 Welcome to the last set news. My name is Robin Davis the thumbnail and title suggests we're gonna talk about China and Japan as a kind of reverse course on Crypto and that's another another article we'll get to last which is can you really survive on a million dollars? As far as retirement, it's ridiculous article, but we got to go over it So the first things first what we're gonna talk about this morning and first of all welcome I appreciate everybody stopping by on a Sunday. There's not really much football going on so well American football soccer football, no idea, but What we're talking about today. I think it off track is China and crypto and usually we talk about China and crypto we see stuff like this You know China bends Bitcoin every single year and there's a big outrage and people talk about it And it's like a big nothing burger. Nobody really cares but what this one was a little bit of a Positive side and you got to stick with me on this one because it's not like it's not like the People's Bank of China Or the Republic is coming out saying that they fully endorse Bitcoin But you have to understand that when when somebody says something positive about Bitcoin, especially in that regime It could mean something or it could mean not an extravagant amount But it was interesting article and talks about China should reconsider its ban on crypto Says a former central bank official and here's what we got hanging a ping nailed it Economics professor at China's Peking University and a former member the monetary policy at the People's Bank of China He had a transcript and it was transcribed and one like this He says it's not clear that China's ban on crypto transactions is Sustainable in the long term short term sure because it may lead to missing Critical opportunities and developments of digital tech Alongside of the financial summit December transcript was published on Saturday. The tech related to cryptocurrencies notice he didn't say Blockchain cryptocurrencies which include tokenization. I want you to remember that word tokenization. It's important Distributed ledger and blockchain are valuable for the regulated financial system He also pointed the risks related to crypto which he said do not really function as currencies due to a lack Intrinsic value that's debatable. I think we can all go over that with Bitcoin But that's not the point of this this video China's blanket ban on crypto transactions is mainly due to the current challenges it faces from money laundering To allow the free trading of crypto currency no digital assets will bring more trouble than benefits in the short run I want you to make sure that you understand he's talking about in the short run It's gonna be kind of a pain because you can money launder that is true Does anybody not think we can't do a little money laundering first of all anybody done any money laundering raise your hand You probably have it, but I'm not gonna say that I have or have not but with crypto It could be a little bit easier However, that's the whole point of public blockchain me personally if I had a money launder I wouldn't be doing it on the blockchains very public seems a kind of irrelevant to me But whatever and then of course, this is coming down. It says China issued a ban on all crypto transactions September 2021 And crack down on crypto trading while promoting its CBDC pilot and blockchain technology So I just found it interesting at this one word right here and again, this is from a forum member of the People's Bank of China I Don't know how things work over in China I hear conflicting stories, but it seems like you can't open your mouth You can't really do too much and you can't really say too many things about the government cracking down So if you have somebody who was who was in the People's Bank of China Saying these things might be something to consider that maybe there's a weakening or a crack in the system as far as crypto But he says this one term tokenization Tokenization and it's funny because it's the exact same thing Larry Fink talked about Larry Fink is a CEO of BlackRock. It's got I want to say 10 trillion assets under management maybe 11 it's a lot and This was him in a summit. This was just actually it says this was three days ago But I know this was about a month ago and let's just listen to what he said. It's about 30 seconds As we talk right now, I Believe the next generation for markets the next generation for securities will be will be tokenization of securities We will and if we can have that distributed ledger that we know every beneficial owner Every beneficial seller we all have our our code of who's buying who's selling instantaneous settlement and Think about it changes the whole ecosystem That's the big thing tokenization. It's like everybody wants to tokenize Those types of assets equities traditional equities and what he talked about if we could do that I think that right there is one of the killer use cases for crypto Let me just think about that in the comment section and then also speaking of countries Japan This is the Prime Minister Fumio Kishida says NFTs and dows can pull can bolster the cool Japan strategy I didn't know that was a thing cool Japan that apparently it's been around for quite some time. This is what we have Kishida said NFTs or digital assets can comprise different art forms including video help careers to diversify interesting And he was responding to questions by Masaki Tara nailed it member of the liberal Democratic Party and leader of the government's web three task force. First of all, Japan has a governmental web three task force I find that amazing too Kishida added that dows government a community can encourage people to convene for social issues cool Japan is a term that gained prominence in the early 2000s is an initiative that highlights and promotes the country's cultural influence like J pop Manga and anime Film or video games, and this was what helped strengthen economic and diplomatic ties with other countries. I guess Kishida who soon was vision in 2021 support digital finance web three adoption in Japan to reinvigorate the economy And what he's called new capitalism So great. There's a reason why you see a lot of trading in the Asian countries Japan being one of them Japan game develop developers are also getting on the hitch Konami the Game developing studio behind Metal Gear Solid added 13 new positions and blockchain ventures Sega Which we all know if you're old like me creator beside the hedgehog Announced it's September. It's working on its own blockchain based collectibles games and Square Onix Final Fantasy maker reiterate its commitment to its web three venture in January I gotta tell you if you're looking for some of those those killer Apps of the killer ways to use crypto and NFTs gaming is one of them I think it's gonna be one of those things that hopefully can break out But the problem with with with games is they're pretty awful right now. I think we can all agree that we We played the axi infinities and the stupid games like that this kind of suck, but there's some good games coming up There's one Called Alaska Gold Rush and I have no association with these guys They didn't reach out to me and said hey, we're gonna do we're releasing our video or our game would you like to cover it? Oh, yeah, sure. I'll cover it at some point. I don't really have much information so far But I know that what's interesting first of all Because they got a land sale coming up I will get on on that that is for sure And what I find interesting is that their roadmap they start all the way back in 2020 And like some games like what is that star atlas? Yeah star atlas I think that that's not gonna be coming for like three or four years or something like that correctly if I'm wrong I think that's what it was But in Q1 2023, they're releasing this game and this game doesn't look like Stupid axi infinity and you're not playing for some Tokenomics that are unsustainable. I mean this is from the actual game footage But they released not too long ago and it looks like just like any game I remember playing on PlayStation maybe not PlayStation 4 3 or 2 or something like that But I mean it looks pretty good and then of course with that land sell And people have to pay your rent. It's just interesting I'll do a video on at some point But I just see that games like this with which have like real graphics that people are That are used to if you're a big gamer, I'm not a big gamer, but that could be promising anyhow And that's that part of the the crypto side now. I just wanted to break down into something Which was I found this this article odd and I just want to run it by everybody and I'll go I'll break it down But it says 36% of millionaires say it'll take a miracle to retire Amid rising costs and a shaky market and then goes how to get on the right track if you don't have a million Let's be honest. Most of us don't have a million dollars. Okay? So most of us Watching don't have a million dollars and they're saying right here that a million even if you have a million dollars You can't retire on that which I got to say is true But I got to ask the question. What are you doing with that million dollars? If you have it in the bank That's this is not financial advice, but I wouldn't just keep a million dollars in the bank. Thanks. No sense What will go the article? so 58% of people expect they'll have to keep working longer while 36% worry that retirement may not even be an option and Talks about how much you need to retire comfortably and this is the thing how much do you retire comfortably? Like it depends on where you're at like this is why I can't get financial advice. I don't know who you are So like some people if you're in like your 18s 19 20 mid 20s early 30s mid 30s Like you can probably take some more risks again not telling take risks I'm just saying but if you're up there in years like how much do you retire comfortably? The next question is where are you retiring at? Like personally, I'm not gonna retire in New York or Austin, Texas or Los Angeles for for crying out loud I'm gonna pick some places. Well first of all the what is better and some of us where it's not so god-awful Expensive so then you can really reduce that amount. That's just something to think about But the big thing here is it's pretty sage advice pay down your debt Before you think about bolstering retirement savings get any debt cleared whether it's your mortgage. That's tough Student loans or credit credit card debt And that's big credit card if you have if you're sticking on like credit card at 20% 19 20 25 What are you doing? But you know try to get that away. I try to I don't have I try to have any credit card debt I use credit cards for everything when I'm buying things. I like the points and it's paid off at the end Do your best to pay your bills on time and in full each month most advisors will suggest tapping your highest interest loans first Which makes sense if you got a credit card at like 30% then you probably want to get it to one That's maybe 5% just saying you might then consider rolling all your balance into a single loan with a lower interest rate I don't know if that's even possible these days But I mean if you had one a couple years ago, you probably want to stick with that if it's that low Make a plan don't enter don't underestimate what you need for health and long-term care This is very true even though I get older because you got to think about well is Am I in a place where it's socialized medicine in Europe or a mind of place like America or at the pace of the nose for Insurance and the big thing the whole thing I wanted to get to is this start investing Like if you have a million here's the thing if you have a million dollars in the bank What are you doing like that's not gonna it's not gonna generate any money for you So why would you just have a million dollars in the bank as we inflate it away now? Some people say why don't want to invest into any kind of stocks or crypto because I mean we just saw what happened with crypto We down went down 70 80 90 95 percent. Why do that? It's not a saying I'm saying do get into some type of asset that is appreciating over time with crypto You might have to wait a little bit more time with real estate Which will me and my wife to it works out pretty well because we're not sticking our Crypt are our funds in a bank We have it on to short-term long-term rentals and that just generates income then the asset appreciates So I just thought it was interesting I'm like I can understand why if you're a millionaire with a million dollars in the bank And you're like I can't retire. Well, yeah, because that money is not really working out for you It's not doing anything and if and the highest amount that you can actually get into it is if you have a business right now that's growing The business that you do if you put money of that that'll usually not usually Can't say that a Lot of times sometimes When you start to double down yourself, it pays bigger dividends. That's all I'll say about that Not that I'm saying every business is gonna make it so several expectations if you close your retirement age and Stay conservative if you're just starting out you might consider taking more risk to maximize your returns And the last one is don't listen to a guy who's talking to his computer in front of a really nice green screen Get financial advice from someplace else and the big thing I just wanted to make mention is was this diversify? I dollar cost average. I dollar cost average everything lots a lot of it's in cash right now we just started to regularly DCA as of a couple days ago and But a lot of it's in cash because I was kind of hoarding it a little bit But 1% in stables I got 5% of DGEM plays 4% of masterworks fractionized art land and real estate make up the bulk Amazon business crypto IRA and stocks. So I just like to diversify a little bit. That's what gets me through and that's it for today. So look that Concludes the part about the crypto news and retirements all that stuff which just an interesting article I don't know why people can they get retire for a million. Well depends on where you have here in Thailand. I do pretty well But that is it for today. So you like today's video thumbs up consider subscribing now We'll get into the most fun part of the show Which is Q&A so I answer all your questions the best my abilities and we'll go from there before I go on I will just like to make mention of one thing and that is after this Come over with me to Tom crown. He's gonna be doing a live stream. Oh, he just started like four minutes ago So good guy if you're in a trading, I'm not but just fine. I'm entertaining and maybe some of the checkout And actually, you know what you had to search for Tom crown. I'll put a link in the description So after this, we'll just all shoot over there, but let's do some Q&A, huh?