• Earning Money Should Be Illegal

  • 2024/10/26
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Earning Money Should Be Illegal

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  • Get Your Personal Financial Budget Statement Here:https://s3.us-central-1.wasabisys.com/40webinars/personal-financial-statement.xlsxBriarCliff Crest is an exclusive, invite-only opportunity for select traders looking to elevate their strategies. The only way to secure a chance for an invitation is to email the contact info provided on this podcast.Links from Today’s EpisodeFor Public Housing Residents That Deaunna Mentioned at the beginning of the episode.hud.govSpecial Application Center for HUD312-353-6236https://www.hud.gov/program_offices/public_indian_housing/centers/sac/homeownershiphttps://www.endslaverynow.org/learn/slavery-today/bonded-laborBonded labor, also known as debt bondage and peonage, happens when people give themselves into slavery as security against a loan or when they inherit a debt from a relative. It can be made to look like an employment agreement but one where the worker starts with a debt to repay – usually in brutal conditions – only to find that repayment of the loan is impossible. Then, their enslavement becomes permanent.Show NotesIntroductionPodcast: Drink, Smoke, Stocks, Crypto PodcastHost: AntonioGuests: Kenneth, Otis, Deanna, GraceTopic: Real estate and stock trading discussionsBeverages DiscussionAntonio's drink:Starbucks black hazelnutButterscotch (like grandma candy)No vodka because it’s 11:02 a.m. and not on the breakfast menuDeanna's drink:Folgers Classic Roast with caramel macchiato creamerOtis' drink:Black Crown Smooth and Coke (what he would like to say)Reality: Sweet tea (day drinking not on the breakfast menu)Ken's drink:WaterLast night: Hot toddyGrace's drink:Nothing currently, under the weather (cough drops)Institutional Precision Intraday Trading AdvisorDevelopment update:Antonio finalized the code for his Institutional Precision Intraday Trading Advisor on October 17thThe tool is private, for invite-only stock studentsLink in show notes for those interested in stock class and advisor accessThe tool answers all trading-related questions and provides status updatesAntonio's employees:40 employees, with this trading advisor being one of themFuture plans: Employees that will trade automatically for the users (still in development)Testing feedback:Grace has tested the advisor and successfully received answers to her questionsOtis hasn't tested yet but plans toQuestion: Should We Create a Business for Our Investments?Grace’s question:Should an investment firm be created to align with the five tiers from the credit and business funding class?How does this align with a holding company and trust?Should it be a specialty LLC or operational?Detailed AnswerOtis’ response:If you create a business for investments, you’d be considered a professional trader.Requirements: Maintain at least $25,000 in your account at all times to hold this designation.There's significant paperwork involved.Benefits: You can write off many expenses related to trading, such as:Cable subscriptions (if used for market research)Magazine subscriptions related to investmentsAdditional CommentsAntonio’s note: He plans to expand on Otis’ answer with additional insights from his experienceBusiness Setup and Financial StrategySoftware costs:Software for trading and business can be expensive but offers benefits in the long run.Time is required to meet the qualifications for professional trading or business setup.Recommendation: Start personal trading until you reach a minimum of $25,000, ideally $30,000, before considering business formation.Income allocation:Push income from trading towards real estate investments once you've built sufficient capital.Understanding Money Laundering (Three Phases)Phase One: Acquisition and InfusionMost risky phase of money laundering.Example: Acquiring illegal funds and infusing them into legitimate systems (e.g., Al Capone's laundromat).The initial transaction of receiving the illegal money is the most traceable and where legal protections focus.Phase Two: Changing HandsShift the responsibility of the money from one person to another.Example: Otis receives $10,000 and is asked to send $600 to a third party (driver) to disperse the money and reduce the risk.This step is crucial for distancing the original transaction from the illegal source.Phase Three: Legalizing the MoneyMultiple movements and transactions to legitimize the funds.Example: Splitting money, sending portions to different people, and turning it into legitimate income.The money eventually comes back as legally clean, with taxes paid and a new transaction trail.Practical Example: Stock Trading and Income ShiftingScam example:Spam emails requesting to transfer money through PayPal or cash a check are forms of money laundering.Personal example: Antonio couldn’t get a Wells Fargo account due to being scammed as a teenager.Steps in the laundering process:Step One: Acquire illegal funds and infuse them into the system (high risk).Step Two: Shift responsibility by changing hands, moving ...
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Get Your Personal Financial Budget Statement Here:https://s3.us-central-1.wasabisys.com/40webinars/personal-financial-statement.xlsxBriarCliff Crest is an exclusive, invite-only opportunity for select traders looking to elevate their strategies. The only way to secure a chance for an invitation is to email the contact info provided on this podcast.Links from Today’s EpisodeFor Public Housing Residents That Deaunna Mentioned at the beginning of the episode.hud.govSpecial Application Center for HUD312-353-6236https://www.hud.gov/program_offices/public_indian_housing/centers/sac/homeownershiphttps://www.endslaverynow.org/learn/slavery-today/bonded-laborBonded labor, also known as debt bondage and peonage, happens when people give themselves into slavery as security against a loan or when they inherit a debt from a relative. It can be made to look like an employment agreement but one where the worker starts with a debt to repay – usually in brutal conditions – only to find that repayment of the loan is impossible. Then, their enslavement becomes permanent.Show NotesIntroductionPodcast: Drink, Smoke, Stocks, Crypto PodcastHost: AntonioGuests: Kenneth, Otis, Deanna, GraceTopic: Real estate and stock trading discussionsBeverages DiscussionAntonio's drink:Starbucks black hazelnutButterscotch (like grandma candy)No vodka because it’s 11:02 a.m. and not on the breakfast menuDeanna's drink:Folgers Classic Roast with caramel macchiato creamerOtis' drink:Black Crown Smooth and Coke (what he would like to say)Reality: Sweet tea (day drinking not on the breakfast menu)Ken's drink:WaterLast night: Hot toddyGrace's drink:Nothing currently, under the weather (cough drops)Institutional Precision Intraday Trading AdvisorDevelopment update:Antonio finalized the code for his Institutional Precision Intraday Trading Advisor on October 17thThe tool is private, for invite-only stock studentsLink in show notes for those interested in stock class and advisor accessThe tool answers all trading-related questions and provides status updatesAntonio's employees:40 employees, with this trading advisor being one of themFuture plans: Employees that will trade automatically for the users (still in development)Testing feedback:Grace has tested the advisor and successfully received answers to her questionsOtis hasn't tested yet but plans toQuestion: Should We Create a Business for Our Investments?Grace’s question:Should an investment firm be created to align with the five tiers from the credit and business funding class?How does this align with a holding company and trust?Should it be a specialty LLC or operational?Detailed AnswerOtis’ response:If you create a business for investments, you’d be considered a professional trader.Requirements: Maintain at least $25,000 in your account at all times to hold this designation.There's significant paperwork involved.Benefits: You can write off many expenses related to trading, such as:Cable subscriptions (if used for market research)Magazine subscriptions related to investmentsAdditional CommentsAntonio’s note: He plans to expand on Otis’ answer with additional insights from his experienceBusiness Setup and Financial StrategySoftware costs:Software for trading and business can be expensive but offers benefits in the long run.Time is required to meet the qualifications for professional trading or business setup.Recommendation: Start personal trading until you reach a minimum of $25,000, ideally $30,000, before considering business formation.Income allocation:Push income from trading towards real estate investments once you've built sufficient capital.Understanding Money Laundering (Three Phases)Phase One: Acquisition and InfusionMost risky phase of money laundering.Example: Acquiring illegal funds and infusing them into legitimate systems (e.g., Al Capone's laundromat).The initial transaction of receiving the illegal money is the most traceable and where legal protections focus.Phase Two: Changing HandsShift the responsibility of the money from one person to another.Example: Otis receives $10,000 and is asked to send $600 to a third party (driver) to disperse the money and reduce the risk.This step is crucial for distancing the original transaction from the illegal source.Phase Three: Legalizing the MoneyMultiple movements and transactions to legitimize the funds.Example: Splitting money, sending portions to different people, and turning it into legitimate income.The money eventually comes back as legally clean, with taxes paid and a new transaction trail.Practical Example: Stock Trading and Income ShiftingScam example:Spam emails requesting to transfer money through PayPal or cash a check are forms of money laundering.Personal example: Antonio couldn’t get a Wells Fargo account due to being scammed as a teenager.Steps in the laundering process:Step One: Acquire illegal funds and infuse them into the system (high risk).Step Two: Shift responsibility by changing hands, moving ...

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