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Financial Media Has a Bitcoin vs Gold Battle on Its Hands

Some say gold is a safe bet. Others prefer Bitcoin, or digital gold.

Rick Schultz

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A photo of a gold coin with the Bitcoin logo

With the economy seeming to worsen, many are wondering if either gold or Bitcoin can provide a safe haven for investors as they weather the current financial storm.

And as recent GDP numbers and economic indicators continue streaming in much lower than expected, and inflation coming in higher, many economists think the country is headed for another recession. 

Many say investors need to protect themselves.

Some say gold is a safe bet.

Others prefer Bitcoin, or digital gold.

Two weeks ago, FOX Business host Charles Payne hosted an impromptu debate between renowned gold bug, Peter Schiff, and one of Bitcoin’s most eloquent proponents, Natalie Brunell. Neither knew the segment would become a gold/Bitcoin debate, and they each offered their point of view respectfully.

As an encore performance, Brunell welcomed Schiff onto her popular Bitcoin YouTube program, Coin Stories, so they could expand their conversation into the macro state of the United States economy.

“A lot of the people who follow both of us, we agree on the problem, we agree on the fact that we need hard money again. And what they’re doing with the economy and interest rates and blowing up another sovereign debt bubble is the wrong thing to do,” Brunell began. “So talk to me about what you’re seeing right now as far as the economy, whether we’re going to hit a cliff and go over it. Finally hit maybe a debt spiral collapse. Or if you think we’re gonna manage to do that soft landing that so many analysts in the mainstream world are saying.”

“Well you know that I don’t think there’s going to be a soft landing,” Schiff responded. “And I don’t even know if it’s a landing, because if we crash I don’t think that constitutes a landing. But I think the economy is in far worse shape than the conventional wisdom would suggest. Certainly Wall Street, the Biden administration, the media are spinning the economy into something that it’s not.”

Schiff has been a long-time proponent of gold, even from the days before Bitcoin’s existence. And while he and Brunell may disagree on the usefulness of gold today, the two seem to have similar views on the causes for the American economy’s decline. They also share similar opinions about what may or may not be done to revive it to the vibrant state it enjoyed just a few years ago.

“I think the statistics are very misleading, especially if you just accept them at face value. A lot of the statistics that purport to support a strong economy I think are going to be revised down. I don’t even have any confidence that the numbers are going to hold up,” Schiff said.

“I’ve been pointing out, and you may recall, that the 2008 Great Recession wasn’t called until December of ‘08, and they said it started in December of ‘07. So they went back for an entire year and re-did all the data. And the data previously had shown that the economy was good and it was growing, and everything was great. And then they went back and said, you know what, all those statistics were wrong. We’ve actually been in a recession for an entire year.”

Interesting that Schiff sees the same playbook being used once again.

“There is a precedent for doing that,” Schiff said. “And I wouldn’t expect those type of revisions to come until after this election. There’s no way Biden’s going to come out and admit that we’ve been in a recession for the past year or two. But they may ultimately acknowledge that once the voters can no longer react to it.”

For years, Schiff has made the case for gold as the best protection against economic downturns and mismanagement. Brunell, on the other hand, see’s gold as the predecessor to today’s superior form of money, Bitcoin.  They both feel there is currently a need for sound money in a tumultuous economic time. Regardless of what the official government data says.

“It’s not just that the numbers may be revised. I think the numbers as they stand now don’t even support that the economy is strong,” Schiff said. “One of the things that they look at is the job creation, and they point to all these jobs that are being created. But what they don’t acknowledge is the quality of the jobs. They are all part-time jobs. On balance, full-time jobs are being destroyed. We’ve lost full-time jobs.”

The loss of full-time jobs also backs up mounds of other data, which shows how weak the U.S. economy currently is:

-A report from Bank of America Global Research showed the current Democrat president having an amazingly-unique combination of a low unemployment rate and abysmally low approval rating. Approval rates are usually much higher with the unemployment numbers as low as has been officially reported, leading many to think the positive economic data has been manipulated.

-A recent report from the Centers for Disease Control and Prevention says United States fertility rates have cratered to their lowest levels in nearly a century. Economic uncertainty theoretically puts a halt on new family formation.

-Q1 GDP growth came in at only 1.6%, well below the 2.5% that was estimated.

-A Discover report from SEC filings currently shows credit card default rates spiking to levels not seen since the financial crisis of 2008-2010.

“The jobs that are being created are second and third jobs that are going to people who already have jobs,” Schiff pointed out. “Now the question is, why are people working second and third jobs? Is that something that they want to do? Or is that something that they have to do?”

The duo continued their discussion on the macro state of the economy, and also bridged into their debate between gold and Bitcoin. The full discussion can be seen on Brunell’s YouTube program.

With all the data that stands in opposition with the government’s rosy numbers, Schiff and Brunell have been educating on the need for sound money during difficult times.

Schiff prefers gold. Brunell, Bitcoin. 

And as the economic picture becomes more clear in coming months, we’ll get a better idea about which one performs best in those difficult times.

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Kraig Kitchin Knows and Values the Importance of the Radio Hall of Fame

“I am first and foremost somebody who likes to shine a spotlight on the … brilliance of others. I don’t stop to think about if there’s a place for me in the Radio Hall of Fame.”

Garrett Searight

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A photo of Kraig T. Kitchin
(Photo: Kraig T. Kitchin)

When the 2024 Radio Hall of Fame class was announced earlier this month, Kraig Kitchin was surprised by one name on the list: his own.

Kitchin — the co-founder of Premiere Networks — is the co-chair of the Radio Hall of Fame and said he was surprised to receive the honor.

“I was pleasantly shocked,” Kitchin said. “Incredibly humbled by the gesture. Very grateful to be recognized. I am first and foremost somebody who likes to shine the spotlight on the talent, and hard work, and creativity, and brilliance of others.

“I don’t stop to think about ‘Is there a place for me in the Radio Hall of Fame?’ as much as I think about ‘How do we best showcase and reward people who have really, truly made a forever impact on our industry?” I really didn’t put myself into that consideration set, but I’m humbled that others might have felt that was appropriate.”

Usually on the other side of the phone call informing someone they’ll be inducted into the next Hall of Fame class, Kitchin called finding out he would join the list of this year’s inductees surreal.

“I have spent the better part of the last 10 years doing everything I can to make sure that the Radio Hall of Fame is truly a destination for everybody in our industry, regardless of whether or not they’re in front of the microphone or behind the microphone,” he shared. “So, to have the opportunity to experience the sensation that I am really working hard to provide for so many others, it’s a sensation that actually immediately captures you in such a way that you are without words.”

Obviously, as the co-chair of the Hall, Kraig Kitchin holds it in high esteem. But there’s a deeper connection with the history of the medium and chronicling that history for future generations for the longtime radio executive.

“I think it is most important for our industry to have a vibrant Radio Hall of Fame and meaningful one that is just full of integrity in it’s decision-making process and the way in which they recognize and choose inductees,” he said. “We’re blessed to work in such an industry to begin with. You and I both know how special it is to be in a medium that you can connect with individuals on an everyday basis that you can develop a relationship that is so deeply interpersonal and does so much for different communities. And an industry that has sustained more than 100 years those kinds of relationships.

“So to me I’m really committed to making sure that our industry has a forever history of recognizing individuals who are just really making a difference and listeners minds and hearts, whether or not it’s one person at a time or decades and decades or service, whatever that might be, depending on the inductees that’s chosen.”

When asked what qualities currently define the radio industry, it didn’t take Kraig Kitchin long to rattle off his viewpoints.

“Resilience is one. Innovation is a second. Optimism in the face of a very tough economic circumstance is a third. Creativity amongst all else is a fourth,” Kitchin shared in rapid-fire succession.

“An innate commitment from an on-air personality to make a relationship — to set a date at the exact same time, day-in and day-out for five or six days a week for a forever period of time, knowing full well that if they make a date with a listener, there’s a very good likelihood that a listener is going to make a similar date with that on-air personality and maintain that relationship. I can’t think of another place in all of media where that implicit trust — without saying as much — lives on today.”

Joining Kraig Kitchin in the 2024 Radio Hall of Fame class are:

  • Lorianne Crook and Charlie Chase (The Crook & Chase Countdown)
  • Lee Harris (Former 1010 WINS anchor)
  • Phil Hendrie (former comedy talk show host)
  • Jaime Jarrin (former Spanish radio play-by-play voice of the Los Angeles Dodgers)
  • Kraig Kitchin (Co-founder of Premiere Networks and Co-Chair of Radio Hall of Fame)
  • Barry Mayo (former GM of 98.7 WRKS in New York)
  • Mary McCoy (longest female radio career, began in 1951)
  • Matt Siegel (former Matty in the Morning host in Boston)

Kitchin was incredibly complimentary of his fellow inductees, each by name and listing off their accomplishments off the cuff.

“It’s gonna shape up to be a great induction class,” said Kitchin. “I’m thrilled to see those individuals receive their induction this year, regardless of whether or not I’m fortunate enough to be in their class. I’m proud and very much looking forward to spending time in person with this fellow inductee class.”

The Radio Hall of Fame class of 2024 will be inducted in a ceremony on Thursday, September 19th at the Omni Nashville.

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The Real Reson Why the CNN Debate is Coveted By Every Network

“This debate will answer more than enough questions as to where the candidates really are in this race.”

Bill Zito

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A photo of the CNN logo on a tablet

Everybody wants in. It doesn’t really matter who is actually hosting Thursday’s Presidential Debate, (It’s CNN, if you care) you won’t have to look very hard to find it on TV, radio, live stream, social media, or perhaps even on the stage, performed artistically in real-time by interpretive dance troupes across the nation.

Some platforms will do it better than others, of course. TV and livestream coverage will fare most triumphantly, I expect as who wants to miss the facial expressions, the visible acrimony, and the overall frustration of two old men whose belligerent commentary and interruptions of each other will be mostly lost on an audience without visual reference. I still say radio should be permitted to utilize play-by-play and color commentary for their listeners.

“A crimson-faced former President Trump is repeatedly parroting the words, ‘Crooked Joe, Crooked Joe’0 over a muted microphone as a stoic, almost undemonstrative President Biden enters minute four of his rambling claims that Abraham Lincoln created the NASA program.”

I would listen to that and just watch the TV broadcast with the sound off.

There are differing opinions across the political arenas and perhaps a few pockets of voters, but I am comfortable holding the idea that this debate will answer more than enough questions as to where the candidates really are in this race.

The first face-off is likely to be the only one that matters and the smart news outlets know it and they are not going to let competition stand in their way.

News coverage, no matter where you find it offers carefully crafted, artfully edited, and strategically presented soundbites, video segments, and bits of sit-down interviews with the current and former presidents so this will be the first and most important chance for voters of all kinds to look, analyze and decide for themselves if one, or either of these men have enough left to do the job.

The parties and their lemmings already know who they want so they won’t care what they see, the undecided voter, who is often inaccurately pegged as the uninformed voter, will be scrutinized intently as really, this is their only opportunity to make the decision solely by themselves, without the buzzing of chronic zealots or intense political marketing.

Yes, there is a second debate scheduled (hosted by ABC, if you care) on September 10, but really, if you think about it, it could all be a moot point by then.

Everything is likely to be thrown into this week’s debate, by the candidates, the news outlets, the voters, everyone. A second outing three months later is unlikely to offer the same impact, no matter how close to election day it may be.

It rarely is lucrative to be number two. Apollo 12 landed on the moon just four months after Armstrong and Aldrin did in Apollo 11. Yes, poor Mike Collins was stuck up in the command module but without Googling it, name one astronaut on the Apollo 12 mission.

If you think about it, the networks and the cable channels are in a constant battle not only for ratings points but also for respect and relevancy. Their market is forever shrinking, being nibbled away by every other possible platform in existence. USA Today, a print and digital outlet, has hooked on by offering the debate on YouTube.

That’s just one option, by Thursday there will be others to join Fox News, NBC, and ABC piggybacking on CNN’s broadcast for what’s becoming NFL Sunday in regard to coverage plans, some outlets starting hours before and ending hours after the debate’s puck drop.

Let’s be realistic, if you’re watching Fox News, ABC’s or NBC’s platforms ahead of or following the debate broadcast, you’re a political geek. And that’s okay, own it.

The only way to differentiate between broadcasts is to flip around, and dip into everyone. Turn on the radio for a bit, sit on the couch with your phone, your laptop or your iPad, and take in a bit of everyone’s coverage.

Before and after, you’re only going to listen to what you want to see and hear but during the actual debate, you’ll choose whoever broadcasts the best picture. Let’s be sharp and crisp, folks.

And that’s what matters at the end of the day, who paints the best picture and who tells you something closet to the truth,

Choose wisely, my friends.

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Has Donald Trump Caused the News Media to Change Its Tune?

Rick Schultz

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A photo of Donald Trump
(Photo: CNN)

It seems increasingly inevitable that in slightly more than four months, America will once again choose Donald Trump to be their President. Apparently, skyrocketing inflation, high prices, economic pain, open borders flooded with illegals, crime-ridden streets, and other Democrat party priorities and schemes don’t seem to be selling across the nation.  

Perhaps the biggest sign yet of what’s to come, along with swelling Trump support across inner-city America, is the drastic change of opinion across left-leaning Silicon Valley.  

Clearly, and to their chagrin, the mainstream media’s deceptive narrative-shaping efforts no longer seem to be working.

A few days ago, the widely-popular All-In Podcast hosted an exclusive interview with Donald Trump, to discuss his priorities for his next term in office. The interview made headlines not only for what the political frontrunner said, but also for the reaction of the program’s hosts.

“Thanks so much for sitting down with us, Mr. President,” co-host David Sacks began. “The All-In Pod’s basically the four of us having conversations. It’s kind of a spectrum of different views. We got, sort of like, a little bit of some Fox News, and then some MSDNC at the same time.”

“Well that’s ok,” Trump quipped. “Keeps it interesting.”

Two weeks ago, Sacks hosted a fundraiser for Trump, where many Silicon Valley leaders attended and made contributions to help the former President win another term. Many tech billionaires also stepped up to support President Trump on the heels of the event, including the famed Winklevoss twins.

“One of the things I think we heard a lot at that dinner was the difficulty that people in business were having under this Biden administration,” Sacks said. “You got the crypto guys who just want a framework. They just want the government to tell them how to operate and they can’t get that. You’ve got no M&A happening right now in tech. The real estate guys, they can’t get loans because interest rates are through the roof and there’s a credit crunch. So I think one of the common themes we just heard across that dinner was that it was just so hard to do business right now.

“And I guess maybe a good place to start would just be, what’s the number one thing or maybe the top three things you would do to get things moving again if you’re re-elected?”

“So I’d say regulation, regulation and taxes, ok. You know, I gave the biggest tax cut in the history of our country, and a lot to businesses,” President Trump said. “As you know, they were paying, people and companies were paying 40 percent, 45 percent, including state and city taxes in many cases. And we got it down to 21 percent. We’d like to get it down lower, actually. But we got it down and the revenues were better than ever. Even with the lower rate we had record revenues, which tells you a little about that.”

The All-In interview covered many of the most pressing topics of the day, including inflation, immigration, abortion, and the federal debt. As of the weekend, the podcast episode already had approximately a half-a-million views.

On the rash of murders, rapes, and other crimes being committed by illegal aliens urged into the country by Democrats, Trump pointed out that his secure border would have kept those criminals out of the country.

On abortion, Donald Trump said he does not support a national ban. He also noted that the real extremists are the Democrats, with their frenzied zeal for killing babies right up to the moment of birth, or beyond.

On the oversized bureaucratic state, Trump mentioned some areas he could trim the waste, including at the Department of Education.

Donald Trump also said he would de-classify the JFK files in his overarching effort to be more transparent than the current administration.

But perhaps one of the biggest revelations of the nearly-hour-long interview was how and why typically left-leaning tech leaders have reversed their opinions of Trump, when given the chance to talk with him without the usually-biased media lens.

Following the discussion, co-host and billionaire Chamath Palihapitiya prodded co-host and angel investor Jason Calacanis to give his opinion of the interview.

“I’m undecided, as you know,” Calacanis said, playing coy. “We had a limited amount of time with him.”

Just four years ago, Calacanis told CNBC, “I hate Trump with every fiber of my being and he’s the worst human being on the planet.”

“J Cal, just say it. You like him. Just say it, because it’s written all over your face,” Palihapitiya urged. “Just say it. You like him. You’re confused. You asked great questions and he just dealt with them head on. Just admit it, you like him. You like him!”

Calacanis smiled and said, “I like the fact that he came on the pod, I will say that.”

“I told you you’d like him! This is my point!” Palihapitiya said. “Whether you come out of this wanting to vote for the President or not, everybody needs to, I think, just sit in a room and hear him out.”

“He was very respectful, actually,” co-host David Friedberg said, noting that Trump did not take the bait when asked to comment on some controversial figures. “I was very surprised to hear how he respected Fauci and how he framed his response to that question. And I think that says a lot.”

Palihapitiya himself has admitted he was anti-Trump in 2016 and 2020, and he explained his thoughts on his co-hosts admitting they were surprised by Trump’s calm, rational tone and thoughtful answers.

“But can I tell you why you’re surprised? Because I think we have been fed – this is what I’m saying – we have been fed a narrative of what President Trump looks like,” Palihapitiya said. “Now, in fairness, we’re also being fed a narrative of what President Biden is like. And this is why you have to see these men up close and personal for yourself.

“Because, David, the fact that you’re surprised is less about the fact that Donald Trump has changed. It’s more the fact that you’ve been told a narrative and you’ve believed it. And so now when you see the actual truth you have to re-underwrite. Hold on a second, he’s actually pretty thoughtful. He’s pretty presidential. He doesn’t go off on people. That’s not what you probably thought going in because that’s not what the mainstream media portrays about what you should be thinking.”

Perhaps many voters have also wisened up to the manufactured, media-driven conspiracies that were never true in the first place. That Trump was a Russian agent. Or that he said white supremacists were good people. That he told people to drink bleach. That he verbally disparaged our troops. The media reported these things, and many, many more for years, even though they were knowably false. As a result, the voting populous no longer believes the fake news media that cried wolf.

A recent poll from one of the most accurate outfits, Rasmussen Reports, shows Donald Trump with a ten-point popular vote lead over Joe Biden. As many experts have pointed out, this favorability across the country is much larger than the margin of fraud they believe occurred in 2020.

So it seems that – despite the mainstream, corporate media’s best efforts – the wide swath of America stands behind Donald Trump and his plans to help the nation regain peace, prosperity, and security. Never before have we seen Silicon Valley, rural America, and a groundswell from urban culture converge onto the same team. 

This should make for an earth-shattering November 5th, which the media will have to cover, whether they want to or not.

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