WEBVTT 1 00:00:00.440 --> 00:00:04.559 For those days full of diligence. You can take more reservations off your list 2 00:00:04.639 --> 00:00:09.560 now. Now you can apply for your card. They reserve directly from this 3 00:00:09.640 --> 00:00:14.400 LAPP. It is very simple Download the app, fill your data and ready. 4 00:00:14.839 --> 00:00:19.600 Your card goes on reservations. You will be on your way to enjoy 5 00:00:19.600 --> 00:00:25.839 a fast, secure process, with real- time notifications and access to many 6 00:00:25.839 --> 00:00:34.520 benefits. You can now apply for your card and save time. Welcome to 7 00:00:34.560 --> 00:00:40.359 Economics Nata, your financials podcast Here we will speak light and sincerely of money, 8 00:00:40.679 --> 00:00:47.439 where together we will turn the difficult into easy and clear we will take 9 00:00:47.560 --> 00:00:51.240 our finances to another level. From now on, your numbers will be as 10 00:00:51.320 --> 00:00:56.560 if you' ve never made mistakes for a lecturing past, a healthy present, 11 00:00:57.000 --> 00:01:00.320 a promising future, and a grateful pocket. That' s why follow 12 00:01:00.359 --> 00:01:03.560 us on Instagram, Facebook, tik tok, linking and Twitter. Throw in 13 00:01:03.640 --> 00:01:10.359 the chormistata hello welcome to new episode more Te Economics Tata Your Podcast Te Finances 14 00:01:10.439 --> 00:01:17.439 I am Kim You and today we have a spectacular episode so that we all 15 00:01:17.519 --> 00:01:22.760 land where we are currently standing in economic terms, what is happening, because 16 00:01:23.519 --> 00:01:27.519 we have seen cups maybe so high lately, when some months ago the truth 17 00:01:27.560 --> 00:01:30.599 you remember that all that was expected was that in this year the rates were 18 00:01:30.680 --> 00:01:36.640 going down, that everything was going to normalize. What, sir, take 19 00:01:36.680 --> 00:01:40.799 advantage of the fees because they go down and, suddenly, the financial and 20 00:01:40.840 --> 00:01:45.280 economic landscape has changed. So people have that doubt about why we' re 21 00:01:45.319 --> 00:01:49.480 still so high on loans. I' m listing a vehicle loan, I 22 00:01:49.480 --> 00:01:52.079 ' m listing a mortgage loan. The truth is that they are rates that 23 00:01:52.200 --> 00:01:57.280 I had years without seeing and also the issue of investments how they shot after 24 00:01:57.319 --> 00:01:59.959 people thought that no longer that down. And that' s going to be 25 00:02:00.120 --> 00:02:04.640 the eight to seven logo in the coming months, because we' ve already 26 00:02:04.959 --> 00:02:08.599 seen that they haven' t really gone back to that level of eleven, 27 00:02:09.159 --> 00:02:14.439 maybe twelve and even other maybe higher rates as well and we' re not 28 00:02:14.520 --> 00:02:19.199 just talking about mutuals, but also about financial certificates that we were years old 29 00:02:19.319 --> 00:02:23.039 or we didn' t see you like that at such high rates, so 30 00:02:23.400 --> 00:02:27.280 we' re seeing high cups both in loans and also in certificates, that 31 00:02:27.280 --> 00:02:29.719 active and passive nasas. Definitely, then many people have the doubt what' 32 00:02:29.719 --> 00:02:35.039 s going on, tell us a little bit about spoons. Let' s 33 00:02:35.039 --> 00:02:38.800 talk about economics, but with spoons. And for this episode we invited Jennifer 34 00:02:38.879 --> 00:02:43.520 Canalda, who in the treasurer of JMM B Dung and former colleague, sir 35 00:02:43.639 --> 00:02:47.599 is a star. I thought of her for this episode because years ago it 36 00:02:47.800 --> 00:02:53.639 was said that two thousand nineteen maybe I went to a talk about her talking 37 00:02:53.719 --> 00:02:57.439 about issues similar to this, and I said wow. She explains this song 38 00:02:58.400 --> 00:03:01.639 super well, which is nothing you have taught yourself to explain and then that 39 00:03:01.800 --> 00:03:05.439 ' s why I had it my top of man so I could record this 40 00:03:05.439 --> 00:03:08.680 episode. Welcome, Jenny, pervenant, and what honor I mean, I 41 00:03:08.800 --> 00:03:15.240 ' m excited Lords, what real honor, what great emotion to be in 42 00:03:15.319 --> 00:03:19.319 this podcast? I' m a fan, so don' t miss it, 43 00:03:19.479 --> 00:03:23.680 no, I miss an episode, although maybe this isn' t the 44 00:03:24.960 --> 00:03:30.280 subject of your aemás Chulo he Manchu talks about other things like weddings. Yeah, 45 00:03:30.400 --> 00:03:34.039 but we' re gonna do it with spoons and that' s what 46 00:03:34.039 --> 00:03:37.159 I take advantage of that' s what' s important to make the best 47 00:03:37.159 --> 00:03:38.960 decisions you ever made. And people appreciate these kinds of episodes because it' 48 00:03:39.000 --> 00:03:42.280 s a topic that if you go to the newspaper and you go to Google, 49 00:03:42.360 --> 00:03:45.039 you won' t understand. You don' t need someone to explain. 50 00:03:45.120 --> 00:03:47.520 More like that, close with spoons. Yeah, yeah, so, 51 00:03:47.599 --> 00:03:51.719 Jenny, tell us a little bit? Tell us a little bit? How 52 00:03:51.800 --> 00:03:55.599 do you feel he is? What do I know perhaps the economy currently the 53 00:03:55.639 --> 00:04:00.520 things we may have to be looking at on the Central Bank page, the 54 00:04:00.599 --> 00:04:04.680 measures being taken by the Governor of the Central Bank. Yeah, well, 55 00:04:04.840 --> 00:04:10.599 look, you touched on a very, very important topic, that let' 56 00:04:10.639 --> 00:04:14.280 s say that the most important thing right now for an investor is the issue 57 00:04:14.400 --> 00:04:17.560 of cups, because now, right now, you can take advantage of the 58 00:04:17.560 --> 00:04:19.920 best conditions. I would say that we give in a historic peak, yes, 59 00:04:20.199 --> 00:04:27.959 of the incredible squares, where you can take advantage from very high cups, 60 00:04:28.600 --> 00:04:30.800 in a financial certificate, immutuous cups. The truth is that right now 61 00:04:30.800 --> 00:04:40.120 there is an important offer that I would say to you that comes very tied 62 00:04:40.160 --> 00:04:44.160 to certain measures that the Central Bank has been taking and also to a very 63 00:04:44.199 --> 00:04:48.879 conjunctural situation of this moment. Okay, which co- junction measure specifically Okay, 64 00:04:49.519 --> 00:04:55.319 I' d say rates are mainly defined by the levels of liquidity in 65 00:04:55.360 --> 00:05:00.560 the market. OK, so what does this mean? Good, half supply 66 00:05:00.560 --> 00:05:03.879 and demand. If there' s a lot of liquidity in the market, 67 00:05:04.319 --> 00:05:09.120 a lot of money, a lot of money, people have a lot of 68 00:05:09.199 --> 00:05:13.560 money in their pocket, basically to invest, to save, to spend, 69 00:05:13.560 --> 00:05:15.040 then what does that do? Well, banks no longer need to pay very 70 00:05:15.600 --> 00:05:20.319 high fees and vice versa. Yeah, there' s some liquidity houses. 71 00:05:20.439 --> 00:05:25.480 I mean, people don' t necessarily have that much money to spend. 72 00:05:25.639 --> 00:05:30.279 Right, so banks have to compete for that liquidity. OK to compete in 73 00:05:30.360 --> 00:05:38.839 terms of cup, obviously correct. Then I' d tell you that for 74 00:05:39.000 --> 00:05:42.160 you to be sure what' s going to happen to the cups. Liquidity 75 00:05:42.319 --> 00:05:46.439 is like the most important indicator and you can verify it on the Central Bank 76 00:05:46.519 --> 00:05:51.879 page. That' s information that' s public. You go, on 77 00:05:51.879 --> 00:05:58.000 the Central Bank page there' s an access that' s called shortcuts and 78 00:05:58.120 --> 00:06:01.199 there you' re going to see a you have to click on a place 79 00:06:01.319 --> 00:06:05.720 that' s called daily currency operations OK. And there' s going to 80 00:06:05.800 --> 00:06:12.600 be a column that' s called currency contraction operations ok. With a spoon, 81 00:06:13.480 --> 00:06:15.079 right, let' s spoon for a pass. Not so much, 82 00:06:16.879 --> 00:06:23.040 so those monetary contraction operations, which are good, banks have surplus liquidity that 83 00:06:23.120 --> 00:06:29.800 they can daily invest in the Central Bank. So, the more liquidity surplus 84 00:06:29.879 --> 00:06:33.319 they have the truth, the more money they' re there, the more 85 00:06:33.319 --> 00:06:36.120 money they' re right there. So that' s going to be reflected 86 00:06:36.160 --> 00:06:41.199 in the malicious contraction operations, because it' s going to increase those investments 87 00:06:41.199 --> 00:06:44.720 that they make in the Central Bank, okay, so you' re going 88 00:06:44.720 --> 00:06:48.240 to see a rise as the banks have more money, more liquidity, because 89 00:06:48.319 --> 00:06:51.959 that number that we' re going to see where you indicated should look higher, 90 00:06:51.959 --> 00:06:58.759 right. So that' s a key indicator. The higher it is, 91 00:06:58.839 --> 00:07:02.120 that signifi number that there is more liquidity in the financial system and, 92 00:07:02.519 --> 00:07:09.639 therefore, the lower the rates were and the contrary, yes, that indicator 93 00:07:09.720 --> 00:07:14.120 is very low. That is, if the surpluses that banks are investing in 94 00:07:14.279 --> 00:07:18.279 the Central Bank are smaller, then it means that liquidity in the financial system 95 00:07:18.319 --> 00:07:23.759 is low and against which you compare it, it is very low. But 96 00:07:24.240 --> 00:07:29.639 OK then, well, this is very empirical, right, but on a 97 00:07:29.720 --> 00:07:36.839 general level, I would tell you that an average level goes between thirty thousand 98 00:07:36.920 --> 00:07:42.879 and forty zero million pesos ok. But what happens that indicator is very ambiguous, 99 00:07:42.959 --> 00:07:47.199 because it will also depend on how that liquidity is distributed in all the 100 00:07:47.279 --> 00:07:54.120 banks of the country, ok because if that liquidity is very concentrated in one 101 00:07:54.279 --> 00:07:59.240 two three banks and not in the entire financial system, then they are both 102 00:07:59.279 --> 00:08:05.639 the reality exactly ok then here, within the Central Bank, we can realize. 103 00:08:05.399 --> 00:08:09.199 That even I was reviewing it today before this episode and I saw that 104 00:08:09.279 --> 00:08:13.879 it is already about thirty billion to mail that is, that we are within 105 00:08:13.920 --> 00:08:18.920 the average. Yeah, within average, but what' s going on Quim 106 00:08:20.040 --> 00:08:22.759 and Lake right now here is why we' re seeing so high rates. 107 00:08:24.360 --> 00:08:28.040 You remember that during the pandemic, the Central Bank launched a series of liquidity 108 00:08:28.079 --> 00:08:33.519 provision measures for the country. Right, yes, of course. There I 109 00:08:33.600 --> 00:08:39.120 took advantage of my 9 percent lace first, then I took advantage of it 110 00:08:39.320 --> 00:08:41.559 eight percent and finally, I took advantage of it too, as this was 111 00:08:41.559 --> 00:08:45.279 mortgage. Finally, I took advantage of eight percent of the vehicle, that 112 00:08:45.320 --> 00:08:50.720 is, every time an incentive comes out. That' s how I' 113 00:08:50.840 --> 00:08:54.399 m standing there at first grade. Yeah, all right, all right. 114 00:08:54.559 --> 00:08:56.679 You remember that measure, which was the quick liquidity facility, the faith read 115 00:08:56.799 --> 00:09:01.519 then, that measure that the Central Bank launched to provide liquidity to the entire 116 00:09:03.039 --> 00:09:05.480 financial system and that, in turn, the financial system lent to different productive 117 00:09:05.600 --> 00:09:13.440 sectors to bring more money to the exact economic and increase that economic activity of 118 00:09:13.480 --> 00:09:20.440 the country ok So, what happens? At the moment, banks have to 119 00:09:20.480 --> 00:09:26.799 repay these facilities from the Central Bank. I mean, that was in the 120 00:09:26.879 --> 00:09:31.639 form of a loan and in turn, the banks lent to the people, 121 00:09:33.639 --> 00:09:37.840 then those facilities had a maturity dates, year, three years, to which 122 00:09:37.919 --> 00:09:43.120 we are already there exactly, then it' s time to repay those facilities 123 00:09:43.320 --> 00:09:48.120 to the Central Bank, then what happens? We' re talking about, 124 00:09:48.279 --> 00:09:50.159 I mean, that fact doesn' t come out completely clean, but it 125 00:09:50.159 --> 00:09:54.159 does. It is a perfect indicator of those commitments that banks have to the 126 00:09:54.240 --> 00:10:00.200 Central Bank, because they account for both the FLR and, for example, 127 00:10:00.480 --> 00:10:05.399 the orepos that banks make to the Central Bank. So, that figure to 128 00:10:05.480 --> 00:10:11.720 the June sky was one hundred and four billion pesos. That is the total 129 00:10:11.240 --> 00:10:18.840 that financial institutions that took the quick liquidity facility during the pandemic have to return 130 00:10:18.840 --> 00:10:24.360 to the Central Bank. Okay, so we' re going to be the 131 00:10:24.360 --> 00:10:28.039 math. If you have liquidity surpluses for thirty zero million pesos right now and 132 00:10:28.080 --> 00:10:35.039 you have commitments for four thousand percent, then what does that mean? Well, 133 00:10:35.200 --> 00:10:39.919 the Central Bank is going to have to take an expansionary monetary policy measure 134 00:10:41.440 --> 00:10:48.159 where it provides liquidity in order to repay that. Let' s say those 135 00:10:48.240 --> 00:10:52.240 commitments that banks have to the Central Bank, which is an expansive policy for 136 00:10:52.240 --> 00:10:56.000 those people who don' t know an expansive monetary policy. Well, first, 137 00:10:56.120 --> 00:11:03.679 Central Bank can do expansionary or contractionary or restrictive monetary policy. So expansionary 138 00:11:03.799 --> 00:11:11.480 monetary policy simply seeks to provide liquidity to the financial system or people to give 139 00:11:11.559 --> 00:11:18.840 money, maybe lower rates run to take more loans accurately. So, on 140 00:11:18.919 --> 00:11:22.799 the contrary, if it is a moneta policy of restrictive ones, it withdraws 141 00:11:22.879 --> 00:11:26.799 liquidity from the financial system, for example, through auctions that are auctions that 142 00:11:26.840 --> 00:11:31.960 we love that we exactly to your bo robe. Gentlemen, you' re 143 00:11:33.000 --> 00:11:35.919 always asking when he' s coming, when he' s coming. That 144 00:11:35.960 --> 00:11:39.720 ' s right, so let' s say that' s what happens right 145 00:11:39.720 --> 00:11:43.240 now. For example, today, an auction that that kind of upload is 146 00:11:43.320 --> 00:11:48.840 super rare, because it' s usually the opposite. That is, usually 147 00:11:48.320 --> 00:11:56.440 the Central Bank or the Ministry of Finance make real debt issues where they make 148 00:11:56.480 --> 00:12:03.440 auctions of securities or bonds to collect money because they need the money per team. 149 00:12:03.600 --> 00:12:05.600 And whether it is the case, for example, with the Ministry of 150 00:12:05.600 --> 00:12:11.120 Finance, for specific government projects or, in the case of the Central Bank, 151 00:12:11.519 --> 00:12:18.440 for monetary policy. So the opposite happened today. The Central Bank repurchased 152 00:12:18.919 --> 00:12:26.600 securities from the financial sector. Okay then through that auction, because the market, 153 00:12:28.639 --> 00:12:33.080 that is, the banks, are going to have that availability to be 154 00:12:33.200 --> 00:12:37.519 able to repay to the Central Bank a part of the facility, because it 155 00:12:37.600 --> 00:12:41.120 is actually one hundred and four billion. I remembered the expansionary policy that you 156 00:12:41.159 --> 00:12:46.159 mentioned, right, that' s right, so we talked about liquidity there. 157 00:12:46.759 --> 00:12:48.600 Right. In the end, the issue of liquidity is a supply and 158 00:12:48.679 --> 00:12:56.799 demand issue. The greater the supply of pesos or money has the financial system, 159 00:12:56.039 --> 00:13:00.759 because the rates are going to be lower and the contrary, the contrary, 160 00:13:01.000 --> 00:13:05.000 if there is a shortage of liquidity, that is, we do not 161 00:13:05.039 --> 00:13:09.559 have so much money in our pocket to invest, to place in a savings 162 00:13:09.559 --> 00:13:13.639 account, in an investment fund, in a mutual. So, that makes 163 00:13:13.759 --> 00:13:18.399 the rates go up. Ok So, aside from liquidity, I would say 164 00:13:18.440 --> 00:13:22.679 that another important indicator is the monetary policy rate. Exactly explain it. We 165 00:13:22.679 --> 00:13:28.080 ' ve done several videos and I can tell you that no matter how many 166 00:13:28.360 --> 00:13:30.840 videos we do, they come back and ask each other from time to time. 167 00:13:30.879 --> 00:13:33.639 Don' t make people. Obviously, tell me what that is all 168 00:13:33.720 --> 00:13:37.200 those three PM aha monetary policy, then what you eat that one with. 169 00:13:37.279 --> 00:13:43.879 Jennifer, the good TPM. The monetary policy rate is simply a monetary policy 170 00:13:43.000 --> 00:13:48.320 tool that the Central Bank has to say give a reference to how the rates 171 00:13:48.360 --> 00:13:54.000 should be at the interbank level. I mean, if the low monetary policy 172 00:13:54.080 --> 00:14:00.240 rate is a let' s say a sign that the rates are going to 173 00:14:00.440 --> 00:14:03.840 go down and the opposite is, if the Central Bank increases its monetary policy 174 00:14:03.840 --> 00:14:07.600 rate, then the rates are going to go up. So what' s 175 00:14:07.639 --> 00:14:11.200 going on with the Central Bank? Ladies and gentlemen, every month the Central 176 00:14:11.360 --> 00:14:16.200 Bank publishes its monetary policy statement aremes. Every month, everyone. I remember 177 00:14:16.240 --> 00:14:20.080 when all the investors were on the rise that we more slogans, two workshops 178 00:14:20.159 --> 00:14:24.720 get ready to invest it. Now waiting for her good, so it' 179 00:14:24.759 --> 00:14:26.440 s all going up, ma' am, but not the other day that 180 00:14:26.960 --> 00:14:33.159 she was with this exact inconcano. So, in that monetary policy statement the 181 00:14:33.200 --> 00:14:37.600 Central Bank announces is going to raise or lower the monetary policy rate. Then 182 00:14:37.639 --> 00:14:41.000 the military policy rate. At that time it is at seven percent yes ok 183 00:14:41.240 --> 00:14:46.360 and has since the month of November without any variation of two thousand twenty- 184 00:14:46.519 --> 00:14:50.879 three, that is to say that it has all this two thousand twenty- 185 00:14:52.120 --> 00:14:54.240 four and the end of the two thousand twenty- three exact. Then what 186 00:14:54.320 --> 00:14:56.799 does it tell you? That is a good thing that the Central Bank has 187 00:14:58.320 --> 00:15:05.679 been comfortable with keeping rates at current levels. OK. So if another thing 188 00:15:05.759 --> 00:15:09.200 that the Central Bank looks at a lot, for example, is international rates, 189 00:15:09.799 --> 00:15:13.639 specifically the United States, and Laura, that' s the whole expert, 190 00:15:13.080 --> 00:15:16.559 because Laura, as she lives there lara, is really following the FE, 191 00:15:16.720 --> 00:15:24.320 and she' s taking it. We start clearly, precisely, then, 192 00:15:24.840 --> 00:15:31.600 that is, the Dominican economy emulates the US economy a lot, so 193 00:15:31.639 --> 00:15:35.759 what still happens the FE hasn' t moved its cups, so that, 194 00:15:35.960 --> 00:15:41.639 that is, it doesn' t encourage the Bank to adjust its rates locally. 195 00:15:41.759 --> 00:15:46.240 OK, exactly, so I' d tell you that, apart from 196 00:15:46.279 --> 00:15:52.240 the monetary policy rate, another key indicator is inflation, because, well, 197 00:15:52.279 --> 00:15:58.000 the Central Bank has exact inflation targets ok. Right. Everyone who follows economic 198 00:15:58.039 --> 00:16:02.440 tato must know that and what the goal is. You guys are right, 199 00:16:02.840 --> 00:16:07.240 like you' re on YouTube bass. All right, the Central Bank' 200 00:16:07.240 --> 00:16:10.519 s target, inflation targets, or inflation target is four percent plus one means 201 00:16:10.600 --> 00:16:15.519 it can be in the range of three to five percent right. So, 202 00:16:15.639 --> 00:16:22.600 currently the last published data that is warm is three point two percent. It 203 00:16:22.600 --> 00:16:27.039 is within the target range, but it has room for increased inflation, inflation, 204 00:16:27.519 --> 00:16:33.200 which is simply a price measurement. Okay, so my higher inflation, 205 00:16:33.639 --> 00:16:36.159 the higher the prices and you' ll say good, but I don' 206 00:16:36.279 --> 00:16:37.919 t want prices to go up. What happens is that in the end it 207 00:16:38.039 --> 00:16:44.480 is a goal. Then it has the space to do expansionary monetary policy and 208 00:16:44.600 --> 00:16:48.600 to increase inflation. OK. So that' s an important fact that people 209 00:16:48.720 --> 00:16:52.840 have to always look at the Bank' s page centered on the first Yes, 210 00:16:52.399 --> 00:16:57.919 that comes out in the first few, something that with a lot of 211 00:16:57.960 --> 00:17:00.960 macro- economic indicators, that' s the first one that came out accurate. 212 00:17:00.279 --> 00:17:03.480 Yeah, Jenny and you think we' ve already reached the peak of 213 00:17:03.559 --> 00:17:08.279 the cup lift Look. I think so, and I also think they could 214 00:17:08.359 --> 00:17:15.519 be kept a little longer, because still the fet doesn' t adjust their 215 00:17:15.519 --> 00:17:19.559 cups. We have already explained to them commitment. I mean, financial institutions 216 00:17:19.599 --> 00:17:25.599 have commitments to the Central Bank that they must pay OK and that' s 217 00:17:25.680 --> 00:17:30.960 going to be good. We compete for the liquidity in people' s pockets. 218 00:17:30.559 --> 00:17:37.039 Exactly then those commitments let' s say that' s the first semester 219 00:17:37.119 --> 00:17:41.720 of next year. We must have paid everything, I understand, so that 220 00:17:41.759 --> 00:17:45.640 ' s gonna keep them a little bit more ok in this little while. 221 00:17:45.759 --> 00:17:51.240 Jenny, I think you have addressed the main doubt of the listeners and our 222 00:17:51.359 --> 00:17:56.119 followers who have seen how I repeat what you were saying. Since November two 223 00:17:56.160 --> 00:18:00.119 thousand twenty- three has maintained the rate at one to seven percent. Yes, 224 00:18:00.240 --> 00:18:04.000 we are in that July two thousand twenty- four we continue with seven 225 00:18:04.160 --> 00:18:07.960 percent and they who were so used to seeing that when the Central Bank raised 226 00:18:08.079 --> 00:18:14.279 their TPM, because it was that the rates went up then now they walk 227 00:18:14.319 --> 00:18:15.799 like short circuit of what is happening. But they' ve really stayed the 228 00:18:17.279 --> 00:18:19.359 same and look at how they keep rising to rates. Then you see that 229 00:18:19.480 --> 00:18:26.720 not all for fear. Gentlemen, there are other economic variables that affect the 230 00:18:26.799 --> 00:18:30.200 movement of active and passive rates. How is the liquidity that you just mentioned 231 00:18:30.279 --> 00:18:34.519 exactly and the restrictive expansionary policies that the Bank takes? So it is, 232 00:18:34.680 --> 00:18:40.559 all these variables influence and the very interesting thing is qmy Lau, and that 233 00:18:40.640 --> 00:18:45.359 they all know. Monetary policy measures take time to transfer accurately, then not 234 00:18:45.359 --> 00:18:48.000 necessarily, because the Bank focuses on lowering or raising its monetary policy rate immediately. 235 00:18:49.920 --> 00:18:55.000 We' ll see it reflected in the audience and the audience that the 236 00:18:55.400 --> 00:19:02.240 cia that comes Sometimes they saw it on Friday and Monday. That' s 237 00:19:02.240 --> 00:19:06.279 right. However, those are super important tools for people to negotiate the terms 238 00:19:06.359 --> 00:19:11.920 of their investments. Yeah, why, but because that knowledge you have of 239 00:19:11.079 --> 00:19:15.759 those variables we just talked about, it' s going to allow you to 240 00:19:15.839 --> 00:19:21.359 have a better negotiation. At the time of sitting down with your business officer, 241 00:19:21.440 --> 00:19:23.359 look, I' ve got plenty of liquidity. I want to invest 242 00:19:23.680 --> 00:19:27.599 it that you offer me maybe the loan. As King On said, I 243 00:19:27.759 --> 00:19:33.279 have the real estate goal. I know that the TPM dropped it, because 244 00:19:33.319 --> 00:19:37.359 you can wait a moment to see if they' re going to pull out 245 00:19:37.480 --> 00:19:41.279 when you go at those rates, that is, take advantage of rates like 246 00:19:41.279 --> 00:19:44.559 those that approve variables. If that' s fixed, you' re tied 247 00:19:44.640 --> 00:19:47.559 up then in that same order to a person who' s going to take 248 00:19:47.559 --> 00:19:52.079 a loan. Now that we know the rates are high, you' d 249 00:19:52.119 --> 00:19:56.799 recommend them. Then they took pra estamo with a fixed rate at a shorter 250 00:19:56.880 --> 00:20:02.920 time or longer, or it is very unfaithful look, I would tell you 251 00:20:03.200 --> 00:20:06.279 to take it at a shorter time, because if the rates go down, 252 00:20:06.920 --> 00:20:08.759 they will eventually go down, please note that it goes in the banks. 253 00:20:08.880 --> 00:20:15.000 We need them to go well, because because because of the cost, right, 254 00:20:15.160 --> 00:20:15.599 yeah, in the end it' s a cost issue. That is, 255 00:20:17.200 --> 00:20:21.519 banks live from a margin between the cost of the pickups and the cost, 256 00:20:21.920 --> 00:20:26.200 truth, or let' s say what they charge to the public or 257 00:20:26.319 --> 00:20:30.480 the active fees they charge. Then I' d tell you to tie up 258 00:20:30.559 --> 00:20:33.319 as soon as possible with a fixed rate. Maybe it would be a good 259 00:20:33.319 --> 00:20:40.039 move. That' s what I' d do Okay, Jenny, you 260 00:20:40.160 --> 00:20:41.640 can tell us as soon as active rates and passive rates are around. Well, 261 00:20:41.720 --> 00:20:45.680 very diverse. Why because it' s going to depend a lot, 262 00:20:47.440 --> 00:20:51.559 as I commented on what is the need for liquid and that each bank has 263 00:20:51.559 --> 00:20:55.720 for those commitments. But let' s say we' re in a beak 264 00:20:55.720 --> 00:21:00.720 of cups right now. So we' re seeing cups of this one by 265 00:21:00.920 --> 00:21:06.519 ten percent. I have even seen cups of a fifteen on the market for, 266 00:21:06.640 --> 00:21:11.039 for example, mutual certificates of deposit, i e it depends a lot 267 00:21:11.079 --> 00:21:15.319 on the actual entity and obviously on the mos have reached fifteen, i e, 268 00:21:15.799 --> 00:21:18.480 it is seen yes, yes, yes and above all very short term 269 00:21:18.480 --> 00:21:23.559 liquidity. I mean, we' ve even seen fifteen- and- a 270 00:21:25.359 --> 00:21:30.039 - half cups for liquidity. Let' s say one day over night ok 271 00:21:30.480 --> 00:21:34.000 then that, well, obviously it' s transferred to active rates, because 272 00:21:34.119 --> 00:21:37.920 banks actually live off that sea. Yes, yes, then it' s 273 00:21:38.000 --> 00:21:45.160 going to depend a lot on each entity but the cups are around fifteen to 274 00:21:45.279 --> 00:21:48.519 twenty- five percent, depending on the type of loan you take, if 275 00:21:48.599 --> 00:21:52.039 it has guarantees, if it doesn' t have guarantees, act if it 276 00:21:52.119 --> 00:21:59.400 ' s personal, then we' re talking about twenty- two so much 277 00:21:59.440 --> 00:22:03.160 thirty and so exact mortgage is always the one that has the best rate, 278 00:22:03.440 --> 00:22:03.200 but right now I' ve also seen it up to fourteen. He entered 279 00:22:03.279 --> 00:22:07.599 a two to a fourteen. I bought it was mortgage when we' re 280 00:22:07.680 --> 00:22:11.480 talking about me taking it at nine and eight, so it' s really 281 00:22:11.559 --> 00:22:15.440 a pretty big spread, same in America. Laura counts, for example, 282 00:22:15.559 --> 00:22:21.240 your experience and the two exact mortgage loans as Jan I mean, the FE 283 00:22:22.039 --> 00:22:26.319 hasn' t dropped tassa. We' re all waiting for more in the 284 00:22:26.839 --> 00:22:30.440 afternoon, because well, in my house, because I was taking a loan 285 00:22:30.559 --> 00:22:36.720 and I tell you that well, if we see pandemic rates, mortgage loans, 286 00:22:36.880 --> 00:22:41.519 you can get it to a two point five three percent annual taa fixed 287 00:22:41.640 --> 00:22:45.000 for thirty years. Gentlemen, let that be happiness. I have friends, 288 00:22:45.920 --> 00:22:48.079 literally that happiness. I have friends who in pandemic got this cup two thousand 289 00:22:48.079 --> 00:22:51.839 vens, two thousand twenty- one. I bought my first mole in two 290 00:22:51.880 --> 00:22:55.799 thousand twenty- two. I got a five point, five percent. They 291 00:22:55.960 --> 00:23:00.400 ' d already gone up there compared to the pandemic, but they weren' 292 00:23:00.400 --> 00:23:04.200 t that high yet. And recently, that is, about two months ago, 293 00:23:04.640 --> 00:23:07.359 they reached their discharge, the highest they' ve reached seven point twenty 294 00:23:07.640 --> 00:23:11.960 - five percent. I could get mine six point five percent, because it 295 00:23:12.200 --> 00:23:15.359 ' s changed a lot. I mean, there are weeks that you get 296 00:23:15.359 --> 00:23:19.200 to seven hundred and twenty- five, but the next week it went down 297 00:23:19.200 --> 00:23:22.359 to six point five. So today, for example, I saw a news 298 00:23:22.480 --> 00:23:26.000 story that went down a little bit further and it' s at six point 299 00:23:26.000 --> 00:23:29.599 seven. Then it has varied a little bit from that, but it has 300 00:23:29.640 --> 00:23:33.079 remained above six point five. Yeah, for a mortgage loan rate, which 301 00:23:33.319 --> 00:23:37.000 is the most, like you said, the one with the lowest rate. 302 00:23:37.880 --> 00:23:41.599 Yes, the advantage is that it' s fixed for thirty years, but 303 00:23:41.680 --> 00:23:47.240 already that two percent annual testa. That was a pandemic, not even me. 304 00:23:47.480 --> 00:23:49.920 I mean, it' s amazing, how the economy can totally change 305 00:23:51.000 --> 00:23:55.319 your financial landscape, your plans. I remember when my wife and I went 306 00:23:55.400 --> 00:24:00.480 to Orlando in two thousand twenty of September Pandemia and we stayed in an airbnb 307 00:24:00.519 --> 00:24:03.920 and already said wow. But this is a bargain to be okay b and 308 00:24:04.000 --> 00:24:07.960 we got some. We dropped the number. We contacted, like, there 309 00:24:08.000 --> 00:24:12.640 were sales signs. We contacted the seller, he told us the price. 310 00:24:14.119 --> 00:24:19.000 At that time they were like a hundred long, two hundred few, a 311 00:24:19.119 --> 00:24:25.160 super three bedroom apartment near the parks, with beautiful complex, with swimming pool, 312 00:24:25.160 --> 00:24:27.279 etcetera. And I said okay, I, I need to create credit 313 00:24:27.440 --> 00:24:32.079 here, because this is a very good business. The cups were on the 314 00:24:32.160 --> 00:24:36.079 12th and the 2nd and the beak. In case they heard the 12th and 315 00:24:36.160 --> 00:24:41.839 peak and the years passed one or two years. I shared the whole process 316 00:24:41.880 --> 00:24:45.880 of how you create my credit in America through TEUs I have a video of 317 00:24:45.960 --> 00:24:48.440 that. And, gentlemen, the goal has not come, because how do 318 00:24:49.200 --> 00:24:55.000 I enter when already a property that cost you a hundred long and percent. 319 00:24:55.599 --> 00:24:59.240 Now it costs you maybe five hundred thousand dollars and a tas eleven and picks, 320 00:24:59.319 --> 00:25:02.200 that is, you know him changes the game. Yes, the investment 321 00:25:02.759 --> 00:25:07.279 already to make an investment in America. So, you take advantage of it, 322 00:25:07.720 --> 00:25:11.960 you either have to go to states or cities that aren' t as 323 00:25:12.160 --> 00:25:18.799 popular as Orlando Miami, or maybe buy something not so modern and rent it. 324 00:25:18.759 --> 00:25:22.519 But the truth is that both prices and cups have gone up a lot 325 00:25:22.640 --> 00:25:26.039 and as Jenny said, the Fed hasn' t gone down yet. And 326 00:25:26.359 --> 00:25:30.480 that' s what you were saying that we also see a lot of that 327 00:25:30.559 --> 00:25:33.480 fet rate behavior here because I imagine that the Central Bank doesn' t want 328 00:25:33.640 --> 00:25:38.519 to lower that rate so much to be very similar to the fet because the 329 00:25:38.599 --> 00:25:42.359 flows to the United States go away and we don' t want that right 330 00:25:42.359 --> 00:25:45.440 either. Corfecto, no. And in the end it' s also a 331 00:25:45.480 --> 00:25:51.480 topic of what our Central Bank is telling us, that is, if the 332 00:25:51.559 --> 00:25:55.440 rates are so high, what does it mean good, that it' s 333 00:25:55.640 --> 00:25:57.119 looking for investment, that is savings. If the rates are low, it 334 00:25:57.240 --> 00:26:03.519 ' s time to spend, borrow that the coolest part, so the mind 335 00:26:03.599 --> 00:26:08.279 has to call the Central Bank. Look at the hand plan of the indicator 336 00:26:08.279 --> 00:26:11.720 that he said he hears you can see on the Central Bank website and I 337 00:26:11.839 --> 00:26:18.079 feel that' s a long way from it. The agent involves this to 338 00:26:18.279 --> 00:26:22.079 the decision- making that I have to know. How is the inflation that 339 00:26:22.240 --> 00:26:26.119 I have to know what the Central Bank is doing with the monetary policy rate 340 00:26:26.160 --> 00:26:30.480 and the episode is how these help. Yes, people embalm, with the 341 00:26:30.559 --> 00:26:34.079 shepherds, with the economic issues and it is because of the difficulty in your 342 00:26:34.440 --> 00:26:37.960 understanding through a newspaper, through an article, again of a miscounted video, 343 00:26:37.200 --> 00:26:45.000 perhaps accurate, then yes, really jen. I think this episode contributes a 344 00:26:45.440 --> 00:26:48.559 lot so that people can perhaps arouse that spark of curiosity with the economic issues 345 00:26:48.599 --> 00:26:53.680 to enter that page of the Central Bank. Those who don' t know 346 00:26:53.799 --> 00:27:00.720 it are van Central or here they can find everything we' re talking about 347 00:27:00.720 --> 00:27:07.359 now and lots of information, plus all the updated news, right and now 348 00:27:07.440 --> 00:27:11.079 a little break to ask a question that I' m sure will save us 349 00:27:11.160 --> 00:27:15.519 a lot of time, as well as when you' re in a hurry 350 00:27:15.519 --> 00:27:15.799 and you don' t want to waste a minute. Kim and pre- 351 00:27:17.119 --> 00:27:22.119 involves by Whatsapp your next tests in reference to the clinical laboratory, the little 352 00:27:22.359 --> 00:27:26.599 question that you get so, so, so, what stage of life you 353 00:27:26.720 --> 00:27:30.640 feel is fundamental to creating a good relationship with your finances. Uf Lords UFFF, 354 00:27:30.799 --> 00:27:36.559 for me the fundamental stage is since you are a young man. You 355 00:27:36.720 --> 00:27:41.559 know you can already understand that money is built when the basis of effort, 356 00:27:42.039 --> 00:27:45.359 that you have to take care of what doesn' t fall from a tree 357 00:27:45.359 --> 00:27:48.920 and so on. It is already suitable for you to be educated in the 358 00:27:48.920 --> 00:27:52.519 subject. Unfortunately, in our country, because they may not educate us in 359 00:27:52.759 --> 00:27:56.880 the stages, such as schooling, that if university, they do not educate 360 00:27:56.920 --> 00:28:03.039 you perhaps on the subject, but I do urge parents who are involved in 361 00:28:03.119 --> 00:28:08.039 learning how to transfer this information, to this education will finance their teenage children, 362 00:28:10.160 --> 00:28:15.279 even when they go, then, freeing themselves a little bit of perhaps 363 00:28:15.400 --> 00:28:21.839 from schooling, school, school and college, and passing college, and that 364 00:28:22.319 --> 00:28:26.200 they can help them manage the financial products, the concepts of savings, investment, 365 00:28:26.680 --> 00:28:32.440 debt, credit cards to avoid getting into real life now with so many 366 00:28:32.599 --> 00:28:37.519 doubts and perhaps making mistakes that could have been avoided with a simple conversation. 367 00:28:38.319 --> 00:28:42.960 Definitely, we have to be proactive with that financial education that, as you 368 00:28:44.079 --> 00:28:48.480 say, they don' t give us in school, but as parents, 369 00:28:48.839 --> 00:28:52.680 we must perhaps leave that legacy to our children that will avoid many financial mistakes 370 00:28:52.720 --> 00:28:59.759 that we may have made and start from childhood, as you said ah first 371 00:29:00.079 --> 00:29:03.519 baby at five years old with a piggy bank, ok, let' s 372 00:29:03.519 --> 00:29:06.319 teach him the sucker. I was teaching my little nephew the word investment, 373 00:29:06.839 --> 00:29:10.319 that that savings is going to grow more. He' s got to do 374 00:29:10.440 --> 00:29:11.519 nothing and he' s ah but now I want to make it up. 375 00:29:11.960 --> 00:29:17.599 So looking simply is how to proactively educate our teenage children so that at the 376 00:29:17.680 --> 00:29:19.759 end of the day they start, whether it' s their working life, 377 00:29:21.039 --> 00:29:25.680 their life as a couple, because in the right way and make the best 378 00:29:25.839 --> 00:29:30.000 decisions for that financial freedom. Yes, this little time you spend in contributing 379 00:29:30.160 --> 00:29:33.640 to that real financial education that' s going to totally change his life. 380 00:29:36.480 --> 00:29:40.680 There' s some other information you want to make it clear to the public. 381 00:29:40.920 --> 00:29:44.440 We can' t all put the night in. Thank you. I 382 00:29:44.559 --> 00:29:51.680 ' m happy another important fact, which is always good to check is the 383 00:29:51.680 --> 00:29:55.839 image. IMA is an index that measures a country' s economic growth. 384 00:29:56.559 --> 00:30:00.759 Okay. So the i mae is a is an OK sense port. So, 385 00:30:02.319 --> 00:30:10.400 countries usually have economic growth goals ok. So, in the case, 386 00:30:10.440 --> 00:30:15.319 for example, of the Dominican Republic, the World Bank Monetary Fund estimates that 387 00:30:15.400 --> 00:30:18.720 the economic growth of the Dominican Republic will be at the end of the year 388 00:30:18.720 --> 00:30:22.799 by about five percent OK. And currently the image is at four point three 389 00:30:23.599 --> 00:30:30.000 so what I want to say is that good that in order to achieve that 390 00:30:30.279 --> 00:30:36.279 economic growth must come an expansive monetary policy, ok where liquids are provided to 391 00:30:36.319 --> 00:30:40.759 the market, it goes down in the cups and everything that we discuss about 392 00:30:40.960 --> 00:30:45.000 the rest indicates good that they are intertwined, and that is also on the 393 00:30:45.079 --> 00:30:45.880 side of the main page of central white next to and all of inflation. 394 00:30:47.079 --> 00:30:49.960 So this indicator. That too is not a sign of what you were saying, 395 00:30:51.319 --> 00:30:52.640 that perhaps we have already reached the peak to keep it a little, 396 00:30:53.160 --> 00:30:57.160 but perhaps there is that expansionary policy to move money into the right economy. 397 00:31:00.359 --> 00:31:07.559 Jennifer is expected to have some typical auctions in the next few months of the 398 00:31:07.559 --> 00:31:11.559 clear bances, of course already. In the last quarter there are several maturities. 399 00:31:11.720 --> 00:31:15.680 It' s very likely that the Central Bank wants to roll over that 400 00:31:15.079 --> 00:31:18.799 debt, but I' ll see it decides well. I understand right now 401 00:31:18.880 --> 00:31:23.480 that it is not prudent for me to let this liquidity flow into the economy. 402 00:31:23.759 --> 00:31:27.799 Or and then, when I say let flow, it' s that 403 00:31:27.880 --> 00:31:33.720 Kimberley, who had a Central Bank title, which expires in October, I 404 00:31:33.759 --> 00:31:37.640 ' m going to let him win and Kimberly is going to receive both his 405 00:31:37.839 --> 00:31:44.200 coupon money and his equity money from the exact bond. Then they pull out 406 00:31:44.400 --> 00:31:48.119 a new titula so that people re- hook to invest in them with a 407 00:31:48.200 --> 00:31:52.599 longer dance. That is exactly what we expect, indeed that is what will 408 00:31:52.720 --> 00:31:59.480 happen, but at the same time we have the financial institutions that commitment to 409 00:31:59.599 --> 00:32:05.440 the Central Bank. True, then it might be that the Central Bank might 410 00:32:06.279 --> 00:32:10.519 let some part of that liquidity flow, or that some part of its maturities 411 00:32:10.759 --> 00:32:15.480 did not grab them. Lover ok ok. The truth is that the work 412 00:32:15.640 --> 00:32:22.440 of a bank treasurer I see beats you I don' t know how you 413 00:32:22.559 --> 00:32:30.920 don' t That' s a technique, That' s stage and it 414 00:32:31.279 --> 00:32:36.039 ' s interesting, super sir, but very exciting and very nice. It 415 00:32:36.079 --> 00:32:40.079 ' s really like a constant adrenaline. You don' t know in your 416 00:32:40.200 --> 00:32:43.400 day what your day will be like, because you have no idea what exactly 417 00:32:43.400 --> 00:32:45.079 is going to happen. It' s so cool. You have to have 418 00:32:45.119 --> 00:32:49.519 like a nine Walster TV on to see what they' re thinking. Yes, 419 00:32:49.680 --> 00:32:53.759 because everything influences both the market and your own situation, your own commitments, 420 00:32:54.480 --> 00:32:59.440 as a bank. So, during the day you have to plan which 421 00:32:59.519 --> 00:33:01.279 one is going to be uida. If you want you' re going to 422 00:33:01.359 --> 00:33:05.720 have to meet those commitments, how are you going to get it in case 423 00:33:05.799 --> 00:33:08.599 you don' t. Whether it is the truth that you are all different 424 00:33:08.640 --> 00:33:14.680 these two days you are bored with your work, because every day you are 425 00:33:14.680 --> 00:33:15.920 the same. If you don' t want that, you like the banking 426 00:33:16.200 --> 00:33:22.319 and you want me not bored, you want to excite ana, then you 427 00:33:22.440 --> 00:33:29.480 work at a treasury that hear economists who are studying now who don' t 428 00:33:29.480 --> 00:33:31.599 live asking where you recommend me to work. It' s sory, yes, 429 00:33:31.920 --> 00:33:35.119 it' s yes, yes, yes, but it' s super, 430 00:33:35.119 --> 00:33:37.559 super interesting. It' s a very nice job. The truth is 431 00:33:37.880 --> 00:33:43.160 not, and you can tell that you enjoy it You can also see in 432 00:33:43.359 --> 00:33:45.079 your way of speaking that you like to pass too. Oh. Yes, 433 00:33:45.200 --> 00:33:49.599 I really like it very much and that' s why I think I connect 434 00:33:49.759 --> 00:33:53.400 a lot with your content, because I love the simple way you explain things. 435 00:33:54.640 --> 00:33:59.759 I mean, really. They' re all doing a real job for 436 00:34:00.599 --> 00:34:04.839 this awesome one. I really congratulate you, Jenny. Thanks to the truth. 437 00:34:04.839 --> 00:34:07.320 The truth is that the easiest way for someone to put into practice and 438 00:34:07.440 --> 00:34:12.400 change their life is for me to understand it, because it' s no 439 00:34:12.480 --> 00:34:16.280 use telling you a story, telling you information that you know is super important 440 00:34:16.320 --> 00:34:20.000 in your life, but you tell them in a way that makes you look 441 00:34:20.159 --> 00:34:23.280 smart. But he didn' t understand you, he didn' t get 442 00:34:23.280 --> 00:34:24.920 the idea. Then you don' t have it anymore. You don' 443 00:34:25.199 --> 00:34:29.639 t have to make sense ah clear and besides, that' s going to 444 00:34:29.760 --> 00:34:34.599 help people make better decisions than in the end, that' s going to 445 00:34:34.679 --> 00:34:37.599 positively impact your financial landscape and the goals that each of the people who follow 446 00:34:37.679 --> 00:34:42.599 it have exactly and take advantage of the opportunities of the moment, because a 447 00:34:42.679 --> 00:34:45.760 person who doesn' t educate and doesn' t know that the rates are 448 00:34:45.800 --> 00:34:50.360 as they are, maybe you can' t take advantage of those investments at 449 00:34:50.440 --> 00:34:54.960 this higher rate and you keep the same thing in tonces it' s always 450 00:34:55.039 --> 00:35:00.639 good to stay educated and as Kem says it' s that of the news 451 00:35:00.719 --> 00:35:05.880 with technicality, in the end it doesn' t get the least, it 452 00:35:05.880 --> 00:35:05.880 doesn' t get to the communication, because people ok I read it but 453 00:35:05.880 --> 00:35:07.480 I didn' t understand anything or it seems to you. You think it 454 00:35:07.519 --> 00:35:09.280 ' s super boring. Also because, gentlemen, I mean, we' 455 00:35:09.280 --> 00:35:13.960 re serious, it' s boring. I' ve got more fun there. 456 00:35:14.159 --> 00:35:17.960 Yeah, but what do you want to know is how exactly that translates 457 00:35:19.559 --> 00:35:22.159 into my life in sotemanity. Now what do you say. There are times 458 00:35:22.199 --> 00:35:23.840 when they send us news and say talk about it. Please talk to Cucheritas. 459 00:35:24.800 --> 00:35:28.559 Yes, yes, yes, yes, in order to understand it, 460 00:35:29.199 --> 00:35:35.559 yes definitely, for example, at this moment I am spending every expense, 461 00:35:35.679 --> 00:35:37.280 I am measuring it because I want to take advantage of these rates. I 462 00:35:37.320 --> 00:35:42.519 mean, this is a historic moment that yes, that is, reducing your 463 00:35:42.639 --> 00:35:46.400 expenses to a minimum to try to get on as many instruments as I can. 464 00:35:46.679 --> 00:35:51.880 I mean, good advice. We, when we were at our financial 465 00:35:51.960 --> 00:35:57.199 fair last week, finance with Cucharitas, were telling the public, in our 466 00:35:57.280 --> 00:36:00.519 investment talk, of what, gentlemen that you are here at this time is 467 00:36:00.639 --> 00:36:07.440 suitable, because we are facing historically very high rates in many products, so 468 00:36:07.559 --> 00:36:10.760 that you are here to go out and take advantage immediately. I saw the 469 00:36:10.840 --> 00:36:14.719 announcement of the fair. I said no for timing. It' s, 470 00:36:15.039 --> 00:36:19.679 as you can, perfect, perfect, because the truth and the good thing 471 00:36:19.760 --> 00:36:22.679 is that you heard the knowledge and that right there you could put it into 472 00:36:22.679 --> 00:36:25.360 practice, because it' s situations yes, it' s meant or everybody 473 00:36:25.480 --> 00:36:27.199 was already, that is the market, but you' re not. People 474 00:36:27.239 --> 00:36:32.400 were signing again opening up their investments, and that changes lives. This changes 475 00:36:32.559 --> 00:36:38.599 life. Starting to invest is, this truth, something fundamental in your personal 476 00:36:38.639 --> 00:36:40.920 finances. People didn' t see it like that before. People saw it 477 00:36:42.000 --> 00:36:45.480 as saving it, saving it, saving the oz for tomorrow. But now 478 00:36:45.559 --> 00:36:49.679 the mindset has changed you. But if you knew that it' s even 479 00:36:49.760 --> 00:36:52.159 addictive when you see your heritage, grow up, oh, yes, gentlemen, 480 00:36:52.440 --> 00:36:57.920 that' s not what it has, it has no words, that 481 00:36:58.000 --> 00:37:00.320 ' s one thing that you get excited about, you feel like pussy. 482 00:37:00.400 --> 00:37:04.119 I made it, I' m making it, I' m achieving my 483 00:37:04.119 --> 00:37:06.800 goals. I' m going to be able to accomplish this too. I 484 00:37:06.800 --> 00:37:10.760 mean, the truth is, for me, that' s me I' 485 00:37:10.840 --> 00:37:13.880 m telling you, look at my house. I tell you a black hole 486 00:37:14.000 --> 00:37:19.440 of savings aha aha truth, so we tell you my husband the black hole 487 00:37:19.440 --> 00:37:22.840 of the hour. What went in there is not taken out or touched, 488 00:37:22.079 --> 00:37:27.400 okay but is reversed, yes, of course, invested, of course, 489 00:37:28.320 --> 00:37:31.400 everything invested, every exact sitting. And I, that is to see that 490 00:37:31.400 --> 00:37:37.039 grow, gentlemen, that is to have that fi that quote financial forgiveness. 491 00:37:37.159 --> 00:37:43.360 With my partner. He sat down to greet my husband because having that financial 492 00:37:43.480 --> 00:37:49.159 date we talked a lot, because we' re both bankers. Then we 493 00:37:49.239 --> 00:37:53.840 spend all our time talking about ourselves is not ours or that we don' 494 00:37:53.920 --> 00:37:58.800 t have a lot of fun. So we talk a lot about those financial 495 00:37:59.320 --> 00:38:02.119 decisions and you don' t believe it, but I' ve still been 496 00:38:02.119 --> 00:38:05.599 helped by a lot, a lot of sas. I didn' t sleep 497 00:38:05.760 --> 00:38:08.159 all the time. I' m already giving you things that American market time 498 00:38:08.760 --> 00:38:13.320 publishes. I look at my love. We have to make everyone look for 499 00:38:13.400 --> 00:38:15.920 something I love it It turns what does, yeah, it' s really 500 00:38:15.920 --> 00:38:19.440 super good. Oh, that' s good. That' s very important 501 00:38:19.559 --> 00:38:23.199 to have that impulse, that couple and because at the end of the day 502 00:38:23.280 --> 00:38:27.840 all have the same goal. So that you can reach it, first in 503 00:38:27.880 --> 00:38:31.559 a fun way, because you enjoy it and, second, generating interests. 504 00:38:31.679 --> 00:38:36.840 With those apparitions they get to all those dreams faster. Oh yeah, hey 505 00:38:37.000 --> 00:38:39.559 Jenny, that' s too good this episode, so I feel like it 506 00:38:39.639 --> 00:38:43.119 ' s going to contribute a lot. Oh, how cool I have to 507 00:38:43.239 --> 00:38:45.039 make you several. Uh, yeah, when you want, I' m 508 00:38:45.159 --> 00:38:50.280 happy because you say you know that I' m a fan and that the 509 00:38:50.440 --> 00:38:52.679 economy changes so much every once in a while. Or the policies those same 510 00:38:52.840 --> 00:38:54.440 variables, so it' s an episode that can have you a part, 511 00:38:54.559 --> 00:39:00.639 two, three, four totally okay I' m counting on. Well, 512 00:39:00.760 --> 00:39:06.039 well, a thousand, thank you for your time, for your dedication to 513 00:39:06.199 --> 00:39:08.840 supporting us on this subject. Gentlemen, this is an episode that is worth 514 00:39:08.840 --> 00:39:13.880 gold, it' s worth money, so you have to share it so 515 00:39:13.960 --> 00:39:16.840 that more people can have this information and be able to impact it. I 516 00:39:16.960 --> 00:39:22.480 ' ll see you next time. If you liked it you already know how 517 00:39:22.519 --> 00:39:25.039 to share and comment below. See you at the next Chao Bye.