 I'm no politician, but I do know business and politics go hand in hand. Today, as you guys and girls can see in the description box, we're talking about the infant infrastructure bill that was passed by President Biden, where it's $1.2 trillion. Yes, another spending package has been spent, but most importantly, what does that mean for investors? Also, I want to get into what does that mean for crypto investors? Because that was a pretty, uh, Slav hands to see crypto turn crypto currencies be included into the infrastructure bill. So ladies and gentlemen, boys and girls and children relations, make sure you go ahead and buckle your seatbelts and get ready. The Prince of investment coming to you guys and girls live all the way from the beautiful city and state of Honolulu, Hawaii via Denver, Colorado. I just said that backwards. I meant that we are, I am in Denver, Colorado via Honolulu, Hawaii. We are probably catching this live or catching the playback or listening to it, which we definitely appreciate. Don't forget to hit that like to strive, comment and share button. But as always, I don't have a lot of time and I definitely, you guys and girls don't have a lot of time. So we are going to jump straight into it. Ladies and gentlemen, boys and girls and children of all ages, we are now talking about President Biden with his master's spending plan. Had a master's spending plan worth the $1.2 trillion. And he said, Hey, I'm going to spend $1.2 trillion, but we're not going to raise taxes. But Hey, I'm not here to be a politician or as is a political show. We want to get down to where is this money going? Now I'll give you my personal take when I see a lot of government spending. It has good intentions when it comes out. For prime example, they say, Hey, we want to put in $10 billion. I've definitely speaking to broadband. So the whole point behind cable, they're saying, Hey, we want to take this money and all the companies, let's say, if you are Xfinity or Comcast, whatever internet provider that you have, if they take money from the government, they have to in turn lower the premiums to the customers. So for prime example, you take a billion dollars from the government. That in return, let's you lower the internet bill to customers. So for prime example, with that being said, sounds good in theory, but we know what happened. One, the corporations don't get the money. Two, if the corporations do get the money, do you really lower your bill? So good policy, but how did it really drill down to the people? But ladies and gentlemen, let's talk no further. Let's get into what people really want to know. What did the infrastructure bills say about crypto currencies? Cryptocurrencies, ladies and gentlemen, you know, it is the new asset class. You know, the traditional asset class was stocks, business and real estate. Now you have a new asset class of crypto currencies, something that the young Americans are very, very intrigued by and that are very big on. You know, my generation, if you were getting 7% return, 10% return annually on an investment account on a portfolio, that was considered to be pretty good, depending on what the market was doing, but that was considered to be a pretty good investment. Hey, I got 10% this year. Right. Nowadays, with the cryptocurrency market doing hundreds and thousands of percent overnight, as soon as you get the refresh button, now those returns are not as popular as they used to be, especially with the younger investors at teenage and 20 years who are all walking around with iPhones and iPads. So cryptocurrency marketing and investing has become very popular. Even though it's a very speculative investment, I too, myself, own crypto currencies. So with that being said, what did the infrastructure bills say about crypto currencies? So the first thing they talked about was reporting. So of course, one of the ways they're looking at funding the infrastructure bill is, you know, the only way the government makes money is via taxes, right? So they got to find a way to tax these crypto currencies that everybody's making crap tons of money off of. So the whole goal was to say, hey, now, hey, if you are a broker, you know, in the traditional financial world, a broker is someone like E-Trade, TD Ameritrade, ScotTrade, Interactive Broker. I think ScotTrade is gone. Charles Swab, Robinhood, those are traditional brokers. That's a place you go on and you buy stocks or a professional goes out there and buy stocks for you, they invest for you or whatever the case may be, and they go to that institution and say, hey, you must produce a 1099 every year to tell me how much money Prince made, or they will go to a bank and say, hey, look, bank, we want to know how much money he deposited, how much money did he make? And if he has a gain, we want our 30%, 20%, we want our taxes from it. We're looking to find gains that he made and we want our portion from it. So the thing about it is, let's look at all aspects of business. When you have a business, you have a bank account and you do your taxes, it's very easy to calculate. Take me for a prime example. I'm a podcast, I'm also an author as well. It's easy to say, hey, these books cost some $15. He sold them for $20. He profited $5. It took another dollar to for shipping or whatever the case may be. He profited $3 for a book and out of those $3, Uncle Sam says, congratulations, Prince on your book sale. Let me take $1 from you. Pretty easy, pretty easy business structure, right? Of government being able to tax people. Cryptocurrencies bring in a new complexity. We all know you have crypto wallets that can be encrypted to where nobody knows what's in the wallet. People buy Bitcoin and they may not sell their Bitcoin. They may sell their Bitcoin in order to not sell it completely. They don't convert it to cash. They may take their Bitcoin and go buy sheep. Then they may take the sheep and go buy doge. Then they may go take their doge and go buy a piece of property or to go buy clothes or anything like that. So the government is saying, hey, yeah, we know you're making money, but we can't keep track of it because we don't know your cost basis. For prime example, let's say someone who has money inside of their crypto wallet right now, they put $100,000 or $10,000 into their Coinbase app. They put $10,000 into their Coinbase app. And Coinbase at the end of the year says, hey, this person made $10,000. The person say, no, I didn't make $10,000. The reason why is that the money came out of the crypto wallet. Coinbase doesn't know how much you paid for originally. Who knows? That's a hard problem that the cryptocurrency market is facing. So what the infrastructure bill says is it is tasking brokers, people who sell cryptocurrency to say, hey, you must keep track of when Prince buys cryptocurrency to know his cost basis. We want to know that he purchased Bitcoin at $50,000 and he turned around and sold it for $60,000 so we can get our $10,000, $50,000 in taxes or whatever the case may be. So they are tasking brokers to keep track of cost basis, which is very difficult to do in a place like cryptocurrency where the finances are defied or decentralized and people don't know. Hey, yes, you purchased your Ethereum, but we don't know how much you paid for the Ethereum and then you don't have the traditional point of sale. For prime example, people make money. They turn in the cash and then they go buy something. With Ethereum, people are buying Ethereum. Ethereum is going up in value and they turn around buying another asset. They may purchase a home. They may purchase clothes, whatever the case may be, they're purchasing other things or they may purchase another cryptocurrency. And it's hard to say, hold on, what is the point of sale? It doesn't have that traditional point of sale. So the infrastructure bill now is tasking the brokers to say, hey, we want you to keep track of this. We want you to pay attention to this to let us know what people are doing, how their money is going along so we can tax them. The other thing is they want any transaction over $10,000 to be reported. So for prime example, we all know that cryptocurrency gained a lot of its popularity in the beginning for being the black market. So it was the market where people went out and said it was a black market where people would go out and buy organs. People would sell drugs. People buy things from overseas, buy and sell all type of this black market that we have out there, the black internet, the black web. I don't know any, I know of it, but of course I'm not on it. But it was a way for people who did illegal activities to be able to make transactions. Now the government is saying, hey, because for prime example, let's say if I'm a drug dealer and I have $100,000 worth of profit. If I take that to the bank, it's going to flag, it's going to flag me. It's going to say, hey, where did you get that $100,000 for? I can't explain it. If I take it to an investment firm, they're going to say, hey, would you get that $100,000 from that? You know, it's going to be hard for me to explain. But if I take it and start a cryptocurrency wallet, start a cryptocurrency account from a platform and I create a crypto wallet and then I convert, you know, I buy two bitcoins with my $100,000, $120,000. And then I go out and start to acquire assets. How can the government know what's going on? So what they're tasking brokers to do on this end is that all the information, if you put $10,000 into a brokerage account of any type of cryptocurrency, they are to report you to the IRS. They're supposed to say, hey, you know, Prince brought $10,000 worth of MENA. He purchased $10,000 with the MENA and we need to. This is his name, address, phone number, all these things like that. This becomes a problem because it goes against the core of what cryptocurrency stands for and what it was created for. It was supposed to be the hands off, lazy fare, decentralized backed by blockchain finance. And I hear you are again, asking people with finding ways to do this inside of the infrastructure bill. But most importantly, when I look at all of this, it's just that something that I knew from the beginning as cryptocurrencies gained popularity, that there was going to be more control features. There's going to have to be licenses. There's going to have to be somebody to oversee it. Anywhere you have money without somebody overseeing it is like the Wild Wild West. And, you know, it's just a matter of time for something bad to happen. So as it gained in the popularity, now, bitcoins can be put into people's retirement accounts. Bitcoin has grown up to, you know, become, you know, definitely been mainstream for a while now. Now you got other ones like Ethereum and all these other currencies that are out there. And now the Federal Reserve is acknowledging it. The governments and traditional finances are acknowledging it. Now they have no choice but to start to regulate it. Something that we should have known that was going to happen. That was an infrastructure bill. But I want to touch on that crypto currencies, but we're going to do. We're going to take a quick break when we come back from this break. We're going to discuss the rest of the things that are included into the infrastructure bill. So we're going to take a quick break and we'll be back. Hi, I'm Rusty Kamori, host of Beyond the Lines on Think Tech, Hawaii. I was the head coach of the Punahou Boys Varsity Tennis Team for 22 years. And we were fortunate to win 22 consecutive state championships. My show is based on my two books Beyond the Lines and Beyond the Game, which is about leadership, success, character, and creating a superior culture of excellence. Please tune in and watch my show every Monday at 11 a.m. on Think Tech, Hawaii and on YouTube. Aloha. Ladies and gentlemen, boys and girls and children of our ladies, we are now back here live with the Prince of Investment. My name is Prince Dykes, coming to you guys and girls live from Denver, Colorado via the beautiful city and state of Halaululu, Hawaii. Don't forget to hit that like, subscribe, comment, and share button. And if you have been tuning in already, you know, I don't have a lot of time. I definitely know you guys and girls don't have a lot of time. So we're going to jump straight into it. Beginning of the show, we talked about the infrastructure bill and how it relates to crypto currencies. I focused on that because crypto currency is very popular. Very, you know, a lot of people were into them, especially with the young, the younger audience. Most importantly, I was kind of pinging to me because I wasn't expecting that to be an infrastructure bill, right? So, you know, the infrastructure bill is like 10,000 pages as usual. But a lot of it was mundane things that we kind of expected with the infrastructure bill itself. Like for prime example, they put one hundred and ten billion dollars into roads and bridges, 40 billion dollars just into roads, road repair. They're addressing climate change. They're addressing electronic vehicles, upgrades to airports. They're looking at energy, water, renewing the water system, cheaper internet, making internet more accessible to people and also any companies that get federal funding that they have to reduce their bills and all those things like that. And it's a slew of things that were in there as far as being allocated for infrastructure. So this plan was originally called the American Jobs Plan. The reason why it was called the American Jobs Plan is that for prime example, the government is not going to go out there and build the bridges and roads themselves. They're going to put up government contracts to probably going to contract this out to companies for companies to go out and build bridges and roads. So when companies have to go out and bid and they win a bidding war and they get the government contract to be able to go out and build roads and bridges and roads and bridges. When they build these roads and bridges, they're going to have to hire people. They're going to have to go to any engineers. They're going to need people to they're going to have to buy heavy equipment. All those things like that spur the economy. People working more, people start to watch more, I don't know, watch more TV, buy more things, travel more, boosts the economy overall. So that's the thing that I'm looking at. I look at it as a bearish trend into the market because they're going to put people back to work and everybody knows small businesses and employment is the cornerstone of an economy because you can have the greatest economy in the world. People are not working. People don't have money. It doesn't matter how great the product is or how much it's on sale. If I don't have the money, I just don't have the money. So these are the typical things that are being found inside of the infrastructure bill. And the infrastructure bill itself, nothing fancy, nothing too crazy about. I was very big on infrastructure, seeing the infrastructure companies like Cattlepillar and these engineering companies and government contractors play very close attention to them and see how they will respond to it. They've done OK so far for the year. But the biggest thing is it's a bullish indicator for the market because by having this infrastructure bill, all this infrastructure they want to do, electronic vehicles. I even saw something with charging stations across the country for electronic vehicles, solar energy, things like that. All this is going to do is this is going to allocate a lot of resources and funds to hopefully hire more people and employ more Americans and drive down unemployment some more. So with that being said, it's a bullish trend that I can see out of the infrastructure bill itself. But when it comes out of politics and allowing politicians to pass a bill to be funded to fund things, I'm not the biggest fan on it because most of the times I don't see those funds go go to what they were designed to do. Most of them end up disappearing. I mean, that's just my take. They all, you know, they go off. They sit somewhere just like COVID relief. They said, hey, we're going to put this money to the side for small businesses. And we saw a debacle that happened with some small business didn't get it. Some large businesses got it. You know, money is tied up. You had all type of fraudulent stuff, PPP loans, X, Y, Z. So I'm not too crazy about the government throwing money out there. But I understand it. So that's the infrastructure bill in the nutshell. Hopefully you guys and girls got something out of this episode, especially what they snuck in for crypto currencies. So all the cryptocurrency heads out there because it was a nasty rumor going around saying that there was going to tax you on unrealized gains. And that sounded pretty crazy, unrealized gains. Let's say you put $1,000 on cryptocurrency and now that $1,000 worth $10,000. Even though you haven't sold it, the government comes in and says, hey, that's a $9,000 gain. Even though you haven't sold it, I want a piece of that. So, you know, that was started a very big uproar of unrealized gains because the government is trying to figure out a way. How do we get our piece of the pie of this new asset class? They're slowly figured out. And I think that crypto currencies won't be as crazy popular as they once was. And what I mean, they're still going to be popular, but they became popular because it was definance, black market type thing. Once the government gets to putting his hands around and getting around it, you know, the SEC is going to be involved, licensing the agency is going to be involved. Now you're going to have brokers turning your name, social security numbers. So how decentralized are you really when all this legality starts to kick in? That's just my take. Well, ladies and gentlemen, boys and girls and children of all ages. I hope you guys and girls got some of this episode. Thank you all for tuning in. Don't forget to hit that like, subscribe, comment and share button. And as always, until the next video, podcast, cartoon, book or whatever is crazy, you see me do around the globe. My name is Prince Dykes. I'm the Prince of Investment. Peace, be safe. I'm out and thank you.