is a presentation of TFNN. The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll-free at 1-877-927-6648 internationally at<PHONE_NUMBER>. Let's go to Eddie and Bokarton. Hey, Eddie, what's going on? Hey, Tom, how are you, man? I'm doing great, man, yourself? Good, good. It is a treasure to have TFNN every hour during the trading day to be there, to help you to guide you, and even to give you some peace of mind or, like, did somebody else are there with you while you're training this crazy market? He dropped her down. Well, listen, we appreciate you growling and prowling us out here, because we wouldn't be out here, folks, if we didn't have all you guys, gals, tigers and tigers as his clients. And the market teaches you every single day, man. Oh, welcome, folks. This is Tom O'Brien at TFNN. We have five days a week. We go seven hours a day. We go 24 hours a day on the internet at tfnn.com. Always remember, folks, whatever you think about, you bring about whatever you focus on gross up everyone's having a great day, safe day. It's making a great night, folks, and a great week. Serve the one you love.  To serve your love to your lover and every kiss, every touch, you feel you're there to please the one you love without expecting anything back. Mugger eyes, let's take a look at it out here. We have the Dow Industries Up 299, NASDAQ Up 267, S&Ps Up 46, Gold Contract Up $4.30 Trade 1980 notes. We have Silver Up 20 cents, $25.93 an ounce, Light Sweet Crude Up $3.72 cents, $104.31 a barrel, notes and bonds. Ten-year note, Up 8 techs trade in 1,2024, 30-year up 21 at 143.03 and King Dollar. King Dollar down 439 techs trade in 99, 853, Euro 108. Yeah, and out here at 125.62 and the British Pound is trading out here at 131 to 1 US Dollar. iPhone numbers 877, 9276648, give us a call, folks. Want to know what's going on in your world and the world of TFNN, folks. We got our man, Mr. Basil Chapman. He's gonna be doing a live webinar, four to five. This webinar, folks, is going to basically be talking about with higher interest rates, soaring commodities and warring nations as possible the stock market's gonna make new all-time highs. Now it's very easy to get into this webinar. So the way this works, folks, is this. If you're a subscriber of Basil's Open and Call, bottom line, you're coming into the webinar. How do you get to be a subscriber of Basil's Open and Call? It's very easy. Just come over to our website at TFNN, bottom line, you're gonna hit that opening call right in the features content. You hit subscribe, you can get that for one month, for $149.00, you can get it for six months, for 6.95, which is a savings of $199.00, and you get it for a year for 11.95, which is a savings of $593.00. Now it's all 30-day money back guaranteed, so come over and check it out. Then you're subscriber, you'll be in this event this afternoon, four to 5.30. I got my man, Mr. Basil Chappen, right here, just to give us a little update on what he's gonna be growling and prowling and hitting that wave on, man. Hi, Tom. How you doing? I'm doing well, thank you. I'm gonna make it as simple as possible. In the Chappenway methodology, we're always looking to identify the low bar and see each successively higher peak as they rise, I alphabetize them. Peak A is the first and the next highest peak is B, C, D. You can go all the way to G, but at D, that's where other things can happen. That's number one, and number two is when I get a buy signal upgraded to a buy mode, the implication is that there should be at least four higher peaks. On the right side chart over here, I'm showing the S&P made a peak B at 4818.62. That means, based on the Chappenway methodology, especially a monthly chart, it should still go to a leg C higher than that 4818 and it should then still go to a leg D. That's just, it doesn't tell you how deep it can fall, but it says it should still get there. And I have a methodology that I'm going to show and talk about, but I also wanted to say, talking about that peak D for subscribers if they were fortunate enough to join my webinar in the last few days, we had a buy signal on the stock called Uranium Energy Core. It's trading now at $6.46 today alone, it's up 12%. But we got it, we got it lower down. We just missed adding to it by one penny, but we still have a very nice position and there it is, that leg D. So it's made it the second D, the first one was on the 10th of March at 539, took a long time to digest gains and then it sawed away and it did this. Look at this beautiful cup formation. That's what I'm going to be teaching. Look at the number of bars on the left side and the weekly chart to the right side is exactly the same as it came back and broke that 579 high. So I teach you about the symmetry of the market, cup formations, arch formations. Look at this monthly chart, huge one. This is Green Line, that's a Chapman Wave, inside wedge, target resistance line. So there are a number of aspects. It's not just will they be higher highs in 2022. It's the techniques that we're looking at, the relationship to different sectors, et cetera. So this is really exciting and this is the proof of the pudding right here that we were looking for leg D and there's your leg D. And folks, okay, so it's very easy to get into this workshop. Come over to our website at TFNN, you're gonna see it right under the featured content. You just hit that subscribe button, subscribe. You're gonna, they said you'll get a link into Discord if you're not in Discord yet, okay? But please don't wait until four o'clock. We're all set up here. Jacob's been doing a high job. Tommy's been doing a good job. We have a lot of, wait here, so many people are in here Basil, let's give a love it, it's awesome. Oh, you guys are doing a great job. It should be so easy to get in and just sign up. So Tom, they get an email back, right? Yes, exactly. And then what they've been doing with, what Jacob's been doing is just emailing them personally so they're calling them right up and bringing them right in. So please do it right now. Don't wait until four o'clock, okay? There's gonna be three of us here trying to handle it at four o'clock, but please do it now, okay? It's really easy, it's simple. And you're gonna get an outstanding workshop. Well, Basil, you have a great one, a safe one, and of course look forward to listening to it at four o'clock. That's so am I. Thank you very much, Tom. Thanks, man. I'm happy to see many Tigers, thank you. I know, it's awesome. And folks, if you hadn't come into our Discord room yet, right on the front page of TFNN, we've got an amazing trading room. You know, we've had HotCom, I mean, Bottomline, this is a lot better than HotCom. You can do a lot more things and the technology just keeps going. And Discord's only a dollar a day, a dollar a day, a dollar for the year, folks, okay? You know, we have as active as 107 people in there right now and then there's another 100 or so people that just aren't in there at this particular point. I mean, so you got some, yeah, 113. So there's some real good action. You got some real good ideas. They toss them around, they see where things are gonna go. Pretty cool. So let's go take a look at some of the higher volume. Well, first off, we're not gonna have any volume out here today. Watch this. This is gonna be pretty cool watching this. So, volume-wise, you can see in the NYS, you get 451 million right now, versus 927, yes, they. When you're at 451 at quarter past three, Bottomline, that thing is gonna do about 758. The NAS that composite, this is really shrinking. The composite, we're at 3.7. So it's gonna do about 4.5. Bottomline, when you come down on volume, up on light volume, guess what? The trend is down and down, folks. Dow industrial is right now at 329, NAS except 272, S&P's up 48. Stay right there, folks. Come right back. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open to give you the competitive informational edge you need to succeed. 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Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN, educating investors. At 1-877-927-6648, internationally, at<PHONE_NUMBER>. Welcome back, folks. Dow's up free 39. Nasdaq's up 282. S&P's are up 50. We go to the Dow Industries. We take a look at the strength versus the weakness inside the Dow Industries. Point-wise, here's what we got out here, folks, is that you get Boeing putting 41 positive points, Microsoft 39, Home Depot 34, Walmart 27. Taken away from it. JP Morgan, 29, Traveler's 11, and let's go to JP Morgan, because JP Morgan, folks, is an ABC structure down, right from the get-go this morning. Couldn't handle the market, bottom line, broke a B, broke it with volume. The B point we're talking about in JP Morgan is 128.73. You need a 12 million shares, you got 24 million. This is a D, I think it's a 117 number here. Let's see, 147, 128, yeah, it is. And this, yeah, 134. So you get a 117 number on this here. But 127, we put this on a monthly for a second. That's 123, oh, this is interesting, man. So check this out, the price projection here, okay, is actually into the high of the low bar. So we'll see how this shakes out, because the high should basically give some support the first time down. We're talking about, that's $122.94. We got a 117 price projection. You broke the consolidation. You can see how you broke this consolidation. We put this on a weekly. And the bottom line is that this thing broke all the way at 147. You had 20 bucks lower down. And what's game here, we'll see how the 117 hangs up. But you have that gap that's wide open at 105. So that's gonna get intriguing. The write down wasn't that dramatic for Ukraine. It was 524 million, that's nothing for JP Morgan, number wise. So we'll see if that's it with the write down. When you talk about revenue, they did 31 billion. They're looking to do 31 billion next quarter also. I'm not quite sure how they see this jump next year. They're looking for a jump next year. The market's not believing it. They're looking for a jump from 126 billion to 135 billion. Not quite sure where they're gonna get that from, but let's go take a look at Bank of America. I think Bank of America's gonna come up with numbers tomorrow. Okay, so 18th. Okay, so that's Monday, I believe. Bank of America right now, that is going into its high volume load. High volume load there is 3821. We got the 3836. Let's put this on a weekly. Yeah, we'll see what happens when it gets down there. The bottom line is where it's going. NDX100, let's go take a look at the strength in the NDX100. What you got here, let's see, what's the Z scale? Yeah, Z scale is up 8.5%. You can zoom up 8%. My Deerner is up 8% and you got married up 8%. Taken away from it, PayPal's down 2.8%. Synopsis is off 1%. Activision, nothing, it's 6.10 to 1%. Let's go over and look at this Marriott for a second. So Marriott's up 12 bucks. This is probably on the Delta deal. You know, it's not that they were data talk. Mercedes, okay, so let's look at this one. Marriott Bonvoy puts members in a poll position to win. Let's see what this is. Mercedes Benz, LLC is facing Andrew Leho, no, let's not, I'll see this for a second. What is this? Marriott Bonvoy, this is Marriott's international extraordinary portfolio of 30 brand hotels. He's offering members a once in a life opportunity to take in the Monaco Grand Prix from a VIP yacht chartered by Mercedes AMG team. Let's see, the package is now available. Well, I wonder how many points you need for this. Members will be able to use the appointee to an auction to win the unforgettable experience. Hey, we'll see what happens there, man. That would be a trip, but I'm sure that's gonna be millions and millions of points. I can't picture that you're gonna win a, yeah, I just can't see it. Okay, so let's go take a look at this market. So you get a market that's running, there's no doubt about that. We'll see if it can get to the highs of yesterday. We just took out a B point intraday of an ABC, that's a small one, but it took it out. You can see that volume right there. We did 25,000 counter-tracks versus 18. So that would get you, let's see, 16. That's 20, 21 points, actually. So that's 44, we're at 42 right now. So it's 44, 44, 44. That's the A to B equals C to D. And the high of yesterday was the 44.66. And right now you're at 44, 43. We go to the NQs, we take a look at the NQs out here. Let's see if the NQs also did an intraday ABC structure on the way up. And okay, so this one didn't, this gets interesting. The reason that this didn't is that you can see that when you pull back on the NQs, you know, the A point is 14,166. Well then when we pull back, we got to 14,132. So that's too much of a contrast. It's more than a .618, that's my point more than anything. And if we get over and we take a look at the Qs, so the question is on the Qs, when you're taking a look at the bar that it went into, is a high volume bar. So the question is this, is that this high volume bar that's out there in the 16th bottom line is that we came into that yesterday and we did come into that with 72 million versus 105. So you did come into that with light of volume, no doubt about that. That being said, this is still an ABC structure on the way down. You get your A point that's laid out here at 369, you get your B that was down here at 340 and you see what had been the high of yesterday. So my take is that that's still an ABC down to be at 317 coming out yet. When we have a, so pitch this, that happens a lot in the context of whether you're going up or going down. And when that happens, I stick with the ABC structures. That's the real bottom line. And I stick with it, we're in a down market. We're not in an up market, you know? So whatever part, the larger part I basically stick with. That's where, that's where we are at this particular point. The XAU, let's go take a look at the XAU and the HUI. XAU, right now that is over ties of 361. This is gonna be because Newmont's at new all-time highs. And Newmont, you know, we'll do Newmont a second. Newmont only has to be a few more points away from, it hasn't really broken top side yet. So we're at 167. Oh, this is gonna get interesting. Look at this. Ooh, it's, wow. This is pretty cool, man.  It was a monster. We did a 990 million versus seven. That's saying it's gonna break top side. We break top side, it's a monster ABC up. Back at 62, it's 103 point, which gets you 219. I like that, man. Stay right there, come right back. Are you having fun trading the markets, but having trouble finding like-minded individuals to discuss your trading and investment ideas with? 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This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com. Welcome back, folks to Dow. And that shows up 333. You get the NASDAQ up 290, S&Ps are up 50. Let's get a mic in Long Island. Hey, Mike, what's going on, brother? Hi. How you doing, man? Good, good, how are you? Good. Yeah, I have an option for TQQQ, and wanted to know what do you think of TQQQ. And when does the option expire? Option expire next month. Next month, okay. But I wanted to sell by tomorrow. Okay, cool. Okay, so, and what strike price do you have on the option? Oh, sorry, yeah, it's expiry on April 29th, 50. Strike price is 50. 50, okay, cool. Okay, so the TQQQ is an exchange traded fund. The fund results that we saw three times the daily performance of the NASDAQ 100. Okay, so you're up 310 today. You have the 50, you have, what's the premium in the 50 right now? Here, one second, let me see this. 345. 345, okay, so real question is, do you wait for another day? Well, yeah, if we finish right here, I just wait till tomorrow, because what you have tomorrow is this, is that you're going into a long weekend. You know, my take is it's on an ABC structure down, but the bottom line, you get an upmarket today, more than likely going into a long weekend to be light volume will probably fill this gap. That gap there is 5150. What's the trading right now? One second, it's pretty close to that.  So that'd be another point. The real question is, if you're selling tomorrow, see this is where this gets tough, Mike, right? So you're in the money right now, right? Just sell it, I'd sell it.  If the market does go, opens down tomorrow, which I think this is an ABC down, okay?  You know, so once you're in the money, I'd take it, man, because you were certainly out of the money until today, right? Yes, yes, I was out. Yeah, I guess that's my point more than anything. All of a sudden, you get a second chance, right? Okay, so should I roll over or? I wouldn't roll it, no, I wouldn't roll it. See, I'm bearish, you're going bullish on that anyway. But I wouldn't roll it today.  Right, right, right. You see what I'm saying? That way you can get your bread back, make a little profit, start again on Monday, because when we come back on Monday, the next holiday is until May 30th. So you get a good run there, you see what I'm saying? Yes. Yeah, that's the kind of way I play that. Okay, okay, good, I'll sell it then. Okay, man, have a great one, have a safe one. Thank you. Appreciate it. Let's go take a look at the small caps, folks, so the IWM, we pull up the IWM on here, the small caps, those are also coming up with light volume, you can see what happened yesterday. Yesterday did 33 million, did 17 million today. We'll see if we can get over that price point. That price point is 201.68, and we've made it to 201.45. And if it does that, then that would also fill the gap above it, which is the 202.51. The Amazon, so Amazon, this is pretty wild, man. Amazon, you know, today's up 80 bucks. Let me see what this, right now it's trading up, it's trading up 103 bucks right now, so it's accelerating. And what you have there, folks, okay, the Amazon put a 5% inflation kicker. Amazon's gonna love the 5% fuel and inflation fee on online merchants that use shipping services according to the documents released, reviewed by Bloomberg. Now listen to this, man, do 5%, I think it's of 120 billion, because this has to do, okay, the surge charge is gonna start April 28th, and there was a number in here that they, this is one quarter of their, yeah, there it is. The company had seller service revenue of 30 billion in the quarter that ended in December. So, well, that's probably one of their best quarters anyway. But, he's talking about 5% 30, yeah, 120 billion. 5% and 120 billion, they're gonna be basically taking in a lot of bread. And that is gonna, of course, go towards inflation, goes towards the oil price, goes towards the trucks, all of the above. You know, that being said, it's really intriguing. What is happening out here also, simultaneously, is that shipping. Shipping is slowing down in a big way. You know, shipping slowed down, exposes 1 billion of U.S. economic growth. Heavy truck sales in the U.S. are a good leading indicator of economic activity, and 65% of the dollar value of North American freight moved by trucks. But new truck sales have been falling sharply, and now down 23% on an annual basis. New cars falling at the similar rate. And then if we get into the shipping aspect, freight volume has been slowing in your growth and containers loaded at the Port of Los Angeles is steadily heading down to zero after hitting 20% last year. Lockdowns in China clearly have an impact. Cities and regions accounting for 40% of China's GDP are full and a partial lockdown. The Shanghai freight index is 13% lower than it was six weeks ago. The sharpest decline in the 10-year history. I can tell you a flat out. I got a container out of Shanghai. It's on the way to Tampa right now. And when I was getting the quotes, I was biting the bullet anyway, I was getting the quotes. So the way it works with these freight quotes, folks, okay, they go all over the place. I got the quote at 19,100. So I bit the bullet and said, I'm gonna do it anyway. The bottom line, I'm only paying $14,300. And that's already, so picture, the container's already on the ship, already on the way over. The bottom line, the way this works is that when you're doing business, the many, they'll put it on the ship. If you don't pay the freight, you're not gonna get your goods because I still have to pay duty tax when it comes in. But that was a good contraction, a very fast contraction from where I got the quote, versus what the actual freight was. I said no, like 4,500 bucks. But just to give you an idea, two years ago, that same container was $1,750. Well, that's before COVID. So a little over two and a half years ago. So the difference is dramatic. There's no two ways about that. We're gonna take a look at the NVIDIA, NVDA. These chip stocks want a lot lower price, folks. They're bouncing around like crazy. But what you're gonna see here is that every time you get a bounce, I mean, it's pretty amazing that you had NVIDIA down to, in March, it was down to 306, I mean, 206. It bounced to 289 and now it's back at 225. And this also is coming back up with light volume. You'll build a couple days of cars and it looks to me that this baby's gonna basically bus loose. When I say bus loose, you know, these high volume lows out here are laying here at 208. And of course the high out there is a 346. And with NVIDIA, that's how NVIDIA likes to trade too. That's the thing that's absolutely bizarre about NVIDIA. Stay right there, folks, come right back. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels. From the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties that are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. 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The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Four-Side Fund Services, LLC. Hey, that's 1-877-927-6648. Internationally, at<PHONE_NUMBER>. I'm O'Brien. Welcome back, folks. Dow's up 350, Nasdaq's up 294, S&P's up 53. Yeah, let's go. And I can tell you, I just talked about the Discord room, folks, okay? Get over there. I'm telling you, there's so many great ideas. I mean, one of the traders in there is just basically saying, hey, GM's a confirmed ABC structure down. And it is. Check this out, man. This is saying quite a bit. This is actually pretty wild. So you can see quite clearly, let me do it this way. I'm gonna do it. This is an ABC down on the daily, an ABC down on the weekly.  So look at this. Your eight point here on this weekly, 55 going down to 39, right? So they call it 40. That's 15 points. That's gonna say that we're going to 31, or 40. Your B point on this was 25 million shares. You took it out with 29 million. Now look at this one. This is where this gets really interesting, because you put this in a weekly and it's like, okay, is the A right from the top to the bottom? It certainly can be. And that is saying 67 down to 40, okay? 27, 28 points, and then 28 off 46, okay? So you're talking about 18 bucks. And $18, actually this makes sense, interesting. Because $18, look at this, man. That's gonna be the top, $22 is the top, the highs are the low, and that's a high volume low. This is like, for all the talk about, you know, the amount of cars that you cannot buy, we have a problem in paradise here, folks. That's pretty intense. Let me look it forward and see if it's the same way. So we take a look at Ford, put this on a weekly, it is. Look at this, close that, this is, man. Yeah, we'll go into recession, man. Okay, so that's 25, 15, 10 bucks. That's saying seven bucks again. It's over here. Well, that is pretty intense. There's no doubt about it. TSLA, let's go take a look at Tesla. Tesla right now, let me put this on a weekly. Tesla's still hanging up there, man.  You are contracting on volume. There's no doubt about that. If we take a look at the, so Tesla only has a shot position of 3% right now, revenue-wise, they're gonna do 87 billion this year and they're gonna make $10.30 and 63 cents. The real kicker on the amount that we're all paying for gas, I'm sure these electric vehicles, they're gonna get a pop.  That's how they're shaking out. Let's go to the Goldbugs Index. Actually, I'm gonna go to the GDX. So the GDX has volume. We had looked at the XAU. So the GDX right now, it's just launching the tie and we're gonna need more volume on the GDX. Let's put this on a weekly. Bring this back a bit. Okay, so this swing over here, 134. Okay, so this is cool. So watch this. So the swing that's trying to take out is this 4013. Now we're over it right now, but this on a weekly basis. So the first time we're up here, I had 134 million. Then we came up with 224 and gave it up on price. When you do that, you've heard of me say this a million times. You go right back to upside again. Well, we're going back to upside. The number that's gotta launch and get away from is that 4013. We get that and we get big action. I'll go over to Neumont, because Neumont is driving all of these equities, meaning the XAU, the HUI, as well as the GDX, because it's the largest weighting in all of them. Now Neumont's starting to get there. I mean, the highs that it took out was 8075. We're at 8405, 07. Neumont also needs more volume. It just doesn't have it yet. Let's go to a Barrick, G-O-L-D, because the thing that's amazing about Barrick is that Wrangold, oh, is this the highs too? I don't think so. I think Neumont has a much higher high than this, I believe. I mean, Barrick, yeah, it does. Look at this, and whatever they did. So you get Barrick, that's a big legged. Look at this, 2011, we're up at a price point of 54, you're only at 25, and you get a lot of these equities. Look at E-G-O. This one looks like it's gonna be a little rocket chip, man. It's taking out a triple top. You're up 42 cents right now, and yeah, you get game here, man. It's not an ABC app, but this thing is game up to this 1449, and some of the silver stocks, yeah, endeavors moving. This is a personality stock, man. This thing can move. Like in five days, this stock just went up from 444 to 555. We put this on a weekly, oh, this is the one I was looking at, coming up to the triple top. OK, cool. But you can see the last time you were up here, you had volume, man. This thing wants to go. This thing wants to get up to this 595. We'll see if we get the volume to break topside. Let me put this on a monthly for a second. OK, it's pretty wild. 2011, you still had a 1310. So what's pretty wild about these gold folks is this. So picture this. This is what time does, which is really wild, is that 2011 was the last run in gold, OK, with 2022. Now watch this. GC, because I want to show you something, because in 2011, and this is where it comes into the aspect, OK, so let's bring this. I'll put this on a 20-year generic drive. Come on. OK, so 2011, we got to 1920, or 1976. Yeah, I see what it's doing. OK, we're still going to get away from that quite a bit. We're only 50 bucks over that. It's not there yet. We want to get over that level. What we are going to have, this is what is going to happen, though, certain goals, right, in order to get ore out of the ground, folks, it takes a huge amount of energy. Some of the energy gets done by hydro. So if it's hydro, bottom line, that's like there's not a cost structure into that, not a cost structure like oil. The ones that run on oil, that's what, that's going to be a lot of money, man. The ones that are natural gas, better. There are a few of them that are natural gas. So those are going to be the headwinds inside of the gold market in general. Because these energy costs are going to hit everywhere. Then the next thing that will be like, OK, where are you doing business? Are you doing business in Canada? You're doing business in Australia? You're doing business in Indonesia? You're doing business in Africa? Or are you doing business in Las Vegas? I mean, Nevada. Because Nevada has a huge amount of gold companies. No doubt about that. Say right there, folks, come right back. We have the Dow. The Dow industry is up 344, and as except 282, S&P's up 50. Don't forget about our man, Mr. Basil Chapman. He's going to be riding that wave for all the subscribers in 10 minutes.  Come right back, folks. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. 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The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the den and surround yourself with the sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our TFNN hosts live during their shows. Interact with other Tigers and Tigresses as they share trading ideas, news analysis, and discuss the market action all trading day. Subscribe to the Tiger's Den risk-free with our 30-day money-back guarantee and become part of the TFNN trading community. TFNN, educating investors. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to tfnn.com and hit Watch Tiger TV. Welcome back, folks to Dao. Dao Industries right now, 335. We get the NAS, I got 273. S&Ps are up 48. Let's go take a look at the industry volume out here with the SPY first, folks. SPY right now, we are trading up 480. Yeah, you get 61 million versus 84. So you don't have a juice in it and tomorrow will be less. We take a look at the NDX 100, the 3Qs. You're at 55 versus, I think, 74 or something. Yeah, 72, same type of setup. The Qs look like they may get into that gap tomorrow. I'm on it, we'll see how that shakes out. We do need more and more volume in the gold contract. It's holding price. We take a look at the small caps out here, the IWM. And that hasn't reached the high of yesterday, but that also has a contraction. 33 million versus, well, 19 million. That's the ETF volume. The industry volume is going to be a monster, meaning contraction. Right now, you're at 543 million versus 927. Now, that will do like 800, but we haven't done 800 in a long time, folks. Well, last time we did it on March 24th, you did it at 79. And prior to that, if we go back to, what is this, 5, 10, 15, 30, 45. So this is approximately two and a half months when you'll kind of look at it. It averages 21 trading days per month. That is a monster contraction, as is on the NASDAQ composite. This is going to be a big contraction. You're, well, maybe it won't be that big. We're at 4.3 right now. Now, we did 4.9. We did 4.9. We did 4.9. We did 4.9. We did 4.9. We did 4.9. Now, we did 4.9 yesterday. So that might be three, four minutes. That can do 4,500 million in three or four minutes at the close. We'll see what that one shakes out. But needless to say, what you can't expect out here tomorrow, you're going to get a big contraction of volume before we kick into the holiday weekend. Oh, gentlemen, the folks, they're back and Claudia had out the bull can run you over and thank God, there's always another trade. Health happens in prosperity. Have a great night. Have a safe night. Come back and visit Tommy tomorrow morning. Kicks us off 9 o'clock in the morning. Great show. Yeah, look at him, folks.


Hello and welcome to the session. I am Deepika and I am going to help you to solve the following question. The question says the mean of the following frequency distribution is 62.8 find the missing frequency x for the class 0 to 20 Frequency is 5 for the class 20 to 40 Frequency is 8 and for the class 40 to 60 It is x for 60 to 80. It is 10 for 80 to 100 It is 7 and for 100 to 120. It is 8 Now we know that by assumed mean method the mean of the group data is given by that is x bar is equal to a plus sigma fi ti over sigma fi Where a is the assumed mean and di is the difference between a and each of the x i's that is it is a deviation of a from each of the x i's and x i is the midpoint or class mark of the i th class and class mark is given by upper class limit plus lower class limit over 2 So this is a key idea behind our question We will take the help of this key idea to solve the above question So let's start the solution Now the mean of the following frequency distribution is given to us which is 62.8 and We have to find the missing frequency x Now here we will find the mean by the assumed mean method So for this let us first find out the class mark of each class Now we know that The class mark is given by upper class limit plus lower class limit upon 2 So the class mark of the class 0 to 20 is 0 plus 20 over 2 which is 10 similarly the class mark of the class 20 to 40 is 20 plus 40 over 2 which is 30 Similarly for the class 40 to 60 it is 50 For the class 60 to 80 it is 70 and for 80 to 100 It is 90 and for the class 100 to 120 it is 110 Now our next step is to choose one among the x i's as assumed mean So let us choose a is equal to 50 That is let us choose the assumed mean is equal to 50 Now we will find the difference Di between a and each of the x i's that is the deviation of a from each of the x i's So di is equal to x i Minus a now we have chosen a is equal to 50 So di is equal to x i minus 50 Now for the class 0 to 20 D1 is equal to x1 minus 50 that is 10 minus 50 which is equal to minus 40 Now for the class 20 to 40 D2 is equal to 30 minus 50 Which is minus 20 now for the class 40 to 60 D3 is equal to 0 and for the class 60 to 80 D4 is equal to 70 minus 50 which is 20 and For the fifth class D5 is equal to 90 minus 50 which is 40 and For the last class D6 is equal to 110 minus 50 which is equal to 60 Now we will find the product of di with the corresponding fi that is we will find out fi ti So for the class 0 to 20 F1 T1 is equal to minus 200 Now for the second class F2 D2 is equal to minus 116 for the third class it is 0 for the fourth class It is 240 for the fifth class. It is 280 and for the sixth class It is 480 Now we will find The sum of all the fi di's that is we will find out sigma fi di and this is equal to 640 now sigma fi is Equal to x plus 40 so we have Assumed being a is equal to 50 Sigma fi is Equal to x plus 40 and Sigma fi di is Equal to 640 So according to our key idea x bar is equal to a plus Sigma fi di over sigma fi Now in the question mean is given to us which is 62.8 So 62.8 is equal to a Which is 50 plus sigma fi di which is 640 Over sigma fi which is x plus 40 Now we will solve this equation so 62.8 is Equal to 50 Into x plus 40 Plus 640 over x plus 40 Or this can be written as 62.8 into x plus 40 is equal to 50 x plus 2000 plus 640 or This can be written as 62.8 x Plus 2500 12 is equal to 50 x plus 2640 or this can be written as 62.8 x minus 50 x is equal to 2640 minus 2500 12 or This can be written as 12.8 x is equal to 128 or x is equal to 128 over 12.8 Which is equal to 10 So the missing frequency x is equal to 10 Hence the answer for the above question is 10 So this completes our session. I hope the solution is clear to you. Bye and have a nice day


I'm stupider. That's yeah. Thank you. There you go It comes in packets now What did you see? Oh, I was just squirting the packets in their eyes into their chai Gross and today we are reacting to a little video. This is called why parenting India is so unique. Oh Interesting. Yeah. Okay. Um comedic I assume no, I think it's like a Information yeah, like info video. So once again, we do a bunch of these but if any information in here is incorrect We did not not our fault. We did not make we're reacting Creating this we are reacting to it. Yes So if the information is incorrect, you can yell yell in the comments Oh, yeah, not in us. Yeah, that's the video. Yeah, it was a dumb video I don't know but this got recommended unless we agree with something but then you can yell at us I'm guessing this is why I'm more like why parenting in India is different than other places I which makes sense and I believe I believe we've heard many things about that. Honestly, it's probably I Guess it's depending on who you're like who you're comparing it to and if it's modern or if it's Old school India parenting, right? Right, and it's different now. It's cultural regional. Yeah. Yeah, but it's a little video. Cool. Here we go. Let's see We've 25 million babies born each year. Holy It's easy to see that India knows a finger-two about parenting Or not Well, first off, there's the virtue of kindness and patience One of the biggest things Indian parents trying to teach their kids is kindness Little boys and girls are encouraged to be modest and nice to everything around them From strangers on the street to the smallest bugs they find in the yard Indians believe Account and an Instagram account even comment on videos that's true and that goes out the window Emotions and irritability is considered a big vice here The patient man will rule the world is the motto Indian parents teach their kids to live by controlled information What do you remember watching on TV when you were young a cat and mouse trying to Yes, well Indian parents wouldn't be too happy about that These sorts of borderline violent or silly cartoon or the line violent. No, that should be violent. Really Children usually watch programs about art and education. Tom and Jerry and let me see what our parents do to tablets either People in India firmly believe that the internet can be dangerous for children Now have a lot of screens in front of manners first Indian parents Irresponsible and Kids can't just throw a major tantrum and slam the door like a boss They want to be grounded for months on end You don't round somebody in diapers every child is taught to be respectful to their family members and Parents try to do everything they can to make the bond between siblings unbreakable They're also very particular about table etiquette Maybe toddlers can play with their food, but at 10 you'll definitely get it You know, they don't want you smelling your food manners make it mad eating your non with rice They eat with their hands in any way example How can a child be a wife and independent if their parents are rude and irresponsible? Indian parents are sure that their habits today are their children's future traits That's why they don't lecture the little ones But try to show them how everything's done by their own example Plus in India several families often live under one roof. So older generations never hesitate to show their children style Which is not the case here, correct strong child-parent bond Space is a privilege in India. So not that many children get their own room to themselves Indian moms also believe in attachment parenting.  Of course, it's pretty convenient If your baby is anxious wants to eat or needs. Yeah, I always scared me I know me too handle the problem right then and there this kind of co-sleeping Usually ends when a kid turns six or seven years six and this time together is believed to strike in the bond I'm with you my eyes Leland's already in his own room dose of independence Indian children usually start to work from a young age Fleeves tend to look in the fields and help with the animals while girls do chores and take care of their younger siblings Indian parents work kids to become independent It should be a no one is allowed to lie on the couch with a bag of chips and watch cartoons all day long Why of course parents don't just leave their children to deal with the challenge all by themselves They're always there in case their little one needs help The importance of education Yeah, every parent wants their child to be the best and Indian moms and dads are no different They pay close attention to their kids academic achievements and try to help them as much as they can along the way Indian parents want their children to be successful more than anything And what can open more doors for you than a good education, right? So strict playtime and study time rules are no surprise in an Indian house Believe it or not children often think their parents later for teaching them the value of self-discipline For many Indian people Spirituality is a huge part of life. It's what their parents taught them what their school encouraged and the essence of Who they are? From a very young age kids know their family rituals and to pardon them slowly exploring this side of life Indian parents believe that introducing their kids to spirituality right away helps them discover themselves And figure out the world around them. Well, that's one way to do it financial control When it comes to money Indian parents are anything but laid back. No, you don't need The logic behind this rule is very simple Indian parents want their children to know the value of money from Even if a kid gets some pocket money It's strictly controlled and they know they can't just splurge on that cool Pokemon t-shirt It's a pretty tough tactic, but it seems to be working all right Indian children grow up understanding that they have to work hard to achieve financial stability However, Indian parents also tend to pick their kids career path before they even start talking Of course, as you can imagine, this can cause some tension Especially if the child wants to do something else But in India family is everything so parents and kids find a common ground one way or another The influence of school it always works out school for the first time is a big day for the whole family And Indian schools do a good job of picking all the things that parents have taught their kids No matter what the difference is the families always work it out. That's true tolerance and push kids to uncover their true potential There's no concept of a favorite student here Every child receives tremendous support and approval The main task the school has for you is to better yourself every single day Teachers show kids that their main competition is not obviously always true Not somebody else and your parents are always there to catch you if you fall Right because every parent is supportive teaching valuable life lessons. That's pretty awesome indeed And what's the most important thing your parents taught you? Let's discuss it down in the comments Don't discuss it right now. Reck, what's the most important thing your parents taught you? How to properly zip up your zipper to not to not yeah, we we I did that once in my life And that's all it took that's the most important lesson. Yeah, my dad did it on purpose.  I said really he said yes, I took him off He said now put him back on but don't zip him up. I did and then he took the zipper and went I said I always said remember that I did I'd say it's I don't know if it's something I taught me, but it's because like I do have that question How often our allowance is given out? Yeah to Indian children because Obviously here in America. They are done sometimes not with my parents not with my kids My kids didn't get an allowance. Yeah, I didn't get an allowance. No, and I won't give me an allowance But I think that's a good thing. Yeah, I don't have a problem with it at all One if they right when I be if I needed something obviously they bought it for me, right not if I wanted something very different That was very different Christmas or birthday. Yeah, but uh when you get old enough to where you're like I want to go out with my friends. They're like get a job, right? I had a job by the age of 14 Want a car? Yep. Yeah, that's a good job. That's asking Alexis. It was you want a car?  Yeah, and I think it it definitely helped and I feel like that's more how India probably is Yeah, I think it's because I know a lot of Indian families are very you know, like they said financially Like they they know they control their money and they know where it's coming from and it obviously depends on what your economic Status is But I feel that's how it probably is mostly in India because I think it teaches kids to You know work for you what you what you want. Yeah. Well, obviously when you get out of the house You're gonna have to work for whatever Yeah, it does and it does because it's such a communal setting for the majority of Indians because you're living in a house of Six seven eight people Most of the time where it's all family members together. Is that the average? I don't know if that's the average But I know that that's really common. I think a household Their parents and their and the brothers and sisters of the parents So like like like an Andrani's house She grew up with her mother and dad and her mother and father's siblings And their kids in the same house in the same house. Wow. So her cousins She refers to as brother and sister because they've been together since they were little. It's no different It's just biologically.  It's one of the big reasons I have such a deep value for truth Which I think it's a pretty great value to heaven still on me, you know Obviously you should want people to tell the truth. Yeah Yeah, and that that that has interacted with everything the way I treat people a lot I'm a whole bunch of levels as well as the fear of god whenever he was mad at me.  My dad always let me screw in the back. That's good Yeah, like all kids do it's good Be open just let him screw in the back and abe driving the car and if I was screwing in the back Uh, rather than say rather than say hey ricky stop it.  I'll stop down With your own severed leg Well, this was fine. It was it seemed like it was more for kids. It was very broad very broad Generalistic simplistic, obviously There's just like you can't say specifically in america how parents parent because it varies based off region It varies based off household. Yeah, this house called parents even then that has sold down there Absolutely, but uh, some of the stuff obviously was true. Um, and I mean most of it was probably true But you can't just label it in general. No, I think they said in there that Indian parents don't reprimand their kids, which I I don't think is true There's a slightest not even remotely every literally every indian ever talked to Talks about how they were slapped or hit with objects growing up. That's a sandal. Yeah sandal belt something Just pretty standard fair and we've seen in the films that depict it that like slapping is almost a hobby a sport that they do Who could do the best slapping? Yeah, there was no slapping commentary with an indian Yeah, no, definitely. You won't lose Too much


Welcome to Toffey TV, it is the Everton News Daily. Yannach Balassie has admitted that he's determined to break back into the Everton squad and he hasn't given up hope. So he's working hard every day to basically try and change people's minds. Balassie was left out of the 25-man Everton Premier League squad despite the Blues only naming 23 players in it and he almost left for Middlesbrit on deadline day but he's still going to work hard and give it everything he's got. He said that he's still here, still alive and kicking. But on the back of that Middlesbrit report on North East that Middlesbrit are working on trying to get Balassie into the club in the January transfer window, Balassie's contract. And Godderson does expire on the 30th of June next season. So at the moment you would still expect him to move on in January. Paris Saint-Germain have confirmed that they have no option to buy Moise Keane next summer when his loan contract ends. He has scored five goals and seven games for the French champions since moving on loan from Everton in September. Leonardo, the Sport and Director at PSG said, Keane is an excellent player, very strong and we've had that eye on him for a while but there is no option to buy. He will be very expensive and the plan is for him to return to his club in the summer. Moise Keane'd also scored two goals for Everton this season as well before leaving on loan. Everton have sent out emails to fans to inform them that they will be consulted in a new survey about Bramley Mordoch. The survey targets matchday experiences at the new stadium and hospitality levels and things like that. What fans might be interested in is the club canvases for ideas moving ahead of building the new stadium schedule where expected to start in January. Everton still awaiting confirmation of plan and permission. Hopefully that will be granted next month. I guess this is an opportunity for fans to have to say on some of that stuff as we do move towards that prospect of the spay being in the ground in January for the club. You'd think definitely the way the economy is, the way things have gone with Covid that the government would be very, very keen to give a £1 billion contract like this, £1 billion build like this, to go ahead as soon as possible to create jobs in the local area, so fingers crossed on that one. And Richard Charleston has praised Carlo Anciolotti and said he will continue to improve under the Italian stewardship at Gooderson Park. Richard Charleston speaking to the Brazilian press ahead of the international duty said Anciolotti has already told me that I'm amongst the 10 best strikers he's ever coached and that is an honour for me and motivated me a lot. I want to improve even more. He's already told me I'll win the golden ball. I trust the man's word now I just need to improve, work hard in training and I'll continue to evolve. He also spoke about Evan T, mate, a lan who's also been called up to the Brazilian national squad and said, I'll always play with Alan. It's just for him to steal the ball and give it to me. Then I decide up front what to do with the ball. He's improved the level of our team since he moved to Everton. We took a very big leap with his arrival. Due to the good form of the team and due to him, he's managed to reach the national team again. I'm happy with him too. Alan will also fight to play because he's a hard worker. He fights for everything and I hope we can reap the fruit. I'm so delighted that Alan has joined him at Everton. That's it for the news day. Make sure you give the video a thumbs up, subscribe if you haven't. If you want more videos, join us on Patreon. See you later.


I'd like to express my gratitude to Lou Rockwell for his entrepreneurial genius and untiring efforts in building the Mises Institute into this intellectual powerhouse that it has become and to the Mises Institute staff for inviting me to participate in this important conference and to Paul Dietrich for sponsoring this lecture. We heard from Patrick Newman this morning about the rise of Brenton Woods in the operation of the Brenton Woods system where the dollar became the international reserve currency so I don't need to go over that idea again but I'll start with the breakup of Brenton Woods which he only touched upon. It was some expectation that when Brenton Woods system came to an end in the early 1970s that we'd move to something like a multi-polar as they called it multi-polar international reserve system and it turned out that this didn't happen. The Empire struck back and the dollar sort of miraculously reasserted itself during the the period from say 1982 to 2000. Again economists call this period especially the 1990s the great moderation where the dollar reasserted itself in its international status and I would go as far as to say that the dollar went beyond becoming just a reserve currency to becoming actually the unit of economic calculation for international trade and this has changed the way in which we should think about the future of the dollar and all the policy questions that have arisen in our discussions this week and so this is what I would just like to document for you in the talk and we'll leave it to the end to decide whether or not the you know the Death Star will be actually destroyed or whether you know some other scenario will be the final demise of the dollar. So let's start with this chart. This is a chart of the real S&P 500 S&P 500 normalized by the CPI and you could see these periods of that I'm working with these time periods that I'm working with so they on the left hand side it starts in the 1920s you see the build up to a 29 in the crash to the early 1930s and then and then the bottom that's reached after the war in June of 1949 and the conclusion from the you know economists when they see a graph like this they tend to think of capital accumulation or not the stock market you know generally moving up would indicate some degree of capital accumulation you could see that it was capital consumption during this period right and then we get this period from 49 to 66 January 1966 where the Dow base or the S&P 500 basically went up sort of steadily up you know went up and down but it's sort of trending up right this post-war boom and then the the breakup of Brenton Woods which begins really in the in this period of the late 1960s and I'm dating this to January 66 because that's what it seems to be indicated by the stock market movement right we get the bottom in June in 1982 and so again we get this period in 1970s of capital consumption perhaps but certainly not this sort of steady progress and then we see this progress renewed in this second wave of the rise of the Dow you know this re-constitution of the dollar standard to August of 2000 and the great moderation you can see in the 1990s the steeper and less jagged movement right and then and then suddenly it seems to falter again the dollar falters again and we get this renewed you know stock market crashes the dot-com bust and then and then the great recession and we're not really sure exactly what the fate of the stock market is going to be right we see this sort of boosting again but as was talked about yesterday this could just be the decoupling that we seen over time of financial markets from the real economy right and not not actual economic capital accumulation so that's the way I'm breaking up the periods so they're two faltering periods of the dollar the collapse of Brentwood's and then this post 2000 period and hopefully that re-orients now your minds to the differences between these two periods which is what I want to look at what what's causing the main difference between these two periods and now to see what the difference is let's just look at some other once we have these periods in mind look at this other data set so the blue is the annualized rate of change of the S&P 500 over these four periods these time periods that we looked at in the last graph and the orange is the annualized rate of change of real private product remaining which is the Austrian stand in for real GDP right and you can see you can see the difference the two periods of faltering of the dollar were periods of very low economic progress very low economic growth and the periods where the dollar you know was dominating the world monetary system versus a reserve currency and then if my claim is correct as a an actual unit of account of economic calculation we see much more robust growth economic growth and so that that's that's why these time periods are important and this is what I mean by the faltering of the dollar now let's add in the consumer price index and so this is the gray is the annualized rate of change of the consumer price index over these four time periods again and you can see some interesting things for example the the very extreme price inflation rates of the 1970s the first faltering of the dollar where it looks like it's on average the annualized change in the consumer price index was around 7% the gray bar right and then you could see that even though the we have found similarities in the growth rate that we mentioned in the last slide which is reproduced here again as the orange bar you can see that the rate of change of the CPI in the latest faltering of the dollar is quite low that the it's on target as the Fed would say close to 2% so so that's what that's the main difference that I'd like to call your attention to so how do we explain this well it turns out we can't explain it by looking at changes in the money stock so the the now gold bars are the true money supply and you can see again some interesting correlations right which is in the first two time periods of 47 to 66 and 66 to 82 the annualized rate of change in the true money supply is pretty similar and yet these two periods are quite different in terms of their economic growth right but more pertinent for for this talk is that you can see if you follow the next three time periods following the gray bars the price inflation indicator right you can see that it is steadily decreasing while if you pass your eyes over the gold bars and last three time periods you can see it's steadily increasing so actually there's an inverse relationship between faster growth of the true money supply and price inflation rates they're inversely related now this again arrests our attention to the main point that I want to stress which is as theory as we would know theoretically from Ludwig von Mises's work the rate of change in the purchasing power of money is determined in the same way as everything else in the market it's determined by demand and supply it's not determined by supply of a loan it's determined by demand and supply and so the question that we should pay attention to is where's the demand for money where's the demand for the dollar what's it what's happening to it to bring about this result given what you know is seeming inconsistency to explain it and well okay we know that the demand for the dollar is international and so we can split it between domestic demand and international demand right which gets us back to this very question that we've been looking at very intensely over over the conference and in order to get to this point I'm going to now turn to one of the great economists who specialize in the field of international trade and finance and in fact the one the Nobel memorial prize for his work in this field and this of course is none other than our friend Paul Krugman and Krugman Krugman is the archetypical example of what Friedrich Hayek had mentioned in his no Nobel speech where he said that you know the problem with giving economists Nobel prizes or Nobel memorial prizes is it creates hubris as Alex Bollack was talking about with the Fed and they think then that they can pronounce on anything you know they're expert in international but they're not an expert in all other fields of course this doesn't excuse Paul Krugman who doesn't seem to even be an expert in principles of economics you know that that's a different question but he said this very interesting thing is this is by the way a highly cited paper on the international role the dollar that he published in 1984 and he said this he said the future of the United States monetary system is largely a political question but the future of the international role the dollar is largely an economic one and again I would I would like to riff on this by saying that if I'm correct that the that the dollar has become essentially the unit of economic calculation for engaging in foreign trade transactions then it has a kind of status that it didn't have under Brenton Woods when it was merely a reserve currency it's still a reserve currency but now it's both whereas it didn't have this status before and that that I think it's important that we entertain this notion to to think correctly about the future of the dollar now I'm not sure you can see this okay but I just I cribbed this you know just lifted this from his paper if you can't see that this is the same thing blown up so he gets this nice little chart where he says look the demand the international demand for the dollar is both private and official or government and then he lists these subcategories according to the three functions of money right so medium of exchange a unit of account it's a store of value and just for a brief reference here it is easy to see perhaps what he means by invoicing on the unit of account right and a store of value he he's talking about banking's use of you know foreign banks use of the dollar in their you know transactions and so on the vehicle part of this he's talking about you international use of the dollar is a medium of exchange he's talking about forex exchange and right actual foreigners holding bank notes and things like this now in 1984 he concluded that it was still the reserve position of the dollar that was the most important source of the international demand for the dollar so he was still on the right hand side under this thinking that you know that's what we have to focus on is the reserve status of the dollar but actually again I would suggest that we need to move it and incorporate this other this other element so let's take a look at the evidence that I've compiled for this this is from Barry Eichengreen who put together a compilation of the currency composition of international reserves from 1947 almost the beginning of Bretton Woods up to 2015 and you can see the the solid line that moves up from the beginning is the U.S. dollar so you can see how it rises against the pound which is which is the dash line that's going down it's replacing the pound as the most important foreign currency reserve unit but you could see in about 1966 or so it reaches a peak the USD as a percent of the formally held reserves reaches a peak and then it falls and then it rebounds again it goes back up to about 1973 or so and the break in the data set is because the the compilation of the data was different and so there's a break there to indicate this and then you could see it begins to fall just like it's been doing over the last two decades right the percent of foreign exchange reserves by central banks that are held in form of dollar assets fell from about 1977 all the way to 1992 but remember what happened it's crossing over these two periods right it's falling at the end of the first faltering period of the dollar and then it continues to fall steadily through the rise of the dollar in the 80s and the 90s and so it's not really very well correlated with what's actually happening to the dollar's status internationally and then and therefore what's happening to the percing power of the dollar and so on and so forth so we shouldn't be my claim is we shouldn't be too concerned at the latter part of the drop off of the dollar now i want to go on to the evidence for the the status of the u.s dollar as a unit of account for economic calculation and this is from Rudy Judson who makes an estimate of the actual demand for u.s currency again as a percent of all holding of currency domestic and international of the dollar at home in abroad and here you can see the the solid black line is the is the estimate of all denominations of currency and you can see it sort of follows the same storyline that i'm suggesting it's flat in the 1970s to the early 80s and then and then the banknote holdings of foreigners start to increase as the dollar rebounds and then it decidedly increases in the early 1990s and then it starts to falter again in the late 90s that little blip is y2k you remember that remember the good old days when that was the thing we worried most about y2k yeah and then and then it sort of stabilizes or falls again to 2007 when the when the dollar is faltering again right we get these business cycles and so on and then it starts to pick up again and rises again so this is some evidence of better correlation than we have in reserve currency holdings this is way better correlation with the data sets we looked at before now this is the foreign holdings of us dollar banknotes uh this is the 4x exchange right where uh i'm sorry this is the continuation of the last uh slide where we take the data out to 2023 and you can see it's still rising right so the previous graph stopped at 2016 just to settle the point this is the foreign exchange turnover by currency and you can see it's steady the foreign exchange by currency is this figure of a 90% or 80 plus percent says that um on almost 90% of all foreign exchange transactions the dollar is on one side of the trade and that hasn't changed that's been stable right and this is the share of export invoicing remember Krugman said let's look at invoices let's look at vehicle holdings right uh so very high and stable percentages of dollars in invoicing in the americas in the asia in the rest of the world everywhere but europe where the euro dominates this is international banking claims steady right the blue line at the top is steady dollar holdings this is liabilities of the banks international bank liabilities are still dominate dominated by dollars and this is the share of foreign exchange debt issuance where we do see some some drop-off right of the dollars uh uh share uh in in the uh recent period and so what do we uh conclude from all of this uh well my conclusion is that uh we we should take this into account i think i think the data speaks to the uh this issue that the dollar has really um become more important in international trade and has in fact become a a medium of exchange for foreign trade uh transactions for exchange in foreign currencies because of course all businesses would like to be able to do their accounting international trade accounting in one currency right and so the the dollar dominates this and it gives it gives a greater a greater hold of the dollar's importance internationally and therefore the demand for the dollar internationally and support them of the dollar uh continuing as a uh as a uh you know in its status as a important international currency regardless of what happens to its reserve status now again i don't know what this means for the death star blowing up or not blowing up but i think uh this is an important element in our thinking out exactly how the future will play out so thank you very much for your kind attention thank you


I was unhappy, but comfortable, real estate investor who found joy and happiness through great occasion. Although I had everything I felt needed, I had a comfortable, beautiful house, investment properties and managing them. Although I did those things, I couldn't remove this sense of loneliness and deepest feeling of sadness inside. My name is Ilchi Ruko Tad. I'm a president at Sedona Margo Retreat Center in Sedona, Arizona. How did I get involved with brain education? I was in search for myself for a long time. Only I didn't know where to look. So when it came to the time that my friend became an instructor for brain education, I visited there. One was, I was expecting maybe that this will help me to feel happiness inside of me. And other was just to support her. And I went to the class for the first time with her and my entire life changed after that. The class helped me to relax my brain so much and I felt like I just went through massage. So I was really happy. And when I took the class, I didn't know what made the class so special because I went to different type of yoga classes or movement classes, but I really didn't like it. But this class only, I loved it. And I didn't know why I loved it so much. I realized that they were simply sharing. If I have to say in one word what that was or maybe two words, unconditional love. That was the key to turn my life around. And ever since then, I took classes a lot. And the next thing I knew, I was sharing the classes to many people. So another event that led me to be so much deeply involved with brain education was when I visited my mom at the retreat center and took a course that is related to brain education. There, I felt the sense of being one with me, who I truly am in the deepest level, which I cannot explain with words, but only be felt through connectedness with self and that turns into the connectedness with everyone. I began to be the person who shared this experience to every person I meet. And that has been the most joyful thing in my life. So that is how I began sharing brain education. Although I had everything I felt needed, I used to go on vacation and traveled to different places. I had a comfortable, beautiful house, a few investment properties and managing them. I had people who cared so much who loved me. Although I did those things, I couldn't remove this sense of loneliness and deepest feeling of sadness inside. I was miserable, comfortable, unhappy, real estate investor. And when I met brain education, my whole world changed. So when I met brain education, I began to become joyful and happy, just being myself. So what was the major change? I began to look within myself for happiness, where all my life I thought happiness was obtaining something or getting something from outside. I was able to detach myself from that loneliness or sadness or anger or all of that emotions that made me confused and frustrated. But being able to, without running away from it, I was able to observe it and even embrace it, hear it, love it and able to let go and focus on what matters to me most, which is connecting to myself. And it sounds a little bit selfish, just focus on yourself, isn't it? But the one who cannot focus, does truly focus on self, cannot focus on others. So being able to focus on myself truly is actually love and loving yourself. So when you can love yourself as you are, you can love others too for who they truly are.  With that, I was able to take back my brain and seeing everything from that mindset. So no longer being the victim of environment and circumstances, that I'm making everything. With that, my life feels hopeful and I can share what I truly choose and deliver it in creating my life intentionally. The suggestion to the daily practice, before you do any practice, I suggest that every moment you want to check in with yourself where your mind is. So no matter how many great things you may be doing and how many times you do practice, when you're missing this mindset, you could be not happy or miserable doing it. So my recommendation is to stop and breathe and connect, talk to that self existing inside.  Please communicate with that true nature and intentionally choose this bright mind or a bright consciousness.   So that is my recommendation for any practice. I was unhappy but comfortable real estate investor who found joy and happiness through brain vacation.


So the four things I would never do as a criminal defense attorney that you should save or screenshot this so you have it for future reference to share with your friends. Number one, I would not call the police unless I was ready to have someone arrest it. Number two, I would not argue with the police. Which leads me to number three, you're not going to talk your way out of an arrest, so invoke your right to remain silent. And number four, I would never hold my friend's medication or mine outside of the designated container.


Hello friends, let's discuss the following question. It says find the angle between the x-axis and the line joining the points 3 minus 1 and 4 minus 2. For this we need to know the slope of the line, joining the points say x1, y1 and x2, y2 is given by y2 minus y1 upon x2 minus x1. This is denoted by m and this is equal to tan theta, where theta is the angle made by the line with the positive direction of the x-axis. So this knowledge will work as the idea. Let us now proceed on with the solution. Given points are a3 minus 1 and b4 minus 2. Now the slope of the line joining the points 3 minus 1 and 4 minus 2 is given by minus 2 minus minus 1 upon 4 minus 3 and this is equal to minus 1. And slope of the line is tan theta that is the angle made by the line with the positive direction of the x-axis. Now we know that tan 45 degrees is 1 and since tan theta is equal to minus 1, so this implies tan theta is equal to tan 90 plus 45 degrees that means tan 135 degrees. So this implies theta is equal to 135 degrees. Hence the angle between the line joining these two points and x-axis is 135 degrees. So this completes the question. Hope you enjoyed the session. Goodbye and take care.


Live from Orlando, Florida, it's theCUBE. Covering Grace Hopper's Celebration of Women in Computing, brought to you by SiliconANGLE Media. Welcome back to theCUBE's coverage of the Grace Hopper Conference here in Orlando, Florida. I'm your host, Rebecca Knight. We are joined by Rajee Arasu. She is the CTO of Development at Intuit. And also by Mariana Tessel. She is the Chief Product Officer at Intuit. So thank you both for joining us. You got the title wrong. Oh no! What, what did you do? Please correct me. It's SVP. SVP. SVP of our organization is called CTO Dev. And I manage the platform and infrastructure services for our... Great, so now we've got that under control. So tell me a little bit about your background. We'll start with you, Rajee, about how you got into this business. I have been about 27 years in the consumer and retail space. And a ton of background are on e-commerce and payments. This is actually my first job, sort of focusing on platform and core services for the company. A huge responsibility. My job is not just to provide and delightful services for my, both my internal and external customers, but to really make sure that we are really thinking about the future and the capabilities that they're building for the future. So I'm super excited about my role at Intuit. How about you, Mariana? First of all, thanks for having me here. And I have to confess, this is my first time at the Grace Hopper Conference. That's wonderful, that's great. And I'm completely blown away from the wonderful people here and the representation and the energy. So I'm now a fan. So I just want to say that, you know, I, my background has always been engineering. I've done multiple engineering roles. I actually, before this, I spent a lot of time in systems and infrastructure. And I really get a kick right now of out of using some of the products I've built into actually using them in other products and seeing how customers are using it. So that's an interesting kind of journey and interesting to see kind of full picture of kind of the industry. Both of you, and we are here at Grace Hopper, which is the celebration of women in computing. And both of you are passionate about, about creating a more inclusive engineering culture. Can you talk about why, why this is a passion project of yours? And then also what you're doing to help that happen. Raji? I think, I mean, Grace Hopper, this is my seventh year in the conference. And I love it.  She's a virgin.  I'm like boy, absolutely. And I think it's such a joy because it not only, I have started to recognize some familiar faces. It's a fantastic opportunity for us to network with women in technology and talk about actually what's core is not just the issue around fixing the numbers, but actually we talk about capabilities and building what's really important for a craft. And so I'm actually excited about that. The more and more I see, we have about 112 people attending from Intuit and a ton of men as well participating in that. But a lot of people are going to be talking about things that are very core to us, like data engineering, data science, architecture, services-oriented journey and all of that, which is awesome because I think that's what people want to hear, the work that we do, and they want to understand what would be like to work at Intuit. So there's a ton of opportunity for companies and for individuals who work there to really show what they do every day and really connect in a very authentic way and show off their work more than actually be really talking about the Uber problem that many of us do care about that as well. But I see down here, especially where we are sitting, everybody's connecting on what they work, what is the work that I'm going to do or what's the stuff that actually interests me, which I think is pretty cool. During the keynote, Melinda Gates had a very quotable quote and she said, not every idea is wrapped in a hoodie, not every good idea is wrapped in a hoodie and this is really bemoaning the programmer culture. Is that message getting through, do you think, to young women in the sense of, this is not all the sea of white dudes? You know, I think it is, but there's still work to do both for women that enter the field as well as women that been here for a while and there's still plenty of opportunity. So the culture is definitely, at least I mean, I'll have to tell you that, again, being a bit in the industry now and gaining a bit of a perspective, just the fact that it's been talked about and the fact that there's more energy towards solving it is already a great win. And to your question before, if I can jump on that as well. This whole idea of diversity in the workplace, there's nothing, I don't know, there's much to say there beyond what's already said about how it's good for businesses, how the customers of many of the, I know definitely for us in the small businesses, a lot of our customers are diverse and we want to have diverse people build product for our customers, right? So all of these are true, it makes sense for the business, but I can tell you from my own lens and my own kind of perspective and experience, women are just awesome and they make outstanding engineers, outstanding leaders and every time I have a group that has all sorts of people, again, all kind of diversity, it's just a stronger group. So some of it, I love to have a diverse team, selflessly because it's an awesome team and that's kind of what I think we should all be pursuing, just be awesome, not just diverse. So you're passionate about getting more women into this industry, keeping them, retaining them in the industry, but tell me a little bit about the tech, I mean because that was obviously your first love and that's why you do what you do. So tell me about what you're working on that's really exciting to you and into it. I think, as I look at my past, one of the things that always excited me is to work on complex stuff that actually makes a difference in the world and it started fairly early on in my career where I started to, when I worked at eBay, it was about actually connecting to our customers and sellers and having that sort of a social impact. Moving on to Stubbub, it was a lot about actually entertainment and how do you really get people to the game and that perfect evening they were looking for and then moving on to Intuit, it's about making that financial freedom possible for many of our customers. And I think when I look at that, for Intuit there's a huge opportunity which we are all actively working on is to start looking at our data and be able to create some delightful customer experiences for our people and to really give them more time and more money at the end of the day. And I think, and that sort of confidence in our own products about the decisions we make for them and the expertise that we provide. And so as part of that, a lot of that can only come alive with technology. So when we start to look at that, the, you know, there's a huge focus within the company on building great tools for our developers so they can move faster. There's a huge focus on trying to do AI and machine learning on our data and looking at what we can do to personalize our experiences for our customers and reduce friction in the flow. There's a ton of work that's being done there. And I also think that we, we're very excited about our journey to the cloud and having gone through a whole services, you know, oriented architecture, re-architecture that we have been embarked on for many years. So I think really, really there's a ton of good work that's happening inside with all towards the focus of servicing the customer. So there's a ton of conversations that we have around customer empathy and then all of the technology towards making the lives of our customers better from a financial perspective. So this- And giving them back more time and money, as you said. Absolutely, absolutely. Yes, absolutely. If I can add to that, like our mission as a company is to power prosperity around the world.  But as Raju was saying, it's even awesome when you get to connect technology to a mission that is really inspiring like this and is really something we put in practice. You know, I'll talk specifically in one of my products, QuickBooks Online QBO. You know, we have a lot of the problems that involve the challenges. We should call it a problem. Challenges that many of the SaaS companies are facing in terms of scale, in terms of velocity. How are we doing DevOps in the most modern way? What's our CI CD pipeline look like? How do we use, we have all this great data. How do we use the right data? Because obviously we're on a respect privacy. How do we use the right data to giving even more value to our, getting more value to our customers? How do we apply machine learning and AI and you know, et cetera to make it even more interesting because we have some touch with financial data. There's a lot of view on security and what we do there. So lots of problems to solve in that are deep technical problems. Lots of modern technology. Some that other that we have to look at but really interesting set of challenges from all the way to, it's close to the infrastructure, all the way to the UI and some really cool things that we've been there. I think that's a really great point in the fact that as you're women technologists, so you face issues of biases and sexism in the industry but as technologists, as human technologists, you face questions about am I looking at the right data? Is this data secure? Am I doing enough around privacy? Do you think that this conference does enough to acknowledge both sides of this coin in the sense that you are technical leaders in your field and you are here at a tech conference but then you're also here to rally around this issue of getting more women and retaining more women in the industry? What do you think? I think when I am in the booths here, I sense it. I sense that we're talking about the real problems around technology, the conversations around the specialties that are required in data science or maybe architecture, maybe engineering, I mean any parts of that, we do have those conversations. I think at the keynotes and maybe at the higher level, it's a lot more about developing women and addressing the problem and probably building leadership. So there's probably two flavors that you find in this conference, which I think cater to different sets of women and some about staying in the field and not sort of dealing with the problems that we have. So I think it does, but I think it'd be awesome to have a panel where we have very differing points of view on a technology and having a really good debate about that, which would be really cool. I think if we add something like that, I don't know if it's in our curriculum. I am definitely not aware of everything in our curriculum, but it'd be cool to have a panel like that, which is debate, yeah. I want to wrap up here, but I want to ask, what is your best advice for aspiring women in this field? And it could be someone who's just starting her computer science journey in college or it could be someone who maybe is feeling as though, do I stay in this field? I don't know if this is for me. What would you say to that young woman?  Stick with it, it's hard and breezy. I love that, I mean, I want to definitely second Mariana saying, don't be afraid of failures, take it on and use that as an opportunity to convert that into success in the next opportunity that you have. I think the part that I would also say is for tech, being a leader in tech and staying true to it, you've got to have a learning mindset. Every single day you come in, you've got to learn new skills, you have to be open to change and constant change and if you learn and every one of us has different ways to learn, you know, some of us learn through conversations, some of us to learn through reading papers, whatever that might be, but if you do that, you will stay as a credible and relevant leader for the longer run. The growth mindset. Absolutely. Well, Raji Mariana, thank you so much for joining us. It's been a lot of fun. Thank you for having us. I'm Rebecca Knight here at the Grace Hopper Conference. We will have more just after this.