In this episode of Money Never Sleeps Radio with Louis Velazquez we return with a focus on the plummeting oil market, what it means and how the current pandemic is changing the world we live in forever.
Last week I spoke about my views on Gold, Oil , Twitter, Facebook and Google on “Money Never Sleeps” and I want to revisit this and add onto that conversation.
So many people are trying to figure out where gold is going, is it going up, down or sideways and the impact that it will have on the rest of the market. On top of that so many people are blaming geo political situations and others are still blaming a strong US Dollar, let me shed my own light on this topic and maybe it will get you thinking a little different about precious metals in general.
Gold was once the backing for currency, there is no question that the more gold you had the more strength your currency had, the perceived value is what drove men to venture to the farthest ends of the earth for the metal despite the level of danger.
That perception was due to the limited supply in the world, which at that time in history it made some type of sense, the money was there to be made and some people did whatever it took in order to stake their claims and get that gold.
The key word I keep using is the perception, what value is put on something based on the perceived value of society, so this is what we go by right?
I’ve traveled the world acquiring gold privately for clients and I wasn’t trading futures I was physically going and acquiring this for them. So I got to see first hand how everything worked from the ground to the retail level, this also goes for diamonds but that’s a story for another day, so I’ve from extraction until it showed up on someone’s finger.
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NETLFIX, TWITTER, FACEBOOK
Twitter has been under fire as of late, the stock slipped hard after their brutally honesty and dark outlook for the company’s immediate growth. I listened to that periscope a few times and then I reflected on when Dick Costolo and Jack Dorsey were on CNBC a month or so prior stating that the company is not changing direction and their plan will remain in tact.
These comments scared investors, threw off analyst and basically left me confused.
Twitter is a great platform, no one can ever dispute that, I was using Twitter when you had to send a text for it to show up and it showed so much promise. When Ashton Kutcher became the evangelist of the platform it started to take off when Oprah used it then it was game on, and it continued to grow. Many people didn’t understand it and even today a lot of people don’t understand it, which is unfortunate and that is the fault of the company.
Twitter cannot be compared to Facebook in the least; Facebook was the original disruptor when it was initially restricted to university students with school emails but it evolved and that’s what technology does it evolves.
Myspace used to be the cool place to be until Facebook came along and really who even uses Myspace any longer?
So Facebook was the place to be, make connections, reconnect, market etc etc, but over time Facebook evolved from being just for the youth to being for everyone, where not only the kids but their parents, grandparents and maybe even great grandparents have an account.
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On todays show we are talking about the gold market, oil industry, the $15 minimum wage hike in New York, Uber and the NYC battle, Twitter’s Periscope