gary welcome mate and thank you again
for<00:00:02.240> joining<00:00:02.560> us<00:00:02.800> on<00:00:02.879> a<00:00:03.040> sunday<00:00:03.520> evening
for joining us on a sunday evening
that's<00:00:04.720> all<00:00:04.799> right<00:00:05.040> good<00:00:05.200> to<00:00:05.279> be<00:00:05.440> here<00:00:05.600> good<00:00:05.759> to
that's all right good to be here good to
see<00:00:05.920> you<00:00:06.000> again<00:00:06.240> pete<00:00:06.799> good<00:00:07.120> man<00:00:07.359> good<00:00:07.600> man<00:00:07.839> so
see you again pete good man good man so
first<00:00:08.480> and<00:00:08.639> foremost<00:00:09.280> um<00:00:09.679> i've<00:00:09.840> listened<00:00:10.080> to
first and foremost um i've listened to
you<00:00:10.480> quite<00:00:10.639> a<00:00:10.719> bit<00:00:10.880> this<00:00:11.040> week<00:00:11.280> actually<00:00:12.160> and<00:00:12.480> i
you quite a bit this week actually and i
did<00:00:12.880> mention<00:00:13.200> this<00:00:13.360> on<00:00:13.519> ig<00:00:14.240> and<00:00:14.799> i<00:00:14.960> just<00:00:15.200> i<00:00:15.360> just
did mention this on ig and i just i just
have<00:00:15.679> to<00:00:15.759> ask<00:00:16.080> you<00:00:16.320> to<00:00:16.720> kind<00:00:16.960> of<00:00:17.199> give
have to ask you to kind of give
the<00:00:18.320> viewers<00:00:19.039> a<00:00:19.279> feel<00:00:19.680> for<00:00:20.080> this<00:00:20.320> letter<00:00:20.640> that
the viewers a feel for this letter that
went<00:00:20.960> to<00:00:21.199> rishi<00:00:21.520> sunak<00:00:22.000> you<00:00:22.240> and<00:00:22.400> other<00:00:22.560> people
went to rishi sunak you and other people
have<00:00:23.039> signed<00:00:23.359> it<00:00:23.840> are<00:00:24.240> asking<00:00:24.800> them<00:00:25.039> to
basically tax more millionaires so on
and<00:00:27.359> so<00:00:27.599> forth<00:00:28.320> tell<00:00:28.560> us<00:00:28.720> a<00:00:28.800> little<00:00:28.960> bit<00:00:29.119> more
and so forth tell us a little bit more
about<00:00:29.359> that<00:00:29.519> before<00:00:29.760> we<00:00:29.920> dive<00:00:30.160> into<00:00:30.400> the<00:00:30.480> whole
group called patrick millionaires uk um
that's<00:00:36.160> on<00:00:36.239> my<00:00:36.399> tinder<00:00:36.719> profile<00:00:37.200> and<00:00:37.440> i<00:00:37.520> don't
the thing we want to start with is and
this<00:00:43.120> is<00:00:43.280> number<00:00:43.520> one<00:00:43.760> message<00:00:44.079> on<00:00:44.160> the<00:00:44.239> ghetto
national insurance has been risen um
well<00:00:47.120> it's<00:00:47.280> going<00:00:47.360> to<00:00:47.520> rise<00:00:48.079> in<00:00:48.160> march<00:00:48.399> it<00:00:48.480> was
well it's going to rise in march it was
announced<00:00:48.879> about<00:00:49.440> a<00:00:49.520> month<00:00:49.760> and<00:00:49.840> a<00:00:49.920> half<00:00:50.079> ago
1.25 directly out of your pay packet but
another<00:00:54.640> 1.25<00:00:55.520> paid<00:00:55.680> by<00:00:55.840> your<00:00:55.920> employer<00:00:56.320> so
people but during covid and i've said
this<00:01:03.760> plenty<00:01:04.000> of<00:01:04.080> times<00:01:04.400> people<00:01:04.559> who've<00:01:04.720> heard
this plenty of times people who've heard
me<00:01:05.040> before<00:01:05.680> during<00:01:06.000> kobe<00:01:06.640> billionaire<00:01:07.119> wealth
me before during kobe billionaire wealth
in<00:01:07.439> this<00:01:07.600> country<00:01:07.920> has<00:01:08.080> risen<00:01:08.320> by<00:01:08.560> 22
and they've done that by raising raising
your<00:01:16.640> taxes<00:01:17.200> but<00:01:17.360> if<00:01:17.520> you<00:01:17.600> look<00:01:17.840> at<00:01:18.000> just<00:01:18.479> three
individual families in this country the
lakshmi<00:01:21.759> uh<00:01:22.000> the<00:01:22.080> middles<00:01:22.640> the<00:01:22.799> rubens<00:01:23.280> and
during covid by 20.6 billion pounds just
three<00:01:29.439> families<00:01:29.840> so<00:01:29.920> they<00:01:30.079> could<00:01:30.240> have<00:01:30.320> paid
three families so they could have paid
for<00:01:30.640> that<00:01:30.720> twice<00:01:31.040> over<00:01:31.439> and<00:01:31.600> if<00:01:31.680> we<00:01:31.759> look<00:01:31.920> at
106 billion pounds so if you work that
out<00:01:38.240> that<00:01:38.400> means<00:01:38.640> the<00:01:38.720> top<00:01:38.880> 250<00:01:39.600> billionaires
out that means the top 250 billionaires
on<00:01:40.400> average<00:01:41.280> increase<00:01:41.600> their<00:01:41.759> wealth<00:01:42.000> by<00:01:42.159> 400
during covert during a massive economic
crisis<00:01:47.439> and<00:01:47.600> then<00:01:48.159> at<00:01:48.320> the<00:01:48.479> end<00:01:48.640> of<00:01:48.799> it
the chancellor whose father-in-law is by
the<00:01:52.079> way<00:01:52.320> billionaire<00:01:53.119> has<00:01:53.280> decided<00:01:53.920> he's<00:01:54.320> not
going to raise tax on billionaires
instead<00:01:56.159> he's<00:01:56.320> going<00:01:56.479> to<00:01:56.560> raise<00:01:56.799> taxes<00:01:57.200> on
grand a year you're going to pay i think
500<00:02:01.680> pounds<00:02:02.000> extra<00:02:02.240> more<00:02:02.640> but<00:02:02.799> if<00:02:02.880> you're<00:02:02.960> a
not in a good way right yeah um
so<00:02:09.679> i<00:02:10.000> you<00:02:10.080> know<00:02:10.239> i'm<00:02:10.399> part<00:02:10.560> of<00:02:10.640> this<00:02:10.800> group<00:02:11.039> and
so i you know i'm part of this group and
you<00:02:11.440> know<00:02:11.920> i'm<00:02:12.239> i'm<00:02:12.400> involved<00:02:12.640> with<00:02:12.720> the
tax us tax a millionaires and the
billionaires<00:02:18.959> because<00:02:19.200> we<00:02:19.440> are<00:02:19.520> the<00:02:19.599> guys<00:02:19.760> who
billionaires because we are the guys who
can<00:02:20.000> afford<00:02:20.239> to<00:02:20.319> pay<00:02:20.560> it<00:02:20.640> we're<00:02:20.800> the<00:02:20.959> guys<00:02:21.120> who
can afford to pay it we're the guys who
made<00:02:21.520> money<00:02:21.840> during<00:02:22.160> hobie<00:02:22.959> you<00:02:23.120> need<00:02:23.280> to<00:02:23.440> tax
the billionaires and not ordinary people
so<00:02:25.280> we<00:02:25.360> sent<00:02:25.599> this<00:02:25.760> letter<00:02:26.160> um<00:02:26.720> about<00:02:26.879> a<00:02:26.959> week
so we sent this letter um about a week
ago<00:02:27.360> and<00:02:27.440> we've<00:02:27.520> got<00:02:27.599> a<00:02:27.680> bit<00:02:27.840> of<00:02:28.000> we<00:02:28.080> gotta<00:02:28.239> be<00:02:28.319> a
ago and we've got a bit of we gotta be a
press<00:02:28.640> on<00:02:28.720> it<00:02:28.800> which<00:02:29.040> you've<00:02:29.200> seen<00:02:29.360> by<00:02:29.520> the
i i caught little bits of it and i think
you<00:02:41.040> there<00:02:41.200> was<00:02:41.440> a<00:02:41.519> stipulation<00:02:42.239> in<00:02:42.400> there
you there was a stipulation in there
um<00:02:43.680> that<00:02:43.920> demanded<00:02:44.560> or<00:02:44.800> asked<00:02:45.519> for<00:02:45.920> richie<00:02:46.319> to
class that you're talking about the
billionaires<00:02:52.160> there<00:02:52.319> is<00:02:52.480> that<00:02:52.560> right<00:02:53.200> for<00:02:53.360> me
billionaires there is that right for me
i<00:02:53.680> always<00:02:54.000> say<00:02:54.160> that<00:02:54.400> and<00:02:54.480> i<00:02:54.560> mean<00:02:54.720> look<00:02:55.360> i'm
i always say that and i mean look i'm
not<00:02:55.680> a<00:02:55.760> billionaire<00:02:56.400> you<00:02:56.480> know<00:02:56.879> um<00:02:57.280> but
not a billionaire you know um but
when<00:02:58.400> i<00:02:58.480> talk<00:02:58.640> about<00:02:58.879> taxing<00:02:59.200> wealthy<00:02:59.519> people
especially down in the southeast where
houses<00:03:03.760> cost<00:03:03.920> a<00:03:04.000> lot<00:03:04.080> of<00:03:04.159> money<00:03:04.400> you<00:03:04.480> know<00:03:04.560> what
houses cost a lot of money you know what
i<00:03:04.720> mean<00:03:04.879> there<00:03:04.959> might<00:03:05.120> not<00:03:05.280> be<00:03:05.440> crazy<00:03:05.760> crazy
because they see it all the time that
governments<00:03:13.040> bring<00:03:13.280> in<00:03:13.440> taxes<00:03:13.840> on<00:03:13.920> the<00:03:14.080> rich
governments bring in taxes on the rich
they<00:03:15.360> put<00:03:15.519> in<00:03:15.599> loopholes<00:03:16.159> and<00:03:16.239> the<00:03:16.319> super<00:03:16.560> rich
they put in loopholes and the super rich
get<00:03:16.959> avoided<00:03:17.440> and<00:03:17.599> in<00:03:17.680> the<00:03:17.840> end<00:03:18.239> ends<00:03:18.480> up
get avoided and in the end ends up
falling<00:03:18.800> in<00:03:18.879> the<00:03:18.879> middle<00:03:19.200> class<00:03:19.680> there's<00:03:19.840> one
falling in the middle class there's one
example<00:03:20.400> of<00:03:20.480> this<00:03:20.640> which<00:03:20.879> i<00:03:20.959> love<00:03:21.280> is<00:03:21.680> which<00:03:21.920> is
example of this which i love is which is
um<00:03:22.560> when<00:03:22.800> the<00:03:22.959> government<00:03:23.360> brought<00:03:23.599> in<00:03:23.680> a<00:03:23.760> tax
um when the government brought in a tax
on<00:03:24.720> an<00:03:24.879> extra<00:03:25.120> tax<00:03:25.519> on<00:03:25.760> second<00:03:26.080> home<00:03:26.319> purchases
on an extra tax on second home purchases
three<00:03:27.840> extra<00:03:28.080> three<00:03:28.239> percent<00:03:28.879> they<00:03:29.040> put<00:03:29.200> in<00:03:29.360> a
three extra three percent they put in a
clause<00:03:30.319> if<00:03:30.400> you<00:03:30.560> bought<00:03:30.799> seven<00:03:31.120> or<00:03:31.280> more<00:03:31.519> at
clause if you bought seven or more at
once<00:03:32.239> you<00:03:32.400> didn't<00:03:32.560> have<00:03:32.640> to<00:03:32.720> pay<00:03:32.879> the<00:03:32.959> extra
once you didn't have to pay the extra
tax<00:03:34.000> and<00:03:34.080> then<00:03:34.319> jeremy<00:03:34.720> hunt<00:03:34.959> who<00:03:35.040> was<00:03:35.200> health
tax and then jeremy hunt who was health
minister<00:03:35.760> at<00:03:35.840> the<00:03:36.000> time<00:03:36.400> went<00:03:36.640> and<00:03:36.720> bought<00:03:36.959> and
is a multi-millionaire went and bought
seven<00:03:38.799> properties<00:03:39.280> you<00:03:39.360> know<00:03:39.440> what<00:03:39.440> i<00:03:39.519> mean<00:03:39.760> so
seven properties you know what i mean so
we<00:03:41.519> have<00:03:41.760> to<00:03:41.840> tax<00:03:42.080> the<00:03:42.159> richest<00:03:42.480> but<00:03:42.720> ordinary
chancellor's father was a billionaire
david<00:03:49.200> cameron<00:03:49.440> went<00:03:49.599> and<00:03:49.680> made<00:03:49.840> two<00:03:50.000> million
david cameron went and made two million
pounds<00:03:50.480> as<00:03:50.560> soon<00:03:50.720> as<00:03:50.879> he<00:03:50.959> left<00:03:51.440> they're<00:03:51.680> run<00:03:51.840> by
multi-millionaires and billionaires they
bring<00:03:54.080> in<00:03:54.159> these<00:03:54.400> taxes<00:03:54.959> they<00:03:55.120> put<00:03:55.280> in
loopholes that very often people are
going<00:03:56.720> to<00:03:56.879> use<00:03:57.280> and<00:03:57.439> it<00:03:57.519> falls<00:03:57.760> on<00:03:57.840> ordinary
but you have to make sure you tax the
riches<00:04:04.640> too<00:04:05.280> you<00:04:05.439> have<00:04:05.680> to<00:04:06.080> because<00:04:06.319> otherwise
riches too you have to because otherwise
they're<00:04:06.799> just<00:04:06.879> going<00:04:07.040> to<00:04:07.120> get<00:04:07.200> richer<00:04:07.439> and
richer and richer which ultimately means
them<00:04:09.599> owning<00:04:10.000> assets<00:04:10.319> instead<00:04:10.560> of<00:04:10.720> us<00:04:11.120> and
difficult more difficult to own assets
absolutely<00:04:14.799> so<00:04:14.959> that<00:04:15.120> brings<00:04:15.360> us<00:04:15.519> on<00:04:15.599> to<00:04:15.760> like
absolutely so that brings us on to like
the<00:04:16.000> budget<00:04:16.400> this<00:04:16.560> week<00:04:16.880> i<00:04:17.040> know<00:04:17.199> that<00:04:17.280> you've
the budget this week i know that you've
done<00:04:18.079> sort<00:04:18.320> of<00:04:18.400> the<00:04:18.479> rounds<00:04:18.959> on<00:04:19.280> on<00:04:19.440> radio<00:04:19.840> and
done sort of the rounds on on radio and
stuff<00:04:20.079> like<00:04:20.239> that<00:04:20.400> around<00:04:20.639> your<00:04:20.880> thoughts<00:04:21.120> on
do you think he's done enough for
ordinary<00:04:28.400> people<00:04:28.720> within<00:04:29.040> the<00:04:29.120> budget<00:04:29.520> as<00:04:29.680> it
ordinary people within the budget as it
currently<00:04:30.320> is<00:04:30.560> or<00:04:30.800> do<00:04:30.960> you<00:04:31.199> think<00:04:31.680> well<00:04:31.919> he's
currently is or do you think well he's
given<00:04:32.400> a<00:04:32.479> little<00:04:32.800> bit<00:04:33.120> but<00:04:33.360> not<00:04:33.520> really<00:04:33.840> given
given a little bit but not really given
that<00:04:34.560> much<00:04:34.880> but<00:04:35.040> he's<00:04:35.280> definitely<00:04:35.680> taken<00:04:36.080> from
that much but he's definitely taken from
this<00:04:36.639> sector<00:04:36.960> here<00:04:37.199> do<00:04:37.280> you<00:04:37.360> think<00:04:37.520> he's<00:04:37.759> gone
always a big element of political
theater<00:04:42.560> with<00:04:42.720> the<00:04:42.800> budget<00:04:43.360> they<00:04:43.520> come<00:04:43.840> out
theater with the budget they come out
they<00:04:44.160> get<00:04:44.320> all<00:04:44.479> the<00:04:44.639> news<00:04:44.880> shows<00:04:45.120> they<00:04:45.280> want<00:04:45.440> to
it tends to be taking a bit of money
from<00:04:50.160> some<00:04:50.400> people<00:04:50.639> and<00:04:50.720> giving<00:04:50.960> a<00:04:51.040> bit<00:04:51.120> of
from some people and giving a bit of
money<00:04:51.440> to<00:04:51.520> other<00:04:51.680> people<00:04:52.000> so<00:04:52.479> if<00:04:52.560> you<00:04:52.720> want<00:04:52.800> to
money to other people so if you want to
actually<00:04:53.040> have<00:04:53.199> a<00:04:53.280> look<00:04:53.520> at<00:04:53.919> there's<00:04:54.080> lots<00:04:54.320> of
actually have a look at there's lots of
things<00:04:54.560> that<00:04:54.639> have<00:04:54.720> been<00:04:54.880> changed<00:04:55.280> you<00:04:55.280> know
like they said they've begun they've
reduced<00:04:59.840> tax<00:05:00.160> on<00:05:00.320> beer<00:05:00.639> i<00:05:00.720> think<00:05:00.800> that's<00:05:01.039> just
reduced tax on beer i think that's just
to<00:05:01.280> get<00:05:01.440> some<00:05:01.520> good<00:05:01.680> headlines<00:05:02.160> but<00:05:02.320> let's
to get some good headlines but let's
look<00:05:02.639> at<00:05:02.720> the<00:05:02.880> big<00:05:03.039> hitters<00:05:03.440> the<00:05:03.520> things<00:05:03.759> which
look at the big hitters the things which
are<00:05:04.000> going<00:05:04.080> to<00:05:04.560> make<00:05:04.800> or<00:05:04.960> lose<00:05:05.199> big<00:05:05.360> amounts<00:05:05.680> of
the national insurance rise that that's
big<00:05:12.639> that's<00:05:12.960> big<00:05:13.199> that's<00:05:13.440> literally<00:05:14.160> two<00:05:14.320> and
big that's big that's literally two and
a half<00:05:14.639> percent<00:05:15.280> off<00:05:15.520> of<00:05:15.680> the<00:05:15.759> pay<00:05:16.000> packet<00:05:16.320> of
pounds you pay an extra two and a half
percent<00:05:22.160> that's<00:05:22.320> big<00:05:22.479> that's<00:05:22.800> that's<00:05:22.960> a<00:05:23.039> lot
percent that's big that's that's a lot
of<00:05:23.280> money<00:05:24.080> it's<00:05:24.400> that<00:05:24.560> all<00:05:24.720> coming<00:05:25.039> in<00:05:25.360> next
of money it's that all coming in next
tax<00:05:25.840> year<00:05:26.000> so<00:05:26.160> april<00:05:26.479> next<00:05:26.720> year<00:05:27.360> and<00:05:27.440> you'll
tax year so april next year and you'll
see<00:05:27.840> that<00:05:28.160> that<00:05:28.320> will<00:05:28.400> be<00:05:28.560> less<00:05:28.720> money<00:05:29.039> in<00:05:29.120> your
see that that will be less money in your
pay<00:05:29.520> packet<00:05:29.840> and<00:05:29.919> that<00:05:30.479> makes<00:05:30.720> the<00:05:30.880> government
pay packet and that makes the government
a<00:05:31.360> lot<00:05:31.520> of<00:05:31.600> money<00:05:31.840> so<00:05:32.000> there's<00:05:32.240> a<00:05:32.400> big
significant increase in tax on working
people<00:05:35.440> i<00:05:35.600> want<00:05:35.759> to<00:05:35.840> make<00:05:36.000> it<00:05:36.080> clear<00:05:36.400> that
people i want to make it clear that
national<00:05:37.039> insurance<00:05:37.759> and<00:05:37.919> i've<00:05:38.000> got<00:05:38.160> a<00:05:38.160> good
national insurance and i've got a good
video<00:05:38.639> explaining<00:05:38.960> this<00:05:39.120> on<00:05:39.199> my<00:05:39.360> youtube<00:05:39.600> if
national insurance is different from
income<00:05:43.039> tax<00:05:43.280> because<00:05:43.520> it's<00:05:43.919> only<00:05:44.400> paid<00:05:44.639> by
who make their money off of
assets<00:05:50.479> and<00:05:50.639> you<00:05:50.720> know<00:05:50.960> i<00:05:51.039> make<00:05:51.199> money<00:05:51.440> off<00:05:51.520> of
assets because i'm a wealthy person
we<00:05:53.840> will<00:05:54.000> pay<00:05:54.160> nothing<00:05:54.639> well<00:05:54.800> for<00:05:54.960> people<00:05:55.120> will
we will pay nothing well for people will
pay<00:05:55.360> nothing<00:05:55.919> if<00:05:56.080> you<00:05:56.240> have<00:05:56.560> a<00:05:56.720> billion<00:05:57.039> pounds
in assets you'll pay nothing so
an<00:05:59.520> increase<00:05:59.919> in<00:06:00.000> tax<00:06:00.240> on<00:06:00.319> ordinary<00:06:00.720> working
people that's number one
where<00:06:02.639> have<00:06:02.720> they<00:06:02.800> given<00:06:03.120> back<00:06:03.440> so<00:06:03.600> the<00:06:03.680> one
if you're not working you get universal
credit<00:06:16.160> but<00:06:16.319> as<00:06:16.479> you<00:06:16.639> start<00:06:16.800> working<00:06:17.039> that
credit but as you start working that
gets<00:06:17.440> taken<00:06:17.680> away<00:06:18.400> what<00:06:18.560> that<00:06:18.720> means<00:06:19.120> is
you start working out and also losing
your<00:06:22.400> benefit<00:06:23.199> the<00:06:23.360> effective<00:06:23.919> tax<00:06:24.160> rate<00:06:24.319> you
your benefit the effective tax rate you
pay<00:06:24.639> is<00:06:24.720> really<00:06:24.880> really<00:06:25.120> high<00:06:25.280> i<00:06:25.360> think<00:06:25.520> it<00:06:25.600> was
so they're gonna take that universal
credit<00:06:29.680> away<00:06:29.919> a<00:06:30.000> bit<00:06:30.080> more<00:06:30.240> slowly<00:06:30.639> which
credit away a bit more slowly which
means<00:06:31.120> if<00:06:31.199> you're<00:06:31.360> on<00:06:31.919> a<00:06:32.000> low<00:06:32.240> income<00:06:32.960> and
you're still claiming benefits then
you'll<00:06:35.280> get<00:06:35.440> a<00:06:35.440> little<00:06:35.600> bit<00:06:35.759> more<00:06:36.160> so<00:06:36.400> it's<00:06:36.479> a
you'll get a little bit more so it's a
bit<00:06:36.720> of<00:06:36.800> a<00:06:36.880> shift<00:06:37.120> away<00:06:37.520> from<00:06:37.759> ordinary
but at the same time they're taking away
the<00:06:42.720> 20<00:06:42.960> pound<00:06:43.280> uplift<00:06:43.600> so<00:06:43.759> that<00:06:44.000> basically
you're super rich um and i've been
blowing<00:06:57.039> the<00:06:57.120> horn<00:06:57.280> about<00:06:57.520> this<00:06:57.599> because<00:06:57.759> i
blowing the horn about this because i
think<00:06:58.000> this<00:06:58.240> is<00:06:58.639> a<00:06:58.800> disgrace<00:06:59.280> given<00:06:59.520> how<00:06:59.599> much
but it's a difficult time and you know
when<00:07:18.960> we<00:07:19.039> get<00:07:19.120> a<00:07:19.199> bit<00:07:19.280> of<00:07:19.360> time<00:07:19.520> i'd<00:07:19.599> like<00:07:19.759> to
when we get a bit of time i'd like to
talk<00:07:20.080> about<00:07:20.240> that<00:07:20.479> inflation<00:07:20.800> and<00:07:20.880> why<00:07:21.039> it's
happening because i think the government
is<00:07:22.319> involved<00:07:22.639> in<00:07:22.720> that<00:07:22.800> as<00:07:22.960> well<00:07:23.440> but<00:07:23.680> just
there's a little bit given back to lower
income<00:07:30.319> people<00:07:30.960> but<00:07:31.280> it's<00:07:31.440> given<00:07:31.680> with<00:07:31.840> one
income people but it's given with one
hand<00:07:32.160> taken<00:07:32.400> with<00:07:32.479> the<00:07:32.560> other<00:07:32.800> because<00:07:33.039> on<00:07:33.120> the
hand taken with the other because on the
other<00:07:33.440> hand<00:07:33.599> of<00:07:33.680> that<00:07:33.840> if<00:07:33.919> you're<00:07:34.080> on<00:07:34.160> a<00:07:34.240> low
and i always seem to be giving these
messages<00:07:46.560> it's<00:07:46.639> not<00:07:46.800> a<00:07:46.879> great<00:07:47.039> picture<00:07:47.360> for
messages it's not a great picture for
most<00:07:47.680> people<00:07:48.319> yeah<00:07:48.879> i<00:07:48.960> mean<00:07:49.199> because<00:07:49.520> i<00:07:49.599> was
most people yeah i mean because i was
looking<00:07:50.000> at<00:07:50.400> the<00:07:50.560> taper<00:07:50.879> rate<00:07:51.120> that<00:07:51.199> they
looking at the taper rate that they
referred<00:07:51.680> to<00:07:52.000> in<00:07:52.400> um<00:07:52.639> on<00:07:52.720> the<00:07:52.879> universal
referred to in um on the universal
credit<00:07:53.759> i<00:07:53.840> think<00:07:54.160> he<00:07:54.240> said<00:07:54.400> he's<00:07:54.560> going<00:07:54.639> to<00:07:54.720> go
credit i think he said he's going to go
down<00:07:55.120> from<00:07:55.840> 63<00:07:56.400> pence<00:07:56.639> or<00:07:56.800> something<00:07:56.960> like
down from 63 pence or something like
that<00:07:57.199> to<00:07:57.440> 53<00:07:57.919> pence<00:07:58.240> by<00:07:58.479> december<00:07:58.879> 1st<00:07:59.199> which
that to 53 pence by december 1st which
is<00:08:00.000> the<00:08:00.639> it's<00:08:00.879> the<00:08:00.960> threshold<00:08:01.360> at<00:08:01.440> which<00:08:01.599> you
is the it's the threshold at which you
start<00:08:02.000> to<00:08:02.240> lose<00:08:02.960> your<00:08:03.120> additional<00:08:03.520> bit<00:08:04.000> i<00:08:04.080> mean
start to lose your additional bit i mean
you<00:08:05.280> look<00:08:05.440> at<00:08:05.520> the<00:08:05.680> estimates<00:08:06.160> and<00:08:06.240> this<00:08:06.319> is
you look at the estimates and this is
the<00:08:06.479> one<00:08:06.639> thing<00:08:06.720> that<00:08:06.879> always<00:08:07.120> drives<00:08:07.360> me<00:08:07.520> nuts
the one thing that always drives me nuts
when<00:08:07.919> you<00:08:08.160> when<00:08:08.400> you<00:08:08.639> listen<00:08:09.039> to<00:08:09.360> a<00:08:09.520> budget
but how do the numbers actually
translate<00:08:15.199> and<00:08:15.360> as<00:08:15.520> you've<00:08:16.160> as<00:08:16.479> you<00:08:16.720> said
translate and as you've as you said
there<00:08:17.599> with<00:08:17.840> the<00:08:17.919> cost<00:08:18.240> of<00:08:18.960> fuel<00:08:19.280> prices
there with the cost of fuel prices
energy<00:08:20.160> prices<00:08:20.639> already<00:08:20.960> going<00:08:21.280> up<00:08:21.759> you<00:08:21.919> know
energy prices already going up you know
that<00:08:22.319> that<00:08:22.639> cut<00:08:22.960> to<00:08:23.280> the<00:08:23.919> to<00:08:24.080> the<00:08:24.160> universal
that that cut to the to the universal
credit<00:08:24.879> in<00:08:24.960> terms<00:08:25.199> of<00:08:25.280> that<00:08:25.360> 20<00:08:25.520> pound<00:08:25.759> that
credit in terms of that 20 pound that
they've<00:08:26.000> taken<00:08:26.319> away<00:08:26.879> how<00:08:27.039> much<00:08:27.280> of<00:08:27.360> a
difference is that actually really going
to<00:08:29.199> make<00:08:29.440> on<00:08:29.520> a<00:08:29.599> day-to-day<00:08:30.080> basis<00:08:30.560> for<00:08:30.800> people
to make on a day-to-day basis for people
realistically<00:08:32.320> i<00:08:32.640> know<00:08:32.800> that<00:08:32.959> he's<00:08:33.200> increased
you know the the news of increasing uh
the<00:08:36.560> national<00:08:37.120> living<00:08:37.440> wage<00:08:37.760> from<00:08:38.320> 8<00:08:38.560> pound
that does help
but<00:08:45.360> when<00:08:45.519> you<00:08:45.760> offset<00:08:46.080> that<00:08:46.240> again<00:08:46.480> just<00:08:46.640> in
but when you offset that again just in
line<00:08:46.959> with<00:08:47.120> information<00:08:47.680> really<00:08:48.160> yeah<00:08:48.399> just<00:08:48.640> a
line of inflation especially because
lower<00:08:51.120> income<00:08:51.360> people<00:08:51.680> spend<00:08:52.000> more<00:08:52.160> of<00:08:52.240> their
lower income people spend more of their
income<00:08:52.880> on<00:08:52.959> the<00:08:53.040> things<00:08:53.279> which<00:08:53.440> are<00:08:53.519> going<00:08:53.760> up
absolutely absolutely was there anything
else<00:08:59.760> that<00:08:59.839> kind<00:09:00.000> of<00:09:00.160> jumped<00:09:00.480> out<00:09:00.640> to<00:09:00.800> you
else that kind of jumped out to you
because<00:09:01.360> there's<00:09:01.600> a<00:09:01.680> couple<00:09:01.920> of<00:09:02.000> things<00:09:02.240> that
because there's a couple of things that
i<00:09:02.480> wanted<00:09:02.720> to<00:09:02.880> kind<00:09:03.120> of<00:09:03.279> like<00:09:03.519> touch<00:09:03.760> on<00:09:04.320> a<00:09:04.399> bit
i wanted to kind of like touch on a bit
later<00:09:04.959> on<00:09:05.279> and<00:09:05.360> there<00:09:05.519> was<00:09:05.760> one<00:09:06.000> there<00:09:06.160> was<00:09:06.480> one
later on and there was one there was one
part<00:09:06.880> of<00:09:06.959> the<00:09:07.040> budget<00:09:07.360> that<00:09:07.519> he<00:09:08.160> that<00:09:08.399> he<00:09:08.640> spoke
that
or<00:09:28.560> he<00:09:28.720> alluded<00:09:29.040> to<00:09:29.200> the<00:09:29.279> fact<00:09:29.600> of<00:09:30.000> what<00:09:30.240> the
without addressing the tax system
yeah<00:09:57.200> this<00:09:57.440> is<00:09:57.519> the<00:09:57.600> kind<00:09:57.839> of<00:09:57.920> thing<00:09:58.080> which
yeah this is the kind of thing which
governments<00:09:58.640> love<00:09:58.800> to<00:09:58.959> say<00:09:59.200> which<00:09:59.440> is<00:10:00.080> we're
governments love to say which is we're
we<00:10:00.880> want<00:10:01.040> to<00:10:01.120> be<00:10:01.200> fiscally<00:10:01.600> responsible<00:10:02.000> we're
more than we take in taxes
uh<00:10:06.800> and<00:10:06.959> people<00:10:07.200> like<00:10:07.360> to<00:10:07.440> hear<00:10:07.600> that<00:10:07.760> i<00:10:07.760> think
uh and people like to hear that i think
but<00:10:08.560> i<00:10:08.720> think<00:10:08.880> people<00:10:09.200> should<00:10:09.360> be<00:10:09.760> a<00:10:09.920> little
look back at during covered the
government<00:10:14.560> did<00:10:14.640> a<00:10:14.720> huge<00:10:14.959> amount<00:10:15.120> of<00:10:15.200> money
450 billion pounds they spent extra
during<00:10:18.000> kobe<00:10:18.399> which<00:10:18.640> is<00:10:18.800> massive<00:10:19.120> by<00:10:19.279> the<00:10:19.360> way
during kobe which is massive by the way
it's<00:10:19.680> the<00:10:19.760> next<00:10:20.000> it's<00:10:20.160> 10<00:10:20.480> 000<00:10:20.640> pounds<00:10:20.880> per
adult in the country enormous amount
you<00:10:23.680> can't<00:10:23.920> get<00:10:24.079> that<00:10:24.240> money<00:10:24.480> out<00:10:24.560> of<00:10:24.560> nowhere
it's very difficult to very rapidly
raise<00:10:27.519> taxes<00:10:27.839> like<00:10:28.000> that<00:10:28.480> so<00:10:28.640> what<00:10:28.800> did<00:10:28.959> they
essentially by printing it um
and<00:10:34.880> that<00:10:35.519> what<00:10:35.680> that<00:10:35.920> meant<00:10:36.160> i<00:10:36.240> think<00:10:36.399> if<00:10:36.480> you
covered was a much more significant real
economic<00:10:43.279> crisis<00:10:43.600> you<00:10:43.680> know<00:10:43.839> people<00:10:44.079> actually
economic crisis you know people actually
genuinely<00:10:44.800> had<00:10:44.880> to<00:10:44.959> stay<00:10:45.120> at<00:10:45.200> home<00:10:46.000> but
to borrow and spend
and<00:10:51.920> it<00:10:52.000> meant<00:10:52.240> that<00:10:52.800> there<00:10:52.959> was<00:10:53.200> much<00:10:53.440> less
and it meant that there was much less
much<00:10:54.079> less<00:10:54.399> loss<00:10:54.640> of<00:10:54.800> job<00:10:55.279> and<00:10:55.519> much<00:10:55.760> less<00:10:56.000> loss
much less loss of job and much less loss
of<00:10:56.320> income<00:10:56.560> than<00:10:56.800> it<00:10:56.880> was<00:10:56.959> in<00:10:57.040> 2008<00:10:58.079> so<00:10:58.720> if
of income than it was in 2008 so if
they're<00:10:59.040> going<00:10:59.200> to<00:10:59.279> tie<00:10:59.440> their<00:10:59.600> hands<00:10:59.839> on
things like this
they're<00:11:01.839> going<00:11:01.920> to<00:11:02.000> say<00:11:02.160> we're<00:11:02.240> not<00:11:02.399> going<00:11:02.480> to
options right which are raising taxes
and<00:11:06.640> we<00:11:06.880> see<00:11:07.040> that<00:11:07.440> they<00:11:07.600> prefer<00:11:07.920> to<00:11:08.079> raise
taxing instead of borrowing but who are
you<00:11:20.399> going<00:11:20.560> to<00:11:20.640> tax<00:11:21.200> the<00:11:21.360> question<00:11:21.839> the
you going to tax the question the
question<00:11:22.240> is<00:11:22.399> always<00:11:22.720> who<00:11:23.040> are<00:11:23.200> you<00:11:23.360> going<00:11:23.600> to
the average billionaire makes 400
million<00:11:31.680> pounds<00:11:32.079> in<00:11:32.240> one<00:11:32.399> year<00:11:32.640> of<00:11:32.720> crisis
million pounds in one year of crisis
and<00:11:34.000> then<00:11:34.480> someone<00:11:34.720> earning<00:11:35.040> 30<00:11:35.279> grand<00:11:35.519> a<00:11:35.680> year
and then someone earning 30 grand a year
has<00:11:36.320> to<00:11:36.399> pay<00:11:36.560> 500<00:11:36.959> quid<00:11:37.200> extra<00:11:37.440> tax<00:11:38.160> yeah<00:11:38.560> you
has to pay 500 quid extra tax yeah you
know<00:11:38.880> so<00:11:39.440> i<00:11:39.680> want<00:11:39.839> to<00:11:40.160> just<00:11:40.800> take<00:11:41.040> it<00:11:41.200> we<00:11:41.279> always
these billionaires to accumulate 106
billion<00:11:49.279> pounds<00:11:49.680> during<00:11:49.920> a<00:11:50.000> crisis<00:11:50.720> is<00:11:50.880> that
billion pounds during a crisis is that
fiscally<00:11:51.440> responsible<00:11:52.240> you<00:11:52.399> know<00:11:52.880> so<00:11:53.120> okay<00:11:53.519> so
fiscally responsible you know so okay so
i<00:11:54.560> i<00:11:54.800> know<00:11:54.959> that<00:11:55.279> there'll<00:11:55.600> be<00:11:55.760> people<00:11:56.000> who
i i know that there'll be people who
will<00:11:56.320> watch<00:11:56.720> this<00:11:56.959> stream<00:11:57.680> after<00:11:58.000> the<00:11:58.160> fact
will watch this stream after the fact
that<00:11:58.639> may<00:11:58.800> not<00:11:58.959> necessarily<00:11:59.440> be<00:11:59.600> here<00:11:59.839> right
that may not necessarily be here right
now<00:12:00.639> that<00:12:00.800> will<00:12:01.120> say<00:12:01.360> they<00:12:01.519> will<00:12:01.680> ask<00:12:01.920> this<00:12:02.160> one
now that will say they will ask this one
question<00:12:02.800> and<00:12:02.880> i<00:12:02.959> think<00:12:03.120> i<00:12:03.200> know<00:12:03.360> the<00:12:03.519> answer
question and i think i know the answer
to<00:12:03.839> it<00:12:03.920> but<00:12:04.079> i'm<00:12:04.160> going<00:12:04.240> to<00:12:04.480> ask<00:12:04.720> you<00:12:04.880> it<00:12:05.040> anyway
this whole trickle down economics
doesn't<00:12:23.200> work<00:12:23.440> if<00:12:23.519> you<00:12:23.760> tax<00:12:24.000> the<00:12:24.160> wealthy<00:12:24.800> it
what is your response to that having
been<00:12:33.680> in<00:12:33.760> the<00:12:33.920> environment<00:12:34.320> where<00:12:34.560> you<00:12:34.800> are<00:12:34.959> in
economy so you can see
and<00:12:37.440> you<00:12:37.519> have<00:12:37.760> made<00:12:37.920> a<00:12:38.000> lot<00:12:38.160> of<00:12:38.320> money
markets and the economic outcomes for
the<00:12:43.760> last<00:12:44.399> good<00:12:44.639> good<00:12:44.800> enough<00:12:45.120> years<00:12:45.839> why<00:12:46.079> not
the last good good enough years why not
tax<00:12:47.120> how<00:12:47.279> would<00:12:47.440> you<00:12:47.760> tax<00:12:48.160> them<00:12:48.480> i<00:12:48.560> guess<00:12:48.800> is
so this yeah this question gets thrown
at<00:13:01.279> me<00:13:01.360> all<00:13:01.519> the<00:13:01.600> time<00:13:01.839> which<00:13:02.000> is<00:13:02.160> look<00:13:02.399> if<00:13:02.720> you
at me all the time which is look if you
can't<00:13:03.040> tax<00:13:03.440> them<00:13:04.000> if<00:13:04.079> you<00:13:04.240> tax<00:13:04.480> them<00:13:04.560> they'll
if they leave the money's gone there's
nothing<00:13:07.839> we<00:13:07.920> can<00:13:08.079> do<00:13:08.720> and<00:13:08.959> um<00:13:09.680> i<00:13:09.839> understand
nothing we can do and um i understand
people<00:13:10.480> saying<00:13:10.720> this<00:13:10.880> but<00:13:11.040> i<00:13:11.120> think<00:13:11.279> this<00:13:11.920> the
people saying this but i think this the
reason<00:13:12.399> people<00:13:12.639> say<00:13:12.800> this<00:13:13.040> is<00:13:13.200> because<00:13:13.360> we
reason people say this is because we
have<00:13:14.320> in<00:13:14.480> our<00:13:14.639> society<00:13:15.040> and<00:13:15.200> our<00:13:15.360> media<00:13:15.680> kind
of simplistic conception of what it
means<00:13:18.079> to<00:13:18.160> be<00:13:18.320> rich<00:13:18.560> and<00:13:18.639> what<00:13:18.720> a<00:13:18.800> wealthy
means to be rich and what a wealthy
person<00:13:19.440> is<00:13:20.079> which<00:13:20.320> is<00:13:20.800> we<00:13:20.959> imagine<00:13:21.760> this<00:13:22.000> guy
person is which is we imagine this guy
he's<00:13:22.399> a<00:13:22.480> billionaire<00:13:23.040> we<00:13:23.120> imagine<00:13:23.440> he's<00:13:23.600> just
he's a billionaire we imagine he's just
got<00:13:23.839> like<00:13:24.000> a<00:13:24.079> massive<00:13:24.959> you<00:13:25.040> know<00:13:25.279> like
got like a massive you know like
swimming<00:13:26.320> pool<00:13:26.480> full<00:13:26.639> of<00:13:26.800> cash<00:13:27.120> loads<00:13:27.360> and
swimming pool full of cash loads and
loads<00:13:27.680> of<00:13:27.760> cash<00:13:27.920> huge<00:13:28.160> bags<00:13:28.399> for<00:13:28.560> the<00:13:28.639> cash<00:13:28.880> if
loads of cash huge bags for the cash if
we<00:13:29.040> tax<00:13:29.360> him<00:13:29.600> he'll<00:13:29.920> leave<00:13:30.399> packs<00:13:30.720> all<00:13:30.800> the
we tax him he'll leave packs all the
bags<00:13:31.120> in<00:13:31.360> the<00:13:31.440> cash<00:13:31.680> and<00:13:31.760> suitcases<00:13:32.240> and<00:13:32.320> goes
bags in the cash and suitcases and goes
and<00:13:32.560> the<00:13:32.639> cash<00:13:32.880> is<00:13:33.040> gone<00:13:33.360> but<00:13:33.600> that<00:13:33.760> is<00:13:33.920> not
actually what welfare people are wealthy
people<00:13:36.560> yeah<00:13:36.720> of<00:13:36.800> course<00:13:37.040> they<00:13:37.200> do<00:13:37.360> have<00:13:37.440> some
people yeah of course they do have some
cash<00:13:37.920> but<00:13:38.079> the<00:13:38.240> vast<00:13:38.480> majority<00:13:38.800> of<00:13:38.880> the<00:13:38.959> wealth
land in this country
debt<00:13:46.639> a<00:13:46.720> lot<00:13:46.880> of<00:13:46.880> what<00:13:47.040> they<00:13:47.120> have<00:13:47.360> is<00:13:47.680> is<00:13:47.920> other
debt a lot of what they have is is other
people's<00:13:48.480> debt<00:13:48.720> that<00:13:49.040> you<00:13:49.120> know<00:13:49.440> the<00:13:49.600> debt
people's debt that you know the debt
that<00:13:50.000> people<00:13:50.320> out<00:13:50.720> list<00:13:50.959> they<00:13:51.040> might<00:13:51.199> have<00:13:51.360> on
that people out list they might have on
their<00:13:51.600> mortgage<00:13:52.079> or<00:13:52.160> in<00:13:52.320> their<00:13:52.480> car<00:13:53.120> that<00:13:53.360> is
their mortgage or in their car that is
owed<00:13:53.839> to<00:13:54.000> a<00:13:54.079> wealthy<00:13:54.399> person<00:13:54.720> that<00:13:54.880> is<00:13:54.959> part<00:13:55.120> of
so if they leave the properties are
still<00:14:03.600> here<00:14:04.079> the<00:14:04.240> land<00:14:04.480> is<00:14:04.639> still<00:14:04.880> here<00:14:05.440> the
still here the land is still here the
people<00:14:05.839> who<00:14:06.000> are<00:14:06.240> in<00:14:06.399> debt<00:14:06.720> are<00:14:06.880> still<00:14:07.120> here
and the customers for their companies
are<00:14:09.199> still<00:14:09.440> here<00:14:10.079> so<00:14:10.560> we<00:14:10.800> can<00:14:11.040> tax<00:14:11.279> them<00:14:11.519> on
their assets you don't need their
physical<00:14:14.000> presence<00:14:14.959> to<00:14:15.120> be<00:14:15.360> here<00:14:15.519> you<00:14:15.680> know
physical presence to be here you know
what<00:14:15.839> i<00:14:15.920> mean<00:14:16.160> so<00:14:16.560> i<00:14:16.639> think<00:14:16.800> we<00:14:16.959> need<00:14:17.040> to<00:14:17.199> start
what i mean so i think we need to start
looking<00:14:17.600> at<00:14:17.760> look<00:14:18.160> who<00:14:18.399> owns<00:14:18.800> the<00:14:18.959> things<00:14:19.199> in
looking at look who owns the things in
our<00:14:19.440> country<00:14:19.920> and<00:14:20.000> you<00:14:20.160> know<00:14:20.240> we've<00:14:20.399> spoken
about explaining to people more clearly
what<00:14:22.720> is<00:14:22.800> wealth<00:14:23.120> i've<00:14:23.279> got<00:14:23.360> a<00:14:23.440> video<00:14:23.600> about<00:14:23.839> it
what is wealth i've got a video about it
we<00:14:24.000> did<00:14:24.160> a<00:14:24.240> long<00:14:24.399> podcast<00:14:24.880> on<00:14:25.040> it
we did a long podcast on it
these<00:14:26.480> guys<00:14:26.800> own<00:14:27.040> our<00:14:27.279> country<00:14:27.680> the<00:14:27.839> assets<00:14:28.160> in
our country if they leave
those<00:14:30.639> assets<00:14:31.040> are<00:14:31.120> still<00:14:31.279> here<00:14:31.519> and<00:14:31.600> we<00:14:31.680> can
those assets are still here and we can
tax<00:14:32.079> them<00:14:32.240> so<00:14:32.399> i<00:14:32.480> think<00:14:32.560> we<00:14:32.720> need<00:14:32.880> to<00:14:32.959> start
our our country they own our houses they
own<00:14:40.800> our<00:14:40.959> supermarkets<00:14:41.600> they<00:14:41.839> own<00:14:42.240> our<00:14:42.480> land
they own our electricity providers that
own<00:14:45.440> our<00:14:45.519> natural<00:14:45.839> resources<00:14:46.399> and<00:14:46.560> you<00:14:46.639> know
i think you make a really good point
there<00:14:53.600> because<00:14:54.399> i<00:14:54.560> mean<00:14:54.800> especially<00:14:55.199> if<00:14:55.279> you
there because i mean especially if you
look<00:14:55.519> at<00:14:55.680> london<00:14:56.079> it's<00:14:56.240> probably<00:14:56.480> a<00:14:56.560> prime
look at london it's probably a prime
example<00:14:57.199> of<00:14:57.279> this<00:14:57.519> all<00:14:57.600> the<00:14:57.760> houses<00:14:58.160> in
owned by foreign nationals for example
and<00:15:04.959> you<00:15:05.199> get<00:15:05.440> into<00:15:05.600> the<00:15:05.760> nitty<00:15:06.000> gritty<00:15:06.320> of<00:15:06.480> you
not lived in more in most cases
that's<00:15:17.279> a<00:15:17.360> property<00:15:17.680> that's<00:15:18.000> out<00:15:18.079> of<00:15:18.160> the
circulation which further then goes to
increase<00:15:21.040> the<00:15:21.360> the<00:15:21.680> demand<00:15:22.160> problem<00:15:22.800> well<00:15:23.040> the
it's taken it back very much to the
basics<00:15:29.440> of<00:15:29.839> okay<00:15:30.240> what<00:15:30.639> what<00:15:30.880> are<00:15:30.959> the
fundamental principles
i<00:15:33.519> guess<00:15:33.759> the<00:15:33.839> big<00:15:34.079> question<00:15:34.399> will<00:15:34.560> be<00:15:34.720> for
i guess the big question will be for
many<00:15:35.040> people<00:15:35.360> is<00:15:35.440> well<00:15:35.600> how<00:15:35.759> do<00:15:35.839> you<00:15:36.000> actually
and i think that's probably where you
start<00:15:41.120> getting<00:15:41.440> into<00:15:41.759> the<00:15:42.160> the<00:15:42.399> whole<00:15:42.720> issue
start getting into the the whole issue
of<00:15:43.519> from<00:15:43.839> a<00:15:44.399> political<00:15:45.040> point<00:15:45.279> of<00:15:45.360> view<00:15:45.600> from<00:15:45.759> a
of from a political point of view from a
governmental<00:15:46.399> point<00:15:46.639> of<00:15:46.720> view<00:15:47.279> is<00:15:47.440> there<00:15:47.600> the
governmental point of view is there the
will<00:15:48.079> there<00:15:48.320> to<00:15:48.560> actually<00:15:48.959> do<00:15:49.199> that<00:15:49.680> and<00:15:49.839> do
will there to actually do that and do
they<00:15:50.160> have<00:15:50.320> the<00:15:50.560> brass<00:15:50.959> to<00:15:51.120> actually<00:15:51.440> do<00:15:51.600> that
themselves and all of their friends i
guess<00:15:57.600> yeah<00:15:57.839> i<00:15:57.920> mean<00:15:58.079> this<00:15:58.320> is<00:15:58.480> the<00:15:58.560> big
guess yeah i mean this is the big
concern<00:15:59.199> right<00:15:59.440> look<00:15:59.759> i<00:15:59.839> know<00:16:00.000> i<00:16:00.079> keep<00:16:00.240> banging
billionaire that's not a millionaire a
billionaire<00:16:06.639> that<00:16:06.800> means<00:16:07.040> he<00:16:07.199> has<00:16:07.279> wealth<00:16:07.519> of
billionaire that means he has wealth of
over<00:16:07.920> 1<00:16:08.399> 000<00:16:08.800> million<00:16:09.199> pounds<00:16:09.600> okay<00:16:10.079> that<00:16:10.240> is
probably pass down to the chancellor's
kids<00:16:18.800> the<00:16:18.880> chance<00:16:19.120> of<00:16:19.199> kids<00:16:19.360> will<00:16:19.519> probably<00:16:19.920> be
billionaires does he want billionaires
to<00:16:21.839> pay<00:16:22.000> for<00:16:22.320> higher<00:16:22.560> taxes<00:16:22.880> knowing<00:16:23.120> that<00:16:23.199> his
kids will probably be billionaires and
you<00:16:25.040> know<00:16:25.199> it's<00:16:25.279> not<00:16:25.440> just<00:16:25.600> a<00:16:25.680> chance<00:16:26.000> you<00:16:26.079> know
you know it's not just a chance you know
david<00:16:26.560> cameron<00:16:27.120> when<00:16:27.279> he<00:16:27.360> left<00:16:27.600> office<00:16:27.920> he
david cameron when he left office he
went<00:16:28.160> to<00:16:28.240> work<00:16:28.399> for<00:16:28.560> green<00:16:28.720> sale<00:16:28.959> and<00:16:29.040> he<00:16:29.120> made
went to work for green sale and he made
10<00:16:29.440> million<00:16:29.759> pounds<00:16:30.079> so<00:16:30.240> now<00:16:30.399> he's<00:16:30.639> an
they become multi-millionaires when they
leave<00:16:46.000> office<00:16:46.560> so<00:16:47.040> it's<00:16:47.199> kind<00:16:47.360> of<00:16:47.519> not<00:16:47.680> in
leave office so it's kind of not in
their<00:16:47.920> interest<00:16:48.240> to<00:16:48.399> raise<00:16:48.639> taxes<00:16:49.040> on<00:16:49.360> on<00:16:49.519> the
their interest to raise taxes on on the
very<00:16:49.839> rich<00:16:50.079> because<00:16:50.320> they<00:16:50.880> if<00:16:50.959> they're<00:16:51.120> not
very rich because they if they're not
very<00:16:51.519> rich<00:16:51.839> now<00:16:52.079> will<00:16:52.240> probably<00:16:52.480> become<00:16:52.800> very
very rich now will probably become very
rich<00:16:53.279> later<00:16:53.920> and<00:16:54.000> you<00:16:54.079> know<00:16:54.240> that's<00:16:54.560> why
rich later and you know that's why
i<00:16:56.160> always<00:16:56.560> try<00:16:56.720> and<00:16:56.880> talk<00:16:57.199> to<00:16:57.360> ordinary<00:16:57.839> people
i always try and talk to ordinary people
and<00:16:58.160> say<00:16:58.399> look<00:16:59.120> it's<00:16:59.360> people<00:16:59.759> like<00:17:00.000> you
your communities your families that are
being<00:17:03.199> hurt<00:17:03.440> here<00:17:03.600> and<00:17:03.680> being<00:17:03.920> taxed<00:17:04.240> and
enforce our political power on these
people<00:17:14.799> the<00:17:14.880> way<00:17:15.039> that<00:17:15.199> we<00:17:15.280> can<00:17:15.679> you<00:17:15.760> know
people the way that we can you know
by<00:17:16.720> voting<00:17:17.120> by<00:17:17.360> complaining<00:17:18.000> you<00:17:18.079> know<00:17:18.240> what<00:17:18.319> i
by voting by complaining you know what i
mean<00:17:18.559> by<00:17:18.720> talking<00:17:19.039> in<00:17:19.199> the<00:17:19.280> media<00:17:20.079> this<00:17:20.319> is<00:17:20.480> the
mean by talking in the media this is the
it's<00:17:21.679> down<00:17:21.919> to<00:17:22.079> us<00:17:22.240> because<00:17:22.959> the<00:17:23.039> politicians
it's down to us because the politicians
are<00:17:23.600> not<00:17:23.760> going<00:17:23.760> to<00:17:23.839> do<00:17:24.000> it<00:17:24.079> for<00:17:24.160> us<00:17:24.319> unless<00:17:24.480> we
are not going to do it for us unless we
make<00:17:24.720> them<00:17:24.880> do<00:17:25.039> it<00:17:25.600> um<00:17:26.240> it's<00:17:26.480> interesting<00:17:27.280> i
this is probably about a month or so
maybe<00:17:32.640> a<00:17:32.720> month<00:17:32.960> and<00:17:33.039> a<00:17:33.039> half<00:17:33.200> maybe<00:17:33.440> two
maybe a month and a half maybe two
months<00:17:33.919> ago<00:17:34.400> and<00:17:34.559> i<00:17:34.640> was<00:17:34.799> going<00:17:34.880> to<00:17:34.960> do<00:17:35.039> a<00:17:35.120> video
months ago and i was going to do a video
on<00:17:35.440> it<00:17:35.520> and<00:17:35.600> i<00:17:35.679> completely<00:17:36.080> forgot<00:17:36.320> in<00:17:36.400> the<00:17:36.480> end
on it and i completely forgot in the end
something<00:17:36.880> else<00:17:37.039> came<00:17:37.280> up<00:17:37.919> but<00:17:38.080> it<00:17:38.320> had<00:17:38.480> to<00:17:38.559> do
and there was a whole conversation on on
one<00:17:52.480> of<00:17:52.559> the<00:17:52.720> forums<00:17:53.200> that<00:17:53.360> was<00:17:53.520> like<00:17:53.760> well
in this and in this world of inheritance
attacks<00:18:06.559> and<00:18:06.960> inheritance<00:18:07.440> tax<00:18:07.679> it<00:18:07.840> is<00:18:08.000> a<00:18:08.160> form
i can't remember if you i can't there
was<00:18:12.320> a<00:18:12.480> there<00:18:12.720> was<00:18:12.799> something<00:18:13.039> that<00:18:13.200> stood<00:18:13.520> out
was a there was something that stood out
to<00:18:13.679> me<00:18:13.919> on<00:18:14.000> that<00:18:14.320> around<00:18:14.640> the<00:18:14.799> inheritance
to things that essentially it was going
to<00:18:19.679> be<00:18:19.840> passed<00:18:20.160> down<00:18:20.559> whatever<00:18:20.960> it<00:18:21.039> was<00:18:21.200> that
to be passed down whatever it was that
he<00:18:21.440> passed<00:18:21.760> on<00:18:21.840> we<00:18:22.000> don't<00:18:22.160> know<00:18:22.240> how<00:18:22.400> big<00:18:22.559> the
he passed on we don't know how big the
estate<00:18:22.960> was<00:18:23.200> going<00:18:23.280> to<00:18:23.360> be<00:18:23.520> but<00:18:23.679> whatever<00:18:24.000> it
estate was going to be but whatever it
was<00:18:24.240> that<00:18:24.400> he<00:18:24.480> was<00:18:24.640> going<00:18:24.720> to<00:18:24.799> pass<00:18:25.120> down<00:18:25.840> is
yeah but the general public won't get to
see<00:18:34.000> what's<00:18:34.320> actually<00:18:34.640> been<00:18:34.880> passed<00:18:35.120> down<00:18:35.760> and
see what's actually been passed down and
i<00:18:36.000> think<00:18:36.160> that's<00:18:36.480> just<00:18:36.720> a<00:18:36.799> continuation<00:18:37.440> of
i think that's just a continuation of
what<00:18:37.679> you're<00:18:37.760> trying<00:18:38.000> to<00:18:38.559> trying<00:18:38.799> to<00:18:38.960> say
there really yeah and i mean
people<00:18:41.520> don't<00:18:41.679> like<00:18:41.840> inheritance<00:18:42.320> tax<00:18:42.640> a<00:18:42.720> lot
people don't like inheritance tax a lot
of<00:18:42.960> people<00:18:43.280> and<00:18:43.440> i<00:18:43.600> totally<00:18:43.840> understand<00:18:44.320> that
but the situation right now is
if<00:18:47.360> you<00:18:47.520> come<00:18:47.679> from<00:18:47.840> an<00:18:48.000> average<00:18:48.240> family<00:18:48.960> or
channel was all about
um<00:18:57.440> if<00:18:57.600> you<00:18:57.679> get<00:18:57.840> yourself<00:18:58.160> into<00:18:58.320> a<00:18:58.400> well-paid
um if you get yourself into a well-paid
job<00:18:59.039> which<00:18:59.200> is<00:18:59.360> you<00:18:59.440> know<00:18:59.600> one<00:18:59.760> of<00:18:59.840> the<00:18:59.919> best
job which is you know one of the best
ways<00:19:00.400> to<00:19:00.480> do<00:19:00.720> it<00:19:00.960> it's<00:19:01.120> not<00:19:01.280> easy<00:19:01.520> but<00:19:01.679> one<00:19:01.840> of
ways to do it it's not easy but one of
the<00:19:01.919> best<00:19:02.080> ways<00:19:02.320> to<00:19:02.400> do<00:19:02.559> it<00:19:02.960> you're<00:19:03.120> going<00:19:03.280> to
the best ways to do it you're going to
be<00:19:03.440> paying<00:19:04.160> once<00:19:04.400> you<00:19:04.480> add<00:19:04.720> everything<00:19:05.679> income
be paying once you add everything income
tax<00:19:06.320> national<00:19:06.640> insurance<00:19:07.039> more<00:19:07.200> than<00:19:07.360> 50<00:19:07.840> tax
and you can work your nuts off and i
know<00:19:12.000> because<00:19:12.240> i've<00:19:12.400> done<00:19:12.640> it<00:19:12.799> and<00:19:12.880> you're
going to pay i was paying 50 income tax
i'm<00:19:15.200> more<00:19:15.360> than<00:19:15.520> 60<00:19:16.000> total<00:19:16.320> tax<00:19:17.120> um
i'm more than 60 total tax um
and<00:19:19.280> yet<00:19:19.520> look<00:19:19.840> you<00:19:19.919> know<00:19:20.240> i'm<00:19:20.400> out<00:19:20.559> there
and yet look you know i'm out there
saying<00:19:20.960> i'm<00:19:21.120> a<00:19:21.200> millionaire<00:19:21.600> so<00:19:21.760> i<00:19:22.000> made<00:19:22.240> that
saying i'm a millionaire so i made that
money<00:19:22.720> and<00:19:22.960> i<00:19:23.120> paid<00:19:23.280> my<00:19:23.440> 50<00:19:24.080> and<00:19:24.160> i'm<00:19:24.240> proud<00:19:24.480> to
money and i paid my 50 and i'm proud to
have<00:19:24.640> done<00:19:24.880> it<00:19:24.960> because<00:19:25.200> it<00:19:25.280> supports<00:19:25.840> the
country and the schools and the
hospitals<00:19:27.440> and<00:19:27.840> and<00:19:28.000> the<00:19:28.080> society<00:19:28.559> that<00:19:28.640> we
live in
but<00:19:29.919> at<00:19:30.000> the<00:19:30.080> same<00:19:30.240> time<00:19:30.400> as<00:19:30.559> i'm<00:19:30.720> paying<00:19:30.960> 50<00:19:31.520> on
westminster inherits 12 billion and pays
nothing<00:19:37.039> right<00:19:37.360> you<00:19:37.440> know<00:19:37.600> i<00:19:37.679> mean<00:19:37.919> like
nothing right you know i mean like
how<00:19:39.039> can<00:19:39.200> that<00:19:39.360> possibly<00:19:39.760> be<00:19:40.000> fair<00:19:40.240> you<00:19:40.320> know<00:19:40.400> i
how can that possibly be fair you know i
mean<00:19:40.640> this<00:19:40.799> guy<00:19:41.039> has<00:19:41.200> made<00:19:41.840> six<00:19:42.160> thousand
mean this guy has made six thousand
times<00:19:42.720> as<00:19:42.880> much<00:19:43.039> money<00:19:43.360> without<00:19:43.679> getting<00:19:43.919> out
and he hasn't paid any tax and i think
it's<00:19:48.400> easy<00:19:48.640> to<00:19:48.720> think<00:19:48.880> oh<00:19:49.039> well<00:19:49.200> that's<00:19:49.440> damn
affect us well look
it's<00:19:52.559> not<00:19:52.799> just<00:19:53.440> cash<00:19:53.679> in<00:19:53.760> a<00:19:53.840> bag<00:19:54.400> these<00:19:54.640> are
properties these guys these guys own
your<00:19:56.480> house<00:19:56.720> you<00:19:56.880> know<00:19:56.960> what<00:19:57.039> i<00:19:57.120> mean<00:19:57.520> and<00:19:57.600> then
they take your
income<00:20:00.240> and<00:20:00.320> they<00:20:00.480> use<00:20:00.720> it<00:20:01.039> to<00:20:01.200> buy<00:20:01.360> even<00:20:01.600> more
income and they use it to buy even more
houses<00:20:02.159> so<00:20:02.320> then<00:20:02.880> if<00:20:03.039> you're<00:20:03.280> allowing<00:20:03.600> these
billionaires to have 12 billion pounds
pay<00:20:05.760> no<00:20:06.080> tax<00:20:06.559> keep<00:20:06.799> all<00:20:06.880> the<00:20:07.039> income<00:20:07.280> from<00:20:07.520> it
pay no tax keep all the income from it
pay<00:20:07.919> no<00:20:08.159> tax<00:20:08.559> you<00:20:08.720> can't<00:20:08.880> be<00:20:09.039> surprised<00:20:09.919> that
pay no tax you can't be surprised that
when<00:20:10.240> you<00:20:10.480> or<00:20:10.559> your<00:20:10.720> kids<00:20:10.960> go<00:20:11.120> out<00:20:11.200> to<00:20:11.280> buy<00:20:11.440> a
they're competing with the duke of
westminster's<00:20:14.880> kids<00:20:15.280> you<00:20:15.360> know<00:20:15.440> what<00:20:15.520> i<00:20:15.600> mean
if these guys have unbelievable amounts
of<00:20:19.919> money<00:20:20.159> of<00:20:20.320> course<00:20:20.559> houses<00:20:20.880> will<00:20:21.039> be
expensive because you're competing with
them<00:20:23.360> you<00:20:23.440> know<00:20:23.520> what<00:20:23.600> i<00:20:23.679> mean<00:20:23.919> so<00:20:24.080> um
them you know what i mean so um
i<00:20:25.840> think<00:20:26.000> it's<00:20:26.159> just<00:20:26.320> about<00:20:26.480> a<00:20:26.559> fair<00:20:26.799> balance
i think it's just about a fair balance
of<00:20:27.200> the<00:20:27.360> tax<00:20:27.600> system<00:20:28.000> you<00:20:28.080> know<00:20:28.159> what<00:20:28.240> i<00:20:28.320> mean
of the tax system you know what i mean
i'm<00:20:28.720> happy<00:20:29.039> to<00:20:29.200> pay<00:20:29.440> tax<00:20:29.919> but<00:20:30.559> it's<00:20:30.799> gone<00:20:30.960> back
i'm happy to pay tax but it's gone back
it's<00:20:31.280> almost<00:20:31.600> like<00:20:32.080> you<00:20:32.240> know<00:20:32.320> we<00:20:32.480> have<00:20:32.559> this
it's almost like you know we have this
idea<00:20:32.960> the<00:20:33.039> ritual<00:20:33.440> the<00:20:33.520> more<00:20:33.679> tax<00:20:33.919> you<00:20:34.000> pay<00:20:34.159> but
idea the ritual the more tax you pay but
it's<00:20:34.559> almost<00:20:34.799> gone<00:20:34.960> back<00:20:35.120> to<00:20:35.200> the<00:20:35.280> sort<00:20:35.520> of
it's almost gone back to the sort of
like<00:20:36.080> the<00:20:36.240> middle<00:20:36.559> ages<00:20:36.880> idea<00:20:37.120> where<00:20:37.360> if
like the middle ages idea where if
you're<00:20:37.600> like<00:20:37.840> a<00:20:37.919> peasant<00:20:38.240> and<00:20:38.320> you<00:20:38.480> work<00:20:38.880> you
pay tax to the
to<00:20:40.720> that<00:20:40.960> aristocracy<00:20:41.760> you<00:20:41.840> know<00:20:41.919> what<00:20:42.000> i<00:20:42.080> mean
to that aristocracy you know what i mean
because<00:20:42.480> they<00:20:42.640> are<00:20:42.720> not<00:20:42.880> paying<00:20:43.200> it<00:20:43.440> they're
because they are not paying it they're
not<00:20:43.760> paying<00:20:44.080> tax<00:20:44.400> you<00:20:44.480> know<00:20:44.559> i<00:20:44.640> mean
not paying tax you know i mean
i'm<00:20:45.679> happy<00:20:46.000> to<00:20:46.159> pay<00:20:46.320> my<00:20:46.480> tax<00:20:46.720> but<00:20:46.880> why<00:20:47.039> are<00:20:47.120> the
i'm happy to pay my tax but why are the
billionaires<00:20:47.679> not<00:20:47.840> paying<00:20:48.080> it<00:20:48.240> why<00:20:48.480> am<00:20:48.640> i
billionaires not paying it why am i
paying<00:20:48.960> 50<00:20:49.760> and<00:20:49.919> a<00:20:50.000> billionaire's<00:20:50.400> pay<00:20:50.640> five
paying 50 and a billionaire's pay five
percent<00:20:51.280> there's<00:20:51.520> just<00:20:51.760> no<00:20:52.000> way<00:20:52.159> to<00:20:52.320> justify
and i paid 50 most of my career in in
financial<00:21:03.440> services<00:21:04.320> and<00:21:04.559> trust<00:21:04.880> me<00:21:05.039> it<00:21:05.200> hurts
financial services and trust me it hurts
when<00:21:05.600> you<00:21:05.760> look<00:21:05.840> at<00:21:05.919> it<00:21:06.080> on<00:21:06.159> the<00:21:06.320> on<00:21:06.400> the<00:21:06.480> pay<00:21:06.720> on
but
with<00:21:09.679> that<00:21:09.840> being<00:21:10.159> said<00:21:10.880> it<00:21:11.120> is<00:21:11.280> kind<00:21:11.440> of<00:21:11.520> like
with that being said it is kind of like
if<00:21:11.840> you<00:21:11.919> go<00:21:12.080> to<00:21:12.159> hospital<00:21:12.480> you<00:21:12.640> use<00:21:12.799> public
if you go to hospital you use public
services<00:21:13.840> it<00:21:14.000> is<00:21:14.159> there<00:21:14.400> as<00:21:14.559> a<00:21:14.640> bill<00:21:15.200> and<00:21:15.360> i
people will basically label is well
you're<00:21:19.600> 50<00:21:20.240> or<00:21:20.480> my<00:21:20.720> 50<00:21:21.360> when<00:21:21.520> i<00:21:21.679> was<00:21:21.840> working
you're 50 or my 50 when i was working
it's<00:21:22.559> very<00:21:22.880> very<00:21:23.200> different<00:21:24.000> to<00:21:24.159> a<00:21:24.320> 5<00:21:24.960> from<00:21:25.200> a
percent they're contributing way more on
a<00:21:35.120> monetary<00:21:36.240> figure<00:21:36.960> in<00:21:37.120> terms<00:21:37.440> of<00:21:37.679> tax<00:21:38.000> and
the loopholes that are available at that
kind<00:21:46.000> of<00:21:46.159> level<00:21:46.799> are<00:21:46.960> not<00:21:47.520> available<00:21:48.080> to
everyday people
yeah<00:21:50.559> that's<00:21:50.799> going<00:21:50.960> to<00:21:51.039> work<00:21:51.520> let's<00:21:51.679> go<00:21:51.760> into
yeah that's going to work let's go into
the<00:21:52.000> numbers<00:21:52.320> of<00:21:52.400> this<00:21:52.559> right<00:21:52.799> let's<00:21:53.039> assume
the numbers of this right let's assume
you<00:21:53.440> have<00:21:53.600> 1<00:21:53.840> billion<00:21:54.159> pounds<00:21:54.799> a<00:21:54.880> billionaire
you have 1 billion pounds a billionaire
you<00:21:55.679> just<00:21:55.840> made<00:21:56.080> it<00:21:56.320> just<00:21:56.480> scraped<00:21:56.799> into
you will make
cash<00:22:00.799> flow<00:22:00.960> off<00:22:01.120> of<00:22:01.200> that<00:22:01.360> asset<00:22:01.600> all<00:22:01.679> right<00:22:01.840> so
cash flow off of that asset all right so
let's<00:22:02.159> assume<00:22:02.400> they<00:22:02.559> make<00:22:02.720> three<00:22:02.880> percent<00:22:03.200> if
you're a billionaire you'll probably be
able<00:22:04.559> to<00:22:04.640> make<00:22:04.799> three<00:22:04.960> percent<00:22:05.280> it's<00:22:05.360> not<00:22:05.520> like
super aggressive that means they're
making<00:22:07.360> every<00:22:07.520> year<00:22:07.760> 30<00:22:08.080> million<00:22:08.480> pounds<00:22:08.880> okay
making every year 30 million pounds okay
so<00:22:09.760> let's<00:22:09.919> say<00:22:10.159> we<00:22:10.320> say<00:22:10.720> we<00:22:10.880> only<00:22:11.120> tax<00:22:11.360> him<00:22:11.440> five
okay so we tax five percent of 30
million<00:22:15.039> pounds<00:22:15.200> so<00:22:15.360> we're<00:22:15.440> taxing<00:22:15.760> one<00:22:15.919> and<00:22:16.000> a
million pounds so we're taxing one and a
half<00:22:16.240> million<00:22:16.480> pounds<00:22:16.880> great<00:22:17.120> we<00:22:17.280> made<00:22:17.440> one
half million pounds great we made one
and<00:22:17.679> a<00:22:17.679> half<00:22:17.840> million<00:22:18.080> pounds<00:22:18.320> off<00:22:18.400> of<00:22:18.480> that
and a half million pounds off of that
guy<00:22:19.200> well<00:22:19.440> the<00:22:19.600> other<00:22:19.840> 28<00:22:20.240> and<00:22:20.320> a<00:22:20.400> half<00:22:20.559> million
guy well the other 28 and a half million
pounds<00:22:21.039> goes<00:22:21.200> to<00:22:21.280> him<00:22:21.840> okay<00:22:22.400> what<00:22:22.640> is<00:22:22.720> he<00:22:22.880> going
pounds goes to him okay what is he going
to<00:22:23.039> do<00:22:23.200> with<00:22:23.360> 20<00:22:23.600> and<00:22:23.679> a<00:22:23.679> half<00:22:23.840> million<00:22:24.159> pounds
to do with 20 and a half million pounds
he<00:22:24.559> ain't<00:22:24.640> going<00:22:24.799> to<00:22:24.880> go<00:22:24.960> and<00:22:25.120> spend<00:22:25.280> twenty
he ain't going to go and spend twenty
and<00:22:25.679> a<00:22:25.679> half<00:22:25.840> million<00:22:26.080> pounds<00:22:26.320> in<00:22:26.400> vegas<00:22:26.799> right
and a half million pounds in vegas right
he's<00:22:27.360> gonna<00:22:27.520> spend<00:22:27.760> one<00:22:27.919> million<00:22:28.159> pounds<00:22:28.400> a
he's gonna spend one million pounds a
year<00:22:28.640> living<00:22:28.880> like<00:22:29.039> the<00:22:29.200> queen<00:22:29.679> and<00:22:29.840> he's
year living like the queen and he's
gonna<00:22:30.159> use<00:22:30.320> the<00:22:30.400> other<00:22:30.559> 27.5<00:22:31.280> million<00:22:31.600> pounds
gonna use the other 27.5 million pounds
to<00:22:32.159> buy<00:22:32.400> houses<00:22:32.799> to<00:22:32.960> buy<00:22:33.200> land<00:22:33.600> to<00:22:33.760> buy<00:22:34.000> stocks
to buy houses to buy land to buy stocks
and<00:22:34.400> shares<00:22:34.880> and<00:22:34.960> that's<00:22:35.200> going<00:22:35.280> to<00:22:35.360> push<00:22:35.600> the
and shares and that's going to push the
price<00:22:36.000> of<00:22:36.080> those<00:22:36.320> things<00:22:36.640> up<00:22:37.039> you<00:22:37.120> know<00:22:37.280> like
price of those things up you know like
it<00:22:38.240> drives<00:22:38.559> me<00:22:38.799> mad<00:22:39.039> you<00:22:39.120> know<00:22:39.360> we're<00:22:39.520> sitting
guy's out there making 27.5 million
pounds<00:22:46.960> a<00:22:47.039> year<00:22:47.280> just<00:22:47.440> for<00:22:47.600> getting<00:22:47.840> out<00:22:47.919> of
pounds a year just for getting out of
bed<00:22:48.400> it<00:22:48.559> doesn't<00:22:48.799> matter<00:22:48.960> how<00:22:49.120> many<00:22:49.360> houses
bed it doesn't matter how many houses
you<00:22:49.919> build<00:22:50.320> he's<00:22:50.559> the<00:22:50.720> guy<00:22:50.880> who's<00:22:51.039> going<00:22:51.120> to
you build he's the guy who's going to
buy<00:22:51.360> them<00:22:51.600> you<00:22:51.760> know<00:22:51.919> what<00:22:52.000> i<00:22:52.080> mean<00:22:52.559> because
buy them you know what i mean because
you<00:22:53.039> know<00:22:53.360> 27<00:22:54.080> that's<00:22:54.320> a<00:22:54.400> guy<00:22:54.559> with<00:22:54.640> 1<00:22:54.880> billion
you know 27 that's a guy with 1 billion
pounds<00:22:55.520> you<00:22:55.600> know<00:22:55.679> what<00:22:55.760> i<00:22:55.840> mean<00:22:56.240> so<00:22:56.480> if<00:22:56.559> you
pounds you know what i mean so if you
don't<00:22:56.960> tax<00:22:57.280> these<00:22:57.440> guys<00:22:58.240> then<00:22:58.720> they<00:22:58.960> generate
don't tax these guys then they generate
so<00:22:59.679> much<00:22:59.919> cash<00:23:00.159> flow<00:23:00.799> from<00:23:01.039> the<00:23:01.120> rest<00:23:01.360> of<00:23:01.440> us<00:23:01.600> by
so much cash flow from the rest of us by
the<00:23:01.840> way<00:23:02.159> you<00:23:02.240> know<00:23:02.559> we<00:23:02.720> are<00:23:02.799> the<00:23:02.960> guys<00:23:03.280> who<00:23:03.360> go
the way you know we are the guys who go
to<00:23:03.600> work<00:23:03.840> not<00:23:04.000> them<00:23:04.240> you<00:23:04.320> know<00:23:04.480> i<00:23:04.559> mean
to work not them you know i mean
from<00:23:05.840> us<00:23:06.240> and<00:23:06.960> we<00:23:07.120> are<00:23:07.200> not<00:23:07.360> going<00:23:07.440> to<00:23:07.520> be<00:23:07.679> able
from us and we are not going to be able
if<00:23:07.919> you're<00:23:08.159> out<00:23:08.320> there<00:23:08.799> and<00:23:09.039> in<00:23:09.120> 50<00:23:09.440> grand<00:23:09.679> a
if you're out there and in 50 grand a
year<00:23:09.919> or<00:23:10.080> even<00:23:10.240> a<00:23:10.400> hundred<00:23:10.720> grand<00:23:10.960> a<00:23:11.039> year<00:23:11.520> how
year or even a hundred grand a year how
are<00:23:11.840> you<00:23:11.919> going<00:23:12.080> to<00:23:12.320> compete<00:23:12.640> with<00:23:12.799> a<00:23:12.880> guy
are you going to compete with a guy
who's<00:23:13.200> making<00:23:13.440> 27.5<00:23:14.080> million<00:23:14.320> pounds<00:23:14.559> a<00:23:14.640> year
who's making 27.5 million pounds a year
i<00:23:15.200> think<00:23:15.360> we<00:23:15.520> need<00:23:15.679> to<00:23:16.159> open<00:23:16.480> our<00:23:16.640> eyes<00:23:16.799> a
i think we need to open our eyes a
little<00:23:17.039> bit<00:23:17.200> like<00:23:17.520> we've<00:23:17.760> been<00:23:18.000> so<00:23:18.159> naive<00:23:18.799> as
little bit like we've been so naive as
to<00:23:19.120> like<00:23:19.280> what<00:23:19.679> it<00:23:19.840> does<00:23:20.080> the<00:23:20.159> economy<00:23:20.559> when
to like what it does the economy when
you<00:23:20.799> allow<00:23:21.039> the<00:23:21.120> rich<00:23:21.440> to<00:23:21.520> have<00:23:21.679> so<00:23:21.919> much<00:23:22.159> money
you allow the rich to have so much money
it<00:23:22.960> drives<00:23:23.280> you<00:23:23.360> mad<00:23:23.520> people<00:23:23.760> don't<00:23:23.919> connect
it should be clear right but obviously
but<00:23:32.159> then<00:23:32.400> again<00:23:32.640> it's<00:23:32.799> this<00:23:33.120> this<00:23:33.280> is<00:23:33.360> the
but then again it's this this is the
kind<00:23:33.600> of<00:23:33.679> stuff<00:23:33.840> that<00:23:34.080> isn't<00:23:34.320> really<00:23:34.559> taught
the underlying operational system in the
education<00:23:42.799> system<00:23:43.039> which<00:23:43.360> even<00:23:43.520> if<00:23:43.600> you<00:23:43.679> study
education system which even if you study
economics<00:23:44.400> you're<00:23:44.559> not<00:23:44.720> going<00:23:44.799> to<00:23:44.880> talk<00:23:45.039> about
economics you're not going to talk about
you<00:23:45.679> don't<00:23:45.840> really<00:23:46.000> talk<00:23:46.240> about<00:23:46.400> wealth<00:23:46.640> and
assets seriously at all
exactly<00:23:49.520> and<00:23:49.600> i<00:23:49.679> think<00:23:49.919> this<00:23:50.080> is<00:23:50.320> this<00:23:50.559> is<00:23:50.720> the
exactly and i think this is this is the
kind<00:23:51.039> of<00:23:51.120> stuff<00:23:51.360> that<00:23:51.600> should<00:23:51.919> be<00:23:52.080> explained
that into the conversation in schools
for<00:24:06.159> example<00:24:06.559> if<00:24:06.720> you<00:24:07.039> if<00:24:07.200> you<00:24:07.360> manage<00:24:07.600> to<00:24:07.760> get
for example if you if you manage to get
a<00:24:07.919> house<00:24:08.159> on<00:24:08.320> mayfair<00:24:08.880> or<00:24:09.039> monopoly<00:24:09.679> you<00:24:09.840> build
a house on mayfair or monopoly you build
some<00:24:10.640> houses<00:24:10.960> and<00:24:11.279> hotels<00:24:11.679> in<00:24:11.760> there<00:24:12.240> anybody
some houses and hotels in there anybody
who<00:24:12.720> passes<00:24:13.120> through<00:24:13.360> pays<00:24:13.679> rent<00:24:14.240> and<00:24:14.480> i<00:24:14.720> like
who passes through pays rent and i like
in<00:24:15.200> life<00:24:15.440> sometimes<00:24:16.000> to<00:24:16.240> monopoly<00:24:16.799> and<00:24:16.880> the
in life sometimes to monopoly and the
fact<00:24:17.200> that<00:24:17.600> you<00:24:17.760> know<00:24:17.840> a<00:24:17.919> lot<00:24:18.080> of<00:24:18.240> us<00:24:18.320> will<00:24:18.799> will
fact that you know a lot of us will will
go<00:24:19.279> out<00:24:19.760> we'll<00:24:19.919> earn<00:24:20.080> a<00:24:20.159> load<00:24:20.400> of<00:24:20.480> money<00:24:21.200> but<00:24:21.440> do
go out we'll earn a load of money but do
really<00:24:21.840> really<00:24:22.080> well<00:24:22.400> but<00:24:22.559> we<00:24:22.799> never<00:24:23.120> really
really really well but we never really
acquire<00:24:23.840> the<00:24:24.000> assets<00:24:24.960> during<00:24:25.200> the<00:24:25.279> times<00:24:25.679> you
acquire the assets during the times you
just<00:24:25.919> pass<00:24:26.159> in<00:24:26.320> a<00:24:26.400> monopoly<00:24:26.880> board<00:24:27.440> yeah
that's the best collecting salary not
buying<00:24:30.159> anything<00:24:30.480> along<00:24:30.640> the<00:24:30.720> way<00:24:30.880> from<00:24:31.039> an
like i do like i know you do um you're
thinking<00:24:36.240> oh<00:24:36.400> if<00:24:36.480> i<00:24:36.559> can<00:24:36.720> make<00:24:36.880> like<00:24:37.039> a<00:24:37.120> 60
thinking oh if i can make like a 60
grand<00:24:37.600> the<00:24:37.679> 80<00:24:37.919> grand<00:24:38.080> a<00:24:38.320> job<00:24:38.480> i'm<00:24:38.640> sorted<00:24:39.039> and
you're just thinking about day-to-day
cash<00:24:40.640> because<00:24:40.799> it's<00:24:40.960> a<00:24:41.039> lot<00:24:41.120> of<00:24:41.200> money<00:24:41.440> but<00:24:41.840> you
resources corporations like you know i
like<00:24:49.360> to<00:24:49.440> tell<00:24:49.600> people<00:24:49.840> walk<00:24:50.000> down<00:24:50.159> the<00:24:50.240> high
like to tell people walk down the high
street<00:24:50.799> look<00:24:51.039> at<00:24:51.120> all<00:24:51.200> them<00:24:51.360> buildings<00:24:51.840> all
street look at all them buildings all
them<00:24:52.240> shops<00:24:52.799> the<00:24:52.960> pubs<00:24:53.279> the<00:24:53.360> bars<00:24:53.600> the<00:24:53.760> clubs
the supermarket somebody owns all of
them<00:24:57.279> things<00:24:57.520> and<00:24:57.679> it's<00:24:57.840> not<00:24:58.159> it's<00:24:58.240> not
them things and it's not it's not
ordinary<00:24:58.960> people<00:24:59.360> you<00:24:59.520> know<00:24:59.600> what<00:24:59.679> i<00:24:59.760> mean
yeah they're very wealthy own those
things<00:25:03.279> so<00:25:03.440> i<00:25:03.520> think<00:25:03.760> i<00:25:03.840> just<00:25:04.000> want<00:25:04.080> to<00:25:04.159> sort<00:25:04.320> of
things so i think i just want to sort of
open<00:25:04.720> people's<00:25:05.039> eyes<00:25:05.279> a<00:25:05.360> little<00:25:05.520> bit<00:25:05.760> to<00:25:05.840> say
it's not just cash in a bag if these
guys<00:25:09.520> are<00:25:09.600> super<00:25:09.919> super<00:25:10.159> super<00:25:10.400> super<00:25:10.720> rich
guys are super super super super rich
then<00:25:12.240> they<00:25:12.559> make<00:25:12.880> money<00:25:13.279> from<00:25:13.520> those<00:25:13.760> assets
then they make money from those assets
coming<00:25:14.559> from<00:25:14.799> you<00:25:15.279> who<00:25:15.440> don't<00:25:15.679> own<00:25:15.760> those
coming from you who don't own those
assets<00:25:16.159> every<00:25:16.320> time<00:25:16.400> you<00:25:16.480> go<00:25:16.640> to<00:25:16.720> the
assets every time you go to the
supermarket<00:25:17.600> some<00:25:17.760> of<00:25:17.840> the<00:25:17.919> money<00:25:18.159> goes<00:25:18.240> to
supermarket some of the money goes to
owner<00:25:18.559> of<00:25:18.640> the<00:25:18.720> supermarket<00:25:19.360> when<00:25:19.520> you<00:25:19.600> pay
owner of the supermarket when you pay
your<00:25:19.919> rent<00:25:20.159> it<00:25:20.240> don't<00:25:20.400> disappear<00:25:20.720> when<00:25:20.880> you
your rent it don't disappear when you
pay<00:25:21.039> a<00:25:21.120> mortgage<00:25:21.440> it<00:25:21.520> don't<00:25:21.679> disappear<00:25:22.080> it
pay a mortgage it don't disappear it
goes<00:25:22.480> these<00:25:22.640> wealthy<00:25:23.039> people<00:25:23.679> and<00:25:23.840> if<00:25:24.000> they're
goes these wealthy people and if they're
generating<00:25:24.480> all<00:25:24.559> of<00:25:24.720> those<00:25:24.880> cash<00:25:25.039> flows<00:25:25.440> it's
generating all of those cash flows it's
gonna<00:25:25.919> push<00:25:26.159> the<00:25:26.320> prices<00:25:26.720> of<00:25:26.799> things<00:25:27.039> like
absolutely there are some other bits and
pieces<00:25:31.039> as<00:25:31.120> well<00:25:31.360> in<00:25:31.440> the<00:25:31.600> um<00:25:32.159> and<00:25:32.240> again<00:25:32.480> this
pieces as well in the um and again this
is<00:25:32.880> when<00:25:33.039> you<00:25:33.200> look<00:25:33.279> at<00:25:33.360> the<00:25:33.440> budget<00:25:34.080> we
right so unemployment numbers not as
high<00:25:43.120> as<00:25:43.200> they<00:25:43.440> as<00:25:43.600> they<00:25:43.760> said<00:25:43.919> it<00:25:44.000> was<00:25:44.159> going
high as they as they said it was going
to<00:25:44.320> be<00:25:44.880> or<00:25:44.960> they<00:25:45.120> thought<00:25:45.279> it<00:25:45.360> was<00:25:45.440> going<00:25:45.520> to<00:25:45.600> be
now they will load that and say oh you
know<00:25:51.679> this<00:25:51.840> is<00:25:52.000> fantastic<00:25:52.480> and<00:25:52.640> all<00:25:52.720> that<00:25:52.960> but
that's always been an interesting one
for<00:26:18.400> me<00:26:18.880> because<00:26:19.520> yeah<00:26:19.760> i<00:26:19.840> mean<00:26:20.000> it's<00:26:20.240> great
because it shows that obviously
we're<00:26:22.640> on<00:26:22.720> a<00:26:22.799> path<00:26:23.120> to<00:26:23.279> recovery<00:26:24.000> but<00:26:24.240> on<00:26:24.480> ta<00:26:24.720> on
under a long period of time will know
what<00:26:39.200> a<00:26:39.279> serious<00:26:39.520> problem<00:26:39.840> it<00:26:39.919> can<00:26:40.080> be<00:26:40.720> um
what a serious problem it can be um
and<00:26:42.000> back<00:26:42.480> if<00:26:42.640> you<00:26:42.799> look<00:26:43.200> historically<00:26:43.919> 20<00:26:44.159> 30
years ago especially in some countries
in<00:26:45.760> europe<00:26:46.240> even<00:26:46.480> some<00:26:46.640> now<00:26:46.799> there<00:26:46.880> are
in modern britain with unemployment
benefits<00:26:53.279> being<00:26:53.440> what<00:26:53.600> they<00:26:53.840> are<00:26:54.559> the<00:26:54.799> truth
most people can't be unemployed it's
like<00:26:58.720> not<00:26:58.880> an<00:26:59.039> option<00:26:59.440> really<00:26:59.679> like<00:27:00.080> you
like not an option really like you
cannot<00:27:00.559> afford<00:27:00.880> to<00:27:00.960> be<00:27:01.039> unemployed<00:27:01.360> for<00:27:01.440> a
cannot afford to be unemployed for a
very<00:27:01.600> long<00:27:01.760> period<00:27:02.000> of<00:27:02.080> time<00:27:02.320> so<00:27:02.480> like<00:27:02.880> if<00:27:02.960> you
make unemployment benefits as low as
they<00:27:04.720> are<00:27:05.200> especially<00:27:05.600> in<00:27:05.679> the<00:27:05.679> world<00:27:06.000> when<00:27:06.400> a
they are especially in the world when a
lot<00:27:06.640> of<00:27:06.720> people<00:27:07.039> don't<00:27:07.360> have<00:27:07.600> a<00:27:07.679> lot<00:27:07.840> of<00:27:08.000> wealth
of course unemployment will be low
because<00:27:12.000> people<00:27:12.240> have<00:27:12.400> to<00:27:12.559> get<00:27:12.640> a<00:27:12.720> job<00:27:12.960> and
because people have to get a job and
people<00:27:13.440> yeah<00:27:13.679> exactly<00:27:14.000> like<00:27:14.159> you<00:27:14.320> say<00:27:14.480> like
everything shuts down they have to find
something<00:27:18.000> you<00:27:18.080> know<00:27:18.159> what<00:27:18.240> i<00:27:18.320> mean<00:27:18.640> they're
something you know what i mean they're
going<00:27:18.880> to<00:27:19.039> go<00:27:19.200> and<00:27:19.360> deliver<00:27:19.679> for<00:27:19.840> amazon<00:27:20.159> you
going to go and deliver for amazon you
know what<00:27:20.399> i<00:27:20.480> mean<00:27:20.640> they're<00:27:20.799> going<00:27:20.960> to<00:27:21.039> be
doing deliveroo they're going to be
doing<00:27:22.960> whatever<00:27:23.279> is<00:27:23.440> an<00:27:23.520> option<00:27:23.760> you<00:27:23.840> know<00:27:23.919> i
doing whatever is an option you know i
mean<00:27:24.240> so<00:27:24.799> i<00:27:25.039> actually<00:27:25.279> think<00:27:25.520> in<00:27:25.760> in<00:27:26.080> modern
britain especially because some other
countries<00:27:28.720> do<00:27:28.880> have<00:27:29.360> better<00:27:29.679> safety<00:27:29.919> nets<00:27:30.080> for
you can make the unemployment rate low
just<00:27:35.440> by<00:27:35.600> making<00:27:35.919> it<00:27:36.000> not<00:27:36.159> an<00:27:36.320> option<00:27:36.720> not<00:27:36.880> a
feasible option you basically say look
if<00:27:38.480> you're<00:27:38.640> unemployed<00:27:39.279> we're<00:27:39.440> giving<00:27:39.679> you<00:27:39.760> so
if you're unemployed we're giving you so
little<00:27:40.159> money<00:27:40.480> that<00:27:40.640> you're<00:27:40.799> going<00:27:40.880> to<00:27:40.960> get<00:27:41.120> a
little money that you're going to get a
job<00:27:41.440> you<00:27:41.600> know<00:27:41.679> what<00:27:41.760> i<00:27:41.840> mean<00:27:42.240> and<00:27:42.399> then<00:27:42.559> what
unemployment you get low wages obviously
because<00:27:46.960> if<00:27:47.039> you're<00:27:47.279> forcing<00:27:47.840> everyone<00:27:48.399> to<00:27:48.480> go
because if you're forcing everyone to go
out<00:27:48.799> and<00:27:48.960> like<00:27:49.200> this<00:27:49.520> if<00:27:49.600> you<00:27:49.840> if<00:27:50.000> you're
out and like this if you if you're
making<00:27:50.399> people<00:27:50.640> desperate<00:27:51.039> for<00:27:51.120> a<00:27:51.279> job<00:27:52.000> then
making people desperate for a job then
of<00:27:52.240> course<00:27:52.399> wages<00:27:52.720> will<00:27:52.880> go<00:27:53.039> down<00:27:53.200> because<00:27:53.360> the
employers will know but there's all
these<00:27:54.960> desperate<00:27:55.279> guys<00:27:55.520> out<00:27:55.600> there<00:27:55.679> that<00:27:55.840> need
these desperate guys out there that need
jobs<00:27:56.240> you<00:27:56.240> know<00:27:56.320> what<00:27:56.399> i<00:27:56.480> mean<00:27:56.799> and<00:27:56.960> that<00:27:57.120> is
it drives me mad i remember in 2011 when
i<00:28:01.279> was<00:28:01.440> working<00:28:01.760> we<00:28:01.919> had<00:28:02.080> a<00:28:02.159> very<00:28:02.399> similar
falling quite quickly but costs were
going<00:28:06.720> up<00:28:06.880> a<00:28:06.960> lot<00:28:07.120> and<00:28:07.279> wages<00:28:07.600> were<00:28:07.840> flat<00:28:08.559> and
and i remember thinking man
what<00:28:17.200> is<00:28:17.360> a<00:28:17.440> strong<00:28:17.679> economy<00:28:18.159> to<00:28:18.240> you<00:28:18.399> guys<00:28:19.039> if
what is a strong economy to you guys if
it<00:28:19.279> can<00:28:19.520> involve<00:28:19.840> a<00:28:19.919> cost<00:28:20.240> of<00:28:20.320> living<00:28:20.640> crisis
it can involve a cost of living crisis
like<00:28:22.240> seriously<00:28:22.799> and<00:28:22.960> and<00:28:23.120> we're<00:28:23.279> going<00:28:23.440> back
like seriously and and we're going back
into<00:28:23.840> that<00:28:23.919> situation<00:28:24.480> now<00:28:24.640> because<00:28:24.880> you<00:28:24.960> know
listen i studied economics at london
school<00:28:27.360> of<00:28:27.520> economics<00:28:27.919> at<00:28:28.000> oxford<00:28:28.399> right<00:28:28.720> i
school of economics at oxford right i
know<00:28:29.039> the<00:28:29.200> kind<00:28:29.360> of<00:28:29.440> guys<00:28:29.679> that<00:28:29.840> study
know the kind of guys that study
economics<00:28:30.480> and<00:28:30.559> then<00:28:30.799> places<00:28:31.200> they<00:28:31.360> are<00:28:31.440> not
economics and then places they are not
being<00:28:31.760> hurt<00:28:32.000> by<00:28:32.159> this<00:28:32.399> okay<00:28:32.960> they're<00:28:33.200> sitting
being hurt by this okay they're sitting
back<00:28:33.760> they're<00:28:33.919> looking<00:28:34.159> at<00:28:34.240> the<00:28:34.320> numbers<00:28:34.720> and
they're like well unemployment is low
gdp<00:28:36.880> growth<00:28:37.200> is<00:28:37.279> higher<00:28:37.440> than<00:28:37.600> we<00:28:37.760> thought
gdp growth is higher than we thought
it's<00:28:38.480> a<00:28:38.559> strong<00:28:38.799> economy<00:28:39.679> oh<00:28:39.840> but<00:28:40.000> there's<00:28:40.159> a
it's a strong economy oh but there's a
cost<00:28:40.480> of<00:28:40.559> living<00:28:40.799> crisis<00:28:41.360> you<00:28:41.440> know<00:28:41.520> what<00:28:41.600> i
cost of living crisis you know what i
mean<00:28:42.000> but<00:28:42.399> the<00:28:42.480> cost<00:28:42.720> of<00:28:42.799> living<00:28:43.039> crisis<00:28:43.440> is<00:28:43.520> a
mean but the cost of living crisis is a
weak<00:28:43.840> economy<00:28:44.399> you<00:28:44.559> know<00:28:44.720> i<00:28:44.799> mean<00:28:44.960> like<00:28:45.120> that's
weak economy you know i mean like that's
what<00:28:45.360> i<00:28:45.440> want<00:28:45.520> to<00:28:45.600> tell<00:28:45.840> these<00:28:46.000> guys<00:28:46.240> but<00:28:46.399> um
what i want to tell these guys but um
but<00:28:47.200> that's<00:28:47.440> you<00:28:47.520> know<00:28:47.679> if<00:28:47.760> you<00:28:47.840> don't<00:28:48.080> allow
but that's you know if you don't allow
people<00:28:48.559> to<00:28:48.640> be<00:28:48.799> unemployed<00:28:49.440> if<00:28:49.600> you<00:28:49.679> told<00:28:49.919> if
if you if you lose your job you're going
to<00:28:55.600> be<00:28:55.760> homeless<00:28:56.159> so<00:28:56.320> you're<00:28:56.480> going<00:28:56.559> to<00:28:56.640> find<00:28:56.880> a
to be homeless so you're going to find a
job<00:28:57.279> you<00:28:57.360> know<00:28:57.440> what<00:28:57.520> i<00:28:57.600> mean<00:28:57.840> yeah<00:28:58.320> so<00:28:58.480> if<00:28:58.640> you
job you know what i mean yeah so if you
if<00:28:59.120> you<00:28:59.440> make<00:28:59.679> unemployment<00:29:00.240> an<00:29:00.399> option<00:29:00.720> of
if you make unemployment an option of
course<00:29:01.039> unemployment<00:29:01.440> will<00:29:01.600> be<00:29:01.679> low<00:29:01.919> but<00:29:02.000> what
course unemployment will be low but what
you'll<00:29:02.240> get<00:29:02.399> is<00:29:02.480> low<00:29:02.640> wages<00:29:02.960> and<00:29:03.039> then<00:29:03.120> what
you'll get is low wages and then what
you'll<00:29:03.360> get<00:29:03.520> is<00:29:03.600> a<00:29:03.679> cost<00:29:03.840> of<00:29:03.919> living<00:29:04.159> crisis
you'll get is a cost of living crisis
especially<00:29:05.279> if<00:29:05.440> at<00:29:05.520> the<00:29:05.600> same<00:29:05.840> time<00:29:06.399> you<00:29:06.559> pump
especially if at the same time you pump
400<00:29:07.679> billion<00:29:08.000> pounds<00:29:08.399> into<00:29:08.559> the<00:29:08.640> pockets<00:29:08.960> of
and that one is a complicated one as
well<00:29:22.080> because<00:29:22.399> the<00:29:22.640> argument<00:29:23.039> there<00:29:23.200> will<00:29:23.360> be
well because the argument there will be
well<00:29:23.840> if<00:29:24.000> you<00:29:24.240> raise<00:29:24.480> taxes<00:29:24.880> on<00:29:25.039> businesses
international conglomerates well they
just<00:29:30.720> go<00:29:30.960> off<00:29:31.039> to<00:29:31.279> germany<00:29:31.760> and<00:29:31.840> set<00:29:32.000> up<00:29:32.159> shop
just go off to germany and set up shop
there<00:29:33.039> and<00:29:33.279> you<00:29:33.360> know<00:29:33.520> with<00:29:33.760> brexit<00:29:34.159> there's
there and you know with brexit there's
been<00:29:34.640> stories<00:29:35.039> and<00:29:35.200> and<00:29:35.760> companies<00:29:36.159> that<00:29:36.240> have
been stories and and companies that have
left<00:29:36.559> hsbc<00:29:37.279> moving<00:29:37.760> out<00:29:37.919> into<00:29:38.159> europe<00:29:38.399> and<00:29:38.559> all
left hsbc moving out into europe and all
that<00:29:38.799> kind<00:29:38.960> of<00:29:39.120> stuff<00:29:40.080> how<00:29:40.399> do<00:29:40.559> you<00:29:40.720> but
that kind of stuff how do you but
but<00:29:42.320> then<00:29:42.559> you<00:29:42.799> still<00:29:43.039> look<00:29:43.279> at<00:29:43.360> the<00:29:43.520> likes<00:29:43.919> of
amazon for example share price went
through<00:29:46.480> the<00:29:46.720> roof<00:29:46.960> they<00:29:47.120> did<00:29:47.480> extremely<00:29:48.559> well
through the roof they did extremely well
during<00:29:49.520> covet<00:29:49.919> because<00:29:50.240> of<00:29:50.480> well<00:29:50.640> the<00:29:50.720> fact
that everyone was at home and
amazon<00:29:53.039> was<00:29:53.279> the<00:29:53.360> place<00:29:53.679> to<00:29:54.320> to<00:29:54.720> to<00:29:54.880> basically
taxing businesses to ensure that
actually<00:30:04.240> you<00:30:04.320> know<00:30:04.480> what<00:30:05.120> not<00:30:05.279> only<00:30:05.600> are<00:30:05.679> they
actually you know what not only are they
paying<00:30:06.159> their<00:30:06.399> fair<00:30:06.840> share<00:30:07.919> but<00:30:08.159> also<00:30:08.480> i<00:30:08.640> think
things like you know national eliminate
wage<00:30:10.960> will<00:30:11.120> go<00:30:11.200> a<00:30:11.279> long<00:30:11.440> way<00:30:11.679> to<00:30:11.840> actually
wage will go a long way to actually
forcing<00:30:12.640> the<00:30:12.720> companies<00:30:13.039> to<00:30:13.120> actually<00:30:13.600> pay<00:30:13.919> a
forcing the companies to actually pay a
decent<00:30:14.480> wage<00:30:15.120> how<00:30:15.279> do<00:30:15.360> you<00:30:15.440> get<00:30:15.520> that<00:30:15.840> extra
decent wage how do you get that extra
out<00:30:16.320> of<00:30:16.480> them<00:30:16.720> based<00:30:17.120> on<00:30:17.600> their<00:30:17.760> turnover<00:30:18.480> and
their profits um
in<00:30:20.640> in<00:30:20.720> the<00:30:20.880> uk<00:30:21.200> for<00:30:21.360> example<00:30:21.840> even<00:30:22.000> though<00:30:22.240> a
in in the uk for example even though a
lot<00:30:22.480> of<00:30:22.559> them<00:30:22.640> will<00:30:22.799> be<00:30:22.960> banked<00:30:23.279> offshore
lot of them will be banked offshore
so<00:30:24.720> i<00:30:24.880> think<00:30:25.200> one<00:30:25.440> thing<00:30:25.600> we<00:30:25.760> can<00:30:25.840> do<00:30:26.000> is<00:30:26.159> we<00:30:26.240> can
not based on where their legal
jurisdiction<00:30:30.799> is<00:30:30.880> but<00:30:31.039> on<00:30:31.120> where<00:30:31.279> their<00:30:31.440> sales
jurisdiction is but on where their sales
are<00:30:32.159> like<00:30:32.320> this<00:30:32.559> is<00:30:32.880> it's<00:30:33.120> part<00:30:33.360> of<00:30:33.440> the
are like this is it's part of the
conversation<00:30:34.320> i<00:30:34.480> think<00:30:34.720> it's<00:30:36.159> insane<00:30:36.559> that<00:30:36.640> we
conversation i think it's insane that we
don't<00:30:37.279> do<00:30:37.440> that<00:30:37.760> to<00:30:37.919> be<00:30:38.080> honest<00:30:38.640> you<00:30:38.720> know<00:30:38.799> i
don't do that to be honest you know i
mean<00:30:39.200> why<00:30:39.360> do<00:30:39.520> we<00:30:39.600> allow<00:30:39.840> a<00:30:40.000> company<00:30:40.320> a<00:30:40.399> massive
that's where amazon is based but we know
that<00:30:46.399> 99<00:30:47.039> of<00:30:47.120> themselves<00:30:47.440> are<00:30:47.520> outside<00:30:47.760> of
that 99 of themselves are outside of
ireland<00:30:48.159> you<00:30:48.320> know<00:30:48.320> what<00:30:48.399> i<00:30:48.480> mean<00:30:48.640> so<00:30:48.799> why<00:30:48.960> is
ireland you know what i mean so why is
the<00:30:49.200> profit<00:30:49.440> all<00:30:49.520> booked<00:30:49.760> in<00:30:49.919> ireland<00:30:50.159> you
the profit all booked in ireland you
know<00:30:50.960> we<00:30:51.120> shouldn't<00:30:51.360> allow<00:30:51.679> that<00:30:52.000> you<00:30:52.159> know<00:30:52.240> we
shouldn't allow that and then it's
exactly<00:30:53.919> what<00:30:54.000> i<00:30:54.080> said<00:30:54.240> before<00:30:54.559> you<00:30:54.640> know<00:30:54.880> like
exactly what i said before you know like
we<00:30:55.440> have<00:30:55.600> this<00:30:55.840> idea<00:30:56.080> like<00:30:56.240> the<00:30:56.320> company<00:30:56.640> can
we have this idea like the company can
just<00:30:56.960> go<00:30:57.200> like<00:30:57.360> amazon's<00:30:57.679> just<00:30:57.840> gonna<00:30:58.000> gonna
just go like amazon's just gonna gonna
go<00:30:58.399> to<00:30:58.559> bermuda<00:30:59.039> right<00:30:59.200> yeah<00:30:59.440> amazon<00:30:59.760> does<00:30:59.919> not
exist in bermuda amazon makes its
profits<00:31:02.240> because<00:31:02.559> it<00:31:02.720> sells<00:31:03.360> to<00:31:03.519> people<00:31:03.919> in
profits because it sells to people in
the<00:31:04.159> us<00:31:04.799> in<00:31:04.880> the<00:31:04.960> uk<00:31:05.600> in<00:31:05.679> the<00:31:05.840> eu<00:31:06.399> in<00:31:06.559> japan<00:31:07.200> in
the us in the uk in the eu in japan in
australia<00:31:07.919> in<00:31:08.000> the<00:31:08.159> rich<00:31:08.399> world<00:31:08.640> you<00:31:08.720> know
these countries all suffering similar
problems<00:31:12.480> with<00:31:12.640> regards<00:31:12.960> to<00:31:13.519> not<00:31:13.760> being<00:31:13.919> able
to fund their public services sufficient
money<00:31:18.159> for<00:31:18.240> the<00:31:18.320> richest<00:31:18.720> people<00:31:19.360> so<00:31:19.519> let's
get together and say look
if<00:31:21.519> they<00:31:21.760> go<00:31:21.919> to<00:31:22.080> bermuda<00:31:22.720> then<00:31:22.880> we'll<00:31:23.120> say<00:31:23.279> if
if they go to bermuda then we'll say if
you<00:31:23.519> want<00:31:23.600> to<00:31:23.679> deal<00:31:24.000> in<00:31:24.159> our<00:31:24.320> countries<00:31:24.960> pay
tax in our countries like it's
it's<00:31:27.360> a<00:31:27.519> myth<00:31:27.840> like<00:31:28.240> it's<00:31:28.399> a<00:31:28.480> myth<00:31:28.720> that<00:31:28.880> you
it's a myth like it's a myth that you
know<00:31:29.120> like<00:31:29.600> that<00:31:29.760> the<00:31:29.919> turks<00:31:30.240> and<00:31:30.320> caicos
know like that the turks and caicos
island<00:31:31.120> is<00:31:31.279> holding<00:31:31.919> the<00:31:32.000> world<00:31:32.240> to<00:31:32.399> ransom
island is holding the world to ransom
you<00:31:32.880> know<00:31:32.960> what<00:31:33.039> i<00:31:33.039> mean<00:31:33.279> these<00:31:33.760> these
you know what i mean these these
companies<00:31:34.799> do<00:31:35.039> their<00:31:35.200> business<00:31:36.080> in<00:31:36.240> the<00:31:36.399> rich
companies do their business in the rich
world<00:31:37.039> they<00:31:37.200> make<00:31:37.360> their<00:31:37.519> profits<00:31:38.080> from<00:31:38.240> the
world they make their profits from the
rich<00:31:38.640> world<00:31:39.360> we<00:31:39.519> can<00:31:39.760> tax<00:31:40.000> them<00:31:40.159> we<00:31:40.240> can<00:31:40.320> say<00:31:40.480> if
rich world we can tax them we can say if
you<00:31:40.640> want<00:31:40.720> to<00:31:40.799> do<00:31:40.960> business<00:31:41.279> here<00:31:41.840> you<00:31:42.000> have<00:31:42.159> to
you know i mean like if you want to know
why<00:31:55.679> we<00:31:55.840> don't<00:31:56.080> raise<00:31:56.320> taxes<00:31:56.640> on<00:31:56.720> these<00:31:56.960> guys
why we don't raise taxes on these guys
that<00:31:57.840> is<00:31:58.000> why<00:31:58.159> we<00:31:58.320> don't<00:31:58.480> raise<00:31:58.720> taxes<00:31:59.039> on
that is why we don't raise taxes on
these<00:31:59.279> guys<00:31:59.519> of<00:31:59.600> course<00:31:59.840> we<00:32:00.000> can<00:32:00.159> raise<00:32:00.399> them
these guys of course we can raise them
it's<00:32:00.880> this<00:32:01.120> myth<00:32:01.440> that<00:32:01.519> they're<00:32:01.600> going<00:32:01.760> to<00:32:01.840> go
it's this myth that they're going to go
and<00:32:02.480> they're<00:32:02.640> just<00:32:02.799> going<00:32:02.880> to<00:32:02.960> be<00:32:03.120> in<00:32:03.200> bermuda
and they're just going to be in bermuda
and<00:32:03.760> there's<00:32:03.919> nothing<00:32:04.240> we<00:32:04.320> can<00:32:04.480> possibly<00:32:04.880> do
and there's nothing we can possibly do
there's<00:32:05.519> no<00:32:05.679> way<00:32:05.919> we<00:32:06.000> can<00:32:06.159> tax<00:32:06.480> he<00:32:06.640> lives<00:32:06.799> in
there's no way we can tax he lives in
bermuda<00:32:07.279> now<00:32:07.440> nobody<00:32:07.760> can<00:32:07.840> find<00:32:08.080> him<00:32:08.240> you<00:32:08.320> know
these are the biggest corporations in
the<00:32:11.840> world<00:32:12.559> doing<00:32:12.880> business<00:32:13.200> in<00:32:13.360> our<00:32:13.519> company
the world doing business in our company
their<00:32:14.399> trucks<00:32:14.720> are<00:32:14.799> all<00:32:14.960> over<00:32:15.200> the<00:32:15.279> country<00:32:16.159> we
their trucks are all over the country we
can<00:32:16.480> tax<00:32:16.799> them<00:32:17.200> it's<00:32:17.679> it's<00:32:18.240> a<00:32:18.320> madness
can tax them it's it's a madness
honestly<00:32:19.440> it's<00:32:19.519> a<00:32:19.679> madness<00:32:20.399> what<00:32:20.559> what<00:32:20.720> can
that's where it comes down to political
political<00:32:25.600> um<00:32:26.159> willingness<00:32:26.640> to<00:32:26.799> be<00:32:26.880> able<00:32:27.039> to
political um willingness to be able to
do<00:32:27.279> this<00:32:27.600> and<00:32:27.760> i<00:32:28.159> look<00:32:28.399> when<00:32:28.640> we<00:32:28.720> talk<00:32:28.880> about
do this and i look when we talk about
companies<00:32:29.440> like<00:32:29.600> amazon<00:32:30.080> i'm<00:32:30.240> kind<00:32:30.399> of<00:32:30.559> like
torn because it's kind of like
i<00:32:33.360> understand<00:32:34.080> i<00:32:34.159> mean<00:32:34.399> i<00:32:34.480> use<00:32:34.720> the<00:32:34.799> service
i understand i mean i use the service
i've<00:32:35.279> bought<00:32:35.519> so<00:32:35.679> much<00:32:35.840> stuff<00:32:36.000> from<00:32:36.240> amazon<00:32:36.559> in
ridiculous pretty much everything here
in<00:32:40.960> this<00:32:41.200> room<00:32:41.440> is<00:32:41.600> from<00:32:41.919> amazon<00:32:42.320> in<00:32:42.480> some<00:32:42.640> way
investing on the channel and um
i'm<00:32:48.880> planning<00:32:49.200> a<00:32:49.279> video<00:32:49.519> where<00:32:49.679> i'm<00:32:49.840> going<00:32:49.919> to
i'm planning a video where i'm going to
talk<00:32:50.240> about<00:32:50.559> you<00:32:50.640> know<00:32:50.960> elon<00:32:51.279> musk<00:32:51.679> he's
trillionaire on the planet in human
history<00:32:55.600> because<00:32:55.840> he's<00:32:56.000> got<00:32:56.159> his<00:32:56.320> finger<00:32:56.640> in
history because he's got his finger in
so<00:32:57.039> many<00:32:57.279> pies<00:32:58.159> but<00:32:58.320> when<00:32:58.480> you<00:32:58.640> look<00:32:58.880> at
i always think well okay right so
they've<00:33:03.039> created<00:33:03.519> a<00:33:03.600> business<00:33:03.919> and<00:33:04.080> this<00:33:04.320> is
um ideology around this well you've
created<00:33:08.960> a<00:33:09.039> business<00:33:09.519> that<00:33:10.240> solves<00:33:10.559> a<00:33:10.640> problem
created a business that solves a problem
that<00:33:11.279> provides<00:33:11.679> a<00:33:11.760> service<00:33:12.159> or<00:33:12.320> a<00:33:12.399> product<00:33:13.120> to
that provides a service or a product to
millions<00:33:13.760> of<00:33:13.840> people<00:33:14.640> then<00:33:14.960> you<00:33:15.279> are<00:33:15.760> more
millions of people then you are more
than<00:33:16.159> entitled<00:33:16.640> to<00:33:16.799> reap<00:33:17.039> the<00:33:17.120> rewards<00:33:17.679> of<00:33:17.919> the
success of that business because you
took<00:33:19.600> the<00:33:19.760> risk<00:33:20.000> and<00:33:20.159> all<00:33:20.240> that<00:33:20.399> i<00:33:20.559> completely
but also it's the it's the notion and
jeff<00:33:26.320> bezos<00:33:26.640> said<00:33:26.799> this<00:33:26.960> when<00:33:27.120> he<00:33:27.200> was<00:33:27.360> asked
jeff bezos said this when he was asked
about<00:33:27.840> his<00:33:28.080> net<00:33:28.320> worth<00:33:28.720> and<00:33:29.200> why<00:33:29.519> he<00:33:29.679> should<00:33:29.840> be
billion dollars he goes well if you
think<00:33:34.559> about<00:33:34.720> the<00:33:34.880> value<00:33:35.200> of<00:33:35.279> my<00:33:35.440> business
generated wealth for thousands of people
to<00:33:43.519> the<00:33:43.679> tune<00:33:44.000> of<00:33:44.080> the<00:33:44.240> difference<00:33:44.640> of<00:33:44.720> what
to the tune of the difference of what
i'm<00:33:45.120> worth<00:33:45.440> and<00:33:45.519> i'm<00:33:45.679> like<00:33:45.919> okay<00:33:46.640> i<00:33:46.880> get<00:33:47.039> that
i'm worth and i'm like okay i get that
and<00:33:47.600> because<00:33:47.760> i<00:33:47.919> talk<00:33:48.080> about<00:33:48.399> investing<00:33:48.960> i'm
taking part and buying amazon shares and
all<00:33:55.760> of<00:33:55.840> those<00:33:56.000> kind<00:33:56.159> of<00:33:56.240> things<00:33:56.480> are<00:33:56.640> really
but even with the conversation and the
encouragement<00:34:01.200> of<00:34:01.440> like<00:34:01.760> you<00:34:01.919> need<00:34:02.080> to<00:34:02.240> have<00:34:02.399> a
encouragement of like you need to have a
piece<00:34:02.720> of<00:34:02.880> amazon<00:34:03.200> you<00:34:03.279> need<00:34:03.440> to<00:34:03.519> have<00:34:03.600> a<00:34:03.679> piece
piece of amazon you need to have a piece
of<00:34:04.000> facebook<00:34:04.399> and<00:34:04.480> all<00:34:04.559> this<00:34:04.720> kind<00:34:04.960> of<00:34:05.039> stuff
of facebook and all this kind of stuff
it<00:34:06.320> still<00:34:06.720> comes<00:34:07.039> down<00:34:07.519> to<00:34:07.840> the<00:34:08.079> fundamental
principle that we're talking about here
which<00:34:11.040> is<00:34:11.200> taxation<00:34:12.320> because<00:34:12.639> at<00:34:12.800> the<00:34:13.119> end<00:34:13.520> of
on it and unfortunately
there's<00:34:25.520> still<00:34:25.679> going<00:34:25.760> to<00:34:25.839> be<00:34:26.000> a<00:34:26.079> disparity<00:34:27.359> in
that makes any sense
yeah<00:34:33.440> i<00:34:33.520> mean<00:34:33.679> look<00:34:34.000> i<00:34:34.159> come<00:34:34.320> into<00:34:34.560> this<00:34:34.720> as<00:34:34.800> an
yeah i mean look i come into this as an
economist<00:34:35.359> you<00:34:35.440> know<00:34:35.520> what<00:34:35.599> i<00:34:35.679> mean<00:34:35.919> like<00:34:36.079> for
the reason i came into this world is
because<00:34:39.280> my<00:34:39.520> job<00:34:39.760> after<00:34:40.000> the<00:34:40.079> 2008<00:34:40.639> crisis<00:34:41.119> was
because my job after the 2008 crisis was
to<00:34:41.440> say<00:34:41.839> will<00:34:42.079> the<00:34:42.159> economy<00:34:42.560> get<00:34:42.720> better<00:34:43.520> and
to say will the economy get better and
um<00:34:44.240> everybody<00:34:44.560> thought<00:34:44.800> it<00:34:44.879> would<00:34:45.359> and<00:34:45.520> i
um everybody thought it would and i
they<00:34:46.480> kept<00:34:46.720> me<00:34:46.879> wrong<00:34:47.200> and<00:34:47.359> i<00:34:47.440> come<00:34:47.599> to<00:34:47.760> the
something about inequality the economy
won't<00:34:50.480> get<00:34:50.639> better<00:34:51.440> so<00:34:51.679> for<00:34:51.839> me<00:34:52.000> sometimes
people ask me like is there a
contradiction<00:34:54.079> you<00:34:54.159> know<00:34:54.320> you<00:34:54.560> made<00:34:55.359> a<00:34:55.440> lot<00:34:55.520> of
contradiction you know you made a lot of
money<00:34:55.919> personally<00:34:56.399> and<00:34:56.480> now<00:34:56.639> i'm<00:34:56.800> involved<00:34:57.040> in
money personally and now i'm involved in
investing<00:34:57.920> but<00:34:58.079> at<00:34:58.240> the<00:34:58.320> same<00:34:58.560> time<00:34:58.880> you<00:34:59.040> want
investing but at the same time you want
to<00:34:59.280> reduce<00:34:59.599> inequality<00:35:00.079> by<00:35:00.480> raising<00:35:00.720> tax<00:35:00.960> on
to reduce inequality by raising tax on
the<00:35:01.200> rich<00:35:01.920> and<00:35:02.079> i<00:35:02.240> say<00:35:02.480> like<00:35:03.040> no<00:35:03.520> there's<00:35:03.680> no
contradiction at all like you are
allowed<00:35:05.920> to<00:35:06.000> want<00:35:06.160> to<00:35:06.240> have<00:35:06.400> a<00:35:06.480> good<00:35:06.640> life<00:35:06.880> for
allowed to want to have a good life for
yourself<00:35:07.599> and<00:35:07.760> for<00:35:07.920> your<00:35:08.079> family<00:35:08.560> and<00:35:08.640> for
yourself and for your family and for
your<00:35:08.960> kids<00:35:09.520> and<00:35:09.760> also<00:35:10.400> want<00:35:10.560> society<00:35:11.119> to<00:35:11.280> not
your kids and also want society to not
be<00:35:11.680> terrible<00:35:12.240> like<00:35:12.560> you<00:35:12.720> can<00:35:12.880> of<00:35:12.960> course<00:35:13.280> want
be terrible like you can of course want
both<00:35:13.680> of<00:35:13.760> those<00:35:14.000> things<00:35:14.320> and<00:35:14.400> like<00:35:14.800> i'm<00:35:14.960> fully
both of those things and like i'm fully
supportive<00:35:16.000> of<00:35:16.160> people<00:35:16.560> out<00:35:16.720> there<00:35:16.960> who<00:35:17.520> come
supportive of people out there who come
from<00:35:18.240> poor<00:35:18.480> backgrounds<00:35:18.880> like<00:35:19.040> i<00:35:19.200> don't<00:35:19.440> come
from ordinary backgrounds and want to
make<00:35:21.280> their<00:35:21.440> way<00:35:21.680> up<00:35:21.760> you<00:35:21.920> know<00:35:22.000> what<00:35:22.079> i<00:35:22.160> mean
make their way up you know what i mean
but<00:35:23.040> currently<00:35:23.440> we're<00:35:23.599> living<00:35:23.839> in<00:35:24.000> a<00:35:24.079> system
and then you need to buy a property
which<00:35:31.119> you<00:35:31.200> know<00:35:31.280> if<00:35:31.440> you're<00:35:31.520> down<00:35:31.760> here<00:35:31.920> in
which you know if you're down here in
london<00:35:32.480> you're<00:35:32.640> paying<00:35:32.880> like<00:35:33.359> 600<00:35:33.920> grand<00:35:34.160> for
you know just to get yourself on the
level<00:35:39.680> and<00:35:39.760> the<00:35:39.839> thing<00:35:40.000> is<00:35:40.160> that's<00:35:40.400> even<00:35:40.560> crazy
level and the thing is that's even crazy
on<00:35:41.359> on<00:35:41.520> a<00:35:41.680> hundred<00:35:42.160> thousand<00:35:42.560> pounds<00:35:42.880> a<00:35:42.960> year
on on a hundred thousand pounds a year
yeah<00:35:44.240> yeah<00:35:44.400> yeah<00:35:44.800> unrealistic<00:35:46.000> in<00:35:46.079> yeah<00:35:46.400> yeah
even if you do work hard and you you
know<00:35:53.680> are<00:35:53.920> talented<00:35:54.480> and<00:35:54.560> you<00:35:54.720> do<00:35:54.960> get<00:35:55.119> lucky
know are talented and you do get lucky
and<00:35:55.599> you<00:35:55.680> do<00:35:55.839> go<00:35:56.000> to<00:35:56.160> the<00:35:56.240> right<00:35:56.480> school<00:35:56.640> and
and you do go to the right school and
you<00:35:56.800> do<00:35:56.960> get<00:35:57.119> the<00:35:57.200> right<00:35:57.359> degree<00:35:57.599> you<00:35:57.680> do<00:35:57.839> get
the right job you're still running
uphill<00:36:00.160> and<00:36:00.320> then<00:36:00.560> there's<00:36:00.800> other<00:36:01.040> people<00:36:01.280> out
there who come from wealthy families
that<00:36:03.359> are<00:36:03.440> just<00:36:03.599> getting<00:36:03.839> 300<00:36:04.240> grand<00:36:04.400> deposit
that are just getting 300 grand deposit
from<00:36:04.960> their<00:36:05.119> dad<00:36:05.520> and<00:36:05.599> paying<00:36:05.839> nothing<00:36:06.160> on<00:36:06.320> it
like that's it's just not right
yeah<00:36:10.160> there's<00:36:10.320> no<00:36:10.480> way<00:36:10.640> to<00:36:10.800> argue<00:36:11.119> against
this like if people you know
listen<00:36:14.720> i<00:36:14.880> fully<00:36:15.200> believe<00:36:15.599> people<00:36:15.920> should<00:36:16.079> be
listen i fully believe people should be
able<00:36:16.560> to<00:36:16.720> make<00:36:16.960> money<00:36:17.200> and<00:36:17.440> people<00:36:17.599> should
able to make money and people should
even<00:36:18.000> be<00:36:18.079> able<00:36:18.240> to<00:36:18.400> get<00:36:18.560> rich<00:36:18.960> i<00:36:19.200> fully<00:36:19.520> believe
even be able to get rich i fully believe
it<00:36:19.920> i've<00:36:20.079> done<00:36:20.320> it<00:36:20.400> myself<00:36:20.800> you<00:36:20.880> know<00:36:21.040> and<00:36:21.280> i
it i've done it myself you know and i
want<00:36:21.599> people<00:36:21.839> to<00:36:22.000> be<00:36:22.160> able<00:36:22.400> to<00:36:22.560> do<00:36:22.720> that<00:36:23.280> but
want people to be able to do that but
what<00:36:23.680> i'm<00:36:23.760> fighting<00:36:24.079> for<00:36:24.240> when<00:36:24.400> i<00:36:24.480> say<00:36:24.720> tax<00:36:24.960> to
what i'm fighting for when i say tax to
rich<00:36:25.680> it's<00:36:25.839> not<00:36:26.000> about<00:36:26.320> stopping<00:36:26.640> people<00:36:26.880> from
getting rich it's about allowing people
to<00:36:28.640> get<00:36:28.800> rich<00:36:29.280> because<00:36:29.520> think<00:36:29.760> about<00:36:30.000> it<00:36:30.160> if<00:36:30.320> we
rich people can guarantee that their
kids<00:36:36.240> will<00:36:36.320> be<00:36:36.480> rich<00:36:37.040> then<00:36:37.280> that<00:36:37.520> guarantees
kids will be rich then that guarantees
that<00:36:38.240> poor<00:36:38.400> people's<00:36:38.640> kids<00:36:38.880> will<00:36:38.960> be<00:36:39.119> poor
that poor people's kids will be poor
because<00:36:40.079> if<00:36:40.240> all<00:36:40.320> the<00:36:40.480> assets<00:36:40.800> go<00:36:41.040> directly
because if all the assets go directly
from<00:36:41.599> rich<00:36:41.839> dad<00:36:42.079> to<00:36:42.240> rich<00:36:42.480> kid<00:36:42.960> then<00:36:43.119> what's
from rich dad to rich kid then what's
left<00:36:43.599> for<00:36:43.680> the<00:36:43.839> poor<00:36:44.160> poor<00:36:44.400> kids<00:36:44.720> you<00:36:44.800> know
that's the situation is this the
stacking<00:36:48.000> of<00:36:48.079> the<00:36:48.240> odds<00:36:48.640> against<00:36:49.200> the<00:36:49.680> other
important because look
i<00:36:56.079> always<00:36:56.320> say<00:36:56.480> this<00:36:56.720> all<00:36:56.880> the<00:36:56.960> time<00:36:57.119> and<00:36:57.280> i
i always say this all the time and i
think<00:36:57.520> you're<00:36:57.920> a<00:36:58.000> prime<00:36:58.320> example<00:36:58.800> of<00:36:58.960> this
and maybe when you're much much younger
you<00:37:08.880> make<00:37:09.119> you<00:37:09.200> may<00:37:09.359> be<00:37:09.520> oblivious<00:37:10.000> to<00:37:10.160> it<00:37:10.240> you
you make you may be oblivious to it you
may<00:37:10.560> become<00:37:10.880> aware<00:37:11.119> of<00:37:11.280> it<00:37:11.359> as<00:37:11.520> you<00:37:11.680> get<00:37:11.920> older
may become aware of it as you get older
but<00:37:13.119> as<00:37:13.280> you<00:37:13.440> get<00:37:13.599> older<00:37:14.160> you<00:37:14.560> kind<00:37:14.800> of<00:37:15.119> start
but as you get older you kind of start
to<00:37:15.599> open<00:37:15.839> your<00:37:16.079> eyes<00:37:16.240> to<00:37:16.400> your<00:37:16.480> surroundings
to open your eyes to your surroundings
you<00:37:17.440> kind<00:37:17.599> of<00:37:17.760> focus<00:37:18.079> in<00:37:18.240> and<00:37:18.400> start<00:37:18.720> you<00:37:18.800> know
you kind of focus in and start you know
what<00:37:19.200> you<00:37:19.280> want<00:37:19.440> to<00:37:19.599> do<00:37:20.240> and<00:37:20.400> then<00:37:20.560> you<00:37:20.720> have<00:37:20.880> to
what you want to do and then you have to
fight<00:37:21.359> against<00:37:21.599> the<00:37:21.839> odds<00:37:22.079> to<00:37:22.240> get<00:37:22.640> from<00:37:22.800> your
fight against the odds to get from your
first<00:37:23.280> job<00:37:23.520> paying<00:37:23.839> you<00:37:24.000> pittance<00:37:24.480> to<00:37:25.200> you
first job paying you pittance to you
know<00:37:25.599> the<00:37:25.760> levels<00:37:26.160> that<00:37:26.240> you<00:37:26.400> actually<00:37:26.720> get<00:37:26.960> to
segment of the population
that's<00:37:42.880> how<00:37:43.040> you<00:37:43.200> get<00:37:43.440> to<00:37:43.520> the<00:37:43.680> place<00:37:44.000> where
which is six figures a year and you
can't<00:37:50.480> afford<00:37:51.040> a<00:37:51.200> flat<00:37:51.599> a<00:37:51.760> roof<00:37:52.000> over<00:37:52.240> your
and to get to a hundred thousand pounds
a<00:37:58.160> year<00:37:58.480> is<00:37:58.800> not<00:37:59.280> easy<00:38:00.079> yeah<00:38:00.320> that's<00:38:00.880> that's
a year is not easy yeah that's that's
not<00:38:01.359> easy<00:38:01.680> the<00:38:01.760> average<00:38:02.079> wage<00:38:02.400> is<00:38:02.720> something
not easy the average wage is something
about<00:38:03.200> 30<00:38:03.520> grand<00:38:03.760> you<00:38:03.839> know<00:38:03.920> what<00:38:04.000> i<00:38:04.079> mean<00:38:04.320> so
about 30 grand you know what i mean so
100<00:38:05.280> grand<00:38:05.520> is<00:38:05.680> a<00:38:05.760> massive<00:38:06.079> wage<00:38:06.640> exactly<00:38:07.119> and
100 grand is a massive wage exactly and
and<00:38:07.760> when<00:38:08.000> you<00:38:08.079> think<00:38:08.320> about<00:38:08.560> 100<00:38:08.960> grand<00:38:09.280> a
it's it's that number i remember when i
was<00:38:16.480> when<00:38:16.640> i<00:38:16.720> was<00:38:16.880> in<00:38:17.040> my<00:38:17.280> 20s<00:38:17.760> or<00:38:17.839> so<00:38:18.079> i<00:38:18.160> think
was when i was in my 20s or so i think
my<00:38:18.480> first<00:38:18.800> job<00:38:18.960> was<00:38:19.200> something<00:38:19.440> like<00:38:20.000> i<00:38:20.079> was
my first job was something like i was
getting<00:38:20.480> paid<00:38:20.720> like<00:38:20.960> i<00:38:21.040> got<00:38:21.200> like<00:38:21.520> 700<00:38:22.000> quid<00:38:22.240> a
getting paid like i got like 700 quid a
month<00:38:22.640> or<00:38:22.800> something<00:38:23.040> like<00:38:23.200> that<00:38:23.599> and<00:38:23.760> that
was like back in
98<00:38:26.160> so<00:38:26.320> 700<00:38:26.800> quid<00:38:27.200> went<00:38:27.359> a<00:38:27.440> little<00:38:27.599> bit<00:38:27.760> further
98 so 700 quid went a little bit further
than<00:38:28.240> it<00:38:28.320> did<00:38:28.480> today<00:38:28.880> right<00:38:29.440> and<00:38:29.599> i<00:38:29.680> always
than it did today right and i always
said<00:38:30.000> to<00:38:30.160> myself<00:38:30.400> i<00:38:30.800> get<00:38:31.040> to<00:38:31.119> like<00:38:31.280> 50<00:38:31.599> grand<00:38:31.839> a
said to myself i get to like 50 grand a
year<00:38:32.320> yeah<00:38:32.720> happy<00:38:33.040> days<00:38:33.280> you<00:38:33.440> know<00:38:33.440> what<00:38:33.520> i
year yeah happy days you know what i
mean<00:38:33.760> 60<00:38:34.079> grand<00:38:34.240> a<00:38:34.320> year<00:38:34.480> happy<00:38:34.800> days<00:38:35.200> and<00:38:35.359> i
are actually quite comfortable and would
be<00:38:39.359> happy<00:38:39.680> if<00:38:39.839> they<00:38:39.920> reach<00:38:40.240> that<00:38:40.400> level<00:38:40.960> but
be happy if they reach that level but
the<00:38:41.200> way<00:38:41.680> with<00:38:41.839> the<00:38:41.920> way<00:38:42.160> things<00:38:42.400> are<00:38:42.480> going
the way with the way things are going
with<00:38:42.960> property<00:38:43.280> prices<00:38:43.599> and<00:38:43.680> so<00:38:43.839> on<00:38:43.920> and<00:38:44.000> so
with property prices and so on and so
forth<00:38:44.640> yeah<00:38:44.800> yeah<00:38:45.119> if<00:38:45.280> you<00:38:45.440> are<00:38:45.520> in<00:38:45.599> london
grand a year in london and i want people
to<00:38:50.880> make<00:38:51.040> that<00:38:51.200> connection<00:38:52.000> that<00:38:52.560> the<00:38:52.720> reason
house prices are expensive is because
rich<00:38:55.599> people<00:38:55.839> are<00:38:55.839> unbelievably<00:38:56.400> rich<00:38:56.800> i<00:38:56.880> want
rich people are unbelievably rich i want
people<00:38:57.280> to<00:38:57.359> make<00:38:57.599> that<00:38:57.760> connection<00:38:58.560> but<00:38:58.720> then
people to make that connection but then
i<00:38:59.040> also<00:38:59.280> want<00:38:59.440> people<00:38:59.599> to<00:38:59.760> be<00:38:59.920> able<00:39:00.000> to<00:39:00.160> sort<00:39:00.320> of
i also want people to be able to sort of
hold<00:39:01.359> one<00:39:01.599> thing<00:39:01.760> in<00:39:01.839> either<00:39:02.079> hand<00:39:02.320> which<00:39:02.480> is
i know the situation is stacked against
me<00:39:05.839> but<00:39:06.000> what<00:39:06.160> can<00:39:06.320> i<00:39:06.480> do<00:39:06.800> you<00:39:06.880> know<00:39:07.040> what<00:39:07.040> i
me but what can i do you know what i
mean<00:39:07.280> i<00:39:07.359> don't<00:39:07.520> want<00:39:07.680> people<00:39:07.839> to<00:39:08.000> feel
saying the situation is stacked against
ordinary<00:39:12.160> people<00:39:12.480> but<00:39:12.640> there<00:39:12.800> are<00:39:12.880> things<00:39:13.119> you
ordinary people but there are things you
can<00:39:13.440> do<00:39:13.680> you<00:39:13.760> know<00:39:14.240> number<00:39:14.480> one<00:39:14.720> thing<00:39:14.880> is<00:39:14.960> you
can do you know number one thing is you
know<00:39:15.440> don't<00:39:15.599> waste<00:39:15.920> money<00:39:16.160> live<00:39:16.320> within<00:39:16.560> your
know don't waste money live within your
means<00:39:17.040> you<00:39:17.119> know<00:39:17.200> what<00:39:17.280> i<00:39:17.359> mean<00:39:18.000> um
means you know what i mean um
don't<00:39:19.200> spend<00:39:19.359> money<00:39:19.599> on<00:39:19.680> privilege<00:39:20.000> things<00:39:20.240> if
don't spend money on privilege things if
you<00:39:20.400> can<00:39:20.560> avoid<00:39:20.800> it<00:39:20.960> and<00:39:21.040> i<00:39:21.119> know<00:39:21.280> that<00:39:21.440> can<00:39:21.520> be
know sometimes there's not that many
pleasures<00:39:24.400> in<00:39:24.480> life<00:39:24.640> but<00:39:24.880> look<00:39:25.440> save<00:39:25.760> up<00:39:25.839> what
pleasures in life but look save up what
you<00:39:26.160> can<00:39:26.320> stack<00:39:26.640> it<00:39:26.720> up<00:39:26.880> look<00:39:27.040> for<00:39:27.119> sensible
you can stack it up look for sensible
investments<00:39:28.000> and<00:39:28.160> you<00:39:28.240> know<00:39:28.320> i<00:39:28.480> wish<00:39:28.960> there
both secure and guaranteed good returns
but<00:39:32.640> there's<00:39:32.800> no<00:39:32.960> way<00:39:33.119> to<00:39:33.200> guarantee<00:39:33.599> good
but there's no way to guarantee good
returns<00:39:34.000> about<00:39:34.240> taking<00:39:34.480> risk<00:39:34.720> but<00:39:34.880> you<00:39:35.040> know
towards getting a property however you
can<00:39:41.040> you<00:39:41.119> know<00:39:41.200> however<00:39:41.520> works<00:39:41.760> for<00:39:42.000> you
older generations sometimes you own
properties<00:39:45.920> there's<00:39:46.079> things<00:39:46.320> you<00:39:46.400> can<00:39:46.560> do<00:39:46.880> you
properties there's things you can do you
can<00:39:47.119> release<00:39:47.520> equity<00:39:47.920> to<00:39:48.000> help<00:39:48.240> your<00:39:48.960> kids<00:39:49.280> get
deposits because the truth is that's
what<00:39:51.520> the<00:39:51.599> rich<00:39:51.760> families<00:39:52.160> are<00:39:52.240> doing<00:39:52.560> so
what the rich families are doing so
that's<00:39:52.880> what<00:39:52.960> you're<00:39:53.040> going<00:39:53.119> to<00:39:53.200> have<00:39:53.359> to<00:39:53.440> do
that's what you're going to have to do
probably<00:39:53.920> to<00:39:54.000> compete<00:39:54.320> with<00:39:54.480> them<00:39:54.800> and<00:39:54.960> these
probably to compete with them and these
are<00:39:55.280> not<00:39:55.680> good<00:39:55.920> easy<00:39:56.160> discussions<00:39:56.560> to<00:39:56.720> have
but i think that's what ordinary
families<00:39:58.240> need<00:39:58.320> to<00:39:58.400> do<00:39:58.560> that<00:39:58.960> but<00:39:59.119> at<00:39:59.200> the<00:39:59.359> same
families need to do that but at the same
time<00:40:00.400> as<00:40:00.560> you're<00:40:00.720> doing<00:40:00.960> what<00:40:01.119> you<00:40:01.200> can<00:40:01.440> to
be active in that fight and i'm not
saying<00:40:11.359> you<00:40:11.440> need<00:40:11.520> to<00:40:11.599> go<00:40:11.760> out<00:40:11.920> there<00:40:12.160> marching
the streets of placards but just
talk<00:40:15.200> to<00:40:15.280> your<00:40:15.359> friends<00:40:15.680> talk<00:40:15.920> to<00:40:16.079> your<00:40:16.160> family
things are getting harder for people
like<00:40:19.920> us<00:40:20.560> people<00:40:20.800> from<00:40:21.040> our<00:40:21.200> sort<00:40:21.359> of
and making it difficult just let people
know<00:40:28.800> you<00:40:28.960> know<00:40:29.440> i'm<00:40:29.599> making<00:40:29.920> videos<00:40:30.240> you<00:40:30.319> can
know you know i'm making videos you can
come<00:40:30.560> look<00:40:30.720> at<00:40:30.800> my<00:40:30.960> channel<00:40:31.280> gary's<00:40:31.599> economics
talk to your friends talk to your family
talk<00:40:41.040> to<00:40:41.119> your<00:40:41.200> workmates<00:40:41.599> just<00:40:41.760> explain<00:40:42.079> to
talk to your workmates just explain to
them<00:40:42.400> look<00:40:42.880> if<00:40:42.960> we<00:40:43.119> don't<00:40:43.359> do<00:40:43.599> something<00:40:43.920> about
them look if we don't do something about
the<00:40:44.240> wealth<00:40:44.560> of<00:40:44.640> the<00:40:44.720> super<00:40:45.040> rich<00:40:45.520> then<00:40:45.760> it's
the wealth of the super rich then it's
ordinary<00:40:46.560> people<00:40:46.800> like<00:40:47.040> us<00:40:47.680> and<00:40:47.839> our<00:40:48.079> kids
ordinary people like us and our kids
that<00:40:48.560> will<00:40:48.640> be<00:40:48.720> left<00:40:48.960> behind<00:40:49.599> so<00:40:49.760> i<00:40:49.839> want
understand there's no disconnect do what
you<00:40:53.599> can<00:40:53.839> and<00:40:53.920> what<00:40:54.000> you<00:40:54.079> need<00:40:54.240> to<00:40:54.319> do<00:40:54.480> for<00:40:54.640> your
you can and what you need to do for your
family<00:40:55.440> but<00:40:55.599> also<00:40:55.920> understand<00:40:56.319> the<00:40:56.480> only<00:40:56.640> way
family but also understand the only way
to<00:40:57.040> really<00:40:57.280> protect<00:40:58.160> not<00:40:58.400> just<00:40:58.640> your<00:40:58.800> wider
politically as well and that doesn't
mean<00:41:03.440> you<00:41:03.520> have<00:41:03.599> to<00:41:03.760> support<00:41:04.000> political<00:41:04.480> party
mean you have to support political party
it<00:41:05.119> just<00:41:05.200> means<00:41:05.440> you<00:41:05.520> need<00:41:05.680> to<00:41:05.760> be
yourself and educating people around you
and<00:41:09.040> you<00:41:09.200> know<00:41:09.599> that's<00:41:09.839> going<00:41:09.920> to<00:41:10.000> help<00:41:10.240> you<00:41:10.720> in
the economy that we're living and you
know<00:41:16.400> i<00:41:16.480> know<00:41:16.720> it's<00:41:16.800> not<00:41:16.960> positive<00:41:17.359> all<00:41:17.440> the
in difficult times it's important to
try<00:41:21.760> and<00:41:21.920> develop<00:41:22.240> an<00:41:22.319> understanding<00:41:22.960> as<00:41:23.040> well
try and develop an understanding as well
as<00:41:23.359> we<00:41:23.440> can<00:41:23.599> of<00:41:23.680> what's<00:41:23.839> going<00:41:24.079> on<00:41:24.560> i<00:41:24.720> think<00:41:24.880> at
as we can of what's going on i think at
the<00:41:25.119> end<00:41:25.200> of<00:41:25.280> the<00:41:25.359> day<00:41:25.440> it's<00:41:25.599> all<00:41:25.680> about
it's it's having the awareness so that
you<00:41:29.119> know<00:41:29.520> how<00:41:29.760> the<00:41:30.079> field<00:41:30.480> is<00:41:30.560> stacked
you know how the field is stacked
against<00:41:31.280> you<00:41:32.000> and<00:41:32.240> hopefully<00:41:32.800> that<00:41:33.280> leads<00:41:33.599> to
a route around the obstacles you know
it's<00:41:37.839> important<00:41:38.160> as<00:41:38.240> well<00:41:38.400> for<00:41:38.560> mental<00:41:38.880> health
it's important as well for mental health
because<00:41:40.000> i<00:41:40.160> see<00:41:40.480> i<00:41:40.640> see<00:41:40.880> like<00:41:41.440> i<00:41:41.520> went<00:41:41.680> to
backgrounds like getting houses and all
this<00:41:50.160> and<00:41:50.240> that<00:41:50.640> and<00:41:50.800> they<00:41:50.960> think<00:41:51.119> like<00:41:51.280> how
this and that and they think like how
did<00:41:51.599> they<00:41:51.680> do<00:41:51.839> that<00:41:52.000> why<00:41:52.400> why<00:41:52.640> wasn't<00:41:52.960> i<00:41:53.040> able
did they do that why why wasn't i able
to<00:41:53.359> do<00:41:53.520> that<00:41:53.839> and<00:41:54.000> they<00:41:54.079> don't<00:41:54.319> realize<00:41:54.640> that
to do that and they don't realize that
behind<00:41:55.119> the<00:41:55.200> scenes<00:41:55.440> these<00:41:55.599> guys<00:41:55.839> are<00:41:55.920> getting
behind the scenes these guys are getting
big<00:41:56.400> chunks<00:41:56.640> of<00:41:56.720> money<00:41:56.880> from<00:41:57.040> their<00:41:57.119> parents
big chunks of money from their parents
and<00:41:57.599> you<00:41:57.680> know<00:41:58.079> these<00:41:58.319> are<00:41:58.400> people<00:41:58.560> who<00:41:58.720> are
and you know these are people who are
not<00:41:58.960> the<00:41:59.040> super<00:41:59.280> rich<00:41:59.520> by<00:41:59.680> any<00:41:59.839> means<00:42:00.079> you<00:42:00.240> know
not the super rich by any means you know
what<00:42:00.400> i<00:42:00.480> mean<00:42:00.960> but<00:42:02.160> it's<00:42:02.720> it's<00:42:03.040> actually
hidden from view from ordinary people
how<00:42:05.359> unfair<00:42:05.680> the<00:42:05.760> system<00:42:06.079> is<00:42:06.160> behind<00:42:06.480> the
how unfair the system is behind the
scenes<00:42:06.800> and<00:42:06.960> then<00:42:07.040> you<00:42:07.200> can<00:42:07.280> end<00:42:07.440> up<00:42:07.599> in<00:42:07.680> a
you're trying your hardest and you're
making<00:42:11.839> maybe<00:42:12.079> you're<00:42:12.160> making<00:42:12.640> 40<00:42:12.880> 50<00:42:13.200> grand<00:42:13.359> a
making maybe you're making 40 50 grand a
year<00:42:13.680> which<00:42:13.839> is<00:42:13.920> a<00:42:14.000> good<00:42:14.160> salary<00:42:14.480> but<00:42:14.720> in
year which is a good salary but in
london<00:42:15.280> you<00:42:15.440> know<00:42:15.760> it<00:42:15.920> can<00:42:16.079> be<00:42:16.240> difficult<00:42:16.800> to
london you know it can be difficult to
have<00:42:17.119> a<00:42:17.200> family<00:42:17.520> on<00:42:17.599> that<00:42:17.680> and<00:42:17.839> you're
have a family on that and you're
thinking<00:42:18.560> what<00:42:18.720> am<00:42:18.880> i<00:42:18.960> doing<00:42:19.200> wrong<00:42:19.599> and<00:42:20.000> you
thinking what am i doing wrong and you
can<00:42:20.240> get<00:42:20.400> depressed<00:42:20.800> but<00:42:20.960> you<00:42:21.040> don't<00:42:21.200> realize
can get depressed but you don't realize
look<00:42:21.680> if<00:42:21.760> you're<00:42:22.000> out<00:42:22.079> there<00:42:22.240> making<00:42:22.400> 40<00:42:22.640> 50
look if you're out there making 40 50
grand<00:42:23.119> a<00:42:23.200> year<00:42:23.359> or<00:42:23.440> even<00:42:23.599> if<00:42:23.760> you're<00:42:23.839> making
grand a year or even if you're making
fairy<00:42:24.480> even<00:42:24.720> if<00:42:24.800> you're<00:42:24.880> making<00:42:25.200> 25<00:42:25.680> and
fairy even if you're making 25 and
you're<00:42:25.920> making<00:42:26.160> ends<00:42:26.400> meet<00:42:26.960> you<00:42:27.119> are<00:42:27.280> doing
you're making ends meet you are doing
well<00:42:27.839> in<00:42:27.920> a<00:42:28.000> system<00:42:28.240> stacked<00:42:28.560> against<00:42:28.880> you<00:42:29.040> so
well in a system stacked against you so
don't<00:42:29.440> beat<00:42:29.599> yourself<00:42:30.079> up<00:42:30.240> so<00:42:30.400> i<00:42:30.480> think<00:42:30.880> that
understanding i see especially from
young<00:42:33.359> men<00:42:33.599> who<00:42:33.839> judge<00:42:34.079> who<00:42:34.319> are<00:42:34.480> judged<00:42:34.800> and
you should be proud of what you achieve
if<00:42:41.839> you<00:42:42.000> come<00:42:42.160> from<00:42:42.319> a<00:42:42.400> poor<00:42:42.640> background
you so
do<00:42:46.160> your<00:42:46.319> best<00:42:47.040> you<00:42:47.200> know<00:42:47.359> do<00:42:47.520> what<00:42:47.680> you<00:42:47.839> can
do your best you know do what you can
and<00:42:48.720> just<00:42:49.280> you<00:42:49.359> know<00:42:49.680> be<00:42:49.839> proud<00:42:50.079> of<00:42:50.160> what<00:42:50.319> you
achieve and this understanding of the
unfairness<00:42:52.800> of<00:42:52.880> the<00:42:53.040> system<00:42:53.680> i<00:42:53.839> think<00:42:54.000> can
this is where education is really really
important<00:43:04.079> and<00:43:04.240> i<00:43:04.319> hope<00:43:04.480> that<00:43:04.640> you<00:43:04.720> know
important and i hope that you know
anyone<00:43:05.119> who<00:43:05.280> watches<00:43:05.599> this<00:43:05.760> video<00:43:06.079> at<00:43:06.240> least
even from a personal experience for me
like<00:43:10.800> with<00:43:10.960> my<00:43:11.119> background<00:43:12.079> like<00:43:12.400> i've<00:43:12.640> seen
like with my background like i've seen
i've<00:43:13.200> been<00:43:13.520> i've<00:43:13.920> lived<00:43:14.160> up<00:43:14.240> in<00:43:14.319> nigeria<00:43:14.640> for
i've been i've lived up in nigeria for
10<00:43:14.960> years<00:43:15.200> where<00:43:15.520> look<00:43:15.680> we<00:43:15.839> had<00:43:16.079> no<00:43:16.319> food<00:43:16.480> for
10 years where look we had no food for
like<00:43:16.880> three<00:43:17.119> four<00:43:17.359> days<00:43:17.760> like<00:43:17.920> no<00:43:18.160> electric<00:43:18.640> no
i was born here in
you<00:43:28.480> know<00:43:28.800> 79<00:43:29.520> and<00:43:30.079> getting<00:43:30.319> back<00:43:30.560> over<00:43:30.800> here
you know 79 and getting back over here
in<00:43:31.119> 98<00:43:31.680> i<00:43:31.760> thought<00:43:32.000> right<00:43:32.319> okay<00:43:32.640> there<00:43:32.800> was<00:43:33.040> my
here i didn't really realize until much
much<00:43:37.920> later<00:43:38.319> on<00:43:38.880> that<00:43:39.119> actually<00:43:39.440> i<00:43:39.599> start<00:43:40.000> i'm
much later on that actually i start i'm
at<00:43:40.400> the<00:43:40.640> bottom<00:43:41.040> of<00:43:41.119> the<00:43:41.280> pile<00:43:41.920> actually<00:43:42.640> and
at the bottom of the pile actually and
when<00:43:42.960> you<00:43:43.119> start<00:43:43.359> talking<00:43:43.680> about<00:43:43.920> you<00:43:44.079> know
i meet people and it's like they're
driving<00:43:48.240> a<00:43:48.319> nice<00:43:48.640> car<00:43:48.880> it's<00:43:49.040> like<00:43:49.440> what<00:43:49.599> do<00:43:49.760> you
driving a nice car it's like what do you
do<00:43:50.000> oh<00:43:50.240> my<00:43:50.400> dad<00:43:50.640> bought<00:43:50.800> it<00:43:50.960> for<00:43:51.119> me<00:43:51.200> and<00:43:51.359> it's
do oh my dad bought it for me and it's
like<00:43:52.079> then<00:43:52.319> you<00:43:52.480> start<00:43:52.720> and<00:43:52.800> i<00:43:52.880> think
like then you start and i think
everybody<00:43:53.599> go<00:43:53.920> who<00:43:54.160> is<00:43:54.319> from<00:43:54.560> our<00:43:54.720> background
people from different socio-economic
groups<00:44:00.880> that<00:44:01.040> hang<00:44:01.280> in<00:44:01.359> a<00:44:01.440> second<00:44:01.839> you're<00:44:02.000> not
quite where that person is
and<00:44:04.240> you<00:44:04.400> start<00:44:04.720> that's<00:44:04.960> where<00:44:05.200> for<00:44:05.359> me<00:44:05.599> i<00:44:05.920> can
and you start that's where for me i can
get<00:44:06.160> you<00:44:06.319> on<00:44:06.400> that<00:44:06.560> hamster<00:44:06.880> wheel<00:44:07.040> where<00:44:07.200> you
things that that maybe it would be wiser
to<00:44:12.160> save<00:44:12.400> up<00:44:12.560> and<00:44:12.640> buy<00:44:12.800> a<00:44:12.880> house<00:44:13.200> because
to save up and buy a house because
you'll<00:44:13.920> feel<00:44:14.079> insecure<00:44:14.480> and<00:44:14.640> you<00:44:14.720> want<00:44:14.800> to
exactly if you understand look that guy
started<00:44:19.200> the<00:44:19.280> race<00:44:19.599> 50<00:44:19.839> yards<00:44:20.079> ahead<00:44:20.319> of<00:44:20.400> me
started the race 50 yards ahead of me
you<00:44:21.680> then<00:44:21.920> you<00:44:22.400> you<00:44:22.480> can<00:44:22.640> stop<00:44:22.800> beating
you then you you can stop beating
yourself<00:44:23.440> up<00:44:23.520> for<00:44:23.680> being<00:44:23.839> 20<00:44:24.079> yards<00:44:24.319> behind
yourself up for being 20 yards behind
you<00:44:24.800> know<00:44:24.880> what<00:44:24.960> i<00:44:25.040> mean<00:44:25.280> yeah<00:44:25.839> exactly
you know what i mean yeah exactly
because<00:44:26.800> dude<00:44:27.280> the<00:44:27.440> first<00:44:27.680> time<00:44:28.000> i<00:44:28.160> started
because dude the first time i started
making<00:44:28.640> real<00:44:28.880> money<00:44:29.119> in<00:44:29.200> canada<00:44:29.520> wharf<00:44:29.760> what
making real money in canada wharf what
did<00:44:30.079> i<00:44:30.160> do<00:44:30.400> i<00:44:30.640> why<00:44:30.880> we're<00:44:31.040> not<00:44:31.200> buying<00:44:31.599> watches
did i do i why we're not buying watches
and<00:44:32.480> thousand<00:44:32.880> pound<00:44:33.280> suits<00:44:33.680> and<00:44:33.839> all<00:44:34.000> this
nonsense right you're not the first
person<00:44:36.319> to<00:44:36.480> do<00:44:36.640> it<00:44:36.880> because<00:44:37.200> i'm<00:44:37.440> like
person to do it because i'm like
this<00:44:38.640> is<00:44:38.800> what<00:44:39.040> my<00:44:39.200> guys<00:44:39.520> in<00:44:39.599> the<00:44:39.760> office<00:44:40.000> are
this is what my guys in the office are
doing<00:44:40.319> so<00:44:40.480> i've<00:44:40.640> got<00:44:40.880> i've<00:44:40.960> got<00:44:41.119> to<00:44:41.280> fit<00:44:41.520> in
doing so i've got i've got to fit in
somehow<00:44:42.400> i'm<00:44:42.640> part<00:44:42.800> of<00:44:42.880> this<00:44:43.119> crowd<00:44:43.440> now<00:44:43.599> i've
somehow i'm part of this crowd now i've
got<00:44:43.920> to<00:44:44.000> fit<00:44:44.240> into<00:44:44.400> this<00:44:44.560> card<00:44:44.800> even<00:44:44.960> though<00:44:45.119> i
got to fit into this card even though i
didn't<00:44:45.440> feel<00:44:45.680> as<00:44:45.839> though<00:44:46.000> i<00:44:46.079> belonged<00:44:47.119> like<00:44:47.520> i
didn't feel as though i belonged like i
felt<00:44:47.920> like<00:44:48.079> i've<00:44:48.240> got<00:44:48.480> a<00:44:48.880> i've<00:44:49.119> gotta<00:44:49.599> make<00:44:49.920> up
felt like i've got a i've gotta make up
for<00:44:50.160> the<00:44:50.319> inadequacies<00:44:51.119> that<00:44:51.280> i<00:44:51.599> thought<00:44:51.839> were
for the inadequacies that i thought were
telling<00:44:53.920> on<00:44:54.079> me<00:44:54.319> when<00:44:54.480> it's<00:44:54.640> like<00:44:54.880> actually
telling on me when it's like actually
when<00:44:55.359> you<00:44:55.520> step<00:44:55.839> back<00:44:56.160> and<00:44:56.240> maybe<00:44:56.800> you<00:44:56.880> know
experience is a beautiful thing in
hindsight<00:45:01.119> and<00:45:01.599> and<00:45:01.760> looking<00:45:02.079> back<00:45:02.319> i'm<00:45:02.400> like
hindsight and and looking back i'm like
actually<00:45:02.960> it<00:45:03.119> doesn't<00:45:03.359> really<00:45:03.520> matter<00:45:03.920> at<00:45:04.079> all
actually it doesn't really matter at all
yeah<00:45:05.119> yeah<00:45:05.440> in<00:45:05.520> the<00:45:05.680> moment<00:45:06.400> it<00:45:06.640> did<00:45:06.880> matter<00:45:07.280> i
yeah yeah in the moment it did matter i
was<00:45:07.599> like<00:45:07.839> okay<00:45:08.160> i<00:45:08.240> need<00:45:08.400> to<00:45:08.560> find<00:45:08.720> a<00:45:08.800> way<00:45:09.040> to<00:45:09.280> be
was like okay i need to find a way to be
able<00:45:09.680> to<00:45:10.000> fit<00:45:10.319> in<00:45:10.480> here<00:45:11.119> and<00:45:11.280> i<00:45:11.359> think<00:45:11.520> that's
really important certainly when it comes
to<00:45:13.040> this<00:45:13.200> kind<00:45:13.359> of<00:45:13.440> like<00:45:13.599> the<00:45:13.760> mental<00:45:14.079> health
to this kind of like the mental health
side<00:45:14.560> of<00:45:14.640> things<00:45:15.280> and<00:45:15.440> just<00:45:15.599> the<00:45:15.760> general
like you're saying like if if you if
you've<00:45:20.640> got<00:45:20.800> to<00:45:20.960> a<00:45:21.040> job<00:45:21.200> where<00:45:21.359> you're<00:45:21.440> doing
25 grand a year and you were you know 15
grand<00:45:24.079> a<00:45:24.160> year<00:45:24.319> two<00:45:24.560> years<00:45:24.720> ago<00:45:25.359> give<00:45:25.599> yourself
grand a year two years ago give yourself
a<00:45:26.000> pat<00:45:26.240> on<00:45:26.319> the<00:45:26.400> back<00:45:27.040> because<00:45:27.920> you've<00:45:28.160> done
the system is not fair and people start
on<00:45:34.960> very<00:45:35.119> very<00:45:35.359> different<00:45:35.599> levels<00:45:36.000> and<00:45:36.319> some
on very very different levels and some
people<00:45:36.720> are<00:45:36.800> given<00:45:36.960> a<00:45:37.040> massive<00:45:37.359> massive<00:45:37.680> head
start so like
do<00:45:39.599> what<00:45:39.680> you<00:45:39.760> can<00:45:40.000> with<00:45:40.160> what<00:45:40.319> you<00:45:40.560> have<00:45:40.880> you
do what you can with what you have you
know<00:45:41.040> i<00:45:41.200> mean<00:45:41.440> and<00:45:41.599> you<00:45:41.760> know<00:45:41.920> appreciate<00:45:42.319> the
know i mean and you know appreciate the
things<00:45:42.800> that<00:45:42.960> you<00:45:43.040> have<00:45:43.200> around<00:45:43.520> you<00:45:43.680> you<00:45:43.760> know
things that you have around you you know
i<00:45:44.000> mean<00:45:44.160> whether<00:45:44.400> that's<00:45:44.640> a<00:45:44.720> good<00:45:44.880> family<00:45:45.280> or
i mean whether that's a good family or
good<00:45:45.680> friends<00:45:46.000> or<00:45:46.160> you<00:45:46.240> know<00:45:46.319> what<00:45:46.480> i<00:45:46.560> mean<00:45:46.800> or
like good hobbies whatever like
appreciate<00:45:49.280> the<00:45:49.359> things<00:45:49.599> that<00:45:49.680> you<00:45:49.760> have<00:45:50.480> and
an understanding of what's happening to
to<00:45:55.440> try<00:45:55.680> and<00:45:55.760> help<00:45:56.079> make<00:45:56.319> things<00:45:56.560> better<00:45:56.800> and
to try and help make things better and
an<00:45:57.119> understanding<00:45:57.520> of<00:45:57.599> the<00:45:57.680> economy<00:45:58.079> to<00:45:58.160> try
progress is important because you know
we've<00:46:02.880> spoken<00:46:03.200> about<00:46:03.440> this<00:46:03.520> before<00:46:03.760> there's<00:46:04.000> a
we've spoken about this before there's a
lot<00:46:04.160> of<00:46:04.240> guys<00:46:04.480> on<00:46:04.560> the<00:46:04.640> internet<00:46:04.960> now<00:46:05.200> that<00:46:05.359> are
really worried about them
this<00:46:09.200> kind<00:46:09.359> of<00:46:09.520> idea<00:46:09.839> like<00:46:10.000> oh<00:46:10.160> my<00:46:10.240> god
this kind of idea like oh my god
everyone<00:46:10.720> so<00:46:10.880> far<00:46:11.040> ahead<00:46:11.200> i<00:46:11.280> need<00:46:11.440> to<00:46:11.520> catch<00:46:11.760> up
everyone so far ahead i need to catch up
is<00:46:12.160> what<00:46:12.319> can<00:46:12.480> make<00:46:12.640> you<00:46:12.720> vulnerable<00:46:13.119> to<00:46:13.200> them
is what can make you vulnerable to them
sort<00:46:13.520> of<00:46:13.599> thing<00:46:13.760> so<00:46:14.160> yeah<00:46:14.720> be<00:46:14.880> proud<00:46:15.200> of<00:46:15.359> the
understanding for yourself and try and
build<00:46:18.880> towards<00:46:19.200> so<00:46:19.440> pro<00:46:19.680> slow<00:46:19.920> progress<00:46:20.400> not
build towards so pro slow progress not
like<00:46:20.960> i<00:46:21.040> said<00:46:21.200> there's<00:46:21.359> plenty<00:46:21.520> of<00:46:21.599> stuff<00:46:21.760> on
my channel people are interested to
understand<00:46:24.079> more<00:46:24.240> about<00:46:24.400> this<00:46:24.560> you<00:46:24.720> know<00:46:25.200> yeah
understand more about this you know yeah
definitely<00:46:26.000> go<00:46:26.160> check<00:46:26.319> out<00:46:26.800> gary's<00:46:27.119> channel<00:46:27.440> i
definitely go check out gary's channel i
will<00:46:27.680> link<00:46:28.000> it<00:46:28.079> i'll<00:46:28.319> do<00:46:28.640> something<00:46:28.880> in<00:46:29.040> the<00:46:29.280> in
will link it i'll do something in the in
the<00:46:29.520> um<00:46:30.160> the<00:46:30.319> title<00:46:30.720> to<00:46:30.800> this<00:46:30.960> video<00:46:31.119> as<00:46:31.280> well<00:46:31.520> i
the um the title to this video as well i
gotta<00:46:31.839> ask<00:46:32.079> you<00:46:32.160> this<00:46:32.240> is<00:46:32.400> off<00:46:32.560> piece<00:46:32.800> by<00:46:32.960> the
outlandish the first bit moment where
you<00:46:42.640> started<00:46:42.880> to<00:46:43.040> make<00:46:43.200> some<00:46:43.359> really<00:46:43.599> good<00:46:43.760> you
my first job was a paper and then i got
12<00:46:47.839> pounds<00:46:48.079> a<00:46:48.160> week<00:46:48.319> and<00:46:48.400> i<00:46:48.480> spent<00:46:48.720> all<00:46:48.800> one
12 pounds a week and i spent all one
trainers<00:46:49.440> you<00:46:49.599> know<00:46:49.680> what<00:46:49.680> i<00:46:49.760> mean<00:46:50.000> so<00:46:50.160> you're
trainers you know what i mean so you're
spending<00:46:50.560> like<00:46:50.720> two<00:46:50.880> months<00:46:51.119> salary<00:46:51.440> on<00:46:51.520> a
pair of cnn you know i mean
and<00:46:53.520> then<00:46:53.599> i<00:46:53.680> was<00:46:53.760> working<00:46:54.000> in<00:46:54.079> dfs<00:46:54.480> and<00:46:54.560> i<00:46:54.640> was
and then i was working in dfs and i was
making<00:46:54.960> 40<00:46:55.200> pounds<00:46:55.440> a<00:46:55.520> day<00:46:56.079> but<00:46:56.240> as<00:46:56.319> soon<00:46:56.480> as<00:46:56.640> i
making 40 pounds a day but as soon as i
got<00:46:56.800> into<00:46:56.960> you<00:46:57.040> know<00:46:57.359> i<00:46:57.440> want<00:46:57.599> my<00:46:57.680> job<00:46:57.839> in<00:46:57.920> a
got into you know i want my job in a
card<00:46:58.240> game<00:46:58.400> i<00:46:58.480> think<00:46:58.640> we<00:46:58.720> spoke<00:46:58.960> about<00:46:59.119> this<00:46:59.280> on
our podcast right but then like
by<00:47:02.400> the<00:47:02.640> as<00:47:02.720> soon<00:47:02.880> as<00:47:02.960> i<00:47:03.040> got<00:47:03.119> into<00:47:03.359> the<00:47:03.440> city
by the as soon as i got into the city
i<00:47:04.560> was<00:47:04.800> obsessed<00:47:05.280> and<00:47:05.440> i'm<00:47:05.520> going<00:47:05.599> to<00:47:05.680> be<00:47:05.839> the
i was obsessed and i'm going to be the
best<00:47:06.160> at<00:47:06.319> this<00:47:06.960> i'm<00:47:07.119> going<00:47:07.200> to<00:47:07.280> be<00:47:07.440> the<00:47:07.520> best<00:47:07.760> at
best at this i'm going to be the best at
trading<00:47:08.319> i'm<00:47:08.400> going<00:47:08.480> to<00:47:08.560> be<00:47:08.720> the<00:47:08.800> best<00:47:08.960> at<00:47:09.040> this
trading i'm going to be the best at this
and<00:47:09.359> i<00:47:09.440> was<00:47:09.599> so<00:47:10.000> into<00:47:10.240> the<00:47:10.400> markets<00:47:11.040> right
and i was so into the markets right
i<00:47:12.319> didn't<00:47:12.560> even<00:47:12.720> have<00:47:12.880> time<00:47:13.119> to<00:47:13.200> spend<00:47:13.440> money
i didn't even have time to spend money
man<00:47:14.079> i<00:47:14.160> didn't<00:47:14.400> even<00:47:14.560> have<00:47:14.720> time<00:47:14.960> to<00:47:15.119> spend
it was just like you know like
i'm<00:47:19.920> like<00:47:20.079> i<00:47:20.160> wanted<00:47:20.400> to<00:47:20.480> be<00:47:20.559> the<00:47:20.640> best<00:47:20.880> at<00:47:20.960> this
i'm like i wanted to be the best at this
thing<00:47:21.359> i'm<00:47:21.520> sure<00:47:21.680> this<00:47:21.760> is<00:47:21.839> how<00:47:22.000> cristiano
thing i'm sure this is how cristiano
ronaldo<00:47:22.800> feels<00:47:23.040> when<00:47:23.119> he<00:47:23.200> goes<00:47:23.359> that<00:47:23.520> play
ronaldo feels when he goes that play
yeah<00:47:23.920> yeah<00:47:24.400> like<00:47:24.559> because<00:47:24.800> the<00:47:24.960> thing<00:47:25.200> is
yeah yeah like because the thing is
you<00:47:26.319> know<00:47:26.720> i<00:47:26.960> come<00:47:27.200> from<00:47:27.680> east<00:47:27.920> london<00:47:28.640> you
know a pretty rough area
and<00:47:30.880> then<00:47:31.040> i<00:47:31.119> felt<00:47:31.359> like<00:47:31.440> you're<00:47:31.520> going<00:47:31.680> to<00:47:31.760> the
and then i felt like you're going to the
city<00:47:32.079> everyone's<00:47:32.319> going<00:47:32.400> to<00:47:32.480> be<00:47:32.480> a<00:47:32.559> genius<00:47:32.880> but
city everyone's going to be a genius but
i<00:47:33.119> got<00:47:33.280> there<00:47:33.599> and<00:47:33.680> i<00:47:33.760> realized<00:47:34.079> straight<00:47:34.319> away
i got there and i realized straight away
listen<00:47:35.119> i'm<00:47:35.359> as<00:47:35.440> good<00:47:35.599> as<00:47:35.760> these<00:47:36.000> guys<00:47:36.240> right
listen i'm as good as these guys right
and<00:47:36.800> if<00:47:36.880> these<00:47:37.119> guys<00:47:37.280> can<00:47:37.440> make<00:47:37.599> a<00:47:37.680> million
and if these guys can make a million
pound<00:47:38.079> deal<00:47:38.319> then<00:47:38.400> i<00:47:38.559> can<00:47:38.640> make<00:47:38.880> two<00:47:39.040> you<00:47:39.200> know
pound deal then i can make two you know
i'm<00:47:39.440> like<00:47:39.680> yeah<00:47:40.000> and<00:47:40.160> i<00:47:40.240> just<00:47:40.400> felt<00:47:40.640> like<00:47:41.040> that
i'm like yeah and i just felt like that
i<00:47:41.440> can<00:47:41.599> do<00:47:41.760> it<00:47:41.920> you<00:47:42.000> know<00:47:42.079> what<00:47:42.160> i<00:47:42.240> mean<00:47:42.400> like<00:47:42.640> i
just and also just like
i<00:47:44.880> wanted<00:47:45.200> to<00:47:45.359> just<00:47:45.599> show<00:47:45.839> i<00:47:45.920> wanted<00:47:46.160> to
represent nowadays people from where i'm
from<00:47:48.559> that<00:47:48.720> speak<00:47:48.960> like<00:47:49.200> i<00:47:49.280> speak<00:47:49.520> don't
really get there
i<00:47:51.359> just<00:47:51.520> wanted<00:47:51.760> to<00:47:52.000> i<00:47:52.079> wanted<00:47:52.319> to<00:47:52.400> master<00:47:52.720> my
i just wanted to i wanted to master my
craft<00:47:53.280> you<00:47:53.359> know<00:47:53.440> what<00:47:53.520> i<00:47:53.599> mean<00:47:53.760> and<00:47:53.920> i<00:47:54.000> think
there's people out there that are
listening<00:47:55.920> that<00:47:56.000> will<00:47:56.160> be<00:47:56.319> like<00:47:57.040> it<00:47:57.119> could<00:47:57.280> be
listening that will be like it could be
anything<00:47:57.760> could<00:47:57.920> be<00:47:58.000> a<00:47:58.079> plumber<00:47:58.400> could<00:47:58.559> be<00:47:58.640> a
anything could be a plumber could be a
hairdresser<00:47:59.359> if<00:47:59.440> you<00:47:59.520> have<00:47:59.680> that<00:47:59.839> feeling<00:48:00.160> i
hairdresser if you have that feeling i
want<00:48:00.319> to<00:48:00.400> be<00:48:00.559> excellent<00:48:00.960> on<00:48:01.040> my<00:48:01.200> job
want to be excellent on my job
that<00:48:02.240> was<00:48:02.400> what<00:48:02.559> i<00:48:02.640> wanted<00:48:02.880> to<00:48:02.960> do<00:48:03.119> you<00:48:03.200> know
that was what i wanted to do you know
what<00:48:03.359> i<00:48:03.440> mean<00:48:03.680> and<00:48:03.760> then<00:48:03.920> like<00:48:04.319> you<00:48:04.400> know<00:48:04.640> i
what i mean and then like you know i
made<00:48:04.960> my<00:48:05.119> money<00:48:05.359> very<00:48:05.599> very<00:48:05.760> quickly<00:48:06.079> i<00:48:06.160> was
made my money very very quickly i was
like<00:48:06.480> 24<00:48:07.680> and<00:48:07.839> i<00:48:07.920> made<00:48:08.160> my<00:48:08.319> first<00:48:08.720> million
pounds which is insane and like
the<00:48:12.000> money<00:48:12.240> came<00:48:12.480> so<00:48:12.640> quickly<00:48:12.960> i<00:48:13.040> didn't<00:48:13.200> even
the money came so quickly i didn't even
have<00:48:13.520> time<00:48:13.680> to<00:48:13.760> start<00:48:14.000> spending<00:48:14.400> it<00:48:14.480> and<00:48:14.640> it
have time to start spending it and it
was<00:48:14.800> just<00:48:15.040> and<00:48:15.119> it<00:48:15.200> was<00:48:15.359> so<00:48:15.599> much<00:48:16.079> it<00:48:16.240> was<00:48:16.400> so
crazy it was just like
um<00:48:19.839> the<00:48:20.000> thing<00:48:20.240> is<00:48:20.400> like<00:48:20.559> when<00:48:20.720> you<00:48:20.880> make
um the thing is like when you make
you<00:48:22.240> know<00:48:22.480> 50<00:48:22.800> 100<00:48:23.200> grand<00:48:23.440> it<00:48:23.599> feels<00:48:24.000> great<00:48:24.240> but
you know 50 100 grand it feels great but
the<00:48:24.559> kind<00:48:24.720> of<00:48:24.800> money<00:48:25.040> i<00:48:25.119> was<00:48:25.280> making<00:48:25.520> it<00:48:25.680> just
the kind of money i was making it just
felt<00:48:26.000> insane<00:48:26.480> it<00:48:26.559> was<00:48:26.720> almost<00:48:27.040> scary<00:48:27.760> i<00:48:27.920> didn't
felt insane it was almost scary i didn't
even<00:48:28.240> know<00:48:28.400> what<00:48:28.559> you<00:48:28.640> have<00:48:28.720> to<00:48:29.200> have<00:48:29.280> to<00:48:29.440> pinch
even know what you have to have to pinch
yourself<00:48:30.079> like<00:48:30.720> what<00:48:30.880> on<00:48:31.040> earth<00:48:31.280> is<00:48:31.440> going<00:48:31.680> on
yourself like what on earth is going on
i<00:48:31.920> remember<00:48:32.319> like<00:48:32.480> when<00:48:32.640> i<00:48:32.720> made<00:48:32.880> my<00:48:33.040> first
i remember like when i made my first
bonus<00:48:33.760> like<00:48:34.079> oh<00:48:34.400> well<00:48:34.720> when<00:48:34.960> i<00:48:35.040> was<00:48:35.280> a<00:48:35.359> kid<00:48:35.760> my
bonus like oh well when i was a kid my
dad<00:48:36.160> used<00:48:36.319> to<00:48:36.400> start<00:48:36.640> worked<00:48:36.880> at<00:48:37.040> the<00:48:37.359> royal
dad used to start worked at the royal
mail<00:48:37.839> in<00:48:37.920> london<00:48:38.160> i<00:48:38.319> used<00:48:38.480> to<00:48:38.559> get<00:48:38.640> the
mail in london i used to get the
training<00:48:39.119> like<00:48:39.280> 5<00:48:39.520> 30<00:48:39.680> am<00:48:40.079> every<00:48:40.400> morning<00:48:40.960> and
training like 5 30 am every morning and
that<00:48:41.440> train<00:48:41.599> went<00:48:41.839> right<00:48:42.000> past<00:48:42.160> my<00:48:42.319> bedroom
that train went right past my bedroom
window<00:48:42.880> and<00:48:42.960> i<00:48:43.040> would<00:48:43.200> look<00:48:43.440> at<00:48:43.599> my<00:48:43.760> dad<00:48:44.000> and
window and i would look at my dad and
i'll<00:48:44.319> try<00:48:44.400> and<00:48:44.559> wave<00:48:44.800> at<00:48:44.880> him<00:48:45.200> and<00:48:45.280> he<00:48:45.440> did<00:48:45.599> that
day for like 20 grand a year and when i
made<00:48:49.680> all<00:48:49.760> that<00:48:49.920> money<00:48:50.160> in<00:48:50.240> one<00:48:50.480> year<00:48:51.200> it
almost felt disrespectful i don't want
to<00:48:53.440> at<00:48:53.599> all<00:48:53.760> sound<00:48:54.000> like<00:48:54.160> i'm<00:48:54.319> grateful<00:48:54.720> for
to at all sound like i'm grateful for
what<00:48:54.960> i've<00:48:55.200> done<00:48:55.680> but<00:48:55.920> it<00:48:56.000> was<00:48:56.240> i<00:48:56.400> had<00:48:56.559> no<00:48:56.720> idea
what i've done but it was i had no idea
people<00:48:57.200> initially<00:48:57.520> made<00:48:57.680> that<00:48:57.760> kind<00:48:57.920> of<00:48:58.000> money
and it was a bit like um
it<00:49:00.160> was<00:49:00.319> a<00:49:00.400> bit<00:49:00.640> mad<00:49:00.880> and<00:49:00.960> then<00:49:01.119> when<00:49:01.280> that
happened i just thought look
i<00:49:03.040> can<00:49:03.200> make<00:49:03.359> enough<00:49:03.520> money<00:49:03.760> quickly<00:49:04.000> to<00:49:04.160> get
i can make enough money quickly to get
in<00:49:04.400> and<00:49:04.480> get<00:49:04.559> out<00:49:04.640> and<00:49:04.720> try<00:49:04.880> and<00:49:04.960> do<00:49:05.119> something
in and get out and try and do something
i<00:49:05.920> don't<00:49:06.079> know<00:49:06.160> a<00:49:06.240> bit<00:49:06.400> more<00:49:06.559> meaningful<00:49:07.200> um
i don't know a bit more meaningful um
so<00:49:08.400> i<00:49:08.480> never<00:49:08.720> really<00:49:08.880> had<00:49:08.960> a<00:49:09.040> chance<00:49:09.280> to<00:49:09.359> get
so i never really had a chance to get
involved<00:49:09.839> in<00:49:09.920> that<00:49:10.319> spending<00:49:10.880> that<00:49:11.040> kind<00:49:11.200> of
involved in that spending that kind of
money<00:49:11.520> thing<00:49:11.760> i've<00:49:11.839> never<00:49:12.079> been<00:49:12.240> i've<00:49:12.400> never
money thing i've never been i've never
been<00:49:12.800> very<00:49:12.960> stylish<00:49:13.359> guy<00:49:13.599> you<00:49:13.680> can<00:49:13.839> probably
tell so like
yeah<00:49:15.599> i<00:49:15.680> don't<00:49:15.839> know<00:49:16.000> i<00:49:16.079> just<00:49:16.480> you<00:49:16.559> know<00:49:16.720> i<00:49:16.880> use
the money to to
to<00:49:18.640> be<00:49:18.800> able<00:49:18.960> to<00:49:19.040> quit<00:49:19.200> my<00:49:19.359> job<00:49:19.599> and<00:49:19.839> now<00:49:20.000> i<00:49:20.079> use
to be able to quit my job and now i use
that<00:49:20.400> to<00:49:20.559> support<00:49:20.800> myself<00:49:21.040> to<00:49:21.119> do<00:49:21.280> the<00:49:21.359> work
that to support myself to do the work
that<00:49:22.400> i'm<00:49:22.559> doing<00:49:22.880> and<00:49:23.040> i<00:49:23.119> live<00:49:23.359> you<00:49:23.440> know<00:49:24.079> i
that i'm doing and i live you know i
travel<00:49:24.559> and<00:49:24.720> i've<00:49:24.880> i've<00:49:25.040> got<00:49:25.200> a<00:49:25.280> little<00:49:25.680> vest
travel and i've i've got a little vest
bar<00:49:26.160> by<00:49:26.400> you<00:49:26.480> know<00:49:26.640> somebody<00:49:26.880> asked<00:49:26.960> what<00:49:27.119> car
bar by you know somebody asked what car
i've<00:49:27.359> got<00:49:27.520> i<00:49:27.599> don't<00:49:27.760> have<00:49:27.839> a<00:49:28.000> car<00:49:28.240> like<00:49:28.480> it's
i've got i don't have a car like it's
just<00:49:28.880> um<00:49:29.280> you<00:49:29.440> live<00:49:29.599> in<00:49:29.680> london<00:49:29.920> you<00:49:30.079> don't
really need one yeah
yeah<00:49:32.640> yeah<00:49:33.359> did<00:49:33.520> you<00:49:33.599> so<00:49:33.839> when<00:49:34.079> you<00:49:34.160> first
yeah yeah did you so when you first
started<00:49:34.640> there<00:49:34.720> did<00:49:34.880> you<00:49:35.200> ever<00:49:35.760> like<00:49:36.240> first
because i know what you're saying you
think<00:49:40.160> everyone<00:49:40.480> there<00:49:40.640> is<00:49:40.800> smart<00:49:41.119> and<00:49:41.280> you
i realized that very very quickly like
what<00:49:49.599> on<00:49:49.760> earth<00:49:50.000> and<00:49:50.160> it's<00:49:50.319> it<00:49:50.880> for<00:49:51.040> me<00:49:51.200> it
what on earth and it's it for me it
almost<00:49:51.599> took<00:49:51.760> the<00:49:51.920> shine<00:49:52.160> off<00:49:52.400> it<00:49:52.480> because<00:49:52.640> i
almost took the shine off it because i
was<00:49:52.880> like<00:49:53.440> oh<00:49:53.680> my<00:49:53.839> god<00:49:54.079> like<00:49:54.400> here<00:49:55.280> it's<00:49:55.520> like
was like oh my god like here it's like
the<00:49:56.720> it's<00:49:56.960> the<00:49:57.200> pinnacle<00:49:58.160> like<00:49:58.400> the<00:49:58.559> people
the it's the pinnacle like the people
who<00:49:59.119> work<00:49:59.359> here<00:49:59.599> have<00:49:59.680> got<00:49:59.839> to<00:49:59.920> be<00:50:00.240> on<00:50:00.480> it<00:50:00.720> like
razor sharp and then you quickly
finally<00:50:04.480> you<00:50:04.559> know<00:50:04.800> quickly<00:50:05.280> find<00:50:05.599> out<00:50:05.680> well
he's an idiot i could do better than him
i'm<00:50:09.200> just<00:50:09.359> as<00:50:09.520> smart<00:50:09.760> as<00:50:09.920> him<00:50:10.079> actually<00:50:10.400> he's
i'm just as smart as him actually he's
dumb<00:50:11.280> he's<00:50:11.599> stupid<00:50:12.079> as<00:50:12.480> yeah<00:50:12.720> there's<00:50:12.960> a
there's always a few things by surprise
but<00:50:15.119> i<00:50:15.200> was<00:50:15.440> lucky<00:50:15.680> i<00:50:15.760> worked<00:50:16.000> with<00:50:16.079> some
but i was lucky i worked with some
really<00:50:16.400> smart<00:50:16.720> people<00:50:17.040> but<00:50:17.280> i<00:50:17.440> i<00:50:17.680> there<00:50:17.839> were
really smart people but i i there were
some<00:50:18.240> people<00:50:18.400> there<00:50:18.559> that<00:50:18.720> were<00:50:19.040> not<00:50:19.359> super
some people there that were not super
sharp<00:50:19.920> but<00:50:20.160> for<00:50:20.319> me<00:50:20.480> i<00:50:20.559> was<00:50:20.720> like<00:50:21.440> it's<00:50:21.599> an
opportunity man it's an opportunity
did<00:50:24.160> you<00:50:24.319> ever<00:50:24.480> have<00:50:24.720> that<00:50:24.960> in<00:50:25.119> an<00:50:25.280> instance<00:50:25.599> of
did you ever have that in an instance of
imposter<00:50:26.319> syndrome<00:50:26.640> at<00:50:26.800> all<00:50:26.960> like<00:50:27.599> oh<00:50:27.760> my<00:50:27.920> god
imposter syndrome at all like oh my god
you<00:50:28.480> know<00:50:28.720> what<00:50:29.200> i've<00:50:29.520> never<00:50:29.760> really<00:50:30.000> been
you know what i've never really been
like<00:50:30.720> i<00:50:30.800> don't<00:50:30.960> want<00:50:31.119> to<00:50:31.520> pick<00:50:31.680> myself<00:50:32.079> up
like i don't want to pick myself up
there's<00:50:32.319> a<00:50:32.400> guy<00:50:32.559> here<00:50:32.720> for<00:50:32.880> my<00:50:33.359> who<00:50:33.440> knew<00:50:33.599> me
there's a guy here for my who knew me
when<00:50:33.839> i<00:50:33.920> was<00:50:34.000> a<00:50:34.079> kid<00:50:34.400> during<00:50:34.640> a<00:50:34.720> chat<00:50:34.960> by<00:50:35.119> like<00:50:35.520> i
when i was a kid during a chat by like i
was<00:50:35.760> always<00:50:36.000> the<00:50:36.160> smartest<00:50:36.559> kid<00:50:36.720> in<00:50:36.880> school
was always the smartest kid in school
and<00:50:37.280> i<00:50:37.359> would<00:50:37.520> always<00:50:37.760> win<00:50:37.920> like<00:50:38.079> the
competitions and stuff and like
i<00:50:40.720> went<00:50:40.880> to<00:50:40.960> lse<00:50:41.359> which<00:50:41.520> is<00:50:41.599> a<00:50:41.680> very<00:50:41.839> fancy
i went to lse which is a very fancy
union<00:50:42.480> i<00:50:42.559> was<00:50:42.640> a<00:50:42.720> top<00:50:42.880> kid<00:50:43.040> at<00:50:43.200> lse<00:50:43.680> so<00:50:43.920> like<00:50:44.240> you
union i was a top kid at lse so like you
know<00:50:45.040> i<00:50:45.119> don't<00:50:45.280> know<00:50:45.359> why<00:50:45.599> it<00:50:45.599> was<00:50:45.760> just<00:50:45.839> i<00:50:46.000> was
always good at that stuff um
and<00:50:48.720> i<00:50:48.800> just<00:50:49.359> i<00:50:49.520> don't<00:50:49.680> know<00:50:49.760> i<00:50:49.839> want<00:50:50.079> to<00:50:50.160> just
competition you know i never had you
know<00:50:56.960> i<00:50:57.040> never<00:50:57.280> had<00:50:57.359> no<00:50:57.520> advantages<00:50:58.079> you<00:50:58.160> know
know i never had no advantages you know
there<00:50:58.640> was<00:50:58.800> no<00:50:58.960> desk<00:50:59.440> in<00:50:59.520> my<00:50:59.920> home<00:51:00.240> i<00:51:00.319> did<00:51:00.480> my
there was no desk in my home i did my
homework<00:51:01.359> lying<00:51:01.599> on<00:51:01.760> the<00:51:01.839> floor<00:51:02.160> you<00:51:02.240> know
homework lying on the floor you know
what<00:51:02.400> i<00:51:02.480> mean<00:51:02.880> but<00:51:03.040> i<00:51:03.119> was<00:51:03.200> still<00:51:03.359> beating
what i mean but i was still beating
everyone<00:51:03.920> in<00:51:04.000> the<00:51:04.079> exam<00:51:04.400> so<00:51:04.559> i<00:51:04.720> kind<00:51:04.960> of<00:51:05.040> knew
i don't know it's just
it's<00:51:07.280> a<00:51:07.359> gift<00:51:07.839> you<00:51:08.000> know<00:51:08.160> i'm<00:51:08.319> lucky<00:51:08.640> in<00:51:08.800> that
yeah i don't know i've always been
confident<00:51:13.200> i've<00:51:13.359> always<00:51:13.760> when<00:51:13.920> it<00:51:14.000> come<00:51:14.240> you
know i'm terrible at cricket but
you<00:51:16.559> know<00:51:16.640> when<00:51:16.880> it<00:51:16.960> comes<00:51:17.200> to<00:51:17.680> this<00:51:17.920> kind<00:51:18.079> of
you know when it comes to this kind of
stuff<00:51:18.480> numbers<00:51:19.119> i<00:51:19.200> can<00:51:19.359> do<00:51:19.520> it<00:51:19.599> i've<00:51:19.760> always
why not me i always thought yeah
absolutely<00:51:25.359> i<00:51:25.440> used<00:51:25.520> to<00:51:25.599> say<00:51:25.760> that<00:51:25.920> to<00:51:26.079> my<00:51:26.240> team
absolutely i used to say that to my team
in<00:51:26.559> um<00:51:26.800> in<00:51:26.880> canada<00:51:27.280> wharf<00:51:28.000> you<00:51:28.079> know<00:51:28.400> and<00:51:28.559> say
in um in canada wharf you know and say
to<00:51:28.880> guys<00:51:29.119> that<00:51:29.280> you<00:51:29.359> know<00:51:29.839> if<00:51:30.160> if<00:51:30.559> if<00:51:30.720> you<00:51:30.880> don't
to guys that you know if if if you don't
do<00:51:31.200> well<00:51:31.440> somebody<00:51:31.760> else<00:51:32.000> will<00:51:32.240> so<00:51:32.400> why<00:51:32.640> not
do well somebody else will so why not
you<00:51:33.520> like<00:51:33.839> why<00:51:34.079> shouldn't<00:51:34.400> it<00:51:34.480> be<00:51:34.640> you<00:51:35.119> and
i think for for many people
certainly<00:51:40.240> for<00:51:40.400> my<00:51:40.559> background<00:51:41.040> i<00:51:41.200> think<00:51:41.359> i<00:51:41.680> i
i felt this whole thing of
why<00:51:46.240> should<00:51:46.720> i<00:51:46.960> be<00:51:47.200> the<00:51:47.359> one<00:51:47.680> in<00:51:47.839> my<00:51:48.160> family
who's earning six figures like why
should<00:51:50.559> it<00:51:50.720> be<00:51:50.880> me<00:51:51.200> like<00:51:51.440> and<00:51:51.520> like<00:51:51.760> you<00:51:51.920> said
this is nuts like
if<00:51:56.480> you<00:51:56.720> think<00:51:56.960> about<00:51:57.280> it<00:51:57.359> from<00:51:57.680> where<00:51:58.000> you
if you think about it from where you
came<00:51:58.480> from<00:51:58.800> to<00:51:59.040> where<00:51:59.280> you<00:51:59.520> are<00:51:59.680> at<00:51:59.839> that
almost felt like
i'm<00:52:10.480> worthy<00:52:10.880> if<00:52:11.040> that<00:52:11.119> makes<00:52:11.359> any<00:52:11.599> sense<00:52:11.760> i
i'm worthy if that makes any sense i
think<00:52:12.079> i<00:52:12.160> think<00:52:12.319> a<00:52:12.400> lot<00:52:12.559> of<00:52:12.640> people<00:52:13.040> from<00:52:13.599> the
kind of backgrounds that are less
represented<00:52:15.280> in<00:52:15.440> these<00:52:15.599> jobs<00:52:15.839> feel<00:52:16.079> that<00:52:16.240> way
represented in these jobs feel that way
um<00:52:17.200> and<00:52:17.359> it<00:52:17.599> can<00:52:17.760> you<00:52:17.920> can<00:52:18.160> it<00:52:18.319> can<00:52:18.480> be<00:52:18.640> when<00:52:18.800> you
um and it can you can it can be when you
see<00:52:19.200> sort<00:52:19.359> of<00:52:20.000> there's<00:52:20.240> differences<00:52:20.720> in<00:52:20.800> the
see sort of there's differences in the
way<00:52:21.040> people<00:52:21.359> dress<00:52:21.680> and<00:52:21.760> the<00:52:21.760> way<00:52:21.920> people<00:52:22.240> talk
way people dress and the way people talk
and<00:52:22.720> it<00:52:22.800> can<00:52:22.960> be<00:52:23.440> intimidating<00:52:24.559> but<00:52:24.720> um
and it can be intimidating but um
i<00:52:26.000> just<00:52:26.160> want<00:52:26.319> to<00:52:26.400> say<00:52:26.559> to<00:52:26.800> like<00:52:27.200> anybody<00:52:27.599> who
people that look like themselves in
these<00:52:31.680> jobs<00:52:32.079> like<00:52:32.800> they're<00:52:32.960> not<00:52:33.119> smart<00:52:33.359> as
don't allow yourself to be intimidated
by<00:52:46.000> the<00:52:46.079> fact<00:52:46.240> that<00:52:46.480> they've<00:52:46.640> got<00:52:46.880> like<00:52:47.440> they
by the fact that they've got like they
look<00:52:48.000> different<00:52:48.240> you<00:52:48.400> know<00:52:48.480> i<00:52:48.559> mean<00:52:48.720> the<00:52:48.880> fact
look different you know i mean the fact
is<00:52:49.359> i<00:52:49.440> think<00:52:49.920> if<00:52:50.079> you<00:52:50.160> come<00:52:50.480> from
make it there you've probably got
something<00:52:55.359> you<00:52:55.440> know<00:52:55.599> i<00:52:55.680> mean<00:52:55.839> so<00:52:56.000> that
doesn't mean don't be overconfident you
need<00:52:57.760> to<00:52:57.839> do<00:52:58.000> your<00:52:58.079> work<00:52:58.800> but<00:52:59.040> um<00:52:59.760> yeah<00:52:59.920> you're
need to do your work but um yeah you're
in<00:53:00.079> the<00:53:00.240> room<00:53:00.400> by<00:53:00.559> merit<00:53:01.119> definitely<00:53:01.520> exactly
especially nowadays increasingly you
know<00:53:04.800> i<00:53:04.880> mean<00:53:05.119> like<00:53:05.760> down<00:53:06.000> in<00:53:06.079> the<00:53:06.240> city
know i mean like down in the city
there's<00:53:06.640> not<00:53:06.720> a<00:53:06.800> lot<00:53:06.960> of<00:53:07.040> people<00:53:07.280> from<00:53:07.440> the
there's not a lot of people from the
kind<00:53:07.680> of<00:53:07.760> background<00:53:08.160> that<00:53:08.319> i'm<00:53:08.480> from<00:53:08.640> that
kind of background that i'm from that
you're<00:53:09.040> from<00:53:09.280> in<00:53:09.359> those<00:53:09.599> places<00:53:09.839> so<00:53:10.079> if<00:53:10.160> you
you're from in those places so if you
get<00:53:10.480> there<00:53:11.119> you<00:53:11.359> believe<00:53:11.599> in<00:53:11.680> yourself<00:53:12.000> and
you're representing you know i mean so
so<00:53:16.000> do<00:53:16.160> your<00:53:16.240> best<00:53:16.559> and<00:53:16.640> don't<00:53:16.800> let<00:53:16.960> yourself
so do your best and don't let yourself
be<00:53:17.440> like<00:53:17.599> pushed<00:53:17.839> down<00:53:18.480> yeah<00:53:18.960> and<00:53:19.119> i<00:53:19.440> would<00:53:19.599> say
be like pushed down yeah and i would say
to<00:53:20.240> anyone<00:53:20.720> if<00:53:21.040> you<00:53:21.359> ever<00:53:21.680> encounter<00:53:22.160> someone
who you think
is<00:53:24.000> better<00:53:24.240> than<00:53:24.400> you<00:53:24.960> the<00:53:25.280> best<00:53:25.680> way<00:53:25.839> to<00:53:26.079> get
is better than you the best way to get
their<00:53:26.480> guard<00:53:26.720> down<00:53:26.960> is<00:53:27.200> go<00:53:27.359> out<00:53:27.440> for<00:53:27.599> a<00:53:27.680> drink
and yeah very very quickly you'll find
out<00:53:31.680> the<00:53:31.839> real<00:53:32.079> person<00:53:32.480> behind<00:53:32.800> the<00:53:32.880> facade
out the real person behind the facade
that<00:53:33.520> you<00:53:33.760> saw<00:53:34.000> the<00:53:34.079> first<00:53:34.319> time<00:53:34.559> you<00:53:34.720> met<00:53:34.880> them
that you saw the first time you met them
because<00:53:35.520> it's<00:53:35.760> very<00:53:36.079> very<00:53:36.240> rare<00:53:36.480> that<00:53:36.640> you
instantaneously very very very rare i
like<00:53:43.359> one<00:53:43.839> i'll<00:53:44.079> say<00:53:44.640> if<00:53:44.960> people<00:53:45.280> start<00:53:45.599> in
like one i'll say if people start in
like<00:53:45.920> a<00:53:46.000> get<00:53:46.240> like<00:53:46.400> a<00:53:46.480> fancy<00:53:46.800> job<00:53:46.960> and<00:53:47.119> it<00:53:47.200> could
like a get like a fancy job and it could
be<00:53:47.520> in<00:53:48.079> finance<00:53:48.480> or<00:53:48.640> could<00:53:48.800> be<00:53:48.880> in<00:53:49.040> law<00:53:49.520> at<00:53:49.680> the
talking about so like if you think go in
and<00:53:53.599> i've<00:53:53.680> got<00:53:53.760> no<00:53:53.920> idea<00:53:54.160> what's<00:53:54.319> going<00:53:54.559> on
what's going on until
they've<00:53:58.400> been<00:53:58.559> there<00:53:58.720> for<00:53:58.880> a<00:53:58.960> bit<00:53:59.359> so<00:53:59.520> just<00:53:59.680> be
they've been there for a bit so just be
open<00:54:00.160> man<00:54:00.400> just<00:54:00.480> be<00:54:00.640> like<00:54:00.800> look<00:54:01.040> i've<00:54:01.119> not<00:54:01.280> done
open man just be like look i've not done
this<00:54:01.599> before<00:54:02.079> i<00:54:02.160> don't<00:54:02.319> know<00:54:02.480> what's<00:54:02.640> going<00:54:02.880> on
this before i don't know what's going on
i'm<00:54:03.280> smart<00:54:03.599> and<00:54:03.680> i<00:54:03.760> want<00:54:03.920> to<00:54:04.000> learn<00:54:04.480> and<00:54:04.640> if<00:54:04.800> you
i'm smart and i want to learn and if you
don't<00:54:05.040> understand<00:54:05.440> ask<00:54:05.599> about<00:54:05.839> it<00:54:05.920> like<00:54:06.160> use
don't understand ask about it like use
that<00:54:06.640> first<00:54:06.880> sort<00:54:07.040> of<00:54:07.599> six<00:54:07.920> months<00:54:08.400> to<00:54:08.559> be<00:54:08.640> like
that first sort of six months to be like
look<00:54:09.040> i<00:54:09.119> don't<00:54:09.280> know<00:54:09.440> anything<00:54:09.839> because<00:54:10.079> i'm
new but i want to learn and if you do
that<00:54:12.720> you'll<00:54:12.960> be<00:54:13.040> one<00:54:13.200> of<00:54:13.280> the<00:54:13.359> best<00:54:13.599> because
that you'll be one of the best because
most<00:54:14.079> people<00:54:14.400> are<00:54:14.480> there<00:54:14.720> sort<00:54:14.880> of<00:54:15.119> trying<00:54:15.359> to
most people are there sort of trying to
make<00:54:16.000> it<00:54:16.160> sound<00:54:16.400> like<00:54:16.559> they<00:54:16.720> do<00:54:16.960> know<00:54:17.359> like
don't it just go in and say
look<00:54:19.839> i'm<00:54:20.079> young<00:54:20.640> but<00:54:20.800> i'm<00:54:20.960> smart<00:54:21.520> i<00:54:21.599> don't
look i'm young but i'm smart i don't
know<00:54:21.920> anything<00:54:22.240> because<00:54:22.400> i've<00:54:22.480> not<00:54:22.640> done<00:54:22.800> this
know anything because i've not done this
job<00:54:23.119> before<00:54:23.520> like<00:54:23.680> i<00:54:23.839> went<00:54:23.920> to<00:54:24.079> llc<00:54:24.400> and
job before like i went to llc and
everyone's<00:54:24.800> giving<00:54:25.040> it<00:54:25.200> the<00:54:25.359> big<00:54:25.599> about<00:54:25.839> all
everyone's giving it the big about all
of<00:54:26.079> the<00:54:26.720> cdos<00:54:27.359> and<00:54:27.520> mbs's<00:54:28.240> and<00:54:28.480> i<00:54:28.640> would<00:54:28.800> be<00:54:28.880> in
of the cdos and mbs's and i would be in
there<00:54:29.119> and<00:54:29.200> i<00:54:29.280> just<00:54:29.440> i<00:54:29.520> don't<00:54:29.680> know<00:54:29.760> what<00:54:29.839> this
there and i just i don't know what this
acronym<00:54:30.960> means<00:54:31.359> what<00:54:31.520> does<00:54:31.680> it<00:54:31.760> mean<00:54:32.079> i<00:54:32.160> don't
acronym means what does it mean i don't
know<00:54:32.480> what<00:54:32.640> this<00:54:32.880> thing<00:54:33.040> means<00:54:33.280> what<00:54:33.440> does<00:54:33.599> it
know what this thing means what does it
mean<00:54:34.000> just<00:54:34.160> keep<00:54:34.480> asking<00:54:34.880> that's<00:54:35.119> how<00:54:35.280> you
in a lot of these fancy industries
there's<00:54:39.359> a<00:54:39.440> lot<00:54:39.520> of<00:54:40.160> but<00:54:40.240> i<00:54:40.319> just<00:54:40.559> cut
there's a lot of but i just cut
through<00:54:40.960> it<00:54:41.040> and<00:54:41.119> be<00:54:41.280> like<00:54:41.440> look<00:54:41.760> i<00:54:41.920> don't<00:54:42.079> know
through it and be like look i don't know
yet<00:54:42.960> but<00:54:43.119> i<00:54:43.280> believe<00:54:43.520> in<00:54:43.599> myself<00:54:44.240> so<00:54:44.799> i'm<00:54:45.119> here
yet but i believe in myself so i'm here
to<00:54:45.440> teach<00:54:45.760> i'm<00:54:45.920> here<00:54:46.079> to<00:54:46.240> be<00:54:46.400> taught<00:54:46.960> and<00:54:47.200> you
to teach i'm here to be taught and you
know<00:54:47.520> i<00:54:47.599> was<00:54:47.760> getting<00:54:48.000> i<00:54:48.079> got<00:54:48.240> a<00:54:48.319> lot<00:54:48.400> of
know i was getting i got a lot of
coffees<00:54:48.799> and<00:54:48.880> i<00:54:48.960> got<00:54:49.040> a<00:54:49.119> lot<00:54:49.200> of<00:54:49.280> lunches
coffees and i got a lot of lunches
because<00:54:50.480> i<00:54:50.640> wanted<00:54:50.880> people<00:54:51.040> to<00:54:51.200> teach<00:54:51.359> me<00:54:51.520> and
because i wanted people to teach me and
that's<00:54:51.760> how<00:54:51.839> i<00:54:51.920> became<00:54:52.240> good<00:54:52.400> that<00:54:52.480> what<00:54:52.640> i<00:54:52.720> did
that's how i became good that what i did
so<00:54:53.200> um<00:54:53.520> yeah<00:54:53.920> don't<00:54:54.160> be<00:54:54.240> scared<00:54:54.559> if<00:54:54.640> when<00:54:54.799> you
so um yeah don't be scared if when you
first<00:54:55.119> turn<00:54:55.359> up<00:54:56.000> you<00:54:56.160> don't<00:54:56.240> know<00:54:56.400> what<00:54:56.480> the
hell's going on because that's normal
preach<00:54:58.880> preach<00:54:59.359> right<00:54:59.599> i<00:54:59.760> just<00:54:59.839> want<00:55:00.000> to<00:55:00.079> have
preach preach right i just want to have
a<00:55:00.319> look<00:55:00.480> at<00:55:00.559> maybe<00:55:00.799> some<00:55:01.440> questions<00:55:01.920> on<00:55:02.079> here
um i'd be keen to understand the
argument<00:55:09.599> for<00:55:09.920> tax<00:55:10.160> in<00:55:10.240> the<00:55:10.319> wealthy<00:55:10.720> versus
statement all right so
my<00:55:15.920> background<00:55:16.319> is<00:55:16.880> as<00:55:16.960> an<00:55:17.119> economist<00:55:17.599> and<00:55:17.760> as
my background is as an economist and as
a<00:55:17.920> trader<00:55:18.319> right<00:55:18.799> so<00:55:19.200> there's<00:55:19.520> been<00:55:19.680> this<00:55:19.839> big
a trader right so there's been this big
question<00:55:20.319> of<00:55:20.480> since<00:55:20.720> 2008<00:55:21.920> why<00:55:22.160> have<00:55:22.319> we<00:55:22.559> not
economists now that's because we don't
have<00:55:30.000> enough<00:55:30.480> spending<00:55:31.440> so<00:55:31.599> if<00:55:31.760> you<00:55:31.839> don't
have enough spending efficiency is great
always<00:55:34.720> of<00:55:34.799> course<00:55:35.040> efficiency<00:55:35.440> is<00:55:35.520> great<00:55:35.839> but
always of course efficiency is great but
if<00:55:36.160> you<00:55:36.240> don't<00:55:36.400> have<00:55:36.559> enough<00:55:36.799> spending<00:55:37.599> then
if you don't have enough spending then
if<00:55:37.920> you<00:55:38.079> improve<00:55:38.319> your<00:55:38.480> efficiency<00:55:38.880> and<00:55:38.960> you
just produce more
then<00:55:41.280> it<00:55:41.359> just<00:55:41.520> means<00:55:41.760> you<00:55:41.839> can<00:55:42.079> employ<00:55:42.319> a
then it just means you can employ a
fewer<00:55:42.720> people<00:55:43.040> because<00:55:43.280> you<00:55:43.359> don't<00:55:43.599> have<00:55:43.839> the
fewer people because you don't have the
end<00:55:44.319> customers<00:55:45.200> so<00:55:45.359> we've<00:55:45.599> had<00:55:45.760> this<00:55:46.000> like
end customers so we've had this like
of<00:55:46.880> course<00:55:47.119> efficiency<00:55:47.520> is<00:55:47.599> good<00:55:47.760> you<00:55:47.839> know
efficient but ultimately if you don't
have<00:55:53.839> the<00:55:54.000> customers<00:55:54.480> at<00:55:54.559> the<00:55:54.720> end<00:55:55.200> then<00:55:55.440> wages
have the customers at the end then wages
will<00:55:55.920> be<00:55:56.000> low<00:55:56.640> and<00:55:56.799> there's<00:55:56.960> not<00:55:57.119> going<00:55:57.200> to<00:55:57.280> be
will be low and there's not going to be
a lot<00:55:57.440> of<00:55:57.520> high<00:55:57.680> paid<00:55:57.839> jobs<00:55:58.079> so<00:55:58.240> you<00:55:58.480> need
a lot of high paid jobs so you need
we've<00:55:59.359> had<00:55:59.599> this<00:55:59.760> problem<00:56:00.079> now<00:56:00.640> for<00:56:00.880> 12<00:56:01.200> 13
we've had this problem now for 12 13
years<00:56:02.000> i<00:56:02.079> probably<00:56:02.319> should<00:56:02.480> do<00:56:02.559> a<00:56:02.640> video<00:56:02.960> about
customers anybody run a business will
know<00:56:14.880> this<00:56:15.040> you<00:56:15.200> know<00:56:15.280> what<00:56:15.359> i<00:56:15.359> mean<00:56:15.760> you<00:56:15.920> can
know this you know what i mean you can
do<00:56:16.319> like<00:56:16.640> you<00:56:16.799> can<00:56:16.960> make<00:56:17.119> the<00:56:17.680> everything
your business is going to fail and our
economy<00:56:21.599> as<00:56:21.760> a<00:56:21.839> whole<00:56:22.319> for<00:56:22.480> the<00:56:22.640> last<00:56:23.119> since
economy as a whole for the last since
2008<00:56:23.839> at<00:56:23.920> least<00:56:24.079> has<00:56:24.240> been<00:56:24.400> struggling<00:56:24.640> for<00:56:24.720> a
2008 at least has been struggling for a
lack<00:56:25.040> of<00:56:25.119> customers<00:56:26.079> so<00:56:26.640> i'm<00:56:26.880> saying<00:56:27.119> we<00:56:27.200> need
lack of customers so i'm saying we need
to<00:56:27.680> push<00:56:27.920> more<00:56:28.079> spending<00:56:28.480> into<00:56:28.640> the<00:56:28.720> economy
to push more spending into the economy
but<00:56:29.599> i<00:56:29.680> don't<00:56:29.839> want<00:56:30.000> it<00:56:30.079> to<00:56:30.240> come<00:56:30.480> through
spending from poor and ordinary people
who<00:56:37.040> are<00:56:37.119> struggling<00:56:37.440> to<00:56:37.520> buy<00:56:37.680> houses<00:56:38.319> that
who are struggling to buy houses that
spending<00:56:38.799> needs<00:56:38.960> to<00:56:39.200> there's<00:56:39.359> only<00:56:39.520> one<00:56:39.760> place
spending needs to there's only one place
that<00:56:40.079> is<00:56:40.240> healthy<00:56:40.960> from<00:56:41.119> which<00:56:41.359> that<00:56:41.599> spending
that is healthy from which that spending
can<00:56:42.160> come<00:56:42.559> and<00:56:42.720> it's<00:56:42.799> from<00:56:42.960> the<00:56:43.040> very<00:56:43.200> rich
because they're stacking up more and
more<00:56:45.119> we<00:56:45.280> need<00:56:45.520> more<00:56:45.680> spending<00:56:46.319> from<00:56:46.480> those
more we need more spending from those
people<00:56:47.200> so<00:56:47.359> of<00:56:47.440> course<00:56:47.680> there's<00:56:47.760> a<00:56:47.839> space<00:56:48.079> for
economic problem here i've not enough
spending<00:56:51.839> and<00:56:52.000> we're<00:56:52.160> not<00:56:52.319> going<00:56:52.400> to<00:56:52.480> fix<00:56:52.720> that
spending and we're not going to fix that
in<00:56:52.960> a<00:56:53.040> healthy<00:56:53.440> way<00:56:53.760> unless<00:56:54.160> we<00:56:54.240> get<00:56:54.480> more
fantastic cheers for that i'm just
having<00:56:59.520> to<00:56:59.599> look<00:56:59.760> there's<00:57:00.000> a<00:57:00.079> couple<00:57:00.240> of
mortgage questions on here because
obviously<00:57:02.240> the<00:57:02.400> banks<00:57:02.720> have<00:57:02.799> done<00:57:03.040> what<00:57:03.200> they
what they do
and<00:57:05.040> prior<00:57:05.440> to<00:57:05.680> the<00:57:05.920> mpc<00:57:06.559> meeting<00:57:07.040> on<00:57:07.280> thursday
and prior to the mpc meeting on thursday
the<00:57:08.319> mortgage<00:57:08.640> rates<00:57:08.880> have<00:57:08.960> gone<00:57:09.280> off<00:57:09.440> the
the autumn budget so there are a couple
of<00:57:13.040> mortgage<00:57:13.520> questions<00:57:13.920> in<00:57:14.000> here<00:57:14.160> i'm<00:57:14.319> just
of mortgage questions in here i'm just
going<00:57:14.480> to<00:57:14.559> get<00:57:14.720> to<00:57:14.799> those<00:57:15.040> really<00:57:15.280> quickly
should they pay the penalty or two grand
penalty<00:57:22.880> i<00:57:22.960> would<00:57:23.200> say<00:57:23.359> for<00:57:23.520> that<00:57:23.680> one<00:57:23.920> mate
um do the calculation probably
yeah<00:57:27.839> two<00:57:28.079> grand<00:57:28.319> is<00:57:28.400> a<00:57:28.640> lot<00:57:28.799> so<00:57:29.040> do<00:57:29.200> the
yeah two grand is a lot so do the
calculation<00:57:30.240> if<00:57:30.400> you<00:57:30.559> went<00:57:30.960> out<00:57:31.200> of<00:57:31.280> that<00:57:31.520> now
calculation if you went out of that now
into<00:57:32.079> a<00:57:32.160> fixed<00:57:32.400> rate<00:57:32.640> mortgage<00:57:33.520> over<00:57:33.760> a<00:57:33.839> five
into a fixed rate mortgage over a five
year<00:57:34.319> period<00:57:34.799> is<00:57:34.960> it<00:57:35.040> going<00:57:35.280> to<00:57:35.440> save<00:57:35.680> you<00:57:35.839> two
probably not i mean i would i would
question<00:57:39.920> what<00:57:40.160> rate<00:57:40.400> you're<00:57:40.559> on<00:57:40.720> right<00:57:40.960> now
question what rate you're on right now
um<00:57:42.079> if<00:57:42.240> you're<00:57:42.400> on<00:57:42.480> a<00:57:42.559> flex<00:57:42.960> a<00:57:43.280> tracker<00:57:43.680> or<00:57:43.760> a
um if you're on a flex a tracker or a
standard<00:57:44.240> variable<00:57:44.880> you<00:57:45.119> need<00:57:45.280> to<00:57:45.359> do<00:57:45.520> the
standard variable you need to do the
math<00:57:45.920> but<00:57:46.319> two<00:57:46.480> grand<00:57:46.799> is<00:57:46.960> a<00:57:47.200> lot<00:57:47.440> as<00:57:47.599> a<00:57:47.680> penalty
math but two grand is a lot as a penalty
unless<00:57:48.880> you're<00:57:49.119> on<00:57:49.200> a<00:57:49.359> very<00:57:49.680> very<00:57:49.839> high<00:57:50.079> rate
unless you're on a very very high rate
right<00:57:50.400> now<00:57:50.559> which<00:57:50.799> are<00:57:50.880> probably<00:57:51.280> not<00:57:51.520> because
but do your numbers yeah um
i'll<00:58:02.400> say<00:58:02.559> about<00:58:02.799> you<00:58:02.880> know<00:58:03.280> rates<00:58:03.520> are<00:58:03.599> rising
i'll say about you know rates are rising
i<00:58:04.079> was<00:58:04.160> an<00:58:04.240> interest<00:58:04.559> rate<00:58:04.799> trader<00:58:05.440> so<00:58:05.599> um
i was an interest rate trader so um
you<00:58:06.960> know<00:58:07.200> the<00:58:07.359> whole<00:58:07.599> of<00:58:07.680> my<00:58:07.839> career<00:58:08.240> people
you know the whole of my career people
would<00:58:08.720> say<00:58:08.880> to<00:58:09.040> me<00:58:09.520> should<00:58:09.680> i<00:58:09.760> get<00:58:10.000> fixed<00:58:10.319> or
would say to me should i get fixed or
floating<00:58:10.960> and<00:58:11.119> i<00:58:11.200> would<00:58:11.359> say<00:58:11.599> look<00:58:12.079> get
go up and they would say oh but i saw in
the<00:58:15.119> financial<00:58:15.520> times<00:58:15.760> rate<00:58:15.920> is<00:58:16.000> going<00:58:16.079> to<00:58:16.160> go
the financial times rate is going to go
up<00:58:16.559> in<00:58:16.720> six<00:58:16.960> months<00:58:17.280> and<00:58:17.359> i<00:58:17.440> would<00:58:17.599> say<00:58:17.680> call<00:58:17.839> me
up in six months and i would say call me
in<00:58:18.079> six<00:58:18.240> months<00:58:18.640> and<00:58:18.720> they<00:58:18.880> would<00:58:18.960> be<00:58:19.040> like<00:58:19.280> how
in six months and they would be like how
did<00:58:19.520> you<00:58:19.680> know<00:58:20.160> and<00:58:20.559> every<00:58:20.960> every<00:58:21.280> six<00:58:21.520> months
did you know and every every six months
the<00:58:22.240> financial<00:58:22.720> time<00:58:22.880> says<00:58:23.119> rate's<00:58:23.359> gonna<00:58:23.440> go
the financial time says rate's gonna go
up<00:58:23.680> in<00:58:23.760> six<00:58:24.000> months<00:58:24.319> okay<00:58:24.880> that<00:58:25.040> and<00:58:25.200> they
up in six months okay that and they
never<00:58:25.520> did<00:58:25.760> for<00:58:25.920> the<00:58:26.000> last<00:58:26.160> 30<00:58:26.480> years<00:58:26.720> that's
never did for the last 30 years that's
not<00:58:27.040> to<00:58:27.200> say<00:58:27.359> that<00:58:27.520> they<00:58:27.599> can't<00:58:27.839> go<00:58:28.000> up<00:58:28.160> okay
they probably will go up
some<00:58:30.240> small<00:58:30.480> amount<00:58:30.720> in<00:58:30.799> the<00:58:30.960> next<00:58:31.599> few<00:58:31.839> years
take the shorter fixes or the floatings
you'll<00:58:41.599> get<00:58:41.760> a<00:58:41.839> lower<00:58:42.160> rate<00:58:42.640> but<00:58:42.799> you<00:58:42.960> just
i think it's a case of
how<00:58:47.920> much<00:58:48.160> risk<00:58:48.559> you're<00:58:48.720> prepared<00:58:49.040> to<00:58:49.200> take<00:58:49.839> if
how much risk you're prepared to take if
the<00:58:50.240> five<00:58:50.480> year<00:58:50.640> rate<00:58:50.960> the<00:58:51.040> longer<00:58:51.280> trackers
but it all depends on whether you can
afford<00:59:02.640> to<00:59:02.720> take<00:59:02.880> that<00:59:03.040> risk<00:59:03.440> you<00:59:03.599> know<00:59:03.760> for<00:59:03.920> my
afford to take that risk you know for my
part<00:59:04.240> as<00:59:04.319> an<00:59:04.480> interest<00:59:04.720> rate<00:59:04.960> trader<00:59:05.280> i<00:59:05.359> think
part as an interest rate trader i think
interest<00:59:06.000> rates<00:59:06.559> are<00:59:06.720> very<00:59:06.960> unlikely<00:59:07.440> to<00:59:07.599> go
interest rates are very unlikely to go
very<00:59:08.160> high<00:59:08.880> and<00:59:09.040> if<00:59:09.119> they<00:59:09.280> do<00:59:09.440> it<00:59:09.520> will<00:59:09.599> be<00:59:09.680> in<00:59:09.760> a
so try and avoid the very high rates
that<00:59:16.480> you<00:59:16.559> might<00:59:16.720> have<00:59:16.799> to<00:59:16.880> pay<00:59:17.040> to<00:59:17.119> get<00:59:17.280> longer
that you might have to pay to get longer
term<00:59:17.760> fixes<00:59:18.559> um<00:59:19.200> but<00:59:19.599> of<00:59:19.760> course<00:59:20.079> that<00:59:20.319> depends
term fixes um but of course that depends
on<00:59:20.880> you<00:59:21.359> having<00:59:21.680> the<00:59:21.760> financial<00:59:22.240> capacity<00:59:22.640> to
on you having the financial capacity to
take<00:59:22.880> a<00:59:22.960> little<00:59:23.119> bit<00:59:23.280> more<00:59:23.440> risk<00:59:23.839> that<00:59:24.000> you
take a little bit more risk that you
have<00:59:24.319> to<00:59:24.400> take<00:59:24.559> when<00:59:24.720> you're<00:59:24.799> taking<00:59:25.040> short
consensus is that the
base<00:59:30.960> rate<00:59:31.200> will<00:59:31.359> go<00:59:31.599> up<00:59:31.680> to<00:59:32.000> point<00:59:32.400> two<00:59:32.559> five
do you think you'll go much higher than
that<00:59:39.839> i<00:59:39.920> mean<00:59:40.160> i<00:59:40.240> think<00:59:40.400> i<00:59:40.559> thought<00:59:40.720> it<00:59:40.799> was<00:59:40.880> the
that i mean i think i thought it was the
focus<00:59:41.280> it<00:59:41.440> was<00:59:41.599> 1.25<00:59:42.240> they<00:59:42.400> were<00:59:42.480> saying<00:59:42.720> maybe
focus it was 1.25 they were saying maybe
over<00:59:43.280> the<00:59:43.359> course<00:59:43.599> of<00:59:43.680> the<00:59:43.760> next<00:59:44.000> 12<00:59:44.240> months<00:59:44.559> it
over the course of the next 12 months it
might<00:59:44.799> go<00:59:44.960> up<00:59:45.040> to<00:59:45.200> do<00:59:45.359> you<00:59:45.440> actually<00:59:45.760> see<00:59:45.920> that
might go up to do you actually see that
happen<00:59:46.559> i<00:59:46.720> think<00:59:46.960> it<00:59:47.119> probably<00:59:47.440> won't<00:59:47.680> go<00:59:47.760> up
happen i think it probably won't go up
that<00:59:48.079> high<00:59:48.640> um<00:59:49.200> the<00:59:49.359> thing<00:59:49.599> is<00:59:49.839> what's
that high um the thing is what's
happened<00:59:50.400> in<00:59:50.480> the<00:59:50.559> last<00:59:50.799> year<00:59:50.960> with<00:59:51.119> the<00:59:51.200> money
think is unlikely but possible what
would<01:00:07.520> you<01:00:07.680> say<01:00:07.839> is<01:00:08.000> high<01:00:08.240> because<01:00:08.400> they're
would you say is high because they're
saying<01:00:08.960> four<01:00:09.119> percent<01:00:09.440> for<01:00:09.520> the<01:00:09.599> next<01:00:09.839> 12<01:00:10.079> year
saying four percent for the next 12 year
12<01:00:10.640> months<01:00:10.880> so<01:00:11.040> i<01:00:11.440> could<01:00:11.680> definitely<01:00:12.000> go
12 months so i could definitely go
four<01:00:13.040> percent<01:00:13.440> it<01:00:13.520> will<01:00:13.839> i<01:00:13.920> think<01:00:14.079> that<01:00:14.240> will
four percent it will i think that will
happen<01:00:14.640> it<01:00:14.960> could<01:00:15.119> easily<01:00:15.359> go<01:00:15.440> to<01:00:15.599> five
you know if it was go to like seven or
eight<01:00:18.880> percent<01:00:19.280> which<01:00:19.520> is<01:00:19.599> not<01:00:19.760> impossible<01:00:20.160> i
eight percent which is not impossible i
don't<01:00:20.400> wanna<01:00:20.559> panic<01:00:20.880> people<01:00:21.119> but<01:00:21.280> that's<01:00:21.440> not
impossible i'm not predicting it but
it's<01:00:22.960> not<01:00:23.119> impossible<01:00:23.680> if<01:00:23.839> that<01:00:23.920> were<01:00:24.079> to
it's not impossible if that were to
happen<01:00:24.799> then<01:00:25.040> you<01:00:25.119> might<01:00:25.680> think<01:00:25.839> the<01:00:25.920> central
happen then you might think the central
bank<01:00:26.319> would<01:00:26.480> be<01:00:26.559> forced<01:00:26.799> to<01:00:26.880> move<01:00:27.200> but
bank would be forced to move but
if<01:00:28.559> that<01:00:28.720> happens<01:00:29.359> then<01:00:29.599> i<01:00:29.760> expect<01:00:30.000> house
if that happens then i expect house
prices<01:00:30.640> will<01:00:30.799> be<01:00:30.960> rising<01:00:31.520> quite<01:00:31.680> a<01:00:31.760> lot<01:00:31.920> as
prices will be rising quite a lot as
well<01:00:32.720> so<01:00:32.960> you'll<01:00:33.200> be<01:00:33.359> kind<01:00:33.599> of<01:00:33.680> protected<01:00:34.240> by
well so you'll be kind of protected by
the<01:00:34.559> increase<01:00:35.200> in<01:00:35.280> the<01:00:35.359> price<01:00:35.599> in<01:00:35.680> the<01:00:35.760> value
i was an interest rate trader i look at
these<01:00:40.720> things<01:00:40.960> a<01:00:41.040> lot<01:00:41.520> my<01:00:41.920> expectation<01:00:42.880> is
these things a lot my expectation is
that<01:00:43.280> inflation<01:00:43.760> goes<01:00:44.000> up<01:00:44.079> to<01:00:44.240> sort<01:00:44.400> of<01:00:44.880> four
that inflation goes up to sort of four
or<01:00:45.280> five<01:00:45.680> percent<01:00:46.480> maybe<01:00:46.720> as<01:00:46.880> high<01:00:47.040> as<01:00:47.200> six<01:00:47.359> but
then comes back down interest rates
they<01:00:50.319> might<01:00:50.559> squeak<01:00:50.880> up<01:00:50.960> to<01:00:51.119> one<01:00:51.280> percent<01:00:51.920> they
they might squeak up to one percent they
might<01:00:52.400> squeak<01:00:52.720> a<01:00:52.799> little<01:00:52.960> bit<01:00:53.200> over<01:00:53.760> i<01:00:53.920> don't
much higher than one percent i think
that's<01:00:58.640> unlikely<01:00:59.440> um<01:00:59.760> if<01:00:59.920> they<01:01:00.079> do<01:01:00.319> they'll<01:01:00.559> be
that's unlikely um if they do they'll be
in<01:01:00.799> a<01:01:00.880> very<01:01:01.200> high<01:01:01.520> inflation<01:01:01.920> environment<01:01:02.720> so
you can probably expect that inflation
is<01:01:04.319> likely<01:01:04.720> also<01:01:04.960> to<01:01:05.119> bring<01:01:05.280> up<01:01:05.680> the<01:01:05.760> value<01:01:06.000> of
you you'll probably be protected by the
rising<01:01:11.280> price<01:01:11.520> of<01:01:11.599> your<01:01:11.680> home<01:01:11.839> but<01:01:11.920> obviously
rising price of your home but obviously
you<01:01:12.319> need<01:01:12.480> to<01:01:12.559> make<01:01:12.720> you<01:01:12.799> need<01:01:12.960> to<01:01:13.040> be<01:01:13.119> able<01:01:13.200> to
you need to make you need to be able to
make<01:01:13.440> the<01:01:13.520> interest<01:01:13.760> payments<01:01:14.240> yeah<01:01:14.799> and<01:01:14.880> do
make the interest payments yeah and do
you<01:01:15.200> think<01:01:15.440> that<01:01:15.599> if<01:01:15.680> it<01:01:15.760> does<01:01:16.000> go<01:01:16.079> up<01:01:16.240> to<01:01:16.319> like
incrementally across the 12 ma across
the<01:01:22.400> next<01:01:22.640> 12<01:01:22.799> months<01:01:23.040> because<01:01:23.359> the<01:01:23.440> risk
the next 12 months because the risk
there<01:01:23.920> is<01:01:24.079> if<01:01:24.240> they<01:01:24.319> go<01:01:24.480> on<01:01:24.960> increasingly<01:01:25.520> say
there is if they go on increasingly say
by<01:01:25.920> half<01:01:26.160> a<01:01:26.240> percent<01:01:26.640> or<01:01:26.720> something<01:01:27.040> like<01:01:27.200> that
by half a percent or something like that
it's<01:01:27.760> quite<01:01:28.079> a<01:01:28.240> big<01:01:28.559> shock<01:01:28.799> to<01:01:28.960> the<01:01:29.040> system
they've got no incentive to shock the
economy<01:01:39.200> i<01:01:39.280> think<01:01:39.440> they're<01:01:39.599> just<01:01:39.839> trying<01:01:40.079> to
economy i think they're just trying to
they<01:01:40.720> need<01:01:41.119> they<01:01:41.440> they<01:01:41.680> want<01:01:41.839> to<01:01:42.079> appear
they need they they want to appear
strong<01:01:43.200> but<01:01:43.359> they<01:01:43.440> don't<01:01:43.599> want<01:01:43.680> to<01:01:43.760> shock<01:01:44.000> the
been zero for a long long long time in a
lot<01:01:47.680> of<01:01:47.760> countries<01:01:48.640> um<01:01:49.280> on<01:01:49.440> occasions<01:01:49.920> where
central banks have provided even minimal
shocks<01:01:52.799> it's<01:01:53.520> been<01:01:53.680> really<01:01:53.839> damaging<01:01:54.240> to<01:01:54.400> the
shocks it's been really damaging to the
stock<01:01:54.720> market<01:01:55.039> for<01:01:55.119> example<01:01:56.079> and<01:01:56.480> you<01:01:56.559> know
stock market for example and you know
given<01:01:57.280> the<01:01:57.359> state<01:01:57.520> of<01:01:57.599> the<01:01:57.680> economy<01:01:58.000> at<01:01:58.079> the
given the state of the economy at the
moment<01:01:58.960> the<01:01:59.119> central<01:01:59.359> bank<01:01:59.440> doesn't<01:01:59.599> want<01:01:59.680> to
they will telegraph it in advance which
is<01:02:04.400> what<01:02:04.480> they're<01:02:04.640> doing<01:02:04.799> now<01:02:05.440> um<01:02:05.839> and<01:02:06.160> they'll
is what they're doing now um and they'll
move<01:02:06.559> slowly<01:02:07.200> and<01:02:07.440> i<01:02:07.680> personally<01:02:08.240> think<01:02:08.480> it's
unlikely rates will go up significantly
above<01:02:10.880> one<01:02:11.039> percent<01:02:11.599> if<01:02:11.760> they<01:02:12.000> do<01:02:12.160> then<01:02:12.319> it
above one percent if they do then it
will<01:02:12.559> be<01:02:12.640> in<01:02:13.039> an<01:02:13.200> environment<01:02:13.680> of<01:02:14.240> really
aggressively rising house prices and
probably<01:02:16.799> inflation<01:02:17.520> which<01:02:17.680> might<01:02:17.839> not<01:02:18.000> be<01:02:18.160> a
probably inflation which might not be a
great<01:02:18.480> thing<01:02:18.640> but<01:02:19.039> yeah<01:02:19.440> i<01:02:19.520> mean<01:02:19.680> do<01:02:19.839> you<01:02:20.000> think
that the fed
will<01:02:22.480> kind<01:02:22.720> of<01:02:22.880> i<01:02:22.960> mean<01:02:23.119> i<01:02:23.200> know<01:02:23.359> it's<01:02:23.520> a
different geographical area they've got
their<01:02:25.119> own<01:02:25.200> problems<01:02:25.520> over<01:02:25.680> in<01:02:25.839> the<01:02:25.920> states
but i think the bank meeting will be the
first<01:02:29.359> major<01:02:29.680> bank<01:02:30.240> globally<01:02:30.799> to<01:02:31.200> to<01:02:31.359> move<01:02:31.680> in
if we see that move do you think that
might<01:02:35.440> impact<01:02:35.839> some<01:02:36.000> of<01:02:36.079> the<01:02:36.400> policies<01:02:37.039> here
mean i've been looking at this exact
area<01:02:43.039> for<01:02:43.119> a<01:02:43.200> long<01:02:43.440> time<01:02:43.760> and<01:02:43.920> i've<01:02:44.000> had<01:02:44.160> this
area for a long time and i've had this
debate<01:02:44.640> many<01:02:44.880> many<01:02:45.119> times<01:02:45.440> in<01:02:45.599> my<01:02:45.760> career
everybody's always like when the rates
got<01:02:47.760> when<01:02:47.920> the<01:02:48.000> rates<01:02:48.240> go<01:02:48.480> up<01:02:48.720> but<01:02:48.960> history<01:02:49.440> has
when they do go up they go up slowly and
they<01:02:53.680> don't<01:02:53.839> go<01:02:54.000> up<01:02:54.160> in<01:02:54.319> sustained<01:02:54.799> fashion
they don't go up in sustained fashion
and<01:02:55.520> i<01:02:55.920> suspect<01:02:56.319> that<01:02:56.480> that<01:02:56.640> will<01:02:56.720> continue<01:02:57.680> um
and i suspect that that will continue um
obviously<01:02:59.359> some<01:02:59.520> things<01:02:59.760> have<01:02:59.920> changed<01:03:00.160> we've
obviously some things have changed we've
got<01:03:00.480> a<01:03:00.559> much<01:03:01.119> like<01:03:01.359> i've<01:03:01.520> said<01:03:01.760> they've
got a much like i've said they've
printed<01:03:02.240> a<01:03:02.319> huge<01:03:02.480> amount<01:03:02.640> of<01:03:02.720> money<01:03:02.960> that<01:03:03.039> has
printed a huge amount of money that has
the<01:03:03.200> potential<01:03:03.520> to<01:03:03.680> be<01:03:03.760> very<01:03:04.000> inflationary<01:03:04.960> um
i mean it's hard to basically unless
wages<01:03:12.880> start<01:03:13.039> going<01:03:13.359> up<01:03:14.000> then<01:03:14.240> you're<01:03:14.400> not
yeah cool there was another one here um
look<01:03:20.720> at<01:03:20.799> the<01:03:20.880> purchase<01:03:21.200> first<01:03:21.359> property<01:03:21.680> here
look at the purchase first property here
how<01:03:22.079> many<01:03:22.240> years<01:03:22.480> fixed<01:03:22.799> rate<01:03:23.039> would<01:03:23.200> you
how many years fixed rate would you
recommend<01:03:24.319> was<01:03:24.480> it<01:03:24.559> good<01:03:24.720> at<01:03:24.880> five<01:03:25.119> years<01:03:25.440> i
recommend was it good at five years i
mean<01:03:25.839> you've<01:03:26.079> already<01:03:26.319> kind<01:03:26.480> of<01:03:26.640> uh<01:03:26.880> touched
don't pay massively more for a longer
fix<01:03:32.640> unless<01:03:33.039> you<01:03:33.280> really<01:03:33.520> need<01:03:33.680> that<01:03:33.839> security
that's my opinion um you know if i don't
know<01:03:37.119> what<01:03:37.200> the<01:03:37.280> rates<01:03:37.599> are<01:03:37.760> now<01:03:38.079> at<01:03:38.160> the
know what the rates are now at the
moment<01:03:38.720> do<01:03:38.799> you<01:03:38.880> know<01:03:38.960> what<01:03:39.039> the<01:03:39.119> rates<01:03:39.359> are<01:03:39.440> at
the mortgage rates are very impressive
yeah<01:03:43.119> they're<01:03:43.359> moving<01:03:43.599> around<01:03:44.160> um<01:03:44.720> but<01:03:44.960> i<01:03:45.280> know
yeah they're moving around um but i know
that<01:03:45.599> you<01:03:45.839> depending<01:03:46.240> on<01:03:46.319> loan<01:03:46.559> to<01:03:46.640> values<01:03:47.039> and
that you depending on loan to values and
stuff<01:03:47.280> like<01:03:47.440> that<01:03:47.599> you<01:03:47.760> can<01:03:47.920> have<01:03:48.319> you<01:03:48.559> have
stuff like that you can have you have
been<01:03:49.200> able<01:03:49.359> to<01:03:49.440> get<01:03:49.599> into<01:03:50.079> a<01:03:50.160> couple<01:03:50.400> of<01:03:50.480> fixed
been able to get into a couple of fixed
rate<01:03:50.960> at<01:03:51.119> one<01:03:51.359> two<01:03:51.520> percent<01:03:52.319> there<01:03:52.559> were<01:03:52.720> i
rate at one two percent there were i
mean<01:03:52.960> yeah<01:03:53.200> i<01:03:53.280> think<01:03:53.440> they're<01:03:53.680> probably<01:03:53.839> not
available right now my
if<01:03:56.319> you<01:03:56.480> know<01:03:56.799> if<01:03:56.880> you're<01:03:57.119> paying<01:03:57.359> sort<01:03:57.520> of<01:03:57.839> a
if you know if you're paying sort of a
full<01:03:58.240> percent<01:03:58.720> extra<01:03:58.960> for<01:03:59.119> a<01:03:59.280> five<01:03:59.520> year<01:03:59.839> over
full percent extra for a five year over
two<01:04:00.319> year<01:04:00.799> my<01:04:00.960> tendency<01:04:01.520> and<01:04:01.680> you<01:04:01.760> might<01:04:02.000> be
two year my tendency and you might be
paying<01:04:02.319> more<01:04:02.480> than<01:04:02.640> that<01:04:02.880> my<01:04:03.039> tenancy<01:04:03.440> would
be to go with a two-year um
but<01:04:06.880> as<01:04:07.119> i<01:04:07.200> say<01:04:07.440> you<01:04:07.599> need<01:04:07.760> to<01:04:07.839> be<01:04:08.319> willing<01:04:08.720> to
but as i say you need to be willing to
you<01:04:09.119> know<01:04:09.359> that<01:04:09.599> involves<01:04:09.920> risk<01:04:10.480> um<01:04:10.799> you'll
you know that involves risk um you'll
probably<01:04:11.280> save<01:04:11.520> money<01:04:11.760> but<01:04:11.839> it<01:04:11.920> involves<01:04:12.240> risk
probably save money but it involves risk
um<01:04:12.960> if<01:04:13.039> you<01:04:13.200> think<01:04:13.359> you<01:04:13.440> can<01:04:13.520> afford<01:04:13.839> to<01:04:13.920> take
um if you think you can afford to take
it<01:04:14.640> do<01:04:14.799> that<01:04:15.039> and<01:04:15.119> then<01:04:15.280> you<01:04:15.359> know<01:04:15.520> do<01:04:15.680> the
if you're taking out a large mortgage
overpay<01:04:19.359> if<01:04:19.440> you<01:04:19.520> get<01:04:19.680> some<01:04:19.839> extra<01:04:20.079> cash<01:04:20.559> you
overpay if you get some extra cash you
know<01:04:21.039> try<01:04:21.200> and<01:04:21.280> reduce<01:04:21.520> that<01:04:21.680> debt<01:04:21.839> to<01:04:21.920> a
know try and reduce that debt to a
manageable<01:04:22.480> amount<01:04:22.880> you<01:04:23.039> know<01:04:23.200> as<01:04:23.359> well<01:04:23.599> as
making other investments if you think
that<01:04:25.680> works<01:04:25.920> for<01:04:26.079> your<01:04:26.720> situation<01:04:27.520> yeah<01:04:28.000> and
that works for your situation yeah and
this<01:04:28.240> is<01:04:28.319> why<01:04:28.480> i<01:04:28.640> said<01:04:28.880> on<01:04:29.039> the<01:04:29.119> live<01:04:29.359> guys<01:04:29.760> like
to kind of understand your financial
situation<01:04:36.400> so<01:04:36.640> a4<01:04:37.520> line<01:04:37.760> down<01:04:37.920> the<01:04:38.000> middle
situation so a4 line down the middle
income<01:04:38.799> expenditure<01:04:39.440> figure<01:04:39.680> out<01:04:39.839> what<01:04:40.000> it<01:04:40.079> is
income expenditure figure out what it is
that<01:04:40.400> you've<01:04:40.559> got<01:04:40.720> so<01:04:40.960> you<01:04:41.039> can<01:04:41.200> actually<01:04:41.440> plan
that you've got so you can actually plan
your<01:04:41.839> finances<01:04:42.960> and<01:04:43.119> then<01:04:43.280> you<01:04:43.440> can<01:04:43.599> sit<01:04:43.839> down
the cost for a two year fixed or a five
year<01:04:47.200> fixed<01:04:47.920> you're<01:04:48.079> going<01:04:48.160> to<01:04:48.240> be<01:04:48.319> paying
year fixed you're going to be paying
more<01:04:48.720> in<01:04:48.799> the<01:04:48.880> five<01:04:49.039> year<01:04:49.280> because<01:04:49.520> of<01:04:49.839> the
fact that you're getting more security
over<01:04:51.359> the<01:04:51.440> longer<01:04:51.680> term<01:04:52.319> but<01:04:52.720> that<01:04:53.119> you'll<01:04:53.280> be
financial situation is what enable to
enable<01:05:03.680> you<01:05:03.839> to<01:05:04.079> make<01:05:04.319> an<01:05:04.480> informed<01:05:04.880> decision
enable you to make an informed decision
as<01:05:05.359> opposed<01:05:05.680> to<01:05:05.920> kind<01:05:06.079> of<01:05:06.240> looking<01:05:06.480> at<01:05:06.640> it<01:05:06.799> and
as opposed to kind of looking at it and
thinking<01:05:07.920> oh<01:05:08.160> i'm<01:05:08.319> going<01:05:08.400> to<01:05:08.480> panic<01:05:08.799> and<01:05:08.880> then
just do something that may not
necessarily<01:05:10.640> be<01:05:10.799> the<01:05:10.880> smartest<01:05:11.359> thing<01:05:11.599> so<01:05:12.079> you
um
what<01:05:18.640> else<01:05:18.799> we<01:05:18.960> got<01:05:19.039> here<01:05:19.200> i'm<01:05:19.280> just<01:05:19.359> trying<01:05:19.520> to
what else we got here i'm just trying to
have<01:05:19.760> a<01:05:19.839> look<01:05:20.079> there<01:05:20.240> was<01:05:20.799> one<01:05:21.039> here<01:05:21.200> about<01:05:21.359> how
have a look there was one here about how
old<01:05:21.760> i<01:05:21.920> am<01:05:22.319> i<01:05:22.400> think<01:05:22.559> because<01:05:22.799> i<01:05:22.880> mentioned
old i am i think because i mentioned
something<01:05:23.599> about<01:05:24.000> um<01:05:24.799> 1998<01:05:25.680> coming<01:05:25.839> back<01:05:26.000> to
something about um 1998 coming back to
the<01:05:26.240> country<01:05:26.880> and<01:05:27.200> lorinda<01:05:27.760> actually<01:05:28.079> got<01:05:28.319> the
what is this about mark zuckerberg uh
people<01:05:41.839> need<01:05:42.000> to<01:05:42.079> learn<01:05:42.319> to<01:05:42.640> think<01:05:42.799> about<01:05:42.960> the
because
i<01:06:00.400> can<01:06:00.640> see<01:06:00.880> it<01:06:01.119> but<01:06:01.280> i<01:06:01.599> don't<01:06:01.920> understand<01:06:02.640> it
i can see it but i don't understand it
you<01:06:03.280> know<01:06:03.359> what<01:06:03.440> it<01:06:03.599> reminds<01:06:03.839> me<01:06:04.000> of<01:06:04.160> you
i don't think so it's a computer game
movie<01:06:09.760> right<01:06:10.240> yeah<01:06:10.400> basically<01:06:10.799> it's<01:06:10.960> a<01:06:11.039> movie
movie right yeah basically it's a movie
and<01:06:11.520> it<01:06:11.760> is<01:06:11.920> about<01:06:12.319> um<01:06:12.720> a<01:06:12.880> world<01:06:13.200> where<01:06:13.599> you
and it is about um a world where you
could<01:06:14.160> you<01:06:14.319> can<01:06:14.400> literally<01:06:14.799> have<01:06:14.960> a<01:06:15.039> virtual
that's what i think about when i think
about<01:06:20.480> the<01:06:20.559> metaverse<01:06:21.520> yeah<01:06:21.920> but<01:06:22.160> i<01:06:22.240> saw
yeah i mean i'm not a stock picker more
than<01:06:31.839> you<01:06:32.000> than<01:06:32.160> me<01:06:32.400> but<01:06:32.640> we'll<01:06:32.799> see<01:06:32.960> how<01:06:33.119> it
than you than me but we'll see how it
goes<01:06:33.440> i<01:06:33.599> guess<01:06:34.079> i'm<01:06:34.720> not<01:06:34.880> convinced<01:06:35.280> but<01:06:35.440> maybe
i'm a bit too much of a skeptic
yeah<01:06:38.000> i<01:06:38.079> don't<01:06:38.319> i<01:06:38.400> don't<01:06:38.640> know<01:06:39.119> i<01:06:39.280> mean<01:06:39.520> i<01:06:39.599> can
to me it feels as though the younger
generation<01:06:48.079> are<01:06:48.160> a<01:06:48.319> lot<01:06:48.480> more<01:06:48.960> clued<01:06:49.359> into
generation are a lot more clued into
this<01:06:49.839> than<01:06:50.160> than<01:06:50.400> i<01:06:50.799> possibly<01:06:51.280> could<01:06:51.440> ever<01:06:51.680> be
but
the<01:06:53.680> fact<01:06:53.920> that<01:06:54.160> you<01:06:54.319> know<01:06:54.559> look<01:06:54.799> look<01:06:55.039> at<01:06:55.119> the
the fact that you know look look at the
size<01:06:55.599> of<01:06:55.680> facebook<01:06:56.240> if<01:06:56.400> they<01:06:56.799> they<01:06:57.039> make<01:06:57.280> that
size of facebook if they they make that
i<01:06:57.520> think<01:06:57.680> they're<01:06:57.920> saying<01:06:58.160> it<01:06:58.240> was<01:06:58.400> going<01:06:58.480> to
put on it i think you have to pay
attention<01:07:06.400> to<01:07:06.559> it<01:07:06.640> so<01:07:06.799> i'm<01:07:07.359> i'm<01:07:07.520> trying<01:07:07.680> to<01:07:07.760> get
what that actually looks like because it
then<01:07:11.760> crosses<01:07:12.160> over<01:07:12.319> into<01:07:12.480> the<01:07:12.559> world<01:07:12.720> of<01:07:12.880> nfts
then crosses over into the world of nfts
and<01:07:13.920> crypto<01:07:14.559> and<01:07:15.039> you<01:07:15.200> know<01:07:15.359> decentraland<01:07:16.160> and
and crypto and you know decentraland and
all<01:07:16.400> that<01:07:16.640> kind<01:07:16.799> of<01:07:16.880> stuff<01:07:17.119> it's<01:07:17.359> very<01:07:17.599> very
uh what else we got here someone said if
you've<01:07:23.039> got<01:07:23.200> the<01:07:23.280> cash<01:07:23.520> to<01:07:23.680> pay<01:07:23.839> off<01:07:23.920> your
mortgage totally should you pay off
um<01:07:27.680> i'd<01:07:27.839> say<01:07:28.000> it's<01:07:28.079> a<01:07:28.160> personal<01:07:28.480> choice
i always advise a sense of middle ground
pay<01:07:34.480> some<01:07:34.720> off<01:07:34.960> make<01:07:35.119> a<01:07:35.200> nice<01:07:35.440> chunky
then you've got property but you've also
got<01:07:47.520> some<01:07:47.680> stock<01:07:48.000> which<01:07:48.160> is<01:07:48.240> a<01:07:48.319> bit<01:07:48.480> more
you know i'm wealthy enough that i don't
have<01:07:55.440> to<01:07:55.599> have<01:07:55.680> mortgages<01:07:56.079> but<01:07:56.240> i<01:07:56.319> do<01:07:56.480> use
have to have mortgages but i do use
mortgages<01:07:57.200> because<01:07:57.359> i<01:07:57.440> think<01:07:57.599> it<01:07:57.680> gives<01:07:57.839> me<01:07:57.920> a
but i think i think having a small
mortgage<01:08:15.760> you<01:08:15.839> know<01:08:16.000> everybody<01:08:16.319> wants<01:08:16.480> to<01:08:16.560> be
mortgage you know everybody wants to be
mortgage<01:08:17.040> free<01:08:17.279> it<01:08:17.359> sounds<01:08:17.679> great<01:08:17.920> but<01:08:18.080> i
mortgage free it sounds great but i
think<01:08:18.640> having<01:08:18.960> a<01:08:19.040> small<01:08:19.359> mortgage<01:08:19.759> and<01:08:20.000> also
think having a small mortgage and also
a<01:08:21.199> sensible<01:08:22.080> stock<01:08:22.480> portfolio<01:08:23.759> is<01:08:23.920> perhaps<01:08:24.159> a
a sensible stock portfolio is perhaps a
nice<01:08:24.400> place<01:08:24.640> to<01:08:24.719> be<01:08:24.799> as<01:08:24.880> well<01:08:25.279> yeah<01:08:25.920> i
definitely agree with that whether you
should<01:08:28.239> or<01:08:28.480> not<01:08:28.799> is<01:08:28.960> completely<01:08:29.440> down<01:08:29.679> to<01:08:29.759> how
should or not is completely down to how
you<01:08:30.239> feel<01:08:30.480> waking<01:08:30.799> up<01:08:30.880> in<01:08:30.960> the<01:08:31.040> morning<01:08:31.920> like
you feel waking up in the morning like
if<01:08:32.400> you<01:08:32.480> paid<01:08:32.719> off<01:08:32.799> the<01:08:32.960> house<01:08:33.279> altogether
would would you feel massively different
would<01:08:38.080> you<01:08:38.239> feel<01:08:38.480> freer<01:08:39.279> if<01:08:39.440> the<01:08:39.600> answer<01:08:39.839> to
would you feel freer if the answer to
that<01:08:40.159> is<01:08:40.319> yes<01:08:40.560> then<01:08:40.799> maybe<01:08:41.120> you<01:08:41.279> should<01:08:41.679> but<01:08:42.080> if
that is yes then maybe you should but if
the<01:08:42.400> answer<01:08:42.640> to<01:08:42.799> that<01:08:42.960> is<01:08:43.120> well<01:08:43.279> actually
in this conversation i think about
what<01:08:51.520> the<01:08:51.679> conversations<01:08:52.159> have<01:08:52.239> to<01:08:52.319> have<01:08:52.480> with
a wealthy client because wealthy people
do<01:08:54.400> use<01:08:54.560> mortgages<01:08:55.520> because<01:08:56.159> if<01:08:56.319> it's<01:08:56.640> cheap
do use mortgages because if it's cheap
to<01:08:56.960> borrow<01:08:57.279> money<01:08:57.920> why<01:08:58.080> would<01:08:58.239> you<01:08:58.400> use<01:08:58.640> your
to borrow money why would you use your
liquid<01:08:59.359> cash<01:08:59.679> or<01:08:59.920> cash<01:09:00.239> to<01:09:00.400> actually<01:09:00.719> go<01:09:00.960> and
liquid cash or cash to actually go and
pay<01:09:01.359> off<01:09:01.440> something<01:09:01.839> when<01:09:02.000> you<01:09:02.080> can<01:09:02.319> borrow
property where you can also get a yield
as<01:09:07.279> well<01:09:07.520> it's<01:09:08.239> there<01:09:08.480> are<01:09:08.640> so<01:09:08.799> many
as well it's there are so many
facilities<01:09:09.600> out<01:09:09.759> there<01:09:10.239> but<01:09:10.400> because<01:09:10.640> this<01:09:10.799> is
your residential property it's the
question<01:09:12.799> of<01:09:13.199> does<01:09:13.440> it<01:09:13.600> make<01:09:13.759> you<01:09:13.920> feel<01:09:14.159> more
question of does it make you feel more
safe<01:09:14.960> more<01:09:15.199> secure<01:09:15.839> from<01:09:16.080> a<01:09:16.319> mindset<01:09:16.719> point<01:09:16.960> of
if it's really really important to you
that<01:09:20.319> absolutely<01:09:21.279> but<01:09:21.440> i<01:09:21.600> think<01:09:21.839> that<01:09:22.080> you
that absolutely but i think that you
have<01:09:22.480> to<01:09:22.640> then<01:09:22.880> on<01:09:23.040> the<01:09:23.199> other<01:09:23.440> coin<01:09:23.759> think
have to then on the other coin think
about<01:09:24.239> okay<01:09:24.480> if<01:09:24.640> you<01:09:24.799> did<01:09:25.040> have<01:09:25.279> that<01:09:25.440> much
about okay if you did have that much
money<01:09:26.000> about<01:09:26.640> and<01:09:26.799> you<01:09:26.880> put<01:09:27.040> it<01:09:27.120> into<01:09:27.279> the
money about and you put it into the
stock<01:09:27.679> market<01:09:28.480> yes<01:09:28.799> you've<01:09:28.960> got<01:09:29.120> to<01:09:29.199> take<01:09:29.359> the
stock market yes you've got to take the
risk<01:09:29.920> and<01:09:30.080> so<01:09:30.239> on<01:09:30.319> and<01:09:30.400> so<01:09:30.640> forth<01:09:30.880> but<01:09:31.040> if<01:09:31.120> you
compound effect that that could actually
have<01:09:34.960> over<01:09:35.199> a<01:09:35.279> 10<01:09:35.520> or<01:09:35.600> 15<01:09:35.920> year<01:09:36.080> period<01:09:36.400> that
have over a 10 or 15 year period that
you<01:09:36.640> would<01:09:36.799> have<01:09:36.960> been<01:09:37.120> using<01:09:37.359> to<01:09:37.520> pay<01:09:37.679> off
you could amass more arguably in the
stock<01:09:42.640> market<01:09:42.960> than<01:09:43.120> if<01:09:43.279> you<01:09:43.359> did<01:09:43.600> just<01:09:43.839> pay
stock market than if you did just pay
using<01:09:44.480> that<01:09:44.640> cash<01:09:44.880> to<01:09:45.040> pay<01:09:45.199> off<01:09:45.359> the<01:09:45.520> property
it really it's a personal choice really
and<01:09:50.880> it's<01:09:51.199> all<01:09:51.359> about<01:09:51.600> what<01:09:51.839> you<01:09:52.080> feel<01:09:52.719> just<01:09:52.960> be
if you're if you choose to invest in the
stock<01:09:56.719> market<01:09:57.199> with<01:09:57.440> that<01:09:57.600> money<01:09:57.840> that<01:09:58.080> could
stock market with that money that could
go<01:09:58.400> into<01:09:58.560> your<01:09:58.640> mortgage<01:09:59.360> just<01:09:59.600> bear<01:09:59.760> in<01:09:59.840> mind
go into your mortgage just bear in mind
you<01:10:00.159> know<01:10:00.320> you're<01:10:00.560> that<01:10:00.719> you're<01:10:00.880> kind<01:10:01.040> of
you know you're that you're kind of
you're<01:10:01.360> using<01:10:01.679> borrowed<01:10:02.000> money<01:10:02.239> in<01:10:02.320> a<01:10:02.400> sense
perhaps be a little bit less uh risk
seeking<01:10:06.480> in<01:10:06.560> the<01:10:06.640> stock<01:10:06.800> market<01:10:07.120> don't<01:10:07.280> dump
your mortgage off
i<01:10:13.600> would<01:10:13.840> recommend<01:10:14.400> if<01:10:14.480> you<01:10:14.560> want<01:10:14.640> to<01:10:14.719> put<01:10:14.880> in
don't put everything into one risky
share<01:10:22.400> or<01:10:22.640> crypto<01:10:23.040> obviously<01:10:23.920> yeah<01:10:24.400> don't<01:10:24.640> go
they're always or anything like that
just<01:10:30.960> yeah<01:10:31.360> don't<01:10:31.679> i<01:10:31.840> i've<01:10:32.159> had<01:10:32.239> a<01:10:32.320> couple<01:10:32.480> of
questions before saying you know should
i<01:10:33.920> take<01:10:34.080> out<01:10:34.159> a<01:10:34.239> loan<01:10:34.480> to<01:10:34.560> invest<01:10:34.800> in<01:10:34.880> the
cool i think that's pretty much it
really<01:10:42.880> to<01:10:42.960> be<01:10:43.040> honest<01:10:43.440> mate<01:10:43.679> i<01:10:43.920> appreciate
really to be honest mate i appreciate
you<01:10:44.719> for<01:10:44.960> being<01:10:45.280> on<01:10:45.360> here<01:10:45.520> and<01:10:45.600> spending<01:10:45.840> this
you for being on here and spending this
time<01:10:46.159> with<01:10:46.320> us<01:10:46.400> on<01:10:46.480> the<01:10:46.560> sunday<01:10:46.960> evening
time with us on the sunday evening
um<01:10:49.360> so<01:10:49.600> okay<01:10:50.239> um<01:10:50.960> you're<01:10:51.120> right<01:10:51.280> in<01:10:51.360> the<01:10:51.440> book
um so okay um you're right in the book
at<01:10:51.600> a<01:10:51.679> minute<01:10:52.239> are<01:10:52.640> you<01:10:52.960> kind<01:10:53.120> of<01:10:53.280> where<01:10:53.440> are
at a minute are you kind of where are
you<01:10:53.600> with<01:10:53.679> the<01:10:53.760> book<01:10:53.920> at<01:10:54.000> the<01:10:54.080> minute<01:10:54.640> uh<01:10:54.800> it's
you with the book at the minute uh it's
not<01:10:55.040> going<01:10:55.120> to<01:10:55.199> be<01:10:55.280> out<01:10:55.360> for<01:10:55.440> a<01:10:55.520> while<01:10:55.840> but<01:10:56.080> um<01:10:56.400> i
not going to be out for a while but um i
want<01:10:56.640> to<01:10:56.719> write<01:10:56.800> a<01:10:56.880> book<01:10:57.040> about<01:10:57.199> my<01:10:57.360> time<01:10:57.600> as<01:10:57.679> a
want to write a book about my time as a
trader<01:10:58.320> and<01:10:58.560> i<01:10:58.640> learn<01:10:58.960> and<01:10:59.120> hopefully<01:10:59.440> it'll
trader and i learn and hopefully it'll
be<01:10:59.679> great<01:11:00.000> but<01:11:00.239> um<01:11:00.480> i'd<01:11:00.560> love<01:11:00.800> to<01:11:00.880> say<01:11:01.040> go<01:11:01.199> out
be great but um i'd love to say go out
and<01:11:01.440> buy<01:11:01.600> it<01:11:01.679> but<01:11:02.159> it's<01:11:02.320> a<01:11:02.400> long<01:11:02.640> long<01:11:02.800> way<01:11:03.040> from
and buy it but it's a long long way from
done<01:11:03.360> but<01:11:03.520> if<01:11:03.600> people<01:11:04.400> follow<01:11:04.640> me<01:11:04.880> i'm<01:11:05.040> on<01:11:05.199> all
when the book is ready which will be a
long<01:11:11.360> time<01:11:11.600> away<01:11:11.920> it<01:11:12.000> will<01:11:12.080> be<01:11:12.320> pushed<01:11:12.719> heavily
people wanna people are interested
follow<01:11:16.159> me<01:11:16.400> and<01:11:16.640> you<01:11:16.800> will<01:11:16.880> definitely<01:11:17.199> not<01:11:17.440> in
follow me and you will definitely not in
the<01:11:17.679> beginning<01:11:18.000> yeah<01:11:18.320> go<01:11:18.640> follow<01:11:19.120> and<01:11:19.440> i'm
the beginning yeah go follow and i'm
sure<01:11:20.480> someone<01:11:20.880> asked<01:11:21.120> you<01:11:21.199> this<01:11:21.600> no<01:11:22.159> i<01:11:22.320> think
sure someone asked you this no i think
you<01:11:22.719> i<01:11:22.960> listened<01:11:23.199> to<01:11:23.280> one<01:11:23.440> of<01:11:23.520> your<01:11:23.679> interviews
you i listened to one of your interviews
on<01:11:24.159> the<01:11:24.239> radio<01:11:24.800> and<01:11:24.960> the<01:11:25.040> last<01:11:25.280> question<01:11:25.600> was
ask me that yeah sometimes i wonder
whether<01:11:33.040> i<01:11:33.120> could<01:11:33.280> have<01:11:33.360> more<01:11:33.520> influence<01:11:33.920> in
whether i could have more influence in
that<01:11:34.159> space<01:11:34.719> i<01:11:34.800> mean<01:11:35.040> the<01:11:35.199> problem<01:11:35.520> is<01:11:35.600> you
a lot of people are skeptical of
politicians<01:11:38.239> once<01:11:38.480> you<01:11:38.560> go<01:11:38.719> on<01:11:38.960> you<01:11:39.120> know<01:11:39.199> if<01:11:39.280> i
politicians once you go on you know if i
was<01:11:39.440> to<01:11:39.520> join<01:11:39.760> the<01:11:39.840> labour<01:11:40.080> party<01:11:40.400> i<01:11:40.480> have<01:11:40.560> to
was to join the labour party i have to
say<01:11:40.800> the<01:11:40.880> labor<01:11:41.199> party<01:11:41.440> line<01:11:41.840> and<01:11:42.000> it's<01:11:42.080> just
say the labor party line and it's just
like<01:11:42.640> i<01:11:42.719> want<01:11:42.880> to<01:11:43.040> say<01:11:43.520> what<01:11:43.760> i<01:11:43.840> believe<01:11:44.159> and
what the truth is um
but<01:11:46.480> look<01:11:46.640> at<01:11:46.719> the<01:11:46.880> moment<01:11:47.199> i<01:11:47.280> think<01:11:47.440> i<01:11:47.520> can<01:11:47.920> i'm
but look at the moment i think i can i'm
trying<01:11:48.400> to<01:11:48.480> build<01:11:48.960> a<01:11:49.120> presence<01:11:50.000> in<01:11:50.159> the<01:11:50.239> media
um
if<01:11:52.320> at<01:11:52.400> some<01:11:52.560> point<01:11:52.800> i<01:11:52.880> think<01:11:53.040> i<01:11:53.120> could<01:11:53.280> have
if at some point i think i could have
more<01:11:53.520> of<01:11:53.600> an<01:11:53.679> impact<01:11:53.920> in<01:11:54.080> politics<01:11:54.400> i<01:11:54.480> might
more of an impact in politics i might
choose<01:11:54.880> that<01:11:55.040> but<01:11:55.120> i<01:11:55.199> just<01:11:55.360> don't<01:11:55.520> want<01:11:55.679> to
choose that but i just don't want to
i<01:11:57.600> don't<01:11:57.760> want<01:11:57.840> to<01:11:57.920> have<01:11:58.080> to<01:11:58.239> say<01:11:58.400> what<01:11:58.560> i'm
i don't want to have to say what i'm
told<01:11:58.880> to<01:11:58.960> say<01:11:59.280> right<01:11:59.520> now<01:11:59.760> like<01:12:00.000> nobody's
told to say right now like nobody's
paying<01:12:00.640> me<01:12:00.719> to<01:12:00.880> say<01:12:01.040> what<01:12:01.120> i<01:12:01.280> say<01:12:01.600> you<01:12:01.760> know<01:12:02.000> um
people out there know they can believe
me<01:12:06.320> i've<01:12:06.400> got<01:12:06.560> no<01:12:06.719> financial<01:12:07.120> incentive<01:12:07.520> to
me i've got no financial incentive to
say<01:12:07.840> the<01:12:07.920> things<01:12:08.159> that<01:12:08.239> i<01:12:08.400> say<01:12:08.640> so<01:12:08.800> um
say the things that i say so um
but<01:12:09.760> yeah<01:12:10.080> look<01:12:10.719> i'm<01:12:11.040> open<01:12:11.280> to<01:12:11.440> it<01:12:11.600> but<01:12:11.760> it's
but yeah look i'm open to it but it's
not<01:12:12.000> something<01:12:12.320> i'm<01:12:12.400> thinking<01:12:12.719> about<01:12:13.040> at<01:12:13.120> the
moment maybe maybe you're on political
party<01:12:15.360> in<01:12:15.520> a<01:12:15.920> whole<01:12:16.400> you<01:12:16.560> know<01:12:16.800> kind<01:12:16.960> of
everybody kind of they can understand
the<01:12:26.080> way<01:12:26.239> you're<01:12:26.480> speaking<01:12:26.880> and<01:12:26.960> you<01:12:27.120> speak<01:12:27.280> a
lot of sense as well so
who<01:12:29.120> knows<01:12:29.440> might<01:12:29.600> come<01:12:29.760> along<01:12:29.920> a<01:12:30.000> bit<01:12:30.159> later
who knows might come along a bit later
on<01:12:30.560> mate<01:12:31.280> yeah<01:12:31.520> i'll<01:12:31.840> need<01:12:32.080> um<01:12:32.560> i'll<01:12:32.719> need<01:12:32.880> to
on mate yeah i'll need um i'll need to
build<01:12:33.280> my<01:12:33.600> uh<01:12:33.840> presence<01:12:34.159> up<01:12:34.239> a<01:12:34.320> bit<01:12:34.480> more<01:12:34.800> so
definitely go and follow for sure all
right<01:12:39.840> mate<01:12:40.080> cool<01:12:40.320> i<01:12:40.480> appreciate<01:12:40.800> it<01:12:40.880> thank
right mate cool i appreciate it thank
you<01:12:41.120> so<01:12:41.280> much<01:12:41.520> if<01:12:41.679> you<01:12:41.840> are<01:12:42.000> joining<01:12:42.400> us<01:12:42.560> and
you so much if you are joining us and
you<01:12:42.800> have<01:12:42.880> stuck<01:12:43.280> all<01:12:43.440> the<01:12:43.520> way<01:12:43.679> through<01:12:43.920> this
you have stuck all the way through this
i<01:12:44.239> appreciate<01:12:44.640> you<01:12:44.880> too<01:12:45.440> if<01:12:45.520> you're<01:12:45.679> watching
i appreciate you too if you're watching
on<01:12:46.159> a<01:12:46.239> replay<01:12:46.960> appreciate<01:12:47.440> you<01:12:47.760> even<01:12:48.159> more<01:12:48.640> um
on a replay appreciate you even more um
if<01:12:49.040> you<01:12:49.120> haven't<01:12:49.280> subscribed<01:12:49.600> to<01:12:49.760> the<01:12:49.840> channel
if you haven't subscribed to the channel
subscribe<01:12:50.960> um<01:12:51.679> and<01:12:51.840> yeah<01:12:52.159> look<01:12:52.560> go<01:12:52.719> and<01:12:53.040> follow
twitter instagram and youtube as well
that<01:12:59.120> will<01:12:59.360> help<01:12:59.840> massively<01:13:00.640> but<01:13:00.800> yeah<01:13:00.960> i'll
that will help massively but yeah i'll
be<01:13:01.280> back<01:13:01.440> with<01:13:01.600> another<01:13:01.920> live<01:13:02.400> um<01:13:02.960> probably<01:13:03.280> on
i mean only for three i've got to travel
back<01:13:10.000> and<01:13:10.159> forth<01:13:10.400> from<01:13:10.480> london<01:13:10.800> i'm<01:13:10.960> staying
back and forth from london i'm staying
one<01:13:11.440> night<01:13:11.679> that<01:13:11.760> i've<01:13:11.920> got<01:13:12.000> to<01:13:12.080> come<01:13:12.320> back
one night that i've got to come back
again<01:13:12.800> for<01:13:12.960> another<01:13:13.360> for<01:13:13.520> another<01:13:13.760> meeting<01:13:14.480> on
lives might be a bit sparse but i have
been<01:13:18.800> i<01:13:18.880> have<01:13:19.120> been<01:13:19.360> trying<01:13:20.000> and<01:13:20.159> if<01:13:20.320> you<01:13:20.480> guys
different upload times um
to<01:13:25.040> kind<01:13:25.280> of<01:13:25.360> see<01:13:25.600> what<01:13:25.760> can<01:13:25.920> work<01:13:26.159> around<01:13:26.480> my
to kind of see what can work around my
schedule<01:13:27.360> in<01:13:27.440> the<01:13:27.600> new<01:13:27.760> year<01:13:28.480> so<01:13:29.040> um
schedule in the new year so um
videos<01:13:30.239> this<01:13:30.400> week<01:13:30.719> will<01:13:30.880> be<01:13:31.040> there<01:13:31.440> there
videos this week will be there there
will<01:13:31.679> be<01:13:31.840> some<01:13:32.080> lives<01:13:32.400> as<01:13:32.560> well<01:13:33.120> but<01:13:33.360> just<01:13:33.760> keep
will be some lives as well but just keep
an<01:13:34.159> eye<01:13:34.320> i<01:13:34.400> will<01:13:34.560> sign<01:13:34.800> post<01:13:35.120> them<01:13:35.360> i<01:13:35.520> do<01:13:35.760> have
an eye i will sign post them i do have
andy<01:13:36.400> webb<01:13:36.880> who<01:13:37.120> is<01:13:37.280> from<01:13:37.679> uh<01:13:37.920> be<01:13:38.080> clever<01:13:38.400> with
andy webb who is from uh be clever with
your<01:13:38.719> cash<01:13:39.600> on<01:13:39.760> the<01:13:39.920> show<01:13:40.239> on<01:13:40.400> the<01:13:40.880> 10th<01:13:41.199> of
your cash on the show on the 10th of
november<01:13:42.080> he's<01:13:42.400> going<01:13:42.480> to<01:13:42.560> be<01:13:42.719> giving<01:13:43.040> some
november he's going to be giving some
money<01:13:43.600> tips<01:13:43.920> around<01:13:44.400> maybe<01:13:44.640> some<01:13:44.800> of<01:13:44.880> the<01:13:44.960> key
money tips around maybe some of the key
offers<01:13:45.440> that<01:13:45.520> you<01:13:45.600> might<01:13:45.760> be<01:13:45.840> able<01:13:45.920> to<01:13:46.000> take
offers that you might be able to take
advantage<01:13:47.120> of<01:13:47.679> in<01:13:47.840> the<01:13:47.920> run-up<01:13:48.239> to<01:13:48.400> christmas
and some other good money-saving tips
and<01:13:51.360> all<01:13:51.440> this<01:13:51.600> kind<01:13:51.760> of<01:13:51.840> stuff<01:13:52.080> he<01:13:52.159> did<01:13:52.320> a
and all this kind of stuff he did a
great<01:13:52.719> piece<01:13:53.040> on<01:13:53.199> um<01:13:53.760> sky<01:13:54.080> glass<01:13:54.400> and<01:13:54.480> whether
great piece on um sky glass and whether
someone<01:13:54.960> should<01:13:55.199> actually<01:13:55.360> go<01:13:55.520> get<01:13:55.679> it<01:13:55.840> or<01:13:55.920> not
someone should actually go get it or not
i've<01:13:56.640> decided<01:13:56.960> not<01:13:57.120> to<01:13:57.199> go<01:13:57.360> get<01:13:57.520> it<01:13:57.600> because
i've decided not to go get it because
it's<01:13:57.920> not<01:13:58.080> worth<01:13:58.320> it<01:13:58.880> um<01:13:59.679> so<01:14:00.000> yeah<01:14:00.159> he's<01:14:00.400> going
it's not worth it um so yeah he's going
to<01:14:00.560> be<01:14:00.640> on<01:14:00.800> november<01:14:01.280> 10th<01:14:01.760> but<01:14:01.920> i<01:14:02.080> appreciate
to be on november 10th but i appreciate
you<01:14:03.120> um<01:14:03.440> have<01:14:03.840> a<01:14:03.920> good<01:14:04.239> evening<01:14:04.640> whatever<01:14:04.960> it
you um have a good evening whatever it
is<01:14:05.199> you<01:14:05.280> do<01:14:05.520> and<01:14:05.600> gary<01:14:06.000> thanks<01:14:06.239> again<01:14:06.480> mate