You cant wait for this one. The democrats continue to be appalled at idea of cutting funds for the most h post office by not for police. Nancy pelosi calling back but not for stimulus. Get reaction from liz peek. Bernie sanders gets the spotlight tonight and well have a live preview. I will get reaction from sean hannity later in the show. All that and more on making money. Charles we start the week back at s p 3393 watch. 3393, keep that number in mind. But the megacap Growth Stocks leading the way which may help with that record sooner rather than later. The hottest safe haven stock is really tesla. Yes, it is a safe haven stock, folks. Another upgrade on a target this morning. Wedbush sees 1900. Before they were at 1800. Who is in for the ride on tesla . Lets bring in our panel. Michael lee, he does it all. Money map strategist chief investment strategist, shah ghailani, and Gibbs Wealth Management erin gibbs. Erin, i have to start with you. At the beginning of the week we saw the intriguing rotation. Weve seen it before. Thursday and friday, the megacap names. Ive been saying for months, theyre defacto safe havens. Theyre defacto juggernauts. Just where investors are not sure where else to go. Yeah. One thing we have seen, charles, just in august, that there has been a shift, weve seen some of the cyclical stocks come back in, premier homebuilders, retailers come back. That breadth in the past four weeks is what makes me feel much better about where we are in the market now. Im still concerned about the volume, right . Summer volume. A lot of money is on the sidelines. A lot of people are waiting to find out what the stimulus package will be but i am happy to see that it is not just the medicare caps. There is actual room for profits out there besides your bank stocks. Charles you know, shah, ive been concerned about the volume since march of 2009. And also, all that money on the sidelines is still, here we go. We keep powering higher. The s p is ever so close. What do you think happens . Does the, do the dynamics of market change if we get new high in the s p . Would that force some money on the sidelines into the game . I do believe that would be the case, charles. If we see, and we will see a new high in the s p, well see institutional players who have been too far, too long on the sidelines through most of this rally will have to finally come in. A lot of them have chased the rally higher but theyre still in money market funds sitting there idly. Retail investors ready to come in, institutions ready to come in. I see the markets with another leg higher. Probably they should. Speaking of records, nah. About, the Homebuilder Sentiment reading dwarfing expectations, coming in highest level since september of 1998. Perspective buyers, traffic hitting alltime high. Hopped on this space long before the numbers began to pop, michael, how should investors be positioned whether homebuilders or Something Else in this market where the bias is still decidedly to the upside . I think what is pushing the homebuilders and what is pushing the market overall higher. You have the fed pumping liquidity into the economy. M2 is up, money supply is up 25 since march. As a result, Interest Rates collapsed to zero. Savings rate is close to 20 . What is pumping homebuilders higher as well as coronavirus pushing people out of cities. Were in for a new leg, a mass exodus from major metropolitan areas into the suburbs. Building new homes. They want more space. Dont want to be locked down. I see home depot this week, i see that your best bet. Retail sales are up yearoveryear which is remarkable and theyre up since february. A lot of that money is flowing into the amazons and lowes and home depot. Lowes is more of do it yourself type shop but i prefer the rugged good looks indoors of home depot. Charles you know it is interesting, im glad you brought that up because the retail sales number on friday missed consensus, but seasonally adjusted it was an alltime high. It only took five months to get there. In the Great Recession it took 40 months to get back to the alltime high. I want to ask you Something Else that is sizzling, the ipo market. This ipo went public at 16. Closed over 55 on the first day. Up 350 . Up again today. It is not the only one, right . The whole ipo market is sizzling. I want to go to you, shah. Is there anything in the ipo space, anything on the calendar we should get on our radar . A couple big ones. I like quicken loans rebranding themselves as rocket companies. I think they will do very well. It will be easy to understand their pricing in terms of what the valuation of the company is. It is fairly straightforward business. It is pa massive. Theyre expecting 73 billion this quarter in mortgage applications. They did 53 billion in q1. I think ipo should be a home run. Snowflake, they will do well when they come to market. Seen as another one, im not so sure, i wouldnt go into airbnb. That is not my cup of tea but certainly others out there look really good. The market is very receptive. Charles rocket has been very strong. The street has received that one very well. I want to go back to the Consumer Spending for a moment. It has been very powerful. All i know is really, where weve seen some strong names. But these brickandmortar names that are emerging, right . They will have the survivors in that space. A lot reporting this week. I think theyre going to do extraordinarily well, many of them. Erin, let me ask you your thoughts, are there any sort of brickandmortar type names . We have omni channel, you have to have internet strategy, Curbside Pickup and delivery. Brickandmortar names any of them standing out to you . I like two of our favorite discounters ross stores and tj maxx. Now they both missed q1 estimates. Expectations are really low. But definitely Going Forward there is really strong momentum. If you look at the stock prices, cyclical companies, bringing this last leg of this recovery along with the lower names. I think ross has a little more potential on the price appreciation. P. J. X is safer, much stronger balance sheet. Both if you get them before wednesday have real potential to pop. Charles michael, we were talking about your optimism in this market. I want to point out you have a program, you call it the four pillars. I have a actually a three pillar approach, liquidity, rates, Economic Data and earnings. The Economic Data thats coming out i think is not getting enough attention. Overall it is overwhelmingly good. The Earnings Guidance has been overwhelmingly good. What you do think the Financial Media is missing . Because the numbers speak volumes where we could be going . Charles, i think unfortunately politics has infected everything and so what youre seeing now is the result of the trump administrations economic policies, okay . And the inability for him to get credit for it. They have fundamentally changed the way business is done in america. 2017 was the largest deregulatory event in the history of the country combined with the largest tax reform in the history of the country. The stepback, from this recession, greatest on record, is much faster than any other recession in history. Charles i know. It should be by no accident. I would say the only surprise that everyone is surprised. As long as data comes in better, liquidity stays there, stocks are going higher. Charles right. Let me bring up the oracle oraf omaha, jpmorgan, banks, buying barrick gold. Shah, i know you like the banks. Warren buffett sold all of his gold. He didnt have a lot. The financials are one of the three sectors down today. Are you still hanging in there with these banks . Yeah, still hanging in there for sure. The big decision right now is wells fargo. That is a contrarian play. I like bank of america. I really love Morgan Stanley also. I think you can buy them lower. They certain live can go lower into the third quarter. Wouldnt surprise me perhaps even see new lows but it is time to accumulate them. Next couple of quarters. Stuart certainly going through 2021, back hatch of 2021 these stocks will soar. Were in it for the long haul. Charles you need to call up warren buffett, talk to him about longterm investing. Shah, erin, michael, thank you very much. Well talk to you again real soon. Coming up at 2 45. Special guest sean hannity comes on to discuss liberal cities sinking into further chaos and violence. The dnc kicking off their convention tonight. President trump is on the democrats narrative that he is trying to sabotage the election. They say theyre manipulating the Postal Service. Fox newss liz peek has a few things to say about that. 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The stitch work is impeccable. Its just a double fleck pattern with a reverse garter stitch. No big deal. Is your hair this soft . Softer. Geico. Save an extra 15 when you switch by october 7th. Charles folks, its finally hear the First NationalPolitical Convention of 2020 kicks off today. It will look like no convention ever before, right . You have got four consecutive nights. Democrats will gather in front of screens in the first all Virtual Event of its kind. Hillary vaughn is live in presumptive nominee joe bidens hometown of wilmington, delaware with a preview. Reporter charles, this day one lineup goes as far as left as senator Bernie Sanders and as far as right as hearing from former republican Governor John Kasich for part of tonights lineup. The Democratic Party has tried to infuse progressive ideas for the Bernie Sanders supporters did not support Hillary Clinton in 2016. Some of sanders most progressives ideas, medicare for all, government provided job for everyone and were left out. Joe biden courted support from one of Bernie Sanderss biggest supporters, in a conversation from cardi b. She told biden and her fans and herself want to see some of sanders idea included in the agenda. Tell me what your fans most say to you when they communicate to you online . What are they most concerned about . Free college education. Free medicare. People dont want to pay the taxes for it. That is why this whole thing about governments bad has been such a, a downer for the things that really matter to you and me. Reporter today is supposed to be a show of unity between bernies base and biden but some delegates are planning a revolt. More than 360 delegates signed on to a pledge to vote against the Democratic Party platform if it does not include medicare for all. Strongly supporting Vice President biden and Kamala Harris as a ticket but i dont think in good conscience we can support a platform that doesnt have medicare for all. Reporter sanders made it clear yesterday that will pressure biden if he becomes president to follow through on his promise to adopt a more progressive agenda. Were expecting to hear a little bit of that pressuring happening to night when we hear from Bernie Sanders. Charles . Charles yeah. Of course aoc is in the lineup too later on in the week. Hillary, thank you very much. Joining me on the phone, Fox News Contributor liz peek. All right, liz, here we are, the convention is here. I know youre excited about it. You wrote a lot about it but you actually said this could help President Trump. How . Well, look, i think youre going to see [inaudible] on the left that are not particularly [inaudible] charles all right. Liz, lets do this. Liz, we cant make out a word youre saying. Well try to circle back and come back to you. Meantime, folks, another big story today is the Staggering Number of local and state governments theyre hoarding, they are sitting on top of billions of covid19 stimulus funds. What are they waiting for . Maybe the gop hardliners have been right all along . Maybe too much money sloshing around for government to spend trillions more. As joe biden prepares for the big primetime speech. Were digging. What the it will mean for the markets. Well be right back i need it so bad dont call it a hobby. Its way more than just a job. This is how we live every single day. Can we go and play . roaring of engines i needed to try needed to fall i needed your love im burning away i need never get old come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. Quadrupled their money by 2012 . And even now, many experts predict the next gold rush is just beginning. 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Liz, i will get right into it. The Dnc Convention kicks off this week. Bernie sanders and Michelle Obama featured speakers. Aoc will be there. A lot, the left will really probably flex their muscle this week, arent they . Yes, they are, charles, but theyre not happy even so and theyre not happy in particular that aoc, for example, only gets a 60second spot where as john kasich and Mike Bloomberg and other centrists are being given a lot more airtime. I think, i think the takeaway from the programing and the messaging here is, you know, they want to tell america that they can unify the country but reality is they cant even unify their own party and were seeing discord as was hillary vaughns message earlier from the left. People saying, yeah, yeah well come out to vote for the biden ticket, but guess what . Were not really happy with the platform. They will continue to push joe biden to the left. I think, i think this is worrisome for the Biden Campaign because awful lot of their supporters are moderates, particularly black voters tend to be moderate voters. They will lose some of those votes. Charles right. No, i think he listen, this was supposed to be the year that the democrats were going to have a young president ial candidate, perhaps a woman, perhaps a black or hispanic. They were going to do all the woke things. It looks decidedly unwoke. I want to talk about Speaker Nancy Pelosi calling the house back to session, they want to vote on a bill voting against postal changes. The postmaster general louie dejoy agreed to testify. T seems pretty overblown for the host office which has been in trouble for at least 20 years, which has had massive layoffs, we see this all the time but now all of sudden up front and central attempt by President Trump to steal the election . Yeah. This is not just another showdown, charles, it is another Conspiracy Theory like russiagate trying to create discord about an American Election that, guess what, democrats may not win but the more immediate issue is, theyre trying to pin on donald trump any problems that they have as they ramp up mailin voting. You know it. I know, but what most people dont know, that donald trump has absolutely nothing to do with the management of the usps. That is given to a separate board of governors a bipartisan board of governors, by the head was confirmed unanimously by the senate just last year. This is not a partisan issue. The post office is losing billions of dollars. It needs reform. They have someone in there who wants to make it more efficient and more, by the way more up to date and everything. Charles sure. But the democrats are trying to basically increase the amount of mail by 20 with mailin voting. It will be very difficult. Charles it will be very difficult. Al gore said tampering with the postal serVice President trump is in effect putting his knee on the effect of american democracy. That is the most despicable thing ive heard in a long time. Im tired of using George Floyds next in any cause, any reckless way in any kind of fashion. Tell me your thoughts biden sitting down with cardi b. Joe b, with cardi b but hasnt talked with traditional meade yaw. This was very friendly interview. I watched some of it. It seemed he was asking her as many questions as she was asking him. This is a way to curry favor with Younger Voters which they, as you point out, they dont really have a young candidate and that was something that they were concerned about, and have been concerned about. I thought it was a softball interview. He cannot sit before a questioning press. I think every democrat pulling that lever for joe biden has to wonder why. Charles i like to get joe bidens thoughts cardi bs last video. That is a different topic. Thanks, charles. Charles a shocking new investigation details how many local and state governments are hoarding money. The amounts will blow you away. According to the Associated Press and Kaiser Health news, only 25 of the 150 billion Coronavirus Relief funds have been spent. That was through july 30th. The biggest offenders, american society, south carolina, alabama, washington state, kansas, they have spent 1 or less. Joining me to discuss, senior fellow at the National Taxpayer union, mattie duppler. You and i had great conversations about it. We are focusing more on the 600dollar thing. Republicans say trillions of dollars spent, sent out, people are sitting on it, they do have a point, dont they . They certainly have a point and i think that senator Mitch Mcconnell was very clear on this point early on in the negotiations where he said, listen, of course there is a role for the federal government to play here, particularly since states did not have reserves on hand to address a pandemic of this scope, but, what he said were not going to use the federal government to bail out states that have for too long functioned as a factor of taxpayer largess and as a result, bankrupted their pension programs and other liabilities that are going to come down the pike. That seems to be a very clear red line. What democrats have done is said, no, we know states are bankrupt, all of them. Every single state bankrupt. Somehow democrats know this and rest of us dont have any information. Not only do they say that because states will be bankrupt as a result of covid we need to give them a trillion dollars over the next couple months, when even the most leftwing estimates of what covid is going to do to state budgets is half that over the next two years. So the real question here is, how bad are states, how bad are state budgets as a result of covid . The answer we really dont know. But it is nowhere near as bad as democrats are claiming. Charles of course in south dakota you have a state that says, hey, we dont need additional help for unemployment benefits. I want to ask you quickly about topic i heard about on friday. Californians may be getting a new wealth tax this is one for the record books. Apparently if you have over 30 million, you will hit with a. 4 of 1 wealth tax and raise the top rate from 17 to 13 . The kicker, you could leave the state for nine years, they still want their pound of flesh and they will come and get it. This is crazy stuff. What do you think about it. No tax idea is too crazy for california, charles. Amazing the state with the highest personal income tax rate saying that is not enough. We need a wealth tax. The problem for california this isnt like when countries try wealth tax which largely fail. 75 of the countries that tried a wealth tax have gotten rid of it because they cant administrate it. It is too difficult to enforce. If you live in california, hop over the border. You dont need a passport to make the move. Charles they know better. With this new law they will come to arizona to get their money, no matter where you go, they will get the money. It is nuts mattie, thank you very much. It will get challenged in court, charles. Charles all right. Hey, folks, well be right back. All right. And etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Charles just 78 days from the president ial election and many economists warn a joe biden win could spook investors. Jpmorgan says bidens 28 Corporate Tax would shave 5 1 2 off s p earnings next we are. Oxford economics warns that bidens 2 trilliondollar infrastructure plan could further weaken already weak lues dollar. Even a wall street Democrat Michael admits the stock market rally will end if biden wins. I want to bring in don luskin. It is good to see the articles, so we start to get some numbers, flesh out the impact of some of their proposals. Where is your thinking on this right now, about joe biden and impact to the economy and the stock market . Well those estimates you just gave are wildly optimistic. You know, sure, raising the Corporate Tax rate from 21 to 28 that would take five 1 2, 6 off s p 500 earnings that isnt all biden wants to do with the Corporate Tax code. He wants to make it harder for companies to do business outside of the United States to pay lower foreign tax rates. He wants to take away the in Kind Exchange privilege for real estate transactions f the lockdowns for covid havent already destroyed the Office Building market in the United States, try taking away in Kind Exchanges. There wont be anything left. He wants to put taxes on Companies Like amazon. Brilliant. Take one thing that is working in this economy and punish it. My calculation has it as a 12 hit to s p 500 earnings f that happens that is 12 hit to the s p 500 market cap, bang. Charles wow. Wow. Thats huge. We just played a sound bite of Vice President biden speaking with cardi b and, you know, he asked her what she was looking for, free college, medicare for all, those kind of things. He says well taxes will have to go up. Im glad you said 12 just on that. Realistically, considering the amount of muscle that the left has now, theyre not putting on display. I think theyre a little anxious about that ahead of the election. I would suspect 34 Corporate Tax rate would not be out of the question. You know the thing that you have to remember, when you raise the Corporate Tax rate, lets say you raise it even to just 2 . It is 21 now. When you go from 21 to 28 that is 33 increase in the tax rate. That means any new innovation of people have to invest capital for the future will have a higher hurdle rate t will show less profit in the future at a 33 higher tax rate. So who is going to make any Capital Expenditures . Who will invest in innovation . Whats at the margin . Geniuses like elon musk not going to do because of this higher tax rate if well never know but i guarranty you it will be a poorer world if you stop innovation. Charles speaking of poor, we had a great discussion on friday and i want to continue it with some guests including you. The difference between being rich and being wealthy. A lot of our viewers chimed in on twitter. I want your thoughts on the distinctions between the two. I think one of the reasons why people have this sort of internal dislike and hatred even for rich people is that the caricature of a rich person is someone who make as little pile of gold and just steps contributing, stops learning, stops earning, sits there guarding the little nest of gold. The truly wealthy person, steve jobs or elon musk, for them wealth, it is not riches it is wealth. It is a journey of adventure and risktaking. Look at guy like elon musk does, he continuously risks it over and over and over because he has the joy of creating and his riches just give him the resources to create wealth and guess who gets most of the wealth that people like steve jobs and elon musk create . We all do. And by the way, i think that is a uniquely american trait. Charles not scrooge mcduck, folks with real coattails benefiting society at large. Where are you now, don . I think youre more on the wealthy than rich side. That im saying . Hey, man i am in dallas, thats where i am. You talk charles the big d. Hey, you talked before the break about that wealth tax in california. We have, i moved from california less than 10 years ago. So theyre going to reach out for me. Like we say in texas, come and get it. Charles don luskin, thank you very much. Thank you. Charles folks, we are in the age of do it yourself, right . Millenials want to take control of their lives. Genz taking control of their own destiny. They all want to get rich and greater role of getting rich. The day of handing over checks to money managers, be happy with 5 . That is not appealing to them. Guess what . We want to help them. Message fox business. Go to facebook or instagram. Email us questions for investedinyou foxbusiness. Com. We got a special coming up. It is all about do it yourself, earning and making your own wealth. Meanwhile after years of being dismissed is bitcoin ready to go full mainstream . More violence erupting in portland overnight. A driver reportedly pulled from his truck and beaten by a mob. It is a horrific scene. How close are the cities to the Tipping Point . I will ask fox news host sean hannity. He is next. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Charles new chilling video coming out of portland a driver of a crashed pickup truck being brutally attacked by a mop of made up of black lives matter protesters and antifa members. No arrests have been made just yet. New york city, endured violent week, involving over 50 victims. Fox news host sean hannity, his new book, live free or die, america and world on the brink. Debuted number one on the New York Times ses beller list. Thank you. Charles just, youve been warning, and you, youve been talking about this kind of stuff for so long, how amazing is it to you that these major cities are actually regressing, rapidly regressing to a place of violence and danger like they are . I can even make it worse than that because you have a president ial candidate in joe biden said, the police, they have become the enemy and Kamala Harris praising, for example, the lapd, their massive, 150 milliondollar budget cuts, a billion cut in new york. You know just freeze frame one thing here, charles. I dont care if it is minneapolis, i dont care if its new york, i dont care if its chicago, seattle, portland. What is the portland now. We saw events this weekend and in new york. L. A. , san francisco, new york, they have one thing in common, run by liberal democrats for decades. This is the position of new extreme radical, Democrat Socialist Party i look those cities preview of coming attractions. Why i say on the brink because these are now the stated policies. Look, charles, i, i will never hold a candle to you when it comes to your knowledge of investing and the stock market, et cetera. Youre great at all of this but ill tell you this, what has government done right . Is government doing a good job in their number one responsiblity, safety, security . I would give them an f. How are they doing in education of our kids . I would give them a bigger f. Same thing, liberal cities run by liberal democrats for decades. Blue states, run by liberal democrats for decades. How did the obama promises work out, charles . They didnt work out well. Well defund the police. Well get rid of oil and gas, the lifeblood of the World Economy as you often report. Then well offer everything for free to every americaning cradle to grave to the tomb. You dont need a harvard or m. I. T. Degree, charles payne, those numbers will not add up. That is not going to work. Everywhere it has been tried, whatever name, whatever form it has taken, mao revolution, bolsheviks, venezuela, cuba, tell me where socialism works . Because those are the stated policies of the Democratic Party. Charles sean, why the appeal . You have not written a book in 10 years. You saw this coming. Youre sounding the alarm. Why the appeal new york city was doing so well, portland was doing so well, if seattle was doing so well, why are they regressing and why are so many people allowing this to happen . I wish i knew the answer. What have we always said . If you dont learn the lessons of history you are doomed to repeat it. Okay. What is government doing so well that now well double down on more government . Look, charles, the number one job, local, elected officials is to keep the citizens safe. We lose a beautiful, oneyearold little boy in new york. He is in a park. He is in a stroller. Lawrence jones on my show interviewed the father and the grandmother. We lose a beautiful 8yearold girl in the chop chaz zone in atlanta. Lawrence interviewed the family, 7yearold girl. Beautiful girl in chicago died in grandmas backyard on fourth of july weekend. I interviewed, Lawrence Lorenzo anderson and his son was killed in the seattle chop zone. It makes no sense to believe they will get other things right. If they cant educate our kid, if they cant, obamacare promises everyone broken, nothing fulfilled at all. How is Social Security and medicare doing, charles . You know the economy as good as anybody. Charles right. So they squander the lockbox money. Charles yeah. There is nothing but cobwebs in the lockbox. Right. Charles the polls tell us one thing, the president and vocal supporters tells something very different. Are you optimistic about the silent majority, people intimidated by pollsters but probably will vote for President Trump . Great question. Cato institute had a ditch. They suggested 62 of the Trump Supporters are never going to tell a pollster who they are going to vote for. Now we see all the back and forth over voting. The same government that cant keep you safe and secure well trust them with mailin ballots and they will change the system 78 days before the election . I dont think that will end well for anybody or be fair to the american people. You know, im looking at everything that is just sort of evolving, charles and i will just tell you that at the end of the day it is going to be the biggest choice election in our lifetime and the stakes couldnt be higher for our kids, our grandkids, for you, for me and charles right. You know, i watch what you do every day and i look at the reports, why do you think the stock market is reacting the way it is . I think they think trump is going to win. Ill tell you this, if you look at the Cato Institute study did, you look where people are in the polls, i think there is one thing we cannot factor in, that is Trump Supporters, i argue, he hasnt lost any since 2016. What is joe biden offering that is going to inspire people to vote for him . What is Kamala Harris . What is her track record . She is to the left of bolshevik bernie. Bolshevik Bernie Sanders used to be an outlier, on the fringes, barely tolerated by the Democratic Party. They started squeezing out the Joe Liebermans of the party. This is what were left with, hardcore leftism, socialism, statism, redistributionism, whatever form you want to call it, always ends the same way. Loss of freedom, broken promises and worse. Charles well, and Bernie Sanders kicks off the dnc tonight. I got to tell you my answer to your question i do believe the market believes President Trump will be reelected. I agree. Charles that is the message from the market. A lot of other things are working out but this book could not have been more perfectly timed. Thank you, charles. Charles live free or die. Sean hannity, thanks so much for writing it. Thank you so much for writing on the show. Charles, god bless you. Congrats on all your success. 78 days it matters this time. All hands on deck. Charles a wall street veteran making a bullish prediction about bitcoins popularity after labor day. After years in the shadows is the cryptocurrency going mainstream. I will ask advisor tom lee. Hes next and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. I was blessed to be part of building one of the greatest game shows in history. During that time, we handed out millions of dollars to thousands of contestants. And i thought, what if we paid the contestants their winnings in gold instead of cash and prizes . Back in 1976, we had a wonderful contestant named lee whose threeday winnings were valued at 12,850,. Had put 12,850 in cash and then put 12,850 in gold in a safe, just sitting there sidebyside from 1976 until now . Well, i went back and i ran the numbers, and what i found was amazing. We all know that 12,850 in cash would still be sitting there, but it would be worth a whole lot less than it was in 1976. But that 12,850 in gold, safely stored away, its worth 135,000 as of the taping of this commercial. Now, thats more than 10 times the original amount. And thats why ive been putting my money in Precious Metals for years, and i dont see any reason to stop now. 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Feel the joy of movement with voltaren. They will, but with accident forgiveness allstate wont raise your rates just because of an accident. Cut is that good . No you were talking about allstate and. I just. When i. Accident forgiveness from allstate. Click or call for a quote today. Charles well dont look now but bitcoin is beginning to sizzle. It was only a couple of weeks ago and we were talking about the cryptocurrency getting back above 10,000 so now it looks like it could have a potential monster breakout through 12, 575 and unlike those past rall ies each day theres another source of credibility. Last week wall street led that bitcoin is real and micro strategy, of Business Intelligence software they want to step further and they bought 250 million worth and we know the bandwagon can fill up quickly so lets ask the man who was a bull on this before everyone else on wall street when in fact most on on the street thought cryptocurrency was a joke. Tom, millennials have always been drawn to bitcoin, but before we talk about this whole new audience, how are you feeling overall because it seems like it comes out of left field, built up this amazing amount of, i dont know, upside mobility and then everyone jumps on a bandwagon all over again. Yeah, thats how markets operate. Theres always more interest when a trend is established, and i think in most peoples mind, a trend is confirmed when, you know, you break to a new type of high, so so i think bitcoin here at 12,000 as it approaches some of the highs from 2019 is probably going to see a lot more interest and a lot more buying. Thats generally a virtue us sort of selfreinforcing circle and i think this time, its sort of rounded in a lot of macro things. Charles well, talk to us about some of these macro things. I know that over the last couple o of years there have been periods where people compared bitcoin to gold in terms of store value, a safe haven of sorts. It has gained a lot more credibility for lack of a different word, or you know, by folks who may have brusselled at the thought of even owning bitcoin a few years ago. Yeah, i think the coin has been very popular outside the u. S. Because its been a great way to move money, to do remittances and theres so many people who arent banked so its a great way to store value. I think in the u. S. , its sort of faced a higher bar because as you mentioned theres already a lot of gold on our ship which is mainly baby boomers earning gold and i think in the u. S. , the Banking System kind of works well for a lot of wealthy people so i think they didnt see the appeal but in 2020 i think with coronavirus, you know , the fears of how were sort of printing so much money, and the fed is so accommodating, i think its gotten people concerned that even hedging with just some gold and some art isnt enough so its really re ignited an interest in bitcoin , authentically. Charles all right is that interest going to be enough to take it back to the alltime highs in relative short order, or do other things have to continue to evolve . Well i think the good news is it does look like the echosystem for crypto is really strengthening. Etherium which i think is an important Cryptocurrency Network is actually surging so i think its confirming, theres real money buying cryptocurrency including bitcoin. I think the election is going to be quite interesting because in order to really, if we do mail mailin ballots using the postal system, its going to require some way for people to verify their sort of identity and i think the post office is going to ultimately probably turn to blockchain, so itll be interesting but i think if we do and thats a big if, if we do go beyond voting its going to validate crypto. Charles just moments ago zero hedge posted an article about the Postal Service going for a patent on a Blockchain Verification system so youre spot on again, and just less than a minute, just i want to get your thoughts on this market if the s p breaks out, do you see new highs there, sort of along the same theme of greater interest . Oh, yeah. You know, i know the stock market is really controversial because its rallying and its almost a new hyatt a time when were still in a depression, but the reason its done well is 75 of the stock market isnt that economically sensitive. Its really Growth Stocks that are bond properties, and so i think as we hit new highs, we raised our target last week to 3,525, so i think the s p still has a lot of room to run. Charles all right tom youve been spot on about so many things. I appreciate you taking the time in the meantime, im going to hand it off to cheryl casone, whose in for liz claman. Cheryl . Sort of a typical summer day, but that s p is within striking distance. Cheryl look at what the nasdac is doing right now here i was thinking i was going to talk up the s p for now or go nasdac, charles thank you very much. Ill take it from here so the s p and the nasdac are really flirting right now with new record highs as we go into the last hour of the session this monday and were jumping into high gear as the election now is kicking off this week with the conventions and also breaking this hour, President Trump taking the fight right to the backyard of the dnc as night one of the virtual historic Convention Kicks off in just six hours and the president just moments ago began t