The Weekly Money Clip: March 4th Episode - Expert Analysis on Google's Gemini A.I., College Loan Policies, Bitcoin Projections, Cybersecurity, and Market Trends

[00:00:00] The fallout from Google's Gemini errors, no loan colleges might have a future, the continued

[00:00:17] Bitcoin bonanza, and why the White House wants you to stop coding in C sharp.

[00:00:23] Welcome back to the weekly money clip. In a market with millions of podcasts,

[00:00:27] it is tough to stay on top of the essential business

[00:00:30] and tech stories beyond headlines.

[00:00:33] This week, we will be counting down five key moments

[00:00:35] from last week to give you context for the week ahead.

[00:00:38] As always, clips are under five minutes

[00:00:40] from voices you trust, adding context to headlines

[00:00:43] from the week behind

[00:00:45] to prepare you for the week ahead. Before we jump in, let's review the week's top headlines.

[00:00:50] This past week was dominated by several key developments. Invesco joined a growing list

[00:00:56] of major U.S. investors withdrawing from the Climate Action 100 Plus Coalition,

[00:01:01] highlighting a shift in investor strategies regarding climate change initiatives.

[00:01:06] Meanwhile, financial markets witnessed movements influenced by AI excitement, with the S&P

[00:01:12] 500 and NASDAQ reaching record highs driven by technology stocks.

[00:01:17] Companies like Nvidia have seen their market value surge, reflecting the growing impact

[00:01:21] of AI on market valuations.

[00:01:24] In the legislative arena, Virginia lawmakers have passed a bill to legalize and tax skill games,

[00:01:30] pointing to changes in the regulatory landscape for gambling and betting machines.

[00:01:34] This move could have significant implications for businesses and the state's revenue collection efforts.

[00:01:40] Additionally, global finance ministers and central bank governors have faced challenges in reaching consensus at G20 meetings, with Brazil striving for agreement amidst divisions.

[00:01:51] The situation underscores the complexities of international finance and diplomacy, especially regarding contentious issues like war language in joint statements. Corporate actions also made headlines,

[00:02:05] with Reddit aiming for a significant valuation

[00:02:07] in its upcoming IPO, but perhaps lower than prior estimates.

[00:02:12] This reflects adjustments in market expectations

[00:02:15] and the evolving landscape of social media platforms.

[00:02:19] Furthermore, Boeing's discussions

[00:02:20] to acquire Spirit Aero systems have been reported,

[00:02:23] indicating ongoing consolidation and strategic maneuvers in the aerospace sector.

[00:02:29] These developments paint a picture of a dynamic financial and business environment with climate

[00:02:34] considerations, AI's growing influence, regulatory changes, international cooperation challenges,

[00:02:40] and significant corporate moves shaping the week's news.

[00:02:44] This week, we welcome James Breslow,

[00:02:45] Jennifer Horn, Michael Lee, Simpson Garfinkel,

[00:02:48] and Kenny Palkari to the show.

[00:02:50] At number five in our countdown,

[00:02:52] we begin with James Breslow covering the fallout

[00:02:55] from Google's recent Gemini failures.

[00:02:58] Breslow is an attorney,

[00:02:59] former gaming executive, political commentator,

[00:03:02] and the host of Double Down Podcast.

[00:03:04] Here he discusses the recent developments regarding Google's AI system, former gaming executive, political commentator, and the host of Double Down Podcast.

[00:03:05] Here he discusses the recent developments

[00:03:07] regarding Google's AI system, Google Gemini,

[00:03:10] which was unveiled just this week.

[00:03:13] It has come to light that the system has been programmed

[00:03:16] with a woke bias, a revelation which has turned out

[00:03:19] to be quite embarrassing and significantly costly

[00:03:22] for the company.

[00:03:23] Breslow goes on to say, there are two critical aspects of this situation

[00:03:27] that are important to note.

[00:03:29] Firstly, it signals to other corporations

[00:03:31] the importance of prioritizing profits

[00:03:34] over political stances.

[00:03:36] Secondly, it underscores the fact

[00:03:38] that although we often perceive AI as an autonomous entity,

[00:03:42] it is entirely human created.

[00:03:44] AI doesn't just self-generate,

[00:03:46] it is intrinsically reliant on its human programmers.

[00:03:50] Here is the rest of Breslow's analysis.

[00:03:52] Hey everybody, James Breslow for Center Clip

[00:03:54] talking about Google's Gemini AI app

[00:03:58] that was released this week to much fanfare,

[00:04:01] but for reasons it did not intend,

[00:04:05] Google got its hand caught in the cookie jar

[00:04:07] as people were using it and realized

[00:04:10] that Google Gemini has been designed to be woke.

[00:04:15] This is another example of Google getting caught

[00:04:18] showing a left wing bias.

[00:04:21] And it is my hope that the backlash that it has received, similar to Bud Light's

[00:04:28] backlash that it received, is going to finally teach American corporations to go back to

[00:04:34] the basics. Stop playing politics, worry about profits. It's all supposed to be about adding

[00:04:42] value for shareholders, not politics, and one company after another

[00:04:47] keeps getting in trouble for this.

[00:04:49] Well, you've seen it now with Google,

[00:04:51] we saw it with Bud Light,

[00:04:53] we saw it with Major League Baseball

[00:04:55] pulling the All-Star game from Georgia

[00:04:57] over their voting laws,

[00:04:59] the Major League Baseball getting involved in voting laws,

[00:05:03] Disney in Florida causing themselves problems

[00:05:07] because they got involved in sex education in elementary school.

[00:05:11] Why is Disney weighing in on sex education in elementary school?

[00:05:15] For Google, this is at least the third time that they have been caught.

[00:05:21] They were caught having their search engine

[00:05:26] they have been caught. They were caught having their search engine sending out left-leaning articles in response to inquiries. This was presented to Congress

[00:05:32] and Google had to adjust their search engine based on findings. They also have

[00:05:37] been busted for a left-wing bias in censoring speech on YouTube. I can

[00:05:43] personally speak to this. My Hidden Truth podcast had three episodes pertaining

[00:05:48] to COVID taken down by YouTube

[00:05:52] and my entire channel taken down.

[00:05:55] I had the actress Sally Kirkland come on my show

[00:05:58] simply to say what she suffered

[00:06:01] as a result of getting the vaccine.

[00:06:03] She suffered vertigo, fell and broke her wrist,

[00:06:07] and she just wanted to warn people

[00:06:10] about this side effect of the vaccine.

[00:06:12] I had a University of Wisconsin medical doctor on

[00:06:18] to say that if you've already had COVID,

[00:06:20] it's best not to get the vaccine.

[00:06:23] And I had the attorney on representing LA's

[00:06:27] firefighters saying that he thinks that to

[00:06:30] mandate the vaccine is unconstitutional.

[00:06:33] Those three voices were stifled, cut out by

[00:06:37] YouTube for obvious political reasons.

[00:06:40] So again, hopefully this will be a lesson that

[00:06:43] we will go back to old school methods of running companies.

[00:06:47] When I had my company that I ran, it made it clear that politics does not belong at the workplace.

[00:06:54] Do not expect management to be taking positions on political positions.

[00:07:00] Our business is to take care of our customers and to focus on our shareholders and nothing less.

[00:07:07] And that's what will restore America business to greatness is what made us great to begin with.

[00:07:13] We do not mix government with business. We do not mix politics with business.

[00:07:17] That's what has historically made America great.

[00:07:20] Last thing I'd like to say about Gemini is just the human element of it.

[00:07:24] It just goes to show we think about A.I about Gemini is just the human element of it. It just goes to show

[00:07:25] we think about AI kind of just being created out of nowhere, but it's humans that are the ones that

[00:07:31] train the AI. That's what this Google Gemini demonstrates. I was just recently reached out to.

[00:07:37] They wanted me to teach AI how to write. They reached out to me presumably because I'm a lawyer. They offered me $40 an hour

[00:07:46] to teach AI how to write. So the best AI is going to be created by the best minds. Whatever company

[00:07:56] is out there focusing on putting the best minds to work as opposed to political angles is going to

[00:08:03] create the best eye, which is ultimately going to create the best I which is

[00:08:05] ultimately going to succeed. Google has stumbled out of the blocks it's gonna

[00:08:08] cost them a lot of money to change course. It's already cost them in market

[00:08:14] cap now it's going to cost them in actual profits hopefully teaching a

[00:08:18] lesson to American business. I'm James Breslow on Center Club you can check out

[00:08:22] my Hidden Truth podcast Double Down with Breslow on Center Club. You can check out my Hidden Truth podcast, Double Down with Breslow.

[00:08:25] Also my writings on Epoch Times,

[00:08:27] and you can find me on Facebook.

[00:08:29] Take care, everyone.

[00:08:34] We now continue the countdown with number four.

[00:08:36] We join Jennifer Horne.

[00:08:38] Jennifer is the host of Is It Just Me

[00:08:40] or Have We All Lost Our Minds?

[00:08:42] She can be seen on CNN, MSNBC, Fox, CNN Max, Scripps,

[00:08:46] NewsNation, USA Today, and others. In this segment, Jennifer Horne discusses the escalating

[00:08:51] trend of no-loan policies in colleges to combat the education debt crisis in the US. With

[00:08:57] over 43 million Americans owing $1.7 trillion in student loans, the average debt per person exceeding $39,000, and 9%

[00:09:07] facing debts over $100,000, the urgent need for change is evident.

[00:09:12] Despite the positive impact of these policies, primarily in top-tier institutions like Harvard

[00:09:18] and Princeton, smaller schools with substantial endowments need to follow suit to make education

[00:09:23] more accessible.

[00:09:25] The potential of this approach,

[00:09:26] using grants and donations to reduce tuition costs,

[00:09:30] signifies a promising solution

[00:09:31] to the crippling burden of student loans.

[00:09:34] Here's the segment from Jennifer.

[00:09:37] Hi, this is Jennifer Horne, host of Is It Just Me?

[00:09:40] Or Have We All Lost Our Minds?

[00:09:41] Coming to you today on Center Clip.

[00:09:45] I've been thinking a lot today about the cost

[00:09:48] of a college degree in this country

[00:09:51] and the way that that cost limits educational opportunities

[00:09:55] and creates for some lifelong financial burden

[00:10:01] in the cost of it and the loans that people have to take out

[00:10:04] to get that education.

[00:10:06] It's no secret that the United States is facing a serious education debt crisis.

[00:10:12] And there's an article I saw today on CNBC about a growing trend amongst colleges to

[00:10:18] address that issue, that very issue.

[00:10:22] It's a trend that shows many colleges rolling out what they are calling

[00:10:25] no loan policies. The article references 23 colleges and universities that have implemented

[00:10:32] policies to meet, listen to this, 100% of an undergrad's financial aid with school grants.

[00:10:40] Student loans are causing an almost insurmountable financial burden for millions of Americans.

[00:10:46] The average education debt per person is at just over $39,000.

[00:10:53] About 9% of student loan borrowers are at over $100,000 in debt right now just for those

[00:11:00] student loans.

[00:11:02] As of 2023, last year, over 43 million Americans have outstanding

[00:11:07] student loans to the combined tune of $1.77 trillion, and more than 92% of that is in

[00:11:17] federal loans. According to Gallup, the ever-growing cost of a degree is the number one reason people choose to not go to college.

[00:11:26] Those numbers right there define the problem amongst themselves, all of which is to say,

[00:11:32] simply enough, that these no-loan policies have the potential to dramatically change

[00:11:38] the opportunity landscape for millions of students.

[00:11:42] But don't confuse no loan with free. Even without loans, students and their

[00:11:48] families still have to cover what is called the expected family contribution at most of these

[00:11:53] schools, as well as other costs like books and fees and activities. And while this is a great

[00:11:59] movement growing among colleges, the majority of those 23 schools, which is clearly a very small percentage

[00:12:06] of colleges out there, but it's a good start. But the majority of these 23 schools on this list are

[00:12:13] top rung schools with very large endowments. For example, Harvard Endowment Fund is literally the

[00:12:19] largest in the world at $50 billion. Princeton, which is being credited in this article for starting this trend, even though

[00:12:29] Colby College in Waterville, Maine, has had a no-loans policy in place since 2008, but

[00:12:35] Princeton has an endowment of almost $39 million.

[00:12:39] In order for this trend to grow and benefit more potential students, schools with lesser but still sizable endowments

[00:12:46] need to look for new approaches to using their funds

[00:12:49] directly to alleviate tuition costs for students,

[00:12:52] either in whole or in part.

[00:12:54] Trustees of these smaller schools should see inspiration

[00:12:57] in the no-loans concept and work diligently and creatively

[00:13:00] to find more ways to better financially serve their students with the

[00:13:05] funds that they have.

[00:13:07] Priority use for grants, endowment donations, tax dollars, all the different ways that schools

[00:13:14] bring in money, the priority uses for all of those funds should be to underwrite tuition

[00:13:19] costs for lower and mid-income students.

[00:13:23] When we look at these larger schools, what they're doing,

[00:13:25] and the success that they're seeing with it,

[00:13:26] we know that this is an exciting opportunity solution.

[00:13:32] No loans policies won't work everywhere,

[00:13:35] but some form of that idea could be used nearly everywhere.

[00:13:39] It's an idea with powerful possibilities

[00:13:42] and schools across the country should be looking at it.

[00:13:49] Welcome back to number three in our weekly countdown with Michael Lee presenting an analysis on the Bitcoin phenomenon.

[00:13:56] Lee is the founder of Michael Lee Strategy and markets and economics commentator.

[00:14:01] Currently, Bitcoin has surged from $25 to $62,000 in just six months,

[00:14:07] nearing its all-time highs. Predictions suggest it could reach $100,000 if it surpasses $66,000.

[00:14:16] The introduction of ETFs, particularly the BlackRock Bitcoin ETF, has led to an impressive

[00:14:22] $8 billion in AUM with $2 billion traded in a single day.

[00:14:27] Congressional Budget Office projections and economic indicators point towards a weak economy

[00:14:32] with potential bank failures.

[00:14:34] The constant printing of fiat currency is driving Bitcoin's value up as inflationary

[00:14:39] forces take hold.

[00:14:40] With all factors aligning, Bitcoin is poised to reach new highs in the near future, according to Lee.

[00:14:46] Let's join him now.

[00:14:47] This is Michael Lee from Michael Lee's Strategy for Center Clip.

[00:14:51] Bitcoin bonanza is in front of everybody right now.

[00:14:57] Bitcoin has just gone absolutely wild over the last couple of months.

[00:15:04] Look, six months ago in September, it was at 25,000. absolutely wild over the last couple months.

[00:15:05] Look, six months ago in September, it was at 25,000.

[00:15:09] Okay, it hit, yesterday it hit 62,000.

[00:15:13] We are knocking on the doors of all time highs of Bitcoin.

[00:15:16] And if you break through the high,

[00:15:17] approximately 66 or 67,000, you know,

[00:15:21] I think you get, you know, the next stop is 100,000.

[00:15:24] Okay, historically, the next stop is a hundred thousand. OK.

[00:15:25] Historically, the way the asset has worked is you triple your previous cycle high after

[00:15:31] a massive retracement.

[00:15:33] And so there's a lot of things going in the bull case for Bitcoin.

[00:15:37] What's happening right in front of our face is the addition of the ETFs and the statistics for the BlackRock Bitcoin ETF have just been absolutely spectacular.

[00:15:52] The IBIT ETF is now at $8 billion in AUM.

[00:15:59] It's been absolutely spectacular with the volume coming in for these a couple days ago, two billion

[00:16:06] dollars traded in a single day, you know, like a hundred thousand in volume two days

[00:16:14] ago.

[00:16:15] It's going absolutely spectacularly well for BlackRock's Bitcoin offering, which of course

[00:16:20] is the point.

[00:16:21] And then today, Merrill Lynch and Wells Fargo allowed it on their platform. So it's not even every, it's not even at every platform

[00:16:27] yet. It's slowly but surely going to be added. The purchases of the Bitcoin versus the sales,

[00:16:34] the inflows into these ETFs far exceed the daily mining. And you have something called

[00:16:40] the halving event coming up soon, which means the Bitcoin miners will be given half the

[00:16:46] reward they're given today for mining Bitcoin. And they'll need to rely more on transaction

[00:16:52] fees than mining. So the new supply coming to market is going to slow down. That on top

[00:16:59] of the fact that we're going to have another continuing resolution. The CBO expects tax revenue this

[00:17:05] year to come in more than 10 percent higher than it was last year. I say poppycock. It's

[00:17:11] already tracking down 8 percent. I'm not positive on the underlying fundamentals of the economy,

[00:17:16] which means another deficit north of two trillion. Some terrible news out of Community Bank Corp

[00:17:22] after the market close on Thursday the 29th means some bank

[00:17:26] failures might be looming, meaning potential bank bailouts. And so the bull case for this

[00:17:31] endless money printing of fiat currency for Bitcoin, that the endless money printing is

[00:17:36] bullish for Bitcoin, it is. It's working that way. It's looking that way. So I think all

[00:17:41] time new highs are coming any day now and Bitcoin to the moon. That's

[00:17:47] me. I'm Michael Lee from Michael Lee Strategy. Cheers.

[00:17:55] At number two this week, we address an interesting direction from the White House on coding.

[00:18:00] Simpson Garfinkel is a science journalist who has published hundreds of articles in newspapers and magazines and 17 books.

[00:18:07] Research interests broadly include data science ethics, digital forensics, personal information management, counterintelligence, and counterterrorism.

[00:18:17] He is currently chief scientist, Basis Tech LLC.

[00:18:20] In this piece, he addressed the White House issuing a press release advocating for memory safe software in the future. The report titled Back to the Building Blocks, a Path

[00:18:30] Towards Secure and Measurable Software suggests transitioning from C to Rust.

[00:18:35] C a language developed in the 1970s is widely used but prone to vulnerabilities. In contrast,

[00:18:42] Rust, a newer language, prioritizes safety by preventing buffer overflows and

[00:18:47] ensuring memory and thread safety.

[00:18:49] While learning Rust may be challenging, it leads to safer and more efficient code.

[00:18:55] Transitioning to Rust could enhance cybersecurity and prevent severe cyberattacks caused by

[00:18:59] vulnerabilities in C-written software.

[00:19:02] Consider adopting Rust for a more secure future. Here

[00:19:05] is Simpson's entire analysis.

[00:19:07] Hi, this is Simpson Garfinkel for CenterCup. Yesterday, February 26th, the White House

[00:19:13] issued a press release with the somewhat techie title, Future Software Should Be Memory Safe.

[00:19:21] Leaders in industry support White House call to address root cause of many of the worst

[00:19:26] cyber attacks.

[00:19:28] The issue is that the White House Office of the National Cyber Director has issued a report

[00:19:34] called Back to the Building Blocks, a path towards secure and measurable software, where

[00:19:41] the Office of the National Cyber Director is basically saying stop using C and use Rust as a programming

[00:19:50] language. So C is the software language invented in the 1970s

[00:19:57] at Bell Labs, which is the basis of the Unix operating system.

[00:20:01] And it's the basis also of the Windows operating system, and most computer systems have been

[00:20:07] written in the intervening years. It's a high-performance

[00:20:10] computer language. It's notoriously easy to make

[00:20:14] mistakes in C. A better version of C came out in the 1980s

[00:20:19] called C++. It's an object-oriented version of C, and

[00:20:24] it has advantages.

[00:20:25] It has some safety features, but they're not mandatory.

[00:20:29] Now, safety, when it comes to computer software, means that the software that you write is going to behave as expected,

[00:20:39] and that the bugs are not going to have like erroneous or catastrophic results.

[00:20:45] We talk about safety a lot in AI.

[00:20:47] We don't want to have AI systems that decide to take over the world or

[00:20:51] decide to kill their users or just turn the entire planet into paper clips.

[00:20:56] But safety also applies to things like word processors or

[00:21:00] software that runs lamps or software that runs digital toothbrushes.

[00:21:05] And when that software is written in C, it tends to have exploitable vulnerabilities.

[00:21:11] And many of the most devastating attacks on the Internet have been because of bugs in software written in C.

[00:21:20] So there's a new computer language that's been out for a few years. It's called Rust.

[00:21:24] It's similar to C in that's been out for a few years. It's called Rust.

[00:21:25] It's similar to C in that it produces very high performance code, but it doesn't have

[00:21:30] many of the safety problems of C and C++.

[00:21:35] In particular, it's impossible to have something called a buffer overflow in Rust, and that's

[00:21:40] because when you write code, you have to prove to the computer language that your code doesn't have a buffer overflow.

[00:21:47] You have to prove to the compiler that your code is memory safe and also something called

[00:21:53] thread safe, which means if you have more than one processor or more than one thread

[00:21:59] of activity accessing memory at the same time, that they clearly decide who gets to control that piece of memory.

[00:22:07] Turns out that thread safety issues have also been exploitable for computer security problems.

[00:22:14] So this is all very, very technical. It turns out there's a big learning curve to write Rust,

[00:22:18] but once people get over that hump, they tend to really like it, and they write code that is safer and more performant

[00:22:26] and just better than the stuff they did under C. Or maybe the people who can't master Rust

[00:22:31] just go away and do something else, like they write in Python or they write prompts for

[00:22:37] large language systems.

[00:22:38] Anyway, this is good news.

[00:22:41] Companies should think about adopting Rust. We should be replacing code from C in Rust.

[00:22:47] And this is the way, in part,

[00:22:49] that we're gonna move to a more secure future,

[00:22:52] but it's gonna take a long, long time to get there.

[00:22:55] So this is Simpson Graf and Gopher Center Clip.

[00:22:57] Have a great day.

[00:23:02] To round out our countdown this week,

[00:23:04] Kenny Polkari, the founder of Case Capital Advisors,

[00:23:08] joins us with a snapshot market recap and the latest market news on Thursday.

[00:23:13] Jeffrey Schmidt and Michelle Bowman maintained the narrative of keeping rates higher for

[00:23:17] longer.

[00:23:18] This week, we also heard from Austan Goolsbee, Ralphie Bostick, and Susie Collins. Mortgage applications are down due to higher rates,

[00:23:27] causing frustration in the housing market.

[00:23:29] Mixed economic data leads to market uncertainty,

[00:23:32] with the Dow, S&P, NASDAQ, and Russell

[00:23:35] trending slightly higher.

[00:23:37] The magnificent seven tech companies

[00:23:38] like Tesla and Apple are down,

[00:23:40] while Nvidia, Meta, and Amazon continue to perform well.

[00:23:44] Oil prices fluctuate as OPEC considers production cuts, impacting gold prices as they await

[00:23:49] clarity from the Fed.

[00:23:51] U.S. futures are down, and European markets slip as uncertainty remains.

[00:23:55] Analysts, year-end targets are in question as the market's direction is uncertain.

[00:24:01] Here is the full moment from Polkari.

[00:24:02] Good morning.

[00:24:03] I am Kenny Polkari for CineClipip and today is Wednesday, February 28th.

[00:24:07] Okay, so it was a quiet day yesterday as we're awaiting more statements from three more Fed

[00:24:11] heads today.

[00:24:12] Remember, we've already gotten two on Monday and Tuesday from Kansas City's Jeffrey Schmidt

[00:24:17] and Fed Governor, Michy Bowman, who both are repeating the same narrative that they're

[00:24:23] in no rush to cut rates.

[00:24:25] They think the sense is that rates should stay higher for longer.

[00:24:28] So we're going to see what the three have to say today at Chicago's Austin Goolsbee,

[00:24:32] Atlanta's Raffi Bostic and Boston's Susie Collins.

[00:24:36] Will they mimic the conversation or will they challenge each other in the global public

[00:24:42] square?

[00:24:43] Mortgage apps this morning were lower.

[00:24:44] We're citing higher mortgage rates as a result.

[00:24:46] That's on top of last week's mortgage app rate, which was lower as well.

[00:24:51] So that's presenting a little bit of frustration, I think, in the housing market, right?

[00:24:56] But there'll be more economic data today.

[00:24:58] We're getting mixed signals in the market because of the uncertainty surrounding the

[00:25:02] Fed.

[00:25:03] Some mixed economic data, but earnings remain fairly robust,

[00:25:07] and that's causing confusion in the markets, right?

[00:25:09] So we see the market's struggling on which way to go.

[00:25:12] Should we go higher?

[00:25:13] Should we pull back and regroup?

[00:25:14] My sense is, as you know,

[00:25:16] that the market is going to pull back and regroup.

[00:25:18] Yesterday, they did end mixed with the Dow down,

[00:25:21] the S&P, the NASDAQ, and the Russell,

[00:25:23] and the equal weight S&P all higher. So what's happening with the tech, with the Dow down, the S&P, the NASDAQ and the Russell, and the equal weighting S&P all

[00:25:25] higher.

[00:25:26] So what's happening with the magnificent seven?

[00:25:28] We've got Tesla down, we've got Apple down on the year, Google is now down on the year

[00:25:33] just slightly.

[00:25:35] That's facing a whole host of challenges now with the generative AI model, some clear obvious

[00:25:40] biases there that's causing some angst for Google and for CEO Sundar Pichar.

[00:25:47] The other tech companies in magnificent seven are performing beautifully. Nvidia,

[00:25:52] Manna, all doing well, Amazon all doing well. Today's agenda is going to include more economic

[00:25:58] the economic data releases, but more importantly, the Fed's speeches. and what we're going to listen to is, are they giving us the signal that they know more than we know?

[00:26:08] Are they preparing for a hotter PCE than even what the expectation is?

[00:26:14] Because the expectation is for tomorrow's PCE report to be elevated, just like the CPI

[00:26:20] and PPI, but a lot of that is already expected.

[00:26:22] So it may not necessarily be that volatility event that we saw with the CPI last week,

[00:26:28] although if it's even stronger than what the market expects already, then you could see

[00:26:32] certainly more of a pullback.

[00:26:34] But I think the Fed speeches are trying to mute the response.

[00:26:38] They're trying to talk the markets off the edge.

[00:26:40] They don't want to see a drastic reaction.

[00:26:43] And I think the tone of their messages today is going to point to that and hopefully help

[00:26:47] to mute any negative response.

[00:26:50] Oil prices are fluctuating, right?

[00:26:52] Part of it influenced by the OPEC rumors that they're looking to cut production through

[00:26:56] 2024.

[00:26:57] That was yesterday, caused oil to go higher.

[00:26:59] Today, oil is under a little bit of pressure.

[00:27:01] There are some member states of the cartel that are considering what their membership really means and maybe pulling out of the cartel.

[00:27:08] And if that's the case, it presents a problem for the Saudis as they won't be able to control

[00:27:12] the production of those rogue nations.

[00:27:14] And then that will increase supply and put pressure on oil.

[00:27:17] And you know, as well as I do that Saudi needs oil to be $80 a barrel or higher.

[00:27:22] Gold prices remain range bound between 2030 and 2050.

[00:27:26] That's all also weighing more clarity from the Fed and that will define what the dollar

[00:27:30] does.

[00:27:31] The dollar moves higher, gold will come under pressure.

[00:27:33] If they hold rates higher for longer, the dollar will move higher, gold will come under

[00:27:36] pressure.

[00:27:37] And if they suggest cutting rates, then we'll see gold advance.

[00:27:40] U.S. futures are slowing it down again as they're just being cautious ahead of the commentary

[00:27:46] today from the Fed.

[00:27:47] The European markets are also lower and they're awaiting some economic indicators across the

[00:27:52] Eurozone there today and tomorrow.

[00:27:53] We'll get CPI reports from a range of the nations and Eurozone CPI on Friday.

[00:27:59] Analysts are divided on the market direction.

[00:28:01] Uncertainty prevailing, 5100 was kind of year in target for a lot of analysts who were already there. So either they're wrong or the market's going to pull

[00:28:08] back and then rally into the end of the year. In any event, I'm Kenny Pulkari. Today is

[00:28:13] February 28, 2022, and this is CenterClip.

[00:28:18] We'll have to hold it there. Please remember this episode presents the personal opinions of these individuals and

[00:28:26] should not be viewed as investment advice.

[00:28:29] Thank you to James Breslow, Jennifer Horn, Michael Lee, Simpson Garfinkel, and Kenny

[00:28:34] Polkari.

[00:28:35] For their work and more in real time, please visit centerclip.com.

[00:28:38] One topic at a time, leaders on both sides, always under five minutes.

[00:28:43] That is elevating discourse.

[00:28:46] Again, centerclip.com for more throughout the week.

[00:28:49] We'll be back next week.

[00:28:50] This has been the Weekly Money Clip. A news story gets shared by a friend on social media, or you catch a tweet that really makes

[00:29:13] your blood boil.

[00:29:15] But how do you separate fact from fiction?

[00:29:18] That's the premise behind disinformation, a 10-part series from Evergreen podcasts and

[00:29:24] Emergent Risk International coming

[00:29:26] this fall.

[00:29:27] Tune into disinformation wherever you get your podcasts.

[00:29:31] And remember, don't believe everything you read.