Today's episode is sponsored by Squarespace.  I am going to try and pull out some exposures on some 60 year old sheet film, more specifically some 8x10 Panatomic X that expired in 1958. You may not personally remember the 1950s, but here's a quick recap from someone who wasn't alive then. Times were good, World War 2 is over, houses are abundant and affordable, and the whole Harambe thing won't happen for another 50 years or so. This whole thing started when I was sent some expired Panatomic X by a fellow named Andrew. Develop before July 1958. Oops. What am I feeling right now? Emotionally. Kodak Panatomic X is a black and white film and was discontinued by Kodak in 1987. Panatomic X has cemented itself in the history books as the film that was shot and route to as well as on the moon. Of course they didn't shoot 8x10 on the moon, even though that would have been f**king sick. But enough history lessons, this film's oldest s**t, so what am I planning on doing about it? Like humans, film starts to expire as it gets older. The only difference is that the light-sensitive chemicals on film decay over time and lose their sensitivity, whereas on humans, farts turn into shards. The general rule of thumb is to add a stop of light for every decade that the film has expired, but there are quite a few asterisks to this rule. And I've personally really only found this rule to be effective for a color-negative film. Supposedly black and white film doesn't decay as fast as other classes of films, and as an added bonus, lower ISO films don't lose their sensitivity as fast over time. It doesn't actually say what ISO this is. Though it doesn't say it on the box specifically, Panatomic X is generally rated at 32 ISO. Additionally, how you store your film also makes a huge difference in longevity. If it was stored in a freezer or buried on the ice planet hoth for 60 years, then yeah, it might be actually pretty close to its original ISO. If the film was stored in a room temperature or swampy humid environment like Dagobah, then it's probably f**ked. What I'm saying with all this is it's a total crapshoot. So step one, we're going to have to do some test exposures to see exactly what ISO the film is reading. To do this, I used my big brain energy and developed a test that should put us somewhere in the ballpark. I would shoot three sheets, one at one stop overexposed, one at four stops overexposed, and lastly one sheet at, well, frankly the shutter times were starting to get kind of ugly so I just said f**k it and doubled down to a thousand seconds. If nothing turned up on the first two shots, I figured this would be some sort of film photography hail Mary. So far in my large format career, I'm 9 for 9 on exposures. Not one shot has been f**ked up beyond repair, and it's a badge of honor that I wear proudly, even though literally no one gives a s**t. But that perfect record is about to change, so I'm sad. So now that the test has been shot, let's skip ahead to the future and see if we got anything tangible. Three days later. I'm trying to get your good side. Oh s**t, there's actually something on here. There's something on all of these actually, holy crap, I really did not expect anything on these. Alright, well, I didn't consider a third option in which all three sheets actually have a photo on them and none of them are too f**ked up beyond recognition, which is more than I can say about my 21st birthday. The exposure is a little hit or miss, but it actually gives us a lot of good information about the current state of the film. So here's the first shot, shot one stop over at ISO 16. Not too far off to be honest, a little underexposed but usable. This image displays heavy flaring or something going on here that wasn't in the others. I'm kind of suspecting that that was because it was the first sheet on the top of the stack and maybe over the years it just got fogged or something. Kind of like the top layer of a luscious wet lasagna getting more burned than the center part. Additionally, don't worry too much about the scanning marks, I just got some ANR glass that should hopefully kind of take care of that because those Newton rings are going a**. If you'd like to know more information about that, too bad, this isn't the video for it. Here's the next shot at ISO 2, which is four extra stops of light. Yeah, definitely a little bit overexposed. And lastly, here's the unknown Hail Mary shot, which has little to no detail in the highlights and plenty of information in the shadows, which is an obvious sign of overexposure.  I'm thinking it's probably good to go at its original ISO of 32. Or maybe even 16 is where we should shoot this bad boy. At 16 it seemed maybe slightly underexposed in some parts, but otherwise fine, except for the flaring. But hey, I'm willing to look past that because I too have flare ups of unknown origin. It's kind of crazy to think that 60 years past its expiration and by definition probably an archeological relic, and it's still good to go at its original ISO. But whatever. Without out of the way, now's the fun part. Let's go shoot. I loaded up my 8x10 Slammers and hit the road.  If you're a cop watching this, ayahuasca is just a slang term used to describe reading a good book, staying hydrated, respecting your elders, and being home well before curfew. Unfortunately our ayahuasca spot had been compromised as there were a lot of people there, so I just shot 8x10 instead. I had a new 120mm lens for the 8x10 that I was dying to try out. A 120mm lens is about equivalent to a 15mm lens on standard 35 or full frame. Of course that meant that my camera had to be flat and like roadkill to achieve focus. Online reviews of Panatomic X say that the grain is so fine that it's virtually unnoticeable. Gotta say, this wasn't really the case with my results.  Does this mean that film reviews are dirty liars and I'm the only person on the internet that you can trust? Nope. The opposite, actually. It's entirely possible that because we're shooting an expired film, we're not seeing a true representation of the stock's rendering. I took this shot and I remember thinking that this shot was gonna be so cool, but clearly something went wrong. I'm thinking maybe I somehow loaded it incorrectly. Honestly, what's worse than shooting something cool and then getting it back and it's a mess? It's kind of equivalent to toilet backsplash.  It was super windy at this spot, like Category 5 windy, which is starting to become par for the course every time I pull out the 8x10 for some reason. If you don't know, wind is kind of the natural enemy of large format. The bellows of the camera kind of act as like a sail when the wind picks up and rattles the camera. When you're doing longer exposures, obviously that isn't what you want. Anyway, this shot would have been cool, but just like a botched circumcision, something clearly went very wrong. I'm not exactly sure what went down, but my best guess is that the past 60 years haven't been particularly good to this sheet because it was f***ed. If you have any ideas of what might have happened, let me know. And don't say it's because I'm a bad photographer because I already know that. We tried replicating something we'd seen online where the subject of the photo's face was kind of motion blurred out.  Like the Exorcist, Caleb can actually rotate his head 360 degrees. Also like the Exorcist, Caleb scares me sometimes. Unfortunately, this shot only turned out OK, in my opinion. But we followed it up with another portrait. And I got to say that this shot is one of the best. The shallow depth of field in the shot kind of makes the whole scene feel miniature, even though Caleb is like eight foot two. I think that this is the best portrait I've ever taken. And the kind of texture of the film really lends itself well to the mood of the image. Is that a train coming? You better take this f***ing thing fast, bro. A train rolled by while we were shooting. And while I contemplated leaving it all behind, hopping aboard and starting a new life along the rails, I figured my film cameras at home would miss me quite a bit. Also Monica and Baxter or whatever. Before we wrap up this video, I'd like to thank today's sponsor, Squarespace. Are you tired of making some kickass work, but no one takes it seriously? Perhaps I have the solution for you. A professionally designed website makes all the difference in the world to booking potential clients or even possibly something more simple and having your work critiqued by your peers. A solid first impression makes a huge impact on your overall brand. So why wouldn't you want a polished looking portfolio that puts your best foot forward? Luckily for you, Squarespace has numerous professionally designed templates for you to choose from and customize. I personally use the Wells template on my website and have an easy to adjust setup for my portfolio. Squarespace's user interface is very straightforward and doesn't require any downloads, plugins or patches to get going. So what are you waiting for? If you're ready to build a website, you can start a free trial today at squarespace.com slash grainy days. And if you use the code grainy days at checkout, you can get 10% off your first purchase. So yeah, that's about it. Even though the film still shoots at its original ISO of 32, the finals definitely had a lot of dirt and grunge, which is definitely a look like seaweed. This film definitely has a lot of texture, but that doesn't mean I'm going to pick it up off the beach and suckle that bad boy down. I think I probably could have done most of these photos better if I'm being honest. In my time of reflection on this video, I kind of came to the conclusion that film is a lot like Schrodinger's cat. Film gets loaded into a box and before it's developed, it is both simultaneously a good photo and a bad photo. It's only when it's developed fully that I realize, yep, that shot looks like sh**. So what did you think of the 60 year expired Panatomic X? Besides the fact that it sounds like it would heal you and fall out for, I thought it was pretty interesting from a historical standpoint. I'm actually interested in exploring more of the Panatomic X line of stock. Maybe 120 would be something cool to try out. They actually discontinued Panatomic in 1987. So maybe I can find a role that isn't old as balls.  I guess that means I'm old as balls. Here's a quick comparison of the Panatomic X and some 35 millimeter T-Max 400 that I shot on the same day to show more or less some of the film damage I was working with. If you're on the hunt for something similar, apparently Cat Labs 80 is a film stock that bears a striking resemblance to Panatomic X. From my results, I'd have to say, yeah, maybe. What I can say for probably almost certain is that Cat Labs 80 is not secretly Panatomic X in disguise. The actual film of Panatomic X is quite sturdy and the negatives are quite dense. Whereas I'd say Cat Labs 80 negatives are pretty thin. But regardless, to wrap things up, if I could go back 60 years and freeze more 8x10 Panatomic X, would I? You bet. I'd also probably invest in Dogecoin.


QuickBooks Online 2023. Bank feed to bank feed transaction. Get ready to start moving on up with QuickBooks Online 2023. 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. Here we are in our bank feeds practice file. We started up in a prior presentation using the 30 day free trial. We also have open the sample company. If you want these to open at the same time, we suggest using the incognito window to open the sample company or another browser. You can open incognito if using Google Chrome by selecting the three dots in the browser incognito window typing into the search engine, QuickBooks Online Test Drive. We're using the sample company to compare the accounting view, the one the bank feed practice file is in, and the business view, the one the sample company is in. If you want to toggle between the two, you could go to the cog up top and switch the view down below. Let's duplicate some tabs like we do every time. Right click on the tab up top to duplicate it. We're going to put reports in these duplicated tabs. That's why we do it every time. As you know, right clicking the duplicated tab to duplicate it again back to the tab to the middle down to the reports on the left up to like the middle kind of left area to open up the balance sheet. By the way, if you're in the business view, the reports are located in the business overview on the left hand side and then the reports. Okay, then we're going to go back to the tab to the right and then to the reports on like the lower left side. And then we're going to go into the profit and loss, which is kind of the middle area, but somewhat left middle kind of area. And then we're going to change the range. Let's close up the hamburger and that range needs to change. Let's go from 010122 tab, 123122 tab. Run it for the refreshing of it. Tab into the middle. Hamburger needs to close. The range needs to change 010122 tab, 123122 tab. Running to refresh it. Let's also open the bank feeds because that's where we're focused these days. We're going to the first tab banking on the left banking tab. That's where they are. If you're under the business view, by the way, the banking is located under the bookkeeping and then the transactions and the bank transactions. Okay, so we set up our checking account and then our credit card account. We enter transactions from the credit card account, which looked quite similar to transactions we might enter for expenses like utilities and whatnot on the checking account, except that instead of cash going up the liability went up when we entered those transactions. And now we're going to focus in on those bank feed to bank feed transactions, which is this is where you get kind of an overload of the bank feeds. The bank feeds are all nice and easy, but now you've got these two bank feeds and each one of them are kind of saying, Hey, look, I'm taking this transaction, I'm recording it.  And then the ball lands like in the middle of them, you know, so that's what we have here. So most of the time, I think people would be thinking about this in terms of the checking account and saying, okay, there's going to be a transaction that's going out of the checking account to pay off the credit card account. So I would think most of the time to me, I would think about it as a payment from the checking account that's paying off the credit card account, although you can think of it from the credit card side of things to facilitate the transaction from the bank feed. And then the other side's going to basically the checking account. So the basic idea being, of course, on the balance sheet, now we've got this liability down here of the 96367 that needs to be paid off, that needs to go down, it's going to be paid off with a checking account transaction. Both of those have bank feeds attached to them. Now there's another issue here in that when we start to pay these off, this amount right here is not going to tie out to the balance that is owed because of that first beginning balance issue. We're going to talk about that in a future presentation. So this will flip to be a negative because we're going to, but we'll do that beginning balance issue, like I say in a future presentation. All right. So notice that there's kind of three forms that you can think of to do this as, like if you were just to say, which form would I be using to pay off the credit card? You'd probably say, well, why don't I use an expense form that's coming out of the checking account? That's one form you can use, which is just similar or a check form if I was going to pay it with a check. So these two forms are quite similar, usually used to decrease the checking account. The other side go into whatever other account we assign, the other account this time being the credit card account, you would think that would work quite well, but, and it does, you can do that, but there's kind of an issue with it in that it'll look kind of correct on the checking account side because you'll have an expense form, but then you can imagine on the credit card side, I'm going to have this expense form, which usually those are the things that result in an increase to the credit card liability, but because I used the expense form on the cash account, it's going to have an expense form that's decreasing the credit card liability. So for my sorting, it doesn't look exactly right. You could do it, not a big deal, but it wouldn't be exactly. I mean, it's kind of a little messy on the transactions of the credit card. You could say, well, then maybe I'll use a transfer form. You could do that possibly and a transfer often kind of fixes this problem because if there's two financial accounts that are having an impact and I record it as a transfer, the transfer could either be an increase or a decrease, say to a checking account. So you could use the transfer and that would work because then on the checking account side of things, the detail would be recording instead of an expense form. You'd have a transfer form in here, which that's kind of appropriate. Again, a transfer could go either way. And then over here in the credit card, we would have a transfer form. That's another thing that you could use. You can imagine possibly using, you probably wouldn't think to use like a deposit form, but you might, if it was a bank feed to bank fee transaction on the cash side, you might think about using a deposit form, right? Because if it was going to one checking account to another checking account, you could use the deposit form on one of the checking accounts and you'd end up with the same kind of problem as we use with the expense account on one of the bank feed accounts. And that would be that it would look right if the checking account that I was using on the deposit side was going into it. But if I was going to another checking account, that the other checking account would have a deposit form that would look like an expense, which is opposite to what you would think a deposit form should look like when I look at the transaction detail. And then QuickBooks adds this other form that's specific to the credit cards to kind of deal with the same kind of issue, which is going to be a credit card form, which they call pay down credit card. So this is kind of like using the transfer form in my opinion, in order to like deal with that kind of transaction detail issue and show it, but it's specific to the credit card. So those are the ideas you can use like like any of those forms to do the transaction. And it would be fine that journal entries would still work. But when you look at the transaction detail, it'll be a little bit more messy than you otherwise would like it to be.  So let's just look at that in a couple of different ways here. Let's just think about that. If I go to the checking account and notice that it might have recognized. So it recognized this transaction. So first of all, I can recognize the transaction because this amount of course is paying off a credit card amount. So I should have an amount on the credit card bank feeds on 97 or around there for let's say 97 for 275 47. If I go to the credit card and this side 275 47. So I could go over to the bank account and obviously if it paired it, I might just match it. But let's just look at some of the options. If I go into it, it recognized the other side as a credit card. So it wants to record it as like a credit card type of transaction as opposed to me categorizing it as like an expense type of form or or a transfer type of form. Let's do that one first. That's the most that would be like the most correct way to do it. Let's do that first and see what that looks like. So I'm going to say, all right, let's just add this. It's going to record it as transfer or credit card payment. And if I go to the credit card side, then it just recognized it over here and it paired it for me. So I'm going to say, all right. And then if I go to my checking account and run it, I should have in my checking account, a different kind of thing over here, which would be a credit card. There's the credit card payment. So I could sort it by credit card payment now instead of instead of for the decreases. So when I look at the decreases now, if I'm looking at all the decreases and I wanted to filter them, I can filter by check form. If I'm writing any checks, the expense forms are decreases. So the expense form where are the expense forms are decreases and the credit card payment. So here's the credit card payment. There's the expenses. So now I can now I can look at these. And so now I've got my expense forms and the credit card payment. So I'd have to recognize that when I look at my transactions, but at least it doesn't look funny.  That would be weird. All right.  And if I go to my credit card side of things and I go into the credit card, the payment has now been made. And that looks proper, right? So the expenses are increased in the liability in this case. And then we're paying it down with the credit card payment coming from the checking account decreasing the liability because it has now been paid off. So notice on the credit card side of things, everything for most small businesses is being constructed from the bank statement or the bank from the bank or the financial institution. The payments are being recorded as they clear the financial institution from the bank feeds instead of us matching. And the payments of the credit cards are hitting both sides are hitting a bank feed, the checking account being connected as well as the credit card. That's why the reconciliation of the credit cards is usually quite simple once you have that beginning balance issue set up because everything is coming from the bank feeds. Now that's the right way to do it. Now let's just, I just want to give an idea of why they need this credit card form. You could use a transfer form to do a similar kind of thing. But let's just, just so we can examine kind of the issues here of why they might be using these other different forms to get an understanding of it. If I was to go to this second one, so this one 309 is here. Let's, let's imagine that I said, well, I just want to categorize it as an expense type of form. And then I'm just going to say that it's paying off the credit card. I won't even put the vendor here. I'll just say the category is going to be the credit card. So now it's going to be an expense form, which is the form that decreases the checking account. And I'm just going to assign the other side to the credit card. That would be the most natural thing that you would probably think to do, right? If you didn't, if you were just going to pick a form and you didn't know about this other form that you could use, right? So I could say, okay, let's do that. And then I could add it. And so now if I go, if I go to the credit card side, it may still be able to pair that, but now it's saying it's been matched. So it matched this one. So that looks good. So I could still match it on the other side, which won't record anything new, because I already recorded on the checking account side, this will just match it and say, okay, yeah, it'll tie out helping us with the credit card reconciliation. So I'm just going to match it. That doesn't do anything new just shows both sides. And then if I go up the problem with that, and it's not a big problem. It's just, you know, I'll just show you what the difference is on the checking account. It looks kind of normal because it's an expense form that's paying down the credit card. So it's going to be an expense type of form. The other sides go into a credit card. Where is it? Here it is. So there it is. So the credit card. And so you can see over here, it's just a normal expense form. So if I go into it, it's an expense form. Boom. But that looks normal kind of because it's decreasing the checking account versus the credit card form. If I go into it, it looks like this, right? A payment for the pay down the credit card. So if I go into the other side, though, it looks a little bit funny, because if I go into the credit card side of things, then now I've got, I've got the expense forms usually increased in the liability, but then I got another credit card, an expense form that's decreasing the liability. And that's where it gets kind of funny with these enter bank feed to bank feed type of transactions. Not a big deal. The transaction is the same. The two accounts are affected. It's not going to, it's not really hurting anything, but that's the issue. It doesn't look quite right in terms of the transaction type form that's being used. You might want to differentiate that to show the payments. So I can sort this. If I wanted to sort this by, by expenses, by the things that increase the liability, I'd like to sort by expense form. And if I want to sort by the payments that are made, then I'd like to have something other than an expense form so that I could see the other side of the transaction. Now the other, the other way that, that you could see this as if I go to the first tab is now you have the same issue. I won't go into that one here because it's a credit card, but if you had two checking accounts, then you can imagine the second that you could imagine using a deposit form, right? If there's a deposit going into your checking account and it was coming from the savings cash account, then you might say, okay, I'm going to use a deposit form to increase the checking account. That would be fine looking here, but if you looked at the other account, the savings account, it would have a deposit form with a negative amount decrease in the checking account with a deposit form, which messes up your sorting by transaction. That's why if it was going to a checking to checking account, you usually use a transfer form as opposed to a deposit or expense form. All three of them work. They do the same transaction in terms of journal entries. The same accounts are affected going the same direction, but they don't look quite as quite right when you sort the detail. And then the credit card, the payment of the credit card, it's kind of like a transfer form, but they wanted to add another one for the credit card payment, I guess, to be more specific. So let's go over here and now I'm on the credit, let's say we initiated the transaction from the credit card side of things and just to test it out, it's picking up the record as a credit card, which is probably the one you want to use. But let's just try to use the record as transfer just so you can see the difference. So now I'm just going to, it's going to do the same thing, right? But now I'm just going to use a transfer form and that, and that'll be a similar kind of kind of item. You could use a category, if you use the category form over here, it might, it might actually use a deposit, but that would be a little bit unusual to use a deposit form on a credit card. So let's try to use a transfer form and record it that way starting from the credit card side. And it says category is not selected, transfer from, I'm going to say the checking account. So checking account, boom. All right, so there it is, that's right. Okay, let's add it. And so then the other side would be on the checking account. So if I go to the checking account, I have now initiated it first from the credit card. It has now matched it as a transfer on the checking account. So if I, if I check it off here, nothing new is going to be added. We've just changed it to a transfer form as opposed to a credit card payment. So then if I go to my forms and I run it, and I look at my checking account, now I should have a transfer form. So it looks like this. So, so that looks fine because the transfer could be an increase or decrease depending on which way the transfer is going. So transfer is a little bit tricky because again, it could go either way. If I'm trying to sort my, my, my cash by all decreases and all increases, the transfers kind of mess things up because it's possible that the transfer could be an increase, you know, or a decrease. It would be nice if I could maybe like record all my increases as like deposits, for example, and then use the transfers to record the decrease to my major checking account or something like that. If I want to sort my data, although it's not a big deal, but it can make the sorting of your data a little bit easier when you're trying to filter or something like that to drill down on something. And then on the credit card side of things over here, it's now flipped because it's, because it's, it's negative because now we have more payments, but we'll deal with that with the beginning balance thing. Now we have a transfer, which kind of does the same thing as this credit card payment. It still does the same function because like the expenses are the things that are increased in the liability. You would like the payment that you're making that's going the other way that's bringing the liability back down to be something different. And so a transfer kind of serves that purpose fine, but they also have, of course, the credit card payment, which also serves that purpose fine. So I'm not sure exactly what added benefit the credit card payment serves, but they have a specific form for the credit card payment. So I would obviously suggest using that because that's the format they're going to use. But just note, you might think like, why do I have all these forms that can record the same transaction? Is it wrong if I record? Do my books going to be totally messed up? No, that's kind of the reason you do have other options you can use to make those payments. The credit card payment form might not be the first form that comes to mind. When you first try to set this stuff up, you might have been making credit card payments with checks before because that's how you would pay off the credit card. That's totally fine. But it's giving you a different, but this way, bank to bank, gives you a differentiation factor. And again, I think it would be like if you're trying to get more detailed and you're trying to make a system that's going to work best going forward. Obviously, you might want to use the credit card form because that'll give you a distinguishing factor and it'll always be a decrease to the checking account that you're paying from. And it will always decrease the liability account down here and then possibly use transfers for, of course, the inter-bank transactions that are going from a checking to savings or checking to checking. And you might want to come up with a system where the transfer, for example, always decreases the checking account maybe, right? And if it goes from a savings accounts to the checking account, then maybe you want to record it as just a deposit or so. I don't know. So you can come up with your system between those items, but the journal entry is always the same. If you've learned bookkeeping in a classroom, you're probably going, but the journal entry is the same, right? It's just doing the same thing. And that's true, but the sorting data is where it gets a little messy when you're going back in and trying to filter all this stuff and all that kind of stuff. And it could make a difference for that kind of thing. So those are going to be the bank feed to bank feed stuff. So we still have this beginning balance issue here. That's why we have this negative balance, which probably wouldn't be tying out at this point in time to what's on the credit card statement. So we'll do the bank reconciliation and credit card reconciliations and deal with that beginning balance issue in a future presentation that would only be there in the event that you didn't start your credit card from scratch with a zero balance, but you already had a balance prior to when you started doing the bank feeds and setting up the bank feeds. Let's just open up the trial balance because we can see what we've been constructing thus far, mainly with just the bank feeds. And now, of course, the credit card feeds, another form of bank feeds reports on the left. Let's just type in the trustee trial balance. I just want to recommend that we use the trial balance or possibly give it a shot at least. Just give it a shot, you know? Give it a shot, 1231-22, because it's the balance sheet on top of the income statement, more streamlined. We could see everything in one place, assets up top. And then we've got our liabilities, which now include, of course, the credit card, which has a debit balance because it's opposite to what it's going to be because it's, but we'll fix that later. And then the equity section and then the income statement, income and expenses with other income and expenses on down below.


Welcome to the last set of news like a top stories and crypto and bring out a bite-sized pieces today. Just as the thumbnail suggests, I am essentially writing off December, but December is still important for a couple different things. So we're going to go over a long laundry list of things of why it's important, but we're going to go over two things first. Then we're going to take a look at rebalancing and what Raoul Pal talks about as far as December and January and Q1 in 2022. We're going to take a look at the M1 supply and some on-chain analysis and where it talks about the different institutions that are coming in. Then we're going to talk about what to do with the money in the bank or what I'm doing with the money in my bank. And then lastly, we'll take a look at some options and some final thoughts. So before we get going, just like I recommended or talked about, I want to talk about two things. And you can see it right here. There is this issue that I see happening more and more, especially as the market starts to go down or move sideways or not. And it doesn't move as we expected it to. And I see a lot of what's called thumbnail investors. And those are the people that they just take a look at thumbnail and they assume what the video is about. And then they don't even watch the video and they make comments. So if you're here and you're watching, great, watch the whole video until you can kind of make your own basis about what's going on. Now you're going to see some comments in the comments section. It is what it is. So thumbnail investors, I gotta tell you, they don't really do too well in the long market. Sorry, that's just what it is. And then also, I know that we're going sideways and everything else, but and then people are kind of like, they're talking about jumping ship and doing all these great plays and leverage plays and trading them their way out of it. But in all honesty, it really comes out of this. This is Nick Murray. He was a, he's been in the investment game for decades, were a couple of bestselling books. And he says it perfectly. I've said, I've said this before, timing the market is a fool's game, whereas time in the market is your greatest natural advantage. I always just say time in the market is greater than timing the market. I just kind of paraphrase for it. And also you might remember this guy, Warren Buffett. I know he's not a big fan of cryptocurrencies, but his investment devices sound, you know, the real fortunes in this country have been made by people who have been right about the business they invested in and not right about the timing of the stock market. So look, I know right now it's, it's pretty easy just to, you know, kick back and go, damn it. You know, I was hoping that we'd be to the moon already in December. I thought we were going to go a little bit higher. I know we've got a little bit of time for December, but right now I think it's December 17th or 18th or 19th. Jeez. Really going fast. A lot of things been going on. Sorry. And so we've got about what, 11, 12 days. I was hoping for fireworks. Doesn't seem to actually be there. But again, time in the market is greater than timing the market. And I see that there's going to be some good things on the horizon. So just real quick, let's take a look exactly what that market is actually doing. And it's not so great right now. I mean, we're up a whopping 0.26%. Watch out 2.21 trillion. Wow, that's great. And we take a look at where the actual action is, as far as tokens or coins and whatnot. Bitcoin is hanging around at 47,000. So we lost that 50,000 spots. It seemed like everybody was talking about the 200 day moving average and TA people talk about, you know, this is where it's going. This is what it's going. And then you take a look at sentiment analysis. Well, it's going to do this. It's going to do that. In all honesty, no one knows. No one has any idea where things are going. We just can kind of like take a look at what's going on in the short term. I can't tell you what's going to happen in the short term. I have no idea. In the long term, I can tell you things usually do pretty well, even in the traditional market. Go figure. Let's see. Is anything up? I think that's a bigger question. Anything up? That we could take a look at it last hour. Life coin. Okay. Up 4%. Great. Nothing really great. And everything's pretty much moving sideways. So, well, it is what it is. So that's what we have in the market. And this is what it brings me down to. There was a great interview. And it was on Real Vision Crypto. And there's a couple of people you might actually recognize. You got Raul Powell, gentleman there from the Defiant Ones. And then Camille Rousseau over to the right. She's the one that wrote the Invisible Machine. Matter of fact, she's going to be on the show tomorrow talking about how they're turning the Invisible Machine book, which is all about the Ethereum foundation and how it came to be. And they're actually turning that into a movie. So I'm going to ask her a couple of questions. But there's a pretty good snippet in here out of the whole 30 minutes. It's a great discussion. I'll link in the description. But this part here where Raul was talking about how do things that you see as far as the charts and where things were going in 2017, how it diverged, and where are things going? And then he's going to talk about a little word here that I think is pretty important called rebalancing. So just take a listen to this video. Hi, you, Raul. What are you seeing for the next show? I'll just go through your tweet thread where you were talking about people being scarred by past cycles and then being optimistic. We haven't seen a blow off top yet. Yeah. So if I look at the structure of the market, it started diverging from the previous patterns of 2017 and Bitcoin 2013, which was interesting because they were completely mirroring it, and then it started changing. And it's something that I've been suspecting was going to happen because the participants in the space have changed. And everybody in it from the past, when it purely retail, haven't got their heads around this. So what happens at the end of the year is firstly, there's the tax stuff that we know, and that's probably usually been the tipping point for crypto after it's had the huge run at the end of the year. But significantly, institutions tend to rebalance portfolios. So they will rebalance to go back to their waiting. Let's say their waiting was 1% or 2%. They will sell down on their position. So that tends to drag into year end. Hedge funds, because they want to get paid, want to close their books, because then that's where their P&L is marked and then they get paid on their performance fees. So there's a lot of incentivization to actually take profits. Now, that's not profits of people who want to be out of the crypto market. It's just driven by investor metrics. So when you come into January, I used to see this in the hedge fund industry, I write about it every year in Global Mac and Investor. There's a phenomenon that happens every January is everybody comes in with a brand new P&L. And they're like, well, what can I do today? Now, we've got a ton of crypto hedge funds, traditional hedge funds and crypto. So those guys are going to come to their desk, they've squared their book. What are they going to do? They're going to buy crypto. So and the institutions, I mean, I know this because I'm first-hand conversations with so many is they spent the whole year getting the approvals, getting the custody, getting their accounts on boarded with whoever it is. And then the next step is, well, our mandate for 2022. So I see a huge amount of mandate from institutions actively putting money into the market. So my guess is there's a lot of people who think that maybe the cycle's topped, maybe it's done. I think it's a temporary phenomenon. It probably absolutely rips and it may rip from kind of next week when most of the institutional guys have gone home. And we see that often in financial markets, because then what happens is it's very thin liquidity. And there's a bit of a panic to get into the positions. And that usually goes through. So I think next year is probably stronger in the first half of the year than anybody imagines, because everyone thinks it should have finished now at the end of the year because that's previous cycles. Yes, there's a lot to unpack there. I mean, what Raul just said, it makes you pause and think. First of all, the first thing I thought about was we've always heard about institutions being here.  And then of course, 18 was just an awful year in 2020. In 2020, we kind of heard in 2021, here we are with institutions. So the real question is, I mean, are they really here? We hear about the stories and we hear about that they're here, but are they actually buying? And that actually comes through with, because leading to my next point, as we're talking about on-chain analysis first, and then M1 supply. So there is a great diagram here. This is from into the block. Let me blow this up. And what this is, it talks about large transactions. And it takes a look at any transaction that is above 100,000, which goes to one location only, not back and forth, just one location. There's another metric for that, which kind of, it doesn't give the full picture. So this one right here, large transaction volume in USD for on-chain analysis. You can see that what we have here is the prices in black and the trade volume is in blue. So anything above 100,000, well, that could be potentially a whale, sure, or maybe just a little bit of institution action right here. So we can see in 2018, yeah, blip, right? But what's amazing to me is that if you kind of scroll in, and kind of like we talk about zooming in, which is not a great idea if you don't want to do too much, usually we zoom out, but we zoom in and get to get the data, we can see that, yeah, there's a lot of different plays that's especially in 20, a little in 2018, not too much, then a little spike here before 2020 action. Then 2021, you can just see that, of course, the price goes up, but you see what's happening here is that the transactions that are 100,000 or greater goes 2X, 5X, 10X, 20X, 100X. And now here we are in 2021, and towards the tail end. And of course, there's a lot of money being on the side. Now could that be just a bunch of whales? I don't think so. There's only so much money to go around.  You could, but usually from what the on-chain metrics will tell us, is that yes, it looks like there are a lot of institutions actually coming in. So then the next part I always think about is this is, well, these institutions are here, then why haven't they gotten in? Well, of course, what Raul was talking about, which makes sense, we talked about this before, is that there's a bunch of CEOs and insiders. They just sold $69 billion with the stock because they had to sell off before the end of the year. And they could be a little bit frightened about what's going on potentially with the capital gains tax adjustment for next year. But what they're doing is they're selling off for taxes. And we know that this is going on. But also if you think about it, if they're selling off for taxes, I guarantee they're not keeping in cash. And I can tell you why they're not keeping in cash because of this metric right here. This is from the Economic Research or the Fed from St. Louis. And you can just take a look here. This is the M1 money supply. What's the M1 money supply? If we take a look here, before May 20 doesn't matter. Beginning May 2020, M1 consists of one currency outside the US Treasury, Fed Reserve Banks, and the value of depository institutions. It's also other liquid deposits consisting of OCDs and savings. And then this is also demand deposits at commercial banks. So pretty much, it's pretty much the big source of money supply. And you're going to see what's going on here. This is in billions, in billions. And for the longest time, 1960 all the way down here, look at how much we printed in 2020. You can't make this up.  You're going to put those into other types of assets. So what are those assets that they're probably talking about? Well, just like Powell was talking about, they probably take a look and say, well, we need to get everything in order, our custody in order. We want to rebalance. And of course, we need to lock in these profits for hedge funds. So they're going to get into partially crypto and digital assets. And actually, I've got Anthony Scaramucci coming on the show in first week of January. He's got his hedge fund. I'm going to ask him, if he sees the same thing, what he thinks as far as like January, that would be like from the insider, the insider of insider's mouth. So we'll see how that actually goes. But if that's you, no, taking a look at this, I wanted, I wanted the big fireworks to just didn't happen. And that's why I talked about in the beginning. Yes, it's awful. But again, time in the market is greater than timing. It'll be easier for me just to, you know, last year, just say, Hey, I'll see in four years. And then we'll see how it goes. But it doesn't work like that. We have to deal with the emotions, take a look at what's going on, kind of just go, Okay, well, should I sell? This is the best thing for me and my family. Is this my goal? Because Hey, my goals aren't your goals type of thing. And you really have to just take a look at what is the best part. Now, me personally, I've always said, I'm going to dollar cost average in and I'm going to dollar cost average out. And I've, I've kept myself up to that. It was very hard this year to, you know, sell when I, when I said I was going to, but I had to because I had a plan and I kept that plan of action. And now here we actually are. Now here's the other problem on the flip side. Now that you sell a little bit. I didn't sell a ton. But what I try to do is I still need to get into assets because if I just have cash sitting there, what am I going to do? And this kind of comes down to the question that, you know, we're talking about the beginning is the money in the bank, what are we doing here? So if we keep money in the bank, we're going to get screwed over by inflation. Here's a great picture from Sal. And he says, here's, here is wood, January 2020 for a thousand bucks on the left hand side. Here's wood, $1,000 on June 2021. Now, of course, people can argue they say, well, that's just not inflation. Totally. You know, that's also the supply chain. Sure, I can give you that. Obviously the supply chain is a little bit broken here. But don't you think that a little bit of the money supply and inflation might have affected that. And then also this actually came up yesterday. I was with one of my real estate agents. And he said, Jorge is like, hey, man, what are you doing with all these different sales? He's like, well, I'm trying to, you know, purchase more assets like the houses here and flip them, but I can't because there's no inventory here in Puerto Rico.  I was like, wow, this is one of the few people actually knows about inflation. And of course, we talked about crypto and things like that. But these types of things is like, he's like, he gets it, he needs to put it into some type of asset. And that's why the revenue that came forth from my crypto sales as I went along, I didn't just keep it in there. I actually put it into hard assets like real estate. Was this the best time to buy real estate? Well, probably not. It wasn't like the best lowest prices of all time. However, short term rentals, it works out pretty well. And I'm actually going to be a video pretty soon. It's going to be, I won't give the title. I've actually talked about this in my Twitter account. So the last thing I will say is this, if you're trying to think about like, what do I do? Do I keep it into crypto? You probably do pretty well with that or digital assets? Yeah, sure. But however, there's another option. It's just what I'm also doing. This is 5% of my allocation. That little thing called Masterworks. This is one of those assets that are totally uncorrelated to the markets. Doesn't matter if traditional, doesn't matter if it is with crypto. This is uncorrelated because guess what? When you're investing into fractionalized shares of multimillion dollar pieces of art, the ultra rich don't care what's going on because they're ultra rich. They still want to buy this. So this to me is something that I get into. And also, I want to protect some of my wealth with a Roth IRA with I trust capital. On top of that, I'm also investing into real estate. And on top of that, I'm putting a little bit of dry powder on the side for when the next big dip comes. And I have bought nearly every single dip, but it's getting a little bit harder because I just purchased a pretty massive piece of real estate. And that's what's going on. So look, I know it was a little bit pretty short and sweet today. So not too bad. But look, if you liked the video today, give it a thumbs up, give it a like, also consider subscribing. I think we talk about our time sensitive. And that's it for today. So thanks so much for watching. I appreciate it. And I'll see you on the next one.


Hello, good morning. Andrea here with dental oil tutoring. Let's do some study tips study help on dental ethics. So let's talk about ethics. What is it and what basically do you have to know so ethics as a dental professional basically means we have a moral conduct so we need to know the difference between right or wrong. And if there's ever any confusion well we have to just really refer back to our code of ethics and we do have categories we have codes, we have principles which is what I'm going to talk to you guys in a little bit. Basically, as a general rule you have to think that we have standards, and there are, you know, minimum, minimal standards by law that we have to follow as an example. We can't be using dirty instruments on a patient I mean that's a horrible example we never would, but those are minimum standards. Okay, and then we have to think about things like, Oh, are we going to bill somebody who has insurance more than if somebody who doesn't have insurance. All of that refers to code of ethics we might be wanting to try to help out somebody who doesn't have insurance, but is that the standard of code of ethics no so let's talk about that a little bit. So you do have to know certain principles for our code of ethics you have sources you have principles you have categories.  That basically means your patient people have a choice to do what they want they have that autonomy meaning if they don't want x-rays taken, they have that prerogative to say no, and we need to, they have to be or sorry we have to be okay with that. But it's in our code of ethics to make sure they understand why radiographs are so important, but they're allowed to say no so do you see how that can kind of overlap a little bit, and then there's another one do no harm. That's non Maleficent so basically not doing harm we have to be a professional at all times, not causing harm not something as simple as not using dirty instruments, but things like we always need to think about the best interest of the patient, even if the patient thinks otherwise. An example might be somebody comes in with severe gum disease, they need teeth taken out they have an abscess there's an infection traveling through their body but they want teeth whining they insist on teeth whining they don't care about the other stuff. Our code of ethics is we cannot do harm us performing teeth whining and ignoring the other stuff is not within our code of ethics. The patient is yelling at us they're getting upset because we're not doing teeth whining well we need to tell them. We have a code of ethics, us just simply doing the teeth whining for you of course we want your money, but we're thinking about you first we cannot do that we can do the teeth, the teeth whining right after we fix that infection. That's what we need to take care of that first so that's do no harm, and then promotion of well being. This refers to beneficence that's always hard for me to say beneficence might even say that properly please correct me in the comments if I'm wrong.  So basically we need to promote well being meaning we need to volunteer our time that's one way of doing that. Just by simply not car not causing harm to a patient we want to do so much more than that we want to help others. We want to do whatever we can as a clinician and in our community so we want to be the best dental professional we can to our patients but let's take it a step further and promote well being by volunteering so that's what that means. Justice is another thing so we need to treat people fairly, we need to give them what they deserve a fine line of this could be even if your patient comes in, they're extremely rude, they're having a tough time. We need to remember we need to treat people fairly so they might be super rude because they're very fearful they're very anxious of their dental appointment today we still need to treat them with respect and keep that in mind they're probably just extremely fearful. Of course that can only go so far. If the patient becomes, you know, they're going crazy yelling screaming they might be borderline abusive well that's when we have to nip that in the bud but if they're just simply being rude, I mean, not simply but if they're saying things you agree with they're being rude we need to remember that they're probably just extremely nervous. They still deserve the same amount of care as somebody who isn't nervous and is being super nice I know it sounds funny but that's part of our code of ethics. The next one I want to talk to you about is is a veracity veracity. So this involves telling the truth, we need to tell the truth and this could result in. We need to tell the patient what's true about their condition, we can't just simply say yeah you have severe gum disease but don't worry about it just come in every three months for your cleaning. We need to tell the truth we need to explain gum disease to them by showing pictures showing them the x-rays explaining things to them over and over until they understand so they're not just simply sweeping it under the rug. And that we have to tell them the truth even if let's say they don't want to hear it. I do have patients come to me and say you know what I know my teeth are bad I know they're horrible. I don't want to hear it I'm just here clean my teeth. That doesn't really happen to me in my own practice now as a mobile dental hygienist, but that used to happen to me in the dental office all the time.  I can't just sweep things under the rug I have to tell them what's going on. Another thing when it comes to telling the truth and I've said this before probably in previous study sessions is for kids we need to tell kids the truth. And not say to them that something's not going to hurt when let's say we're giving them a needle and we know it's going to hurt we shouldn't lie to them. Maybe just don't mention anything about hurting that's what I prefer that's my philosophy is I'm just not going to mention it.  I'd say something like you're going to feel a pitch or something like that thankfully in my own practice now I don't have to give needles because that was always hard for me to have to explain to a little one about the needles coming so I'm glad that I don't have to do that. Another part of our code of ethics is confidentiality this is a principle that we have. We need to keep our clients information confidential. I feel like that's one of the easiest things to do because who am I going to talk to about my client. I'm not going to go home and tell everybody I know about that client. I'm not going to tell my next client about the client I saw before it just doesn't happen. We need to keep our health care professionals things need to be confidential. But then we also talk, we need to talk about privacy, the health information portability and accountability act HIPAA that is privacy so we need to keep everything private. We need to safely secure their chart so that not just anybody can see it their health information is private that kind of thing. So those are the principles okay if you guys want to learn more absolutely comment below ask me any questions, and I look forward to talking to you guys and the next one.