Whoops, got that one wrong...haha...it HAS been awhile. Federal Funds Rate is the rate that banks lend deposit reserves to other banks overnight when the receiving bank won't have the deposit requirement. When the Fed wants to reduce the rates, they increase the money supply and buy government bonds. When they want to increase the rates, they sell. Lower the rates to spur the economy, raise them to cool it.

@Darth Thanks, I always forget that FFR is the interbank loan and not based on FRB. The name is seriously misleading. By the way, what study program did you use? I've got both the finra workbook and passperfect.

back when i took the 7 there was a lot on munis as well

Is the "Ruin a company with our endorsement, invest, then withdraw endorsement" a viable investment strategy, or was Papa Johns on the way down anyway?

Well, their product isn't the best. It probably doesn't have anything to do with us.

i think they had a bad earnings number which is what prompted them to criticize the NFL which is why Anglin endorsed them which prompted them to disavow us

@SamanthaM what do you do for work?

@Zyzz Recently graduated. Just signed on to a firm as a junior financial advisor. And yourself?

nice i work in RE, previously worked at an ibank where i needed my 7 and 63

Interesting. What were your experiences with the ibank? What prompted your decision to switch to RE?

Here's my plan.
1) Borrow a shit load of Bitcoin from p2p lending
2) Convert to cash
3) Bubble pops, you have cash, Bitcoin is worthless
4) Pay debnts

Question is, when will Bitcoin pop?

That's the age old question of when will x pop. If you knew, you'd be the richest man alive

I had a wallet when Bitcoin was 10$. I tried to buy 100$ worth but the payment didn't go through for some reason.

i wouldn't touch that shit @John O - it is pure speculation with (to my knowledge) no underlying demand drivers

@SamanthaM DM'ed you

@Zyzz yeah, of course. I've been saying that for years. Just kind of bullshiting

https://www.youtube.com/watch?v=rZ8EDUkPuqw
@everyone

I work in home mortgage if anyone needs advice on how to get approved for a loan.

I'm thinking of suing ABC for damages

So, people really shouldn’t mess with crypto unless they already have a 401k and some slow growth safe investments, right? Do we need an advisor for things like IRAs or can we do all that through TD Ameritrade?

@this_that5553 Check out the convo on IE general

Yeah, I don't invest because it pisses me off so much. But the pump and dump scheme seems to be what everyone is doing

It's sad, because Monero and Ethereum are legitimately good technology. But people just latch on to whatever crypto has the most hype and the hype is completely artificial. People are talking about Lite Coin too now. Like WTF. Lite Coin sucks ass, but the hype is randomly around it again

Dude, the entire concept of crypto currency is fragile af. If the world economy ran on crypto, even if it was a good one, I would be very uncomfortable

I agree. But the shitty thing is that nobody actually uses these coins. They just buy and sell the coin themselves

Yeah dude

The fact that there is _zero_ commerce around this stuff should be a huge warning flag

^^^^

There are several huge red flags

e-stores that use bitcoin do _very_ little business in it. I guarantee. To the point where stores have just stopped supporting it

Let's be honest, NEETs do not spend much money on goods and services

Anyway, I'm gonna watch some tutorials on TD Ameritrade or something lol

I've used Schwab since I was 21, can't complain

@John O - yeah me too I like it a lot

@this_that5553 I like to use Bitcoin to buy stuff because a lot of merchants give discounts for using it

From what I understand though it is used a lot more in third world countries that don't really have a credit card infrastructure

Third world countries also don't have much of a landline phone infrastructure, so those places were very quick to adopt cell phone towers and basically "skipped" ever setting up landlines

So I’ve been listening to the “Money For The Rest of Us” podcast in my free time. I know very little about how finance works, and I thought it would be a decent way to learn some basics. But I can’t decide if the guy is a charlatan or ‘guru’ figure or if he is actually knowledgeable. Has anyone with more in-depth knowledge on the subject gotten a good read on the podcast? And if he is an intellectual fraud, are there any other good podcasts you’d suggest instead?

@Tim - NH not sure about podcasts but reddit has some good finance related sections. If you are having trouble understand what a topic is you can always post the thread here and we can review/discuss

@this_that5553 buy a broad based vanguard mutual fund. They have the lowest fee structure. Aim to choose a fund with broad exposure to the market rather than something sector specific. That’s how you eliminate company or industry specific risk.