“Alright, Bull Runners, welcome back to the channel. We have some breaking crypto news in the space to talk about today. The Empower Oversight, a watchdog agency, is suing the U.S Securities and Exchange Commission for not complying with the Freedom of Information Act upon their request. So, we're going to talk about that in this video and some other stuff that you need to know that directly affects your portfolio. The agency is seeking information about potential conflicts of interest relating to former SEC officials, William Hinman and Jay Clayton, and their involvement within the cryptocurrency space. So, we have some juicy details that we're going to be dropping in this video. Comment 777 if you're feeling bullish, and as always, if you're going to become the first millionaire in your family tree, you know what to do. Confirm in the comments below. Let's run it!
So, the lawsuit alleges that while Hinman was at the SEC, he received a pension from Law Firm Simpson, Thatcher, and Bartlett, which was an Enterprise Ethereum Alliance member at that time. Hinman's declaration in 2018 that the Ethereum network and sales of Ethereum were not securities and transactions coincided with a significant rise in Ethereum's value, and the SEC filed the lawsuit against Ripple and XRP in the same month. Very interesting timing, right?
The lawsuit also mentions Clayton, who stated publicly while at the SEC that Bitcoin was not a security. After leaving the SEC, Clayton joined One River Asset Management, a cryptocurrency hedge fund that focuses on two cryptocurrencies, Bitcoin and Ethereum. Empower has previously taken the SEC to report over these requests and is pursuing the SEC conducts legally sufficient searches to fulfill Empower's requests, which is saying the SEC has consistently stonewalled.”
“So, if it's true that Hitman received a pension connected to Ethereum, I wonder what Gary Gensler is getting behind the scenes, especially since he met with Sam Beekman Freed several times and didn't file a single lawsuit against FTX. He has been Gung-Ho about going after Ripple, specifically. It's very interesting how powers at the top can be corrupted by payouts. You saw how Sam Beekman Freed swindled his way into the Republican and Democrat Parties by donating on the dark market and then came out saying all this stuff. Once we start to see this stuff revealed, we'll be covering it on this channel, exposing the lies, bringing you the truth, and helping you educate yourself for the future so you can preserve your finances. Everyone wants to know what they should put their money into, and I'm going to share some powerful stuff with you guys. Bitcoin and Ethereum are the only two classified as commodities. Should you put money in Bitcoin, should you put money in Ethereum, or should you YOLO your money into meme coins? What should you do? Obviously, I'm joking around there, but in all seriousness, you see something like Pepe take off, you see what happened with Shiba, Dogecoin, and all these meme coins. It's a mania, a craze right now, but it doesn't last because anyone in their grandma's basement can create a meme coin and pump it with some marketing. It's a lot of nonsense out there. So, I want to help you preserve your wealth just as much as I want to preserve mine. You know, I became a millionaire before 30.”
“You know, I wanted to not only scale my income, but also protect it. When you learn how to save, manage, and grow your income at the same time, and have a specific model that works for you, you can position yourself ahead of everyone else and help lift others up by educating them, liking this video, and sharing it with others. With Ethereum and Bitcoin being classified as commodities, hedge fund manager Paul Tudor Jones said that Bitcoin has become less attractive due to regulatory pressures in the US and lower expected inflation. He previously praised Bitcoin as an inflationary hedge, but now believes that the entire regulatory apparatus in the US is against it. He added that he expects inflation to continue coming down, making the outlook for the cryptocurrency industry and Bitcoin specifically less bullish. Let me know your thoughts on this. I will unpack this in the video and share some charts with you because US regulatory bodies have become more hawkish towards the crypto industry following events that happened in 2022, including the collapse of FTX and the SEC's threat of legal action against Coinbase with their Wells. I covered this in previous videos. His comments suggest that his sentiment towards Bitcoin has cooled since he previously said in 2020 that he would allocate up to 5% of his assets to Bitcoin as a response to monetary debasement from the Federal Reserve. So, in the long term, he is super bullish, but in the short term, based on what the Fed is doing, he is bearish.”
However, in October 2022, he described his allocation to Bitcoin as minor, saying that cash is the place to be as long as the Fed can be trusted to control inflation. But can the Fed be trusted, or is inflation going to be let off the leash? Is it going to be like a pit bull that tears apart a poodle in the park? So, as far as the Fed's rate hikes have brought inflation down, dropping it from about 9.1 percent in June of 2022 to 4.9 percent in April of this year, they're still nearly double their two percent target. Wall Street banks are expecting one more Fed rate hike at the next meeting to try and drive inflation lower. However, this is going to put more pressure on the banks, consumers, and the economy. So, what do you need to do to prepare? When we look at the Purchasing Managers' Index (PMI) chart, which measures the level of manufacturing and services availability in a country, a PMI above 50 indicates expansion, while a PMI below 50 indicates contraction. Currently, the economy is contracting. This index helps investors understand the overall health of the economy and the globe, and right now, we're below 50. The last time we were there was during the pandemic of 2020, and what's interesting is that it started declining back in 2018 before the pandemic even hit. So, when you look at the chart right now, when the declines started and where we are in comparison to that, could we be seeing some other type of pandemic? Joe Biden said it himself; there will be another crisis, and we need to be prepared for that.
Another important chart, and I don't believe a lot of the stuff that guy says. But if he's saying it like that, it might be trying to prepare people for what they're doing and planning. Another important chart for us to look at is the unemployment rate chart. A low unemployment rate normally suggests a healthy labor market and overall economy, while a high unemployment rate can indicate a recession or economic downturn. With April's unemployment rate coming out at 3.4 percent, Biden has been bragging about having the lowest unemployment rate since 1968. However, that's not good for bringing down inflation because unemployment needs to go up or interest rates need to rise, or a combination of both, to bring down inflation. Since unemployment has been dropping since 2020 and interest rates have been rising, this means that the Federal Reserve may need to continue to increase interest rates to combat rising inflation, even if it means potentially slowing down economic growth and causing unemployment to increase. The relationship between unemployment and inflation is super complex, so I'm going to dumb it down for those of you out there who are like me or need a picture book or real-life examples. You need charts to show you why this matters for the future and what's going to happen in relation as assets are compared to each other. Typically, a low unemployment rate can contribute to higher inflation, and that's the reason.
Why? Because businesses may have to pay higher wages to attract and retain workers, leading to increased costs that are passed on to consumers like you and me. So, expect persistent inflation for the rest of your life. If inflation reaches their two percent target, they will have persistent inflation, regardless of when they get down to that point and when the Fed will pivot, pause on their rate hikes, start lowering the rates, and how that will affect the economy. I talked about this in previous videos, and it's not looking good. The spending power of the dollar will continue to decline, regardless of inflation, meaning that the real value of money will keep decreasing over time. If you don't understand this stuff, I know you're intelligent, so I won't insult your intelligence. I'm giving you some other examples so you can increase your understanding of what's about to happen. What that means is you're going to need to spend more money to purchase the same goods and services that you used to a year ago. Eggs are going to continue to go up, and the cost of living is going to continue to rise. Let's say you have $100,000 in your savings account that you plan to keep for ten years. If inflation stays at a steady two percent per year, over time, the value of your savings will decrease by about 22 percent in terms of purchasing power. If the best-case scenario is that we get down to two percent inflation, inflation tends to keep bouncing back above that, so that's the best-case scenario: 22 percent of your value lost. So, if you're planning on just throwing all the money you make from your job in a savings account and retiring on that, good luck.
That means that in 10 years, your hundred thousand dollars will only be worth about $78,000 in the best-case scenario. In terms of what it can buy, even though the nominal value of your savings remains at a hundred dollar face value in your bank account or let's say you have a hundred dollar bill, it still says a hundred dollar bill. The real value of that decreases by two percent every single year due to inflation. To maintain the same purchasing power over time, if your wages aren't changing and you're not getting paid more at your job, your savings would need to earn at least a two percent return yield per year. If you look at savings accounts, there's no way that they're doing that. It's like point zero, zero, five percent. They're not paying you two percent a year on your money if you keep it in a savings account because the banks are putting that into bonds and using that money to make more money. So, a lot of these banks are getting risky because they know what's happening with inflation. With what the Fed's doing right now, it's choke-holding the smaller banks and moving money into the commercial banks from the regional banks, so your savings will keep losing money year after year. That's what we're here to help you prepare for and have a contingency plan so you can beat that two to two-point-five percent or nine percent inflation when inflation rears its ugly head again. That's not even considering the taxes that you have to pay on your income for state, federal, sales tax, living expenses, food, travel, birthdays, Christmas gifts, and assuming you earned a hundred thousand dollars a year.
Let's say you live in California. Well, if the FED can get inflation down to their two percent target, your after-tax income and purchasing power would look like this:
1. You have your state tax. California has a progressive income tax system with rates ranging from one percent to 13.3 percent, assuming a nine percent tax rate. The state tax would be roughly around nine thousand dollars. So, if you take a hundred thousand dollars and multiply that by 0.9, you'd have about ninety-one thousand dollars left after they take their state tax. That's why everyone's leaving California.
2. The federal income tax is also progressive, with rates ranging from 10 to 37 percent. There are talks of raising that for people who make over four hundred thousand dollars a year. So, they're going to tax the rich more, and they're going to tax everybody more because the FED is out of money. They need to make more money to pay off their debts and obligations to other countries by taxing everybody more. Taxation is the biggest highway robbery job of all time. Assuming a federal tax rate of 22 percent, the federal tax would be about twenty-two thousand dollars. So, you have roughly seventy thousand dollars left.
Then comes sales tax. California has a statewide sales tax rate of 7.25 percent, the highest in the nation. It's one of the highest in the nation. There might be some states that are higher. Correct me in the comments below. Some of this data may change by the time you're watching this video.
Depending on if you have kids or not, that's going to determine how much you need to spend to eat or buy basic necessities for your kitchen.
You know living spaces out and about, so it could range from $5,000 to $20,000 a year for some families. Let's say you spend about $10,000 for the year. You have about $60,000 left, and then you get taxed on the sales tax. After that, you have your rent or mortgage. A studio can range from $1,500 to about $2,000 per month, while a four-bedroom can range from $4,000 to $7,000. Let's say you find a studio for $1,500 a month in the hood. That's $18,000 per year, leaving you with $42,000. Then there's inflation. Assuming a 2% inflation rate, best-case scenario, knock another 2% off your spending power. After 12 months of that, you saved up, and you have about $40,000 left. Then take your car insurance and car payments. If you don't have health insurance through a job, you have your dental, cell phone bill, birthdays, Christmas gifts, alcohol, vacations, going out and about, and anything else you can think of. Because you're not monitoring where you're spending all your money, when you check your bank balance at the end of the year, you wonder where it all went. Then you're scrambling to find a meme coin to get rich quick, and that's why the meme coin craze is going crazy. It's because people don't understand this stuff. I know you understand this stuff, but you need a friendly reminder of why it's important to take your future seriously. So you don't have to be in a panic, stressed-out state all the time. I feel very relaxed because at an early age, I didn't understand this. Now, as I get a little bit older, I am passionate about learning and teaching this to other people. I'm learning new stuff every single day.
“As you are, that's why the vast majority of the world is stuck because the education system does not teach this stuff. So, we're waking up the world, changing the world, and helping! You need to rank up your finances because monetary policy, inflation, interest rates, consumer spending, and international trade restrictions are having significant negative impacts on the economy. It's about to get even worse with this trade war, currency war, and potential kinetic war that we're leading up to with China. So, what are you doing to prepare? The global financial landscape is rapidly changing, and the US dollar, which has been the world reserve currency for over 77 years, is losing its grip in the BRICS nations. They've been working tirelessly to create a currency that can rival the dollar. With inflation on the rise, it's crucial to take action to protect your savings. Investing your hard-earned money in crypto stocks, real estate, or even keeping it in the bank won't cut it anymore. You need a tactically superior plan to get wealthy before the Fed pivots and starts lowering their interest rates and introducing their FedNow payment system and CBDCs to track and monitor all of your money. Otherwise, your entire portfolio and retirement are at risk.”
When the market crashes again, and if you're wondering what you can do to safeguard your finances and live a life of freedom, this is what I did to become a millionaire before 30. In my experience, the best way to build wealth is to educate yourself on how you can leverage artificial intelligence automation combined with software as a solution to generate passive income in the digital e-learning space from anywhere in the world. The AI revolution will take over the world in the next 50 years, even bigger than the Industrial Revolution ever did. Millions will lose their jobs, but also millions will gain new jobs as they learn to leverage artificial intelligence. So, you don't have to worry if you position yourself properly. My business partners and I have done over 100 million dollars in sales in the past 25 years for every type of niche you can possibly imagine, from crypto, NFTs, real estate, affiliate marketing, network marketing, direct sales, solar, health and wellness, travel, and leisure. We've done a lot of different industries, helped a lot of different business owners, traditional offline businesses, and online digital marketing businesses, all by leveraging artificial intelligence software, automated sales funnels, email marketing, search engine optimization, optimization for YouTube and Google to drive more leads, more sales, and more money to any product or business. What I want to do is invite you to join us for the launch of our digital franchise model that you can leverage to earn your first 100K online. If you don't currently have a business, maybe you don't have a product, and you don't know where to start.
“You don't have a service and want to learn how to start and grow a hyper-profitable digital business online, or you're currently stuck in your business and want to scale beyond that nine-figure mark in sales. Then, what you need to do right now is: number one, subscribe to our daily video newsletter by clicking the link in this video's description to get on the early bird list. This way, you can leverage our artificial intelligence digital franchise model and start making money today. Number two, you'll be notified first when we launch, and you'll be able to network and connect with other truth seekers, digital marketers, and affiliate marketers like you, people interested in crypto, real estate, and precious metals to start learning and earning together. Inside our online business app and network, we have an exclusive private, decentralized community that is ad-free, and we don't censor your opinions, so you can share the truth with each other to educate each other. After doing that, like this video and comment 777 below, so I can see that you made it this far into the video and are committed to your success. Together, we're backing up our truck all the way to the banks, grabbing the bags, packing them, and stacking them, leaving no bags left behind because the spending power of the dollar continues to go down in value. That's a fact. I'm an American, and I'm patriotic. You know I wish the best for this country, but I cannot ignore the facts, and the Bull Runners Club is going all the way to the beaches of the moon. So, I will see you on the next video. I will see you on bullrunners. com. As always, you know what to do. Stay bullish, meet me at the bar, and I'll show you that the money goes far. Take a sip, and you'll feel like a star, looking at the babes. I can show you how to ball, drip all on me, play.”
“So, we look like a guitar. I can show you the way we are: 100x, Challenger Beach, Vibes Bull Run. Come with me. [Music] Hold on tight for the ride. Come next to me. Yes, come for the money and you'll stay for the show. [Music] There aren't too many who can follow this [Music]. [Music] You'll learn the tips and tricks right here on the floor. When you're here, leave your worries at the door. Look around, I'll show you just what's in store. Yeah, yeah, a change of space for you like never before. Alone, [Music]. [Music]. Thank you! [Music].”