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What Happened Last Week and What It Means to You: December 1st, 2022

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Week Ending November 25th, 2022

The silence is deafening!!!

Biden approves Chevron to drill for oil in Venezuela…What about the USA?

What does it mean – You just can’t make this stuff up. President Biden will allow Chevron to “Build Back Better” in Venezuela, while American citizens get stuck with higher energy and oil prices here in the USA because of his executive orders to shut down oil leases, close refineries, and severely limiting our oil production here in the USA. You just can’t make this stuff up and where is the media?

 

World Economic Forum declares China a roll model…World Economic Forum founder and Chair Klaus Schwab recently sat down for an interview with a Chinese state media outlet and proclaimed that China was a “role model” for other nations. 

What does it mean – The media must love censorship, destruction of free speech and the believes that capitalism is evil, yet we have nearly 6,000 years that proves that communism and socialism destroys wealth creation and does not work. This has nothing to do with COVID.

Globalists like Klaus Schwab cheer on China. Trudeau and our President are silent while China locks down nearly 180 cities and roughly 60% of its GDP to fight Covid protests with tanks in the streets. We know lock downs do not prevent the spread of the Chinese Virus or protect the economy. Lock downs simply do not work. Yet, the Media says nothing about this and are complicit in supporting this policy until the corporate media gets roughed up.

Corporate Media gets roughed up. China arrests BBC journalist Ed Lawrence and beats him…Just days after World Economic Forum founder Klaus Schwab praises China as a role model. Chinese Communist thugs beat BBC journalist and American Media is almost completely silent.

What does it mean – Corporate Media has sold its sole to China and Big Government. Profits over morals. A sure recipe for disaster. Ask Russia, Cuba, Disney, CNN, MSNBC and the NY Times to name a few.

 

Apple sides with China…Per request from China, Apple rigs AirDrop to block free speech, a crucial tool of dissent in China just weeks prior to widespread protests.

What does it mean – Several American companies have caved to pressures from the Chinese Communist Party in order to make a buck in the totalitarian dystopia at the expense of implicitly endorsing the despotic government’s human rights abuses. Apple is the latest to rush to the CCP’s aid.

On Nov. 9, when Apple released a new version of its mobile operating system, iOS 16.1.1 (I unfortunately fell for the upgrade) to customers worldwide. Rather than listing new features, as it often does, the company simply said, “This update includes bug fixes and security updates and is recommended for all users.”

Hidden in the update was a change that only applies to iPhones sold in mainland China: AirDrop can only be set to receive messages from everyone for 10 minutes, before switching off. There’s no longer a way to keep the “everyone” setting on permanently on Chinese iPhones. The change, first noticed by Chinese readers of 9to5Mac, doesn’t apply anywhere else.

At least not yet. Wait until our government convinces Apple or “big Tech” to use this tool or others to block “disinformation” or tell you what is real and what is not. It seemed like yesterday (ok it is still happening) the government used big tech to validate or promote its disinformation policies regarding COVID related issues or concerns from everyday Americans. Again, silence from most of the media and our President.

I hope you all had a great Thanksgiving.

 

Let’s roll America!!

Doug De Groote, CFP®, MBA, CTC
Managing Director

De Groote Financial Group, LLC is a federally registered investment adviser that maintains a principal office in the State of California. The information contained in this message is confidential, protected from disclosure and may be legally privileged. If the reader of this message is not the intended recipient or an employee or agent responsible for delivering this message to the intended recipient, you are hereby notified that any disclosure, distribution, copying, or any action taken or action omitted in reliance on it, is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by replying to this message and destroy the material in its entirety, whether in electronic or hard copy format.

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Jeannie Ewing-Nicholson

Operations Manager

Jeannie started her career in the Financial Services industry in 1994 with Oppenheimer & Company. As part of the De Groote Financial Group, Jeannie is responsible for the operational needs of the firm including cash management and account administration. With her upbeat attitude and attention to detail, Jeannie provides an efficient streamlines experience to ensure clients meet their goals. Jeannie enjoys travel, outdoor activities, Pilates, and is a football and basketball fan. She resides in Westlake Village with her husband, daughter and son.

Mary-Ellen Lykken

Executive Assistant

Mary-Ellen, Executive Assistant at DFG, keeps the office running smoothly by providing administrative support and assisting with scheduling and organization. With a background in human resource and office management, Mary-Ellen comes from the non-profit and services industries.

Outside of the office, Mary-Ellen is committed to the advancement of independence and productivity for those with disabilities. By telling her story of the challenges and joys of raising a child with complicated disabilities, she hopes to help others navigate similar circumstances.

She is happiest when visiting her two grown sons. Otherwise, you can find her competing on the pickleball courts.

Sara Mariniello

Operations Manager

Sara is new to the financial industry only starting in 2022 when she was hired at De Groote Financial. As Operations Manager, Sara is responsible for all the paperwork surrounding opening accounts and investment paperwork and is also responsible for much of the client communication. Sara has her bachelor’s in science and nursing from Concordia University, Texas and worked as nurse for over a year prior to moving back to California. She loves all things sports and church related and is likely spending every free moment with her Husband visiting family in Texas and New Jersey.

Fadi Ahmed

Chief Operations Officer and Chief Compliance Officer

Fadi works with clients to ensure an exceptional experience. He coordinates and assures the planning process and wealth management tools are at your fingertips to provide the clarity you deserve and the transparency and access to all your accounts. Fadi ensures the data and information is reflective in our planning software. All changes and updates flow through his desk and he coordinates those changes with the rest of our team.

Andrew Krout

Wealth Advisor, Co-Chief Investment Officer

Andrew Krout is a Wealth Advisor at De Groote Financial Group, LLC. He also serves as a Co-Chief Investment Officer for the firm, focused on wealth management.

Previously, Andrew served as CIO with Kelly Financial in Boston Massachusetts since 2013. He is a licensed investment advisor representative and insurance producer. He graduated from Saint Francis University with a bachelor’s degree in both finance and accounting. He is a candidate for CERTIFIED FINANCIAL PLANNER™ designation. Andrew holds life insurance licenses in Massachusetts, New Hampshire and Connecticut.

Andrew is passionate about serving his clients and investment management and how to apply news and current events to investment decisions. He played Division 1 golf in college, and still enjoys playing and watching the sport in his free time.

David Darst

Co-Chief Information Officer

David Martin Darst, CFA is an Investment Advisor to DeGroote Financial Group, specializing in asset allocation and product selection. Previously, David served for 17 years as a Managing Director and Chief Investment Strategist at Morgan Stanley Wealth Management, with the responsibility for Asset Allocation and Investment Strategy. He joined Morgan Stanley in 1996 from Goldman Sachs, where he held Senior Management Posts within the Equities Division and earlier, for six years as Resident Manager of their Private Bank in Zurich.

David is the author of 13 books, including bestsellers The Art of Asset Allocation, 2nd Edition (McGraw-Hill), and The Little Book that Still Saves Your Assets (John Wiley & Sons). He also appears as a frequent guest on CNBC, Bloomberg, FOX, PBS, and others, and has contributed articles across a variety of publications.

David graduated with a BA in Economics from Yale University, and earned his MBA from Harvard Business School. He has lectured extensively at Wharton, Columbia, INSEAD, and New York University Business Schools, and for nine years, David served as a visiting member at Yale College, Yale School of Management, and Harvard Business School. He is a CFA Charterholder and a member of the New York Society of Security Analysts and the CFA Institute. 

Doug De Groote

Managing Director

Doug is a Certified Financial Planner™ (CFP®) with an MBA in Financial Planning, and is an active member of the Financial Planning Association (FPA). Before establishing De Groote Financial Group, Doug founded the United Wealth Management division of United Capital. Prior to that, Doug was a partner at Crowell, Weedon and Co. He regularly contributes to a variety of financial and general media.

Doug’s passion, and what he believes, is that everyone deserves the opportunity; they deserve to have the freedom and responsibility to be pro-active in achieving independence and financial success.

Doug’s life is focused around his family, wife and three children, and making sure they get the foundation that is necessary for them to have the awareness of the opportunities that abound in our great country.

Doug helps increase his client’s awareness and success, to identify and take advantage of opportunities that present themselves and help protect them from some of the pitfalls or obstacles that are thrown in our paths. With regards to their financial circumstances, Doug helps his clients identify their goals, plan for various outcomes and manage their assets to help them make their vision a reality.