last<00:00:00.399> year<00:00:00.719> these<00:00:00.960> guys<00:00:01.199> printed<00:00:01.560> 450<00:00:02.639> billion

last year these guys printed 450 billion

last year these guys printed 450 billion pounds

pounds

pounds that's<00:00:04.000> nearly<00:00:04.400> 10<00:00:04.720> 000<00:00:04.960> pounds<00:00:05.359> for<00:00:05.600> every

that's nearly 10 000 pounds for every

that's nearly 10 000 pounds for every adult<00:00:06.399> in<00:00:06.480> the<00:00:06.560> country

adult in the country

adult in the country that<00:00:07.359> money<00:00:07.680> could<00:00:07.839> be<00:00:07.919> about<00:00:08.160> to<00:00:08.240> make<00:00:08.480> you

that money could be about to make you

that money could be about to make you and<00:00:08.720> your<00:00:08.880> family<00:00:09.200> poorer

and your family poorer

and your family poorer i'm<00:00:10.400> going<00:00:10.480> to<00:00:10.559> explain<00:00:10.960> to<00:00:11.040> you<00:00:11.280> what's

i'm going to explain to you what's

i'm going to explain to you what's happening<00:00:12.080> and<00:00:12.240> how<00:00:12.400> to<00:00:12.480> protect<00:00:12.880> ourselves

happening and how to protect ourselves

happening and how to protect ourselves the<00:00:14.160> first<00:00:14.320> thing<00:00:14.480> you<00:00:14.559> need<00:00:14.719> to<00:00:14.799> understand

the first thing you need to understand

the first thing you need to understand is<00:00:15.759> these<00:00:16.080> guys<00:00:16.640> make

is these guys make

is these guys make money<00:00:17.840> i'm<00:00:18.000> not<00:00:18.160> talking<00:00:18.480> about<00:00:18.880> jay-z<00:00:19.439> floyd

money i'm not talking about jay-z floyd

money i'm not talking about jay-z floyd mayweather<00:00:20.320> richard<00:00:20.640> branson<00:00:21.039> make<00:00:21.199> money

mayweather richard branson make money

mayweather richard branson make money this<00:00:22.080> is<00:00:22.160> the<00:00:22.240> only<00:00:22.560> place<00:00:22.880> in<00:00:23.039> the<00:00:23.119> whole

this is the only place in the whole

this is the only place in the whole world<00:00:23.600> where<00:00:23.760> they're<00:00:23.920> literally<00:00:24.480> legally

world where they're literally legally

world where they're literally legally allowed

allowed

allowed to<00:00:26.000> create<00:00:26.800> british<00:00:27.119> banknotes<00:00:27.920> now<00:00:28.160> nowadays

to create british banknotes now nowadays

to create british banknotes now nowadays most<00:00:29.279> money<00:00:29.599> is<00:00:29.760> electronic<00:00:30.560> so<00:00:30.720> when<00:00:30.880> we<00:00:30.960> talk

most money is electronic so when we talk

most money is electronic so when we talk about<00:00:31.439> printing<00:00:31.920> money

about printing money

about printing money it's<00:00:32.800> mostly<00:00:33.360> not<00:00:33.680> literal<00:00:34.079> physical

it's mostly not literal physical

it's mostly not literal physical printing<00:00:34.800> of<00:00:34.880> banknotes

printing of banknotes

printing of banknotes but<00:00:35.920> these<00:00:36.160> guys<00:00:36.399> are<00:00:36.559> also<00:00:36.960> the<00:00:37.040> only<00:00:37.280> guys<00:00:37.440> in

but these guys are also the only guys in

but these guys are also the only guys in the<00:00:37.600> world<00:00:37.840> who<00:00:38.000> are<00:00:38.079> allowed<00:00:38.399> to<00:00:38.640> credit

the world who are allowed to credit

the world who are allowed to credit their<00:00:39.440> own<00:00:39.840> bank<00:00:40.079> account<00:00:40.879> okay<00:00:41.120> you<00:00:41.280> might<00:00:41.440> be

their own bank account okay you might be

their own bank account okay you might be wondering

wondering

wondering who's<00:00:42.559> this<00:00:42.719> guy<00:00:43.120> why<00:00:43.360> should<00:00:43.520> you<00:00:43.520> listen<00:00:43.760> to

who's this guy why should you listen to

who's this guy why should you listen to me<00:00:44.640> well<00:00:44.879> i've<00:00:45.039> been<00:00:45.200> betting<00:00:45.520> on<00:00:45.680> the

me well i've been betting on the

me well i've been betting on the consequences<00:00:46.480> of<00:00:46.640> money<00:00:46.879> printing<00:00:47.120> for<00:00:47.280> the

consequences of money printing for the

consequences of money printing for the last<00:00:47.600> 10<00:00:47.760> years<00:00:48.079> and<00:00:48.239> i've<00:00:48.320> made<00:00:48.480> millions<00:00:48.800> of

last 10 years and i've made millions of

last 10 years and i've made millions of pounds<00:00:49.120> doing<00:00:49.360> it

pounds doing it

pounds doing it so<00:00:50.800> i<00:00:50.960> know<00:00:51.120> i'm<00:00:51.199> talking<00:00:51.440> about<00:00:52.719> now<00:00:52.879> what

so i know i'm talking about now what

so i know i'm talking about now what happened<00:00:53.360> last<00:00:53.600> year<00:00:53.920> is<00:00:54.079> not<00:00:54.239> normal

happened last year is not normal

happened last year is not normal it's<00:00:55.120> not<00:00:55.360> normal<00:00:55.680> for<00:00:55.840> these<00:00:56.000> guys<00:00:56.239> to<00:00:56.399> print

it's not normal for these guys to print

it's not normal for these guys to print this<00:00:56.960> huge<00:00:57.199> amount<00:00:57.440> of<00:00:57.520> money

this huge amount of money

this huge amount of money now<00:00:58.160> these<00:00:58.399> guys<00:00:58.559> were<00:00:58.719> made<00:00:58.879> independent

now these guys were made independent

now these guys were made independent back<00:00:59.520> in<00:00:59.600> 1998<00:01:00.879> the<00:01:01.120> idea<00:01:01.520> was

back in 1998 the idea was

back in 1998 the idea was that<00:01:02.239> governments<00:01:02.960> shouldn't<00:01:03.280> have<00:01:03.520> the

that governments shouldn't have the

that governments shouldn't have the ability<00:01:04.000> to<00:01:04.159> control<00:01:04.960> what<00:01:05.119> the<00:01:05.199> economists

ability to control what the economists

ability to control what the economists in<00:01:05.760> this<00:01:05.920> building<00:01:06.240> are<00:01:06.320> doing<00:01:06.479> with<00:01:06.640> the

in this building are doing with the

in this building are doing with the money<00:01:06.960> supply

money supply

money supply but<00:01:08.080> last<00:01:08.400> year<00:01:08.960> the<00:01:09.040> amount<00:01:09.280> of<00:01:09.360> money

but last year the amount of money

but last year the amount of money printed<00:01:09.920> here<00:01:10.400> matched<00:01:10.799> almost<00:01:11.200> exactly

printed here matched almost exactly

printed here matched almost exactly pound<00:01:12.080> per<00:01:12.240> pound<00:01:12.560> in<00:01:12.720> every<00:01:13.040> single<00:01:13.280> month

pound per pound in every single month

pound per pound in every single month the<00:01:13.840> amount<00:01:14.159> of<00:01:14.240> money<00:01:14.479> which<00:01:14.640> the<00:01:14.720> government

the amount of money which the government

the amount of money which the government used<00:01:15.759> to<00:01:15.920> support<00:01:16.240> the<00:01:16.320> covert<00:01:16.640> crisis

used to support the covert crisis

used to support the covert crisis i<00:01:17.600> cannot<00:01:17.920> explain<00:01:18.320> to<00:01:18.400> you<00:01:18.560> how<00:01:18.799> not<00:01:19.119> normal

i cannot explain to you how not normal

i cannot explain to you how not normal this<00:01:19.759> is

this is

this is what<00:01:20.640> this<00:01:20.880> means<00:01:21.200> is<00:01:21.520> everything<00:01:21.920> the

what this means is everything the

what this means is everything the government<00:01:22.320> did<00:01:22.479> last<00:01:22.720> year<00:01:23.280> the<00:01:23.439> furlough

government did last year the furlough

government did last year the furlough scheme

scheme

scheme eat<00:01:24.640> out<00:01:24.799> to<00:01:24.880> help<00:01:25.200> out<00:01:25.520> support<00:01:25.759> for

eat out to help out support for

eat out to help out support for self-employed<00:01:26.479> people<00:01:26.720> businesses

self-employed people businesses

self-employed people businesses every<00:01:28.159> single<00:01:28.400> pound<00:01:28.640> of<00:01:28.720> that<00:01:28.880> money<00:01:29.520> came

every single pound of that money came

every single pound of that money came from<00:01:29.840> the<00:01:29.920> bank<00:01:30.159> of<00:01:30.320> england

from the bank of england

from the bank of england newly<00:01:31.680> printed<00:01:32.240> money<00:01:33.360> that<00:01:33.600> is<00:01:33.759> not<00:01:34.000> normally

newly printed money that is not normally

newly printed money that is not normally how<00:01:35.040> financing<00:01:35.600> works<00:01:36.720> this<00:01:36.960> changes

how financing works this changes

how financing works this changes everything<00:01:38.079> and<00:01:38.240> it's<00:01:38.320> going<00:01:38.479> to<00:01:38.560> dominate

everything and it's going to dominate

everything and it's going to dominate what<00:01:39.200> happens<00:01:39.600> in<00:01:39.680> the<00:01:39.759> next

what happens in the next

what happens in the next 10<00:01:40.159> years<00:01:41.600> now<00:01:41.840> normally<00:01:42.479> the<00:01:42.640> governments

10 years now normally the governments

10 years now normally the governments get<00:01:43.200> the<00:01:43.280> money<00:01:43.520> they're<00:01:43.759> suspending

get the money they're suspending

get the money they're suspending from<00:01:44.799> borrowing<00:01:45.520> or<00:01:45.759> taxing<00:01:46.880> but<00:01:47.119> this<00:01:47.360> time

from borrowing or taxing but this time

from borrowing or taxing but this time it's<00:01:48.159> purely<00:01:48.560> being<00:01:48.799> printed<00:01:49.119> by<00:01:49.280> the<00:01:49.360> bank<00:01:49.520> of

it's purely being printed by the bank of

it's purely being printed by the bank of england<00:01:50.000> and<00:01:50.159> lent<00:01:50.399> to<00:01:50.479> the<00:01:50.560> government

england and lent to the government

england and lent to the government now<00:01:52.000> the<00:01:52.159> government<00:01:52.640> owns<00:01:52.960> the<00:01:53.040> bank<00:01:53.280> of

now the government owns the bank of

now the government owns the bank of england<00:01:54.000> so<00:01:54.159> when<00:01:54.320> the<00:01:54.399> bank<00:01:54.640> of<00:01:54.720> england

england so when the bank of england

england so when the bank of england prints<00:01:55.280> money

prints money

prints money and<00:01:55.920> lends<00:01:56.159> it<00:01:56.240> to<00:01:56.320> the<00:01:56.479> government<00:01:57.200> this<00:01:57.439> is

and lends it to the government this is

and lends it to the government this is the<00:01:57.680> government<00:01:58.079> lending<00:01:58.399> money<00:01:58.640> to<00:01:58.799> itself

the government lending money to itself

the government lending money to itself the<00:02:00.240> debate<00:02:00.560> about<00:02:00.880> when<00:02:01.119> or<00:02:01.280> how<00:02:01.520> we<00:02:01.680> pay<00:02:01.840> the

the debate about when or how we pay the

the debate about when or how we pay the debt<00:02:02.159> back<00:02:02.399> is<00:02:02.560> totally<00:02:02.880> irrelevant

debt back is totally irrelevant

debt back is totally irrelevant because<00:02:03.680> the<00:02:03.840> government<00:02:04.159> is<00:02:04.320> borrowing<00:02:04.719> the

because the government is borrowing the

because the government is borrowing the money<00:02:05.439> from<00:02:05.680> itself

money from itself

money from itself this<00:02:06.799> changes<00:02:07.119> the<00:02:07.280> way<00:02:07.439> that<00:02:07.600> countries<00:02:07.920> deal

this changes the way that countries deal

this changes the way that countries deal with<00:02:08.319> economic<00:02:08.640> crises<00:02:09.440> in<00:02:09.599> the<00:02:09.679> past<00:02:10.000> it's<00:02:10.160> a

with economic crises in the past it's a

with economic crises in the past it's a question<00:02:10.560> of<00:02:10.720> austerity

question of austerity

question of austerity should<00:02:11.760> we<00:02:11.920> raise<00:02:12.160> taxation<00:02:13.120> but<00:02:13.280> now<00:02:13.520> crisis

should we raise taxation but now crisis

should we raise taxation but now crisis is<00:02:14.000> being<00:02:14.239> dealt<00:02:14.400> with

is being dealt with

is being dealt with purely<00:02:15.280> through<00:02:15.440> monetary<00:02:15.920> printing<00:02:16.640> this

purely through monetary printing this

purely through monetary printing this sounds<00:02:17.120> like<00:02:17.599> a<00:02:17.760> free<00:02:18.000> lunch

sounds like a free lunch

sounds like a free lunch but<00:02:18.720> it's<00:02:18.879> going<00:02:19.040> to<00:02:19.120> cause<00:02:19.360> problems<00:02:20.480> you

but it's going to cause problems you

but it's going to cause problems you need<00:02:20.800> to<00:02:20.879> understand<00:02:21.360> that

need to understand that

need to understand that if<00:02:21.840> you<00:02:21.920> want<00:02:22.000> to<00:02:22.080> protect<00:02:22.319> your<00:02:22.480> position

if you want to protect your position

if you want to protect your position okay<00:02:23.599> so<00:02:23.760> if<00:02:23.840> the<00:02:23.920> government<00:02:24.239> there<00:02:24.400> isn't<00:02:24.640> a

okay so if the government there isn't a

okay so if the government there isn't a problem

problem

problem and<00:02:25.599> we<00:02:25.760> don't<00:02:25.920> need<00:02:26.080> to<00:02:26.160> do<00:02:26.239> austerity<00:02:26.800> or

and we don't need to do austerity or

and we don't need to do austerity or raise<00:02:27.120> taxes<00:02:27.920> then<00:02:28.160> it<00:02:28.239> sounds<00:02:28.480> like<00:02:28.560> the

raise taxes then it sounds like the

raise taxes then it sounds like the perfect<00:02:28.959> situation<00:02:29.520> right

perfect situation right

perfect situation right so<00:02:30.400> what<00:02:30.480> do<00:02:30.560> you<00:02:30.640> need<00:02:30.720> to<00:02:30.800> worry<00:02:31.040> about<00:02:32.319> the

so what do you need to worry about the

so what do you need to worry about the problem<00:02:32.879> is

problem is

problem is there's<00:02:33.519> been<00:02:33.680> a<00:02:34.080> massive<00:02:34.959> massive<00:02:35.360> increase

there's been a massive massive increase

there's been a massive massive increase in<00:02:35.840> the<00:02:36.000> amount<00:02:36.239> of<00:02:36.400> cash<00:02:36.640> in<00:02:36.800> the<00:02:36.879> economy

in the amount of cash in the economy

in the amount of cash in the economy if<00:02:38.480> you're<00:02:38.720> not<00:02:38.800> getting<00:02:39.040> that<00:02:39.200> money<00:02:39.840> you

if you're not getting that money you

if you're not getting that money you need<00:02:40.160> to<00:02:40.319> ask<00:02:40.560> yourself<00:02:41.120> who's<00:02:41.360> getting<00:02:41.680> it

need to ask yourself who's getting it

need to ask yourself who's getting it all<00:02:42.720> of<00:02:42.879> the<00:02:42.959> data<00:02:43.519> including<00:02:43.920> data<00:02:44.160> collected

all of the data including data collected

all of the data including data collected by<00:02:44.720> these<00:02:44.879> guys<00:02:45.120> at<00:02:45.200> the<00:02:45.280> bank<00:02:45.519> of<00:02:45.599> england

by these guys at the bank of england

by these guys at the bank of england is<00:02:46.480> showing<00:02:46.800> that<00:02:46.879> the<00:02:46.959> vast<00:02:47.200> majority<00:02:47.519> of

is showing that the vast majority of

is showing that the vast majority of that<00:02:47.760> money<00:02:48.239> has<00:02:48.480> ended<00:02:48.720> up<00:02:48.800> in<00:02:48.879> the<00:02:48.959> bank

that money has ended up in the bank

that money has ended up in the bank accounts<00:02:49.440> of<00:02:49.599> richer<00:02:49.920> people

accounts of richer people

accounts of richer people now<00:02:51.040> that<00:02:51.200> money<00:02:51.440> is<00:02:51.519> not<00:02:51.680> just<00:02:51.840> going<00:02:52.000> to<00:02:52.080> sit

now that money is not just going to sit

now that money is not just going to sit there<00:02:52.879> in<00:02:53.040> the<00:02:53.120> early<00:02:53.360> stages<00:02:53.599> of<00:02:53.680> the<00:02:53.840> crisis

there in the early stages of the crisis

there in the early stages of the crisis they<00:02:54.560> might<00:02:54.800> be<00:02:54.879> happy<00:02:55.200> to<00:02:55.360> build<00:02:55.519> bigger<00:02:55.760> and

they might be happy to build bigger and

they might be happy to build bigger and bigger<00:02:56.080> piles<00:02:56.319> of<00:02:56.480> cash<00:02:57.120> but<00:02:57.280> eventually

bigger piles of cash but eventually

bigger piles of cash but eventually they're<00:02:58.159> going<00:02:58.319> to<00:02:58.400> start<00:02:58.640> using<00:02:58.959> it<00:02:59.360> they're

they're going to start using it they're

they're going to start using it they're going<00:02:59.680> to<00:02:59.680> use<00:02:59.840> to<00:03:00.000> buy<00:03:00.239> things<00:03:00.879> like<00:03:01.120> assets

going to use to buy things like assets

going to use to buy things like assets houses<00:03:02.720> stocks<00:03:03.120> and<00:03:03.200> shares<00:03:03.760> holidays<00:03:04.800> going

houses stocks and shares holidays going

houses stocks and shares holidays going to<00:03:05.200> restaurants

to restaurants

to restaurants they're<00:03:06.480> going<00:03:06.560> to<00:03:06.720> use<00:03:06.879> that<00:03:07.040> money<00:03:07.760> to<00:03:07.920> buy

they're going to use that money to buy

they're going to use that money to buy things<00:03:08.400> that<00:03:08.480> you<00:03:08.720> and<00:03:08.800> your<00:03:08.959> family<00:03:09.280> need

things that you and your family need

things that you and your family need and<00:03:09.840> it's<00:03:09.920> going<00:03:10.080> to<00:03:10.159> push<00:03:10.480> up<00:03:10.640> the<00:03:10.800> prices<00:03:11.200> of

and it's going to push up the prices of

and it's going to push up the prices of those<00:03:11.519> things<00:03:12.319> what<00:03:12.480> this<00:03:12.800> huge<00:03:13.120> amount<00:03:13.440> of

those things what this huge amount of

those things what this huge amount of money<00:03:13.760> printing<00:03:14.080> amounts<00:03:14.480> to

money printing amounts to

money printing amounts to is<00:03:15.200> a<00:03:15.360> massive<00:03:15.760> devaluation<00:03:16.480> in<00:03:16.640> the<00:03:16.800> value<00:03:17.120> of

is a massive devaluation in the value of

is a massive devaluation in the value of money

money

money now<00:03:18.319> who<00:03:18.480> is<00:03:18.640> that<00:03:18.720> going<00:03:18.879> to<00:03:19.040> affect<00:03:19.440> who<00:03:19.599> is

now who is that going to affect who is

now who is that going to affect who is that<00:03:19.840> going<00:03:19.920> to<00:03:20.080> hurt<00:03:20.800> well<00:03:21.040> firstly

that going to hurt well firstly

that going to hurt well firstly it's<00:03:21.920> going<00:03:22.080> to<00:03:22.159> hurt<00:03:22.400> ordinary<00:03:22.800> working

it's going to hurt ordinary working

it's going to hurt ordinary working people<00:03:23.599> who<00:03:23.760> receives<00:03:24.159> a<00:03:24.319> fixed

people who receives a fixed

people who receives a fixed monetary<00:03:25.920> salary<00:03:26.319> every<00:03:26.560> month<00:03:27.440> and<00:03:27.680> secondly

monetary salary every month and secondly

monetary salary every month and secondly it's<00:03:28.480> going<00:03:28.640> to<00:03:28.720> hurt<00:03:28.959> people<00:03:29.120> who've<00:03:29.280> kept

it's going to hurt people who've kept

it's going to hurt people who've kept their<00:03:29.680> life<00:03:29.920> savings<00:03:30.319> in<00:03:30.480> cash<00:03:30.799> and<00:03:30.959> are<00:03:31.120> about

their life savings in cash and are about

their life savings in cash and are about to<00:03:31.440> lose<00:03:31.760> a<00:03:31.920> massive<00:03:32.239> chunk<00:03:32.480> of<00:03:32.560> what<00:03:32.720> that<00:03:32.799> is

to lose a massive chunk of what that is

to lose a massive chunk of what that is worth

worth

worth the<00:03:34.319> fact<00:03:34.640> is<00:03:35.120> it's<00:03:35.360> mainly<00:03:35.760> poor<00:03:36.000> and

the fact is it's mainly poor and

the fact is it's mainly poor and ordinary<00:03:36.480> people<00:03:36.720> who<00:03:36.799> are<00:03:36.879> going<00:03:37.040> to<00:03:37.120> get

ordinary people who are going to get

ordinary people who are going to get hurt<00:03:37.519> here

hurt here

hurt here because<00:03:38.400> i<00:03:38.560> know<00:03:38.799> these<00:03:39.040> people<00:03:39.360> are<00:03:39.440> used<00:03:39.599> to

because i know these people are used to

because i know these people are used to thinking<00:03:40.080> cash<00:03:40.319> is<00:03:40.480> the<00:03:40.560> safest<00:03:40.959> thing

thinking cash is the safest thing

thinking cash is the safest thing keep<00:03:41.680> your<00:03:41.840> money<00:03:42.080> in<00:03:42.159> cash<00:03:42.400> keep<00:03:42.560> your<00:03:42.640> money

keep your money in cash keep your money

keep your money in cash keep your money in<00:03:42.959> cash<00:03:43.280> and<00:03:43.360> these<00:03:43.599> are<00:03:43.680> the<00:03:43.840> people<00:03:44.400> that

in cash and these are the people that

in cash and these are the people that don't<00:03:44.799> have<00:03:45.040> massive<00:03:45.440> stock<00:03:45.680> and<00:03:45.760> share

don't have massive stock and share

don't have massive stock and share portfolios<00:03:46.560> or<00:03:46.640> property<00:03:46.879> portfolios<00:03:47.519> look

portfolios or property portfolios look

portfolios or property portfolios look if<00:03:49.040> that's<00:03:49.360> you<00:03:49.760> you<00:03:49.920> need<00:03:50.000> to<00:03:50.080> know<00:03:50.239> what<00:03:50.319> you

if that's you you need to know what you

if that's you you need to know what you need<00:03:50.480> to<00:03:50.560> do<00:03:50.720> here<00:03:50.879> at<00:03:51.120> i<00:03:51.280> know<00:03:51.519> that<00:03:51.840> you're

need to do here at i know that you're

need to do here at i know that you're used<00:03:52.239> to<00:03:52.319> holding<00:03:52.560> cash<00:03:52.799> by<00:03:52.959> it's<00:03:53.040> not<00:03:53.280> safe

used to holding cash by it's not safe

used to holding cash by it's not safe now

now

now if<00:03:54.159> it's<00:03:54.319> possible<00:03:54.959> you<00:03:55.120> should<00:03:55.280> move<00:03:55.439> that

if it's possible you should move that

if it's possible you should move that into<00:03:55.760> other<00:03:56.000> assets<00:03:56.319> like<00:03:56.560> stocks<00:03:56.879> and<00:03:57.040> shares

into other assets like stocks and shares

into other assets like stocks and shares and<00:03:57.519> gold

and gold

and gold and<00:03:58.879> if<00:03:59.040> you've<00:03:59.200> got<00:03:59.360> a<00:03:59.439> property<00:03:59.920> and<00:04:00.000> you're

and if you've got a property and you're

and if you've got a property and you're thinking<00:04:00.400> about<00:04:00.640> selling<00:04:00.959> it

thinking about selling it

thinking about selling it you<00:04:01.920> need<00:04:02.080> to<00:04:02.159> think<00:04:02.640> in<00:04:02.799> future<00:04:03.120> generations

you need to think in future generations

you need to think in future generations it's<00:04:04.319> going<00:04:04.480> to<00:04:04.560> be<00:04:04.799> super<00:04:05.120> difficult<00:04:05.439> for

it's going to be super difficult for

it's going to be super difficult for ordinary<00:04:06.080> people<00:04:06.319> to<00:04:06.480> buy<00:04:06.720> property

ordinary people to buy property

ordinary people to buy property and<00:04:07.360> if<00:04:07.519> you're<00:04:07.599> a<00:04:07.680> younger<00:04:08.000> person<00:04:08.239> who<00:04:08.400> is

and if you're a younger person who is

and if you're a younger person who is fortunate<00:04:08.799> enough<00:04:08.879> to<00:04:08.959> have<00:04:09.120> a<00:04:09.200> way<00:04:09.360> to<00:04:09.439> get<00:04:09.599> a

fortunate enough to have a way to get a

fortunate enough to have a way to get a property

property

property you<00:04:11.040> should<00:04:11.200> get<00:04:11.360> that<00:04:11.519> because<00:04:11.760> that<00:04:11.920> is<00:04:12.000> the

you should get that because that is the

you should get that because that is the kind<00:04:12.319> of<00:04:12.400> security<00:04:12.879> which<00:04:13.040> 10<00:04:13.280> 20<00:04:13.519> years<00:04:13.599> down

kind of security which 10 20 years down

kind of security which 10 20 years down the<00:04:13.920> line<00:04:14.159> is<00:04:14.239> going<00:04:14.319> to<00:04:14.400> be<00:04:14.560> impossible<00:04:15.120> for

the line is going to be impossible for

the line is going to be impossible for ordinary<00:04:15.760> people

ordinary people

ordinary people to<00:04:16.479> get<00:04:16.799> i<00:04:16.880> know<00:04:17.040> there's<00:04:17.199> going<00:04:17.280> to<00:04:17.359> be<00:04:17.519> people

to get i know there's going to be people

to get i know there's going to be people watching<00:04:17.919> this<00:04:18.079> video<00:04:18.479> saying

watching this video saying

watching this video saying there<00:04:19.600> is<00:04:19.759> no<00:04:19.919> way<00:04:20.239> that<00:04:20.400> me<00:04:20.560> and<00:04:20.639> my<00:04:20.799> family

there is no way that me and my family

there is no way that me and my family can<00:04:22.240> buy<00:04:22.400> a<00:04:22.479> house

can buy a house

can buy a house listen<00:04:23.520> i<00:04:23.759> come<00:04:23.919> from<00:04:24.080> that<00:04:24.240> kind<00:04:24.400> of

listen i come from that kind of

listen i come from that kind of background<00:04:24.880> here<00:04:25.280> i<00:04:25.440> know<00:04:25.680> how<00:04:25.840> difficult<00:04:26.240> it

background here i know how difficult it

background here i know how difficult it is

is

is for<00:04:26.800> people<00:04:26.960> from<00:04:27.199> ordinary<00:04:27.600> families<00:04:28.000> to<00:04:28.080> do

for people from ordinary families to do

for people from ordinary families to do that<00:04:29.120> we<00:04:29.280> need<00:04:29.440> to<00:04:29.600> address<00:04:29.840> the<00:04:30.000> fact<00:04:30.240> that

that we need to address the fact that

that we need to address the fact that most<00:04:31.280> families<00:04:31.680> here<00:04:32.080> are<00:04:32.240> not<00:04:32.400> going<00:04:32.560> to<00:04:32.639> be

most families here are not going to be

most families here are not going to be in<00:04:32.800> a<00:04:32.880> situation<00:04:33.440> to<00:04:33.600> protect<00:04:33.919> themselves

in a situation to protect themselves

in a situation to protect themselves from<00:04:34.400> what's<00:04:34.560> happening

from what's happening

from what's happening if<00:04:35.600> house<00:04:35.840> prices<00:04:36.240> double<00:04:37.040> stock<00:04:37.360> prices

if house prices double stock prices

if house prices double stock prices double<00:04:38.080> and<00:04:38.160> treble

double and treble

double and treble how<00:04:39.600> are<00:04:39.680> ordinary<00:04:40.240> people<00:04:40.479> going<00:04:40.639> to<00:04:40.720> protect

how are ordinary people going to protect

how are ordinary people going to protect their<00:04:41.199> ability<00:04:41.600> to<00:04:41.759> access<00:04:42.080> housing

their ability to access housing

their ability to access housing we<00:04:43.680> need<00:04:43.840> to<00:04:43.919> face<00:04:44.160> the<00:04:44.320> facts<00:04:44.639> if<00:04:44.800> this

we need to face the facts if this

we need to face the facts if this happens<00:04:45.680> and<00:04:45.919> i'm<00:04:46.000> confident<00:04:46.479> it's<00:04:46.639> going<00:04:46.800> to

happens and i'm confident it's going to

happens and i'm confident it's going to happen

happen

happen a<00:04:48.240> huge<00:04:48.560> number<00:04:48.800> of<00:04:48.960> families<00:04:50.000> in<00:04:50.160> this

a huge number of families in this

a huge number of families in this country<00:04:51.040> are<00:04:51.120> going<00:04:51.280> to<00:04:51.360> have<00:04:51.680> no<00:04:51.919> way<00:04:52.080> to

country are going to have no way to

country are going to have no way to access<00:04:52.479> secure<00:04:52.720> housing<00:04:53.040> in<00:04:53.120> the<00:04:53.199> future

access secure housing in the future

access secure housing in the future what<00:04:54.560> can<00:04:54.720> we<00:04:54.800> do<00:04:54.960> about<00:04:55.280> that<00:04:55.759> the<00:04:56.000> only<00:04:56.160> way

what can we do about that the only way

what can we do about that the only way we're<00:04:56.479> going<00:04:56.560> to<00:04:56.639> fix<00:04:56.880> that

we're going to fix that

we're going to fix that is<00:04:57.600> to<00:04:57.759> deal<00:04:57.919> with<00:04:58.080> the<00:04:58.320> actual<00:04:58.880> underlying

is to deal with the actual underlying

is to deal with the actual underlying fundamental<00:04:59.919> problem<00:05:00.240> of<00:05:00.320> the<00:05:00.400> culvert

fundamental problem of the culvert

fundamental problem of the culvert crisis

crisis

crisis which<00:05:02.080> is<00:05:02.160> that<00:05:02.400> is<00:05:02.720> massively<00:05:03.360> increased

which is that is massively increased

which is that is massively increased inequality<00:05:04.160> in<00:05:04.240> this<00:05:04.400> country

inequality in this country

inequality in this country on<00:05:05.280> top<00:05:05.440> of<00:05:05.600> a<00:05:05.680> decade<00:05:06.080> of<00:05:06.240> already<00:05:06.560> hugely

on top of a decade of already hugely

on top of a decade of already hugely increasing<00:05:07.280> inequality

increasing inequality

increasing inequality if<00:05:08.800> we<00:05:08.880> don't<00:05:09.039> do<00:05:09.120> anything<00:05:09.360> about<00:05:09.600> that<00:05:10.320> there

if we don't do anything about that there

if we don't do anything about that there is<00:05:10.639> no<00:05:10.880> way

is no way

is no way we're<00:05:11.840> going<00:05:12.000> to<00:05:12.080> fix<00:05:12.240> the<00:05:12.320> housing<00:05:12.639> problem

we're going to fix the housing problem

we're going to fix the housing problem [Music]

[Music]

[Music] there<00:05:15.600> is<00:05:15.680> an<00:05:15.840> alternative<00:05:16.320> here<00:05:17.199> it's<00:05:17.360> not

there is an alternative here it's not

there is an alternative here it's not simply<00:05:17.919> a<00:05:18.000> question<00:05:18.320> of

simply a question of

simply a question of austerity<00:05:19.600> or<00:05:20.000> doubling<00:05:20.400> house<00:05:20.639> prices

austerity or doubling house prices

austerity or doubling house prices there's<00:05:21.680> a<00:05:21.759> group<00:05:22.000> of<00:05:22.080> people

there's a group of people

there's a group of people who<00:05:22.960> are<00:05:23.039> making<00:05:23.440> a<00:05:23.600> ton<00:05:23.759> of<00:05:23.840> money<00:05:24.080> off<00:05:24.240> of

who are making a ton of money off of

who are making a ton of money off of this<00:05:24.960> when<00:05:25.120> house<00:05:25.360> prices<00:05:25.759> double<00:05:26.080> and<00:05:26.160> stock

this when house prices double and stock

this when house prices double and stock prices<00:05:26.800> treble

prices treble

prices treble that<00:05:27.759> is<00:05:27.840> going<00:05:28.000> to<00:05:28.080> make<00:05:28.320> a<00:05:28.479> huge<00:05:28.720> amount<00:05:28.960> of

that is going to make a huge amount of

that is going to make a huge amount of money<00:05:29.520> for<00:05:29.680> the<00:05:29.840> super<00:05:30.160> rich<00:05:30.479> who<00:05:30.639> have

money for the super rich who have

money for the super rich who have millions<00:05:31.280> and<00:05:31.360> millions<00:05:31.840> in<00:05:32.000> stock<00:05:32.240> and

millions and millions in stock and

millions and millions in stock and property<00:05:32.639> portfolios

property portfolios

property portfolios at<00:05:34.160> the<00:05:34.240> moment<00:05:35.039> these<00:05:35.280> guys<00:05:35.520> are<00:05:35.680> profiting

at the moment these guys are profiting

at the moment these guys are profiting from<00:05:36.240> a<00:05:36.320> crisis

from a crisis

from a crisis that<00:05:37.360> is<00:05:37.440> going<00:05:37.520> to<00:05:37.600> keep<00:05:37.840> our<00:05:38.000> economy<00:05:38.479> in<00:05:38.560> a

that is going to keep our economy in a

that is going to keep our economy in a stump<00:05:38.800> for<00:05:38.960> 50<00:05:39.280> years

stump for 50 years

stump for 50 years the<00:05:40.639> only<00:05:40.800> way<00:05:41.120> we<00:05:41.280> can<00:05:41.360> prevent<00:05:41.680> an<00:05:41.840> economic

the only way we can prevent an economic

the only way we can prevent an economic disaster<00:05:42.720> here

disaster here

disaster here is<00:05:43.600> to<00:05:43.759> make<00:05:43.919> sure<00:05:44.320> we<00:05:44.400> start<00:05:44.639> taxing<00:05:45.039> the<00:05:45.120> rich

is to make sure we start taxing the rich

is to make sure we start taxing the rich i'm<00:05:46.720> out<00:05:46.800> here<00:05:46.960> working<00:05:47.280> on<00:05:47.360> this<00:05:47.520> every<00:05:47.759> day

i'm out here working on this every day

i'm out here working on this every day if<00:05:48.639> you<00:05:48.720> want<00:05:48.880> to<00:05:48.960> help<00:05:49.280> if<00:05:49.440> you<00:05:49.520> want<00:05:49.600> to<00:05:49.680> know

if you want to help if you want to know

if you want to help if you want to know more

more

more get<00:05:50.720> in<00:05:50.840> touch