What currency did Superman use?

ABOUT THIS EPISODE

Superman didn't use crypto-currency so should you? Financial expert, John Browning, gives some insights into this new world of commerse. This is a fascinating conversation that will enlighten you. Learn more when you Connect with John by texting "LIFE" to 21000 or GuardianRockWealth.com.

Welcome to the build your life podcast with John Browning. Build your life as a relaxed and unedited conversation with financial expert in number one Amazon bestselling author, John Browning Jones, the founder of Guardian Rock Wealth and serves clients across the United States. John's the author of the book build a life, not a portfolio, a guide to your financial future based on your personal values, which you can purchase on Amazon, or stay around to the end of today's show and I'll tell you how to get a free copy milled right to your door. I'm Michael The lawn, your host for the next few minutes as we chat with financial expert and business owner John Brownie. Well, hello, John Browning, welcome to another great episode of Your podcast. I am glad to be here. Glad you're here. Yep, thank you. Thanks. Our things going with you. You know, things are great. They're on the up and up and they was find I took a walk the other day, John, and you'll probably appreciate this because we're about the same age. I...

...was walking on the block. I looked up a blue skies right and and I saw a big jet go through, go past. It had the white line behind you right and just made me think back to my childhood. As I was watching it was like look up in the sky, it's a bird, it's a plane, know, it's burn right, and it just got me to thinking that the the world we're living in right now. I think about Superman a lot because I don't know if you know this, John, you probably because you're in the financial world, but we have a new when there's a new currency around that I think came from Crypton, where Superman came from, because it now because his weakness was Kryptonite, right. But some friends of mine are talking all about this super, super new way to exchange money or something's called Krypton, Cryptonite, crypt I don't know. What is it called that? I don't know what it is. I think you might be talking about crypto currency, a little bit different than Kryptonite, and it's not what superman used to buy stuff. No, it is is, no,...

...not that, and you know that. You know that stuff made him sick and that that can happen with people today that are very excited about this cryptocurrency. If you in the stores speculate in too much of it, they can make you sick and make retirement sick and we can your financial position. I love it. Okay, so tell me about because I've got dude, I've got I hear it every week, somebody talking about crypto this, crypto that, and I'm like, I don't even know what it is. Yeah, so do tell what. What do we need to know about? Well, for one thing, you're not alone. Okay, when that's good. When people were surveyed, I believe it was thinking of America breaking. America does a ton of surveys, but they surveyed a very large group of people, like thousands, and it came back that about eighty five percent of these people, and many of them like a huge percentage, like like well over...

...fifty percent, had invested or own some cryptocurrency. But eighty five percent of the respondents could not accurately fill, you know, fill in the right multiple choice answer as to what cryptocurrency actually was. Wow, and and I do find that a lot because I get the question literally every day from somewhere or somebody when they find out what I do, or even some clients that are calling me Haitian. I can invested in cryptocurrency. I'm not, by the way, telling people that cryptocurrency is no good and that it'll never work, because it will. I actually I am a firm believer that cryptocurrencies here to stay. Okay, people are often refer to certain cryptocurrencies, particularly Bitcoin, which is only one of a lot of different cryptocurrencies, and they refer to that as being a gold replacement, so a store of value that will be...

...similar to if I went out I bought some gold coins or gold bars and put it in a safe in my house, and that I'm not in nearly as much agreement with. And the reason for that, especially if you're one of my data guys that's listening to this now. If you just look at the charts, you'll see that it is not very stable and it has a very high correlation into high growth stock market, like not even the SMP five hundred, but high growth stocks. Okay, so that would not be the same as gold, which typically has a much lower correlation with the stock market. Right, in other words, what you would do if you're thinking about risk management, you want to lower your risk that you have in your investment portfolio. Some people might want to buy gold because it tends to be more stable right over time, as an inflation heads or something like that. And...

...so while you're while your stock portfolios doing this, your gold portfolios steady, Eddy, randy guy. That's the idea. Doesn't always happen that way, by the way, but that's that's the idea. CRYPTOCURRENCY does not hold its value like that. It has moved from fifty some thousand dollars per one Bitcoin, and I'm referring to Bitcoin. That is not the only coin, okay, currency out there, okay, but it is. It is gone from Fiftyzero down to Thirtyzero. you think about that personage loss, and recently it went from, you know, in the s to the s right. So, I mean that's a pretty and it does this within a matter of days. Huh. It'll move like this. So, unless you have a stomach of cast iron, I would not consider this a, you know, a solid store of value. Now it may be a perfectly fine way to speculate...

...and possibly make some great money at some point, because I do think it's going to be around and would be used. Yeah, but it's should only be a portion of your portfolio, for sure. Yeah, and that's that's a good point, because there's an element of greed in here, I think, because it's new it's unknown, but that's that's kind of what I here is like, Oh wow, my stuff up this many percent or I just made a blah, blah, blah, and it's like okay, but it feels to me, and I'm very conservative in my investing right it feels to me like gambling right now. And maybe not quite gambling if you play to own it for at least ten years, yeah, or more. Yeah, but certainly if you are gonna potentially need this money anytime in the next year, two years. Well, and and I sat with a financial advisor years and years ago at a rotary table. Right we're in roder together and he drew out to Vegas and gamble and people are saying, well, well,...

...you're a financial advisor. He's like, but it's not gambling for me because he understood poker well enough and he was smart enough. He could, I don't know that he could count cards, but he understood the game and he's like, I've got a limited amount of money that I'm going in with, but I understand the game that it's not gambling like you think gambling is, and I think that's probably the same thing here with cryptocurrency. There are probably a few people really understand it. are in it from the long haul and all that, but, like you said, eighty percent of the people who own it don't know what it is. So I I want to do we made do a whole show around all these you know, Bitcoin, I mean that's the most popular, it seems like, at least name recognition. It's the oldest and it's the largest. It's the oldest. Songs have been around two years. I have to look that up, but yeah, it's been around. It's been around for a little for a good, a little bit. Find it a good little bit. Did you get that pond out like a dead joke? I good, a little bit. That's that's another issue,...

...though, right, because some might say that Bitcoin is old technology. Now, wow, that's as is it? So I don't think so. I think they've coin of be around, but then there's a theorium, there's card. No, there's those coin, there's there's also, I mean there's there's hundreds of these little coins and different things. By the way, this is another thing people don't understand, like bitcoin and the theory of two very different things. All right, really. So then there's okay, then there's what they call in FT's which her non fungible tokens right bend, and Bitcoin doesn't work as well for non fungible tokens a theorium does, and then there's Cardinal. It gets very confusing. And if you're just throwing money at this because it's on the news, that's what I call speculation. And Yeah, I gambling. Yeah, so I'm going to call this the new world of...

...commerce, right, because it had one level. It is and I think I'm with you, John. I think these these things in some former fashion are going to be around. It's going to be different. It's kind of like when paypal first hit the scene, years and years and years ago, right, it was like I can do what and it took me a while to figure out paypal. Well, now you got paypal and Vin Monzel and you know, a dozen or more of these things and we're like, oh, yeah, just use that cash APP. I can send cash to your cell phone. How's that work? Right now it's almost a nonsecutor. Well, now you've got this new commerce world with cryptocurrencies and things and, like you said, they're not all the same as like wow, our kids are probably just going to do it, speak it like it's normal, but it's just it's new and it is different. So one of the reason they should mentioned to Michael is that this has not been regulated really yet. Okay,...

...don't really know how they're going to tax it. The regulators, shockingly, are weight behind the curve, and I say Shockingly Etonian cheeks for yeah, but what happened? It's when somebody gets something through the mess that we call Washington DC and decides to tax it at a higher rate. I'm just throwing things out there, and suddenly your Bitcoin, a theory of those coin card know, whatever it is, goes from this price, but now, since it's got getting taxted twenty percent. Does this overnight. And this is is not an unlike. By the way, something like gold. Are you gold is should be if you're doing it right, is tax differently. If you own physical golden and you sell it, it stacks differently than if you were to buy a stock, held it and it there's different time. I'm not...

...a tax advisor, by the way, but those are things people don't tend to think about. Wow, there's so much. There are so much my brain is fried right now. So we're gonna have to be done, because I can't think. I'm really intrigued about this new the new world of commerce and what we're going to have to come back to this at another time because you just you opened up a bunch of different things that I don't understand and I think are just fascinating to talk about at some level, because it does play into how do we plan, how do we use the money's that we have in the best possible way to build a life, not just a portfolio, and you've talked many times on this podcast that you kind of set up your investments and if you've got some play money, some fungible money, well, let's talk about this new world of commerce with bitcoins and the other ones that you talked about. But it needs to be done in the right context, right and that's why people need to have conversations with with you at Guardian...

...rock wealth and just talk about all this because obviously you're you, you understand it at a decent level, way more than I do. Yeah, and I'm no expert on crypto currency. There are people idious. Yeah, yeah, well, there are people that are. That's what they do and yeah, I do talk to some of those folks. Yeah, so it's good to have resources like John, because it's just yeah, it's a new world order. Like last time we talked about you know how the banks. You know, if you put money in the bank, you're probably losing money because of inflation, and thanksful. That's a backwards way of thinking. Well, cryptocurrencies kind of a backwards way of thinking. Well, if it's going to be around, we need to understand it, or at least have somebody in our corner who can help us understand and that's where you come in, John. So let me encourage people to reach out to you, John at Guardian Rock wealthcom. Or they can take their cell phone and text the Word Life, Alife to twenty one thousand and they'll get like an electronic business card, a videoed opportunity, get your book, all kinds of fun things there's. So text life to twenty one tho and connect with John Browning to have discussions...

...around how to build a life and not just a portfolio. So, John Brown I think this has been really, really interesting and I think like like Clark Kenton Superman, we're going to have to fly away now and go go say something else, but thanks for thanks for another great episode. All right, will see you next week. Money really is a big part of our lives, and John Browning can help you and your family learn how to keep money in the proper perspective. It's important, but it's only a tool that can help you build the life that you want. If you like John Emil, you a free copy of his book build a life, not a portfolio. Go to John's website, Guardian Rock wealthcom, and click the contact to US link and send your request. John Will Mell a copy of his book right to your door absolutely free. Thanks for listening to building your life podcast with John Browning. Be Sure to subscribe to this podcast so each new episode will be sent to you automagically when it's released. Have a terrific day.

Nothing in this podcast should be construed as personal investment advice and past performance is no guarantee of future results. Investing is not appropriate for everyone. There is a risk of loss associated with investing in the markets. No representation or implication is being made that using any methodology or system will generate profits or insure freedom from losses. Please remember that investing carries risk. Guardian Rock Wealth LLC and it's affiliates are fiduciary investment advisors. Please consult with US or another experienced qualified investment advisor before making any investment decisions and or trying to implement any of the strategies and tactics we may discuss in any of our publications or podcasts.

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