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Gold Is Best Bought Before the Next Economic Crisis

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: The best time to buy gold is before a crisis, how the Basel III agreement could impact short- and long-term gold prices, and finding a balance between gold and bitcoin.

Expert forecasts $3,000 gold, says best time to buy is before economic crisis

Adam Trexler, founder and president of gold investment company Valaurum, discussed the risks facing today’s economy. Trexler told Kitco News,

The best time to buy gold is before a crisis. This is now a really good time for people to be stocking up, as it were. Because in the event of widespread inflation, we think the gold price will go up much more.

Like many market observers, Trexler is aware that a perfect storm for gold is brewing, combining extreme inflationary risks and a slow-to-react Federal Reserve. Trexler uses the example of his own company’s expenses, such as those including raw materials, going up by double-digit percentages. In addition, the historically-overvalued stock market seems particularly vulnerable to a severe correction.

Trexler thinks this could be the start of a cycle where the already massively indebted federal government ramps up spending even more, abetted by a Federal Reserve that isn’t particularly concerned about inflation or U.S. dollar debasement. He sees an inflation rate of 5% to 10% as realistic targets, and believes such a spike will catch most unseasoned investors off-guard and have widespread consequences on society in general:

When you start to see that rate of inflation, it will be very damaging for people on a fixed income. It will make savings very problematic. What you will have is a fundamental loss of wealth for people’s savings. You’ll also tend to see a lag between inflation and people’s salaries. That could lead to a decline in real wealth. It’s also a potential ingredient for greater social upheaval.

Forecasting greater demand for gold as the dollar becomes increasingly risky, Trexler thinks gold could jump to $2,500 with a possible $3,000 target should inflation indeed move to 10% or higher. Other significant drivers in the market that gold investors ought to look out for include an influx of Western buyers, a recovery in Asian gold demand and the ongoing threat of a stock market correction. Trexler also said that both investors and sovereign nations are treating gold as a hedge against currency risks. In summary:

I am looking to diversify further, take more of a defensive position, and allocate more funds to gold, cash on hand, and safe-haven assets. There’s a risk of a major market correction. So now is a good time to consider taking more profits and take a more defensive position.

Taking risk off the table and diversifying with inflation-resistant, safe-haven gold might be excellent advice for many investors right now.

Basel III and gold prices: a historical perspective

A lot has been said about the Bank of International Settlements’ Basel III accord, an agreement to be implemented at the end of June which will draw a clear line between physical and paper gold. As we summarized previously:

Here’s the problematic change: banks would no longer be able to consider liabilities to deliver “unallocated” precious metals as part of their reserves. Which means banks would only be able to trade precious metals they actually physically hold (and not allocated gold or silver — remember, that belongs to the customer).

The agreement states only allocated physical gold is a 0% risk asset, which is expected to subdue derivatives trading and push the metal’s prices higher. While these expectations are indeed reasonable, investors could be surprised by an initial pullback in gold prices.

There has been a lot of pushback against the agreement, including from sources you might not expect, including both the World Gold Council and the London Bullion Market Association.

On the other hand, banks seem to be enthusiastic proponents of Basel III, which seems to go against their bottom line at first glance.

Here’s the crux: If BIS staff believe that demand for paper gold is driving the gold price (and not the other way around), they might Basel III as a way to subdue gold and push its price down.

That was the thinking way back in 1971, when ” pro-paper economists” thought that untethering the U.S. dollar from gold would plunge the per-ounce price below the fixed rate of $35, possibly as low as $10. The pro-paper economists had it backwards. The idea that demand for dollars supports gold prices and not the other way around met with reality. Gold jumped to 350% by early 1973. It’s important to note, the spike in prices was not immediate. First, gold fell by 6% within two weeks after the untethering, and by 11% within 10 months after President Ford’s bill was signed.

This was the result of paper gold subduing gold prices for a lengthy period, which the Basel III is effectively attempting to eliminate.

Nonetheless, the delay in price response shows that markets do not respond immediately to obvious setups. History tells us it would be prudent for gold investors to prepare for a short-term dip after Basel III comes into effect (and perhaps make good use of it to buy the dip).

Because there is nothing to suppress prices this time around, the price jump delay will probably be much shorter, and the real aftermath of the agreement? Well, from 1971-1973 gold rose 350%…

Gold or bitcoin: why not choose both?

Forbes contributor Frank Holmes believes that gold and bitcoin go well together, and that holding both should be a consideration for every investor because of inflation rising across the board. Holmes cites two famous hedge fund managers, Paul Tudor Jones and Ray Dalio, as examples of how and why investors should bring the two assets together.

Paul Tudor Jones, a well-known cryptocurrency proponent, said two years ago that gold was his favorite trade over the next 12 to 24 months, noting that the metal had everything going for it. Jones was correct, and gold would slowly march to a new all-time high of $2,070 in August. Jones is just as bullish on gold now, if not more so, saying that Federal Reserve policies are causing him to allocate diversify into bitcoin, gold and other commodities, specifically, “5% in gold, 5% in Bitcoin, 5% in cash, 5% in commodities.”

Dalio, on the other hand, is one of gold’s most notable proponents, and his fund’s outperformance ties heavily into the money manager’s belief in and exposure to the precious metals sector. Yet in recent comments, he surprised investors by saying he’d prefer to own Bitcoin over bonds as a hedge due to the lack of yields on the latter.

Comparing bitcoin to a safe-haven like bonds might seem odd, but not when one takes into account the latest report by Bloomberg commodity strategist Mike McGlone. McGlone showed that a straightforward 80/20 index of metals and cryptos has not only beaten the tech-heavy Nasdaq-100 since August 2017, but has also done so with less volatility.

​

Possibly the relatively low-volatility, safe-haven characteristics of gold make it a perfect complement for the high-volatility, sentiment-driven cryptocurrency market?

Weekly Breakdown - June 21st - June 28th

*Although I sometimes make minor adjustments where I see fit (to make for an easier read), the bullet points featured below are taken from article bodies and headlines. If you want any of the source links, feel free to pm me ;)

Bullish breakdown:

• The Central American nation of El Salvador is preparing to give away as much as $135 million worth of Bitcoin to its citizens. (Daily Hodl Staff, the daily hodl)

• Colombian capital supports blockchain and emerging tech with $2.3M fund. (Helen Partz, cointelegraph)

• The favorite to become the new mayor of New York City promised to make it a different place to live, including becoming the “center of bitcoins.” (Jordan Lyanchev, cryptopotato)

• Over the next three years, 50,000 EV charging stations across Europe will start accepting crypto payments. (Brian Quarmby, cointelegraph)

• Reportedly, only 28% of Bitcoin held left crypto exchanges in a year despite nearly 50% BTC slump. (Samuel Town, finbold)

• Tanzania’s central bank is looking to reverse its decision to ban cryptocurrencies in the country following President Samia Suluhu Hassan’s directive. (Ryan James, beincrypto)

• Venture Capital firm Andreessen Horowitz announced the raising of a new $2.2 billion fund that will be channeled towards cryptocurrency investment. (Samuel Town, finbold)

• Jack Dorsey, CEO of Twitter and Square, announced a Bitcoin conference called the "The B Word." Elon Musk, CEO of Tesla, has also agreed to discuss Bitcoin with Dorsey when the event takes place next month. (Mike Dalton, crypto briefing)

• The Iranian government appeared to be softening its stance on cryptocurrency mining after reportedly approving licenses for several mining farms. (Samuel Town, finbold)

Bearish breakdown

• Bitcoin's price fell back to monthly lows as crypto market cap evaporated $160B (Jordan Lyanchev, cryptopotato)

• JPMorgan estimated that Bitcoin’s medium-term fair value could be between $23,000 and $35,000.

• The UK's Metropolitan Police said Thursday that it seized £114 million in cryptocurrency — an amount worth about $158 million — as part of an ongoing criminal investigation. (Michael McSweeney, theblockcrypto)

• A recent report from the Annual Economic Report came with several insults on Bitcoin. According to the report, crypto is not money but a speculative asset. (Best Owie, newsbtc)

Sorry for posting this a day late. It's still unclear the direction in which Bitcoin will eventually go, but people are predicting a sharp turn in either direction. In any case, I'm just here to give you both sides of the coin. Long live the bulls!

In the event of the rise and fall of the bitcoin currency, what next?

After a marvelous flood in April 2021 which had permitted Bitcoin to arrive at a record worth of 64,000 dollars, its cost was divided only two months after the fact, to get back to a worth near that known in January 2021. Fantastic instability influencing numerous digital currencies, with a market capitalization that lost a fourth of its complete worth in June 2021 alone. Turns with numerous causes and results that are not just the shortcoming of Elon Musk. Causes fundamentally from China and the United States Several variables may clarify why Bitcoin, which addresses 47% of the worldwide crypto capitalization, has quite recently fallen essentially beneath the $ 30,000 edge, just to fall back to values ​​equivalent to those of January 2021 . One of them, the most genuine, comes from China. Beijing has essentially expanded the tone against crypto mining in its region in June 2021. The conventional restriction on crypto-mining in the two principle delivering regions, Xinjiang and Sichuan, presently stretched out to the entire nation, is a horrible hit to Bitcoin, which is 80% sabotaged in the Middle Kingdom. Restless, in addition to other things, to accelerate the execution of its ecological strategy, to accomplish carbon impartiality in 2060, Xi Jinping's administration isn't tarrying. Another significant reason is essentially the unpredictability of Bitcoin, which is vital as a rule and especially highlighted for the current year by Elon Musk's tweets. The last mentioned, from the United States, figured out how to consistently increment or decline the worth of Bitcoin with a basic tweet on the informal community. Profiting with the absence of guidelines of cryptos, Musk's comments, generally talking in the interest of Tesla, have at times made the cost of Bitcoin vary by 10% fifty-fifty per day. At long last, it's anything but a validity issue that impacts the cost of Bitcoin. The reception of this crypto as cash having legitimate delicate similarly as the American dollar in El Salvador doesn't pass for the World Bank and doesn't go for the increment of its worth. Moreover, as indicated by Les Echos referring to a Bank of America-Merrill Lynch study, 81% of resource directors studied in June 2021 ($ 667 billion in market capitalization gathered) consider that Bitcoin is today a monetary air pocket. . What to place lead in the wing of the crypto. Outcomes everywhere in the world The new choice of China, corresponded with the fall in the cost of Bitcoin, strikes over every one of the diggers, predominantly Chinese, who can presently don't take part in the innovative action of Bitcoin, just as another crypto. On the negative side, many positions will vanish following the conclusion of organizations spend significant time in mining. 172 000 exchanging accounts on particular stages have effectively shut since last Sunday. Another adverse consequence concerns people depending on Bitcoin exchanging to make a decent living, since the value, which tumbled to $ 26,400 on Monday, June 21, is the greater part however high as it seemed to be two months prior. Enough to create numerous frenzy deals among those generally subject to pressure, a response that won't stop the overall fall in the cost of Bitcoin, an incredible opposite. From a positive perspective, in any case, Bitcoin, which utilizes more energy, ought to decrease its carbon sway for some time. This could likewise energize considering mining that utilizes less power, conceivably through energy created more practically than as of now. the fall in the cost of Bitcoin could well progress forward a bigger scope, the developing vulnerability encompassing the fate of a crypto like Bitcoin, forthcoming answers for its mining, come off on all digital currencies. This prompts an expansion in instability, which indeed expands vulnerability about them. There is by all accounts a genuine doubt of computerized monetary forms and the ten world debuts have seen their costs fall by 18 to 25% in June alone. What's more, the dip under the mental limit of $ 30,000 for Bitcoin, notwithstanding the most recent measures from the Chinese government, implies that the fall in its cost may not stop there. Novices and experts the same should have solid backs… Especially since Elon Musk has not tweeted for a couple of days on crypto. Until when?

In the event of the rise and fall of the bitcoin currency, what next? (x-post from /r/Bitcoin)

https://www.reddit.com/r/Bitcoin/comments/oa04v0/in_the_event_of_the_rise_and_fall_of_the_bitcoin/

Help understanding supercharger event (Bitcoin)

I joined the Bitcoin supercharger mining pool because I had a bunch of CRO just sitting around ~1,000 CRO

I added all of this to the pool, but have no idea how to calculate my earnings. Can anyone dumb it down for me? Thanks!

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Jack Dorsey and Elon Musk will discuss bitcoin at an upcoming event, and 5 other key crypto moments from the past week (x-post from /r/Cryptocurrency)

https://www.reddit.com/r/CryptoCurrency/comments/o9wj36/jack_dorsey_and_elon_musk_will_discuss_bitcoin_at/

TLC: THROUGH THE LOOKING GLASS: An APES guide to the galaxy. PART 3

TLC: THROUGH THE LOOKING GLASS:

AN APES GUIDE TO THE GALAXY PART 3

​

Mobile Edition & full PDF: https://docs.google.com/document/d/1eqtb73SLsvJzA6hpvmUhAzDE4AqKM3QXxvI4S0I7AMI/edit?usp=sharing

PART 1 PART 2 PART 3

------------------------------------------------------------------------------------------------------------------------------------------------

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Think Ying & Yang

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https://preview.redd.it/510lhy5f23871.png?width=512&format=png&auto=webp&s=db27f686d997ea3a704992fcc2d6f66b756a012b

Quick fire question: How many boxes does a hedgie fill in to qualify to turn it on?

You decide

• Accelerate your decisions, right now

Qatalyst applies quantum techniques to enhance the quality and performance of classical computations. Right now.

• Faster, better optimization results

Improve the performance and range of solutions for your real-world constrained optimization problems, even on classical computers

• No quantum expertise required

SMEs and programmers solve their first complex problems within a week, as compared to 6-12 months with quantum software toolkits requiring complex programming.

• Simple access to diverse QPUs

Immediately access the power of quantum across diverse QPU vendors, in the cloud. No need for low-level coding, no on-premise requirements.

Answer: >Meow<

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https://preview.redd.it/r4i3ehcg23871.png?width=1327&format=png&auto=webp&s=22518fb2a64909ef00462ed34f34ffc3668fad74

And lastly, this little nugget; QATALYST

Now before we take a bit of a deeper look into Qatalyst I just wanted to cover,

D-Wave isn’t some kind of fantasy futuristic technology, plenty of well known companies already use the software and technology.

Companies like google and NASA use it

Skimming through having a glance like the many sites before it, I picked up on something interesting. Every now and again Qatalyst kept popping up.

Hedgie probably would have been better going down these wiki links instead lol,

https://en.wikipedia.org/wiki/Mathematical_finance#Risk_and_portfolio_management:_the_P_world

https://en.wikipedia.org/wiki/Outline_of_finance#Quantitative_investing

I mean I don't know how hard it is to research, laziness just I guess? Especially if it's not your money you're playing with…….

I digress…..

And so that leads us into…..

​

​

CHAPTER 4:

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HFT (high frequency trading)

https://www.quantumcomputinginc.com/products

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https://preview.redd.it/uladpqeh23871.jpg?width=1146&format=pjpg&auto=webp&s=80eda814dfffbdf1e14774f962fc8c8a0d4dde7a

Quantum power, no complexity

Qatalyst bridges the power of quantum to enhance classical computing performance and quality of results.

State-of-the-art computational optimization

Qatalyst features a variety of complex mathematical modules to prepare, optimize, iterate, and solve complex computations.

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Quantum-ready decisions, Right now.

Featuring state-of-the-art quantum-ready computational engines, the Core accelerates your time-to-results while delivering more and better solutions for your optimization problems.

The Core integrates specialized mathematical operations with complex constrained optimization techniques to deliver fast, excellent results.

It automatically transforms today’s real-world problems into quantum-ready requests and processes those requests on classical and/or quantum processors. No programming required.

You stay focused on solving your problems, not learning a complicated new programming paradigm and complex mathematical operations.

https://www.quantumcomputinginc.com/news/qci-applies-quantum-software-across-six-business-segments

https://www.quantumcomputinginc.com/products

“The hype around quantum computing is real--as is the potential for quantum to transform the way we use complex computational techniques to fuel more informed business decisions.

‍

But it may be years before quantum processors are readily available.

‍

Is there anything that can be done in the meantime to position your business to take advantage of this game-changing technology?

‍

The answer is an unequivocal YES and this Executive Brief outlines three ways you can prepare your business today to be ready for quantum tomorrow.”

https://www.quantumcomputinginc.com/three-ways-to-make-your-business-quantum-ready

ThEy HaVe a GUiDe And EvEryThing foR yOu to LoOk u/MiT_SloaN

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https://preview.redd.it/ihhy12ji23871.png?width=612&format=png&auto=webp&s=f7f52421db849f0e8360fa3c752ae50660ddd0ea

Now i'm intrigued we gotta google more about this:

https://finance.yahoo.com/news/quantum-computing-inc-enters-3-123100059.html

​

Seems like QCI are the top dogs of quantum computations if you have a fondness of simulated annealing then I take it?

QCI 2020 shareholder letter:

https://assets.website-files.com/600b3b85ede46863c1131e0e/601c97df775058636dcb4d11_QCI-Shareholder-Letter.pdf

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And so this is us back within 1QBit...

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https://preview.redd.it/awpjpqbj23871.png?width=1600&format=png&auto=webp&s=884110582c21485294fe420cb7325919023b0ed6

‘cLicKety Click‘

Oh for the love of god here we go again……..

https://1qbit.com/

From their website:

WHY WE EXIST

We identify intractable industry problems and build the software necessary to harness the best classical and quantum hardware technologies to solve them.

Technology is continually scaling, and we believe applications should be built to scale alongside it. 1QBit is dedicated to solving industry’s most demanding computational challenges by building software that allows applications to continually benefit from advances in both quantum and classical hardware.

1QBit redefines intractable problems by reframing them to achieve superior results using the most effective quantum and classical processors built to date. We work with our partners to build industry applications on our hardware-agnostic platform to produce the best available results today, while continually improving these results through the ability to switch the underlying solver as new releases and hardware architectures are developed.

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https://preview.redd.it/l1gmie6k23871.png?width=512&format=png&auto=webp&s=8b746a71a97eae1e8530238a1f9fc3f882d27c5a

https://stagingqbit2.wpengine.com/wp-content/uploads/2021/05/1QBit-White-Paper-A-Comparison-of-Text-Sentiment-and-Market-Sentiment.pdf

​

Is it possible to short a bond?

Bonds, like any other security, experience market fluctuations, traders may be eager to profit from a bet that the price of a bond will go lower. You can sell a bond short, but it can be trickier than shorting stocks.

• It is possible to sell short bonds by borrowing them and selling them in the market, hoping to buy them back lower.
• But there are certain issues such as making required interest payments that make shorting bonds more complicated than shorting stocks.
• Other ways of betting against the bond market is through inverse ETFs.

And who was it again that was rumoured to be shorting treasury bonds?

…..rehypothecation.

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https://preview.redd.it/nkjkr0yk23871.jpg?width=785&format=pjpg&auto=webp&s=073ee6eb2d9d9cefa0c909850d8730ce0150a143

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https://preview.redd.it/7k4422ol23871.jpg?width=713&format=pjpg&auto=webp&s=0814c4db57b2a5e5301888b53d695d044bf0da19

https://1qbit.com/our-thinking/white-papers/

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https://preview.redd.it/d7rn44hm23871.png?width=1063&format=png&auto=webp&s=71d3d9ec067e2ba2e01cb2ce8cdfb2a4cf1658af

https://www.cmegroup.com/trading/bitcoin-futures.html

​

A Tool to Make You More Money

The CME Market Sentiment Meter (MSM) was created by 1QBit and the CME Group. It offers new trading insights by putting numbers to market expectations.

The MSM uses settlement data on eight major futures and options markets to estimate the likelihood of price movements. The MSM is based on money-at-risk in the open market, not just chatter and fake news.

Knowing what people are trading far out the curve adds another dimension to analyzing a market. The MSM is a metric with better forecasting and statistics that you can use to make more money from algorithmic trading.

1QBT - Chicago Mercantile exchange

Remember how in “TLC:THE LONG CON” how we tied the loose ends of the FTX LP token usage to create mirrored synthetic assets?

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https://preview.redd.it/rucxdicn23871.jpg?width=545&format=pjpg&auto=webp&s=6a5408efa564590d4dcff71989c56dee801ac71c

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Remember?

Ken ‘I don’t know what a token is’ Griffin

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https://preview.redd.it/ce897e2o23871.jpg?width=620&format=pjpg&auto=webp&s=fd7fab1660f563f644b0c4b139913087ef84dc2d

WeR fOto GooOoo?

https://filthylucre.com/ken-griffin-blasts-bitcoin-again/

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​

CHAPTER 5:

​

TENET

Well, Im sure you were probably wondering after having got this far why chapter 1 was so short compared to your traverses through quantum computing so I thought we could continue again from where we abruptly stopped so early on and go full TENET on Common denominators

If you made it this far...

Sit.

Rest, weary traveler. For you are in the company of friends and allies here, a respite from the dark worlds of fraud and cronyism.

TL;DF(Too long, didn't fantasy): The ring just landed in the fires of Mordor.

(loved it!)

​

Nerd joke for you:

Q: What happens when a simulated annealing quantum computing high frequency trading bot runs into a load of apes who just simply like a stock?

A: https://www.youtube.com/watch?v=WOdjCb4LwQY >Meow<

​

A little fun I had when I got sidetracked, interesting little nugget to read:

https://en.wikipedia.org/wiki/Travelling_salesman_problem

Think of it like a delivery driver planning out their route for the day to make it as efficiently as possible, as easily and comfortably as possible. Its a great read when you figure it all out and how it all ties in together.

​

And so...The Common Denominators:

http://hyperphysics.phy-astr.gsu.edu/hbase/quantum/schr.html

https://en.wikipedia.org/wiki/Simulated_annealing

https://en.wikipedia.org/wiki/D-Wave_Systems

https://www.quantumcomputinginc.com/

https://1qbit.com/

https://www.cmegroup.com/

Let s = s0

• For k = 0 through kmax (exclusive):
  • T ← temperature( (k+1)/kmax )
  • Pick a random neighbour, snew ← neighbour(s)
  • If P**(E(s),** E**(snew),** T**) ≥ random(0, 1):**
    • s ← snew
• Output: the final state s

Or as Jesse would say: Simulated annealing yo…….science bitch!

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https://preview.redd.it/oo3yfjhp23871.jpg?width=932&format=pjpg&auto=webp&s=472d7a331d8ca22958fe4dfc0d44ffcd3aeb3082

https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=224548&navigationaction=industrynews&newssection=industry

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https://preview.redd.it/hhifbacq23871.jpg?width=669&format=pjpg&auto=webp&s=e1f97598a5899b3dcf980bad67e79224f89492eb

https://www.financemagnates.com/institutional-forex/regulation/citadel-securities-fined-97m-in-china-for-malicious-short-selling/

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https://preview.redd.it/aojdef9r23871.jpg?width=798&format=pjpg&auto=webp&s=0af1559f0cec3bb1461a4ed922a18e80bdb3f494

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https://preview.redd.it/60i8ad0s23871.png?width=1008&format=png&auto=webp&s=b421736053c33954988fc05c073e7acb5b190e23

https://www.reuters.com/business/meme-stock-prices-may-not-properly-reflect-demand-nyse-president-2021-06-16/

SOMEONE’S DEEP LEARNING, INTELLIGENCE AUGMENTING, HIGH FREQUENCY TRADING, QUANTUM COMPUTING DIP MACHINE BROKE YO.

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​

​

Machines manipulate the truth! Look through the eyes of an ape and tell me you can’t see the fakery for what it is?

What is a Black Swan again?

A black swan is an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences. Black swan events are characterized by their extreme rarity, severe impact, and the widespread insistence they were obvious in hindsight.

A White Swan on the other hand,

A white swan is a highly certain event with three principal characteristics: it is certain; it carries an impact that can easily be estimated;and, after the fact, we concoct an explanation that recognizes the certainty of occurrence, but again, shifts the focus to errors in judgement or some other human form of causation,

How am I sure I’m right? APE HAD TO BURN PHONE :(

Where again was it that google search trends for ‘Glacier Capitals’ spiked before it even existed?

THIS IS WHY I DOUBLE DOUBLED DOWN

Shush Eric,

DIP:MACHINE:BROKE:BUY:HOLD:BUCKLE.UP

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and so you saw, that really:

I am only but a humble ape

QUANT-APE QUANTUM COMPUTING

Congratulations on your new degree from: The University of Superstonk

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I JUST LIKE THE STOCK!

As above & so below

>Meow<

>PppurrrrrrrRrrrrRRrrrrrrrRrrrrrRrrrrrRrrr<

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BUY, HODL, BUCKLE UP. Every path followed is the same path walked.

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CANTSTOP. WONTSTOP. GAMESTOP. I am not a cat

Jack Dorsey and Elon Musk will discuss bitcoin at an upcoming event, and 5 other key crypto moments from the past week

https://www.cnbc.com/2021/06/28/crypto-news-jack-dorsey-elon-musk-bitcoin-event-binance-ban.html

Jack Dorsey and Elon Musk will discuss bitcoin at an upcoming event, and 5 other key crypto moments from the past week

https://www.cnbc.com/2021/06/28/crypto-news-jack-dorsey-elon-musk-bitcoin-event-binance-ban.html

Jack Dorsey’s Bitcoin Demystification Event to Feature Elon Musk

https://btcmanager.com/jack-dorsey-bitcoin-event-elon-musk/

Evening Briefing

There’s an unpleasant surprise awaiting the richest of the rich in a 114-page document released by the U.S. Treasury last month. Technical provisions in a new proposal (not mentioned when President Joe Biden presented his plans to raise taxes on the wealthy in April) could dismantle some of the most popular ways the richest 0.1% have legally avoided taxes for decades. Now some of them are “freaking out.” —David E. Rovella

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic worldwide.

Here are today’s top stories

U.S. financial firms seem to have collectively heard a bell ring in recent weeks, with many of the biggest banks breaking the news to workers that it’s time to suit up and come back like its 2019 all over again. But at least one lender is breaking from the pack. Synchrony Financial, the bank behind credit cards offered by Amazon.com and PayPal, told its workers they can come back, but not five days a week. It’s just the latest example of workplace flexibility that looks to outlast the pandemic.

Antitrust investigators at the U.S. Justice Department have stepped up scrutiny of Google’s digital ad market practices, showing that the Biden administration is actively pursuing a probe that started during the previous administration.

But on Monday, a federal judge threw out antitrust lawsuits filed against Facebook by the Federal Trade Commission and 40 states, in a huge victory for the social media platform.

Tesla’s aspirations in China were dealt a major blow over the weekend after the government ordered that almost all the cars it’s sold there—more than 285,000 of them—must be fixed to address a safety issue.

Visitors look at a China-made Tesla Inc. Model 3 at the Shanghai auto show on April 27. Photographer: Qilai Shen/Bloomberg Biden’s honeymoon with the progressive wing of his party risks an abrupt and politically damaging end as liberal Democrats fear he won’t fulfill their aspirations for climate policy or protecting voting rights.

The U.K. on Monday reported the most new coronavirus cases since January, fueled by the delta variant. Scotland had a record 3,285 new cases during the last 24 hours, the biggest daily increase since the start of the pandemic. South Africa’s official death toll has passed 60,000. Mixing doses of vaccines from Pfizer-BioNTech and AstraZeneca-University of Oxford creates a strong immune response, according to results from a University of Oxford study. Here’s the latest on the pandemic.

Danielle Anderson was working in what has become the world’s most notorious laboratory just weeks before the first known cases of Covid-19 emerged in central China. Yet the Australian virologist still wonders what she missed: she paints a very different picture of the Wuhan Institute than the one you’ve been hearing.

Danielle Anderson Photographer: James Bugg/Bloomberg What you’ll need to know tomorrow

India shifts to an offensive military posture on the Chinese border. Fired by bot: Amazon drivers are getting terminated by algorithm. Bitcoin leads cryptos higher despite regulatory crackdown. Hong Kong is banning all passenger flights from the U.K. Abu Dhabi is using facial Covid scanners at malls and airports. Covid-weary super-rich point their massive yachts toward Greece. Bloomberg Businessweek: Where did Marcos hide his $10 billion?

Sponsored Content There's a reason over 2.9 million people start their day with Morning Brew — the daily email that delivers the latest news from Wall Street to Silicon Valley. Unlike traditional business news, Morning Brew knows how to keep you informed and entertained.

Morning Brew

Crushing Heat Lands on the Pacific Northwest

In New York City, heat advisories started landing in mailboxes on Sunday. But in the Pacific Northwest, no one needed to check their messages. The brutally hot weather that’s already pushed the region’s temperatures to record highs is set to get even worse. Parts of Seattle, which had its warmest day ever on Sunday with a high of 104 degrees Fahrenheit (40 degrees Celsius), could go even higher this week.

Visitors seek shade in tents on Alki Beach in Seattle on June 27. Record heat is bearing down on the Pacific Northwest, threatening fresh strains on regional power and water supplies. Photographer: Chona Kasinger/Bloomberg Like getting the Evening Briefing? Subscribe to Bloomberg.com for unlimited access to trusted, data-driven journalism and gain expert analysis from exclusive subscriber-only newsletters.

Watch the future unfold on June 30. Register here for Bloomberg New Economy Catalyst, a global, 6-hour virtual event celebrating the innovators, scientists, policymakers and entrepreneurs accelerating solutions to today’s biggest problems. We will explore what matters, what’s next and the what-ifs of climate change, agriculture, biotech, digital money, e-commerce and space through the imaginations and stories of these ascendant leaders.

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Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. Learn more.

Wealth Formula Episode 270: Is a Wave of Mortgage Defaults Coming?

Catch the full episode: https://www.wealthformula.com/podcast/270-is-a-wave-of-mortgage-defaults-coming

Buck: Welcome back to the show everyone today my guest on Wealth Formula Podcast is a friend of the show. He’s been on more than anybody else. He’s also a friend of mine. He is the founder and chairman of AHP Servicing. His name is Jorge Newbery. Jorge welcome back.

Jorge: Thanks Buck. Thanks for having me back on. I’m trying to stay ahead of the rest of the pack in terms of the number of appearances on your show.

Buck: Yeah I think you’ve at least I think you’re at least two or three ahead.

Jorge: Okay good let’s keep it that way.

Buck: Yeah so Jorge okay so you’ve been on a number of times and in the last few shows we’ve sort of jumped to the meat of the content which was what’s going on right now and that sort of thing but since we started and you started coming on I think the first time you came on there might have been about 10 listeners to the show and now you know we have about over 20,000 downloads per month. So tell us a little bit about your background. What you did and what and what you’re doing now.

Jorge: Sure you want me to start at the beginning?

Buck: Well I mean it depends. There’s a book on that right?

Jorge: That’s true yeah for the full history there’s a book called Burn Zones that’s available on Amazon that you can learn the full story. But I’ll get the short the the abbreviated version. I started buying real estate. In 1992 I bought a four unit building and then I bought a 19 unit building then a 60 unit building and I kept buying bigger and bigger. And what I would do is buy the biggest most troubled properties that I could find in the country and I turned them around and I had great success doing this and made a lot of money. The challenge is that my biggest building I ever bought was one called Woodland Meadows in Columbus Ohio 1100 units and that property got hit by an ice storm which triggered an extraordinary sequence of events which resulted in me going from owning 4,000 apartments and having a net worth in the tens of millions to losing everything and being 26 million dollars in debt. So quite a turnaround of the not the way you wanted to go and I rebuilt myself through American Homeowner Preservation which started out as a non-profit with a mission of keeping families at risk of foreclosure in their homes. It’s since evolved and now it’s been a for-profit for more than a decade and in the last decade we bought more than 10,000 defaulted mortgages. And our strategy now to achieve that same social mission is to buy defaulted mortgages at discounts from banks and hedge funds and then go to the families and try to work out consensual solutions for instance if they want to stay we can often provide them a loan modification which is share some of the discount with them in a form of reduced payments, forgiveness of principle and or forgiveness of some of the delinquent amount that they owe. And so it’s been successful and it’s evolved we now are national mortgage servicer AHP Servicing. We also have a platform where we sell defaulted mortgage notes one by one to local investors called pre-Reo. I’m a partner law firm called activist legal and which handles foreclosures and default services across the country and we are now soon starting a title company AHP Title Company that’s starting it. Actually we’re buying an existing title insurance company. So it’s evolved into several related and interconnected businesses that all work towards the same mission of keeping families risk of foreclosure in their homes. And in addition we have a nationwide mortgage originator which tries to originate micro mortgages. So the majority of our work is done in low and moderate communities and to whatever strategies we can utilize to do social good as well as make a profit.

Buck: Well and that’s all Jorge? I mean jeez I consider myself an entrepreneur but this yeah you’re kind of taking it to the next level my friend. But the common theme for the last gosh almost I guess almost 30 years for you now here has really been in residential homes mortgages that kind of thing and when you started. Maybe you can talk a little bit about what the environment was like when you first got into the space of non-performing notes because that was what year that was right pretty close to the great recession right?

Jorge: Yeah 2008 AHP started in 2008 which was the last downturn started you know we’re anticipating now another downturn but in 2008 Cincinnati Ohio property values collapsing you know significant disruption to the economy especially the housing markets.

Buck: Yeah and then so what have you seen since that time and when you talk about it in terms of cycles and you actually just reference that you see something potentially coming up obviously since that period of time there was a gigantic boom and what did you see happen in the housing market and as it relates to you know the defaults and that kind of thing say up until pre-Covid?

Jorge: Sure when we first started 2008, massive number of foreclosures, massive number of REOs for sale just huge supply limited demand so prices kept dropping dropping dropping for real estate that lasted 2009, ’10 ’11 ’12 ’13 ’14 you started seeing a floor and in some cases you started seeing appreciation on a modest level and that continued for several years. And I’ll tell you when we first started buying defaulted mortgages more than 10 years ago, we entered as a buyer, very small buyer working with maybe a million dollars and we were buying from some of the biggest banks in the country and that was awesome but the reason for it was because there were so few buyers, huge amount of defaulted mortgages, not that many buyers. So though these sellers will sell to anybody as this market improved

Buck: So by the way that means huge discount.

Jorge: Huge discounts yeah we’d be buying you know a loan. I mean this is a typical loan back then and it’s evolved but we would buy a loan that was they owed a hundred thousand the property value was only 50 because the property values had dropped we could buy that loan for twenty thousand dollars and that was a pretty typical numbers on loan that we purchased. Now over time, that 20 became 25 became 27 even started to hit 30. and that was just the passage of time where the real estate market became more predictable stronger instead people thinking when we first started buying people thinking that oh this may go down. Now they’re thinking okay how much is this going to go up. And and that continued to the point where in 2019 when we had started the newest fund AHP service and we went we stopped taking investments because we were having trouble investing the money that we were raising because the prices there were still loans available but the prices had gone so high it just didn’t make sense in many cases to buy. And then Covid hit and Covid I thought was going to be that inciting incident where this long upcycle which was longer than than historic averages in terms of the upward part of the cycle so it was due for a downturn and usually there’s a trigger and in this case I thought okay Covid’s going to be the trigger and everything’s going to start crashing down. And the opposites happened. The market has experienced almost another upcycle on top of the prior upcycle without the middle down cycle. And not only that, it’s compressed. We’ve had a 20 to 30% appreciation more or less a year and so it’s compressed the time frame.

Buck: So let’s talk a little bit about why that might be because to me what I’m thinking what happened during Covid is I think a lot of people thought yeah hell’s about to break loose and that kind of thing but then you had these you know essentially moratoriums on you know people being able to stay in their house you had huge stimulus so that people could actually pay their mortgages and all those things the huge amounts of government support probably meant that what you would expect in terms of inventory of defaulted loans didn’t happen. Do you think that that’s it or is there something else?

Jorge: I think you’re absolutely right you touched on two big things. One is the foreclosure moratoriums which have done two things. Have constrained inventory also you know a lot of families that maybe are struggling the right you know the right part of that is that they’ve been able to stay in their homes in many cases without paying. And the other part is a government stimulus which has been extraordinary in scope and has just flooded the system with cash which I think two artificial ingredients which have made probably prevented the downturn. But maybe it had some unintended consequences. I don’t think that the intention of all this flood of cash into the system was to fuel a significant appreciation in asset values and that’s what’s happened in many asset classes and at particularly real estate. So again it’s artificial components to this surge you know you couple the stimulus with the foreclosure moratoriums and with the record low interest rates. And you put all those combinations together and you have the super robust real estate market. But those factors cannot I mean it’s artificial. Those factors are not market driven they were programs by our government that won’t last and you pull those out and I think it’ll be fairly ugly what’s really there and these have masked these artificial ingredients have masked the true damage to the economy which I think is I mean there’s certainly industries that have done well they’ve been covered winners but there’s a lot of losers in there and I think a lot of families have been financially ravaged and businesses too and you know once the PPP money runs out the stimulus runs out and maybe the interest rates start up ticking that we’ll be exposed and I think that will be you know at some point there’s a trigger for the downturn and I think from pretty weak footing you know that the big ingredient for our federal government to intervene when things are going wrong is to lower the interest rates. You can’t really lower them any lower than they are today so you have a weak economy and low interest rates so it’s gonna be very challenging.

Buck: Yeah you know you’re absolutely right and I just wonder about the pattern of government both fiscal stimulus you know the interest rates from the fed and buying back bonds and then all the government intervention together you know there’s always a question of does it have to stop and one of the questions you know I’ve been asking myself is maybe they just don’t think they have to stop at this point right? I mean so what’s ultimately happening with all of this intervention is we are seeing real inflation. And so the question is you know in your mind obviously you think there’s a downturn I mean the fed or you know interest rates are not going to go up unless it’s really something that the government and the fed are okay with right I mean they have a lot of different ways to artificially suppress those rates. So what do you think when you when you think of the trigger? What’s the trigger and when do you think this is happening?

Jorge: Yeah it’s tough to say what it will be it’s it can often be an emotional one something that we don’t see coming like Covid. I mean Covid shouldn’t but it could be emotional sentiment political change it’s hard to say would it be the trigger I mean but I’ll make some predictions which I would not put a wager on but here’s what I would think is going to happen: these foreclosure more times will continue through the end of 2021. I think that’s highly likely in fact I think they’ll even be expanded in scope and that will keep the market robust like it is right now and probably even continue to appreciate somewhat 2022 those foreclosure moratoriums and other consumer protections will start expiring rolled back but there’ll be significant regulatory pressure and government pressure on mortgage holders and servicers to not foreclose and instead to work with the consumers to try to find solutions to keep them in their homes. And I’m talking about foreclosures but there’s also similar protections voluntary and involuntary on other types of debt that consumers may be struggling with. And so I think 2022 will be a year of modifications of other types of workout programs that do help some families get back to the point where they can pay. But 2023 would be the year that I think now there’s we’ve had a year of trying to work these things out with these families some of them have made it and then whoever hasn’t 2023 I think will be a crushing year in terms of foreclosures. And then now you’re going to start seeing significant inventory flooding the market and that may not happen in late 2023 or 2024 as these processes move through the court system but at some point maybe late 2023 2024 you start seeing a flood in the market of distressed assets and that will dampen prices prices will start going the other way. And then you know I think the unfortunate consequence is that people who bought by today who are buying it 20 to 30 percent more than these homes were worth a year ago. Now fast forward a year or two and be under these property values start going the other direction and they’re sitting on they put down three percent and now they owe you know 97,000 on on a home that has now you know the home across the street identical home is selling for 70 or 80. People even if they can pay some point they’re going to say you know why should I pay? I’m totally underwater. I’m never going to get back where I want to be. I’m just going to stop paying my mortgage and now that’s this is what happened last go-round and then you start seeing okay now gets even worse. So I started seeing this thing where it got better and better and better and now gets worse and worse and worse and the damage expands. So I hate to paint a bleak picture but we’ve seen this movie before I think it’s coming back.

Buck: I think that there’s a difference in terms of what happens with the housing markets at the high end versus the middle and lower end or do you think it’s all the same?

Jorge: You’re right oftentimes there’s a home or price range is fair particularly better or worse than others this go around though this post Covid bump in values has been almost across the country in almost all price ranges and that I think is means that it’s gonna negatively impact you know the comeuppance is going to affect the same thing all across the country. All price ranges I think we’ll see I mean at some point it’ll go slowly. It won’t be a bloodbath day one but I think it turns into a bloodbath and I hate to say that I’m not saying that cavalierly because the problem is you know behind all that blood are real families who are stuck in real pickles and they’re doing a good thing today by buying a home thinking that’s the right thing to do. And it may well be I mean in fairness to step back one of the reasons people are buying today is they’re saying hey I’m paying two thousand dollars a month for rent I’m buying this home with a fixed rate 30-year mortgage and all in I’m paying 1500 that totally makes sense to go so in some of these families hopefully we’ll get to that point where maybe they are underwater but the housing cost is still affordable enough and makes sense that they will continue to pay their pay their mortgage and see it through because eventually as you see you know the people who did make it through 08,09,10 made it to the other side you know many of them have been you know now their home values have been restored and some in most cases have gone up. But I do fear that there will be big challenges. At the same time we’re paying back you know all the government stimulus all the low interest rates all these things are not good long-term for our economy at some point these artificial ingredients will have their unintended consequences will start to show and that will probably have some negative impacts on some families abilities to pay some \ industries and whatnot.

Buck: Well that makes me feel good about just buying a house right now.

Jorge: You have to get out I mean I know you’re buying a house right now if you’re going to buy their long-term I mean right but if you get out of there if your intention is to buy it fix it up and resell it and you can exit in this market it could be fantastic but this is just look into this like a pyramid scheme you know the pyramid schemes everyone wins until the last people in and the last people in lose. And so I mean from a business perspective you need to buy it now exit into this market you probably do very well if you wait takes too long though and you’re exiting after this pyramid is collapsed you know then you’re the last guy in and that may be unfortunate.

Buck: Or you just say hey I’m gonna stay in this forever and you’ll be fine.

Jorge: Yeah that’s true it still feels weird though when you’re sitting in a house where it’s twenty percent more than you’re paying a mortgage twenty percent more than itself for sure it’s worth it just well this doesn’t feel good.

Buck: Yeah so Jorge how does you know because you have it and obviously your past is in the apartment space right and that’s a lot of what I do and through our real estate syndication stuff. How do you think that the crises that you would foresee happening in the mortgage space? How do you think that those things will affect rentals apartment buildings things like that in some ways you would think that you know those kinds of properties might benefit from an onslaught of people needing to rent but I’m just curious how you see those two things interplaying or how they have historically?

Jorge: Yeah okay so historically I think you’re right there will be more people you want today there’s people coming from rental renters turning them into homeowners and that’s great that’s the way it should be. But in a downturn it’s likely that some of those homeowners will go back to being renters unfortunately. And so operationally that could be good in terms of demand for apartments. I get a little nervous on the apartment investing side though a lot of the high prices because some of these multi-family properties are selling for extraordinary prices today and that’s a major primarily driven by these low interest rates for sure. So at some point these rates go up I mean the numbers are just going to dictate a lower value you almost can’t get any lower than today’s interest rates. So that there has to be I think in a downturn you’re going to see some just like last time you’re going to see single-family homes went down so did multi-family and I think the same thing will happen I don’t think there is an exception without they’ll be able to survive any better than single family.

Buck: I think the goal in those types of situations for people who are looking for you know investing is to to not try to speculate quite as much right I mean if you can buy something that is cash flowing you create value you can drive up rents now and create stability you’re much better off than you know just going in there and trying to flip homes and hope that the game of the musical chairs.

Jorge: Yeah I mean if you could like long-term even bitcoin look at bitcoin and I know you’re familiar probably more than me but look at the wild market fluctuations that it’s experienced over the last few years. If you get out in a panic when it’s down or you buy in a you know in a euphoria when it’s up there it’s just you see on a much greater basis these wild fluctuations that have occurred. And I think my point is if you can withstand those stay the course you know you’ll probably do okay in the end as you know wild roller coaster ride. So same thing with real estate it’s just like it’s not so wild it moves more in slow motion but at some point you’ll start feeling hey these things are going right now it’s going up you know then it’s going down you know if you’re going to jump out as soon as it starts going down then that may not be optimum.

Buck: Let’s talk a little bit about AHP Servicing these things that you’re talking about specifically the potential for negative activity in the housing market actually benefit AHP servicing as a business. So basically the idea and I’m just going to try to sum this up for people who are trying to understand this because they obviously AHP has been a sponsor of the show for a long time the commercials. So what AHP does is basically goes in and for people who are struggling they buy these mortgages for less than the people actually owe and then they negotiate they try to negotiate with the homeowners to try to keep them in the home. Basically trying to get a maybe a mortgage that they could pay maybe for giving some of what’s owed on the back end and that kind of thing. So in that regard it’s a very you know socially responsible type business. The only other options I guess they would have in that situation if somebody can’t do that then would be to foreclose which they don’t want to necessarily do or you know you could potentially pay somebody to leave and then sell off the asset but the goal of AHP Servicing as I understand it Jorge is really to keep people in the house. Did I kind of get that right?

Jorge: You did. I’ll just add one component is that in addition and historically all we did was buy mortgages. Now there’s an added component that we buy and service mortgages for both the ones we own and owned by third parties and so that outreach that mission to achieve consensual solutions in a rapid fashion which is what we try to do now we do it not just on loans we own but for third parties and once that downturn hits you know there’s a lot of money a lot of people especially right after Covid hit, a lot of people are raising a lot of money. Hey the downturn is going to come we’re going to buy these to faulty mortgages and other types of debt and try to make money do that. And that just hasn’t been a whole lot of loans to buy so that hasn’t been the case yet but once this downturn hits we want to be in a position to service for any you know mortgage holders who have those defaulted mortgages who need high-touch servicing to work them out.

Buck: There are a couple of nice features about AHP servicing as an investor that I think are useful to know. One is you don’t have to be accredited. So I know all the emphasis a lot of times and what we talk about in this group is private investing people who are accredited and then if you’re you know if you are accredited you join our backend private group and prove that you’re accredited and have that kind of thing. But you don’t need to do this if you’re a listener, you’re not accredited and you’ve even got a few hundred Bucks you can participate, right Jorge? You want to explain how that works?

Jorge: Yeah exactly it’s a minimum investment of a hundred dollars we accept accredited and non-accredited investors and accredited investors can invest as much as they want not accredited. There’s limits based on your income and or net worth but yeah it’s basically open to everybody. And I think that’s one of the unique things and we made the entry you know that minimum investment as low as possible in order to make the investment as accessible as possible

Buck: What’s the situation with liquidity? I know this is kind of a been an issue just in terms of I mean the goal is to be able to you know which is a unique aspect of this fund is to be able to retrieve your funds if you need them. How does that work?

Jorge: Yeah sure so we call our best efforts redemption feature and how it works is investors who need their money back for any reason can request that it’s returned to them and that their investments redeemed and will undertake our best efforts to redeem within 30 days. And historically we were able to do that and it was a nice you know hey people invest thinking you know hey I don’t need this money but then all of a sudden they find a great opportunity or life circumstances change business circumstances change and they need the money back and they can get it. And we have through the beginning of Covid we were doing just fine with that and by and large we’re redeeming within 30 days. But once Covid hit we had an extraordinary spike in redemptions. You remember back then you know businesses were struggling stock market was fluctuating wildly and people needed their money to make payroll to cover margin calls and all kinds of other reasons and or they were just nervous about you know what’s gonna happen so we had an unprecedented number of redemptions which we’re still working through. We’ve made huge progress I think in the last 30 days we’ve redeemed you know there’s millions of dollar of redemptions completed in the last 30 days or in process to be done in the next 15 days. So a lot of money has been redeemed but we’re still working on a significant backlog. So right now I would invest knowing that that feature is there and I’d expect within the next few months we’d be back to returning within 30 days. But now that has not been the case. One other caveat to that if you do redeem early in the first year we typically your return is reduced by two percent and if it’s done in the second year by one percent after two years of being invested in full there’s no offset.

Buck: What’s been the record in terms of meeting the expected returns?

Jorge: Sure so we were doing extraordinarily well through my last full year was 2017 we had an over 40 return we changed leadership for 2018 and 2019 and those returns went to the single digits I came back in mid-2019 and made some significant strides Covid hit and our returns have not been where they should be but there’s huge asset value it’s just assets that we own and luckily with Covid as we talked earlier those assets have gone up in value. So today what’s happening is we are selling all the loans we didn’t sell any loans at scale since I came back aboard in mid-2019. Today we are selling all our paying loans, all the loans that are re-performing we’re selling these often in the 90s so 90 91 92 cents on loans that we oftentimes purchase for you know 50 around 50 cents so huge gains which are in the portfolio which we are now realizing REOs when we get REOs through the system today which again with the foreclosure moratoriums we can’t always do but we can let’s say on a property that’s vacant and we are allowed to foreclose we’re putting those on the market multiple offers selling them a huge gain. So I think 2021 will be an exceptionally good year in both of our outstanding funds

Buck: How does that translate for investors now Jorge and in turn because usually there’s a fixed return has that sort of and what is it now and have you been able to meet those demands?

Jorge: Yeah we pay the first pers a predetermined percentage to investors provided we have money available so in the AHP servicing fund we pay the first 10 percent of what we earn to investors and that’s a 10% annual return in the next upcoming funds which are AHP title and pre-REO we expect to pay the first seven percent annual return to investors. There’s multiple funds that were paid that predate these funds where all the investors have been paid including their predetermined returns and so that’s what we pay. And then people say what happens if you make more than that where does that money go? That’s what we earn. So basically at the end of each of these funds we return all the money to investors they’ve gotten all their returns whatever’s left is ours. So the more we can make you know the more there is for us at the end to the extent we succeeded in our mission. And these have been bumpy these last couple of years have been bumpy first with the leadership change which didn’t go quite as well as hoped and I’ll elaborate a little bit we brought in a new replacement CEO from a large bank and she was good in some ways she kind of added a structure management structure to the company that was helpful but was conservative in investments and dispositions of investments and that kind of dampened the returns. So I’ve brought that back but it’s been with Covid hitting it’s been a little bit challenging to show those results until this year.

Buck: Sure and then have those impacted the investor returns have they been?

Jorge: No we’ve had enough cash available so think about this we still have a lot of money that comes in every month on performing loans. Again it’s because we’ve just been holding these we have a lot of money that comes in you know somebody pays off a loan or settles a loan. So with the exception of the first couple of months of Covid where for a while we weren’t selling REOs people were having trouble paying their mortgages there were a couple of months where we were several days late with our returns distributing returns because probably I recall we were just squeaking by in terms of having available cash but now we’re back to the point where we have significant available cash.

Buck: So bottom line is folks the returns have been pretty darn consistent you know going from you know ten down to seven and stuff you might be wondering why but I assume you know what you’re seeing across the board is that this kind of impact happens when there is incredibly low interest rates yields go down too. And so that’s what you’re seeing here Jorge. If people want to get involved, how do they invest? And they can just let it compound too right so your seven percent might actually end up you know compounding on itself and becoming like nine percent a year or something like that but how does it all work?

Jorge: Sure so investors can choose as you said they can choose to each month have their returns distributed to them or they can also choose to have them reinvested. And you’re right so that would create a compounding effect that’s only in effect for the first two years of a fund. As long as it’s open to investment we can accept reinvestments. Actually with AHP servicing we’re able to extend it for three years or up to three years it’ll close the day that AHP title offering goes live which should be in the next month or so. Today an investor can go to AHPservicing.com and learn more about the investment if they choose they can make an investment fast forward a couple of months and we’ll be able to say the same for AHP title.com and prereo.com

Buck: So everyone check all those things out. Jorge is like I said he’s one of the smartest entrepreneurs I’ve ever met and you know it’s funny when there was a change in leadership a little bit I was a little bit nervous because I know Jorge has a special sauce so it’s nice to see Jorge back in control over there and anytime Jorge is involved I think you’ve got some pretty good odds in your favor. Jorge thanks so much for being on Wealth Formula Podcast again and we will make sure that you stay in the lead and come back in a few months.

Jorge: I appreciate that Buck.

Buck: We’ll be right back.

$MIL | Ultimate Moonshot Potential 🚀 | Military.Finance | Most Professional Marketing Ever Seen❗️REWARDS Program & NFTs 💎 BIG NAMES Supporting This🔥

-New DeFi project fair-launched in May on the BSC network.

-Ownership renounced ✅(Always check bsc scan when someone tells you this!) 💯 https://bscscan.com/address/0xf5015995376a35b10dcbd96ba6b6e9de1c9f87c5#readContract

-Fully doxxed team! ✅ They are professionals in business for years already and have been featured on Entrepreneur magazine, Forbes, New york Times, INC, Wall street journal. (Check the official website, scroll down and DYOR on the guys! You will see) You can check their linked-in profiles as well.

-Weekly AMAs ✅ (all recorded and available on https://m.twitch.tv/mil_finance/home )

-Listed on BitMart ✅ exchange already(links below) More exchanges to follow!

-Available also via pancake ✅ (links below)

-Focused on building passive income for the holders while supporting veteran organizations around the world. First donations already made! ✅ 20.000$ after like two weeks after launch ❗️ All infos are on the website ( https://www.military.finance/news )

-REWARDS-program rolling out soon ( https://www.military.finance/membership-rewards ) The longer and the more you hold the better your rewards!

-Partnerships:

The Taya & Chris Kyle Foundation ✅

Heart of a Lion Foundation ✅

Uncommon Grit Foundation ✅

Multiple Influencers with millions of followers ✅

More celebrities are joining the fight to support this project every week!! ✅

-Multiple Airdrops/Giveaways/Challenges to Win $MIL - token already done ✅

-NASCAR sponsorship done ✅

-John Daly golf tournament sponsorship done ✅

• Military.Finance took over Miami during the 2021 Bitcoin Conference ✅

-Andy Stumpf endorsement (NAVY Seal Team 6) ✅

-Darren McBurnett endorsement (NAVY Seal and Amazon top 100 best sellers list author) ✅

-In talks with Charles Hoskinson (Founder of Cardano/ADA) for a possible future collaboration

-In talks with one of the biggest WW2 museums in the USA to turn their greatest exhibits into NFTs

-Be part of a great Community 💎

-Auctioning of first Bitcoin AR-15 coming up (100% of the money will be donated)

• Look at the cool stuff they're doing like surprise a soldier, partnering with advanced medical treatments that were previously unavialble.

-Just look at their website and see who they are connected to. This will get a lot of big eyes on it. 👀

-Bulletproof techrate audit. ✅ Guess what, all those big names on the project only joined the fight because this is 💯% legit! PDF of the audit on the website.

Contract: ✅ 0xf5015995376a35b10dcbd96ba6b6e9de1c9f87c5

I post the contract here, BUT: For your own safety, always go to official websites and take the contract address from there. Website posted below!

Tokenomics: ✅ 8% fee on transactions -> 5% back to holders & 3% to liquidity

There are wallets set up inside the eco-system to use those reflections for: -Selected charities (BIGGEST portion) 75% -Awesome events (like surprise a soldier etc.) -Smallest portion goes into marketing to make this project 🚀 even further

When you do your DD, you can see that those guys are completely dedicated to the cause, fully DOXXED ✅ and put their own businesses on hold to do this the right way, and not to make own profits!

How to buy is probably your question now:

🔥🔥🔥

https://www.military.finance/howtobuy-1

https://www.military.finance/how-to-buy-pancake

🔥🔥🔥

So, to sum it all up:

$MIL has to most professional marketing team and they are building an ultra solid foundation. I have not seen any other project in the crypto token space with more transparency and dedication.

All those big names will draw a lot of attention onto this project. And this is for sure here to stay and will be a very long-term benefit for everyone involved. 💰

This project is not build on hype only like I have seen on many others, so imo this is for real investors that dont mind doing something good while making a lot of profit in the future. 💵

There is so much going on with $MIL right now and it is just the beginning🚀

As for everything, I recommend you do your own research! And you will see for yourself that this project is gonna be HUGE! And if you dont think it has moonshot potential after your DD, I dont know which other project has!

Website: https://www.military.finance

Reddit: https://www.reddit.com/r/Military_Finance/

Discord: https://discord.gg/PweuBXrSTx

Twitter: @MIL_Finance

YouTube: https://m.youtube.com/channel/UC3_W7lrw22HQEmgzRyvTIUA

Facebook: https://m.facebook.com/militaryfinancetoken

Telegram: https://t.me/joinchat/8VM5-PsIgyBiN2Mx

Instagram: https://instagram.com/military.finance?utm_medium=copy_link

Twitch (all AMAs recorded): https://m.twitch.tv/mil_finance/home

$MIL | Ultimate Moonshot Potential 🚀 | Military.Finance | Most Professional Marketing Ever Seen❗️REWARDS Program & NFTs 💎 BIG NAMES Supporting This🔥

-New DeFi project fair-launched in May on the BSC network.

-Ownership renounced ✅(Always check bsc scan when someone tells you this!) 💯 https://bscscan.com/address/0xf5015995376a35b10dcbd96ba6b6e9de1c9f87c5#readContract

-Fully doxxed team! ✅ They are professionals in business for years already and have been featured on Entrepreneur magazine, Forbes, New york Times, INC, Wall street journal. (Check the official website, scroll down and DYOR on the guys! You will see) You can check their linked-in profiles as well.

-Weekly AMAs ✅ (all recorded and available on https://m.twitch.tv/mil_finance/home )

-Listed on BitMart ✅ exchange already(links below) More exchanges to follow!

-Available also via pancake ✅ (links below)

-Focused on building passive income for the holders while supporting veteran organizations around the world. First donations already made! ✅ 20.000$ after like two weeks after launch ❗️ All infos are on the website ( https://www.military.finance/news )

-REWARDS-program rolling out soon ( https://www.military.finance/membership-rewards ) The longer and the more you hold the better your rewards!

-Partnerships:

The Taya & Chris Kyle Foundation ✅

Heart of a Lion Foundation ✅

Uncommon Grit Foundation ✅

Multiple Influencers with millions of followers ✅

More celebrities are joining the fight to support this project every week!! ✅

-Multiple Airdrops/Giveaways/Challenges to Win $MIL - token already done ✅

-NASCAR sponsorship done ✅

-John Daly golf tournament sponsorship done ✅

• Military.Finance took over Miami during the 2021 Bitcoin Conference ✅

-Andy Stumpf endorsement (NAVY Seal Team 6) ✅

-Darren McBurnett endorsement (NAVY Seal and Amazon top 100 best sellers list author) ✅

-In talks with Charles Hoskinson (Founder of Cardano/ADA) for a possible future collaboration

-In talks with one of the biggest WW2 museums in the USA to turn their greatest exhibits into NFTs

-Be part of a great Community 💎

-Auctioning of first Bitcoin AR-15 coming up (100% of the money will be donated)

• Look at the cool stuff they're doing like surprise a soldier, partnering with advanced medical treatments that were previously unavialble.

-Just look at their website and see who they are connected to. This will get a lot of big eyes on it. 👀

-Bulletproof techrate audit. ✅ Guess what, all those big names on the project only joined the fight because this is 💯% legit! PDF of the audit on the website.

Contract: ✅ 0xf5015995376a35b10dcbd96ba6b6e9de1c9f87c5

I post the contract here, BUT: For your own safety, always go to official websites and take the contract address from there. Website posted below!

Tokenomics: ✅ 8% fee on transactions -> 5% back to holders & 3% to liquidity

There are wallets set up inside the eco-system to use those reflections for: -Selected charities (BIGGEST portion) 75% -Awesome events (like surprise a soldier etc.) -Smallest portion goes into marketing to make this project 🚀 even further

When you do your DD, you can see that those guys are completely dedicated to the cause, fully DOXXED ✅ and put their own businesses on hold to do this the right way, and not to make own profits!

How to buy is probably your question now:

🔥🔥🔥

https://www.military.finance/howtobuy-1

https://www.military.finance/how-to-buy-pancake

🔥🔥🔥

So, to sum it all up:

$MIL has to most professional marketing team and they are building an ultra solid foundation. I have not seen any other project in the crypto token space with more transparency and dedication.

All those big names will draw a lot of attention onto this project. And this is for sure here to stay and will be a very long-term benefit for everyone involved. 💰

This project is not build on hype only like I have seen on many others, so imo this is for real investors that dont mind doing something good while making a lot of profit in the future. 💵

There is so much going on with $MIL right now and it is just the beginning🚀

As for everything, I recommend you do your own research! And you will see for yourself that this project is gonna be HUGE! And if you dont think it has moonshot potential after your DD, I dont know which other project has!

Website: https://www.military.finance

Reddit: https://www.reddit.com/r/Military_Finance/

Discord: https://discord.gg/PweuBXrSTx

Twitter: @MIL_Finance

YouTube: https://m.youtube.com/channel/UC3_W7lrw22HQEmgzRyvTIUA

Facebook: https://m.facebook.com/militaryfinancetoken

Telegram: https://t.me/joinchat/8VM5-PsIgyBiN2Mx

Instagram: https://instagram.com/military.finance?utm_medium=copy_link

Twitch (all AMAs recorded): https://m.twitch.tv/mil_finance/home

$MIL | Ultimate Moonshot Potential 🚀 | Military.Finance | Most Professional Marketing Ever Seen❗️REWARDS Program & NFTs 💎 BIG NAMES Supporting This🔥

-New DeFi project fair-launched in May on the BSC network.

-Ownership renounced ✅(Always check bsc scan when someone tells you this!) 💯 https://bscscan.com/address/0xf5015995376a35b10dcbd96ba6b6e9de1c9f87c5#readContract

-Fully doxxed team! ✅ They are professionals in business for years already and have been featured on Entrepreneur magazine, Forbes, New york Times, INC, Wall street journal. (Check the official website, scroll down and DYOR on the guys! You will see) You can check their linked-in profiles as well.

-Weekly AMAs ✅ (all recorded and available on https://m.twitch.tv/mil_finance/home )

-Listed on BitMart ✅ exchange already(links below) More exchanges to follow!

-Available also via pancake ✅ (links below)

-Focused on building passive income for the holders while supporting veteran organizations around the world. First donations already made! ✅ 20.000$ after like two weeks after launch ❗️ All infos are on the website ( https://www.military.finance/news )

-REWARDS-program rolling out soon ( https://www.military.finance/membership-rewards ) The longer and the more you hold the better your rewards!

-Partnerships:

The Taya & Chris Kyle Foundation ✅

Heart of a Lion Foundation ✅

Uncommon Grit Foundation ✅

Multiple Influencers with millions of followers ✅

More celebrities are joining the fight to support this project every week!! ✅

-Multiple Airdrops/Giveaways/Challenges to Win $MIL - token already done ✅

-NASCAR sponsorship done ✅

-John Daly golf tournament sponsorship done ✅

• Military.Finance took over Miami during the 2021 Bitcoin Conference ✅

-Andy Stumpf endorsement (NAVY Seal Team 6) ✅

-Darren McBurnett endorsement (NAVY Seal and Amazon top 100 best sellers list author) ✅

-In talks with Charles Hoskinson (Founder of Cardano/ADA) for a possible future collaboration

-In talks with one of the biggest WW2 museums in the USA to turn their greatest exhibits into NFTs

-Be part of a great Community 💎

-Auctioning of first Bitcoin AR-15 coming up (100% of the money will be donated)

• Look at the cool stuff they're doing like surprise a soldier, partnering with advanced medical treatments that were previously unavialble.

-Just look at their website and see who they are connected to. This will get a lot of big eyes on it. 👀

-Bulletproof techrate audit. ✅ Guess what, all those big names on the project only joined the fight because this is 💯% legit! PDF of the audit on the website.

Contract: ✅ 0xf5015995376a35b10dcbd96ba6b6e9de1c9f87c5

I post the contract here, BUT: For your own safety, always go to official websites and take the contract address from there. Website posted below!

Tokenomics: ✅ 8% fee on transactions -> 5% back to holders & 3% to liquidity

There are wallets set up inside the eco-system to use those reflections for: -Selected charities (BIGGEST portion) 75% -Awesome events (like surprise a soldier etc.) -Smallest portion goes into marketing to make this project 🚀 even further

When you do your DD, you can see that those guys are completely dedicated to the cause, fully DOXXED ✅ and put their own businesses on hold to do this the right way, and not to make own profits!

How to buy is probably your question now:

🔥🔥🔥

https://www.military.finance/howtobuy-1

https://www.military.finance/how-to-buy-pancake

🔥🔥🔥

So, to sum it all up:

$MIL has to most professional marketing team and they are building an ultra solid foundation. I have not seen any other project in the crypto token space with more transparency and dedication.

All those big names will draw a lot of attention onto this project. And this is for sure here to stay and will be a very long-term benefit for everyone involved. 💰

This project is not build on hype only like I have seen on many others, so imo this is for real investors that dont mind doing something good while making a lot of profit in the future. 💵

There is so much going on with $MIL right now and it is just the beginning🚀

As for everything, I recommend you do your own research! And you will see for yourself that this project is gonna be HUGE! And if you dont think it has moonshot potential after your DD, I dont know which other project has!

Website: https://www.military.finance

Reddit: https://www.reddit.com/r/Military_Finance/

Discord: https://discord.gg/PweuBXrSTx

Twitter: @MIL_Finance

YouTube: https://m.youtube.com/channel/UC3_W7lrw22HQEmgzRyvTIUA

Facebook: https://m.facebook.com/militaryfinancetoken

Telegram: https://t.me/joinchat/8VM5-PsIgyBiN2Mx

Instagram: https://instagram.com/military.finance?utm_medium=copy_link

Twitch (all AMAs recorded): https://m.twitch.tv/mil_finance/home

What are NFTs? How to mint an NFT? Why are NFTs valuable? - LUV NFT starting guide to NFTs

​

Starting guide to NFTs

​

Hello LUV Bots, welcome to the world of NFTs.

The future of our society will be tokenized by NFTs which will allow us to verify ownership of our assets and store them safely in our digital wallets. Let's start with the most common NFT questions.

More than likely if your reading this you may be new to blockchain and crypto, or you may have been in crypto for years at this point - but in both cases - you probably are just now learning about NFTs which have been around since 2014.

This will be an NFT bible that is ever-living/changing to help understand NFTs. By helping you learn what gives them value and how you can get started earning crypto in the NFT dCommerce economy.

​

What exactly is an NFT (Non-Fungible Token)?

​

Is an ERC-720 token that is a unique token unlike ERC-20 (Bitcoin, Dogecoin, Luvcoin), an individual token existing on a blockchain such as Ethereum, Polkadot, Kusuma, Flow, etc. Unlike cryptocurrencies like bitcoin, each NFT token contains unique data meaning non-fungible tokens are not interchangeable with each other. This non-fungible nature of the tokens means their use cases differ greatly from their fungible counterparts. AKA a 1-of-1.

​

A normal Fungible ERC-20 token can be exchanged for the same type of token equally without any difference.

💸 A good example is a dollar 💸

If you and I both have a dollar — we can swap dollars and it doesn’t matter, neither of us loses out they are equal. Whereas with non-fungible tokens they are both >unique, meaning if we both have an NFT, mine could be a baseball card, and yours could be your Birth Certificate — obviously, we cannot exchange these two equally. Therefore making our tokens non-fungible.

​

Non-fungible tokens are used to create verifiable digital scarcity. NFTs are used in several specific applications that require unique digital items. This has initially proven popular for blockchain games and collectibles like CryptoKitties on the Ethereum blockchain. NFTs can also be used to represent in-game assets, which are in control of the user instead of the game developer. One exciting benefit of this arrangement means the non-fungible tokens or digital items, may actually outlive the game they were initially created for and find incorporate into separate future games. Yet another potential use is in digital art, by helping prove authenticity and ownership.

​

Artwork is another example of how powerful NFTs can be. By allowing artists to create artwork on the blockchain as NFTs, it means their content now becomes sellable globally, on decentralized marketplaces. *Providing a means to collect, earn, and make a living off crypto. The average NFT seller makes $4-7k monthly*

​

A hotel room rental can be an NFT. The unique data of the rental hotel room, rental date/time is unique and can be tokenized on LUV NFT marketplace and rented on rentluv.com a crypto Airbnb platform. Hotel room NFTs allow guests to book a room in the form of an NFT and resell it if need be on LUVNFT.com for potentially more than what they paid for it versus worrying about cancellation fees. Your passport to travel, airline ticket, rental car, event ticket can be an NFT verified with blockchain technology.

​

The dCommerce creator's economy allows us to create verified digital assets that can be sold with no middleman taxing your business. NFTs are one of the best ways to actually earn crypto over time, without needing to invest in crypto directly. dCommerce is eBay like opening a store on eBay or Etsy, your trading your time and work for digital money. With dCommerce you own your digital assets stored in your digital wallet and you don't have to pay monthly fees to NFT marketplace like LUVNFT.com. With eCommerce, your leasing your store on eBay, Etsy, Shopify store, and in the event of not making monthly payments, they will block all access to your account.

​

What gives an NFT its value?

​

There are a ton of reasons to buy NFTs.

​

• Unique - Each NFT is unique, its the only one of its kind. You cannot make another NFT that is the same token number on the same smart contract. Meaning there will only ever be one of that token. This is verified by the blockchain and can be seen by anyone.

​

• Copyright - Your NFT might come with copyright if you are using luvnft.com. If the seller chooses to do so - it means that its on the blockchain that the owner of that token would have complete commercial copyright to use that image and asset. Before you upload your unique content to a social media platform mint it on LUV NFT marketplace to claim ownership of it in the event of it going viral. Here is an example of a viral NFT meme that sold for $500k https://www.nytimes.com/2021/04/29/arts/disaster-girl-meme-nft.html

​

• Rare - Since they are unique and cannot be copied, NFTs are rare. Most of the time, there are very few NFTs from an artist or seller - very rarely do they have 1000s of NFTs. Therefore, you can safely assume you would be one of the few people in the world that owns a collectible item, that can be resold.

​

• Collectible - These NFTs/items are collectible. Think of it as a rare basketball rookie card, if you hold onto it, the value will only go up in price since there are few ways to dilute the collection. Buying them to resell them can earn you thousands of dollars. There are plenty of people who do it every day and earn a living from it.

​

• Downloadable - If you're on luvnft.com, only the current owner of the NFT can download the file attached to your NFT. Making it unlockable to the owner. If your NFT has something like, game assets, music, a PDF, or more locked inside it, you might want to buy the NFT just to download that song/PDF/etc.

​

• Immutable - No one can change the metadata on the token, no one can remove your image or the name of the token, etc. This means it will never change, it will never be removed, it cannot be taken down off the blockchain. This is what gives it so much value and collectibility

​

• Forever - NFTs will live on the blockchain forever. Because the data doesn't change, you will always have that token stored in your digital wallet if you buy it. You can always resell that token if you want. Its like buying a bar of gold - you own it, and you can do with it what you want. You're responsible for managing your digital assets.

​

• Resellable - You can always resell your NFT just like any other cryptocurrency. You SHOULD resell your NFT and trade it. You can make some serious cash trading NFTs. Some NFTs have gone for 20,000 USD + when the original buyer only bought it for a few thousand dollars. Making them over 15,000 USD in a short time in ONE trade! NFT marketplaces on Ethereum will charge you gas fees for selling your NFT, LUV NFT marketplace doesn't have gas fees for minting or trading your NFTs.

​

How do I get started with Buying/Trading NFTs?

​

1️⃣ Get Crypto - You need the token associated with the blockchain that the NFT marketplace is on. So for LUV NFT marketplace on Polkadot/Kusuma, you won't need any crypto to get started because we have no gas fees. For Open Sea on Ethereum blockchain you need ETH Ethereum to pay for gas fees to mint your NFT. The most common method to pay gas fees is Metamask.io - then you add some ETH into that wallet. This is required by all sites in order to interact with an Ethereum blockchain application.

​

2️⃣ Find a marketplace.

​

The top NFT marketplaces are currently:

​

[LUV NFT](https://luvnft.com)

​

[Opensea](https://opensea.io)

​

[SuperRare](https://superrare.co) Private

​

[Rarible](https://rarible.com)

​

*there are more NFT marketplaces but these are the leading open marketplaces, others may not be open to all NFTs and only select items*

​

Some of these let you create your own NFTs (if you're a creator) and some of them are closed like SuperRare, where only approved artists can create items.

​

How do I get started minting NFTs?

​

If you are a content creator, whether its artwork, graphic designs, 3D models, videos, PDF, research - it can all be turned into an NFT using platforms like luvnft.com. LUV NFT is the most flexible and has the most possibilities so we will be using it and discussing how you can use it.

​

*Note: there are plenty of places to make NFTs, but they either are: more expensive, have file size limits below 50MB, don't let you control your contracts, or do not offer decentralization.*

​

Minting on LUVNFT.com

​

On LUV NFT you can sign up for an account and then its free to start Minting NFTs. You have three options to select from when you choose to mint:

​

1. 1. Your own store
2. 2. Mint in LUV NFT store
3. 3. Gasless minting and trading

​

Your own dCommerce store:

​

When you create your own dCommerce store, you are making a smart contract on the blockchain - that you own, you control, your the only person who owns it.

​

LUV NFTs dCommerce Store

​

You save on transaction fees when you use LUV NFTs dCommerce store as you don't need to pay the initial overhead of deploying your own store to the blockchain. Everyone can use LUV NFTs store for free and can mint thousands of NFTs in a single transaction doing so. This is one of the reasons LUVNFT.com is the most flexible platform for creating NFTs, nowhere else can you make so many NFTs for so cheap.

​

Gasless NFT Minting

​

You are able to mint directly on LUVNFTs dCommerce store without needing to submit a single transaction, meaning no transaction fees from the blockchain.

​

This is the best way to get started. You can do it at https://luvnft.com

​

​

Minting your first NFT

​

Once you've decided what store your NFT will be minted on - the next step is actually Minting!

​

Once you click mint - you will be taken to a page to create your listing for your NFT and mint it on the blockchain. **Its very similar to listing an item for sale on eBay, Etsy, or Amazon.**

​

​

Have questions? Need help? We are creating guides but in the meantime leave a comment and discuss!