"An Economic Hurricane Is Coming" - Recession, Money, Power, Chaos & WW3 | Patrick Bet David
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- čas přidán 2. 11. 2023
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This episode is sponsored by NetSuite! You can download NetSuite’s popular KPI Checklist, designed to give you consistently excellent performance - absolutely free, at bit.ly/ImpactNetsuite.
In this episode we discuss the FTX Collapse & Upcoming Market Crash. Entrepreneurs Tom Bilyeu and Patrick Bet David go deep on the current economic landscape.
Welcome to another ground-breaking episode of Impact Theory. I'm excited to have the hard conversations that will potentially help you shape the life you want for yourself and your family.
In this episode, we dive straight into the recent FTX verdict that is sending major ripples though the financial world with the announcement of a potential 100+ year sentence on the horizon.
Patrick Bet-David, founder, creator mentor and highly successful serial entrepreneur joins me to explore the concept that only the paranoid survive. This isn't about living in fear, but rather about being alert, aware, and ready for any curveball life might throw our way. It's about realizing that paranoia can be a powerful tool in taking precautionary measures to safeguard your future.
The FTX case is a stark reminder of the importance of vigilance and the critical need to stay informed.
We've all had our fair share of missed opportunities, times when we wished we'd paid closer attention or taken a different path. But it's not just about regret; it's about learning to optimize for options.
Our exclusive conversation features insights from Patrick Bet-David, who warns, “If you’re going to spend more time on Netflix, more time watching all these shows, [...] if you’re going to spend more time on that than building value for yourself, learning new skill sets, yes the market’s not going to favor you the next 18 to 36 months.”
This episode is not just about facing the hard truths, but also about developing resilience and adaptability. It's about equipping you with the tools and mindset necessary to navigate the turbulent waters ahead. So buckle up for an enlightening journey into the realities of success and economic landscape.
To Pre-Order Patrick’s new book “Choose Your Enemies Wisely” click here - www.chooseyourenemieswisely.com
Chapter Markers:
[00:40] FTX Fraud Verdict
[17:17] Bigger Than A Recession
[41:38] Global Meltdown
[54:23] Only the Paranoid Survive
[1:08:35] The Falling Empire
[1:22:04] “Sell Me On America”
[1:41:07] A Stance For Values
Patrick Bet-David Quotes:
“Who in the hell in the first place trusted giving this guy this much money without a board?”
“The best news here is a certain level of accountability taking place.”
“Study closely who you’re in business with.”
“Ask more questions before you jump in with excitement cause other people are getting involved.”
“You’re going to see the first trillionaire in the next 24 months cause none of this is going to affect the guys at the top.”
“If there’s anybody that should be against printing money, it’s low and middle income families, [...] the poor and middle America can’t keep money, they spend it, and when they spend it what do they buy, they buy a product owned by somebody in the S&P 500…[...] money flows up.”
“Middle America is getting smaller and smaller and smaller every single time we print money.”
“Right now you have to be looking at this sh*t’s out there. What part of it do I control? What part of it do I have no control over, [...] I have to figure out how to increase my market value or else I’m going to get crushed.”
“If you’re going to spend more time on Netflix more time watching all these shows, [...] if you’re going to spend more time on that than building value for yourself, learning new skill sets, yes the market’s not going to favor you the next 18 to 36 months.”
“Success is really a game of mixing optimism and paranoia, you’re going to need both.”
Follow Patrick Bet-David
Website: www.patrickbetdavid.com/
Twitter: / patrickbetdavid
Instagram: / patrickbetdavid
Follow Tom Bilyeu:
Website: impacttheoryuniversity.com/
Twitter: / tombilyeu
Instagram: / tombilyeu
What I don’t understand is, on one hand we are told the stock market will crash and yet on the other we are told ways of investing in the stock market. Oxymoron or paradox? I'm considering investing over 150k, but I'm uncertain about risk mitigation strategies.
Not a great April so far but if you step back and actually look you will see the S&P 500 was up for the first Quarter. In the last 30 days, my IRA saw a gain of $70k. You might also consider financial advisory looking at your capital
Just buy Gold and protect your assets, the stock market is a rollercoaster.
The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds.
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Jennifer Leigh Hickman” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I'm sick of this mundane conventional knowledge, guys. Head to Borlest and read the forbidden books, only then will you truly gain knowledge about money
What are you talking about dude? 😅
I recommend diversifying your investments by considering stocks alongside real estate. During a recession, there are potential buying opportunities in the stock market if approached cautiously. Additionally, market volatility can offer short-term buying and selling opportunities. However, please note that this is not financial advice. It's important to be proactive in investing as cash may not be the most advantageous option during these times.
You’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
She is Rachel Sarah Parrish. look her up
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I frequently contemplate whether those who navigated the 2008 market crash found it comparatively less challenging given the distressing conditions prevalent in today's markets. In just this November, my portfolio has suffered a substantial loss surpassing $27,000, sending my profits into a downward spiral. The disconcerting truth is that this tumultuous market environment is jeopardizing the prospects of a secure retirement. It is disheartening to observe my reserves stagnate without any indications of growth.
Even in this whirlwind, there are chances to be had, thus an increase in volatility is not always a bad thing. You have an opportunity to rebalance thanks to volatility. In order to help you diversify your portfolio, you must hire a financial counselor or broker.
Thank you for your advice, it's challenging to find a reliable investment advisor here. Seeing the success you have achieved through investing I would love to have access to your investment advisor.
Thanks for talking about your financial consultant. I will definitely look her up and get in touch with her
@@kelvin_benson You pushing this slw person, is it an act of faith, or personal interest for you.? Get off !
This is the best conversation on CZcams so far....I hope Patrick and Tom continue this dialog. This is how we heal.
Love that for us 😊 🇺🇸
Patrick is a real man and he understands what makes the world turn. He cuts through everything and clarifies.
Are you kidding me? He speaks in circles.
lol makes me think these are fake accounts that work for valuetainment
@@peterponcedeleon3368 Exactly, he knows but he won't tell the real story.
He is terrible
I love pat, but come on. The guys mother probably meant to move on and fix a problem instead of stay mad and blame people without solutions. We can fix this problem with regulation. If people hate it, fuck em. If society held itself accountable and did t fall for crap like this there’d be no need for regulation. And trump says similar shit: doesn’t need the Republican Party, ignores his foreign advisors etc. WTF does pat love him. Hell, I bet Sam knew trump would blow the election and his friends didn’t want the Republican Party to lose the election so they could get their tax cuts. Get fucked.
Just got my 4th payout. I can’t tell you how glad I am that I got into stocks after being introduced to it some months ago.
Hi Linus. I’m pretty new to the stock market and would love any pointers as to how you’re earning.
My colleagues had a good laugh at me when I told them I started my journey with five thousand dollar capital and how I accumulated over five figures within a span of seven months. They never believed me until I pulled out my P&L.
I know that learning the ins and outs of the market isn't for everyone, that's why personally, Jonas Herman oversees my investments.
Hermanw Jonas (a Gma!L comm
Is he taking commissions for his services? Yes, I’m I still making money in the process. Most definitely!
@@Shantel674
But you know, to come to such conclusion involves hindsight. You can’t go into something without having a full knowledge and expect not to get burned. Mentoring has always worked for me. At least while I get the frame work and still being able to make profit is a plus.
I saw his reviews somewhere else and decided to give him a shot. This experience has actually turned out to be my best decision so far in my finances. Herman is indeed a blessing.
Everyone has been preaching "buy now, stocks are at a discount" but I've been buying stocks since the beginning of the year and yet nothing's changed, but I've been reading articles of people still in the same market pulling off over 350k in just a couple months, what am i doing wrong?
You’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
There are a lot of independent advisors you might look into. But i work with. “Meghan Maureen Kristensen” and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
There are a lot of independent advisors you might look into. But i work with. “Meghan Maureen Kristensen” and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
There are a lot of independent advisors you might look into. But i work with. “Meghan Maureen Kristensen” and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
This was good. I feel we also need expose videos on "not a financial advice" CZcams influencers. 😆
Facts
I think everyone needs to be exposed….including PBD. Let’s research these people and ask tough questions. Remember they are making millions from us and we are just watching them talking lol
I've read that they are better equipped to look for opportunities in bear markets.
Being an investor is a lot of hard work you have to constantly be updated in the market and you sound like you probably don’t wanna do a lot of work because you’re close retirement so I would recommend investing in something like the Dow or the S&P they often outperform a lot of the big hedge funds. If you are really serious about investing you should read the intelligent investor by Benjamin Graham and then you should look at warren buffets annual meetings and get familiar with finance.
Close retirement, exactly. I don't have a lot of time on my hands but I have experience working with professionals like the family lawyer and our accountant.'Monica Mary Strigle My spouse is recently deceased so I am happy to hire services of an advisr with requisite skills and be sure I can conduct my due diligence properly.
Two hours with two of the most thoughtful, intelligent and articulate men around today ❤ Great interview on both sides!!
Great interview? Agree to disagree.
PBD IS AMAZING. “HOW I CREATE WEALTH”
The first step to creating wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI-pro, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
I am fortunate I made productive decisions that changed my finances through my financiaI-pro. Got my 2nd house in Feb, and hoping to retire soon. Give this a try and attain weaIth.
researvh the name, if you care.
REBECCA MARTIN WATSON
dear lord please help this poor fool
Right now the markets are crazy but there are still hidden opportunities therein. Having monitored my portfolio performance return huge six figures from the last 2 quarters of last year, I have learned why the market will remain a money den for those who know where to look.
The markets are been propped up by the FED printing money with NO limit. Every time the Market blips down the FED dumps cash into the dip. Tbh I'm in need of a good investment plan currently, I have a lump sum of $100k+ in a savings account yielding next to nothing
Starting out with a with a professional that knows the ropes of the choppy but profitable market is the best way to achieve getting a well structured portfolio. That’s why I have been working with ‘Kate Elizabeth Amdall’ and that doesn’t make me daft because in financial dealings one have to be prudent. Most traders enter exit with a quick 10% profit which is not bad in a general opinion but why not aim higher, it doesn’t necessarily mean to be greedy.
i am approaching retirement & i think this is the last window of opportunity for me to become a millionaire before retiring, as Recessions and downtrands are where millionaires are created. Currently i have some lump sum in a savings account and will like to work with a fiduciary financial advisor to achieve my goals. Please how can i reach Corinne?
I just looked up Deborah on the net and scheduled a call with her. From my research, she seems very proficient so I wrote her detailing my Fin-market goals..
There are also hidden dangers. To think any individual can out-think 1000s of people working for hunders of investment companies / brokers if fools gold. You are better off becoming a congressman or senator and getting rich on insider trading there. the fact you americans tolerate that is simply fascinating... especially with morons like Pelosi and AOC being multimillionairs now.
I believe this episode marks a pivotal moment for Tom. It might just be the most significant one in his content journey. As Patrick rightly pointed out, Tom has a substantial following, and I've sensed he's been maintaining a neutral stance for a while. I'm excited to witness the emergence of a new, more assertive Tom
Agreed.
I could not have said it better. I was very impressed that Patrick was on Tom’s show, just shows Tom has really moved up there.
Upvote.
Wow.. Patrick is a realist and is able to put into words what so many of us think and feel these last few years. Thank you for have a thoughtful, adult discussion with him!!
The beauty of logic is that it doesn't "Feel" it's way around in a dark world in anticipation of everything that resist making "Perfect" sense. And to think Patrick is articulating things he's never felt about the Same things he's never seen before.
He can talk non stop
i love Tom but I hate Patrick. He had a pyramid company that preyed upon the elderly and drop-out college students.
The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of $550k...that's like 7times more than I average on my own.
@@PhilipDunk I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
There are a lot of independent advisors you might look into. But i work with Carol Vivian Gioia and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her.
@@PhilipDunk Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
What Patrick said the last half of the video brought me to tears. God bless him and God bless the USA!
BTW, if you're going to deny what you said, you might ought to edit what you said.
PBD is a ROCKSTAR! I love that he does not gaf about speaking truth about politics, religion, finances, etc. Much RESPECT!
Really? Watch him on Tucker Carlson. He’s full of shit on politics. Lied and lied and lied.
PBD is amazing, nice to see him on this podcast besides his own.
You humans, always looking for someone to worship...
It really shouldn't matter if the market crashes or not. Its supposed to be a chance to buy more, for those who know where to look. Only fools sell during a market crash. My work colleague accumulated over $1.8m in profits alone during the last crash and even pulled it off with ease in a bad economy. Matter of fact, I am so looking forward to the crash.
It's true that many people are making six-figure profits during this downturn, I can attest to it. But the majority of those who effectively employ these tactics have extensive market understanding.
I agree Jesss. This is why I rely on an investment advisor for my daily decisions. Their expertise in long and short strategies, coupled with risk management and exclusive analysis, ensures substantial returns. Since the pandemic, I've gained over $1.5 million through subsequent investments, benefiting from their approach.
@josephbush Mind if I ask you to recommend this particular coach you using their service?
Found her, I wrote her an email and scheduled a call, hopefully she responds, I plan to start 2024 on a woodnote financially. Thanks a lot for sharing.
Scam
My portfolio has good companies, however it has been stalling this year. I’ve approximately $700k stagnant in my reserve that needs growth, any suggestions to grow my portfolio will be highly appreciated.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months@@Owenra
I’m new to all this, heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up @@Sarahd440
Valerie Jean Zwosta is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself@@Vivienedouglass
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.@@Sarahd440
Very interesting to see PBD go from being the interviewer to the interviewee. Being able to do both just shows his intellect. Love it ❤
I doht dislike him but he doesn't strike me as an interesting YT personality. He sort of says and talks about the same things in every interview and behaves the same way. I dont mind the guy but him alone on his own channel is just another boomer coming into this space and acting and behaving the part, saying the same stuff again and again wearing a suit worth more than a months rent/mortgage of most of the audience. Im not trying to be rude, but I am trying to see a bar set that's as fair as possible. He doesn't have to agree with my opinions but I'm really just trying to understand what made you like the dude
@@mathewhex7045Pat is an MLM grifter using politics to get attention so he can plug his MLM company when all eyes are watching! He does belong in this space , hes doing all for clout to gain a following.
DOESNT belong
@mathewhex7045 Pat ran a sleazy MLM life insurance scheme where 95% of the licensed sales agents make less than a minimum wage worker making $7.25hr while he leeched off their commissions and charged them $200 ea to get licensed in addition to charging them for high-priced hype seminars.
Book tour
PBD is the goat. I think he made Tom think. Too many successful people act too tolerant with ideas they know don’t work. It’s time for successful people to share how they live and what works and not feel ashamed. Kudos to PBD for fighting for us
You are right Nick! 👏🏻👏🏻👏🏻 PBD class act.
True he has the insight of a goat, baaah. He's all marketing, hype and image. Unclear how he became any sort of business guru. He's just some social media marketing influencer - caveat emptor
Word.
@@z5m2thank you for being one of the few to be willing to use their brain. I'll tell you how he became successful...MLM..aka a legal pyramid scheme. PHP Agency. In other words, he took advantage of financially desperate and vulnerable people. One of the biggest grifters out right now on the business side of social media.
@@z5m2he owned and sold an insurance company for a few 100 million. He is also a minority owner of the New York Yankees.
Is there a chance that what is holding the market up is speculations that the economic policies would be favorable going forward? I think it's important to stick to stocks that are immune to economic policies. I'm looking at NVIDIA and other AI stocks. Maybe there are other recommendations?
I bought into NVIDIA around September because my financial advisor recommended it to me. She said the company is selling shovels in a gold rush. It accounted for almost 80% of my market return this year.
That's a great analogy and I love the insight. Professionals could make a really big difference in investing, and I think everyone should have one. There are aspects of market trend that is difficult for the untrained eyes to see.
One of my goals is to employ the service of one next year. I've seen some off LinkedIn but wasn't able to get a response. Could you recommend who it is you work with?
Finding one requires some meticulous searching. I personally work with Sharon Count Louise, and she makes very excellent recommendations. You could check her out yourself.
Civil discourse at it's finest. I'm grateful for both of you guys.
Patrick is a good story teller. Great insight
For sure. He's a great story teller! He takes information and makes it easily digestible through story. This conversation with Tom and Patrick is top notch.
Best,
Impact Theory Community Manager
Rich from Ponzi Schemes.
This guy is smart, thank you for letting him talk!
Thank for you listening! We hope you enjoyed the conversation.
Best,
Impact Theory Community Manager
@@TomBilyeu you really should do better background check on your guests. 🫣
This guy Patrick ran a sleazy MLM life insurance scheme where 95% of the licensed sales agents make less than a minimum wage worker making $7.25hr while he paid them the lowest commissions in the industry and required them to constantly recruit new people to charge them $200/ea to get licensed!
I really enjoyed this conversation, thank you very for hosting this. You are inspiring sir!
Things appear strange right now. The value of the US dollar is declining due to inflation, but it is increasing in comparison to other currencies and commodities such as gold and real estate. People are flocking to the dollar because they believe it is safer. I'm worried that rising inflation will cause my $420,000 in retirement funds to lose value. What else could we do with our money?
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
She appears to be a true authority in her profession. I looked her up online and found her website, which I browsed and went through to learn more about her credentials, academic background, and career. She owes me a fiduciary duty to act in my best interests. I set up an appointment to use her services.
Invest in annuities
Inflation in the past two years wiped out 20% of your retirement. I am not a guru, but I would be in tangibles like Patrick said. He's not giving out investment advice, he's just dealing with it rationally
@puppetmaster706 which kind if annuities?
With so few stocks driving up the latest rally and the majority of "traders" looking to "get rich quick" as the shin comes off those profits, it's time to realize "you'll never go broke taking profits." Buffett is also selling! I'm still uncertain about selling my $200k portfolio, considering its recent significant decline.
Don't sell; avoid trying to time the market and incurring unnecessary taxes. Stay grounded and focus on the long term. Or just seek counsel from a market strategist.
This is why I've entrusted a fiduciary with my investment decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to $880k, generating sufficient dividends for my household's needs.
The decision on when to pick an advisor is a very personal one. I take guidance from "Debra Ella Nicholas" to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net. `
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
Those words absolutely cut to the bone...
The economy is not broken, it works perfectly. THINK ABOUT IT!?!?!?!?!?!?!!!!!
Federal Reserve is a private banking cabal.
Crypto is controlled by the private sector so how do navigate this problem? Less(er) regulations perhaps?
How about not buying another home and invest in new/ out of retirement small farmers for chickens eggs beef and pork for locals, and build our alternative to the govt funneling prices up on essentials. Open sourceed and by donation or barter option. If energy goes down, we have some power.
What bothers me about this situation is the fact that the news and media are all going about a recession which is understandable due to the war and pandemic but still the same media still publish articles about folks in the same economy pulling off hefty 6figure profit(Averg. 200k in barely 8weeks) in this downtrend how is that possible?
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
Having an investment advisor is the best way to go. Based on a direct encounter with a CFP named Kate Elizabeth Amdall, I can say with certainty that their skills are excellent. She helped raise over $580,000 in 18 months from an initially stagnant portfolio of $150,000
Fantastic! can u share more details?
Cant reveal much info, she is the shrewd advisor responsible for my portfolio success, it's only right you look her up and confirm yourself.
I'm definitely gonna check her out. Do yo have any idea if she manages family fund?
WOW! I couldn't have imagined being focussed and listening to a conversation for 2 hours straight! You guys are a true inspiration! (stumbled upon this channel on YT).
Wow, wow, wow! This episode is now tagged in my "All time favorites" list! Patrick and Tom - thank you both for your great perspectives and positions! Thank you for being raw and exposed! Thank you for helping me have more clarity in a confusing world! Much respect Sirs! John
PBD really made Tom happy in this podcast ❤
The guest sounds DUMB - praising the NUTTERS llk Elon and Joe is ABSURD
The politicians who took bribes should be held accountable !!! Big time !!!!
All guilty so no one tells them
who will hold them accountable?
@@vbb4741 Democrat voters won't
Specifically, THE DEMOCRATIC PARTY. So you think they'll be returning any of the hundreds of millions in campaign contributions that SBF made to them??
Yes please and I’m still waiting to hear about any accountability for Covid
Tom I loved your desire to fly an American flag! I came to this country as a five year old and share the same sentiment, growing up in the 80’s, we all loved America 🇺🇸 that’s what united us!
21:50 Artificially cheap money
26:00 Ticking time bomb
28:50 Unstable economy
32:00 CC debt and 23% interest rate
36:00 *Reverse market crash*
38:00 Money flows up
43:00 Forestalling catastrophe
46:30 China vs India
56:00 Only the paranoids survive
1:01:00 Non duplicatable assets
1:13:00 Covid
1:25:00 Selling America
1:46:00 Why create content when rich?
1:50:00 Rich people are greedy, poor people are lazy
1:57:45 Don’t be timid
1:59:00 Top 5% pay 80% of taxes
Such a great soul!
Forex trading is the best investment one can do right now though stocks are good but ever since I swapped to Forex trading , I've seen so much difference
There's a favourable forex rise in profit, This will be the best time to invest in forex based on current status
I have been making a lot profit through forex trading which has been the main source of my income
HEY PACHECO... I’m interested I want to move to forex can you help me trade?
Actually an expert broker handles my forex investments while I invest in some real estate with the profit I make
sounds great! please I will appreciate your assistance on how to go about it, who's your broker and how good is your broker
PBD is the man. This was the best episode you have had in a while Tom. So many topics covered ! Thank you
Under every episode someone write this.
Mid-way through and I am blown away by the quality of this conversation, the free knowledge and the wealth of experience shared between these two guys. I have learned so much and I am extremely grateful for the perspectives on the things to come.
You guys aways make great content and share powerful information 💪🏼
This was a legendary episode. Thank you both.
Absolutely informative
Seriously, this is the best episode yet. This discussion is so important! I hope many people watch this video over and over.
Love this one and PBD!!! Everyone needs to hear this
Thank you to both of you for the great informative video ❤
This country needs more men like PBD. If more individuals had the character he possesses, we as a country would not be wavering. Thank you for this interview, awesome!
The dude is a conman! He doesn’t care about politics, hes using politics to get attention.
@@TheWholeDamnShow007 he served 4 years in the military for this country. Is that indicative of a con man who cares nothing about this country? Does a man who has 4 kids not care about the policies being implemented that will effect his children in the future?
@@TheWholeDamnShow007 please tell us more on why he's a conman. I'm open to learn.
@@products4less409 theres alot of politicians that served and are corrupt so dont overhype military people
@@products4less409 did you know he got a Dishonorable Discharge after being in the army for 1 -1/2 years?! Do some research. The man is a conman in disguise in a suit. I bet you also gonna believe he sold his MLM company for 400m too? Lmfao those are lies. Not gonna say he isn’t rich but he ain’t that rich, he’s painting this picture of himself as this super ultra rich entrepreneur and when the market crashes he’s going to push his MLM company’s mission ( that he stole from WFG ) and how it can save America.
I have been watching both of you on your respective channels for the past many year. This was by far one of the most impactful discussions between two men with different perspectives. I am the 19th child of 20 kids. My father could not read and write and was a slave driver. Poor would be an understatement. The number of individuals that influenced my life were many but few helped change it. I watch you both because you expand my perspectives while seeking truths. Today was powerful hearing more about Patrick’s background and his evolution. Much L❤ve. Uel
Thank You Tom! This Show should be, "The Gold-Plated Edition" featuring Patrick Bet-David! Always love listening to Patrick's perspective and strategies along with his Energy! Glad just to hear him speak on various Topics that help adjust the World. This fellow hits nails directly on their Heads!
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person..
My advisor is Stephanie Kopp Meeks highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.!!
I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again...>
Got a little awkward there at the end when they weren't hearing what the other was saying but came full circle and ended in smiles. Need more men like these two in America because thought leadership has been a vacuum for 25 years.
But Tom need to have kids because a man who are successful and choose not to have kids is equal to homeless man.
It did get weird toward the end when Patrick asked you do you have a podcast ? To become famous ?
@@MariaCibrian That was rhetorical. He knows Tom isn't doing it to become famous.
Patrick trying to say Tom is bigger than that, therefore, he (Tom) has so much to share and be proud of, to speak without fear as fact. Not to use preamble such as that he is not being political. That’s how I understood it.
@tgchikukwa6947 what?!?!
Wow, I wish I could give this a thousand thumbs up!!!! Love PBD!
I LOVED this interview, I was engrossed in it, Patrick is amazing. But Tom it explained why everytime I watch you I sensed your fear of dying. I thought is weird that I am picking up that vibe, now I understand. By the way it was so nice to see such a well dressed man as Patrick. I will subscibe to Patrick's podcasts because this is a man who has common sense and gets it.
Interestingly PBD is one of the greatest Americans. Kudos for inviting him!!
Patrick is a genius 👏 thanks for inviting him!
Thank you for your support!
Best,
Impact Theory Community Manager
Tom I’ve listened to you before but I’ve learned so much with you having patrick on here and you guys both being so real keep it up
I’m immigrant. I came to America. I owe America. The only things I brought into this country is the love, family value, respect of other, and hard work.
You Sir are the type of immigrant that America needs. Good luck, and I hope you attain The American Dream...
P.S. By the way, PBD is an incredible guest. Very grounded, very knowledgeable, always a pleasure to listen to
Tom sounds like a very, very smart individual by allowing staff to come to him when they disagree.
No ego about biz decisions Wins.
PBD thank you for saying what a lot of ppl are thinking. I almost teared up bc I could tell Tom was really hearing what you were trying to say. I used to watch this show a lot then dropped off bc something about the way it felt seemed...sterile? Idk. But he's right. You're not average. You've done some amazing things with your life and have some great ideas worth sharing and I hope you keep doing it. Thank you for letting us be a part of this. Much love.
Loved this discussion and PBD's last few words. He makes so much sense!
Hi Tom, I think you’re here for such a time as this our country needs YOU to take a stand for our country and communicate in a way that our youth and everyone can understand what we have to lose if we don’t stand for America being great!
This is the best podcast you’ve done. Thank you so much!!! for talking about these complex issues, enlightening.
If not, now, when? ❤
Best interview ever!!!!! Patrick is right, never hold back on being a patriot!!!
Thank you for sharing your views! The topics and things mentioned are informative especially those statistics. positive paranoid thinking is very influential.
1h11 is spot on. If you're a real man, having kids lights a fire under you like nothing else will. You will find a way to make it happen when you have a family depending on you. One of the greatest lies that people in the modern world have fallen for is that you need to wait until you're "financially solid" before having children. No. Have kids and do whatever it takes to support and protect them without taking handouts or breaking the law. That's the true measure of a man.
Thank you both for having the real, honest conversations we need!
@@Tom_Bilyeu..._FO
2-3 years ago, after watching and learning from Valuetainment for a few years, I had my mind blown when I learned PBD was only 42 at the time. I watched him for years and never questioned his age. PBD JUST turned 45 last month. This guy has some serious wisdom about him. He's always a great guest. Pumped to watch this, Tom.
Cause PBD is a con. Had you fooled simply on his age.
He is a serious scammer
Haha wtf@@CoolestGuyInTheRoom
lol haha
I know me too. It’s hard to believe he’s just a few years older than me.
Great conversation and really inspiring!
Tom, speak out more on your winning ideas, and continue to defend our marvelous nation. I love your podcasts. Thanks for having PBD on. The conversation was fabulous.
Patrick, always great content. Love PBD
Morality equals Freedom! As morality increases, freedom increases. As morality declines, freedom declines. ⚖️
Satan’s work, I agree. Even the “professionals” can’t prove it wrong!
My favorite to date. Thanks Tom
My God Patrick is the most simplistic minded guy I have heard in a long time.
He's like a toddler describing the way the world works.
Accumulating wealth requires the cultivation of strong habits, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital but often overlooked subject, which can come back to haunt those who neglect it. Earning money is only one part of the equation; preserving and growing it is equally essential. The lack of formal education on investments in schools is a glaring omission. The instances you mentioned are illustrative, with the market crisis leading to my initial substantial gains. While many shy away from challenging times, I've learned to embrace them, or at least my advisor does, with a touch of humor.
This is excellent! As a novice, navigating the world of finance can be quite challenging, and staying well-informed is often a significant hurdle. How do you manage this? Are you an experienced investor?
I apologize; may I ask who provides you with guidance throughout this process?
great conversation, Pat's right we would love Tom to discuss whats happening out in the real world as well to hear his POV not beating around the bush and avoiding speaking his mind on real world issues
Great discussion.
One of the best interviews I’ve ever seen on this platform
Fact that PBD remembers all of these numbers off the top of his head is crazy
It’s not off the top of your head if you are reading about it every day. It’s no lt research , it’s life
@@niall86facts
I was thinking the same thing. Its hard !
It is his job. He is an insurance guy. That’s economics, trends, valuation and risk. It is his arena.
He's reading his cue notes.
Thanks Tom, you're amazing as always, PBD grateful for people like you guys, God bless, keep up your enlightening work🙏🏽
Das
loved this
Great video - thank you!
What an amazing conversation by two interesting people. Really had me glued towards the end when Tom expressed himself and the response from Patrick. How they showed respect for each other speaking their own views and experience. This is how we all need to talk and learn from each other. After all this life is just an experience, each person has their own experience and just trying to tell the other their story, wonderful, thank you for sharing.
P.S. I feel if people wasn’t so patriotic about which part of the world they come from and embrace all places where ever they go their home.
Flora …. It is were not and not Was not… in your sentence: I feel if people wasn’t (The noun people is plural in this particular case as I assume you were referring to worldwide population)
Lol ok which one of you called the grammar police
Hey.... I just seen a liberal trying to defend the wrong and an honest guy saying that's not how it works. Maybe I'm wrong. Show me.
I’m agnostic leaning atheist & if there was a church of freedom, I’d be attending everyday to listen to Tom. Thank you for continuing to do what u do & showing up to share your voice
I absolutely love the perspective that Patrick can bring to this conversation. America is the greatest country and we have to realize that it can be destroyed from within. We need the courage and faith to stand up to keep it great. How do we stand up? Learn, build, share and teach. Phenomenal interview!
This is my first time listening to anything even remotely like this. This was unbelievably eye opening but so awesome to hear healthy dialog on so many levels, finance, politics and cultural issues. Both of these men are awesome. Keep it up.
BUILDING WEALTH INVOLVES DEVELOPING GOOD HABITS LIKE REGULARLY PUTTING MONEY AWAY IN INTERVALS FOR SOLID INVESTMENTS. FINANCIAL MANAGEMENT IS A CRUCIAL TOPIC THAT MOST TEND TO SHY AWAY FROM, AND ENDS UP HAUNTING THEM IN THE NEAR FUTURE. PUTTING OUR TIME AND EFFORT IN ACTIVITIES AND INVESTMENTS THAT WILL YIELD A PROFITABLE RETURN IN THE FUTURE IS WHAT WE SHOULD BE AIMING FOR.
Assets that can make one successful in life
1.forex
2.stocks
3.shares
But i don't know why people remain poor due to ignorance
Forex is profitable and lucrative investment online
Natural, there's a lot of math involved in forex trading. but this is often presented in forms of daunting technical charts, indicators, patterns.
I like Pat was on and brought logic, reason, math, patterns, Pat cuts through BS like a BOSS!
Always does 🤙🏾
Awesome conversation
Great show mate....thank u
Watching the two of you talk, perfection imo. Love listening to both of your ideas and talking points
Speaking from a $900million net worth of experience, new or existing lnvestors that wants to get so rich just needs to learn how to diversify their investment portfolio. Like spread your investments across different asset classes to manage risk. Then with growth strategy, focus on capital appreciation through high-risk, high-reward assets. With Income-oriented strategies, target regular income from dividend stocks or bonds. Works like magic!
EXACTLY! And its not even as difficult as many people presume it to be. It just requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. That is how people are able to make huge profits in the market.
I completely agree, this is why I give a licensed coach control over my everyday investing decisions. Their proficiency in research, specific knowledge, and risk management makes it difficult for them to deliver below expectations. They emphasize minimizing drawbacks while maximizing risk's asymmetrical potential. I have more than two years of investing coach experience, and I have made more than half a million$.
@albatkobe The adviser that guides me is HEATHER LEE LARIONI. She works with Empower FinanciaI services near my old office so I see her often to discuss my business. There are a lot of independent advisors you might look into. But for me, her strategy works hence my result. She provides entry and exit point for the securities I focus on
Excellent, thank you. 🙏
Tom, you're setting the bar high with your interview skills! 🎙🌟 #RaiseTheBar #InterviewExcellence
Love that tom just sits and listens.....Very valuable... info. Its so interesting hearing people be afraid to be patriotic in America. Its the most sinister thing to make people feel like they will get in trouble for loving their country.
I’ve never previously understood a lot of the topics discussed until now, fantastically explained, comprehensively and logically. Thank you.
Holy f**k. I never heard of Patrick before, but that guy is amazing. Thanks for bringing him in, Tom. And also thank You for all the other f**king *amazing* videos You put out.
Fantastic conversation 😊
I'm a fan of both Tom and Patrick. I'm thankful y'all did this video together. Thank you.
I’ve been following PBD for a couple years and I’m glad he’s expanding and sharing his book and his mind to others if it’s your first time hearing this man you gotta give his podcast a listen 💪🏽
@@Tom_Bilyeu..._eh....
NA....
It's just too bad I haven't seen him make an accurate prediction yet. Though a broken clock is right twice a day, so if he keeps up the doom and gloom he will eventually be right for a year or so.
@@Ironmike341 eh it’s just a perspective thing I don’t necessarily agree with everything but odd things do line up like clockwork
@@metalchu correlation does not equal causation
I respect and admire Patrick Bet David. Hard to find a man of honor, smart, admirable and upstanding man, as well as his smart @PBD associates. Together form are a great team! (E.)
Great conversation, keep pushing out the truth
I usually don't comment, but this was very strong. Real emotions and brings back some believe in a better future. Thank you guys.
Respect to both brilliant minds. Respect to PBD for standing his ground and for Tom to also stand his ground but to accept Pat's advice gracefully. For those waiting on the fence to watch the episode, this two guys took their white gloves off and started jabbing at each other respectfully. Great podcast episode.