0:16
Hi everybody, this is John Jay, Thanks for joining today's Thursday evening. It's August 18th and I'm just going to start out with a few references. You can look at, is of coins dot com for more information on what I'm talking about. Also, privacy ... dot IO is a collection of video content that explains a lot of these subjects that were covering, most of which, I mean, it has a lot to do with crypto investing. And tax planning and things like that. I call that financial risk. And then there are other sections in the video, a membership that talk about other more general ideas on financial risk. And then also I wanted to today I did a call with a rogue news. And we were talking a bit about this. This news on the IRS adding 87,000 more employees and getting a whole bunch more money, I forget how much it was like $80 billion. And so we were, we were discussing that today.
1:10
So I just wanted to summarize that, and are basically the conclusion of, what we were talking about, is that, it is a 10 year plan.
1:17
And so it's not immediate, and people, I think, have a tendency to be afraid of that. And all it really means is, they'll just have more people and as long as you're doing the right thing, you're not gonna have a problem. And you know, if you're gonna get audited, you're gonna get audited. I don't think it matters.
1:31
And at the same time, the system is so well automated that the IRS doesn't need to add employees to keep on doing what it's doing. I mean, I'm sure there's some, there's some purpose there, But 87,000 employees over 10 years is 8700 people on average, right?
1:49
And it just so happens that 52,000 existing employees are, are scheduled to retire.
1:56
Alright?
1:56
Not to mention those that left their jobs because of the fake public health emergency, OK?
2:04
So, really, the net effect of adding these new employees is like 35,000 new IRS employees, 3500 a year.
2:12
I don't know who's going to interview all those people. I mean, I'm sure they're going to do it.
2:16
And so, I think the bottom line is that, I don't see any significant changes for us.
2:22
Just keep, you know, doing the right thing. And as long as you're not going to give the IRS wrong information or file frivolous returns, you're going to be fine, I wouldn't be too concerned about it.
2:31
What is interesting, though, is, as I was doing some research on this, I was looking at, there's a, um, I should probably put the link here.
2:38
There's a congressional, the Congressional what is it called?
2:43
The Congressional research service actually discloses how this money is going to be allocated. throughout the IRS. They need a lot of intake curves, if you will. I guess those are the people that stamp the Document Locator number on the tax return. And I say stamp figuratively, because I think people, that file electronically get some sort of other treatment. I don't know, but it's still an accounting function of the United States. It's not going anywhere, Irish is going to be around, Like, I was saying, in my last video.
3:09
And, so, so, what was interesting is, I want to cover this briefly.
3:14
And this will be the, this will be the end of my, my, my intro here, on, uh, on Forbes.
3:21
Not that I find much credibility here, on Forbes. I think it's some sort of propaganda channel.
3:26
But it does say, it does give some correct information about the criteria for saying yes or no, as to whether or not you purchase Kryptos. So what we're talking about here is on Forbes.
3:39
There are the question on the 10 40 for 2022 or 20 21, whether or not to check yes or no. As, you know, if you had Kryptos, the criteria are that number one, If you're holding.
3:51
And I'm reading this from the article, so if you're holding virtual currency in your own wallet or your account, that is, that disclosure on the 10 40 is a no to the question of, do you own virtual currency, OK? Just holding virtual currency, like if you had some from last year, right, and you're just still holding it. The answer is no, OK, on that 10, 40.
4:15
Remember that question is not about how much money, or how many dollars worth you have.
4:20
It's just whether or not you have it, OK. And, again, Bying, cryptocurrency, is not taxable.
4:26
That's why I don't care about KYC, because we have control over the back end of how we use the money number to transferring virtual currency between your own wallets or accounts, and this is what I've always explain to people from the very beginning.
4:42
I mean, I guess I've been talking about this since 2017 in a popular way, But if you're transferring between wallets that you own, then guess what? The beneficial interest don't change, right? So therefore, there's no disposition of the asset, and there's no tax consequence. There's no reporting a consequence. And as it turns out, on the 10 40, where it asks, if you purchased our own virtual currency for that tax period, you would say no.
5:11
For the reason that you are only moving coins, you already had in your own wallets, OK.
5:15
Now if you move some coins to someone else's wallet in exchange for a car, yeah, they probably wouldn't see that. And yeah, you could probably say, you know, ignore that transaction.
5:24
But technically, that would be a yes, OK, on the 10, 40.
5:29
The other thing is purchasing third one is purchasing virtual currency. Using real currency.
5:35
Ironically, if you do that, if you use dollars on any platform to buy cryptographic currency, that is a no.
5:42
On the 10, 40 now if you're using coins to buy someone else's coins, strangers coins, someone whose beneficial interests are different from your own.
5:53
That is a yes. On the 1040 that is considered a purchase.
5:56
But if you're just taking your dollars on any platform and acquiring the coins and you're spending the dollars and you're getting the possession of the coins and the private keys or you're going through a custodianship like like block like Coinbase that is considered a purchase of coins.
6:14
And the yes on that question.
6:16
And the fourth one is It says engaging in a combination of holding transferring or purchasing currency as described.
6:25
So, any combination of the three is reportable or not reportable. On the 10 40. In other words, they're asking you, if you have virtual currency are invested in it, your answer would be no.
6:35
The only time you answer yes, according to what these criteria are and these criteria, by the way, have been consistent Every single year.
6:42
I guess, since they made it popular. I guess it was in 20 20 or 2019. So just as long as they're not bringing in third parties, you can pretty much do anything you want now, if there's a disposition of the coin for dollars, it's the opposite, OK now.
6:55
We're talking about some sort of game and there's that aspect of it and we can deal with that. But for the most part, you'd be surprised. Most of what we're doing is going to be a no on the 10, 40. So I hope that doesn't confuse anybody and I can send you the link to this Forbes article. But if you look it up, I mean, if you just search on the term, you'll find it. It's it's uh, Let's see, you want to look under, like, search on the Internet for IRS to add 87,000 new agents. Right? If you search on that, you'll see the Forbes article two recent article.
7:26
Yeah, that wasn't actually a few days ago. I was like, last week. Did it seven days ago?
7:30
So Anyways neff of that, let me see if any guys have any questions See here, right.
7:41
I'm going to adjust my screen a little bit.
7:45
All right, did I, I hope that wasn't something that of interest. I don't, I like to talk about stuff that you guys care about, OK. So, Marvin, you have a question.
7:54
Go right ahead. Yes, OK. All right. Good. Thanks.
8:01
I just wanted to thank you, helped me started LLC a year ago.
8:04
So, I want to OK.
8:10
I'm in a partnership, and we're looking into starting the exchange, I guess my question: is a crypto exchange.
8:18
Can I use my LLC to do that?
8:21
And then, my other question would be, Would I be protected on the same?
8:26
Um, laws as my LLC system join, and, partners, would be a beneficiary DOB trustees, and the company, and I will be a beneficiary, That's why my LLC, you could do it that way. You can do it, certainly, that way. You can, even, because you have a real partner, you can actually be the owner of the LLC with your partner and still get the same benefits.
8:47
You don't even need to separate out your ownership into a trust. So, either way is fine.
8:53
This is going to be under a decentralized, autonomous organization? Even better that's even better, Are you going to get any licensing?
9:02
Yeah, we're working on that right now, OK. Yeah, that'll work, you can own it, as long as you have another partner, I wouldn't own it 100% by myself. If I'm by myself, I'd use a trust, but, yeah, either way, we'll be just fine.
9:14
But this point in time, and this moment, I'm just going to be a beneficiary, I'm gonna be a partner, but they're gonna have a trustee, yep, that's what trustee that is going to be a, beneficiary of, that.
9:25
Make sure that you're make sure that your interests are expressed correctly in the trust instrument.
9:33
OK, and I will go about it like I would do normally.
9:36
Like I Wouldn't: would I file at the end of the year, yes or no? Or would I be considered a contractor?
9:44
Well, you just described how the trust would own something that would possibly make money.
9:50
So, the trust would have its own tax treatment, if the trust files a return, which is optional.
9:56
No, the trust can be a pass through.
9:58
Right? So, if the LLC pays the trust, that's one thing that's not a taxable event. But if the trust pays you, or you use money out of there for personal gain of some kind, like you paid off your credit cards, then that would be considered your income. And to that extent, you would include it as other income on your 10 40.
10:18
OK, You have control. Yeah, you have control totally.
10:22
yeah Awesome, Thank you, sir.
10:25
All right, Good luck with that one.
10:26
Sounds great Decentralizes the way to go it looks like D a Os.
10:33
All right, mark What's going on?
10:39
Hey, John. How are you all right, I just looked at telegram so I saw I just saw your message now. Do you want to set a time now or are you not quite ready to do that yet? Not yet. I just give it some thought, and I was like, OK, let me just go do the thing, because I'm just going to tell you on the phone. Hey, let's do this. And you'd be like, OK, I just figured. I'll do it, and then you'll look at it. And so, basically, you have a pretty good agreement. Is nothing wrong with it? I'm just thinking to nail it down.
11:05
You want to protect your interests and this is a professional service that kid.
11:09
I mean, you can't patent Jumping Jacks, right? But you can create a non-compete agreement and you can have licensing of the use of your facilities, like software, and things like that. So we're gonna put those provisions in there. All right. And then also, I'm gonna show you how to do a, um, a privacy statement on your website.
11:28
In terms of service and all that. There's actually, you do have that. You've got something special. I use a service called ...
11:36
that just like scans, all of the plugins I use on my website and spits out a, Jen like a generated like use. I like it. That's even better. Be aware that there's some creepy attorneys out there that are suing people for ADA violations because the website isn't compatible for people that are blind. Yeah, OK. That's because I was like, well, people aren't going to be using my website. If they're blind, nobody was that they know. Well, they won't. But what I'm saying is these idiots, they are discrete, yeah, yeah, So they can make money. So It's like come on people. This is made for people that really have a problem that they want to have denied something they need come on doing this, but they're they're getting away with it So just you know, I had that in mind, so OK, OK, yeah. Well. That's that's super useful to know, OK, well, then I'll just I'll just wait let me let me Johnny got 22 people signed up. So excellent I'm pretty happy with that, so all right. Nice, yeah, all right, cool.
12:34
Well, I'll keep looking for your messages on Telegram that, but that sounds familiar place Yeah, that is it seems to work out. pretty good. All right. Thanks so much, man. All right.
12:46
All right, So what else you guys working on, you already know that stuff about the 1040 Right? The Sold News.
12:52
Nothing new there.
12:55
All right.
12:56
Well, the thing going forward is, Elaine has a question. Go ahead.
13:03
I forgot to unmute, OK. All right.
13:06
I am just having such a terrible time trying to open this account in Oklahoma and I was rereading the Readme first thing, and they were talking about a registered agent, and also about domesticating it, because it's not in Oklahoma, it's a, it's in New Mexico, LLC, what kind of bank are using? This is the credit union. I was just going to stick with chase Chase, should work over the phone, wherever you are, They shouldn't have a problem. I've not had a problem with Chase doing that.
13:42
That's weird.
13:43
I'm doing something wrong, May, I may be filling out the application with the wrong information, and then I took a bunch of screenshots, Which I'd like to be able to show you.
13:53
So I don't know if I can put them on Zoom, And What does this specific reason why the bank won't open the account? That helps me to to No. No. I don't get a specific reason. I got to ask them. They gotta tell you why what why can you not opened my account?
14:14
OK, well.
14:17
Yeah, I don't know. I mean, Chase has the least problems over the years. In fact, we've been using Chase Online since 2009, as far as I remember.
14:26
Over over 14 years now. So, something like that.
14:30
He did, I did speak to somebody at the bank, Tulsa and he said that, Oh, then, there was an issue about the weather.
14:39
I was a member, or an owner.
14:45
OK, Well, you know, you have all kinds of corporations where the signer is just the accountant for the company, Why does the signer have to be an owner, and I would ask him that question, just ask it to a regular person that you know the guy you're talking to at the bank. Why would I have to be an owner when IBM doesn't have to be the owner?
15:00
What, what about the the account, Who opens the bank account for IBM and he doesn't own any stock, is he required to go out and buy some stock so he can open an account for IBM.
15:11
You know, why are you making that for me? Why do I have to do that then? Why am I different?
15:17
Right? That's just like a casual conversation.
15:22
So I don't know what, I don't know how to get them to do it. It's almost like a negotiation and maybe it might require more shopping around.
15:30
one time, we had a big problem with Bank of America, and my, or the client was so patient. And she, she was. she called me on the phone, and she tell me what she went through, And I was like, Wow, that's amazing that you even had the patients for that. And I said, I hate to tell you this, but if you just come back tomorrow at the same number, you're gonna get a different person, and you'll get the account open. And sure enough, in one minute, she opened the account the next day with a different person.
15:52
I don't know if that helps, but I really need to talk to you, but I don't feel right taking the Zoom chat to the .... No problem, So Can I just go ahead and make an appointment yeah? I'll just give you a ring or we could talk on telegram.
16:08
All right.
16:09
Yep, OK.
16:12
Thanks, line. Alright, Alright, and a Lean, lean us about, did I say that right?
16:20
Yeah. Hey, hello. Hello. All right. Good. So, yeah. Last year, we opened up the LLC with you for the Wyoming LLC. I just had a quick question for the year, like as far as renewing the filing fee. I know that Wyoming, we have to do a yearly, and there's like a section, that, basically, if you do it all online, there's like, it says, filing fees list, only assets located and employed in Wyoming. So, then there's like all these things that cash and inventories, US government, I want a balance sheet because they're gonna try to establish attacks.
16:56
So, everything should be zero, Everything should be zero, and then, is that an annual report, or it's a separate annual report filing fee.
17:07
OK, I just want to be careful that it's not something you don't need to submit to them. Because, because if you, if you're being prompted by the, I don't think Wyoming has a Department of Revenue.
17:16
I have to go, look, I haven't had this before, but sometimes they trick you into opening an account with the state Income Tax Authority, and then you're, you're done. I mean, they're just gonna keep harassing you forever. Once you open the account. Exactly. That's why I wanted to be clear. As far as, like, if the system, right? Well, I know if I should do let me see what it looks like. Is there a form number? Because I could probably look it up online.
17:36
Yeah. It's on. Let me just wait.
17:40
Sure.
17:43
It says, the Balance Sheet is provided below similar to Schedule L of IRS Form 120 or 120 S alright. You don't want to do that.
17:52
No, no, no, No, Stay away from that. All you want to do is an annual report. Which basically is a restatement of your articles.
17:57
OK But it does say annual report right on time. I'm looking at it. I'm looking at right now, let me just, let me just open it up, oh, it's asking me for a filing ID.
18:11
I want to see the action, I have to see the form, OK? I'm going to screenshot it and send it to you, please tell it, I don't know, Telegram, or send it by telegram, Please.
18:21
I can look at it like tonight or something, and I'm sure it's a quick answer, OK. But you don't wanna get tripped tricked into opening a tax account with them.
18:30
Exactly. That's why I was like, very clear, because I remember you told us that last year, to be very careful not to do the filing, yes, I just wanted to make sure. But, OK, sounds good. It's good to know, and everyone else to can, you can hear that. and also, I haven't had problems with Wyoming or Arizona. That's why I like those states. But that's the first time I've heard that.
18:49
So maybe they changed there their gimmick. Alright. Alright, thanks a lot. I look for you. Alright, Michael. What's going on?
19:00
Hi, John.
19:02
I want just one comment on the other lady had trouble opening an account. Opening, I opened a crypto IRA, and the banks wouldn't touch it when I said crypto. But then there's a, yes, Celera Bank online that they recommended. They opened it up right away. Sure.
19:17
Anyway, I spoke to you the other week. I'm, I've got a complex situation. I've got several LLCs and rental property, and after consuming your con, your content, they're not set upright.
19:29
But I just want to invest way, to, try to consult with somebody on your team, to make a game plan as it, should I set up a consultation online, or? Yeah, That's the best way, just going ... dot com.
19:38
There's a calendar up there, and I just added like 10 more day, 10 more time periods for the week.
19:43
So there should be a lot more time going into the fall.
19:46
And if you already a client, like, if you've already paid for anything, and I know I tell people, you know, it's a service for a year, but I don't care if you sign up three years ago, it's, I'm not going to count. So just use the code free SEO, and 2, 0, 2, 2, and it waves the fee.
20:03
And I'm just going to trust that people, you know, do that, who are clients? So, yeah, go ahead and do that.
20:10
What was that code? Free Con, 2 0 to 2 free conference, right?
20:15
Free con, 2022 OK. I signed up for them. And watching your videos, like, oh great, Yes. I use that code. Yeah. So, yeah, and chances are, it's probably going to be, you know, you're not was there any immediate situation that you think is going on?
20:30
Oh, I'm refinancing stuff. I'm about that.
20:33
Get a loan or a big real estate loan and this. there's just so much going on that. I'm not sure I'm doing it right.
20:38
All right.
20:39
Well, a lot of times, you know the banks, GMU up with the LLC. They don't like to get involved with that so we just eliminate that from the closing. and then afterwards. you just transfer the title How you want as long as you retain the same beneficial interests.
20:52
There'll be good with that, OK, Well, we could go over that, but yeah. Please schedule.
20:57
OK, great. I won't I won't take any more time here because it gets complicated.
21:01
Alright, no problem. Thanks a lot. OK, Apples. Michigan.
21:05
Yeah, it's me in Australia.
21:07
So I was opening the stuff with Caleb and Brown and I don't know because they're based in Australia if this changes their laws but didn't register obviously with Australia. So they're demanding information on the members and beneficial owners of the association, whether it be through the terrestrial membership ownership, and I'm sure they just say you are, in fact, their documents are written to show that you are.
21:28
Well, I had We changed it, I think for charging order, but I changed. It was all the authorized signatory was my Mom and I on the LLC documents. And that worked obviously with the Bank. But does that make her a member of The PMA then no, unless the membership has expressed that? There's a PMA. That's the member. That's the only member, then. That's the only member. So they want to know who the beneficiaries of the PMA, which really they shouldn't be asking that, but keep in mind charging order doesn't matter. If it's out of the country.
21:55
In that particular situation with Caleb Brown is completely different than any other jurisdictions. And I'll explain that in a second. So it's not it doesn't matter about charging order and in Australia.
22:09
All right.
22:09
So you can you can just express that you're the only owner, but if your mom's name is on there, just go ahead and, you know, do the KYC for the both of you and say that the both of you are the beneficial parties. And the PMA, yeah, yeah. Yeah. And here's what qualify this on, the ... Brown when I first heard about them in like 2017, I was like, Oh great, a bunch of people in America and the states are going to go off shore, and they're going to do this and when I researched it, I realized that kill them or Brown is not a financial institution and there's no reciprocal treaty with the United States. So it doesn't bring in Financial Crimes Network like, for example, if you wanted to if you're a US. Citizen and you open a bank account in Panama, they're just going to telling you, OK, And it's going to create all kinds of reporting obligations and penalties if you don't do it. Right. And you can never do it right. But with Caleb and Brown, none of that happens because they're not considered a financial institution and they don't report there's no reciprocal arrangement.
23:02
And so what that means is charging order that would normally protect you in the states because everybody can see everything.
23:09
Kevin Brown is completely different. The only way anybody can reach over into That is if you were, you know, in an in-depth discovery process, or you did a bankruptcy or something, and someone really wanted to get your stuff.
23:23
They could get into it, but for most of us, 99% of the time, you're good!
23:28
You could do pretty much anything you want like that, OK, yeah, so, so my mom and I being the authorized signatures for the LLC did create charging order that is correct, right?
23:39
Yeah, Oh, yeah, if you are, if there's two owners to an LLC, and they're not married. You got charging our protection, if you have a PMA, a single entity. That's the owner or trust? I mean A PMA is a trust. It's a single member owner. There is not charging order, however, that entity is an innocent party.
23:57
So it has the same effect as charging order.
24:01
It's just not charging order, OK, perfect is how to write that PMA for KYC disclosure is that one of your videos?
24:09
I don't think I saw it, but Yeah, I do talk about that.
24:12
In fact, there's several videos on it And what I'm actually doing is basically telling you to do whatever the bank will accept to get your account open.
24:21
Because the only thing that matters is what the articles show as on the Secretary of State's website, it doesn't matter what you tell the back. Right. So, they want to make it to where people like us, are 100% liable for the company they always want, because they always helping each other. You know, they're helping the government get your stuff, you know. So, that's why we're having this conversation. Even because we're having to deal with that. I just wanna make sure I write it properly for Caleb and Brown so it doesn't look pretty good.
24:49
Well, now you'll be fine, however you get the counterpart is great. And then you understand charging order, and you understand innocent party.
24:54
So, you just don't want to be the exclusive owner anywhere, really?
24:58
Right, OK, OK, cool. Thank you so much. All right.
25:07
OK, so anything else interesting. You guys following the news on how the irises getting funded?
25:13
Anybody care? Maybe you don't care. I don't care. But I get a lot of questions. There, some people ask me a lot of questions. Did you all see the video on the Um, I wonder if I published at the 1099 DA.
25:26
Maybe I should publish that again? I'll probably put it out there again.
25:31
There isn't one, by the way.
25:37
Well, good.
25:37
OK, then I'm going to end it for tonight Nothing else. You guys can go ahead.
25:44
So When we're asking the banks for a business line of credit And the bank asks What do you need it for and In our case it's to tie us over until we get A mortgage because we need to we're paying out of pocket for a lot of contractors. And OK?
26:07
So That's the reason should we tell them? It's the same one or the loan and the same bank where where the businesses?
26:14
OK, before I talk to the bank, I would recommend using a broker, because that way, If you tell the bank, you're never gonna until the bank. If you tell a broker, the broker will say, Hey, you might want to do this other thing over here. That way, you can package the thing that the bank will approve. Because there's an expert that already knows how to interact with the bank. If you just guess, as to what the underwriting rules are, you're not going to do well.
26:39
I would, I would go out of my way to find a loan broker, if you can, and run everything past that person.
26:46
I think I would recommend that way. Because, you know, see, they're asking you a question that has certain criteria. They're trying to qualify you, right. Wouldn't it, be nice to know what their criteria are and if you were to ask them, they're not going to tell you, right.
26:56
So you want, you want to go to somebody who already knows what they are, so that's what brokers are good for, OK?
27:03
And John Cahn, oh, somebody was asking something.
27:06
I was just coached on this loan broker, OK, first, the underwriter asked me, like, what do you use this money for them, right? And I want to put up a building. Well, where do we need a plan, A construction loan?
27:18
I was like, All right, well, that's just a thought. And they're like, Well, we didn't know what you use it for. We're not gonna give it alone.
27:25
So then I got coached by my broker, general, general working capital and upkeep of the property. There you go. So so have that conversation outside the bank.
27:35
Because whatever you tell the bank is going to stick with them, right?
27:38
So if you have a private conversation confidentially with a loan broker, then you package it up that will sell, right, the right way.
27:46
Yeah, OK.
27:49
Um, so, and, John, before you sign off, can you can you talk a little bit about what do you think will happen, the economy?
27:59
Our governments want to crash it. But what do you think is going to happen? and what? Well. here's my opinion. I'm like you guys.
28:05
I mean, we're I'm still trying to figure out where this is going, but I think if you look back for the last at the big till the beginning of the year and just look at a trend, pick a trend.
28:15
Let's pick the price of ground beef. Is it going up? Yeah. It's going to keep on going up. Well, I can. I can tell you that I believe because the cattle ranchers, for example. Now I mentioned beef because it does affect a lot of things. It's a good measure, measurement of things.
28:31
So I see that there's cattle ranchers and they are having no choice. But to sell their stock because they can't. They can't feed the livestock anymore and that because of the drought and the price of hay and fuel and all this stuff, but a lot of those of ranchers are going out of business. They're done and they're selling the ranch. The Government is, paying them enormous amounts of money, five times, what the ranches worth, and so they have no choice but to sell.
28:55
So what that's going to do is create probably a glut of beef in the market and probably the price is going to come down quite a bit.
29:04
And then it's going to go up probably more than you could possibly imagine. Let's say March of next year. This is my guess.
29:11
Um, so, if you see that happen, I would, I would invest in, you know, buy some and store it, right? Take advantage of that, that trend.
29:19
You're gonna see a trend, an upward trend, of course, and fuel. I think all of this is deliberate. There is no, there is no coincidence here. There was a deliberate and move to destroy. Many, many supply chains and many of those are going to be gone permanently. It's going to take awhile, maybe my estimate best estimates in a two year period. We will find replacements for the supply chain, but I think what's gonna happen is you're never going to see the prices we had last year, or the year before its new forever. It's going to be changed forever, so, I don't know that. you have to be some sort of, you know, rocket scientist to figure that out.
29:52
My thinking is, how do I benefit from that? I mean, there's going to be opportunity.
29:56
So, I'm thinking, the, in my neighborhood, I'm saying, you know, restaurants go out. And I'm in Florida, Florida doesn't seem to be affected right now. At least where I am in Orlando. But, I'm hearing from across the country more out west, a lot of supply chain problems. I'm sure the building industry prices have gone up by 30, 50% mm. So, I mean, the prices that we're getting now for inundation are higher.
30:26
I would say, I would say there are probably 30% higher. So here's what you do. I'll give an example.
30:34
So, a couple of months ago, I bought some land because I'm thinking, all right, there's a lumpers Upright. So, why not go to the top of the supply chain or why not go to the beginning of the supply chain of your natural resource if lumber is up.
30:48
And sure enough numbers, up lumber is going to be up. So it's firewood so our versions of firewood OK meaning charcoal and chips and all these things OK that people need well it price of gas and gas and whatever liquid fuel is up.
31:01
Wood prices are going to probably be up.
31:03
There's going to be more demand for alternate fuels. Prices It's already up more than double. Exactly.
31:09
And so, not only would I get into the production of biomass as a fuel, which about 91 acres, and I'm going to produce fuel, OK, That's a new business.
31:20
And so, I have to there's a way to structure that, and we can talk about that if you want, If you want to discuss the idea. But basically might think it is. All right.
31:28
Well, I see that there's a demand for fuel that is it's going to be greater for things that normally people wouldn't use. So in colder climates like Tennessee and North, I mean, I'm in Florida. We don't care what the weather is. It's always good. But up north, they're gonna get wood stoves, wood burning stoves and they're gonna get a special kind of stove.
31:45
There's a gasification stove, right? This very efficient, and they'll, there'll be burning wood.
31:49
So I'm thinking, I'm going to be the supplier, or one of the suppliers.
31:53
So, I mean, that's just just kind of a one little trend, I don't know.
31:57
Mean, look at, I'm, I'm at an angle right now where I'm seeing where I had this other service, where we're dealing with the fake public health emergency, Right. And those people are getting fired because they're not participating, and all this stuff.
32:08
And so I'm seeing that the collapse of the supply chain, because people are not going to go along with this.
32:15
I'm seeing whole businesses closed down because they can't get enough workers because this is impacting. And that's the whole idea. So you're going to see a big collapse. And then what's going to happen when people are at home and they're not gonna get government funding anymore. They're going to be clamoring for this, you know, universal income, right. So what does that do for the economy?
32:34
It's all fake money, there's no value out there, right?
32:37
So I don't, I don't really know what that translates into, but I could just see prices continue. So how do you want to look at it for yourself?
32:45
Look at ride the wave, right?
32:47
What's gonna?
32:49
What can you get into?
32:50
That's going to serve other people, right? And insulate yourself from the whole situation.
32:55
I mean, maybe you need this, you're gonna, you're gonna stay in your fifth aker home. I have, I live on a five acre, you know, a little piece in the suburbs. If I had to, I would build a greenhouse in the backyard and grow some food, and get some seeds, I mean, I just got, you know, a whole bunch of seeds Just to hang onto for next year.
33:15
I don't know, I don't have any plans to, you know, build something. Yeah, and I'm just saying no, I don't know if that really answers your question, but I can say that I'm not I'm not one special that talked about that, but I I look at things like an entrepreneur.
33:27
I look at, you know, what's at risk and what is in demand, where the trends might be.
33:33
I'm seeing I'm seeing a trend where people need manufacturing for parts they can't get parts and I'm seeing a trend that's actually developing where people are using three-d. printers to make the parts right here in their backyard. That's incredible.
33:46
Oh, yeah, yeah. In fact, I found out I found a Filament. I'm not going to give names, because this is going to be something I want to do. I don't want to tell you guys. I'm sorry but there is a Filament.
33:57
I should probably stop talking now but there's a filament that would replace Steel.
34:02
It's a high density resin that can be printed, excluded, if you will, in a three-d. printer And it can: you can print car parts and HVAC parts and plumbing parts. Wow, that anything Yeah. You can do it on demand. And there's actually a service right now that will do it.
34:20
If you just send them the file, and some of the manufacturers already figured this out, and they're not even charging money yet, they haven't even figured out that that's duska, that it'd be the future, they just think they're doing it temporarily. Any kind of licensing for that. That's what I'm saying. They're doing it without licensing terms, and I think they're going to be sorry that they did that.
34:40
And I think in the future, that this is a very slick way to produce implements and parts for things that we need, especially car parts.
34:50
So, anyways, you will be another trend will be persecuted for that prospect. No, No, no, no? Well, it's not like the movies. OK? There's not this big lobby like the Motion Picture Association of America. There's not that big lobby for like car parts.
35:03
There is, but they're not. It's not like the movies, OK? So, there's, there's a different money base behind car parts, but there is still that intellectual property aspect of it.
35:13
Like for example, can I, can I take the, call it the, the throttle body, out of my F 150 and then print it and then sell it without any royalties to the manufacturer and the patent holder? I don't think so right now. Right, so even even Ford has to pay Mercedes for its braking systems, right? They have a licensing agreement.
35:37
So when the printing of parts becomes mainstream or close to it, the companies will wake up and go, whoa, we just have a whole new licensing scheme, and that's going to happen. Now, for the people, like you and me, I'm a person that will say, I will gladly violate someone's patent rights to produce a product for as long as I possibly can. And then when they catch me, I'm just gonna shut down what I'm doing and do something else because ***** them because they've been making a defective product for years. In an example of that was his internal combustion engine. Don't get me started on that, So, yeah, I read your blog, All right.
36:13
So yeah, so we've been using and buying defective products your vacuum cleaners and all these things, OK, so I don't care what they think and if they want to make us think about it, fine, whatever. But as a business, I mean, you kinda have to stuck with, you want to do the business right? You want to have your license can place.
36:31
But if I want to just go scan an HVAC part from my neighbor because his HVAC working great, and I just need his part, I'll just scan has part printed on Shapeways and have my HVAC guy install it.
36:44
This takes me a week. Yep.
36:46
Yeah. That's exciting. It sounds like, I think so, oceans are already, yeah, reduction.
36:53
Yeah, I mean, as far as our regular experience, I think people are realizing that there are no more hospitals. There are no more schools. There are No, it's all in competence. It's all drug dealing. And so people are, like, wait a minute. We didn't need is, we didn't need these creatures 100 years ago. My grandparents were just fine.
37:08
You know, the slaves on the plantation, you're back in the 19th century, they took Turpentine, they stayed in good shape. They probably ate one meal a day. They were lucky in that that made them healthy. So anyways, I think We're starting to realize a lot of these things. So I guess, look at the trends for this year. And look at core things like the sale of meat. Like the sale of grain, I'm seeing that there's going to be possibly a very deep grain shortage.
37:30
This fall, I'm hearing from people that are farmers, they're saying that the foragers on their farm like squirrels and these types of animals, they're witnessing them.
37:40
Hoarding food that like they've never seen before.
37:44
Animals are smart.
37:46
They, they know, when there's going to be a harsh winter, and if there's a harsh winter on food supply, I mean a fuel supply, it's going to affect food supply.
37:53
It's all across the board, So I expect a harsh winter, sorry to say. So, yeah, they're friends, they're doing with the weather modification, and sure, I think it's deliberate. Can bargain everything. I think I hate to give them credit for that, but I think they're doing it in animals as possible. Yeah. So that's, that's my layman's understanding, who knows.
38:15
But try to be in the top of the supply chain. If you have, if you have the chance.
38:21
All right, and who was first here? Elaine, I think you were.
38:24
You were, I'm sorry, Hillary, did you have anything else Anybody catch up?
38:28
No, No, OK, Yeah, Good question. Elaine, what do you think? OK, I'm gonna go out of food, is incredibly important, Van Gogh's, So going back to my little bank account. OK, so I'm in New York City.
38:43
Calvin can't know that I'm in New York City, my, my LLC is in New Mexico, and I knew bank in Oklahoma?
38:54
That's, I did, let a lease agreement, which, you, as you, described, to do it and it got it right in New Jersey Because they think I'm here vacationing, OK.
39:06
And so, I was looking at your readme first thing in trying to figure out, when do you need a registered agent? Is that something that would help message? I didn't understand when you're getting so much trouble setting this up, no matter how I fill it out.
39:21
So, what I'm gonna do is, I'm going to put the screenshots in, telegram, OK, and ask you to look at them, because aye.
39:31
I can't figure out what I'm doing wrong. It's gotta be something stupid.
39:35
I wouldn't say so, OK. Please let me see. I always learn something example. Send it over. And the other thing is, we're not self defeating, chasing our tail, Sometimes if you're dealing with a credit union or a state chartered bank, you're going to have these problems, no matter what you do. But you said Chase, so I don't chase. Right? Yeah. Everybody's just so good.
39:53
Yeah. Well, maybe that is the policy.
39:56
Yeah. Well, one individual told me, we don't do LLCs online anymore. That you have to get it domesticated in Oklahoma. Maybe the Creature's figured out what we're doing.
40:09
Yeah. I mean, I'm going to go to Oklahoma to domesticated. I don't know. What to do that.
40:15
I don't know.
40:16
I don't know. All right. So I'll I'll put those things up on Telegram tonight.
40:21
And you can look at them when you get a chance to show up, like, want to better know miniseries. Yep.
40:30
I'm very curious now.
40:31
All right, I'll look for it.
40:33
Thank you. Nicer thing. All right.
40:35
Alina.
40:38
John J, This is Jo minter's Husband. I just wanted to actually just give you a little feedback on that conversation.
40:46
You were just having a chase Chase sucks We couldn't get our our accounts open with Chase.
40:54
We went on to Cabbage and they were open in like a day. Cabbage. Never heard and I think it was actually in your it wasn't your your documentation there, huh? OK, forget about the next it's like a branch of Amex.
41:10
OK, but anyway, I hope that I hope that maybe Chase changed his policies and we have to shop around a little bit.
41:18
Yeah, I think a lot stricter for online, you know, they want you to come in the office and sometimes if it's in a different state Because we're all suspect and money laundering of course. Yeah. So, we have to be on video. That's what they want.
41:34
Anyway, I want you to walk and so thanks for telling me that. Somebody else had a problem with the Chase. Huh, OK? The same. Dumb one, right? No, no, no, it's not like that.
41:48
Now Chase was horrible.
41:51
John, Jay, with, um, you know, back in 20 20, we actually bought a bunch of land and wood No got the fruit trees and the greenhouse.
42:03
You're right, You actually have an awesome farm down by you in Orlando. Anyway, that's the one we use. But there is one farm to close by here.
42:11
Yeah, Yeah, yeah.
42:13
Anyway, I wanted to ask you that, you know, I know, you know, you're, you're constantly problem solving. And, you know, I have difficulty sharing my head off to in these terms.
42:23
But, you know, when it comes to, know, what everything that we're seeing with the, honestly, I would say in the country, but it's really in the world.
42:33
You have anything like up your sleeve that is, saying, like, safe, zone two, you, just as like a secondary emergency area, that, OK, outside of the country, the only thing that comes to mind to me, is like, potentially, like, Brazil, I know it's roped up in brick.
42:58
So it's probably, even though, you know, I know that the cities, I don't want the greatest, but there are some principles that I've, I thought of and I just file and it seems to be, they're still true and they'd been that way for about 10 years. I've been looking at this.
43:14
So, so one of the principles is, there's a guy in Brazil that wants to live in your place, so I'm just thinking, why do I need to go somewhere else. Maybe I do if I'm in New York City, or are or Orange County, California.
43:29
But generally, being away from people is probably a good idea. Like not in the suburbs and not in the city, but definitely not in the city.
43:37
Now, I know that there's awareness of just outside the suburbs, close to the rural areas, as a target, let's call it, say the Creature's, pushing this whole agenda, want to want to corral us into like crowded areas, you know, cities and things like that. So, now, you want to get in an area that could be self-sufficient.
43:55
Like, if you have all this Land, know, that would be a good, a good thing to bug out, too, Right?
44:01
But I'm not sure that I don't know, I mean, I don't know that you need to run somewhere.
44:09
Yes. I thought you're asking me. But just just think that someone else probably wants to go where you want to, Where you are now. So, maybe where you are now might be a good thing.
44:17
If you just like, for me, OK, so I'm willing to suburbs, I have a small, like an 800 square foot house, and we actually have, we converted the garage into literally, it looks like a grocery store. We actually have like shelves of food. And we even have it in our house. It looks horrible.
44:35
I have wall to wall Shelves of stored fruit and beef and toilet paper, you know, but I don't care.
44:44
Yeah, you know, so, so I mean that's how I'm adapting.
44:47
I don't know if that's a good thing because maybe that might make me a target, right? The reason part of the reason why I have more than I need is I think maybe I can negotiate my way out of any confrontations if I invite people to share instead of fighting with people you know. So that's my thinking. I also started opening up dialogs with my neighbors, which for years I hadn't done and I just started, you know now we now we share food and you know, have a laugh over the fence and stuff like that. We help each other.
45:12
My neighbor next door, or runs over to my neighbor on the other side and help them fixes, AC unit so that, those are things that I would, I would stick with us principles and you should store food and not go crazy with it. You know, not freak out, you don't need to have all kinds of gold and silver and all this stuff.
45:28
Just know that there's going to be a trend where, you're, probably cache, will become illegal pretty soon, and you won't be able to buy or sell anything, unless you're using a QR code on your phone. It's might be a trend. The land I bought is near the Gulf of Mexico, and it's with an airport and a Marina. So I can have access to South America if I want to go. I can also fly across the Gulf, you know. So there's, there's access there. So maybe you want to keep that in mind.
45:56
I don't know that I need to run away. I hope. I don't know.
46:01
I guess, the only, the only thing that was kinda coming to mind is, you know, alternative investment, you know, and, you know, international investment, potentially in a place that hey, look, maybe I can benefit from having a place there, too, I agree with that.
46:14
Yeah, And I would work with other people.
46:17
I mean, what are you talking about like a farm housing development much housing development of a farm or a or no mountain home or something something along those lines, It's like anytime Other in history. I mean, really? investments our investments? So, what's going on? What's going to be in demand? I think, right now, what's in demand?
46:40
I mean, I'm looking at putting some money into this is small homes.
46:44
I hate to say tiny homes. It's so trendy. You know that the small homes like a thousand square foot or something, 500 square feet, that are actually on skids that you can actually move around. And, and that would be a place where you can test market some things very cheaply.
46:58
You could test market some, you know, a particular type of abuse of that Location. So, one way to do it as see what it's already going on, Like, for example, if you want to, if you have landed in an area, look around and see if anybody has bed, bed, and breakfast type deals, or, you know, maybe there's lots of college kids or something.
47:16
And so, the use of that land may be for the small type home, and that may be the future, I mean, people may be more willing to do that.
47:25
So, I don't know, I mean, but it's, I don't know, it's like anything else, but like I said, don't go to the top at the beginning of the supply chain, in my, in my idea, is I have to, to renewable energy projects.
47:40
one is I'm having someone help me with a, um, a plasma reactor that runs on liquid fuel. And then also, the wood.
47:48
And so wood is biomass. And that is renewable, and that requires a forestry management plan and a consultant, and I worked with the lumber Mills and things like that.
47:58
So basically, that becomes my supply, and I'm a supplier to everybody who's going to produce something, and I can get money from it and to fund the project more.
48:09
So I can get further into renewables by starting out with land and timber.
48:15
If that appeals to anyone at the same time, I can develop that property and I can produce things that you know like greenhouses and have someone run those greenhouses just like you would lease outland to a farmer, maybe it's a small community that would want to use something like that. Yeah. Like like you did, like plant fruit trees, so I really don't know.
48:31
I mean what, I mean, what else I mean if you don't know what to do with cash, buy Gold, right. Temporarily. So try to find something that to produce income.
48:41
There's always going to be a demand for residential and what does the trend?
48:46
I mean maybe the trend is smaller units, more efficient units that people can afford and maybe they're OK with living, you know, in like multi-family type deals.
48:57
Jonathan was doing something that kinda came up on our radar, so we're outside of Boston.
49:04
On the way to Houston and, and they're developing this corridor tremendously.
49:11
Mercury land is flying like, I mean you, you, any price that you think is outrageous, it's going for double that. You know, the land is going absolutely bonkers so anyway.
49:26
That's something that we're that we're looking at because there's these communities that, I mean, as you might know, you know, Texas just exploded in terms of monopolies. Yeah.
49:37
And obviously, you know, Austin is just, you know, to get all those big city problems that you know might imagine or New York and LA. Are facing and a bunch of other cities driven kind of the natives, outward.
49:52
And even people moving in, like what we did from out of state, you know, out into the suburb and country areas where there's a little bit more ease, and you have a little bit more, uh, privacy. And, yeah, and so on.
50:07
But anyway, there's, there's huge communities out here and there are very few businesses that can really hold a candle to the businesses that are, you know, that exist in in some of these other more popular seas.
50:24
The businesses out here are just, know, there the week, you know, there's there, like, what market are you talking about?
50:32
And, just specifically in the food market, I mean, there is there isn't, There is nothing.
50:38
I mean, you see you got change after change after chains and That's really all you have access to.
50:44
There's maybe 30 different chain restaurants and you know, they had lines out the door, But um, you know, the one, you know, mom and pop shop, style restaurant, is completely slammed.
51:00
So why does this, why is this on your radar, the restaurant?
51:03
one, you don't have a background in other background.
51:09
And food Can, I'm just, I'm seeing Commercial Land. Blow up. I'm kind of I'm kind of seeing this all happen and it's not like a little it's not like slivers of land. Like, I'm just, like, you know, in New York, it's been big plots, it's, you know, an acre two acres for sale.
51:29
For X number of dollars you can, you know, develop a It's zoned commercial, right? It's zoned commercial.
51:35
You could develop a building that as, you know, 5, 10, and it's, but it's selling, like there's a demand for it.
51:42
It's selling like, freakin' crazy, so Boston to Texas.
51:46
What? You said, Boston to Texas. No. Houston. Houston. OK, content aware.
51:52
Houston to Austin. OK, Houston, Austin, OK, I didn't know that.
51:55
All right, So that's all right, Well, why don't you go and if you're, if you have knowledge base there, why don't you go get one on an option and sell it.
52:05
Just get some of his selling that fast. Why not? just go buy something on an options contract and sell it?
52:11
If it's not, if it's flipping like that, that makes them quick dollars out of it, right?
52:16
That's my first thought. We're thinking of opening up like a organically, cafe, restaurant style, just because everything is so just horrible out here, as far as, like, foods. You know, go, but, like you were saying. The farming industry is kind of declining, so it's, it's kinda, it says it's a tricky, but that's very risky's restaurants. Retail food distribution, OK? So, yeah, to lower your risk, correct me, if you think, I'm wrong on this because you have more experience, and I apparently, I would think, buying the supplier of the restaurants would be better like, the restaurant supply company, like Web strat, right?
52:53
Those types of, like, what do you call distributors, food distributors, or whatever they sell to restaurants.
53:00
Maybe that, because that way, you're not on the front end, dealing with the actual, on the street market, and it's volatile.
53:06
If you're just supplying to everybody, then that's probably more stable. You're right, you're right, I guess, I guess we headed originally chalked up to to kinda like supply its own food, OK. I mean, I'm I would, I would go to that to the next level. Yeah. And so, sure, I think it's just like anything else, I look around and I see them shutting down. I see restaurants come up, and they're gone in three months. three mm, and I'm sure you do, too. And so, I'm thinking, I know, I could do a better job in that. I don't have time for that. I just think I could do a better job, and no, I'm not a restaurant person. I just think that I can figure it out. I don't know, Maybe I'm stupid, but I think I can figure it out, So this is what you do. You figure out a better way to do what they're doing, and, yeah, if you can produce your own supply.
53:50
Yeah, or outsource it to somebody who's doing that, that's a, you know, a local community mm. I think that is actually, in fact, I think that's the future, I think we're going to have to fess up and start doing the right thing.
54:02
I think we're gonna have to grow food and eat it, where, where it grew. Yeah. Yeah. Be their first day. It's not happening yet. I don't think it's a trend. I don't think they figured this stuff out yet.
54:14
But judging by what I'm seeing, they haven't figured it out yet.
54:18
Awesome, thank you to get to talk more about this. It's really interesting. I'll just share with you back. Go way, way back. I'd like to say it's probably the late nineties, early 2000 somewhere in there.
54:28
I'll just talk us through truckers, and they were telling me that they witnessed I've heard stories like this over the years. They witnessed cases of frozen chickens. They were they were trucking frozen chickens. They would bring them to a port in Texas somewhere, and they would put them on a boat. And the boat would ship them out, and they said the boat would go out to the Gulf of Mexico. And then it would come back with the same chickens, and they would track them to another destination. And then they would get them and check them again. And it was the same, **** chickens.
55:00
And what did they did they say that there was any particular point in that it?
55:04
Did they have to get them off, off shore so they could, maybe, I don't know. I couldn't explain that, other than tell you, literally what I was told, and the one gentleman who has explained on this, he said, The reason why I noticed is because we could see the chickens like, we were curious because the, you know, the numbering and everything was the same and we were looking, we looked in there and there were green.
55:23
They were like moldy or whatever they weren't able to be sold. But somebody must be making money and I think they use the trucking supply system across the states as a replacement for bonded warehouses.
55:38
I think that's what's going on, and that sets us up for big-time failure. The same with exporting our, you know, importing products, sets us up, exposes to a huge risk, the huge the whole population. So, and also, Shipping Tomatoes and oranges from Florida to California, and then, doing the same from California to Florida. It's ridiculous. Millimeter.
56:00
So somebody's doing some funny business and like I've seen in the last 10 years, churches go up like they were sandcastles at the beach, churches, and nobody goes there. I mean, not even on Sunday, they're just big, beautiful buildings and I'm thinking, OK, somebody's laundering money. Yup.
56:18
Yeah, Exactly.
56:21
Exactly.
56:24
I see your notes over here. Did I miss anybody? I just now sometimes. I forget about the chat, but it looks like we covered everything that you guys have in the chat.
56:31
Let me know if I didn't, Elaine has something else here. Yeah. I'm still stuck on this registered, and he was kind enough to answer me and say that every LZ has to have a registered agent, but it's still talking in the Readme first about getting one.
56:49
So when would you want to do that?
56:52
And OK, You can only get a registered agent for a company that's registered in the state where the agent has a physical location, a professional registered agent will only do that.
57:03
So, what I normally do for a client is, if my clients in New York and I do a New Mexico LLC, I will use my client's name with an address in New Mexico where the company is being registered.
57:15
Right? And that's perfectly legal.
57:16
And then you can apply for a bank account, wherever, and that works.
57:22
That's what the registered agent has to be, where the company has registered.
57:26
There has to be a physical location. Can't be a mailbox. OK, so if I had an in Mexico LLC, the registered agent has to be in New Mexico, right, and you can get a just a regular commercial address and use your name as the agent, if you want to. If you care, I mean, some people don't care about paying 100 bucks a year, 150 a year To have a professional agent, for most of us, Like if we're just to encrypted investing, This is not worth it. It doesn't know, it's not necessary. But if you're running a business, really, if you're running a business or clients come in, it's a brick and mortar, I always tell you to register the company where your business operates and get an agent for that state.
57:58
That makes sense, but if you're just doing crypto investing or managing cash flow, it doesn't matter, OK.
58:04
You understand, we're saying the agent is a statutory agent. That's another way they call it statutory agent. That means the law says, if in order for the state, to give you indemnification through this corporate charter, you have to get an agent professional service that will accept service of process if the company is sued. And that has to, that requires a physical address, not a mailbox.
58:26
It could be someone's home or an office, or something like that, OK, so it could be me at my home address. It can certainly be that, right?
58:33
Just keep in mind that that address has to be in the state where the companies registered.
58:40
Oh, wow.
58:43
Levitation, right? That's what they're doing. They're saying, oh, well, we don't see an Oklahoma registered agent.
58:49
Yes, I know, because it's not Richard. Oklahoma, they want you to domesticate it there because that's what they do. They create risk, and it's not a problem.
58:58
I just don't like to do what they tell me, right?
59:01
Because, there's no need for that.
59:03
But they, they want us to and I would tell you to do that anyways. If you had a brick and mortar but for what we're doing.
59:09
I would just go to a bank like you're saying cabbage.
59:12
That's not going to make it a problem, OK.
59:14
No, so, Leena didn't get a registered agent.
59:19
Well, if I register a company or you guys raise your company, you're not gonna get arrested without naming an agent and it will be it will have to be at an address in that state. Otherwise, the state won't approve the registration.
59:30
So if you, if your charter is approved: You know you did it, right, OK? Well. You did it for me, so. Yeah, of course. So that that, I'm having problems. Yeah. The only, the only thing is when you go to the bank, you know, somebody at the bank, might be halfway smart, and they might say, hey, you have to do this thing. Lots of times they just, they just open the account, and it's all illegal to do it that way.
59:50
But like if you walk in the bank, they're definitely gonna say domesticated because of where you're located.
59:56
So, the only way to do it, like what you're talking about is, if it's registered in Wyoming, you're in, in the, like then, in the nineties.
1:00:05
You would have to walk into the bank in Wyoming, to get your account open. But since like 2009 or so, we've been able to do it over the internet, because the banks kinda caught up with the Internet.
1:00:14
And they were letting us do it, and they weren't even asking for what we call it stamped, embossed sealed documents. They're just accepting a virtual image of the documents.
1:00:27
Right.
1:00:27
So, but you still have to have that physical location for the agent.
1:00:32
OK, well, so I am not going to bother with that.
1:00:35
OK. Yeah, I mean, it should be good at it, But I gotta try this canvas thing. Because this is, I'm just, yeah, you got to shop around. Yeah. Don't don't keep hitting your head against the wall. If you gotta hit your head against ball three times as good enough, and then move on, right? Yeah, because every time, no matter how I answer the questions, it says we cannot open this type of account. We've been through, in 30 years. I've been through, so many iterations, but the bank. That's why, I mean, every time I run into a situation like ice pivotal, walk in the bank and kinda negotiate my way into an account with no SSN.
1:01:07
N one ID, OK, that was in the nineties, then it got to be where I couldn't, it was impossible.
1:01:12
And so, then I said, OK, fine, I'm gonna, I'm gonna have to reverse engineer what they're doing and that's when I figured out how I can create a credit file with no SSN and then open my account with no SSN. My way.
1:01:24
I just had to figure out that.
1:01:25
And once I did that, then I realized, OK, now we've got the backup withholding issue. OK, somebody using an LLC now.
1:01:31
And that's why I talk this way because I've solved problems over the years and every time I saw, but it just becomes a different way to deal with it, but I'm still getting the same results. I'm still getting what I want. I'm still keeping the power to manage risks the way I want.
1:01:43
Even though they're trying to get up my stuff.
1:01:45
I'm still so far, I'm able to get around it.
1:01:48
That's why they want to bring in this blockchain system because a lot of us figure this stuff out, and they know it.
1:01:53
In the blockchain, if you don't understand how it's working, you're just a sitting duck, I mean, they're gonna, they're gonna, you're not going to have anything.
1:02:02
So, even even if you are not talking about?
1:02:08
Talking about the central bank, I forget that, I'm talking about Blockchain, which is an open-source ledger, where it, it makes it to where you, if you don't have privacy now, when blockchain becomes the norm, forget privacy. There's no such thing anymore, and privacy, in my opinion, is your money.
1:02:28
And the more privacy you have, the more money you have, the more, the more value there is, less privacy, less money, I equate it to money.
1:02:40
You should be able to, you should be able to have total privacy with your money. But the system, you know, doesn't let you do that and they, they force us to use their conduit, the forces to use them as the gatekeepers. And that's, so there's a double, double edged sword with blockchain. So if we understand blockchain, yeah, we can still use it, but then our, our community is very small because it's just the geeks, right? The geeks understand blockchain, and they can talk to each other, and they can spend money back and forth. All the people that, you know, write this stuff, can do it. You and, I mean, I don't write this stuff. I just use what I'm I can find.
1:03:11
Like, the best I can do right now, is Monero in the dark web.
1:03:14
If I really wanted privacy, you know, I could use the dark web.
1:03:17
So, this is what's going to happen.
1:03:20
The Blockchain is used to destroy privacy, and, and what you're seeing right now is a consolidation of wealth and resources, as I'm speaking to the choir, I know you guys know this, So in the end, this step, this is a steppingstone, right? Economic disaster, environmental disaster, or they portray it that way in the news, and you'll agree to anything them, because life is so difficult. And it wouldn't be so much nicer if you'll just sign right here, because everything is on the blockchain that Ellen, either way, make sure that you have that correct updated QR code on your phone, because you won't be able to get groceries next week.
1:03:51
Because if you have cash, then you're suspect.
1:03:56
So, that, I don't know if it's coming tomorrow, but it's on its way.
1:04:01
I mean, I can't wait. I can't even use $50 bills here.
1:04:04
Yes. All right. Yeah, 400 forget hundred dollar bills, they won't even take a 50 if the price is $50.
1:04:12
I mean, I remember when I was a cashier, we would just slide under the tail, right?
1:04:16
They don't even do that because they want to frustrate you.
1:04:21
Well, I looked that up and it's not. I mean, I hate it. It's a nuisance, but it's legal.
1:04:26
Because here's what happens. They create the case law that makes it illegal. So, the judges say, Oh, it looks good. Oh, and by the way, if you want to come in with 10 roles, a quarters, the cashier has the right to refuse that because it's inconvenient.
1:04:38
So, says, the district court judge. So, they have the case, law that makes it legal. That's what they do.
1:04:44
They create their own societies so that they can they can funnel everybody into the system. And so you get frustrating to go, I'm just gonna use a credit card, and they go, Yeah, that's what he wanted you to do in the first place. John, what do you think? Sorry, Lane, that What do you think happened with the cells? Is that when you probably know about it? Who which one Celsius?
1:05:04
Yeah, OK. So it went bankrupt. When did a follow-up petition?
1:05:08
When did they go bankrupt?
1:05:12
That was like very recently. Yeah. Like, Oh, you're right.
1:05:18
I don't know about Voyager.
1:05:19
Voyageur filed bankruptcy petition back in June, I think, or July.
1:05:24
Africa it was around that time. Yeah, so I remember that, OK, so, so it's not that they went bankrupt. They were probably already bankrupt. OK, and I did all they did was apply for receivership protection. So the receiver is the US bankruptcy trustee. And so they list all the creditors and you have time periods. You have got like a nine month period where everybody submits claims and Celsius has to file a re-organization plan with the trustee, and the trustee has to approve it. So what I suggested, I did a couple of videos on this on Voyager where you go and get, you go to the US District Court in the bankruptcy Court where the petition is filed. You can go read it. It's public record, and you can file a claim.
1:06:02
It's called a Proof of Claim on Form 4 10 mm hmm hmm. All right. So if you have an account there, That's where so many dollars.
1:06:09
At the moment, they file bankruptcy, whatever that was, you can reverse engineer what the dollar amount was, the dollar value. You want to make a claim for it. Now, it doesn't matter if the value has been changing once in awhile it's just it's the day they filed as the value of the your account and then you file a claim against them for the money. And what happens is that trustee puts it in order, so there's groups of creditor. So the account holders are a class of creditors, and then you have other creditors, like maybe they're their suppliers rider or whatever deals they have going on. Maybe their loan, whatever the loans are, and all that.
1:06:41
So the trustee puts everybody in order, and at some point, there's going to be a payout.
1:06:46
I'm not saying you're gonna get all your money, but you can make a claim A proof of claim, at least do that, much, so that way you're gonna get noticed every time something happens in the court. And is there a specific document for proof of claim, or Yes, it's form number, is form number 4, 1 0, it's called a Proof of Claim form, and it would be like, if they filed in California, You would you would find out, like, what city or county, and you would find out the district where it was filed.
1:07:12
In fact, if you just Google that, it will probably tell you where it filed and you get the Clerks Address, and you go to the US. District Court, the US. District, bankruptcy court. And each bankruptcy court is going to have the identical form. But you don't want you want to file it with the clerk where they filed a petition, OK.
1:07:28
You download the 4, 10, it takes like five minutes to fill this out, and you go, Here's the spreadsheet.
1:07:33
You just go and fill out, you know, how much value, fill out all the questions, and then you submitted, however, says, to submit it, probably by a PDF or mail or whatever, and then you, you, get yourself in that group. Now. If you don't do that form, you're still going to be a creditor.
1:07:46
But if it were me, and if it was a lot of money, I would want to be on the radar Hey, everybody. Remember me? You know, here's my four. I'm not gonna wait and hope they contact me. I'm gonna find my 4 10 now.
1:08:00
That's what I would do, so. So it's not like they went bankrupt. They were bankrupt before they filed a petition. All they want to its protection. Yeah. We're also too good to be true. Oh, there you go, see him, that's happened, the Voyager two, you know, so. So people made money and hopefully they get out quick and then the music stopped and then whoever was left, you know. So the bankruptcy is going to unwind over period of: maybe it's going to be three years, maybe it could be a year and a half. Maybe it's nine months minimum, but it's probably gonna be upwards of close to two years. The bankruptcy will unwind to a point where it gets settled out. That's the whole point.
1:08:33
Now they could they could come out of bankruptcy and be re-instated and continue on in business. It depends.
1:08:40
I Don't know what the terms are mm, So that's that's the only thing. I'd recommend is failure for 10 proof of claim.
1:08:49
OK, Thank you.
1:08:51
All right.
1:08:54
Well, Thanks. So it was a good questions. Good subject matter I you know I appreciate you asking those questions. I mean, I I don't think I know more than anybody, but I do look at things in terms of how it could benefit from what's going on I mean, I don't like ever exploit people. But I do want to find opportunities, and I do like to do things. I'm more of a social entrepreneur entrepreneur. So what I want to find are, like opportunities where I could work with people that wouldn't otherwise be involved in a project, and it would help their situation. And it's fun to create relationships and also make money at it, and that help people. And then set an example for other people. And so that's how I look at things.
1:09:30
So if I'm going to do a project like the the Wood, know, the forestry that, I want to make an example, because it's a business model. And I want to export that idea for whoever wants it. I'll help anybody who wants to do something like that.
1:09:42
So that's my idea.
1:09:47
All right, well, thanks, everybody, I'm going to cut it off now alright, thank you for your telegram. OK, thank you, Galvanize Weekend.