To settle claims that it breached the privacy of thousands of its own customers in 23 states to take medications by sending out mailings that clearly displayed their medical conditions another record breaking day on Wall Street strong bank earnings this morning from Goldman Sachs and Bank of America helped fuel a massive rally the Dow shot up 322 points closing above 26000 for the 1st time ever the Nasdaq up 74 both of course at new record highs now because of that new corporate tax cut law Apple says it's bringing back hundreds of billions in profits and cash being held overseas that will play Uncle Sam $38000000000.00 in taxes it's also plans to build a new u.s. Headquarters and add $20000.00 new jobs over the next 5 years and the Dallas Mavericks will allow fans to buy tickets using big coin next year c.n. 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Abusing the following program are not necessarily those of this station it's their stand for management the following program is paid for by the American. Let's go girls. Welcome to. The us like. Russia was. My 1st. Concert this is. A successful. Now let's hear what Tashan in the local and national politics. Checks. A welcome to the American Somali vote you can Munson and Ken Munson on the other gal Molly the yes you are yes and I We hope you are ahead of the reading that we hope you're having a wonderful Wednesday and we are the America out our website America except com And that's where we are on Twitter and Facebook as well and in the spirit of Nancy Drew we are sluice for truth turning over every rock just to make sure we can find the truth you might even say turning over every channel and every internet site and every news source in order to find the truth because there are so many people trying to hide the truth but once you find it it feels real good and so we search for it we are slaves for truth and we dissect issues is right versus wrong instead of right versus left in Mali you know people kind of look at us when we say that what does that mean but we really think that opportunity prosperity thriving for the individual is really what what is the right thing and as the like touch of government is a good thing as well so it's a right versus wrong instead right versus left and then we are lobbies for the little guy now that the legislature is in session we are already watching what's going on. And there yet here at the state at the state capitol the legislature session just started and so starting today and now every Wednesday from here on while we're in session we'll have the chairman of the Colorado Republican Business Coalition Susan are joining us and I had meant that I serve on that on the board as well and we look at legislation that comes down the pike every week and say what is actually going to apply to our affect small business owners because we know that those are the people who really fuel the economy. But the entire United States so we pull out these issues and say you know is this going to help or hurt business owners and job creators because you know in the long run that helps or hurts employees so that's a big deal so we're going to watch that today and of course we're always watching what's going on at the federal level as well. And then 2nd and 3rd segment we're going to have Lawrence White with us he is an expert on currencies He's with the Cato Institute and we're going to talk about Bitcoin and all these crypto currencies I think it's going to be really fascinating because everybody's wondering about it what are they exactly I remember the 1st time I heard about it was probably you know 4 or 5 years ago and it has been a big queen has been on a meteoric rise and it's very volatile so that's going to be major interesting and a big big rise but it's also fallen more than 50 percent or less in the last 2 months actually today there's an article in Bloomberg Markets This is did Bitcoin just burst and how does it compare to history's big bubbles so I'm excited to talk to him about that because it seems to be doing the opposite of what the Dow is doing the Dow Jones My God we just hit another 1000 point record high today we closed above 26000 for the 1st time ever ever ever ever and this is just crazy it was just 13 days ago I believe that we had a record 25000 for the 1st time our now we're at 26000 the Dow just keeps going up up up up up and cam you know when this happens you and I both came from the financial side and we know that people need to diversify and so when the market keeps going up we want to make. Sure that you're not putting all your money in in just stocks or just the things that are going up you want to if you can divide I sell high and definitely diversify so let's talk to him about what bitcoin means that's exciting to me you know people have talked about comparing it to you know using that instead of gold and I'm really curious how do you do that with the digital currency versus something that's tangible that you can hold in your hand and so can you just real quick on the market though because the Dow closed above 26000 for the 1st time I was looking at other information today and c. And b. C. Says that stock market optimism has hit the highest in nearly 32 years and that bullishness among professional investors is 66.7 percent that's the highest it's been since 1986 and so I just I thought it's fun to watch the news and I'm like wow it's like our politicians media nobody saying the sky is falling the sky is falling and you know cutting regulations and cutting taxes is going to really hurt hard working individuals but I tell you what to me I don't see that pain coming any time soon we've talked in the past couple weeks about all of the different organizations who said now that I'm getting a big tax reform big but tax back in my money as a corporation I'm going to give bonuses and give more money to my employees Well we've been wondering what about repatriating money from other countries because they lowered the corporate tax rate and some people like that can get the c.b.l. Said that's not going to happen then we're going to take that into account as far as think you're going to have higher tax revenues because the lower taxes but today Apple just announce they're going to repatriate back into America $350000000000.00 into the u.s. Economy because of this lower taxes for corporate for corporations and so now they're going to create 20000 new jobs they're going to open a new campus and they're going to pay $38000000000.00 in. That's his suite extra bonus going to the federal government the apple is going to pay of course based on what we pay them for the products they offer but that means less money that has to come out of our pockets cam that's more money for you and me I'm really excited about this market Well yeah and the reason they're doing that is because that equates to 15 percent of their 252300000000 offshore cash pile and in the past have been a 35 percent corporate tax rate so it's very favorable for them to do this and like you say instead of having 0 there's going to the us governments can have 38000000000 big difference yeah yeah and so like we said we're going to talk in the 4th segment about state legislative issues but since the federal government has figured out how to lower taxes and put more money in our pockets I think our state should try to figure that out as well I know we're going to get through this but there are some issues we'll talk about in the 4th segment you just teasing that. That the our government here wants to force employers to spend more money on certain things and keep in mind an employer is forced to spend more money on something say labor for instance that has less money in the employee's pocket is a 1000000 times less jobs take the lesson from the federal government with how often can I say that. But right now I can well yes and they continue to go after President Trump Jeff Flake apparently was in the well of the at the Capitol and he's a senator from Arizona just going after Trump actually comparing him to some of the worst dictators out there and. You know sometimes we've talked about it politicians whether or not it's at the local level always all the way up to the federal level I think Jeff Flake out as a feelings hurt and so he just is kind of cranky knees acting like an 8th grade girl as 6 and stones may break my bones but words will never hurt me I don't know maybe politicians have to think then a scan maybe they need to do. Get another job doing something different. But you're right in there so there are people on the right in the left attacking Trump left and right and no pun intended and you know what he was a Democrat in the beginning and then he ran on the Republican ticket I don't really consider him either I don't think it's a partisan deal for President Trump I I really think he's a businessman who understands how big government and big business need each other and thrive off each other and they have these little games they play with each other and if you're not a part of the political elite the political elite then you get hurt and so he is making it the his biggest putting forward his biggest effort to make sure that little guys and gals like us actually have an opportunity to just less regulations . Yeah you know they say that he's always had a real appreciation for the working man or working woman even on his job sites you know he actually likes talking to people that are are working that working with their hands building these construction pro projects and so I think he really does care about every day Americans which is going to segue into the other thing we were talking about before we went on air and it you just seem very perplexed about this whole immigration thing possibly the Democrats standing in the way of getting our finances in order and instead wanting to go ahead and go to another continuing resolution or possibly shut down the government Yeah I just don't understand that you know that Dak a deadline that's not until March but what we need to get our budget passed by the end of this week and for some reason the Democrats Schumer employers your time those together and that a doesn't make sense to me because we need one done right now because it says of the federal government closes its doors and I'm just looking at what I wrote what I read about what happened in 2013 when they forced to go. Shutdown it close the doors on the government for 16 days 800000 federal workers were deemed that were deemed non-essential or furloughed without payment and an additional $1300000.00 government employees including active duty military personnel in civilians had to work without pay now many of those did get some retroactive payments but there's not a legal guarantee that those guys are going to are going to receive payment for their work and effective in case of a government shutdown so why would you shut it down don't you think that our police our military is served to be paid for what they're doing and then also when it comes to irresponsible it is irresponsible but when it comes to Dhaka I think what we're trying to what President Trump and what Congress is most of Congress is trying to do is say rather then former President Obama's executive order that was just kind of a year by year deal it wasn't legislation it wasn't law these these kids that were here brought here illegally had no guarantee for the future this was like every couple years or so they could have been sent out a temporary thing as a temporary fix one up to something in the legislation that gives them a future an opportunity maybe a snob or to need to citizenship maybe it's some sort of a a green card I don't know but but for some reason Schumer and close don't want to tie that to the need for border security why wouldn't we want more border security we're talking about all of the drugs that have been coming over our borders you've got illegals that are bringing there Judy sexuality and human trafficking that was just they just arrested in Denver here within the last I don't know 2448 hours I think 5 of the 6 people that they arrested were here illegally and some of them have been deported before and so your point is well taken Yeah so want to do your job government your job is to protect we the people that's it that's your job not to play partisan politics back and forth just protect the people in the Get Out The Way go back home and do what you need to do to be with your families in an hour. You know I have a business and and give somebody a job for taking from everybody else this is the American small and can what is Bit Coin what is cyber currency stick with us we'll be right back. Ok v.m.d. Denver's money dark $1690.00 a if you're a veteran looking to purchase a home choose the local experts Jim starch and Mark cook at home mortgage Alliance v.a. Loans offer qualifying veterans the option to buy without a downpayment and since these loans are government insured limited close and Active Duty Military Reserves National Guard retired military and surviving spouses may qualify if Kim stirs or Mark cook at home mortgage Alliance a call today at 303-888-2732 or check them out on the American referral list at a marriage chick's dot com. Sees an approved f.h.a. 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Sure and services Jeremy McCallum and his alliance insurance services team work with a variety of insurance companies competing for your business Jeremy in the alliance insurance services team helps you find the right insurance at the right price say no you'll sleep better at night knowing Alliance Insurance Services is handling all of your insurance needs give them a call today at 303-431-9351 that's 303-431-9351 be sure to tell them the American accent you feel never a chick's Molly and Jim telling Katie Mt Denver's money Tuck 1690 am. I get this Hey welcome back to the America it small you vote you can months and I'm Can months in a Molly vote and be sure and check out our website Amir checks dot com All of our shows are archived there and there's all kinds of great information super show today we have Lawrence White who is with the Cato Institute Center for monetary and financial alternatives he's also an economics professor at George Mason University so he knows a thing or 2 about the economy about currencies and we wanted to talk to him about big coins so Lawrence White welcome to the American voting commence and I am pleased to be here so we wanted to talk with you Lawrence at bout bit coin I remember hearing about it I don't know 5 or 6 years ago possibly and I'm thinking I don't know is that something that really is going to take hold and and there seems to be some real interest in that we saw that Peter Thiel out in the Silicon Valley just recently put a big bet on pick points so I guess the 1st thing is why don't we have just a very simple primmer on what is. A bit corny is a what they call a crypto currency meaning it's entirely electronic there's no physical manifestation of it but unlike an electronic bank deposit it's not a claim to some underlying money there's nothing for it but money itself. And what's novel about it is that you can transfer to another party through the Internet maybe a stranger you've never met without using any financial institutions because peer to peer. You don't need to hold it with any bank or exchange or any kind of institution. Although a lot of people who do hold it hold it with exchanges because it's more convenient . So it's a way it's a way to pay people without relying on gold or on the Federal Reserve So it's really been in a meteoric rise so people could buy Bitcoin several years ago what where did it start out at what was the price Well it started out the 1st recorded transaction was 10000 bitcoins for 2 people or so a fraction of a penny really. Early on it reached $1.00 and then it kept going through milestone after milestone. Today it's above 10000. What what what how do you get the value of what creates the value like I would think supply and demand but I don't really know where where the supply even comes from well it is it is kind of a puzzle and a lot of economists have had a hard time wrapping their heads around it because as I said it's not a claim to anything right and when we see the money that is not a claim to anything just like the us dollar is not a claim to any underlying asset true we tend to think oh well it's because the law says you can pay your debts with it or you can pay your taxes with it but Bitcoin doesn't even have that going for. What it does have going for it is and this kind of solve the problem of loading a private money that's not a claim to gold or silver. Is a program that anybody can observe that limits the number of units a calling that will ever be issued so the supply is preprogrammed there's no worry about somebody hijacking the calling and they're selling lots and lots of bitcoins until their value goes to 0 that can't happen but not every but not every crypto currency is worth something some people have said there's no use in that and the value is going to 0 but people are convinced that Bitcoin has some value usefulness as a payment mechanism and that in the future there will be lots of transactions and Bitcoin there are some transactions even now but people are anticipating uses in the future and not just for Bitcoin but for the computing crypto currency which actually over the last year grown even pastor and in particular ripple into Syria like my real quick. Because there's no financial institution that needs to be utilized to transfer the Bitcoins back and forth to hold the money when you 1st invest well if you buy Bitcoin on an exchange then you're buying it through somebody else who owns it and now you're on that but once you own it you can pay things without going back through the exchange. You don't have to go through an exchange to buy it you can buy it from an individual who holds it directly it's a little harder to find that there are groups called local bitcoin that will arrange those sorts of things but the easiest thing to do is to buy it on an exchange Ok And it's entirely electronic So like if you lost your password or something that would be not good. That would be not good. For try to estimate what percent of all the Bitcoins have been lost. And it may be as much as 5 percent and then also say our power grid went out or we had some sort of a cyber attack mean could a cyber attack take your bitcoins away. It would if it knocked out the Internet then it would take away your ability to transfer them if you have them in cold storage as it's called so if you have them all who line. Memories or actually you can print them out on a piece of paper. The code that you need to transfer them then you will have them when the unit goes back up but you'd be frozen out of using the. Course banks would be frozen out of. Transferring money from the bank account to warrants why with the Cato Institute What do you think about these crypto currency such as coin What's your opinion of it well I think it's it's amazing breakthrough how useful it will turn out to be will have to wait and see. As you mentioned there are people like Peter keel and other venture capitalists who are investing a lot of money in it and people who are making it easier to spend making it easier for merchants to accept who are building an infrastructure around it was easy on ramps and off ramps so a lot of people are trying to make sure there is a future use a bit going. And we'll have to wait and see whether they were overly optimistic Well it's it's been an amazing rise so from a dollar to over $10000.00 you got as high as over $13000.00 didn't. Even higher but it's backed off in the last few weeks so it's highly volatile it's not for the Phoenix are highly volatile it's more volatile than government currency and it's more volatile than gold Ok so it's it's not the sort of thing you want to put your life saving into maybe some percentage but not the whole Sobrang right and you don't want to you don't want to have your rent money sitting there because that drops 20 percent in a day then you can pay your rent. Right but you know for some people as a portion of their portfolio in P.T.O.'s invested I mean it's just a portion of it I mean he's a rich guy so it's a significant amount but it's not his whole portfolio either I'm sure you. Learned what you mentioned gold so let's talk about that you have an article I noticed on an Cato how a bit coin system is like and unlike the gold standard do you mind breaking that down for. Her So a lot of people compare the 2 and there are a couple of similarities. One if you just think about it as an investment vehicle you can speculate in gold or you can speculate in the calling so there may be some competition between them but if you think about it as a payment system as a monetary system what they have in common is one they're not controlled by government so the there's no worry about a central bank inflating away the value of gold or the value of the coin. And secondly there is a limitation on the quantity from other forces in the case of the gold standard from the fact that it's a rare. Element has to be dug up from the ground which is expensive and that limits the rate at which the quantity of gold in the economy grows in the case of big calling it's in the program that generates the calling the stock of Bitcoin units is going to grow at a rate that's already fixed so that if there's more demand for Bitcoin. The price goes up quantity doesn't increase to take advantage of that the quantity is already pre-determined and in my article I emphasize it gives it more volatility than the gold standard does. On a day to day basis the quantity of gold doesn't change much from the output of mines but if you're talking over 10 year 20 year 30 year stretches then a high price of gold gets the gold mines digging a little deeper putting out more gold and that'll bring the value of gold back down and if the value of gold is depressed the mines won't dig up as much and that slow growth in the quantity of gold will bring the value back up so gold has this character of coming back to trend whereas with bitcoin there's nothing about sort it's all entirely depends on the variations in demand so the price goes up and down as people get more or less optimistic about the future of Bitcoin so if what I'm hearing warrants Wightwick the Cato Institute is that Bitcoin really there's a couple of different things with that and some people are are you know investing speculating in it because there is a finite supply and so they are speculating or investing in it and then there's also the other side of it and using it as a currency so those are really the 2 things that are going on with Bitcoin would you say. Well that's right and there's a 3rd playing words the competitors like the theory and the size which is the mechanism of our dating payments known as the block swing can also be yours for other purposes you can put other things on the block chain and they're out there as a public record that can't be sung by somebody. So they talk about putting smart contracts on the block and that can be done to some extent with that calling but to a greater extent with some of the newer cryptocurrency. That is another term that I think I need to have you explained to me I heard a number of young people talk about the block chain but I haven't really I don't really totally understand that so let's start on that we're going to be going to break here in just a moment so. Perhaps a you know why don't we go ahead and start with that does definition of block change start to explain that we'll get a break and then come back and finish that with Lawrence white folks some of the blocks on us the blocking of the ledger system so records all the transactions and the transactions are processed in a group that's called a block and then a new block is added to the song about a block so it's a block so you think of it being hooked on that this record of all transactions that have ever been made calling it longer and longer as we go along and all that information is not centralized it's stored on the thousands of computers that precludes a paid in payment validation system the so-called minors a because that is absolutely fascinating so that I guess the next question is security as Molly mentioned what's the chances of this being hacked I mean is there real danger in that. Quine I think has a pretty good record for not being. But the strongest where people keep their money that's a problem so they're. Trusting a 3rd party to hold your big one for you that's a security hole. If you really want to be secure you have to hold it yourself and then of course where other people can't discover it and where you don't lose your care or. Where is that pass right by sticking a stick on your computer this is the marriage it's Molly and Camus Denver's money talk radio we're going to talk about all kinds of money even the newer kinds that has been around for 9 years or so but but I am in on an old dog learning new tricks stick with us when we come back more on Bitcoin and other issues with Lawrence Wright he's with the Cato Institute stick with us we'll be right back. I'm Tom Busby c n.b.c. Doubt 26000 it's real and it happened today just 8 trading days after topping the 25000 mark Wall Street's best known stock index reach that milestone today following a rosy assessment of the u.s. Economy from the Fed and more strong bank earnings the Dow today surging 322 points higher than as they go up 74 all the major averages now sit at new record highs thanks to the new corporate tax cut laws Apple says it will build a 2nd u.s. Campus hire another $20000.00 workers over the next 5 years part of what it calls a $350000000000.00 commitment to the u.s. Economy meantime u.s. Industrial production in December shot to a 7 year high homebuilder sentiment edging a little lower but it's coming off an 18 year high in December and former Today show anger Katie Kirk is returning to n.b.c. . Dirty Clete juice boxes that's like a carpet that resists. That's life only from the Home Depot it has advanced technology to resist whatever life throws at it for years to guarantee the price that covers any budget beautifully visit Home Depot dot com slash life proved to learn more physical store to schedule a measure today. For saving more doing. That great World War 2 story to share e-mail as an American dot com That's the American dot com. If you're a veteran looking to purchase a home choose the local experts can starts and more cook at home mortgage Alliance loans offer qualifying veterans the option to buy without a down payment and since these loans are government insured limited closing fees Active Duty Military Reserves National Guard retired military and surviving spouses may qualify if you're Mark cook at home mortgage Alliance a call today at 303882732 check them out on the American Express. The thought of winter coming. Be chilling kneedeep snow face numbing winds frozen fingers temperatures below 0 and yet without a door last car battery it could be even worse. That's why girl asked batteries are tested to perform in harsh conditions so even if it's 40 below 0 your car can start up like that 72 percent Dura last proven tough in only at Autozone America's number one battery destination. Carl is a dog trainer Ok see a lawyer that is personal time calls a personal trainer one too good Carl knows how to get results but when it comes to mortgages he's less confident guilty as charged Fortunately there's rocket mortgage by Quicken Loans It's simple so he can understand the details and know he's getting the right mortgage rocket mortgage buy Quicken Loans apply simply understand fully mortgage confidently go to rocket mortgage dot com today because I'm under license in all 50 states and less internet to start working with 3030 bents that centennial dot events in 2018 Let's are sure in a conservative revolution in Colorado we now return to the marriage effects Molly and kid and Katie m.t.v. There's nothing to see. Here you can Munson we are since the truth dissecting issues is right versus wrong sit or right versus left and we are lobbyist for the little guy and we're on different money talk we are talking about money about currencies and we are very pleased to have Lawrence White who is a senior fellow at the Cato Institute Center for monetary and financial alternatives and the professor of economics at George Mason University with us I tell you this is interesting for us Lawrence White but it's complicated and I have talked to a number of young people that are really excited about this whole big queen thing and it's taken me a while to try to get my brain around this and one of the things that we were talking about during break is that government may not like big coin very much there are different governments saying that they're going to and maybe regulate them so let's talk a little bit about Bitcoin and government. You're right the federal government doesn't like competition. Produce producing Federal Reserve Notes as one of its more profitable lines of business and I think it's the only one that makes a profit. And they have they are really good at printing money you know we don't we don't think the government does very very many things very well and they do that a lot and it only takes $0.06 to produce $100.00 bills so it's $99.94 or whatever. They have down some alternative payment systems that before the days of the calling system called ego. And they shut down a guy who was doing his own silver coins and they've already required currency exchanges to register with the. Crimes of course network as what they call money service businesses which means they have to follow pretty much the same rules as banks in knowing their customers and reporting on them so you can't open an account calling those. Anonymously might have been possible to open to some exchanges in the early days. Anonymously but that's not allowed or. At least not for u.s. Customers and it seems like a restricted her they're waiting to see Ok Now one of the things that I had heard when in essence you could be anonymous in investing or buying these crypto currencies is that it could be a place where illegal money like drug money that that might be a place that they would go what your thoughts about that are well the biggest. It's. Medium of exchange for God of course cash. Yeah it could potentially be used. For drug receipts. I think. The best way to limit the role of anonymous payment mechanisms and the drug trade would be to legalize the clog. As you've done to some extent in Colorado. Although you may know that curiously the Federal Reserve system doesn't allow. Dealers in Colorado to have bank accounts rain actually force and forces them to use cash and there have been people trying to market cryptocurrency to the pot dealers but hasn't really taken off in any way. Came. Now looking at your bio you have an economics degree from Harvard College and a Ph d. In economics from the University of California Los Angeles so I mean you really need to have studied these currencies significantly and you know I know that I've heard a lot if like a lot of young people a lot a lot of libertarians are very excited about Bitcoin and you know so explain that a bit why why that is so attractive to a Libertarian Well when I talk a bit coin conferences I like to say I've been studying private nonstate monies since before there was good coffee. Before it was cool hot before it was poor Yes I've been waiting a long time for my research to become relevant so it's pretty exciting and it's definitely but what the attraction especially for young libertarians is that it's a state most kind of money it's very decentralized it's there's no choke point that government has hold. And yet it's. Doesn't rely on trusting someone who may be out to run a Ponzi scheme because Bitcoin is not run by any community of people it's run by a program and the technology of this is pretty amazing. When the basic problem it solved was how to transact with strangers. In a way that there's a permanent record of the transfer value being made so it can't be denied later on and that's what the blocking provides sort of the needle record of the transaction you know it's been received so do they reconcile the amount of bitcoin to somebody reconcile it every day because there's a finite amount how does that work several times a day now part of the problem because it's been happening in the last year with one that seems as there is so popular that the validation system has become congested so at its peak that points validate transactions and. In 10 minutes but lately it's been taking a day a day in the hand and to get to the front of the To Do you have to pay a transaction system. And so it's kind of been a victim of its own success it was never designed to be an all purpose payment system it was designed for specific kinds of transactions which are not person to person in which you don't have an ongoing trust in the person you're transacting with. A pressure point popularity now where it's not really useful to buy coffee at Starbucks will. It takes too long for the current us to our door and there's a theory that probably exceeds the price of the coffee that was bought so you can't use Yeah you know want to come back and pay for your coffee the next day so that that will be. That will be it was a big debate in the current unity about whether to enlarge the size of the blocks in order to. Process 25 and faster and you know now that the current split in the 2 groups those who wanted a bigger bloc that's now called the current Cas and those who stuck with the rich numbers on the coin with no additional advocates of more Ok Now Lawrence might it can I'm sure you're not really giving. Investment advice or speculate advice or register. But. That what if somebody did want to get into the big coin arena what would they do exactly how how can that happen how could they invest in it because in a lot of people might I want to put $10000.00 and buy one Bitcoin so can you buy a fractions of a coin certainly you can buy as many dollars worth as you want to it's infinitely subdue the whole it's not a problem. So you can open an account at an exchange that holds your. Code your your key allows you to transfer the work on Who are you. Or could be more secure in a service like airports which enables the transaction but doesn't know who leaves the key with you. And you can pick an app on the phone it will download the am. Open your account and you're ready to go if you want to use the app to buy on. In the case of coins there's a clear link to a bank account and they will get your bank account the amount you are. Calling a big current account you know Lawrence what it is you're explaining this I am feeling like a dinosaur I think. I have. Yeah I'm excited to to do this Molly and I've talked about trying to understand decline and use really seem like the guide to try to explain it we've got about 2 and a half minutes so what would be kind of a final couple of thoughts that you would leave with our listeners as we're thinking about Bitcoin and also where can people find your information because you've done some excellent and you did an excellent paper on that and then went on the high arc and the creation of moral hazard by central banks so how can people get that information and what's the last thought you'd like to leave with our listeners. On a blog that people can find. Or on put out by the who don't know none of alternatives harmonically and instead one more time just a little one more time. Or or. Icing on the. On it's got lots of other contributors who write about other aspects of monetary policy I think write more about what's going on. So my view about because we don't really know how they're going to be covered work 100000000000 Borg but a lot of it is. Killer use. And it seems like buying coffee at Starbucks is not going to happen. Well. How you do in their beautiful car isn't it yes what's the phrase Yeah 93 late nights at the office plus tax of course 93 late nights hot my budgets more like 72 let me talk to the boss what I can do while other insurance companies just we see something you were drilling hard far so why not give it the protection it deserves without He's never done this before but he says I could. Stand some free air fresheners deal State Farm call in Agent today. Dirty cleats juice boxes that's life a carpet that resists more that's life only from the Home Depot it has advanced technology woven into resist whatever life throws at it or on it for years at a guaranteed low price that covers any budget beautifully visit Home Depot flashlight proof to learn more physical store to schedule a measure today life proof. Home Depot more saving more doing for us only. We believe ordinary people can govern themselves but once the Liberty is brought to you by the Vernon Kay Krieble Foundation. Today you need to have a great online and social media presence in the best in the business Desi on demand the marriage takes Molly and can personally work with Brandon the founder of Desi on demand instrumental with our video projects Chad egg sectional endeavors and our World War 2 project we most heartily endorse his creativity innovation dedication and integrity Brandon and his team bring all that to the table check out Desi on demand 6 and a marriage 6 and she made a contest the merits come or visit us online at American. Chicks are you Judy and to move money 16. To going back to the mirror to smuggle in Kim Munson and we have Lawrence White on the line we bumped up against the break there and didn't get to finish your thought so Lawrence White with the Cato Institute and also check out the website of all to hyphen him dot org His He's got writings there as well so final thought on that Lawrence and apologize that we we bumped up against the break on that. If you think about the calling of investor I would say you know be cautious don't put your wealth in and we don't really know what it's going to turn out to be. There are other cryptocurrency that also have a point or they may turn out that they end up with Alliance or the market rather than because but there's another way to think about it which is it's an amazing technology that has come about because it was inaugurated without the innovators asking for permission 1st and so it's an example of the sort of thing that can arise if we let it sort of prematurely stamp down on technology because of fears about how they might be abused or misused so I say let it rip and let it fly and expect them so whether it's Bitcoin or a serious some other crypto currency. Will be better off by letting the discovery process of the market run its course the invisible hand of Adam Smith . Ok Well Lawrence are presenting to you Well Lawrence White thank you so much this is been very enlightening We really appreciate it. Thank you thank you. Ok asking for forgiveness rather than permission they started this whole deal people are creative I mean this is certainly a very creative currency so stay tuned Yeah and if you're creative and you're starting a new business you want to make sure that you've got some mighty back burner to check out every new idea Guy dot com Their one of our partners one of our favorites Evan your idea is a network of i.t. Professionals and they provide On-Demand help with computer needs 247 you never have to leave the comfort of your home they will log in remotely you can watch what they're doing to your computer as they fix it and it's recorded so you can do it yourself later. Got out calm and tell them the American accent you when you call the 1st time and they'll give you your 1st session for free How's that for a deal we like it sure is a good one so the legislative session here in Colorado is back in session so it's a scary time got to keep our eyes on the process and we've got Susan of our who's the chairman of c.r.t.c. The Colorado Republican Business Coalition on the line with us she's going to talk to us a little bit about some of the most recent bills that have already popped up the business owners want to keep their eye on it's going to go fast we got to go to keep our eyes open so Susan welcome to the American. Lady thanks very much thanks for joining us and as I told everybody the beginning I admit this is Molly and I serve on this board with Susan as well and every week it will thank you every week we go through the bills and we pull out everything we say does this apply to business owners do they need to know is it going to help or hurt create jobs and you know and what do you need to know about it and then we let the legislators know if we oppose or we support it so let's jump in Susan what are some of the bills that we want to make sure people have on their radar so far. Well you know I just one thing quickly there were a few bills that we didn't even get to jump in on because immediately a 100 bills were read with a call right across the desk which means they're read in and they go off to their committees and so some of them went through the committees and we didn't get a chance to say anything yeah in the session just opened last Tuesday so it's it's a very fast process they feel I would sometimes they want to keep things away so you can see them right yes like drinking from a fire hose trying to monitor all this stuff but one of the bills that we talked about today was House Bill 1001 and it's the Family Medical Leave insurance plan and especially for small business owners this one is really concerning because it kind of works like. Worker's comp insurance where unemployment insurance where the employer will the duct about one percent of the payroll I think it is and paid into this but and then people can. Apply do that now normally what happens is they figure out whether you have a personal or business to pay all of that money out of their payroll so they'll scale it down but that's not happening. On this bill and of course any time you know an employer has to take something off the top and pay it to a government agency that reduces the amount of money they can pay their employees and this makes the state an insurance company and that's really wrong Well Susan one percent of total payroll you know like restaurants and bars and all that they don't really work on a very high margin in them but one of their largest costs is their employees so an additional one percent that's a lot and that's also taking the money out of the workers pockets I mean it really seems like a very kind of a very high tax to me yeah I think that it is you know any time you have a peer role it's generally one of your largest expenses and of course in Colorado we have the minimum wage which goes up about $0.90 until 2020 so. Boy businesses are really going to get hit dream yeah and one other question does this have to go through Taber I mean in a way it's kind of an increase in taxes but it doesn't look like you would have to get to here to the table rules the taxpayer bill or write rules you know I'm not expert on here but I think that you're probably right Ok it seems like it should but it sure doesn't look like that's something they want to do so what's another one Susan coach of our that we should have on our radar. Another one that seems to be really raising a lot of eyebrows is House Bill 1054 and that's the affordable housing plastic shopping bag tax. Added and they come up with that name a plastic shopping bag tax for affordable housing and affordable shop shopping bag so that you can have affordable housing. Yes and it hurts the people that can least afford the $0.25 of the shopping bag the idea is when you go to the grocery store you pay $0.25 for stopping bags there's no apparent number quantity that does this every time you go and it doesn't you know I don't know. What happens if you don't take bags they seem you're not turds I don't know but. So that just doesn't make any sense well you know what Susan I was looking at this I think both you and I you know this really kind of caught our attention interesting Lee enough when you look at the bill is if you are paying with snap so you know kind of the food stamp program then you don't have to pay the tax for the. Bag And so that's really unfair The other thing once again is this squeezes people that are trying to get into the middle class. Yes And are you trying to you know when you start carving out exemptions like that is it about the plastic bags being recyclable or is it about. A government program yeah a government program and not this particular one as I understand it because it is 2 separate subject affordable housing and shopping bags you can't like tie those things together so that would have to go to those people so we're hoping your b.c. Is opposing it and hopefully it won't make it out of the Senate and on the ballot Ok And another thing to keep in mind you know is the government tries to increase certain different taxes and things like this for different employers and for these grocery stores that means there's going to be no more paperwork for these grocery store owners and they're going to have to figure out a way to start pulling out Ok this $0.25 is for this versus this person says this has to go you know here and there and there and they have to hire more people to do that or spend more hours doing that kind of administrative work and that makes it more expensive to do work and increases costs are going to increase that the price of groceries and so that's going to hit everybody not just the people who are using the plastic bags everybody even the ones using the bt cards and it really hurts tiny businesses trying to comply with this stuff you know sometimes it involves changing software So both these last 2 Bill we talked about it are both require a lot of. Attention to apply it so well I always say you know not one more paper to fill out we are just buried in regulatory paperwork so here we see definitely opposes that good for you quickly one more Ok one more big one is Senate bill there 06 or which requires 100 percent renewable energy by 2035. You know we have plenty of oil to to support us threat least 800 years. So. For there is no need for something like this through we currently do not have a way to store enough energy to make renewable even viable and they are so expensive at this point. This is just not a good bill it really will break us you know we see Spain it is nearly broken air con to me forcing renewables like this is not something that government should be doing in b.c. Of course this bill is well. You guys been busy Yep and so then Susan you own the longest standing drive in movie theater here in Colorado and so obviously you are a business owner and you know how these affect people tell everybody how they can find out the legislative information as we do this weekly. Absolutely go to Colorado Republican Business Coalition You can Google that it will come up under c r b see if you can remember that and if you go to the legislative tab on the top of the website and click down a bill that interest we have allegedly Matrix on there you can see the bill you can see our position but he click on the bill it looks right the status and the text of the bill and things like that so you can follow on and of course you know come on down and your eyes are luncheons or one of our evening events or everything is on Facebook or on our website but you know join us and we will be doing an event together on the America b.c. Will be on Monday February 5th we're going to have Dan predicate with preventing company C.P.A.'s we're going to talk about the tax bill and that will be at water's edge winery so be sure and check that out it's going to be a great event yet that big giant federal tax cut which I went to Washington d.c. And actually got to do a press conference on but you know how will that affect us in all the different areas especially past your businesses that you cooperations and limited liability companies and things so thanks for your good work on that Susan coach of our we greatly appreciate it Molly we are just about a unit and our show so we want to give a shout out to our growing our brand partners private company for all of your county but keeping in tax needs Karen Levine she is an award winning Remax realtor Yannis at the landmark they have the best lambchops in town and heroes and home mortgage Alliance concerts m r cook Alliance insurance services Jeremy McCallum Evan your i.t. 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In July struck by metal pieces that burst through it to caught the airbag big news today from Apple thanks to that new corporate tax code law Apple says it'll build a new u.s. Campus create 20000 jobs over the next 5 years and pay Uncle Sam $38000000000.00 in taxes that's on the billions in cash in profits it's now holding overseas and plans to bring back big news on Wall Street too strong bank earnings helping the Dow shoot up 322 points closing at a new record about 26000 the Nasdaq up 74 and 86 year old media mogul Rupert Murdoch is now in a Los Angeles hospital after the owner of 21st Century Fox hurt his back aboard a yacht in the Caribbean 2 weeks ago Tom Busby c.m. B.c. I'm Nick Sobolewski a select quote agent with the true story that can save you hundreds of dollars.