Okay, I Think I’m Done… | Financial Audit

Summary

Financial Audit: "Okay, I Think I’m Done…" — Podcast Summary

Podcast: Financial Audit
Host: Caleb Hammer
Guest: Eli
Date: August 13, 2025

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Overview

This episode features a combative, revealing, and sometimes exasperating conversation between host Caleb Hammer and Eli, a 29-year-old software engineer from New Orleans. Eli presents himself as a risk-taking serial entrepreneur, currently deeply invested—financially and emotionally—in an overseas gold mining venture in Uganda. Caleb, skeptical and at times incredulous, challenges Eli’s choices, mindset, and financial behaviors, highlighting the dangers of overconfidence, the pitfalls of high-risk investments, and the everyday destruction wrought by unchecked debt.

The tone fluctuates between humor, frustration, and incredulity, providing listeners with both an entertaining and cautionary tale about hubris in personal finance.

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Key Discussion Points and Insights

1. Eli's Background & Mindset (01:05–04:00)

• Eli is a software engineer with 8+ years’ experience, earning ~$8,000/month after taxes.
• He presents himself as risk-tolerant, entrepreneurial, and anti–"red tape," eschewing business in the U.S. in favor of risky, overseas opportunities.
• Eli’s current life philosophy: "In your 20s, you should really go all in, full risk... High risk, high reward." (03:00)

2. Ugandan Gold Mine Investment (03:32–15:00)

• Eli claims co-ownership of a Ugandan gold mine (10% mine, 5% mineral rights), citing involvement in structuring deals and managing exports.
• Investment rationale: Belief in emerging market potential (“I believe in Uganda. I'm fully bullish on it.” 00:03, 18:43).
• Admits no profits yet; prior “proof of concept” shipments failed—gold seized in Kenya, buyers in Turkey withdrew, complex logistical and political issues.
• Caleb repeatedly challenges the likelihood of success, referencing high barriers, instability, and the fact that well-connected investors and nations (China) aren’t outbidding for the mine.
• Eli's rebuttal: “Let them cook. We're cooking. The recipe is almost done. The dish is almost served.” (09:06)
• Guest's personal investment is $75,000 in the mine so far, with $130,000 total put into various business ventures.

3. Business Ventures & Serial Entrepreneurship (04:14–17:32)

• Previous businesses include a COVID-testing software startup, which failed to turn a profit due to mismanagement.
• Other forays include U.S. phone reselling tied to government programs ("Obama phones") and investments in a mentor’s luxury clothing brand.
• Relationships with high-profile but tangential personalities (e.g., “Carlos Slim” referenced) form part of Eli’s personal narrative, though Caleb casts doubts on the substance of these relationships.

4. Debt, Spending, and Financial Reality Check (31:23–86:56)

• Despite high earnings, Eli is mired in debt: multiple maxed-out credit cards, personal loans, buy-now-pay-later balances, and even Venmo overdrawn; total debt is upwards of $200,000.
• Massive monthly minimum payments (> $7,000) nearly equal take-home pay.
• Spending habits show excessive eating out, Amazon/Apple purchases, and emotional justifications for supporting his girlfriend.
• Consistently justifies spending and debt accumulation as "temporary" until the big gold deal pays off.

5. Risk, Overconfidence & Clashes of Worldview (22:55–68:16)

• Caleb insists on the mathematical certainty and reliability of "boring" returns like investing in the S&P 500, challenging the myth of high-velocity, high-reward risk-taking as the only entrepreneurial ideal.
• Eli doubles down on his worldview: “I'd rather make it happen now.” (41:55)
• Debates touch on global macroeconomics (BRICS, dollar vs. gold) and the fallacies of misunderstanding inflation, international investing, and the risks of authoritarian regimes.

6. Financial Ignorance & Resistance to Change (70:18–87:45)

• Eli paid $8,000 via PayPal Credit for a "massive economic course," justifying it as critical and “worth it”; Caleb is aghast at yet another example of poor value judgment.
• Proposed solutions (debt consolidation, budgeting) are dismissed or approached with wishful thinking about new investors instead of behavior change.
• Caleb warns that consolidation will only make things worse without changing core financial habits.

7. Personal Relationships & Collateral Damage (17:40–20:00; 51:30–59:58)

• Eli's girlfriend is brought into the discussion; Caleb expresses deep concern she is unaware of the reality and likely to be financially harmed (“This is a disaster. This is a joke. You should be embarrassed.” 87:45).
• Eli maintains that she is supportive and believes in his vision.

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Notable Quotes & Memorable Moments

• “In your 20s, you should really go all in, full risk. Why would I?”
  — Eli (18:24)
• “Let them cook. We're cooking. The recipe is almost done. The dish is almost served.”
  — Eli (09:06)
• “Nothing is more dangerous than someone that is well spoken on a subject that they are passionate about that they are complete morons on.”
  — Caleb (31:54)
• “You are in the top 20%. You are in an incredible position and you are throwing it away... You are damaging yourself. This is a disaster. This is a joke. You should be embarrassed. I’m embarrassed and I’m disgusted.”
  — Caleb (87:45)
• “I've never missed a payment. I manage it perfectly. And that's my problem.”
  — Eli, on seeking consolidation, demonstrating lack of self-awareness (66:56)
• “This is a pathetic life that you are setting up for your girlfriend who has no idea what she’s getting into.”
  — Caleb (51:16)
• “You're a financial loser.”
  — Caleb (57:43)
• "What is wrong with just a consistent 10% return on your money?"
  — Caleb (18:19)
• “I’m an actions guy, not a looks guy. I can look all I want, but the results will speak for themselves.”
  — Eli (33:44)
• "You are overly confident. Your hubris is going to be the downfall of your entire life and you are never going to have a cent to your name and only going to be in debt by the time you’re 80 and you're going to be dying on the Walmart floor just to make ends meet.”
  — Caleb (87:45)

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Important Timestamps

• 01:05 — Eli’s introduction, background, and income
• 03:32 — The Ugandan gold mine story begins
• 09:06 — "Let them cook" — Eli’s confidence in progress
• 12:43 — Personal investment revealed: $75,000 in the gold mine
• 17:32 — Relationship with mentor, prior failed businesses
• 22:55 — S&P 500 vs. risky investing, philosophical clash
• 31:23 — Deep dive into Eli’s credit card debt and spending
• 39:15 — Amazon & Apple spending habits
• 51:30 — Caleb's concern for Eli's girlfriend, personal impacts
• 70:18 — $8,000 on an economic course—another debt justification
• 86:56 — Reality check: minimum monthly payments equal net income
• 87:45 — Caleb’s closing rant: the personal and generational damage of financial self-delusion

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Summary

This episode starkly illustrates the collision between financial reality and entrepreneurial delusion. Despite a strong income and evident intelligence, Eli’s worldview, overconfidence, and appetite for high risk have left him with significant debt, no track record of business success, and questionable prospects. Caleb’s exasperation peaks as he tries to make Eli confront the mathematical (and emotional) consequences of his decisions.

For listeners, this is not just a wild story, but a caution: Exciting deals, global connections, and grand ambitions mean little without proven results, basic discipline, and respect for manageable risks. Sound financial health comes not from bold claims but from steady, informed decisions—and the humility to recognize when a plan isn’t working.

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Transcript

[A]

To watch episodes of Financial Audit a week earlier, check us out on YouTube.

[B]

I believe in Uganda. I'm fully bullish on it. And it's set because we have the right context. We're with the first fame, Uganda. So the president's daughter.

[A]

How much did you put into this?

[B]

That one. It was something.

[A]

You personally.

[B]

Yeah, me personally.

[A]

It is an ineffective government. Everyone's all up in the mines in Africa. No one's willing to invest in this one, not even China.

[B]

China's actually very heavily involved in Africa.

[A]

In your mind, you dumb.

[B]

Now, if you see business in America is the point.

[A]

Hammer Elite is the best YouTube membership on the platform and I just upgraded it. Three exclusive dedicated shows every single day, Monday through Friday. And for this final day, I am paying for you to sign up. Sign up for Hammer Elite in the description or pinned comment below and submit proof of [e-mail] after that, I'll send you a $10 digital gift card that can be spent basically anywhere and in most countries. This is the best membership you'll ever join. That's a promise.

[B]

Hey, I'm Eli. I'm in from New Orleans and I'm on financial audit. And we're here. And I'm here to say that one more cut.

[A]

Sorry, are you here?

[B]

Yeah.

[A]

And you're 29, right?

[B]

I'm Eli. I'm 29. I live in New Orleans.

[A]

We're doing it again.

[B]

And on financial audit. And we are here now. And I'm going to say that I live. I live in New Orleans.

[A]

Okay, yes, we know you live.

[B]

No, I refuse. Yeah, I refuse to do business in America is the point. There's no point. There's so much blue tape. I mean, red tape.

[A]

Okay, Eli, thanks for coming on. Something about doing business. I'm glad to. Are you a business owner? I'm asking. Yeah, usually I ask what do people do for a living? Are you telling me you're a business owner?

[B]

So I'm a software engineer by trade for eight plus years.

[A]

I don't know. What does this have to do with.

[B]

Because it plays into the whole idea of taking funding from those companies and investing into serial entrepreneurship.

[A]

Okay, software engineer in New Orleans. Very good. Not the highest cost of living area, declining city population wise, even before Katrina, but Katrina really emphasized it, so it shouldn't be that hard to live there. And software engineer, however, we once did a thing called Fat Stack Week. You would fit in Fat Stack Week as this is what we call a fly as a fat stack. What is going on? How much do you make? How much do you make?

[B]

Sure. So I make 8,000 after tax.

[A]

8,000 now.

[B]

Monthly? Yeah, monthly.

[A]

Incredible.

[B]

Yeah. Yeah. Well, what's spice up even more? I'm actually deferring the taxes right now. So I'm getting 10,000amonth.

[A]

Why?

[B]

Because of the current financial situation I'm in. And also just the cost of the.

[A]

Current financial situation you'll be in come six months, seven months, eight months max.

[B]

Well, yeah, we have, we have a doomsday clock ticking here for next tax season. Right. But I'm the type of guy, I like my back to the wall. And that's where really the fight comes in.

[A]

Like you're back against the wall.

[B]

Yep. Rocking a hard place.

[A]

That's how we want to live our entire financial situation.

[B]

Yeah, it works. Especially when you're in your 20s. I think that's really good as a 20 year old in your 20s to really full throttle it. High risk, high reward.

[A]

29 I thought.

[B]

Yeah, 29.

[A]

Such as. Okay, yeah, for a second. You're still in your 20s.

[B]

For a second. Yeah. Two more months.

[A]

Come tax season, it won't be a back against the wall. It'll be taking paid back shots against the wall in order to make that bill do.

[B]

Yeah, well, we have a plan that we will.

[A]

We have a plan?

[B]

Yeah, we have a plan that's going to work.

[A]

Let's educate me on the plan then. I would love to become educated, Eli.

[B]

Yeah, sure. So I'm actually one of the co owners of a gold mine in Uganda.

[A]

What the is happening?

[B]

What the. Yeah, actually, no actually, actually. And I could break it down for you too. It makes sense. We talk through it and by the end of this you're gonna understand and see that this is the way to go.

[A]

Co owner, what's your share?

[B]

So my share is 10% in the mine itself and 5% mineral rights of the actual plot of lands that we would take minerals from.

[A]

I'm sure people are gonna be so happy about this. And that is not controversial at all.

[B]

They're gonna love it, you know, because like I said, there's so much red tape in America. I don't wanna do business here anymore. You need to look at emerging economies.

[A]

What business have you done?

[B]

Yeah, so prior in America I have like the COVID testing era when we had everybody was getting COVID test, me and a few guys built like a software engineering app. That was for COVID testing, right?

[A]

Software engineering app.

[B]

Yeah. Well, you would engineer it software wise. We didn't pay for software engineers. We built it ourselves in six months. And then when it was released, people would get their finger pricked blood test and then the results would be on the actual app itself. Okay.

[A]

Theranos 2.0 worked really well the first time.

[B]

Yeah, it went well actually. We partnered with an actual doctor that had an actual medical license.

[A]

Why? You're a mega millionaire.

[B]

Yeah, well, what happened was my business partner.

[A]

White tape. Was it the. The tape that was colored red?

[B]

No, it was not the red tape this time. It was a guy in the business type. Before I learned the business world really that took advantage, treated us like Indian software engineers for contract. Right. That we didn't know what was going on, which we didn't. He made an agreement with a doctor saying we give you a larger share if you cover all the fees for the nurses. Things like that. Come to find out down the road, we were paying at our side of our company just paying those fees. And so we never broke even. We made a good amount of money from that. But it all went to pay the debt that he took out.

[A]

How much did he take out?

[B]

Like 25,000.

[A]

So you only made 20. Your successful business was. You only made $25,000.

[B]

That was what he took out as a loan and they had to take care of it.

[A]

And what does it say to this company today? The test?

[B]

It still exists, but he now is running it as a slightly different name.

[A]

Do you own.

[B]

Yeah, I have 9% shares in it.

[A]

9%. Is it making money?

[B]

We don't know right now. Because again.

[A]

You don't know.

[B]

Yeah, well, this is why. So the reason why is that the original LLC has been disbanded or ended. Correct. And he created another one called. Which is slightly different. And so I'm not sure the legality of that. One day, you know, it's like.

[A]

Can you have talked to a lawyer?

[B]

No, because I don't have the funds for that right now. I'm kind of in other endeavors at the moment.

[A]

You're all.

[B]

Yeah, we're going to backtrack to that one.

[A]

No, well, no, I'm going to go where I want to go and well.

[B]

No meaning appreciate it. I mean as myself one day after we finished the gold operation, I'm going to backtrack to him.

[A]

Operation.

[B]

Exactly. Exactly.

[A]

What is this gold thing? Okay, I have to know.

[B]

Yeah, I'll break it down for you.

[A]

And break it down.

[B]

I got it. I'll break it down. So anyway, from New Orleans with my longtime friends from there. So New Orleans too. Let. Let it pin out here. African American. Right. He did his ancestry test and found the tribes that he was from in Africa. Right. So for several years he was going ahead and, you know, doing philanthropic work, investing the communities. Long story short, we're in Uganda. We have a really.

[A]

You were in Uganda?

[B]

He was in Uganda. He went to Uganda. He spent probably the past six months of the last year there again, working with one of the mine owners, who's a Ugandan guy, and also making lots of networking connections there. Right. And so when it came time, we have this mine there, but we need obviously investments to get the operations going. There's lithium, all kind of other minerals besides gold in there, correct?

[A]

Yes. Venom Roche continent.

[B]

Exactly.

[A]

Is that a proven mine?

[B]

Yes. The Chinese actually came like two years ago and they did a whole technical report on the mine.

[A]

And if it was great, they would be mining.

[B]

Yeah. They were asked for. The Chinese wanted to buy for 2 to 3 million. They said no, because that's really undershooting the value of it. If you have lithium.

[A]

So you're buying for hire with your huge net worth that is substantial when you're not even paying tax.

[B]

This is a strategy.

[A]

Yeah, the strategy.

[B]

So you can do consignment, meaning there's other people who have gold in Africa that don't have the money or funds to get it out of the country. Right. So that's where we come in. We have the export license, the mineral rights license, all of that to export their gold for them.

[A]

Okay.

[B]

And so with a profit of that, what we would do is then go ahead and start renting the equipment to do our own mining.

[A]

So you have gotten profits from that?

[B]

Not yet.

[A]

Of course not.

[B]

It's been about a year and a half. It's a very complicated house. Is there a complicated.

[A]

Very complicated. I'm sure it is.

[B]

Okay. So we did an actual export round. We had an investor that stepped in, like, hey, I'll cover you guys.

[A]

And an investor. For an investor. For an investor. This is about the third line of investment in order to. You get the funds in order to start mining in a mine that you hope it.

[B]

Yes, it's a start. Right. You baby steps, you build it up.

[A]

Especially after baby steps.

[B]

Sure. Yep, yep.

[A]

So anyway, surely Africa.

[B]

Yeah, of course. But I think people really look down to Africa a lot. And as emerging economy, there's so much potential there. And I think people look too much in the U.S. as, yeah, there's investment vehicles in the U.S. but if you're looking for higher returns.

[A]

Higher returns, riskier returns. Exactly. For volatile countries in terms, of course, does that leadership exist in the next 10 years.

[B]

Yeah. High risk, high reward.

[A]

Where does the newest country exist? On the African continent.

[B]

Right. But Uganda is a very long term and more stable compared to obviously Congo and other places. Sure.

[A]

But I am saying there's. There's a reason why many people pick safer investments. It's not saying it's a bad kind by any means, of course, but emerging comes with emerging difficulties.

[B]

Exactly. But we're not scared of those difficulties and we're taking them head on.

[A]

Why would we be scared of any kind of risk? Because we have absolutely unlimited tolerance. Because everything's worked out so successfully on what you've done your entire life.

[B]

Like they say, let them cook. Right. Let them cook. We're cooking.

[A]

That's what they say.

[B]

Yeah, let them cook. The recipe is almost done. The dish is almost served. Yeah, we're almost here.

[A]

Okay. The expert thing, which is you need an investment for the expert thing in order to be able to fund the actual usage of the mine.

[B]

Exactly.

[A]

Not even that has worked at the beginning. So nothing's cooking.

[B]

So this is what happened. Well, we did cook. We're about halfway through 75% of cooking. Right.

[A]

So halfway through 75%.

[B]

Yeah. So an investor met us in New Orleans, Right. And we sat down, he said, sure, I'm going to go ahead and cover all the fees, everything. My partner flew to Uganda. When he arrives Uganda, the investor's like, I'm sorry, actually my financial advisors tell me it's too risky. I'm not going to do it.

[A]

Almost like it's an emerging economy and this thing is not 100% proven.

[B]

And that guy, follow your word. If you say yes and you have a guy fly all the way to Africa.

[A]

I agree with following the word, but I think if someone's putting up likely millions. Yeah. They probably want what is considered a more proven return on investment.

[B]

So this is just for the export some gold. So In Uganda, it's 7% fee to do export taxes for gold. So 7% times the price of gold at the time. Bullion, to be specific. Right. So let's say right now the gold price is 100k, which is not too far from that per kilogram. That would be say for 5 bars 35k. At the time we were doing 15kg. So my partner's in Uganda now does have the money. So I step in.

[A]

We feel extra confident that it has been under an authoritarian regime since 1986.

[B]

Yep, very confident.

[A]

Yeah. Authoritarian regimes in Africa certainly never known for coups.

[B]

Hey, people in China, authoritarian Regime, they still do business there too. They take the risk. There's a lot of countries that's been.

[A]

Proven for multiple decades now, though. Multiple decades now it's not on a continent with endless.

[B]

But by then you don't have time to make the return. If it's already been proven, it's already too late. Right. You need to go to areas where investors won't go as much. I mean, look at all the great Khmer dealers and stuff in the past, all these big companies.

[A]

Vietnam's much more stable and that's an emerging economy.

[B]

Right. But Africa is a different level of extreme of returns. That's where.

[A]

Extreme of risk.

[B]

Exactly.

[A]

Okay, how many of your investments, your little businesses have actually played off? Because again, I would suggest that much because this usually suggests you're.

[B]

Yeah.

[A]

So what has actually worked? Big successful guy.

[B]

So we actually did able to get the gold out of Uganda.

[A]

Besides the gold, what have you done that has been successful?

[B]

Nothing yet. We're still working on it.

[A]

So I absolutely have no trust in anything you're saying in terms of the return on investment that you can have.

[B]

Exactly. You got to work on first, you know, try different things. And that's what I did for several years. And, and now we're on this one and I have proof. And I was able to get the gold out of Uganda. I put my own money up. The problem was the buyer, which we flew to Turkey to meet him personally, was rushing the gold delivery. So last minute we're like, all right, this is the only route went through Kenya, which is going Dubai to Turkey. Right. Well, when it got to Kenya, it got seized up in customs. And so there's 1.5 million bar.

[A]

I would never invest in an economy that is relying on 42% of their economy being from oil.

[B]

Oil. Well, gold reserves there are huge. And our mine is near the border of Congo. So the parts per million are like 0.30 very high. And so just when we start digging, it's going to be a really massive one. Even now when they're doing artisanal type mining, I mean, they're getting one to two kgs every few weeks. And that's just from artisanal, from people in the area using shovels.

[A]

Sorry, 42% live in poverty. I had the wrong statistic there.

[B]

But yeah, but again, it's all.

[A]

No, their oil's not even fully online.

[B]

Yeah, again, we're talking about gold here. We're not talking about.

[A]

And yeah, but they've been trying to get their oil economy online for a Long time now they can't even get that. And you're trying to get gold out of there. Good luck, dude. How much did you put into this?

[B]

That one, it was 75k. 1.75k?

[A]

You personally?

[B]

Yeah, me personally.

[A]

You put in 75, 000?

[B]

Yeah, my partner's in there. And you got into waiting the buyers in Turkey. Waiting. I'm like, these are moments. Yeah.

[A]

Waiting, waiting, waiting forever and ever, ever.

[B]

Well, I set the money. They went ahead and tested gold by the way.

[A]

I'm just going to let you know.

[B]

Yeah.

[A]

Just do it based on knowing some. Some successful people.

[B]

Okay.

[A]

What successful people do with their money. If this was a slam dunk, easy, everyone in the world would be doing this and eating you alive and it.

[B]

Wouldn'T be worth it.

[A]

Would you not basically have access to this?

[B]

Well, right now it's a gold seller's market. Everybody's buying gold. Dubai, Hong Kong, Turkey, all these refineries. You could bring it to Dubai right now.

[A]

So if it was such a good business, many successful people would be doing it and you would not have access. As easy as that.

[B]

The barri to entry is very hard though. It's very difficult.

[A]

Exactly. Which is why the wealthy person would be doing it and not you. Who do you think has better connections? Who do you think has better funds to get in there?

[B]

Well, that's the thing. So now we have really good connections. We are direct.

[A]

And also, if it was actually worth it, China would have up their offer.

[B]

We have. I mean the Chinese, they traditionally always undercut you so cheap.

[A]

They want a good return on their investment. But if it was actually worth it.

[B]

They would still two to three millions of insult. That's why that was not taken.

[A]

Insult. I don't think it's worth insults. Not a personal endeavor.

[B]

No. So now we have really good relationships.

[A]

And how many businesses have you tried to do at this point then?

[B]

With what?

[A]

How many businesses have you tried to do? You opened this conversation with red tape or whatever.

[B]

Yeah. So in the US I also invested in one of my partners and a mentor that was doing the phone program. You know, where they would sell phones and it was like trap phones. Yeah, the little government subsidized phones. They call them Obama phones. You remember those where in every.

[A]

Honestly, no.

[B]

Yeah. The government subsidized phones for low income people. And so you would have these agents.

[A]

Out going, did we stop this?

[B]

They still do it today. Well, the problem was people just go into cricket. Well, they still do it today because two years ago it was going on in LA's operation, you set up tents and you go ahead and people would go check their Social Security.

[A]

And there's a business based on this how?

[B]

Yes. So you partner with the actual companies that have the phone. So Verizon has subsidiary companies that go ahead, give you the phones to sign up for the government offers and you get a certain cutback on that. So I invested in that a couple years ago with my mentor that I met in Miami and that was one of my first.

[A]

Mentor.

[B]

Oh yeah. Oh, good.

[A]

Absolute death. What is your mentor?

[B]

Yeah, so my mentor is from Columbia, but she moved to Miami and she was 19 and she's very well connected in the world. We're talking Carlos, Slim Bocelli family. You know Carlos, I hope, I hope you know him.

[A]

It's not ringing a bell.

[B]

Yeah, it's his financial audit. Carlos Sim was on the Forbes like a few years back.

[A]

So many people on Forbes, I don't know.

[B]

Yeah, he was the richest man in the world though, on Forbes, like, I don't know, is it 10, 15 years ago? Look him up.

[A]

I don't jack off over rich people. Okay. I know his face though.

[B]

Yeah, exactly. You've seen him before, right? He does all claro. The whole telecom industry in Latin America, I don't care.

[A]

The whole base.

[B]

Yeah. So anyway, she introduced me to him. I went to Mexico City, I was, you know, talking to them, getting to know them, basically just getting my, my face into that kind of world and understanding how. Yes I did. And, and it was great. I mean, I talked to him, but he said because I was at the.

[A]

Thing, why you're an uber successful entrepreneur.

[B]

It's about getting the knowledge back that I didn't have anything going at the time that could present saying, hey, invest in this more. So I was just following my guys.

[A]

We all know people like this in our lives, right? And where do they end up? Have we ever seen one of them be successful personally, in my life, no.

[B]

Well, this is gonna be your first.

[A]

You're going to be doing this forever. You'll fall into pyramid schemes. You'll fall into everything. Anything quick.

[B]

No.

[A]

I'm surprised you've even put a year and a half into this.

[B]

You don't touch pyramid schemes at all. But I'm telling you, when you're in Mexico City, his family, the Butchelli family.

[A]

You met a successful rich person once.

[B]

No. Other times too, other events we go to dinners, meeting people.

[A]

Doesn't mean you are going to. You're using that as. Oh, I met this person that Means.

[B]

No, that was used.

[A]

It gave you such a boost of confidence.

[B]

I was using that to validate my mentor and that which she does and what's important with that.

[A]

And the mentor is invested in this. Mine.

[B]

No, I'm not. I'm not bringing that to her because she doesn't see the vision for it.

[A]

Yeah. Oh, you're.

[B]

She's more in the. She's more in the luxury and the real estate side of things.

[A]

She's more in the side where she has made money and she's not losing all her money and she wants successful.

[B]

Well, I've invested her heavily. She's still trying to build a like luxury clothing brand site. So I'm waiting on that return.

[A]

Me.

[B]

Yeah.

[A]

Morons. Morons. I'm surrounded by morons.

[B]

This is a thing. Okay.

[A]

If you want to surround me, go to caleb hammer.com apply. You can come on the show, by the way, but sake. What am I even dealing with here?

[B]

So. Okay.

[A]

Yeah.

[B]

So, yeah, so a few years investing her being a father. That's why I lived in Miami for a year and a half, was to be close to those different deals and watch everything play out. And I saw her Rolodex of connections and I'm like, I want my own. And so I've been building that for the past year and a half and.

[A]

It'S worked out so well.

[B]

It will work out very well. I know it will. I mean, right now, I'll tell you this, look, we have really good context in Ghana.

[A]

Girlfriend.

[B]

Yes, I do.

[A]

What?

[B]

Yeah. Eight months. We make nine. 17 for this month.

[A]

Huh?

[B]

Yeah, we make nine months. Oh, July 17th.

[A]

Okay, awesome. Wonderful. Congrats.

[B]

Yeah.

[A]

Why the is she putting up with this?

[B]

Because she believes in me and she knows I will get it done. She's never once had doubt.

[A]

She's never once experienced this. She has not been surrounded by people like you.

[B]

I've told her the entire story. She knows my business. Everything involves.

[A]

I know. She just has. Has the example of other people like you. This crashes and burns, man. This crashes and burns. Okay, can I ask you just a question before we get into these finances? Because there's too many here to go through.

[B]

Yeah, yeah, go for it.

[A]

What the is wrong with just a consistent 10% return on your money?

[B]

Because I believe in your 20s you should really go all in, full risk. Why would I?

[A]

Because it is your best decade in your life for compound growth.

[B]

But I also travel around the world at the time to go to Turkey, meet the buyers, to set things up that normally you Couldn't do with a family and kids.

[A]

Yeah, and they almost had a coup a few years ago too. You're picking great places.

[B]

Yeah, I believe in Uganda. I'm fully bullish on it. I think the emerging economies are the best place to go because the US has so much red tape. I know a mine owner in Wyoming, in the states here, and he came and sell his gold. Yet he's waiting on environmental permits in the government.

[A]

What's in session with gold? Well, yes, there is red tape because this is why.

[B]

Look, and I saw this coming when we went.

[A]

This is Europe though, man. It's so much easier to create a business here and be successful. Listen, I've done it not to jerk myself off, but look where you are.

[B]

Yeah, but that's not my passion. My interest is in commodities export business and moving things like gold around the world. Red tape.

[A]

Specifically in the only little thing you care about, which is gold.

[B]

No, I mean in America, it's just like everything is involved. It's, you know, red tape involving, like in the mining industry.

[A]

I made it work. Okay, so it's only in mining you only care about.

[B]

That's what I want to do. That's what I know I want to make happen. And guess what, buddy?

[A]

We just found. And this might. Yeah. If it's those rare earth minerals. We just found one of the largest mines ever in the United States.

[B]

Yeah, but that's for other different types of minerals too. Gold. You can keep finding it, but the demand for it so high. And you know why? Because the de dollarization goes.

[A]

Focus on gold.

[B]

Okay, yes, I'm fully bullish locked in on gold.

[A]

So again.

[B]

Mm.

[A]

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[B]

There's a story in that though. Just sitting there. You're safe 10% return working your cute office job. I mean it's worth scary to retire.

[A]

The ability to live a good life.

[B]

Yeah, I've worked 40 years for some company. That's scarier.

[A]

Cut back. You live in a cheap area. You could probably do 20 years.

[B]

I'd rather make you could fire it. No, that's like the whole boomer mentality. You hold up, save up your money, let it get hit by inflation, squirrel.

[A]

It away by inflation. Inflation is not 10% yearly basis.

[B]

I mean look where we're at now. Just people have invested all the years like inflation's raising higher and higher.

[A]

Okay, inflation's like 2.5% right now. Actually it came in today. Sorry, 2.9.

[B]

Yeah. I mean inflation numbers in the US now are going down finally.

[A]

But again they've been down for the last year.

[B]

Long term trends I'm talking about inflation has gradually rose. Long term trend sits inflation historically 10% now this year.

[A]

Yes.

[B]

In value.

[A]

Yeah, absolutely. And it's going to keep going down again endlessly fluctuates.

[B]

But Yes, I know, I know it endlessly fluctuates. That makes sense of course on central banks.

[A]

Of course. Yes, we know we have historic in this country there's a big about a 3% inflation rate on average if you take it across the board. But again average s and P10%. So you are giving a getting a 7% difference there. People are retiring, people are making their lives. Actually Work people are living purpose and they are actually getting to a point of success where they're able to retire. They are able to live a life of meaning.

[B]

Yeah. You're not guaranteed. Okay. You put in your retirement. Fine. By the time there. Look at people who probably retire on Covid time when everything crashed.

[A]

That was the quickest rebound we've ever had in the market. That's incredible. In fact that was one of the best money making opportunities we've ever seen in this country.

[B]

The long term fundamental direction. Right. I believe the U.S. okay. Long turned down. Right. We're looking at bricks. Right.

[A]

Who's the replacement?

[B]

Bricks?

[A]

Brics.

[B]

Russia, China. Brazil, Russia.

[A]

Incredible economy.

[B]

Yeah. They are actually incredible. They put the tariffs right on them and they become so self sufficient as a country.

[A]

They move to China.

[B]

Yeah. And exactly. They're becoming their own entity and own world thing where they're.

[A]

And China has a declining population. The United States doesn't. No one is immigrating to China. So what are they going to do.

[B]

When they have two world's largest population ever and they're all involved in brics in that side of the world. Right. And they're becoming one of the top economies. So I think brics move forward, even try and move away from the petrodollar and overall I think the doll use as the world's currency that everybody uses will be diminishing over.

[A]

So who's replacing the world's reserve currency?

[B]

The BRICS is going to do it. So Russia collection.

[A]

But what actual currency?

[B]

China has their currency for example.

[A]

Again, it's a very controlled central government. Yeah. I mean currency. A lot of people, we're not people won't even invest in the markets in China, man. It's just that's. No one's willing to do that. Where the government would prioritize their specific country over the investment that you're making. So no one's willing to actually invest their money in there as much. And people are willing to put their businesses there for sure. In terms of manufacturing. For sure. But we do know for an absolute fact that they have a declining population and it's going to be two workers to support one retiree in a matter of decades. And that, I mean that's the theme anyway.

[B]

Europe's population is declining at a horrible level. They can't even like scientifically return from that.

[A]

No, no, no. Europe in the United States that is a declining birth rate. But we are having immigration that is replacing it. So we have workers to replace. China does not.

[B]

But that's Destroying Europe. Look at Europe now.

[A]

I mean, okay, that's. This is not the conversation.

[B]

Holy. This is not the conversation to bring it back. Is that gold is the future. They're getting rid of the US dollar reserves and stacking up as in your.

[A]

Mind is so successful.

[B]

It will be. Yes. Again when we get things moving, it's so easy to sell it. I mean you go Dubai, so easy.

[A]

Which is why again, no one else invested in a year.

[B]

It's only been a year and a half.

[A]

No one else has invested in this. No one else is invested in this. Other people obviously no successful people have invested into this. If this was an easy gold mine, people would be all up in it that are successful again. That's where money would be put.

[B]

They don't see the vision.

[A]

No, they see making money and they have proven returns of investment. I understand the doom and gloom. It's easy to be very doom and gloom. And no, not everything's perfect.

[B]

It's a risk on environment now of course. But you look at long term trends here. Long term trends, I tell you gold is going to be the move. It's going to be. If you have a business, you have a gold mine. That's going to be the direction to be in.

[A]

Big guy, what's your financial score? 0 to 10. I could give a about that part of the conversation.

[B]

My finances.

[A]

I care about your finances. I could give a about that.

[B]

I'll tell you one day you're gonna see. Maybe I don't give a month or two.

[A]

This conversation. This is not financial audit, you dumb. You're not running the conversation. Tell me your score. 0 to 10.

[B]

Rate myself right now.

[A]

Like yes.

[B]

Okay.

[A]

I would wait five minutes.

[B]

Okay.

[A]

Answer yes now.

[B]

Okay. Right now, the current stance, I will give it like a 2. It's abysmal right now. Yes.

[A]

And you're doing absolutely nothing that has a proven return on investment that would actually benefit you. Well done. I am not anti gold either. But you're making me sound like I'm so anti anti and so pro. Everything's going to grow forever. But you're just, you're so on that extreme side that you're making me sound like I'm on the extreme other side. And it's moronic. I hate it. Guys, get your financial score. You can take the assessment for [e-mail] or click that link in the description below and make sure you download our dollar wise budgeting app. Take that free trial and sign up for the annual vers to save money and get our budget Friendly Cookbook, which is signed and mailed directly to you. It's awesome. And the dollar wise Central program as well, where you get all of our educational services bundled. The premium version of the app. Check it all out. Links in the description. Okay. I mean, they're telling me that when you're talking to them, you legitimately believe that all of your problems that we have here are going to be solved in the next month or two when business hits.

[B]

Yeah. And this is why I know I actually today my partner's meeting an investor in New Orleans and he's going to fly to Uganda.

[A]

Another investor that we're meeting. We've never known that.

[B]

And they're flying to Uganda together with the cash to buy 5kgs, fly to Turkey, sell it to our buyer there, and it's done and it's set because we have the right context. We're with the first family, Uganda. So the president's daughter, we have the nephew. They were connected to the Ministry of Mines. We have Lois from the public office, Uganda saying they support us now. And so now that we have everything lined up a year, half of. Yes. Lessons learned. Tough lessons, but I call that tuition. Right. We've learned. We've become masters of our trade. He's going back there with the right context and knock us out the park. And when that happens, all this is wiped away. All this is wiped away. But in the meantime, I'm trying to start the bleeding. Stop the bleeding.

[A]

How many people do we know in our lives that are like this? Ladies and gentlemen? I'm sorry. I just. I've seen people.

[B]

I'd rather, I'd rather be that than the opposite. Be like, oh, I'll never make it successful. This will be successful. This, this is success. Chasing your dream, your vision, no matter what.

[A]

No, no, not no matter what. That is moronic statement. Chasing your dream no matter what. No. We need to be willing to stand up and tell people their dreams are dumb.

[B]

This one here is not because of the direction and the logistical things that make sense. Obviously, if you're look, yeah, dumb. If you're talking about your dream for five years and you do nothing. I have so many friends that talk about I want to do this.

[A]

Your dream is an unproven, moronic thing. You're dealing with sketchy mother.

[B]

But we, I moved gold out of Uganda. We have contacts, family there.

[A]

Oh, this guy's so annoying to. Listen.

[B]

Things lined up for success. It's not just the word logical.

[A]

Nothing you've done here.

[B]

I mean, when you have support from the government. You have people lined up waiting for you to come back and export.

[A]

Yes. An authoritarian regime. Absolutely. You have that 42% live in poverty. They've been trying to get their oil industry going forever. They cannot get that offline. It is an ineffective government. Everyone's all up in the mines in Africa. No one's willing to invest in this one. Not even China. You have no idea what the.

[B]

China is actually very heavily involved in Africa.

[A]

In your mind, you dumb.

[B]

They do it on many different places. China's all over.

[A]

Card.

[B]

Yes.

[A]

What's going on with this card?

[B]

Yeah, the platinum card. So I mean, it's AMEX card and I got it for, I mean, years ago for the point game. Right. I mean, of course, you know, the point game. Flight.

[A]

The point game. Here, here.

[B]

Yeah. Guys.

[A]

His absolute logic that is involved with his mind where he's able to speak on it and he's so confident on it and he makes it sound all. Well, now he's gonna say it with points as well, which is to.

[B]

I mean, I had this car before the whole. I even knew what the gold operation was. This was years ago when I just wanted to get some cards, you know, at that time I didn't have much.

[A]

To see you in 20 years, man.

[B]

Oh, you'll see me.

[A]

And you're a poor girlfriend.

[B]

You'll see me in a couple months. Very wealthy, very successful.

[A]

Absolutely will not.

[B]

Well, I'll be excited for that follow up.

[A]

I will not be. Okay, so you've had this for how long?

[B]

I've had this one since pre pandemic. Made it 2017, right after college.

[A]

For the points game. Yeah, just like for the gold game he's doing now. Which is why he's holding endless balances on this and having endless interest accrue, completely negating any kind of points he would ever get. Oh, goody. Oh goody, oh goody.

[B]

The number one YouTube membership just got upgraded. And for this final day you can join for free. Free. Three exclusive shows every day, Monday through Friday. Financial audit post shows exclusive and uncensored financial audit episodes. Our call in show Hammer it out.

[A]

Well then take the train.

[B]

And brand new shows fat and fatter.

[A]

There is no I would go off.

[B]

Brand behind the audit.

[A]

What?

[B]

This was wild Shop smart. And now upgrading from one livestream a week to two. No other channel offers what Hammer Elite provides. Join with the link in the pinned comment or description below. Submit proof of [e-mail] and we'll reimburse you for the first month with a $10 digital gift card that can be spent anywhere in most countries. Sorry, North Korea. This one isn't for you.

[A]

Yeah. This is how we have to do a free trial on here because the platform doesn't currently offer free trials.

[B]

It's ok. It's worth it.

[A]

Yeah, it is.

[B]

This is the final day to join Hammer Elite, the best membership on YouTube for free.

[A]

Let's see what's the limit on here because you are at on a points game card that is accruing interest because he's really good at business strategy and knows everything he's talking about and does everything super successfully. $11,343.75 nothing is more dangerous than someone that is well spoken on a subject that they are passionate about that they are complete morons on.

[B]

The debt from that came from my prior involvement with my business mentor. Yeah.

[A]

That was now what was that prior involvement with this business mentor again?

[B]

I mentioned the phone program, the. The luxury clothes things. Yeah. And look.

[A]

Oh, you are gonna die in poverty. This is gonna be incredible.

[B]

And I wish first time I'm gonna cheer for it. Wish I would have invested more in what I'm doing now than what I'd done with her back then. Because I'm like if I had to.

[A]

Tell you regret this in a couple years and hopefully you actually learn your lesson and just invest in things that have a proven return on investment. 1,000.

[B]

You just became my new motivation here to succeed. I hope prove you wrong.

[A]

I hope so. I prove me wrong and I. I can't wait.

[B]

I'm excited actually. Now. This is gonna be great.

[A]

$1,681.43 in minimum payments. You are lucky you have a strong income. What is your job gonna think when they see they have a lunatic working for them?

[B]

Nah, that's not in their business.

[A]

So they'll be watching this.

[B]

What do you mean they're watching is my job? Yes. No. What's. Who's they. Who's they going to be watching?

[A]

The people who employ you.

[B]

Okay. I could care less. At end of day I'm doing good work and what I have financially is not affecting.

[A]

I get a little nervous. If I had a complete work.

[B]

I've been with them over three years now and I'm one of the best.

[A]

Three years. Everyone and I know just. Yep. We know your personality. We know you think you're one of the best ones. You always do.

[B]

Yep. What are you thinking of now?

[A]

Why the would someone keep you around?

[B]

Hey, good work gets it done. And at end of the Day. That's what matters most, right?

[A]

To a point. To a point.

[B]

I mean, no one's on my team. Like, oh no, he has all this debt, but the code he writes really good.

[A]

It's your sanity the way you speak on things, man.

[B]

I'm able to keep things compartmentalized in different boxes.

[A]

I really hope so.

[B]

Of course.

[A]

And I hope so because I don't want you to get fired either. I'm not even suggesting that, of course. I'm just like, dude, you look like a lunatic.

[B]

Well, at the end of the day, the work I do speaks for itself. I'm an actions guy, not a looks guy. I can look all I want, but the results will speak for themselves. And in terms of soft engineering, I had a good career.

[A]

This $1,681 is a dramatically high minimum payment when you're bringing in $8,000 a month on just one card alone. This is one card out of so many cards that we were talking about. My guy, listen. Huh?

[B]

I said let's keep going. That's just the start.

[A]

Yeah. That's what I was doing.

[B]

Yeah.

[A]

$1,136.26 of interest, not interest of new charges were in the pay in full pay over time and or cash advances was 780, much more than you put towards it, of course. And that had 145 of interest accruing, creating a substantially high minimum balance on that. Then there's the plan balance which you fly in. Plan fees $62 and small payment there. But that was just your minimum monthly payment. Crazy man. What the are you doing? Why are you spending a thousand nine hundred nineteen dollars or sixteen dollars on this card anyway?

[B]

So between the Amex Platinum and Amex Gold are my just everyday use cards. Like those are ones I use for my expenses. And so.

[A]

But you were the points game, just like you're in the gold game now. Just like you'll be in some other.

[B]

Why are you some like the quicksilver card when I get.

[A]

You're losing interest on here, it's getting completely negated. You're not mathematically making this work.

[B]

I mean, either way, I have certain things I have to.

[A]

What are you making next month in.

[B]

Your gold next month? I mean, if we close this deal. I mean 100k commission if we close this deal. Yep. I mean nothing. Scarcity in business, that's always, you know, that's called fraud. If you say I guarantee you this result. Right.

[A]

It's a good hedge. Yeah, it's a good hedge. Nothing's Guaranteed my guy.

[B]

Appreciate it.

[A]

It's gonna make you look real good.

[B]

Thank you.

[A]

Okay. And when do you expect to know for a fact?

[B]

So they're meeting today. Actually during this meeting they're also meeting there. He's already verbally said he's sending over 115k for the deal. And so by end of the month they are flying to Uganda to pick up a gold. So we'll know in aug before I'm 30. This deal will be closed before I'm 30.

[A]

What day?

[B]

What day?

[A]

I want to hold you to this.

[B]

We don't have a specific day.

[A]

Of course not.

[B]

We want to set a date then. Because he said July 23rd is when he's free the investor to fly to Uganda. Okay.

[A]

Day you should expect your pay.

[B]

Okay. The day I should set my pay would be. We said August 20th.

[A]

Who set a reminder. August 20th.

[B]

August 20th.

[A]

Let's follow up. And we need to vet it. I want to see screenshots, everything.

[B]

Let's do it. Let's vet it.

[A]

Good luck. But doesn't all that money have to go into the equipment? Even if you do get paid out which.

[B]

So this is our strategy. When we get that amount there, obviously some will disperse ourselves because we invested so much to cut back on interest. And then from the rest we'll get more shipments. We'll go back and forth. And we have an investor who has a hairy.

[A]

You told me you needed to buy equipment.

[B]

Yeah, but we have an investor that's in estate.

[A]

There's so many investors that want to figure out.

[B]

This one here has a condition. He says when I see you guys deliver gold successfully, I open a large amount for you guys to begin mining. So when we document record us going to Turkey and delivering this gold he will put in a large amounts of capital till we do full scale.

[A]

Large amount.

[B]

I mean talking at least like 300 to $500,000 is what he's agreed to. Yes, yes. He will put a large amount into this operation once he sees us. Yeah. We just need to deliver five bars. He just needs proof. Proof of concept and that's. We're doing proof of concept course careers.

[A]

Can you please create a certification on not being an absolute moron so I can gift it to this guy.

[B]

Great one. Also for a gold trade too. So people can get in the game.

[A]

I'm not even against gold as an actual idea. This is what you're doing. This is insane. Literally insane. Your confidence is crazy. This hubris.

[B]

I mean would you rather have it or under confidence? Huh? If you were to have overconfidence in.

[A]

Something that is proven. How about that would be much better proven. No, not this one.

[B]

Well again follow up.

[A]

Let's see what you purchased on.

[B]

Okay.

[A]

Apple bill, Amazon, Apple, Amazon, Amazon, Amazon Prime D1 Training Netflix Momentous Amazon Whoop. Amazon, Apple Bill, Amazon, Disney Plus Smart Credit. 7 Falls. 7 Falls Admission OpenAI ChatGPT Electric and Ook Mac let you know. All right, it's a restaurant. It looks like Royal George Rafting. Royal George Rafting. Spotify Sandbox VR Apple bill. Then we had plan fees. Plan fees, plan fees, plan fees, plan fees, plan fees, plan fees, plan fees, plan fees and an Apple bill. The you doing? Pull up your Amazon.

[B]

You tit you want the orders?

[A]

Just pull up your Amazon. I can navigate the app.

[B]

Okay, there you go.

[A]

We're screen recording. We'll black out any personal information.

[B]

Sounds good.

[A]

Let's see what we got. Buy your time back. Oh, here he goes. Exit rich. Oh, I know you've had more order than this. Than this. That was just the past.

[B]

No, you probably expanded or something.

[A]

Let's see. Buy again. Lots of sharpies and toothbrush. That's fine hair. Well, this is things that are reoccurring typically so getting a lot of the business books and we like that. But these are definitely like the self help like kind of bull business books. Yeah, I mean that's what I kind of hate. Lots of whole foods purchases, shower head. Getting your girls some clothes from Amazon. Yep, real nice. $8,000 a month income spoiling her Amazon.

[B]

Gotta take care of her.

[A]

Loop tape loop tape bras. Okay. Not crazy. And let's look at your Apple bills, Apple care, Apple TV plus. Apple TV plus is great but again it's a free Instagram. He's paying from Instagram?

[B]

Yeah.

[A]

Be verified icloud. For what? For you.

[B]

What the People look you up when you're doing business.

[A]

I'm sure very important people are looking you up. Google Photos.

[B]

So as you see, there's nothing crazy in there. I'm not going crazy spending.

[A]

No, you're spending on. Restaurants were crazy. It was like a thousand dollars.

[B]

Yeah.

[A]

Minimum. Okay, shut the up.

[B]

When you have a girlfriend, everything's 2x.

[A]

Yeah. It doesn't mean you guys have to go out all the time.

[B]

So we've, we've been adjusting.

[A]

I make, I make money. Yeah, I make money. Pretty good money. My girlfriend and I, we eat at home most days.

[B]

So we kind of did more of a breakfast approach. Now where for breakfast we're cooking at home and now we're working on also the dinner.

[A]

How much money have you invested in businesses thus far?

[B]

Thus far?

[A]

Thus far, 75 for this gold. What else?

[B]

75 for the gold.

[A]

Talk about everything else. Just round. Doesn't have to be a perfect.

[B]

Okay, I'll give you. I mean, the majority of my debt is business. So close to 130,000 or so.

[A]

130,000. Very good. Let's say you invested that over the course of. Since you're what, 25, let's say.

[B]

Yeah, so I started as investing five years ago.

[A]

Yeah. Let's call it 25.

[B]

Yeah.

[A]

So 35 years. 35 years. And how much would you say? Let's say a year. You're investing into businesses as you go.

[B]

A year?

[A]

A year.

[B]

I would say like last year. I mean, that was a big jump.

[A]

A year.

[B]

85,000 last year.

[A]

How much a year? Just give me a number, dude.

[B]

85 last year.

[A]

This year I didn't invest 5,000. All of your income?

[B]

Yeah.

[A]

That's impossible because you have a lot of food scraping.

[B]

Well, that's why there's loans on.

[A]

Let's just call it. Look at the loans. Let's call it. You. Let's call it. You invest, realistically, $40,000 a year.

[B]

Yeah.

[A]

Okay, so $3,333 a month. If you weren't taking out debt to fund it and you're living scrappy to make businesses work.

[B]

Okay.

[A]

Contribute that monthly 12 times a year. Listen, if I put this in the s and P500 and I'm buying Spy and Weeble, I just open up Weeble. I just put it in there, okay? It's yummy. It's delicious. I'm getting returns on investment 10% for the 35 years. By the time you can take things away, your tax advantage, retirement funds penal. Yeah. $16.8 million.

[B]

Okay.

[A]

Which would have been about. Worth about $9 million in today's money.

[B]

Okay.

[A]

Which is pretty damn good. $9 million in today's money. What can you do with that? $9 million times 104 the rest of your life. $360,000. I mean, why that ain't happening? Why wait till you're $360 in today's money? In today's value you could be having at 60 years old that you are throwing away.

[B]

I'm not gonna wait till I'm 60 to have that amount. I'd rather make it happen now.

[A]

You're not going to. This is what happens. Because every time someone like you does that, you don't happen. I'm just saying that's. That's what you've given up.

[B]

Oh, no, it's good to know the.

[A]

Number that you have given up.

[B]

Okay, that's fine. I accept that. I'm completely okay with that. I know the risk and I know the reward.

[A]

I just wish I would. I. I'm not. I love the entrepreneurial spirit. I'm not against that. It's just what you're doing, man. Why can't you do something here? Why can't you do something here that is something more service or maybe software? Why can't we look at something where you can be a endless entrepreneur here, where you keep trying, trying, trying instead of getting involved overseas, Authoritarian regimes, Turkey, all this, this crazy unproved. Why can't you just start something here?

[B]

That was just never my nature and who I am to start something here?

[A]

Let me guess, you're just using an investing app that doesn't invest in you. It is time to change that. Right now Webull is offering up to a 3.5% match when you open an IRA with them. That is real money going into your retirement, not just points or coupons. And that's just the start. Deposit $100 and you get 30 days of Webull Premium anywhere from 2000 to $10,000 sitting around in your account. Move it to Webull and get $200 in cash. And if you worked your way up to $5 million, that's $30,000 in your account just for moving it over. It is not just about the perks though. Webull provides the tools that serious investors want as well. Tradingview integration, real time data, zero commission trades. It actually works on all your devices. And now through September 30th, you can stack even more. Get a $100 cash bonus for a $2,000 deposit, plus a 2% cash back on all deposits and a 30 day premium voucher and a 4% APY booster on any uninvested cash. It doesn't get better than this. So stop overpaying for a platform that gives you nothing back and make the switch to Webull. Go to webull.com kaleb or hit the QR code or the link below. Let's get back to the show.

[B]

I mean, your nature's always called you back to the medical startup. We did there was again mismanaged by the business partner.

[A]

Yeah, it was the dumb app.

[B]

Yeah, it worked though. They were making money, but they wasted.

[A]

That was had to pay off a loan.

[B]

So people are getting tested. Yeah. Anyway, that's the thing. But from there it just got involved more in international business again through my mentor. And that opened my eyes to there's.

[A]

Things I think this mentor was a mistake.

[B]

I would say investing her was definitely like, I regret it. I should have used it on my own business. I would have been through the finish line.

[A]

Okay, gold card. What's going on with this?

[B]

So that's just my everyday like card.

[A]

That's what you said for the last card.

[B]

Yeah, the platinum will gold more. So the platinum is more for like flow flights and hotel when we do. But the gold is like for, you know, guys.

[A]

He has two everyday cards.

[B]

Yeah, two everyday cards. Well, the platinum is only used more for travel. Right. So everyone. And then the gold is for, you know, food. So shopping is 3x spend way more.

[A]

Than we put towards the card. Of course you spend a thousand $532 on there and then it's been an additional $435 on the payover timer cash advance. So new charges $2,000. We have a balance on here of $3,532.69 with a minimum monthly payment of $1,597.79. Now moronically, of course, you invest all your money and take out debt in order to fund your lifestyle into this business. But how do you pay for the now 3000 hours of minimum monthly payments? How do you pay for that?

[B]

Yeah, so I mean let's put more in scales there. So the interest I think is 3,000. The principal is about 2,000 total. So it's 5,000 or so.

[A]

Your minimum monthly payment is 3,000. The two cards we've looked at so far combined, how do you pay that?

[B]

With my salary.

[A]

No, no, no. You said your entire income is going to investing. So how do you pay for that?

[B]

I don't put my.

[A]

Because that can't be impossible.

[B]

Well, now I don't put it towards investing. I put what I need to do.

[A]

Oh, this guy's impossible. This guy's So I mean if my.

[B]

Movement this year I've pulled back a lot on the investments because we put in what we could and now it's more of managing my personal finances until the deals close.

[A]

So now the last car took 30 years to pay off. This takes eight. Yeah, good. The clock. Yeah, let's pay on a 30 interest card until our 30 instead of investing until we're 30. This is going to go so well.

[B]

Is taking a short term, you know, issue like this for, you know, long term success.

[A]

Yes, that shortcut to wealth, always successful. Everyone's incredible. Come on. You're taking a shortcut. A year and a half is a shortcut to wealth compared to a 30 year.

[B]

But I started this journey years ago. Five years ago. Just getting into entrepreneurship in general. So it wasn't like entrepreneurship.

[A]

Yeah, but not this investment. You dick.

[B]

Again. This is the one that's gonna work and it's gonna close all this out. And it'll be a great story by the end of it.

[A]

Come inside. Target. Who even knows what you're getting there? Coffee and Matcha and Chick Fil A. Chick Fil A?

[B]

That's the. The guilty pleasure there.

[A]

The guilty pleasure. You've had thousands of dollars of guilty pleasures before.

[B]

Chick Fil A is like the.

[A]

Shut the up, dude. Ice Tea House. Or Tea House. Happy Lion Cafe. Happy lion Cafe. Chili's PlayStation Network. How do you even. This is so stupid. District Donut Sliders. Brew World Market. Waste of money. Typically just expensive. Cherry Bomb coffee. Coffee shop, Starbucks store. Going to the aloft New Orleans. Why would you even need that? You live in New Orleans?

[B]

No, it was for like drinks.

[A]

Yes. You have so much money. You have so much money. Trader. Going in and getting some BS from Trader Joe's. Most likely because it's very cheap shop. Shake Shack. Okay, that's bs. No, it is not necessary for survival that it's bs. Shut the up. Winning. Got some BS Winning. Gusting BS. Panda Express Coffee House. In and out New Orleans Airport. No. This is so stupid. Towards the lake. Yours, Norris. Organic Juice. Jake and Telly's Greek The Bean Peddler. Rabbit Hole. White water bar. Hungry Bear Java Hoss. Guys. The person you should be taking all your financial advice from. Guys. This guy right here. Dumbass.

[B]

Hey, you guys. Concessions.

[A]

Concessions. Concessions. Shut up. Tatsuya. Tatsu Revenous Cafe. Rendezvous Cafe. Raising Cane's. McDonald's Coffee Shop. Going against some BS burger nerds. Klondo Seafood. Getting some BS chick fil a Evolve Coffee District. Donuts. Texas Roadhouse Donuts Lions Cafe. Getting some BS Coffee Shop. Cabo Veterans. Cabo Veteran. Smoothie King D3 Donuts. Coffee Shop. Shake Shack. Happy Lion. Starbucks Coffee Shop. Lake Town Veterans. Sharita. Sharita. You gotta be kidding me.

[B]

Getting out of breath there.

[A]

You're gone to be kidding me. This is ridiculous. This is moronic.

[B]

It's one category of food which. It's better to cut that out than buying a bunch of crazy stupid things.

[A]

That was a bunch of crazy. What the you.

[B]

But it's one category of crazy stupid things.

[A]

No. And food and drinks and Flowers are all different.

[B]

Dude, you know, you have a girlfriend, you have to buy her flowers.

[A]

Yes, but I can afford it. It's not required for our survival of existence. But you have 140,000 hours of bad debt. 145,000 hours of bad debt. Then business debt of 12,000 hours. Low, low to no interest. Low or no interest at $30,000, total debt is upwards of $200,000. Now we know what comes in. How much did you spend last month?

[B]

Last month? I mean it was probably a slight deficit.

[A]

By the way, may I just say this is just based on. Well, hold on, I'll give you everything here in just a second. But what do you think you spent and that includes investing as well. This last month.

[B]

Okay, this last month. 8, 10 maybe. Probably 8,500. 9,000. Close to 9,000.

[A]

I would say $12,500. 12,500. So you're spending more than you make and then you have minimum payments that you can't afford and you invest all your money.

[B]

Okay, so context for that. At least the 12,000 too. It's some things people have me book or do and then they sent me the money to pay that back. So it wasn't like I was buying 12,500.

[A]

So according to the National Resource Governance, Governance Institute, which has a research paper on setting up Uganda national mining companies. And then according to an additional 15 sources we have here from the World Economic Council, National Resource Institute again, cobra, Nick, Global Institute, pnc Mixed Mining Consulting Science Database, European American Chamber of Commerce. Yeah, you have a 10 success rate. Great. Well I'll be in that 1090 failure rate on Ugandan mine operations for foreign.

[B]

Yeah, due to the context they probably knew no one there. They had no connections. No connections to government. The different ministry mines they had zero. And how many of them actually spent time in Uganda versus some kid in his couch or some other entrepreneur question.

[A]

I cannot actually answer. But are you suggesting you're the only one that's gone in there with any kind of connection? Shut the up.

[B]

I'm not saying that. I never said that.

[A]

Your hubris is.

[B]

I never said are so dead we will be the 10.

[A]

A 10 success rate is horrible. Where you nearly nearly have 100 success rate on a 10 return on your investment with the S P500. Not a promise on investment advice, but come on.

[B]

I would say 5 chance rate because.

[A]

Of our connection this year so far. Interest up to this year so far on both these cards alone. This is a pathetic life that you are setting up for your girlfriend who has no idea what she's getting into. Is she in this building?

[B]

No, she's not.

[A]

Can I call her afterwards?

[B]

If you want to, you can.

[A]

Yes. I need to call her in the financial out of post show and I need her to know the mess she is getting in. She is. She sees an entrepreneurial. She sees happiness around this. She has not seen all the people like you that endlessly circle the drain their entire lives at the hope of a quick dollar.

[B]

She's on my team. She understands. She knows how we're gonna.

[A]

Card. Tell me what's going on.

[B]

Business Inc. Card. So that one again was spent on my prior mentor and business things I.

[A]

Haven'T since the prior mentor.

[B]

Business. Dumb buddy.

[A]

You're still spending on this and you're only making your minimum payment. $367. This is your minimum monthly payment. $12,499.80 is your balance with $242.96 of interest occurring on a monthly basis. Yeah, that's insane.

[B]

Right? But that card's not reporting to my credit right now because it's a business card. So that's not the highest priority right now.

[A]

It's still saying you're losing money. And he has Xbox Live gold being charged on this.

[B]

Yeah. I should cancel.

[A]

Obviously, you got your fees up. The 2000 hours of interest this year so far. What is this? How long does this take to pay off this? Taking this must take decades. This is moronic.

[B]

Yeah, I mean, it'll take decades.

[A]

This was for the clothing brand and other successful investor endeavor that you've done.

[B]

Yeah, that was back then. So again, it was used for that back then.

[A]

A couple years ago.

[B]

Yeah, a couple years ago back then. It's not used for my current endeavor.

[A]

Well, no, you probably can't.

[B]

Yeah.

[A]

Yeah, you can't. You have a limit. You can spend $310.

[B]

It's.

[A]

Yeah, so shut up. That's not something to brag about. Shut the up. Okay, so tell me about this investment and what you did and what you spent this on and now is accruing interest. So actually, you.

[B]

All right, don't.

[A]

Bought a Tesla Model S a few years ago.

[B]

Yeah.

[A]

You think you can afford that while you're doing all this? No, that's like a $90,000 car.

[B]

Let me clarify. That was before I got into all these business investments. So that was before any of that involvement.

[A]

You are so reckless with your money. You are gonna. You are. You are gonna make so much money through your successful career, your life, and you're gonna have zero dollars to show far. In fact you will only be negative net worth your entire life. And it's gonna be so sad to.

[B]

See at least I put that towards an investment and not wastefully on many other things.

[A]

No, Tesla's not an investment.

[B]

I know that and that's why I sold it. To invest in the business.

[A]

One of the quickest depreciating cars. And I love my Tesla. And I'm upgrading to the new crazy story.

[B]

So when I moved to Miami, I had it. Carvana offered me 85, which I got it at.

[A]

Wow, this is crazy. I'm so interested.

[B]

And then someone hit it back end it. And I had to order the part to fix it. By the time I got the part, Elon Musk had depreciated Tesla's value and I sold it like 50k. So I lost 35 on it.

[A]

Oh, that was thrilling.

[B]

Yeah, I know, it's horrible. And then it could have never been more investing though. So yeah, they devalued by that time, devaluation was not as intense.

[A]

Great, so you gave her on your credit card or your life money was spent on the credit card and then you gave her your life money for survival? To her.

[B]

Yeah, I mean loans, credit cards, all of that.

[A]

And the clothing brand. Tell me what happened on that successful endeavor.

[B]

I mean, she's still working on it. Now we have supplies buyers in Italy. Yeah, yeah. I mean at this point I'm more focused on my own endeavors with the gold stuff. I mean.

[A]

Your own endeavors? Buddy, it's your business partners endeavor who's.

[B]

Yeah.

[A]

African American that has lineage back in Uganda.

[B]

Yeah, I mean me and him are the perfect team and we're gonna make it happen. At the end of the day, I have him. He goes to Uganda, he handles those things. I handle a lot of other things involving yet other partners we have in Hong Kong, Dubai, other locations.

[A]

So this guy's so.

[B]

Yeah. So we have a deal right now working on between Hong Kong and Gold Supply. No, the buyer's on board. They're waiting for the financer to get rwa. They're doing block funds.

[A]

Everyone's waiting on someone. Everyone's waiting on some investment in financing. Shut the up, dude, you are so ruined. Oh, this is hilarious.

[B]

No, the goal thing. We have multiple facets and directions. We're attacking it. So one of those will happen. It's a matter of time.

[A]

You're such a silly little goose.

[B]

The goose that lays gold eggs though, hasn't yet.

[A]

Never once.

[B]

It will attempted to be patient.

[A]

$200,000 in debt. Shut the up.

[B]

Yeah, this girl's gonna make some money. Maybe you might come to me for an investment one day.

[A]

Absolutely not.

[B]

We need a new office, Eli. I got you. Don't worry.

[A]

A new office?

[B]

Yeah.

[A]

New Orleans.

[B]

Hey, maybe different locations.

[A]

New Orleans, a declining city, not New Orleans.

[B]

I'll put you somewhere nicer. I want to do that to you. Put you in Miami. There are a lot of crazy people out there crazier than me.

[A]

I never talk about this because honestly, I really don't give a. But here's the reality. I have a net worth that is substantially higher than you will ever even come close to.

[B]

Well, once this gold deal closes, you'll be looking up, not down.

[A]

So even if your gold deal closes, it's not even close. So this is not a jack off test here.

[B]

If you look at mine ownership, that's for sake, man.

[A]

Oh, you are just such an egotistical, delusional.

[B]

Years down the road, we'll be talking about it like, yeah, you're crazy.

[A]

Here you are now, if I'm lucky, I will never see you after this filming has concluded again.

[B]

If you're lucky, you'll see me again.

[A]

Venmo. You have $5,044.54 on Venmo. What is wrong with you?

[B]

That was for the. The gold stuff when we did some cash advances. Oh, this guy.

[A]

Okay, tell me.

[B]

Yeah. When you're in Uganda, you have expenses out there, and you know, the gold market fluctuates, prices change. So we were off by a couple thousand.

[A]

Yeah.

[B]

So I did a cash advance over to there. We did Western Union, and my partner's over there. Right. So he got the cash, and that's what we use to help us when we're exporting.

[A]

Oh, he's over his limit by $44.54. This guy's a keeper.

[B]

Wait, I have. I have this guy that. I have proof. I got it out of Uganda. You could look Nairobi. I videos, proof of life. The 15 bars are in customs there.

[A]

Am I telling you you didn't go to Uganda? No, I'm saying you're over your limit. You more.

[B]

I know I'm over the limit, but that's why we're working day and night to make this happen.

[A]

Yeah, you're over the limit.

[B]

Okay.

[A]

You wouldn't be okay. When was this spent?

[B]

I mean, that was.

[A]

When was it spent?

[B]

You here.

[A]

Then it would not be over the limit if you're working day and night. Shut the. I'm. Shut the. The up you are a financial loser.

[B]

Hey, we start somewhere. We all start somewhere.

[A]

You're going only negative. You need to make minimum 200,000 hours just to get to zero.

[B]

Well, I have other plans too. I'm working to consolidate all this into one, so then it'll stop the bleeding. I'm already working with people.

[A]

Always working with people. Guys, he's working with someone.

[B]

A personal friend of my business partner. He's working to help me consolidate his.

[A]

Never able to do one thing in his life on his own, he always has to have other people. That's a failure of an entrepreneur, by the way.

[B]

Hey, you don't win it by lone wolf. You need a team.

[A]

You. If you are incapable of doing anything yourself, you are never going to be successful.

[B]

What I'm good at and then I let people do, they're good at nothing. I am good at making connections and having plans and visions.

[A]

Your connections have resulted in you only going further into debt and never having one successful investment that has returned again.

[B]

It's a dip down then. We're going up.

[A]

It's only gone down and it'll go. There is no up yet.

[B]

Well, you haven't seen the end of the story yet, so wait for the end of the book.

[A]

We're all lucky. The end of the story is you getting hit by a bus outside of the office, man.

[B]

Hey, then we have life insurance money. And then take a.

[A]

Let me cash it out.

[B]

Yeah, I'll add you after.

[A]

Who the am I talking to right now? This is insane. I did not know this is what I'd be waking up to today. 18 years to pay this off. Shut the up. Shut the up. You're a joke. You're over the limit on Venmo. For a year ago. For a year ago.

[B]

Shade it down. And then used it later for revenue.

[A]

So it wasn't for a year ago then. Shut up, you extra. I have no idea what you're talking about. Or you're just lying. Or you're just saying things to make yourself look better. Shut up.

[B]

I mean, I paid it down for a bit and then it went back up again. That's how it goes.

[A]

Used it for rent too? Out of all things.

[B]

Yep.

[A]

You are incapable of surviving. This poor girlfriend. This poor girlfriend. This poor girlfriend.

[B]

She's not going to be poor for long.

[A]

No, she's going to run and hey.

[B]

I'll invite you to our wedding. There you go.

[A]

No, thank you.

[B]

You will see it. It'll be the grandest one you'll ever see. Sponsored by the gold mine.

[A]

Ugandan gold mine sponsored wedding in New Orleans. I'm sure that'll be very popular there. Yeah, I'm sure that community is gonna really appreciate it.

[B]

Don't worry, I won't forget you when we write the invites.

[A]

Okay, $1,000 in interest this year so far on here. This is stupid. Putting it on rent. Yeah, I dumb. Yeah, not a dumb quicksilver. Tell me what's going on.

[B]

Yeah, that's one of my original first credit cards, actually. I mean, that one was so there's.

[A]

Like nostalgia and that's why you're keeping it when you're purchasing on it.

[B]

I mean, it's good to have older cards, right?

[A]

Credit, sure. But you're maxed out, so any kind of this being over maxed out has much more impact on credit.

[B]

No. Credit utilization.

[A]

Yes, it is a higher percentage impact on your credit than your credit length and age.

[B]

Exactly. But I've been trying to keep up with the overall debt. I haven't had that.

[A]

Okay, well you have it because this is maxed out, so shut the up.

[B]

Yeah, it's maxed out for now.

[A]

Everything is for now. You're a for now person. You're just.

[B]

You're like, you could just not done.

[A]

Outside finding a homeless person and you'll just be beating him down and someone will be stopping. You're like, well, I'm only beating him for now, so it's okay, guys, I'm only beating this for now. It's okay.

[B]

You're like the guy who like, reads a book, never finish it, never sees the ending of it. You read, I finish every book even.

[A]

If I hate it. No, that is absolutely incorrect. I finish every book even if I hate it. And I hate that part me. I hate that part about me.

[B]

Well, then keep reading the story.

[A]

Finish every movie as well. And I hate my personality. Okay, you owe $1,456.83 on here. Why did you come on here genuinely have to know? Because you seem like the most delusional hard set you already know you want to go I've ever met. What's the purpose of you being here? Cuz right now I feel like you're wasting my time.

[B]

I'm just trying to stop the bleeding of the interest rates and stuff and try to steady the ship to hold out long enough to close these deals. And that's one of the main reasons I'm here, is I need a plan to just at least keep things steady until that time comes. I need to buy myself time.

[A]

Okay, so to stop the bleeding Well, I guess I can curate my thoughts to someone's goal, but I still don't fully support this Ugandan thing. But I can curate what we're talking about today.

[B]

Exactly. Let's focus on that. Like how can we meet in the middle and stop the bleeding?

[A]

Thousand three hundred dollars going to eating out alone Miscellaneous bullsh thousand three dollars so there's an answer.

[B]

Yeah.

[A]

Do you budget?

[B]

I have a quick and simplify where I put everything on there.

[A]

Okay. But I don't have a Clearly that's not working. You didn't know how much you spent last month even though it was $12,500 when you brought an 8.

[B]

Again, that was because I had other people. We booked something together and that showed on my report is usually around $10,000. So yeah, the food is the biggest issue.

[A]

Not the biggest. I'd say it's your endless debt. No, it's your endless debt.

[B]

Okay. Because your minimum payments alone right now what's actual the food portion.

[A]

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[B]

It's no, it's 1970 total.

[A]

Okay, so after utility the more am I seeing renters insurance?

[B]

Well it includes like. I mean if you pay like enter the power of course, stuff like that okay?

[A]

Yes. Utilities. You dumb. What do you think that is? Yeah, this guy's a good. Oh my gosh. I'm sorry. I'm sorry. I'm just being insulting. No dogs pissing me off.

[B]

Say all you want.

[A]

Level credit Minneapolis.

[B]

Yeah. So that tracks like your, your payments, your bills. So like the rent, your phone bills.

[A]

That is max. That's it. You cannot pay off. That takes 10 years to pay off your. Your old guy.

[B]

I'm trying to rectify my credit score so I can go ahead and get some form of consolidations like 690 on TransUnion 6.

[A]

Consolidation is not going to help you. It's actually going to damage you. Because what someone like you does. I've only seen it a thousand times on the show but someone like you do does is you take the debt, you consolidate it into this debt. Now you have limits that you can spend here again. And then you spend it. Now you have double debt.

[B]

I'm not doing that.

[A]

No, but that's what everyone in like you does. You can keep having this confidence, this beyond confidence that you know exactly what's going to happen. But I have seen it time and time again. I've seen people doing business stuff like you and they've all failed. We have statistics. 10% successful rate.

[B]

Okay, well it's not zero percent.

[A]

So it's not zero percent. But you could have a much better return on investment for the 75 you. And I've also seen people like you do the consolidation without actually fixing their behavior. And it just goes all the way up. But you can't. You pro. You don't even qualify for them now. Right, because they're all.

[B]

All. Not right now. I'm looking.

[A]

Remind me again, what's Your score like.

[B]

96, 80 depending on the your utilization.

[A]

And debt to income must be just.

[B]

So substantial hard right now to get. So I'm looking at like some private investors to help with like consolidation.

[A]

Private. Who's going to invest?

[B]

Because I've never missed a payment. I've always. Hey, look on my credit history. I've never missed out.

[A]

All private investors. He's been looking for his entire life. Now he's looking for a private investor to consolidate finance. Fine. I'll do it at 100% interest rate.

[B]

100% interest rate?

[A]

Yep.

[B]

I mean already paying the 20s range already.

[A]

Yep. I'll do it at 100.

[B]

Why 100?

[A]

Because why the would any private investor ever take you on?

[B]

Because they see my risk profile and they're miss a payment. I've always managed My debt. I have a perfect history besides the amount of debt, and so I've never once missed a payment in my life.

[A]

I'll consolidate you. You're 100. Yeah. I'll consolidate your 180% debt. I will consolidate it at 18%. It can be paid over the course of 10 years. So whatever that minimum monthly payment equals. Yeah, but I put a lien against every single asset you own.

[B]

I mean, go for it. That's fair. Handshake right here. Watching this.

[A]

Thank you. I just made a lot of money. I'm gonna need to take a look at those assets first.

[B]

Good luck finding them.

[A]

Okay, so it sounds like it's not happening. I mean, which is why would anyone invest in you if they don't have that backup?

[B]

They see like.

[A]

No, they need a backup.

[B]

Okay. Sign all the legal.

[A]

No one's willing to give you a mortgage without. Actually, the same with a car loan without the lien on it.

[B]

Sign all the legal documents you want then to make it happen.

[A]

You don't have anything to put a lien on. Okay, so why would they do this? This is such a beyond risk.

[B]

Again, you look at my history. I've never missed a payment. I'm not going to miss anything. There's a consolidation. They can see all the different borrow statements. All three major borrows. Look at my smart credit report. I've never missed a payment. I manage it perfectly. And that's my problem. I just want to consolidate it together. And that's it. I mean, these cards are in 2529 APR. Yes. It's hard right now. And so if I get down to 18, that would be a life game changer.

[A]

And you'll just build up all your balances again.

[B]

I would not.

[A]

You're not the one. You study the case in the history of this. Well, you're incapable of setting the ship. We have your spending.

[B]

We have proved you're wrong with that, too.

[A]

Then you're going to find a new thing to invest in in a few months.

[B]

No, I'm not. It's locked in. I've invested what I need to do. It's on autopilot.

[A]

I'm done with you. You're. You're. You're. You're lost. You're so beyond confident. You're not willing to listen and tell.

[B]

Me, what's your plan? Tell me what you want.

[A]

I've been trying this whole conversation, man.

[B]

You haven't come up with a plan yet. You've talked about the gold business strategies.

[A]

I want you to get on the steady.

[B]

I want to be on the steady too.

[A]

I want you to get out of these weird risky investments and I want you to just invest in the market. Maybe some real estate. You can utilize your strong income and you can get some good stuff done. Could fire you could retire in 20 years and have an incredible life.

[B]

And that's what I want to do now is I want to stop the risky investments. Cut the faucet off completely. Cut the faucet off completely. That is not at all steady the ship.

[A]

No, I don't believe you. That is not what your language is. Listen, this PayPal credit takes 22 years to pay off. Close to maxed out, as always. You owe $7,178.41. So what's up with the PayPal credit credit?

[B]

PayPal credit. So that was for a course on like fundamental economics. So like interest rates, banks. Yeah, lose your mind.

[A]

This is this guy. This is this guy.

[B]

Gold market, Everything has helped a lot. Just understand the world economy, which.

[A]

That's ridiculous. That's ridiculous because here's the thing. I am not against education. Shut up for a second. I am not against education. There are good educational resources out there. I think Ramses is a pretty good educational resource. The money guy has a good educational resource. We collaborated with a lot of people and we created our educational resources, which by the way, for example, the money guys, they're like 200. Ramsey is a monthly subscription. Ours is literally. You get the premium version of our app and all six of our educational programs that we collaborated with experts on. Which has the lowest refund rate in the agency in the industry for a reason. Because we have the best proven education. We do that all $197 essentials, $197. And they get all of that. You went into PayPal Credit Debt $8,000 to learn about economics, Buddy, I guarantee you our programs are better. And it's beyond cheaper. That's so. That's the most dumb thing I've ever heard. You were sold on a lie?

[B]

No. So it also includes, you know, Bloomberg Terminal, but their version of it, prime market terminal version.

[A]

It's not even Bloomberg Terminal, but it.

[B]

Gives you access to all like bankruptcies.

[A]

Which you don't need.

[B]

I do. I read through all the bank reports to keep up.

[A]

What, what do you do keep up.

[B]

With commodities and the different markets without that? I read through all them. They're more thorough. They have more researchers. They pay, you know, a hundred thousand dollar salaries to create these reports. I read through them all.

[A]

This is Ridiculous. This is so moronic. Dude.

[B]

Okay, so I got hammered, so to say. So let's go with a plan now, huh? What's next?

[A]

You disgust me. I'm correcting your behavior again. Okay, a massive economic course like this is not necessary. Now, a lot of people use the argument there shouldn't be courses because everything's free online. Listen, it's hard to organize things.

[B]

It's just time.

[A]

Shut up. And it's not just time. It is also just hard to find the reliable information because there's lots of different opinions. So that's why we put together our stuff. So I get it. But this is way beyond a. They just used and abused you. And I bet their refund requests are through the roof.

[B]

No, it's a great program that. Plus the terminal.

[A]

He'd do it again and. Oh, he's. Guys, he's ruined. 30.

[B]

30% interest. Now we're.

[A]

Shut up. What is this? Tell me what this is. Shut up. Tell me what this is. Looks like a firm.

[B]

Yep.

[A]

Great. We owe 6,000 hours on a firm, essentially.

[B]

Sure.

[A]

So a firm. $5,855.82.

[B]

Yes. That's all apartment moving costs in December, January when I moved in. Start from scratch, try to get literally everything. So you look at Target. That's for all the kitchen supplies, other things.

[A]

Amazon. He likes sleep. Yeah, you dumb tip. Your firm. I don't even know what your due costs are. Oh, Karna's coming up next. Fantastic. Well, I see a doordash Karna in here. Let's find out.

[B]

No, I've seen those. I refuse to do that.

[A]

Yeah, because you're not that far.

[B]

I'm not that far lost.

[A]

I rather you do that than this Ugandan thing.

[B]

Dude, Jeez. Door dashing.

[A]

This doesn't make sense. I'm not seeing all the. All the previous charges and the one that just happened.

[B]

I mean, it's affirm. Chlor.

[A]

Well, affirm. Even on the affirm thing here, I'm getting Amazon, Helix, Sleep, Albany Park, Amazon, but I'm not seeing those on here.

[B]

That's the account.

[A]

It's so annoying.

[B]

Yeah.

[A]

And I don't even know what your payments are. I'm going to say you probably have like a 500 payment. Payment?

[B]

No. Oh, total?

[A]

I don't know.

[B]

No. Probably a firm.

[A]

I don't know, man. Okay, pull up your klarna.

[B]

Okay.

[A]

Okay. Clara, this is. This is insane. Dude. This is ridiculous.

[B]

Someone on there really quick.

[A]

Sure.

[B]

The Airbnb on there, you'll see was when we did a Group trip. And I had everybody send me the cash for that. And so I put that cash.

[A]

And you had to seek investors?

[B]

No, I put the cash to pay down some higher interest balances because Klarna had lower interest. So I kind of shuffled the cash over that way. So that's why you see the Airbnb.

[A]

What's the interest on the klarna? Usually it's like 35.

[B]

That one. No, it's check and see.

[A]

Tell me, what was the interest rate that you put it towards?

[B]

Oh, for that one. So they have like, a Sapphire card or the Chase card, which is like 25 to 29 range.

[A]

Oh, 25. That is high.

[B]

Yeah, it is high.

[A]

Yeah. This one's a 32. Shut the up. You're the dumbest I've ever met in my entire life, and I hate you.

[B]

Well, there we go. We miscalculated.

[A]

Miscalculated? You just didn't. Look, look.

[B]

Yeah.

[A]

Hey, now, I extra. Never trust you to make any decision you've ever made.

[B]

I mean, then that one is just moving cash around. You need more liquidity. And so even it's a little higher, it's still good to have it to move.

[A]

It's like $500 a month as well.

[B]

You can't use a car off.

[A]

You are. You don't know what you're talking about.

[B]

If I had a car, Max.

[A]

You pretend like you know what you're talking about. You have no idea what you're talking about. Not listen to it. Not going to listen to it. Airbnb Ticket Master. Shut. You're not getting Ticket Master if we're trying to survive. Airbn. This so stupid. Ticket Master. Airbnb just endlessly throughout the history, just over and over and over again. So stupid. So stupid. So stupid. So substituted 25% interest, which you built up right away again. Which is why I know the consolidation won't work, because none of these were paid towards, by the way. 4, 4, 4, 4, 4,. 32% interest rate. Shut up. Shut up. Okay. What is this loan? I don't know what this loan is. It's a $7,173 loan. What is the loan?

[B]

That was when I leased my car. So you get to put down.

[A]

This is a lease. You took. You took up. You took out a loan for the down payment on your lease.

[B]

Yes. Made him stand up. I've never seen this.

[A]

I'm sweating because you're such a. I can't stand your existence. These choices that you're making make no sense. This is such A obnoxious use of time. I'm getting swamp. Everything is unpleasant. It's at a 10% interest rate.

[B]

Hey, it's better than the 20s.

[A]

I don't want to hear your voice. Gah. What do I even call this? What is this? Loan alone. From who?

[B]

I think that is upgrade or upstart. One of those two.

[A]

Okay, let's call it upstart.

[B]

Yeah, let's do that.

[A]

Bi weekly payment. Weekly payment to make it look a little more acceptable. Your girlfriend's getting into a situation where she has no idea. Or she's just literally. You have picked her up when she was waiting for. And she just. Nothing is making sense to her.

[B]

There's more things than finances than people.

[A]

Yes, but you're gonna tear her down and bring her down a dark path. No, there is more than just finances. But you can pull someone down, man.

[B]

We're coming up.

[A]

No, this is a 401k loan. They're saying.

[B]

Oh, that's a. Wait, that one is. Okay, so then the car 1 is probably 5000 and the 401k is 7. Yeah, I had it mixed up there because the balances were both a little low.

[A]

Can't even keep track of your own debt yourself. Dude, I don't. I. I don't even know what to do with you. You're such a joke. What a. What a. Obviously that comes from your pay before it even hits. But if you get fired or you quit your job, that's gonna come due. Good luck. $10,000.

[B]

Of course. I mean, if you're fired. Obviously that's not the best option.

[A]

Or quit. You know, you.

[B]

I'm not going to quit.

[A]

Yeah, you really have no choice.

[B]

Well, wait. Once the gold hits.

[A]

Blue Cash.

[B]

That's basically the gas card for Amex. So they have a benefit on gas.

[A]

I don't want to Hear your voice. $1,587.27 with a minimum monthly payment of $50.75. $177 to charges interest. $35.23. 7 years to pay off. Not even coming close. Not even coming close to paying this off. Let me see what your girlfriend looks like. I want to see if this was a desperation thing or a.

[B]

No, there's no desperation here. There you go.

[A]

Make sure she's not like a burn victim or something.

[B]

No, she's very humble. Beautiful girl, supports me and everything's pretty.

[A]

In fact, she's B Dogs type. You guys know B Dog the translator? Also a member of Hammer Elite. Tons of makeup, some fake things.

[B]

That's bdub's type.

[A]

It is B Dog's type.

[B]

That's not her.

[A]

He likes him fake.

[B]

She's 100. Authentic and real.

[A]

Okay, Yeah. I mean she looks like she's. She's definitely a gold digger for sure.

[B]

She's not. She's had many men in her past that had money that she turned down. No, because she does not want to be that kind of person.

[A]

Okay, so she looks like a gold digger for sure.

[B]

Oh yeah, she looks like it. And even her work friends say that.

[A]

And she's hoping that he unlocks gold. However, she has no idea what this guy.

[B]

She got with me before she even knew the whole gold operation too.

[A]

So we'll let her know. Don't worry.

[B]

Oh, she knows. I mean, she knows now, of course.

[A]

Knows what?

[B]

The whole operation.

[A]

She doesn't understand because you're able to sit there and you're actually able to sound halfway decent on what you're talking about. And that's the most dangerous thing. You're just not in reality with what you're talking about. You couldn't even tell me the success rate for these kind of mines.

[B]

I mean, again, I don't really care what the success rate is. I know what's in front of me.

[A]

Why would I want to know the success rate for an investment?

[B]

I still would have done it because I have the right connections now. So that's all I needed. So I can almost protract out my success rate.

[A]

Hey, gas, gas, gas. Discounts on dumb, dumb, damn dumb. And fees. But you're. I hate my life. And it's all great. Sapphire reserve. Okay, you owe $780.29 on here with a minimum monthly payment of $40. Well done, you little tit. 100. Oof.

[B]

I just said that's a lot better than the other ones.

[A]

You don't deserve money.

[B]

Bright spot in the the scheme of things.

[A]

$168 of purchases. $15.27 of interest accruing Sweetwater Sound. $130.73 for what I play guitar for. Oh my gosh. You should just. You are all over the place. You have. Nothing makes sense. Nothing makes sense that you do. It's okay to have a hobby, but just your spending is beyond out of control. What you prioritize, what you're trying to do in life makes no sense. You're such a mess. You're a mess.

[B]

And my priority is business. The near term priority is now to stabilize the ship.

[A]

You're not even saving for your taxes. Dude.

[B]

Yeah, I know it's. You're not coming. Clock is ticking. Clock is ticking.

[A]

Yeah. It's not going to be an insignificant amount of money for your. For your earning.

[B]

I know it's going to be big.

[A]

And IRS is not who we're with.

[B]

I know you don't want to mess with them, but it's coming regardless. You are. Well, that's what I'm talking about.

[A]

No, no, no. Even if I gave you the most aggressive plan, there is no stabilizing the ship before taxes come due. This is so beyond egregious. There is no stabilizing that.

[B]

This.

[A]

The only thing if we want to prioritize IRS is you just don't pay your debt, allow them to all your credit and go into collections and destroy you. And you're just saving up for taxes.

[B]

Yeah, I'm not doing that.

[A]

Exactly. I don't. I see no plan. No plan gets you there. I don't see a plan, especially not with your life.

[B]

I mean my business plan, that's what's going to make it so I have that much belief in it that I see the train coming.

[A]

Restaurant, restaurant, restaurant. Also, it looks like, like great use of time instead of paying taxes. You have wealthy parents?

[B]

No, my dad's a marriage of family counselor. My mom homeschool.

[A]

They can make money. That can make money the first.

[B]

I mean you marriage, family account. You can. Yeah. I mean he's 77 now, so he's one main financial.

[A]

What's this 9210. Is that the. What is that? Is that loan on the car?

[B]

No, that's not the loan on the car.

[A]

What is one main financial.

[B]

So that's when I was waiting for my bonus to come. So I, I used that out to clear things up.

[A]

Dude, dude, what are you doing at this point, like I've lost all just like surprise. I'm just like, what the are you doing with your life?

[B]

Well, there's a start. No more surprise right now. You're just numb.

[A]

I am numb. $9210 minimum monthly payment $396. At least you've made your minimum payments for a few months, but I mean, it's only been a few months.

[B]

Again, I don't miss payments.

[A]

So when was this your personal loan or your bonus was supposed to hit?

[B]

The bonus hit in. I think it was in February.

[A]

Why couldn't you survive without your bonus?

[B]

Because I moved in my apartment in December, so I had like, had nothing in there at all.

[A]

How many bedrooms do you have?

[B]

One bedroom, one Bath.

[A]

This is expensive. Where are you?

[B]

So it's in Meadow. You're just 10 minutes from New Orleans. And they just finished building it it in December like when I moved in. So I was waiting like a year and a half.

[A]

It's quite expensive for New Orleans. One bed, one bath.

[B]

Yeah, it's their testing luxury marketing ready right now. And so it's.

[A]

You think you deserve luxury?

[B]

Yes.

[A]

I hate you.

[B]

At least we established that. Pretty sure I was clear 30 minutes ago.

[A]

No, this is one of my most natural reactions. But I. I'm starting to dislike you as a person. Person.

[B]

Yeah. That's fair. We all have our beliefs in our opinion.

[A]

Because you have a disgusting mindset.

[B]

No, I think I have one that's rare and that make a lot of things happen that most people don't have.

[A]

Okay, here's upgrade. $27,631. What the is that?

[B]

So that was one of the loans I took out for the Uganda gold export. Yep. Again, it was a last minute thing. He was in Uganda. We had to get it out. So I took out two loans for that.

[A]

And how much does your business partner spent? My business partner, the one who owns a bigger share. Right.

[B]

So I mean he has more of like the sweat equity on the ground.

[A]

Equity. Yeah, yeah.

[B]

I mean without him this would be impossible.

[A]

Yeah. How much does he put into it?

[B]

But probably, I mean on his side probably 30,000.

[A]

Okay.

[B]

For what?

[A]

Equity percentage.

[B]

For his equity percentage.

[A]

What's his equity percentage?

[B]

It's like 35%. He's on the ground in Uganda doing a day to day buddy.

[A]

I will prepare the news for you and get it ready for a couple months from now.

[B]

Okay.

[A]

It's. It's going to be lubed up. Ready to go.

[B]

Go. Let's do it.

[A]

Oh, big guy. Oh, big guy. I wouldn't be laughing. Your life is over.

[B]

No.

[A]

$869. I mean I don't even. These minimum payments at this point, do they even. Do they even fit in the budget? Okay, we have another upstart. Fin wise. This looks like maybe this was the down payment for the car.

[B]

Yeah, that was the one I miscalculated.

[A]

Yep. Ladies and gentlemen. Wow. And we found you a day before filming this because we had a cancellation. Yes, this is.

[B]

Yes, I see that. One of those. But I applied last week. Thursday. So it was a quick turnaround.

[A]

Really was.

[B]

It takes shows. Look, I'm willing to like last second show up and figure something out here.

[A]

We get literally hundreds of applicants a day. But yeah, we don't really get people that cancel as much anymore.

[B]

But yeah, I mean, it's just priority to show up. It was like last second, I moved everything else out the way, despite the craziness you see here. Now, I do want to set this ship, however that's possible.

[A]

Yeah, but we just disagree on that. And I think your ship is going to sink.

[B]

I mean, we disagree on what I've done from the past, but going forward.

[A]

No, we disagree on that, too.

[B]

Well, yeah, the past 145 going forward.

[A]

Shut it for a second. Shut the up. You owe on this $3,877. 145 is your minimum monthly payment. Listen. Okay, 1,681. Before I even look forward. I'm so interested. Plus $1,597.79. Plus $367, plus $160, plus $49, plus $239, plus $500, plus $500, plus. Yeah, your 401k loan of $160.22 cents. Plus $50 and $0.75, plus $40, plus $396, plus $869, plus $145. Yeah. Your minimum payments right now only give you wiggle room of a thousand 250 so far. And we're not even done. Yeah, that's your wiggle room for survival. So getting the boat study? No, it's like it's. It's literal bankruptcy. But you won't have changed your behaviors or fixed anything in your own life, so you're going to end up right back here again. And I've had that conversation multiple times. So there is no steadying the ship, no the blade. Not without you completely.

[B]

You can look at the trend of how I invested business the past years.

[A]

And it's not just the investing business. I saw you're spending last month where you weren't investing in the business. You spent $12,500 where you brought in 8,000. So I don't want to hear it. Sofi. Big. Here's another one. What is this? Private student loans or what? It's a personal loan.

[B]

What's the balance of that one?

[A]

This one? The balance of this one is $12,137. The minimum payment is $713.

[B]

Yeah, that was when I was in between jobs, and so I low, you know, capital at the time, so I had to put that on cards and I reconsolidated cards onto that one.

[A]

How did it work?

[B]

How did it work?

[A]

How did it work?

[B]

I mean, then I got involved in the business.

[A]

How did it work? Did it work out? Did you rebuild the debt?

[B]

Yeah, on business. This was when I first started.

[A]

Exactly. There you go. This is worthless. This is a waste of my time. You're a broken financial individual. You will never steady this ship. Your minimum monthly payments equal your net income. Your girlfriend has no idea what she's in door for. This is disgusting what you are doing in life in this mindset you have. And honestly again, the most damaging thing here is that you are able to sit there calm and collective and speak on this like you know what you're talking about even though you don't and you think it's because of connections. I know people like you. The serial entrepreneurial. I employed one at one point as well. He was the person that was obsessed with endless connections and he never actually succeeded anything. He just worked to work on something. He never actually achieved anything. You never are either.

[B]

I will say.

[A]

No, you won't. This is how you do it. I know people like you spend all the money on the entrepreneurial courses, you spend all the money on the self help books and you never do a thing. And you sit there, you're able to use the correct words to sound like you know what you're talking about, but you're not able to give any statistics and any success rates. You can't even speak about the country hardly in terms of the poverty rate or authoritarian regime or they're trying to get oil off the ground and they can't even do that when that would be the lifeline of their country. You can't talk about anything and all you obsess over is connections, connections, connections. Oh, I need an investor for this. This is going to work out, guys. I'm going to change it. Hey, I'm only just doing that now. I'm not going to do that in the future. Beating that down. No, this is, and I need you to hear this in like this rant that I'm doing because you are headed down a dangerous path that you don't even see. You are in a privileged position beyond privileged position beyond privileged position to live an incredible life. Incredible, incredible. Beyond much higher than the median, the average, whatever American you want. You are in the top 20%. You are in that incredible position and you are throwing it away. You are damaged your girlfriend, you're going to damage any future children you might have. You are damaging your friends, you are damaging your family. You are damaging yourself. This is a disaster. This is a joke. You should be embarrassed. I'm embarrassed and I'm disgusted. This is not behavior that you should be doing. You are overly confident. Your hubris is going to be the downfall of your entire life and you are never going to have a cent to your name and only going to be in debt by the time you're 80 and you're going to be dying on the Walmart floor just to make ends meet. Dude, it's. It's so Hammer Financial. Score. Go into the minds yourself you dumb guys. Join us in the post show. Sign up for Hammer Elite. It's free this month. Month. I'm going to call his girlfriend and I'm going to let her know what the is going on because she needs to hear it. She needs to hear it. What a joke. Joyden Sign up for Hammer Elite. Submit that proof of purchase to hammer elite.com and I'll send you a digital gift card that covers that cost. Only for this month. I'll see you there. I need to talk to her now.

[B]

Go for it.

[A]

You have no idea how bad his finances are in these bull investments that he's doing and I need to expose him for everything elusive members content. Click the link in the description or pin comment below and watch thousands of hours of extra and uncensored content.