. It was a hundred dollars of cardano It was a hundred dollars of bitcoin and it was a hunt. Hey, geez. No, no, it wasn't 100 It was 50. I think 25 or 50 and then it was 25 of ethereum It's the same thing every day and it sounds boring and it sounds trite And no one really cares because like well, that's not sexy. Well, you know what sexy the portfolio that you get at the very end that's with sexy so again If you're worried about like shoot, I missed these big opportunities You can look at that way. You can go invest in what you want This is a financial opinion not financial advice and you can do all the things you want to do but If you're worried about like I need to get rich this year I don't think that's the right mentality. I think it is and I had that man. I had that mentality in 2017 I was like, I'm going all in. I'm going all in and I'm going big and I went in all in and right around here like I always talk about that thought was going to be rich because I'm like Well, this this technology will definitely make it. They only make sense to me, right? We can unbank ourselves We can we can get away from that financial infrastructure that we've been slaves to and Bitcoin is going to a million just like uh, john mccaffey said so I don't see what the problem is And it it still holds true The technology is good The process is good The only thing you have to worry about is timing is time I can tell you that things are going to go up very far The market is going to do very well. I just can't tell you when that time Exactly is but if we just zoom out and see what has been happening over the last years 2013 when when bitcoin was five dollars and fourteen dollars and there wasn't even a market To the next one when we jumped up all the way to twenty thousand bitcoin We had gosh, uh, ethereum was a thousand fourteen hundred dollars and everybody was losing their mind xrp. It was like three dollars and 48 cents and like that It was the top three and then you know now even even this year where we're at and we're and we're down pretty I mean, we're not down for the year. I mean, we've we've hit all time highs We were just down a a lot from what we were at before but it's still rebounds So the next piece of the puzzle is if you don't like what you see right now just wait um I mean, I take a look at at the stock market. I like I don't understand The whole thing about that you I mean you'll have stocks that kind of bounce around in that same level for a long time for like, you know Six years seven years And you don't really make too much or then you just you know takes a dump Uh for here in the markets, I mean, we've only gone. I mean, we're still very early. I think and that's why I still believe in it and uh, again, if you don't like The timing everything else Just hang for a bit because there's another massive bull run coming right around the corner and again This is the time When everybody makes this is the time when I make a ton of money and if you're a trader love a trader great have fun Uh, but for me, I was excited when I feel like this is going to be Uh, you know a dump and we're gonna trade sideways for a while because guess what I'll be doing the exact same thing I've done before and it's uh done me pretty well and that's about it All right, so that was a lot, uh Hopefully that made sense and it wasn't too too bad, but I will finish up with this. This is why I'm calm I'm calm because I know I take diddy's advice. I just I just kind of zoom out And I just look at what's going on and just say well It doesn't really because if I just keep the same game plan It's it's almost impossible to lose for me Because I know that I'm just going to the same things repetitive there are massive opportunities and just um, the basics And that's what I do. So I know people make it complex. I just don't understand why they do that And that's that so hopefully that answered some questions. Let's get in the chats and see, uh How the heat goes All right, so yeah, I was a little bit tough on the beef. I know Pretty tough on the beaver last night. Yeah, but I'm getting too really tired of Of people making things so damn complex and not being honest with everybody And that's that's the thing that gets me because I need you guys to be around for a while I need you guys to be around this market for a while because there's there's big opportunities and I saw it in 2017 when I try to when I got all my friends in I couldn't I couldn't articulate the things that were going on And I didn't understand the whole dumping pattern and the four-year cycles and they were all they all left They all left except for my friend George And uh, I told him I go I'm just gonna dollar cost average if you keep doing I think you know, it'll work itself out like Whatever Rob. We're out of here And uh, now me and George are doing pretty good honestly But the other ones are like should I get in now? I'm like she kind of missed the opportunity I mean you can get into some other lower caps.  No, like I said before, I Swearly believe that these uh, there's whales and mark manipulators. There's just so many people getting into this space I mean, let's keep it Kevin O'Leary Kevin O'Leary is even here and uh I mean Tom Brady for Pete sakes is talking about and there's a lot of people coming in I just think that This this market is so tumultuous Because people are so scared of different things that are going on like I don't know I don't know and it just like anything shakes them.  It's gonna head tomorrow.  That's all I can say. Hold on real quick I'm back That's it. Uh so Cryptomania is over Carlos it's It depends on how you say it's crypto mania over for today Uh, I guess it's it's how you see it like me personally I think crypto has an incredibly bright future. Do you not think that even in in the defi space that we're not going to need some type of Decentralized finance or some digital id or some telecommunications that we can do in different countries that are underserved and underbanked Are you out of your mind? That's why I'm so big in it's a cardinal because they are going into those areas Speaking of which I've already interviewed three of the cardinal ecosystems that are being built on cardano And I will be putting those out this week so no Fiba Inu and look Jesus Christmas Fiba Inu and dogecoin I'm just gonna tell you right now. I have no I love the the the community and the passion the project is junk And uh, I just don't I mean if you want to invest into it, that's great But look at the fundamentals look at the team behind it Look at the utility and go from there. I'm tired of talking about that And I don't care if you if you say like, oh, it's going to the moon or the rails it might I think it's just bad overall for the entire market. There. I said it. What are you gonna do? All right Our last minute was a start up but can we'll have a week summer? Yes. I believe that for a while We're gonna trade sideways just like I talked about Sniff. Hey, sir. Are you traveling east? Ah, gosh, where am I? I'm in houston now. I'm traveling west And then I travel way far east. It'll be later Bear some right? Yeah. Yeah, nick. Hey nick It's early today. Yes. It is early today. I need to get things done because We need to do some things here that on this investment pro on one of our houses and get over to Our new investment property because we're doing demo today. So I have to do that P Pena says thoughts on the Jiro wallet If you don't know what the I think it's Jiro or Yiro That's the one for the Cardano ecosystem, correct? One with the stag If you're looking at teams that's the most stacked team I've ever seen in my life And I'd love to interview those guys and I think that's gonna be huge. So Look at that one again Fundamentals, but does it do something? What are the team? How good are they? What are they? What's actually happening? Ah, what's your top three coins and not dogecoin and shiba inu. I'll tell you that right now What am I top three? Let's see tomato coin it's uh First it depends on your goals your goals are not my goals If you want stability and if you want the safest bet out of all the cryptos, it's bitcoin and ethereum right now Even though people say, ah, this gas fees and blah blah blah doesn't matter people don't even understand gaseous people who are outside like like Uh, kevin oliri, they don't remember they don't really they understand if they don't understand it They're just there to make money. So if we're talking about the longevity people just hear ethereum world computer defy That's all they know.  That's it. Who will win in the in the in the end? I don't care. Uh, I don't care if it's cardano or if it's ethereum. That's why I hold both And I think that cardano versus ethereum is kind of like bill gates and steve jobs back in the 80s and 90s And uh, that's good for the market because when you have that type of friction That's what makes things uh pop off because it'll push you to greater heights just like in sports And that's it. All right, everybody. That was it. So Just as a recap, here's what I talked about Rapid fire as best I can Let me get rid of this trap, okay There are points that we're supposed to supposed to uh hit and I think we're falling through those So if it falls down or it or if it goes flat It doesn't really matter so much to me, but it's going to matter to a lot of people and that's what concerns me Uh, so look at these levels. This is what I get from the guys at market rebellion cj and monti 40 we need to hit 40 and go above that I don't think it's going to happen over the weekend because we're going to have low volume because there is a memorial Um, it's memorial day weekend, uh for the united states. Those are for all the uh the fallen People who have defended this great country and fallen in wars. Uh, you are remembered. Thank you to all my veterans out there Who fell not veterans day of memorial day a little bit different and There's going to be low volume. So We're not going to see too much if anything we see sideways if anything and I don't think we're going to go up I don't I don't see how that could possibly happen unless Who knows apple comes out and it's like, hey, we're buying everything in bitcoin. That's not happen So, uh, look for that and uh, I talked about how it doesn't I feel like this is more like 2013 because we saw massive massive dumps Uh in 2013 because it was extreme volatility, but because that extreme volatility went up, uh massively Now as opposed to like 2017 which was pretty much a straight shot with 20 30 or so But in 2014 or 2013 we saw like dips of like 50 that's just one of those things Also, I talked about let's stop using the thing but and just uh, just get real and uh realize that there are some Some lows with some highs. So if I'm going to talk about The problems that are in the market just realize that there's a problem in the market. I'm not just getting this from some Reddit posts from nobody Uh, you know janitor steve from diluth Who says that, uh, you know, joe biden's gonna Yeah destroy all bitcoin We have to understand that the market does go down and if you want to find the it's going to explode It's going to go on to go forever. There's tons of channels like that And that's why they get all the clicks because they have nothing but clickbait And they keep doing these stupid videos that just talk about how great it is And there's a there's a market for that not saying that they're wrong Just saying that hey if you want to do those types of things Find those all day long, but just realize that when days like this come Set in some reality. That's about it I talked about kevin alleri and how people make things a little bit more complex and what they need to be and uh good for him That's all i'm gonna say and then just remember that when in doubt zoom out like my man did he says Yeah, we have some bad some bad days ahead of us Maybe some sideways action, but uh again, this is first of all If you if you haven't been dollar cost averaging or getting in at the right points Maybe this isn't the time for you. Sorry tough love. That's what it is And I wish someone I wish someone would have told me that in 2017 like hey, you know what? Uh, you can't Uh get rich overnight It's rare it can happen you can buy a lottery ticket you can get in a dogecoin at the exact right time But is that going to be uh reproducible for millions of people? No it is not So I wish someone would have said look uh in 2017 once this bull run hits And you know the john mccaffees of a million dollar bitcoin could have gone away. I'm glad he's out of the space and uh You know just realize that hey You have to put the work in somebody everybody thinks that it's super easy To you know like just be a millionaire in cryptocurrency. Oh, you just that's so easy It's not easy like today is like today. This is where the hard part comes in This is where you have to really mentally focus and in the very beginning. It's like I said It doesn't matter the technicals or how savvy or how smart you are It does not matter. You have to have the right mental state As an investor and move forward because if you don't And you just say i'm out, you know because of this or that then He just you didn't get it. You didn't get it. I didn't do my job. I'm sorry and uh, just remember that uh Money's really made for me when it's boring and if you're a trader have great I trade a little bit myself. I'm just not gonna do 50 and 100x level trading. I think that's just insane And that's all so if you you're not gonna make it You know to be a multi-billionaire in this cycle. Don't worry. Just keep uh, just look at the opportunities that are out there There's tons of them out there And just pick your spots and that's all all right, so that's it for today I got to get out of here, but uh, thanks for watching.  Why can't I do this? Why can I do that? It's because With time in You can do anything and like I said like my price points Like if bitcoin went to below six thousand, I'd probably stop sorry. We're in because that's my price point bitcoin six thousand Ethereum hundred and thirty dollars uh xrp I bought pretty high on that one cardano Ten cents, you know eight cents something like that So just remember we've been in here for a long time and don't let people fool you They just don't tell you that they do they're gonna tell you something different. That's it. All right Have a good one. Appreciate it. Everybody calm down


The DuPont Company of Wilmington, Delaware, makers of better things for better living through chemistry, presents the Cavalcade of America, starring Lee Bowman. Sound the Great Bell, a special broadcast of the DuPont Cavalcade of America, starring Lee Bowman as Thomas Jefferson, with Susan Douglas as Mistress Grafe. This is the actual sound of the Liberty Bell. Today the principles for which it stands have become magnified. 1776 to 1951. 175 years of a sound of freedom. Tomorrow, on the 4th of July, by presidential proclamation, we rededicate ourselves to the principles of the Declaration of Independence. Our story begins 175 years ago. A young man stands outside a Philadelphia house. From the window I guessed him to be a handsome man. You could see he was tall and very straight. It was May the 23rd in the year of our Lord, 1776. Well, then there is someone at home. There is me, sir. Do you generally take so long a time to answer your door? It is the new door of a new house and wild things are happening in Philadelphia. Not only in Philadelphia, in the whole world. That is why I keep my door closed. You are very wise. Tell me, is this the house of Mr. Jacob Grafe? It is, sir. I am Mistress Grafe. I'm told you have lodgings for rent. On the second floor, a parlor and a bedroom. Would you like to see it? Thank you. I wouldn't. Your house is very clean. I work hard to make it so. Oh, I must tell you that the rent is 35 shillings a week. Oh, that's rather high. Perhaps. These are the rooms.  Thank you. This will do me very well. I am informed that your husband is a good patriot. Oh, yes. My family and my husband's family came to Pennsylvania because Europe was full of kings like George III. Good enough. One further question. Have you any children? Oh, there is a little boy of two. He will not disturb you, I promise. That's fine. Then I shall be able to work without hindrance. May I ask what work you do? That's not easy to answer. When I was younger, I studied for the law. Ah, then you are a lawyer? No, I've virtually abandoned the law. Then you are a public speaker? Madam, I am frightened to speak at public gatherings. I never open my mouth. If you are no lawyer, no speaker, what are you? I wonder. If you must give me an occupation, call me a philosopher. At any rate, that's what I should like to be. My husband and I will be honored. What will you be philosophizing in my house? Do you know, Madam, I haven't the slightest idea. You haven't told me your name. My name is Thomas Jefferson. I blushed.  Thomas Jefferson, a leader of the Second Continental Congress, the friend of Benjamin Franklin. Why, in the streets of Philadelphia, even the little children shouted his name. Yet he had come to my house and taken lodgings and spoken to me. And I had answered as though he were any stranger. In the weeks that followed, nearly all the great leaders of the American colonies came to my house. John Dickinson came. He came to plead. Jefferson, I have information that tomorrow the Congress will receive a Virginia resolution declaring that the United Colonies are free and independent states. Your information is correct. That resolution will be offered by Richard Henry Lee. That is also correct. You must stop him. No. Why should I? I believe in the resolution. Then you believe in a lie. We must conciliate, not separate. We must dissolve our political connections with the British crown. Tell a growing infant to dissolve its connection with its mother. Tell the young son to disown the father. Jefferson, are you blind? We are Englishmen. Mr. Grave. You call me? For just a moment, madam. Is something wrong, Mr. Jefferson? No, no, nothing is wrong. Mr. Grave, where were you born? In Germany.  No, sir. I am an American. We are all of us Americans. Mr. Dickinson, a search see, is an Englishman. Mr. Dickinson must be fooling. He is an American. Madam, what is an American? Mr. Dickinson makes fun of me. Not true, madam. If it has meaning for you, tell me. I want to know. How can I tell you? I'm not like Mr. Jefferson. I have not read the books. There are no books. The flesh, the slate is clean. Answer, my friend. If you are an American, what are you? I... I am myself. I'm not where I came from. I'm not who my father was. I am what I am now. Well, Dickinson. An excellent performance. It should improve with more rehearsal. When Mr. Jefferson has time, he explains things to me. Is that wrong? Forgive me. It is very good that he teaches you. But, Jefferson, what are you teaching? The facts. For 16 years, George III has been ruler over us. He has taxed us while sacrificing our interests. What you say is true. Sometimes a father can be foolish. This father has suspended our legislatures and all our charters deprived us of trial by jury and sent his mercenaries to shoot us down. He chastises us as a father chastises a child. He strangles us, Dickinson. He places the noose around our necks. He gives us no alternative but resistance. Jefferson, I have not come here to debate. I ask you man to man as a friend, as a person whom I know to despise the tricks and the ways of demagogues. Jefferson, wait a little longer. The king will be informed that he has acted injudiciously. Oh? Informed by whom? By the king's privy counselors. Sir, has he listened to them before? Dickinson, give me a reason why he should listen now. Wait, Jefferson, wait. There is still time for reconciliation. Not anymore. This, this is the time to take a stand. Tomorrow I shall speak against the Virginia resolution. I shall listen, respectfully. This thing is by no means unanimous. Pennsylvania, Maryland, New York, Delaware, South Carolina, they're against you, Jefferson. Tomorrow we shall be united. On this issue, never. Good day, Mistress Grafe. May I offer you a cup of chocolate? Thank you, madam, but I must be gone. As it is, I have stayed too long. I studied the face of Thomas Jefferson as he watched his friend grow. And suddenly it came over me that more than political ties were being torn apart. Friends were tearing their hearts apart, pleading with each other. So much with their tongues as with their souls. On the seventh day of June, 1776, the Virginia delegation to the Second Continental Congress offered a resolution urging the independence of the American colonies. Mr. Chairman, I rise to speak against the resolution. The chair recognizes Mr. Dickinson of Pennsylvania. It seems that we in the colonies are of three minds. Tories and there are none here. Thank God. Those who stand for reconciliation and there are many such here. Not too many. And those like my friends Franklin and John Adams and Tom Jefferson who stand for a severing of all political ties. We're in the majority. I will not concede majority, Mr. Adams. In any case, we are a divided people and war which may still be avoided through a reconciliation with the Crown may not be avoided if you vote this resolution. What is urged here is an irrevocable step, as irrevocable and as final as death. I ask no delegate to betray his conscience, but I have the duty to ask that you consider the consequences of your actions. A great debate of June the 7th, 1776. For two days it continued almost without an interruption. On June 10th, the chair announced a ruling. This debate is declared suspended for three weeks. Mr. Chairman, the chair requests that there be order. Mr. Chairman, delegates, in the event of a successful issue to this debate, a declaration of independence should be ready and on hand for public proclamation. I propose, therefore, the election of a committee to draw up such a declaration. The committee was elected. Adams, Franklin, Livingston, Sherman, Jefferson. It was decided that Mr. Jefferson would prepare a first draft. I brought him ink, paper, quills, and in my house, Mr. Thomas Jefferson of Virginia began to compose a declaration of independence. Come in. Forgive me for interrupting you. Oh, Livingston, come in, come in. Thank you. Is the committee to meet here? No. I felt it my duty, however, as a member of the committee to apprise you of my views. Well, do sit down. Thank you, but I shan't stay long. Jefferson, I can't place my signature on your declaration. No one can. It isn't written. Oh, you know what I mean. When it is written, I shan't be able to sign it. Oh, why not? I have no authority to sign anything.  I cannot commit myself until I receive the authorization of the New York Convention. Why not? Because any signature from me would be illegal. You've been duly elected to this committee? Without instructions from the citizens of New York Colony. Livingston, they're asking you to lead them. No, sir. I am delegated to reflect their opinions and their beliefs. I put it to you bluntly. Are you for independence? New York is not for independence. You, Robert Livingston, forget New York. I am not permitted to forget New York. I must await instructions. Meanwhile, New York hesitates. Therefore, I must hesitate. John Dickinson wasn't boasting when he said he was not alone. What if Dickinson is right? My opinion is that he's wrong. But what if he is right and you're wrong? Independence is inevitable. Independence is necessary, but there are wise men who think this is not the time. Convince me. Persuade me. Jefferson, this declaration means war. There is war now. We cannot fight it. Again, I ask you, why not? Because we are divided. We will fight better because we are divided. No, you make no sense now. There can be no victory without absolute and utter unity. While men are alive, there can be no absolute and utter unity. Livingston, a little disunity is a healthy thing. What are you saying? I am saying that differences do not upset me. Well, they upset me. Oh, not me. I like difference. I prefer it. We're free men, different, like the American colonies, bickering, jealous, suspicious, argumentative. By the Lord Livingston, we're a healthy people. And we don't conform. And that's why this declaration is going to be written. You are listening to the Cavalcade of America starring Lee Bowman, sponsored by the DuPont Company of Wilmington, Delaware, makers of better things for better living through chemistry. Thomas Jefferson, like other early American statesmen, recognized that a strong democracy requires a strong economy. He knew that America must have its own industry, free from dependence on the production of other nations. With that in mind, he encouraged many early industrial pioneers. Among them, Elotair Irine DuPont, founder of the DuPont Company. American industry has had a vital part in the nation's march to greatness. To this progress, the DuPont Company has contributed its better things for better living through chemistry. The DuPont Cavalcade continues starring Lee Bowman as Thomas Jefferson with Susan Douglas as Mistress Green. In June 1776 in Philadelphia, Thomas Jefferson sat at a desk in my house. And there he wrote a declaration of independence for the American colonies. But the Second Continental Congress was divided, and even his own friends like John Dickinson argued with him. Dickinson, you may pace up and down if you wish, but you do make me quite dizzy. I'm sorry, Jefferson. I'm sorry. You? To see you look so pale. I don't sleep very well. Yeah, my fault? Yes, but the fault is everywhere. It is in our times. You're right. Oh, Jefferson, why couldn't we have been born a hundred years earlier when the world was more at peace when a man didn't have to make a choice? The only people who don't have to make a choice are slaves. Perhaps they're the lucky ones. Now, by that logic, the dead are even luckier. But you didn't come here just to make conversation. You're right. Jefferson, I am a melancholy messenger. Your blasted Virginia resolution is going to pass. Oh, how do you know? There's been no vote. I've gone from delegation to delegation. Listening, overhearing. I've been shameless. But I know which way they will vote. Oh? May God help them. May He help us.  I'd hurt you, Dickinson. It chokes me. I will ring for Mr. Grape some refreshments. No, listen to me.  But the British Crown, that is something else again. I agree with you. Then why break? We're young, weak, immature. We need the protection of the British Crown. In order to stay young and weak and immature? Dickinson, have you ever seen a child protected at every turn shielded from all harm, guarded against all perils? Have you seen such children? I suppose I have. They always remain children. Yes. Beware we do not remain children. What do you mean? I mean no more protection. We want responsibility. It's the same as freedom. Peril is the same as freedom. Risk. Taking chances. To be on one's own.  No king, no party, no governor. Dickinson, mock me if you will. But this is a struggle for the right to be a little insecure. Jefferson, I shall not vote with you. I despise a unanimous vote. But I shall not vote against you.  On Thursday the 27th of June, 1776, I carried a message from Mr. Thomas Jefferson to Mr. Benjamin Franklin. Oh, Mr. Grafe, come in, come in. Is Jefferson ready to show us his declaration? He is, Mr. Franklin. Has Mr. Adams been informed? Oh, yes, sir. Good, good. Where shall the committee meet? Oh, say to Mr. Jefferson that a god of righteousness is punishing me for past sins, and that I fret here, disabled by gout and remorse. You are quite handsome, Mr. Grafe. My eyes are partial to pretty flowers and handsome women. You wish, Mr. Jefferson, and Mr. Adams to meet with you here. And you are also intelligent. Here, here, here, what are you doing? Kissing you. Oh, shame on you, kissing an old, defenseless man. That was rather nice. But don't you think I deserve an explanation? Well, Mr. Jefferson has resided in my house and now I have kissed Benjamin Franklin. I shall be immortal. Immortality is not quite so easy, my dear. Raise a family of nine children. That's immortality. Gentlemen, you're taking a very long time. My dear Jefferson, you've written a very long document. I'm done. You, Adams? I have read it. Well, it's good. Did you have any doubt? Thank you, Mr. Franklin. A small suggestion. Of course, sir. Here, in this first paragraph, you've put down eight people. You mean one people. It's a good suggestion. Thank you, sir. Mr. Adams? The paragraph which follows, we hold these truths to be sacred and undeniable. Now, why not we hold these truths to be self-evident? Yes, yes, that's very much better, Adams. I'm afraid there must be many words and phrases that should be changed. I have no fear, Jefferson, whether they should be changed or not. Congress will change them. But so far as John Adams and I are concerned, you've written a document that can stand. On the 1st of July, 1776, the Continental Congress resolved itself into a committee of the whole to resume consideration of the Virginia resolution and independence. Result? That these United Colonies are, and of right ought to be, free and independent states. That they are absolved from all allegiance to the British Crown, and that all political connections between them and the state of Great Britain is and ought to be totally resolved. July 2nd, 1776, not July 4th, July 2nd, the Chairman of the Second Continental Congress announced the vote on the Virginia resolution. The resolution is carried. 12 colonies in favor, one abstaining. July 4th, after debate, argument and revision, the Congress of the United States passed a declaration of independence. I scrubbed my face clean and I put on my Sunday bonnet. Where are you going, Mr. Scrape? To Congress. So do you suppose they'll let you in? Then I shall stand outside. Here, Thomas Jefferson read his declaration of independence. Oh, no, no, I shall not read it, my dear. I am no orator. Oh. You are disappointed? Thomas Jefferson should read Thomas Jefferson's declaration. It isn't right that anyone else should read it for you. You and only you must read it.  What?  Now, sit down. Yes, sir. Now, I shall not read it to Congress, but I shall read it to you. When, when in the course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another? He read the words to me. A gentleman from Virginia reading his immortal paragraphs. He read simply. He was no orator. Nor did he wish to be. He was strong for he knew that the truth can stand by itself. And listening to him, I knew that a statement of truth, a way of life that the world had never known before, had been conceived and set forth in my house.  Not in me, nor in my children, nor in my children's children. It will be unto all my generations and unto yours. We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty, and the pursuit of happiness. That to secure these rights, governments are instituted among men, thriving their just powers from the consent of men. And 75 years ago, in Philadelphia, when Mr. Jefferson's declaration was read aloud to the people, I heard the sound of the great bell. And tomorrow again, in Philadelphia, and in your villages and towns and cities, other bells will ring out, making a long sound, a wide-flowing sound. American men and American women and American children will stand in an act of rededication, saluting a flag of faith, a declaration of the undying human spirit. With a firm reliance on the protection of divine providence, we mutually pledge to each other our lives, our fortunes, and our sacred honor. Ladies and gentlemen, Susan Douglas and the Cavalcade players for tonight's DuPont Story sound the great bell. And now, Bill Hamilton speaking for the DuPont Company. If you have a pencil handy, write your name, look at it a moment, then close your eyes. Imagine that your signature is among 56 others at the bottom of an impressive-looking document, yellowed now with age. Some of the signatures are bold and large. Some are neat and careful. Imagine that your name is just below that of a gentleman who signed with a flourish, Benjamin Franklin, just above the impressive signature, John Hancock. Or beside that of the man who set down these beliefs of a freedom-loving people, Thomas Jefferson. If you had been living in 1776, perhaps you would have actually signed this document as a delegate chosen by your friends and neighbors. But your name, in a sense, is there. It was signed for you by proxy. The 57th name on the Declaration of Independence, a priceless heritage that is yours to hold and cherish. The Declaration of Independence is just what its name implies, a statement of our belief in the equality and dignity of man, and a list of the wrongs committed against our freedom. We might make a similar declaration and a similar list today, setting forth our grievances against the forces that seek to deprive us of our freedom. For freedom needs us, needs our declaration of faith, our constant effort to protect it and extend its meaning. Tonight, on the eve of our nation's 175th birthday, we can rededicate ourselves to the principles of American freedom. Tonight's DuPont cavalcade, Sound the Great Bell, starring Lee Bowman, was written by Morton Wishengrad. Music was composed by Arden Cornwell, conducted by Donald Boris. The program was directed by John Zoller, the society Harris speaking. This is Bill Hamilton speaking for our cavalcade players, our writers and musicians, and wishing all of you a pleasant summer from the DuPont Company of Wilmington, Delaware. Makers of better things for better living through chemistry. Now here, Brian Donlevy and his dangerous assignment on NBC.