all<00:00:01.199> right<00:00:01.599> good<00:00:01.839> morning<00:00:02.159> everybody<00:00:02.560> welcome

all right good morning everybody welcome

all right good morning everybody welcome back<00:00:03.120> to<00:00:03.360> the<00:00:03.520> conversational<00:00:04.000> money<00:00:04.240> podcast

back to the conversational money podcast

back to the conversational money podcast i<00:00:04.799> hope<00:00:04.960> you<00:00:05.120> guys<00:00:05.359> had<00:00:05.520> an<00:00:05.680> amazing<00:00:06.080> weekend

i hope you guys had an amazing weekend

i hope you guys had an amazing weekend so<00:00:06.720> this<00:00:06.960> is<00:00:07.040> going<00:00:07.120> to<00:00:07.200> be<00:00:07.279> a<00:00:07.359> second<00:00:07.680> week<00:00:07.839> in

so this is going to be a second week in

so this is going to be a second week in a<00:00:08.000> row<00:00:08.240> where<00:00:08.400> i've<00:00:08.480> had<00:00:08.639> a<00:00:08.720> guest<00:00:09.040> on<00:00:09.200> the<00:00:09.360> show

a row where i've had a guest on the show

a row where i've had a guest on the show and<00:00:10.800> for<00:00:11.040> this<00:00:11.280> particular<00:00:11.840> one<00:00:12.160> i<00:00:12.400> have

and for this particular one i have

and for this particular one i have someone<00:00:13.120> that

someone that

someone that requires<00:00:14.960> and<00:00:15.200> demands<00:00:15.759> your<00:00:16.160> attention<00:00:16.960> and

requires and demands your attention and

requires and demands your attention and when<00:00:17.440> i<00:00:17.600> say<00:00:17.760> that<00:00:18.000> i<00:00:18.240> mean<00:00:18.480> that<00:00:18.880> seriously

when i say that i mean that seriously

when i say that i mean that seriously he's<00:00:20.160> a<00:00:20.240> former<00:00:20.800> he's<00:00:21.119> a<00:00:21.199> former<00:00:21.600> trader

he's a former he's a former trader

he's a former he's a former trader in<00:00:22.880> london

in london

in london in<00:00:24.279> 2011<00:00:25.359> he<00:00:25.519> was<00:00:25.840> city's<00:00:26.880> most<00:00:27.119> profitable

in 2011 he was city's most profitable

in 2011 he was city's most profitable trader<00:00:28.720> globally<00:00:29.599> so<00:00:29.840> he<00:00:30.160> really<00:00:30.400> really<00:00:30.720> does

trader globally so he really really does

trader globally so he really really does know<00:00:31.199> his<00:00:31.439> stuff<00:00:32.160> he's<00:00:32.480> also<00:00:32.880> an<00:00:33.200> inequality

know his stuff he's also an inequality

know his stuff he's also an inequality economist<00:00:34.559> as<00:00:34.719> well

economist as well

economist as well so<00:00:36.079> i'm<00:00:36.320> going<00:00:36.399> to<00:00:36.480> introduce<00:00:36.800> him<00:00:36.960> in<00:00:37.200> a

so i'm going to introduce him in a

so i'm going to introduce him in a moment<00:00:37.600> but<00:00:37.760> we're<00:00:38.000> going<00:00:38.079> to<00:00:38.160> be<00:00:38.320> talking

moment but we're going to be talking

moment but we're going to be talking about<00:00:39.760> um<00:00:40.239> the<00:00:40.480> importance<00:00:41.040> of<00:00:41.200> building

about um the importance of building

about um the importance of building wealth<00:00:42.000> and<00:00:42.160> what<00:00:42.399> that<00:00:42.559> actually<00:00:43.040> means<00:00:43.520> i

wealth and what that actually means i

wealth and what that actually means i think<00:00:44.320> a<00:00:44.480> lot<00:00:44.640> of<00:00:44.719> the<00:00:44.800> time<00:00:45.039> in<00:00:45.120> society

think a lot of the time in society

think a lot of the time in society we

we

we misunderstand

misunderstand

misunderstand what<00:00:49.360> that<00:00:49.600> means<00:00:50.079> and<00:00:50.640> he<00:00:50.800> has<00:00:51.039> a<00:00:51.280> very<00:00:51.840> very

what that means and he has a very very

what that means and he has a very very unique<00:00:53.120> take<00:00:53.920> on<00:00:54.320> what<00:00:54.559> that<00:00:54.800> means

unique take on what that means

unique take on what that means especially<00:00:56.239> with<00:00:56.480> his<00:00:56.719> background<00:00:57.680> in<00:00:57.840> the

especially with his background in the

especially with his background in the world<00:00:58.480> of<00:00:58.640> trading<00:00:59.520> and<00:00:59.840> financial<00:01:00.239> services

world of trading and financial services

world of trading and financial services as<00:01:01.039> a<00:01:01.120> whole<00:01:01.680> so<00:01:01.920> it<00:01:02.160> is<00:01:02.320> my<00:01:02.640> great<00:01:02.960> great<00:01:03.280> great

as a whole so it is my great great great

as a whole so it is my great great great pleasure<00:01:04.239> to<00:01:04.720> welcome<00:01:05.199> gary<00:01:05.519> stevenson<00:01:06.080> gary

pleasure to welcome gary stevenson gary

pleasure to welcome gary stevenson gary welcome<00:01:06.720> mate

welcome mate

welcome mate thanks<00:01:08.159> very<00:01:08.320> much<00:01:08.479> peter<00:01:08.720> nice<00:01:08.960> to<00:01:09.119> uh<00:01:09.360> be<00:01:09.520> on

thanks very much peter nice to uh be on

thanks very much peter nice to uh be on the<00:01:09.760> show

the show

the show so<00:01:11.439> i<00:01:11.600> know<00:01:11.760> that<00:01:11.920> i've<00:01:12.080> given<00:01:12.400> a<00:01:12.479> very<00:01:12.640> brief

so i know that i've given a very brief

so i know that i've given a very brief kind<00:01:13.280> of<00:01:13.439> like<00:01:13.680> overview<00:01:14.320> of<00:01:14.560> an<00:01:14.720> introduction

kind of like overview of an introduction

kind of like overview of an introduction to<00:01:15.360> you<00:01:15.520> there<00:01:16.000> but

to you there but

to you there but can<00:01:17.040> you<00:01:17.200> just<00:01:17.439> give<00:01:17.759> everyone<00:01:18.320> kind<00:01:18.560> of<00:01:18.640> like

can you just give everyone kind of like

can you just give everyone kind of like a<00:01:19.200> quick

a quick

a quick overview<00:01:20.799> of<00:01:21.119> you<00:01:21.200> know<00:01:21.439> who<00:01:21.680> you<00:01:21.920> are<00:01:22.560> where

overview of you know who you are where

overview of you know who you are where you<00:01:23.040> started<00:01:23.600> how<00:01:23.759> you<00:01:23.920> became<00:01:24.240> a<00:01:24.400> trader<00:01:24.720> that

you started how you became a trader that

you started how you became a trader that we<00:01:24.960> can<00:01:25.119> get<00:01:25.360> into<00:01:25.600> the<00:01:25.680> whole<00:01:26.240> wealth

we can get into the whole wealth

we can get into the whole wealth creation<00:01:26.880> because<00:01:27.040> i<00:01:27.119> think<00:01:27.600> a<00:01:27.680> lot<00:01:27.840> of<00:01:27.920> the

creation because i think a lot of the

creation because i think a lot of the times<00:01:28.320> when<00:01:28.560> people<00:01:29.280> think<00:01:29.520> of<00:01:29.680> traders<00:01:30.640> they

times when people think of traders they

times when people think of traders they think<00:01:31.040> of<00:01:31.360> millionaires<00:01:32.159> who<00:01:32.640> came<00:01:32.960> from

think of millionaires who came from

think of millionaires who came from a<00:01:34.479> privileged<00:01:34.880> background<00:01:35.360> with<00:01:35.600> a<00:01:35.840> silver

a privileged background with a silver

a privileged background with a silver spoon<00:01:36.560> in<00:01:36.640> their<00:01:36.799> mouth

spoon in their mouth

spoon in their mouth and<00:01:38.079> for<00:01:38.320> you

and for you

and for you your<00:01:39.520> story<00:01:40.000> is<00:01:40.240> very<00:01:40.560> very<00:01:40.880> inspiring<00:01:42.000> in<00:01:42.079> the

your story is very very inspiring in the

your story is very very inspiring in the fact<00:01:42.479> that<00:01:42.799> it<00:01:43.119> isn't<00:01:43.439> that<00:01:43.759> normal

fact that it isn't that normal

fact that it isn't that normal traditional<00:01:45.119> journey<00:01:46.000> and

traditional journey and

traditional journey and your<00:01:47.680> outlook<00:01:48.240> and<00:01:48.479> the<00:01:48.560> way<00:01:48.799> you<00:01:49.040> put<00:01:49.360> things

your outlook and the way you put things

your outlook and the way you put things is<00:01:50.079> reflective<00:01:50.640> of<00:01:50.720> that<00:01:50.960> experience<00:01:51.439> as<00:01:51.520> well

is reflective of that experience as well

is reflective of that experience as well yeah<00:01:53.840> so<00:01:54.159> yeah<00:01:54.399> as<00:01:54.560> you<00:01:54.720> say<00:01:54.880> my<00:01:55.119> background<00:01:55.680> is

yeah so yeah as you say my background is

yeah so yeah as you say my background is not<00:01:56.079> really<00:01:56.320> the<00:01:56.560> typical<00:01:56.960> background<00:01:57.439> of<00:01:57.600> a

not really the typical background of a

not really the typical background of a trader<00:01:58.079> i<00:01:58.159> guess<00:01:58.399> yeah<00:01:58.640> so<00:01:58.799> um<00:01:59.119> i'm<00:01:59.360> from

trader i guess yeah so um i'm from

trader i guess yeah so um i'm from ilford<00:02:00.159> which<00:02:00.399> is<00:02:00.560> in<00:02:00.719> uh<00:02:00.960> east<00:02:01.200> london

ilford which is in uh east london

ilford which is in uh east london um

um

um and<00:02:03.759> i<00:02:04.000> managed<00:02:04.399> to<00:02:04.560> get<00:02:04.719> into<00:02:05.200> lse<00:02:05.600> london

and i managed to get into lse london

and i managed to get into lse london school<00:02:06.079> of<00:02:06.159> economics<00:02:06.640> i<00:02:06.719> started<00:02:06.960> there<00:02:07.119> in

school of economics i started there in

school of economics i started there in 2005.

um<00:02:11.120> you<00:02:11.200> know<00:02:11.599> lse<00:02:11.920> is<00:02:12.000> like<00:02:12.160> a<00:02:12.239> sort<00:02:12.400> of<00:02:12.480> top

um you know lse is like a sort of top

um you know lse is like a sort of top university<00:02:13.120> but<00:02:13.280> even<00:02:13.440> once<00:02:13.599> you<00:02:13.680> get<00:02:13.840> there

university but even once you get there

university but even once you get there it's<00:02:14.239> not<00:02:14.400> easy<00:02:14.640> to<00:02:14.720> get<00:02:14.879> a<00:02:14.959> job<00:02:15.120> as<00:02:15.280> a<00:02:15.360> trader

it's not easy to get a job as a trader

it's not easy to get a job as a trader and<00:02:16.080> um

and um

and um everyone<00:02:17.280> there<00:02:17.440> was<00:02:17.520> sort<00:02:17.680> of

everyone there was sort of

everyone there was sort of writing<00:02:18.879> a<00:02:18.959> million<00:02:19.200> applications<00:02:19.760> to<00:02:19.920> all

writing a million applications to all

writing a million applications to all the<00:02:20.080> different<00:02:20.319> investment<00:02:20.640> banks<00:02:20.959> i<00:02:21.040> didn't

the different investment banks i didn't

the different investment banks i didn't really<00:02:21.440> know<00:02:21.599> what<00:02:21.599> i<00:02:21.680> was<00:02:21.920> doing<00:02:22.160> but<00:02:22.480> um<00:02:22.959> i

really know what i was doing but um i

really know what i was doing but um i heard<00:02:23.280> that<00:02:23.520> citibank<00:02:24.000> used<00:02:24.160> to<00:02:24.239> hire<00:02:24.400> one

heard that citibank used to hire one

heard that citibank used to hire one trader<00:02:24.959> a<00:02:25.120> year<00:02:25.360> through<00:02:25.599> um<00:02:26.160> through<00:02:26.319> a<00:02:26.400> card

trader a year through um through a card

trader a year through um through a card game<00:02:26.959> which<00:02:27.120> was<00:02:27.360> basically<00:02:27.680> a<00:02:27.760> maths<00:02:28.080> game

game which was basically a maths game

game which was basically a maths game and<00:02:28.640> um<00:02:29.280> when<00:02:29.440> i<00:02:29.520> was<00:02:29.599> a<00:02:29.680> kid<00:02:29.840> i<00:02:30.000> used<00:02:30.080> to<00:02:30.160> love

and um when i was a kid i used to love

and um when i was a kid i used to love mata<00:02:30.560> and<00:02:30.640> i<00:02:30.800> used<00:02:30.959> to<00:02:31.040> do<00:02:31.200> math<00:02:31.360> competitions

mata and i used to do math competitions

mata and i used to do math competitions and<00:02:32.000> stuff<00:02:32.160> like<00:02:32.319> this<00:02:32.480> it's<00:02:32.560> sort<00:02:32.720> of<00:02:32.879> like

and stuff like this it's sort of like

and stuff like this it's sort of like not<00:02:33.840> the<00:02:33.920> coolest<00:02:34.319> thing<00:02:34.480> but<00:02:34.640> it<00:02:34.720> was<00:02:34.879> my<00:02:35.200> my

not the coolest thing but it was my my

not the coolest thing but it was my my talent<00:02:36.239> and<00:02:36.480> i<00:02:36.560> went<00:02:36.720> in<00:02:36.800> for<00:02:36.959> this<00:02:37.040> card<00:02:37.280> game

talent and i went in for this card game

talent and i went in for this card game and<00:02:37.599> i<00:02:37.680> won<00:02:38.000> and<00:02:38.239> um<00:02:38.560> i<00:02:38.720> got<00:02:38.800> a<00:02:38.879> job<00:02:39.120> basically

and i won and um i got a job basically

and i won and um i got a job basically as<00:02:39.680> a<00:02:39.760> trader<00:02:40.160> as<00:02:40.319> an<00:02:40.400> interest<00:02:40.720> rate<00:02:40.959> trader

as a trader as an interest rate trader

as a trader as an interest rate trader short-term<00:02:41.680> interest<00:02:41.920> rate<00:02:42.160> trader<00:02:42.480> for<00:02:43.120> city

short-term interest rate trader for city

short-term interest rate trader for city bank<00:02:43.599> in<00:02:43.680> london

bank in london

bank in london um<00:02:45.760> that<00:02:46.000> started<00:02:46.400> in<00:02:46.720> june<00:02:47.040> 2008<00:02:48.400> which<00:02:48.720> uh

um that started in june 2008 which uh

um that started in june 2008 which uh you you'll<00:02:49.200> obviously<00:02:49.440> immediately<00:02:49.920> know<00:02:50.160> it

you you'll obviously immediately know it

you you'll obviously immediately know it was<00:02:50.319> a<00:02:50.400> few<00:02:50.560> months<00:02:50.800> before<00:02:51.280> the<00:02:51.440> uh

was a few months before the uh

was a few months before the uh the<00:02:52.560> lehman<00:02:52.959> crisis<00:02:53.519> the<00:02:53.680> uh

the lehman crisis the uh

the lehman crisis the uh the<00:02:54.959> credit<00:02:55.200> crunch<00:02:55.840> um<00:02:56.239> so<00:02:56.400> yeah<00:02:56.560> things<00:02:56.800> blew

the credit crunch um so yeah things blew

the credit crunch um so yeah things blew up<00:02:57.200> pretty<00:02:57.440> quickly<00:02:57.680> when<00:02:57.920> i<00:02:58.000> was<00:02:58.239> there

up pretty quickly when i was there

up pretty quickly when i was there people<00:02:59.519> in<00:02:59.599> my<00:03:00.000> team<00:03:00.239> started<00:03:00.560> to<00:03:01.040> make<00:03:01.360> or

people in my team started to make or

people in my team started to make or lose<00:03:01.840> pretty<00:03:02.080> huge<00:03:02.239> amounts<00:03:02.560> of<00:03:02.640> money<00:03:03.040> um<00:03:04.080> and

lose pretty huge amounts of money um and

lose pretty huge amounts of money um and i<00:03:04.319> just<00:03:04.480> sort<00:03:04.640> of

i just sort of

i just sort of tried<00:03:05.599> to<00:03:05.680> get<00:03:05.840> involved<00:03:06.319> tried<00:03:06.480> to<00:03:06.560> make<00:03:06.720> as

tried to get involved tried to make as

tried to get involved tried to make as much<00:03:07.040> money<00:03:07.280> as<00:03:07.360> i<00:03:07.440> could<00:03:07.680> try<00:03:07.920> to<00:03:08.000> understand

much money as i could try to understand

much money as i could try to understand why<00:03:09.519> the<00:03:09.680> interest<00:03:09.920> rates<00:03:10.239> move<00:03:10.879> how<00:03:11.040> do<00:03:11.120> they

why the interest rates move how do they

why the interest rates move how do they move<00:03:11.760> and<00:03:12.080> um

move and um

move and um i<00:03:13.200> did<00:03:13.360> quite<00:03:13.519> well<00:03:13.680> in<00:03:13.760> the<00:03:13.840> first<00:03:14.000> couple<00:03:14.239> of

i did quite well in the first couple of

i did quite well in the first couple of years<00:03:14.640> and<00:03:14.879> uh<00:03:15.360> after<00:03:15.760> um<00:03:16.319> a<00:03:16.400> couple<00:03:16.640> years

years and uh after um a couple years

years and uh after um a couple years after<00:03:17.120> 2008<00:03:17.920> like

after 2008 like

after 2008 like i<00:03:18.879> started<00:03:19.120> to<00:03:19.200> sort<00:03:19.360> of<00:03:19.519> really<00:03:19.760> question

i started to sort of really question

i started to sort of really question this<00:03:20.239> narrative<00:03:20.800> because<00:03:21.120> traders<00:03:21.680> and

this narrative because traders and

this narrative because traders and economists<00:03:22.319> have<00:03:22.480> been<00:03:22.640> predicting<00:03:23.120> a<00:03:23.280> big

economists have been predicting a big

economists have been predicting a big recovery<00:03:25.120> every<00:03:25.360> single<00:03:25.680> year<00:03:26.319> um<00:03:26.560> 2008<00:03:27.040> they

recovery every single year um 2008 they

recovery every single year um 2008 they said<00:03:27.200> it<00:03:27.280> recovered<00:03:27.599> 2009<00:03:28.080> 2009<00:03:28.480> i<00:03:28.560> recovered

said it recovered 2009 2009 i recovered

said it recovered 2009 2009 i recovered in<00:03:28.879> 2010<00:03:30.080> and<00:03:30.319> um

in 2010 and um

in 2010 and um because<00:03:31.599> i<00:03:31.680> come<00:03:31.840> from<00:03:32.000> a<00:03:32.080> sort<00:03:32.239> of<00:03:32.319> poor

because i come from a sort of poor

because i come from a sort of poor background<00:03:33.040> i<00:03:33.120> couldn't<00:03:33.519> really<00:03:33.840> see

background i couldn't really see

background i couldn't really see things<00:03:35.599> like<00:03:35.760> the<00:03:35.920> government<00:03:36.239> money

things like the government money

things like the government money printing<00:03:36.879> like<00:03:37.120> qe

printing like qe

printing like qe affecting<00:03:38.400> ordinary<00:03:38.799> people<00:03:39.040> i<00:03:39.120> couldn't<00:03:39.280> see

affecting ordinary people i couldn't see

affecting ordinary people i couldn't see how<00:03:39.519> that<00:03:39.680> recovery<00:03:40.000> was<00:03:40.159> going<00:03:40.159> to<00:03:40.239> happen<00:03:40.480> so

how that recovery was going to happen so

how that recovery was going to happen so i<00:03:40.879> started<00:03:41.120> to<00:03:41.280> bet<00:03:41.519> that<00:03:41.760> because

i started to bet that because

i started to bet that because the<00:03:44.400> measures<00:03:44.640> weren't<00:03:44.879> helping<00:03:45.040> ordinary

the measures weren't helping ordinary

the measures weren't helping ordinary people<00:03:45.519> there<00:03:45.680> would<00:03:45.760> be<00:03:45.840> no<00:03:46.000> recovery<00:03:46.560> and

people there would be no recovery and

people there would be no recovery and then<00:03:47.120> through<00:03:47.360> that<00:03:47.760> by<00:03:48.000> the<00:03:48.080> end<00:03:48.159> of<00:03:48.239> 2011<00:03:48.959> i

then through that by the end of 2011 i

then through that by the end of 2011 i became<00:03:49.760> citibank's<00:03:50.480> globally<00:03:50.959> most

became citibank's globally most

became citibank's globally most profitable<00:03:51.599> trader<00:03:52.000> which<00:03:52.159> was<00:03:52.400> wow<00:03:53.200> pretty

profitable trader which was wow pretty

profitable trader which was wow pretty crazy<00:03:54.000> um

crazy um

crazy um and<00:03:55.439> uh<00:03:56.239> yeah<00:03:56.640> i<00:03:56.720> did<00:03:56.959> it<00:03:57.200> only<00:03:57.360> really<00:03:57.599> for

and uh yeah i did it only really for

and uh yeah i did it only really for sort<00:03:57.920> of<00:03:58.080> another<00:03:58.400> year<00:03:58.720> and<00:03:58.799> a<00:03:58.879> bit<00:03:59.120> after

sort of another year and a bit after

sort of another year and a bit after that<00:04:00.159> um<00:04:00.720> because<00:04:01.280> i<00:04:01.760> every<00:04:02.000> time<00:04:02.159> i<00:04:02.239> looked<00:04:02.480> at

that um because i every time i looked at

that um because i every time i looked at the<00:04:02.640> economy<00:04:03.040> and<00:04:03.120> i<00:04:03.200> had<00:04:03.360> to<00:04:03.519> put<00:04:03.680> bets<00:04:03.920> on<00:04:04.080> i

the economy and i had to put bets on i

the economy and i had to put bets on i thought<00:04:04.319> you<00:04:04.400> know<00:04:04.480> things<00:04:04.720> are<00:04:04.799> going<00:04:04.879> to<00:04:05.040> be

thought you know things are going to be

thought you know things are going to be really<00:04:05.360> bad<00:04:05.680> because

really bad because

really bad because the<00:04:06.799> government<00:04:07.200> the<00:04:07.280> economists<00:04:08.000> don't<00:04:08.239> have

the government the economists don't have

the government the economists don't have a<00:04:08.400> handle<00:04:08.640> on<00:04:08.720> inequality<00:04:09.200> they're<00:04:09.280> not

a handle on inequality they're not

a handle on inequality they're not dealing<00:04:09.680> with<00:04:09.920> it<00:04:10.000> so<00:04:10.239> the<00:04:10.319> future's<00:04:10.640> going<00:04:10.720> to

dealing with it so the future's going to

dealing with it so the future's going to be<00:04:10.959> bad<00:04:11.200> then<00:04:11.280> you<00:04:11.360> know<00:04:11.519> i<00:04:11.599> kept<00:04:11.840> betting<00:04:12.080> the

be bad then you know i kept betting the

be bad then you know i kept betting the future<00:04:12.400> was<00:04:12.480> going<00:04:12.560> to<00:04:12.640> be<00:04:12.720> bad<00:04:13.040> and<00:04:13.200> i<00:04:13.280> kept

future was going to be bad and i kept

future was going to be bad and i kept being<00:04:13.599> right<00:04:13.760> and<00:04:13.840> i<00:04:13.920> kept<00:04:14.080> making<00:04:14.319> a<00:04:14.400> lot<00:04:14.480> of

being right and i kept making a lot of

being right and i kept making a lot of money<00:04:14.799> and<00:04:14.959> um

money and um

money and um yeah<00:04:16.160> after<00:04:16.320> a<00:04:16.400> year<00:04:16.560> and<00:04:16.639> a<00:04:16.639> half<00:04:16.880> i<00:04:16.959> just<00:04:17.040> said

yeah after a year and a half i just said

yeah after a year and a half i just said to<00:04:17.440> my<00:04:17.519> boss<00:04:17.759> look<00:04:18.079> i<00:04:18.239> can't<00:04:18.479> do<00:04:18.639> this<00:04:18.720> anymore

to my boss look i can't do this anymore

to my boss look i can't do this anymore like<00:04:19.199> i<00:04:19.280> think<00:04:19.440> i<00:04:19.519> need<00:04:19.680> to<00:04:19.759> actually<00:04:20.000> try<00:04:20.160> and

like i think i need to actually try and

like i think i need to actually try and tell<00:04:20.880> people<00:04:21.120> what's<00:04:21.280> happening<00:04:21.759> i'll<00:04:21.840> try

tell people what's happening i'll try

tell people what's happening i'll try and<00:04:22.079> do<00:04:22.240> something<00:04:22.479> about<00:04:22.800> it<00:04:23.040> so<00:04:23.280> uh<00:04:23.440> see<00:04:23.680> i

and do something about it so uh see i

and do something about it so uh see i quit<00:04:24.160> um<00:04:24.560> then<00:04:24.800> after<00:04:25.040> i<00:04:25.120> did<00:04:25.280> a<00:04:25.360> masters<00:04:25.680> at

quit um then after i did a masters at

quit um then after i did a masters at oxford<00:04:26.240> sort<00:04:26.400> of

oxford sort of

oxford sort of talking<00:04:27.440> to<00:04:27.520> a<00:04:27.600> load<00:04:27.840> of<00:04:27.919> posh<00:04:28.160> economists

talking to a load of posh economists

talking to a load of posh economists wearing<00:04:28.960> capes<00:04:29.440> and<00:04:29.520> they<00:04:29.680> weren't

wearing capes and they weren't

wearing capes and they weren't interested<00:04:30.639> and<00:04:30.880> uh<00:04:31.600> yeah<00:04:31.759> now<00:04:31.919> i'm<00:04:32.080> out<00:04:32.240> here

interested and uh yeah now i'm out here

interested and uh yeah now i'm out here making<00:04:32.800> videos<00:04:33.120> on<00:04:33.199> youtube<00:04:33.680> writing

making videos on youtube writing

making videos on youtube writing articles<00:04:34.400> in<00:04:34.479> newspapers<00:04:35.120> on<00:04:35.199> websites<00:04:35.840> um

articles in newspapers on websites um

articles in newspapers on websites um just<00:04:36.639> trying<00:04:36.800> to<00:04:36.880> explain<00:04:37.120> to<00:04:37.199> people<00:04:37.440> the

just trying to explain to people the

just trying to explain to people the importance<00:04:37.759> of<00:04:37.919> inequality<00:04:38.560> um

importance of inequality um

importance of inequality um what's<00:04:40.240> going<00:04:40.320> to<00:04:40.400> happen<00:04:40.720> the<00:04:40.800> future<00:04:40.960> of<00:04:41.040> the

what's going to happen the future of the

what's going to happen the future of the economy<00:04:41.600> and<00:04:42.000> yeah<00:04:42.240> talking<00:04:42.479> to<00:04:42.560> people<00:04:42.720> like

economy and yeah talking to people like

economy and yeah talking to people like you<00:04:42.960> peter<00:04:43.199> and<00:04:43.280> we're<00:04:43.440> going<00:04:43.520> to<00:04:43.680> explain

you peter and we're going to explain

you peter and we're going to explain today<00:04:44.479> some<00:04:44.639> stuff<00:04:44.880> about<00:04:45.120> wealth<00:04:45.360> i<00:04:45.440> think

today some stuff about wealth i think

today some stuff about wealth i think it's<00:04:45.840> like<00:04:46.479> super<00:04:46.800> important<00:04:47.280> because<00:04:48.000> having

it's like super important because having

it's like super important because having like<00:04:48.800> traveled<00:04:49.040> my<00:04:49.280> journey<00:04:49.680> from<00:04:49.840> like<00:04:50.000> a

like traveled my journey from like a

like traveled my journey from like a poor<00:04:50.320> background<00:04:50.720> to<00:04:50.960> like<00:04:51.280> having<00:04:51.520> a<00:04:51.600> very

poor background to like having a very

poor background to like having a very good<00:04:51.919> job<00:04:52.080> with<00:04:52.240> rich<00:04:52.479> people<00:04:52.720> and<00:04:52.800> making

good job with rich people and making

good job with rich people and making quite<00:04:53.199> a<00:04:53.199> lot<00:04:53.280> of<00:04:53.360> money<00:04:53.600> myself

quite a lot of money myself

quite a lot of money myself i<00:04:55.040> think<00:04:55.199> there's<00:04:55.440> a<00:04:55.520> lot<00:04:55.600> of<00:04:55.680> ways<00:04:55.919> in<00:04:56.000> which

i think there's a lot of ways in which

i think there's a lot of ways in which ordinary<00:04:56.720> people<00:04:57.040> are<00:04:57.360> misled<00:04:58.080> and<00:04:58.639> as<00:04:58.800> a

ordinary people are misled and as a

ordinary people are misled and as a result<00:04:59.120> don't<00:04:59.280> really<00:04:59.440> understand<00:04:59.759> what

result don't really understand what

result don't really understand what world<00:05:00.160> is<00:05:00.320> and<00:05:00.400> how<00:05:00.560> it<00:05:00.639> works<00:05:01.360> absolutely

world is and how it works absolutely

world is and how it works absolutely absolutely<00:05:02.560> and<00:05:02.720> guys<00:05:03.520> i<00:05:03.680> have<00:05:03.840> to<00:05:04.000> say<00:05:04.320> right

absolutely and guys i have to say right

absolutely and guys i have to say right off<00:05:04.639> the<00:05:04.800> bat

off the bat

off the bat straight<00:05:05.840> away<00:05:06.720> if<00:05:06.880> you're<00:05:07.039> not<00:05:07.199> following<00:05:07.680> on

straight away if you're not following on

straight away if you're not following on youtube<00:05:09.199> and<00:05:09.280> you're<00:05:09.440> not<00:05:09.600> following<00:05:09.919> him<00:05:10.160> on

youtube and you're not following him on

youtube and you're not following him on his<00:05:10.560> social<00:05:10.880> medias<00:05:11.360> i<00:05:11.520> will<00:05:11.680> leave<00:05:12.160> all<00:05:12.400> of

his social medias i will leave all of

his social medias i will leave all of the<00:05:12.639> links<00:05:13.120> in<00:05:13.280> the<00:05:13.360> show<00:05:13.680> notes<00:05:14.080> definitely

the links in the show notes definitely

the links in the show notes definitely go<00:05:14.960> and<00:05:15.360> follow<00:05:16.240> one<00:05:16.400> thing<00:05:16.560> that<00:05:16.639> i<00:05:16.720> love

go and follow one thing that i love

go and follow one thing that i love about<00:05:17.120> you<00:05:17.440> and<00:05:17.759> one<00:05:17.919> of<00:05:18.000> my<00:05:18.160> followers<00:05:19.039> um

about you and one of my followers um

about you and one of my followers um tagged<00:05:19.680> me<00:05:19.840> in<00:05:19.919> one<00:05:20.080> of<00:05:20.160> your<00:05:20.400> videos<00:05:21.120> on

tagged me in one of your videos on

tagged me in one of your videos on instagram<00:05:22.479> which<00:05:22.720> i<00:05:22.800> think<00:05:23.120> linked<00:05:23.360> to<00:05:23.520> your

instagram which i think linked to your

instagram which i think linked to your youtube

youtube

youtube and<00:05:25.520> the<00:05:25.759> way<00:05:25.919> you<00:05:26.160> explain<00:05:26.639> things<00:05:27.199> is<00:05:27.600> very

and the way you explain things is very

and the way you explain things is very very<00:05:28.720> simple<00:05:29.199> so<00:05:29.360> that<00:05:29.759> anybody<00:05:30.320> can

very simple so that anybody can

very simple so that anybody can understand<00:05:31.039> that<00:05:31.199> and<00:05:31.360> i<00:05:31.680> i<00:05:31.840> resonate<00:05:32.320> with

understand that and i i resonate with

understand that and i i resonate with that<00:05:32.639> because<00:05:32.880> i<00:05:33.039> think

that because i think

that because i think with<00:05:34.160> within<00:05:34.479> my<00:05:34.639> experience<00:05:35.039> in<00:05:35.120> financial

with within my experience in financial

with within my experience in financial services<00:05:36.000> as<00:05:36.080> well

services as well

services as well the<00:05:37.520> industry<00:05:37.919> is<00:05:38.080> very<00:05:38.240> good<00:05:38.400> at<00:05:38.560> making

the industry is very good at making

the industry is very good at making things<00:05:39.520> overly<00:05:40.000> complicated<00:05:40.960> unnecessarily

things overly complicated unnecessarily

things overly complicated unnecessarily so<00:05:42.160> as<00:05:42.320> well<00:05:42.560> and<00:05:42.720> it's<00:05:42.880> almost<00:05:43.199> done

so as well and it's almost done

so as well and it's almost done intentionally<00:05:44.160> because

intentionally because

intentionally because the<00:05:45.840> industry<00:05:46.240> wants<00:05:46.479> to<00:05:46.560> be<00:05:46.720> seen<00:05:46.960> as<00:05:47.280> the

the industry wants to be seen as the

the industry wants to be seen as the experts<00:05:48.000> you<00:05:48.240> have<00:05:48.400> to<00:05:48.560> go<00:05:48.720> to<00:05:48.880> them<00:05:49.120> in<00:05:49.280> order

experts you have to go to them in order

experts you have to go to them in order to<00:05:49.600> do<00:05:49.840> xyz<00:05:50.960> and<00:05:51.120> i<00:05:51.199> think<00:05:51.360> breaking<00:05:51.680> it<00:05:51.840> down

to do xyz and i think breaking it down

to do xyz and i think breaking it down in<00:05:52.240> very<00:05:52.479> simple<00:05:52.800> language<00:05:53.360> is<00:05:53.680> really

in very simple language is really

in very simple language is really important<00:05:54.800> and<00:05:54.960> that's<00:05:55.199> what<00:05:55.360> you<00:05:55.759> you<00:05:55.919> tend

important and that's what you you tend

important and that's what you you tend to<00:05:56.160> do<00:05:56.319> which<00:05:56.479> is<00:05:56.560> why<00:05:56.720> i<00:05:56.800> was<00:05:56.960> really

to do which is why i was really

to do which is why i was really interested<00:05:57.520> to<00:05:57.600> have<00:05:57.759> you<00:05:58.319> on<00:05:58.479> this<00:05:58.639> podcast

interested to have you on this podcast

interested to have you on this podcast we've<00:05:59.360> got<00:05:59.600> youtube<00:05:59.919> live<00:06:00.080> and<00:06:00.160> we've<00:06:00.240> got

we've got youtube live and we've got

we've got youtube live and we've got another<00:06:00.560> podcast<00:06:01.120> as<00:06:01.199> well<00:06:01.360> that<00:06:01.440> we're<00:06:01.520> going

another podcast as well that we're going

another podcast as well that we're going to<00:06:01.680> be<00:06:01.840> recording<00:06:02.240> so<00:06:02.400> this<00:06:02.560> will<00:06:02.639> be<00:06:02.720> a<00:06:02.800> bit<00:06:02.880> of

to be recording so this will be a bit of

to be recording so this will be a bit of a<00:06:03.120> series

a series

a series to<00:06:04.960> get<00:06:05.199> kick<00:06:05.360> this<00:06:05.600> off<00:06:05.840> then

to get kick this off then

to get kick this off then what<00:06:08.080> is<00:06:08.240> the<00:06:08.400> definition

what is the definition

what is the definition or<00:06:10.800> actually<00:06:11.120> let's<00:06:11.360> start<00:06:11.600> here

or actually let's start here

or actually let's start here what<00:06:12.880> does<00:06:13.280> society

what does society

what does society misunderstand

misunderstand

misunderstand about<00:06:16.720> wealth<00:06:17.120> and<00:06:17.199> what<00:06:17.440> wealth<00:06:17.919> is

about wealth and what wealth is

about wealth and what wealth is okay<00:06:19.680> so<00:06:19.840> i<00:06:19.919> think<00:06:20.160> for<00:06:20.319> ordinary<00:06:20.800> people<00:06:21.520> and

okay so i think for ordinary people and

okay so i think for ordinary people and you<00:06:21.680> know<00:06:21.919> like<00:06:22.160> i<00:06:22.240> said<00:06:22.400> i<00:06:22.479> come<00:06:22.639> from<00:06:22.720> a<00:06:22.800> very

you know like i said i come from a very

you know like i said i come from a very ordinary<00:06:23.440> background<00:06:24.080> when<00:06:24.240> they<00:06:24.319> think

ordinary background when they think

ordinary background when they think about<00:06:24.720> wealth<00:06:25.039> and<00:06:25.120> what<00:06:25.280> it<00:06:25.360> means<00:06:25.520> to<00:06:25.600> be

about wealth and what it means to be

about wealth and what it means to be wealthy<00:06:26.560> they're<00:06:26.720> thinking<00:06:27.039> about<00:06:27.280> what<00:06:27.440> job

wealthy they're thinking about what job

wealthy they're thinking about what job have<00:06:27.759> you<00:06:27.919> got<00:06:28.479> because<00:06:28.800> for<00:06:28.960> most<00:06:29.199> ordinary

have you got because for most ordinary

have you got because for most ordinary people

people

people that's<00:06:31.280> the<00:06:31.360> difference<00:06:31.680> between<00:06:31.840> rich<00:06:32.080> and

that's the difference between rich and

that's the difference between rich and poor<00:06:32.479> you<00:06:32.560> know<00:06:32.639> do<00:06:32.720> you<00:06:32.800> have<00:06:32.880> a<00:06:32.960> good<00:06:33.120> job<00:06:33.280> do

poor you know do you have a good job do

poor you know do you have a good job do you<00:06:33.520> have<00:06:33.600> a<00:06:33.680> bad<00:06:33.840> job<00:06:34.000> when<00:06:34.160> you're<00:06:34.240> most

you have a bad job when you're most

you have a bad job when you're most ordinary<00:06:34.960> people<00:06:35.199> that's<00:06:35.360> where<00:06:35.600> the<00:06:35.680> money

ordinary people that's where the money

ordinary people that's where the money comes<00:06:36.160> from

comes from

comes from um<00:06:37.759> so<00:06:38.000> people<00:06:38.160> think<00:06:38.319> about<00:06:38.479> what<00:06:38.720> they<00:06:38.800> think

um so people think about what they think

um so people think about what they think about<00:06:39.120> their<00:06:39.280> job<00:06:39.680> but<00:06:39.919> your<00:06:40.080> job<00:06:40.319> is<00:06:40.400> not

about their job but your job is not

about their job but your job is not wealth<00:06:41.039> your<00:06:41.199> job<00:06:41.759> and<00:06:41.919> your<00:06:42.080> salary<00:06:42.479> is<00:06:42.560> a

wealth your job and your salary is a

wealth your job and your salary is a form<00:06:42.800> of<00:06:42.960> income<00:06:43.280> and<00:06:43.440> there's<00:06:43.600> a<00:06:43.680> big

form of income and there's a big

form of income and there's a big difference<00:06:44.080> between<00:06:44.400> income<00:06:45.120> and<00:06:45.280> wealth

difference between income and wealth

difference between income and wealth so<00:06:47.360> let's<00:06:47.600> explain<00:06:47.919> what<00:06:48.080> is<00:06:48.160> wealth

so let's explain what is wealth

so let's explain what is wealth basically<00:06:48.960> right<00:06:49.199> so<00:06:49.440> you<00:06:49.599> know

basically right so you know

basically right so you know wealth<00:06:51.039> is<00:06:51.280> the<00:06:51.440> ownership<00:06:52.000> of<00:06:52.240> assets<00:06:52.639> that

wealth is the ownership of assets that

wealth is the ownership of assets that you've<00:06:52.880> accumulated<00:06:53.520> right<00:06:53.680> and<00:06:54.000> the

you've accumulated right and the

you've accumulated right and the the<00:06:55.360> most<00:06:55.680> obvious<00:06:56.080> manifestation<00:06:56.800> of<00:06:56.880> that

the most obvious manifestation of that

the most obvious manifestation of that in<00:06:57.120> ordinary<00:06:57.440> people's<00:06:57.759> lives<00:06:58.000> is<00:06:58.160> do<00:06:58.240> you<00:06:58.400> own

in ordinary people's lives is do you own

in ordinary people's lives is do you own a<00:06:58.720> house<00:06:59.039> or<00:06:59.199> not<00:06:59.520> do<00:06:59.599> you<00:06:59.680> want<00:06:59.919> a<00:07:00.000> flat<00:07:00.160> or<00:07:00.240> not

a house or not do you want a flat or not

a house or not do you want a flat or not do<00:07:00.479> you<00:07:00.560> own<00:07:00.720> the<00:07:00.800> property<00:07:01.039> that<00:07:01.120> you<00:07:01.280> live<00:07:01.440> in

do you own the property that you live in

do you own the property that you live in some<00:07:01.840> people<00:07:02.160> do<00:07:02.720> and<00:07:03.120> other<00:07:03.360> people<00:07:03.520> don't

some people do and other people don't

some people do and other people don't and<00:07:03.840> they<00:07:03.919> have<00:07:04.000> the<00:07:04.160> rent

and they have the rent

and they have the rent but<00:07:05.440> even<00:07:05.680> that<00:07:05.919> is<00:07:06.080> actually<00:07:06.880> a<00:07:06.960> very

but even that is actually a very

but even that is actually a very limited<00:07:08.400> and<00:07:08.560> limiting<00:07:08.880> understanding<00:07:09.280> of

limited and limiting understanding of

limited and limiting understanding of what<00:07:09.520> wealth<00:07:09.840> is<00:07:10.000> because<00:07:10.160> i<00:07:10.240> think<00:07:10.400> for

what wealth is because i think for

what wealth is because i think for ordinary<00:07:11.120> people<00:07:11.840> especially<00:07:12.240> nowadays

ordinary people especially nowadays

ordinary people especially nowadays especially<00:07:13.039> here<00:07:13.199> where<00:07:13.360> i<00:07:13.520> am<00:07:13.599> in<00:07:13.759> london

especially here where i am in london

especially here where i am in london it's<00:07:14.479> so<00:07:14.720> difficult<00:07:15.039> just<00:07:15.199> to<00:07:15.280> get<00:07:15.440> a<00:07:15.520> house

it's so difficult just to get a house

it's so difficult just to get a house that<00:07:15.919> we<00:07:16.080> just<00:07:16.400> think<00:07:16.560> that's<00:07:16.720> what<00:07:16.880> i<00:07:16.960> want

that we just think that's what i want

that we just think that's what i want that's<00:07:17.280> what<00:07:17.360> i<00:07:17.440> need<00:07:17.599> i<00:07:17.759> want<00:07:17.840> a<00:07:17.919> house<00:07:18.479> and

that's what i need i want a house and

that's what i need i want a house and it's<00:07:18.720> super<00:07:18.960> important<00:07:19.280> to<00:07:19.360> get<00:07:19.440> house<00:07:19.680> and

it's super important to get house and

it's super important to get house and it's<00:07:19.919> difficult<00:07:20.240> if<00:07:20.319> you<00:07:20.400> don't<00:07:20.560> have<00:07:20.720> one<00:07:21.440> but

it's difficult if you don't have one but

it's difficult if you don't have one but if<00:07:21.759> we<00:07:21.919> just<00:07:22.160> understand<00:07:22.560> welfare<00:07:22.880> housing

if we just understand welfare housing

if we just understand welfare housing that's<00:07:23.360> super<00:07:23.599> super<00:07:23.840> limiting<00:07:24.160> right

that's super super limiting right

that's super super limiting right because<00:07:25.039> the<00:07:25.520> what<00:07:25.680> wealth<00:07:26.000> is<00:07:26.160> is<00:07:26.319> so<00:07:26.479> much

because the what wealth is is so much

because the what wealth is is so much more<00:07:26.880> than<00:07:27.039> that<00:07:27.199> right

more than that right

more than that right walk<00:07:28.319> down<00:07:28.479> your<00:07:28.560> high<00:07:28.800> street<00:07:29.039> right

walk down your high street right

walk down your high street right you<00:07:30.720> see<00:07:31.199> a<00:07:31.360> massive<00:07:31.599> supermarket

you see a massive supermarket

you see a massive supermarket sainsbury's<00:07:32.560> tesco's<00:07:33.120> somebody<00:07:33.440> owns<00:07:33.759> that

sainsbury's tesco's somebody owns that

sainsbury's tesco's somebody owns that you<00:07:34.319> see<00:07:34.560> i<00:07:34.639> live<00:07:34.800> here<00:07:34.960> in<00:07:35.039> the<00:07:35.120> canary<00:07:35.440> wharf

you see i live here in the canary wharf

you see i live here in the canary wharf right<00:07:35.919> there's<00:07:36.160> a

right there's a

right there's a load<00:07:37.199> of<00:07:37.280> skyscrapers<00:07:37.919> down<00:07:38.080> there<00:07:38.400> somebody

load of skyscrapers down there somebody

load of skyscrapers down there somebody owns<00:07:38.960> those<00:07:39.120> skyscrapers<00:07:40.000> you<00:07:40.000> know<00:07:40.080> what<00:07:40.160> i

owns those skyscrapers you know what i

owns those skyscrapers you know what i mean<00:07:40.639> somebody<00:07:41.039> owns<00:07:41.199> lloyd's<00:07:41.520> bank<00:07:41.759> on<00:07:41.840> your

mean somebody owns lloyd's bank on your

mean somebody owns lloyd's bank on your high<00:07:42.160> street<00:07:42.400> somebody<00:07:42.800> owns<00:07:42.960> your<00:07:43.120> local<00:07:43.440> pub

high street somebody owns your local pub

high street somebody owns your local pub somebody<00:07:44.240> owns<00:07:44.479> all<00:07:44.560> them<00:07:44.800> restaurants<00:07:45.199> you

somebody owns all them restaurants you

somebody owns all them restaurants you know<00:07:45.599> somebody<00:07:45.919> owns<00:07:46.160> h<00:07:46.479> m<00:07:46.800> all<00:07:46.960> of<00:07:47.039> these

know somebody owns h m all of these

know somebody owns h m all of these shops<00:07:47.520> right<00:07:47.680> and<00:07:47.919> you<00:07:48.000> know<00:07:48.080> that's<00:07:48.319> just<00:07:48.560> in

shops right and you know that's just in

shops right and you know that's just in the<00:07:48.720> city<00:07:48.879> you<00:07:48.960> go<00:07:49.120> into<00:07:49.280> the<00:07:49.360> countryside

the city you go into the countryside

the city you go into the countryside there's<00:07:50.400> miles<00:07:50.800> and<00:07:50.879> miles<00:07:51.199> of<00:07:51.280> farmland

there's miles and miles of farmland

there's miles and miles of farmland there's<00:07:52.080> factories<00:07:52.720> you<00:07:52.800> know<00:07:53.360> there's<00:07:53.840> oil

there's factories you know there's oil

there's factories you know there's oil fields<00:07:54.560> there's<00:07:54.879> there's<00:07:55.199> iron<00:07:55.520> mines<00:07:55.840> you

fields there's there's iron mines you

fields there's there's iron mines you know<00:07:56.000> what<00:07:56.080> i<00:07:56.160> mean<00:07:56.400> all<00:07:56.560> of<00:07:56.639> these<00:07:56.800> things<00:07:57.039> are

know what i mean all of these things are

know what i mean all of these things are owned<00:07:57.599> and<00:07:57.840> i<00:07:57.919> think<00:07:58.400> for<00:07:58.560> ordinary<00:07:59.120> people

owned and i think for ordinary people

owned and i think for ordinary people who<00:07:59.520> are<00:07:59.680> just<00:07:59.919> struggling<00:08:00.479> to<00:08:00.639> save<00:08:00.879> up<00:08:00.960> to

who are just struggling to save up to

who are just struggling to save up to buy<00:08:01.199> a<00:08:01.280> house<00:08:01.520> you<00:08:01.759> don't<00:08:01.919> think<00:08:02.160> like<00:08:02.720> well

buy a house you don't think like well

buy a house you don't think like well you<00:08:03.039> know<00:08:03.680> who<00:08:03.919> owns<00:08:04.240> the

you know who owns the

you know who owns the who<00:08:05.680> owns<00:08:05.919> the<00:08:06.080> skyscrapers<00:08:06.720> who<00:08:06.879> owns<00:08:07.039> the

who owns the skyscrapers who owns the

who owns the skyscrapers who owns the office<00:08:07.360> buildings<00:08:07.759> who<00:08:07.919> owns<00:08:08.160> the<00:08:08.240> shopping

office buildings who owns the shopping

office buildings who owns the shopping mall<00:08:08.800> you<00:08:08.879> know<00:08:08.960> what<00:08:09.039> i<00:08:09.120> mean<00:08:09.599> you<00:08:09.680> don't

mall you know what i mean you don't

mall you know what i mean you don't think<00:08:10.000> that<00:08:10.160> because<00:08:10.400> ordinary<00:08:10.800> people

think that because ordinary people

think that because ordinary people basically<00:08:11.919> never<00:08:12.160> get<00:08:12.319> to<00:08:12.400> own<00:08:12.639> those<00:08:12.720> things

basically never get to own those things

basically never get to own those things but<00:08:13.120> they<00:08:13.440> are<00:08:13.759> all<00:08:14.000> owned<00:08:14.400> all<00:08:14.560> of<00:08:14.639> those

but they are all owned all of those

but they are all owned all of those things<00:08:15.120> are<00:08:15.280> owned<00:08:15.680> everything<00:08:16.479> everything

things are owned everything everything

things are owned everything everything you<00:08:17.039> see<00:08:17.199> when<00:08:17.280> you<00:08:17.360> go<00:08:17.520> out<00:08:17.680> there<00:08:17.840> is<00:08:18.000> owned

you see when you go out there is owned

you see when you go out there is owned even<00:08:19.360> the<00:08:19.520> schools<00:08:19.919> the<00:08:20.000> hospitals<00:08:20.720> they're

even the schools the hospitals they're

even the schools the hospitals they're owned<00:08:21.199> right<00:08:21.440> so

owned right so

owned right so once<00:08:22.639> you<00:08:22.800> broaden<00:08:23.199> your<00:08:23.360> understanding<00:08:23.919> of

once you broaden your understanding of

once you broaden your understanding of what<00:08:24.160> is<00:08:24.319> worth<00:08:24.720> and<00:08:24.800> you<00:08:24.960> start<00:08:25.120> walking<00:08:25.440> down

what is worth and you start walking down

what is worth and you start walking down the<00:08:25.680> high<00:08:25.840> street<00:08:26.000> you<00:08:26.080> start<00:08:26.240> thinking

the high street you start thinking

the high street you start thinking somebody<00:08:26.879> owns<00:08:27.120> this<00:08:27.360> you<00:08:27.440> know<00:08:27.840> somebody

somebody owns this you know somebody

somebody owns this you know somebody owns<00:08:28.560> that<00:08:28.720> shopping<00:08:29.039> mall<00:08:29.599> somebody<00:08:29.919> owns

owns that shopping mall somebody owns

owns that shopping mall somebody owns this<00:08:30.319> office<00:08:30.560> building<00:08:30.960> that<00:08:31.039> you<00:08:31.199> work<00:08:31.440> in

this office building that you work in

this office building that you work in you<00:08:31.680> know<00:08:31.759> what<00:08:31.840> i<00:08:31.919> mean<00:08:32.159> once<00:08:32.399> you<00:08:32.479> start

you know what i mean once you start

you know what i mean once you start realizing<00:08:33.120> those<00:08:33.279> things<00:08:33.519> you<00:08:33.599> realize<00:08:34.080> wow

realizing those things you realize wow

realizing those things you realize wow there's<00:08:35.120> there's<00:08:35.360> a<00:08:35.519> huge<00:08:35.839> amount<00:08:36.159> of<00:08:36.320> wealth

there's there's a huge amount of wealth

there's there's a huge amount of wealth in<00:08:36.719> the<00:08:36.800> world<00:08:37.120> that<00:08:37.680> i<00:08:37.839> don't<00:08:38.080> own<00:08:38.399> you<00:08:38.479> know

in the world that i don't own you know

in the world that i don't own you know i'm<00:08:38.719> sitting<00:08:38.959> here<00:08:39.120> now<00:08:39.279> looking<00:08:39.519> out<00:08:39.599> the

i'm sitting here now looking out the

i'm sitting here now looking out the window<00:08:39.839> i<00:08:39.919> can<00:08:40.000> see<00:08:40.159> the<00:08:40.240> shard<00:08:40.479> in<00:08:40.640> a<00:08:40.719> distance

window i can see the shard in a distance

window i can see the shard in a distance tallest<00:08:41.360> building<00:08:41.680> in<00:08:41.760> western<00:08:42.080> europe

tallest building in western europe

tallest building in western europe somebody<00:08:42.959> owns<00:08:43.200> that<00:08:43.279> building<00:08:43.839> you<00:08:43.919> know

somebody owns that building you know

somebody owns that building you know what i<00:08:44.080> mean<00:08:44.399> but<00:08:44.640> ordinary<00:08:45.120> people<00:08:45.279> never

what i mean but ordinary people never

what i mean but ordinary people never get<00:08:45.600> to<00:08:45.760> own<00:08:45.920> these<00:08:46.080> things<00:08:46.320> so

get to own these things so

get to own these things so the<00:08:47.519> first<00:08:47.760> my<00:08:47.920> first<00:08:48.160> message<00:08:48.480> is<00:08:48.720> there's<00:08:48.959> a

the first my first message is there's a

the first my first message is there's a huge<00:08:49.360> amount<00:08:49.600> of<00:08:49.760> wealth

huge amount of wealth

huge amount of wealth commercial<00:08:51.279> wealth

commercial wealth

commercial wealth shops

shops

shops offices<00:08:54.880> factories

offices factories

offices factories natural<00:08:56.800> resources<00:08:57.360> like<00:08:57.600> land<00:08:58.240> and

natural resources like land and

natural resources like land and mines<00:08:59.440> and<00:08:59.600> oil<00:08:59.920> fields<00:09:00.320> and<00:09:00.640> you<00:09:00.720> know<00:09:01.440> those

mines and oil fields and you know those

mines and oil fields and you know those windmills<00:09:02.240> that<00:09:02.640> give<00:09:02.800> us<00:09:02.959> electricity<00:09:03.440> in

windmills that give us electricity in

windmills that give us electricity in the<00:09:03.680> sea<00:09:04.000> these<00:09:04.240> are<00:09:04.399> all<00:09:04.560> owned

the sea these are all owned

the sea these are all owned well

well

well so<00:09:07.200> listeners<00:09:07.760> might<00:09:07.920> be<00:09:08.080> thinking<00:09:08.320> well<00:09:08.480> i

so listeners might be thinking well i

so listeners might be thinking well i don't<00:09:08.720> know<00:09:08.959> nobody<00:09:09.360> who<00:09:09.680> owns<00:09:10.160> an<00:09:10.320> iron<00:09:10.640> mine

don't know nobody who owns an iron mine

don't know nobody who owns an iron mine you<00:09:11.040> know<00:09:11.120> what<00:09:11.120> i<00:09:11.200> mean<00:09:11.600> i<00:09:11.760> don't<00:09:11.839> know<00:09:12.000> nobody

you know what i mean i don't know nobody

you know what i mean i don't know nobody who<00:09:12.560> owns

who owns

who owns a<00:09:13.519> skyscraper

a skyscraper

a skyscraper so<00:09:15.279> who<00:09:15.440> owns<00:09:15.680> these<00:09:15.920> things<00:09:16.480> and<00:09:16.640> that<00:09:17.200> leads

so who owns these things and that leads

so who owns these things and that leads us<00:09:17.920> to<00:09:18.160> my<00:09:18.320> first<00:09:18.560> big<00:09:18.800> point<00:09:19.360> which<00:09:19.600> is<00:09:19.680> when

us to my first big point which is when

us to my first big point which is when we<00:09:20.000> understand<00:09:20.480> wealth<00:09:20.959> which<00:09:21.120> is<00:09:21.360> who<00:09:21.680> owns

we understand wealth which is who owns

we understand wealth which is who owns the<00:09:22.560> actual<00:09:23.120> things<00:09:23.600> in<00:09:23.760> our<00:09:24.000> world<00:09:24.320> in<00:09:24.399> our

the actual things in our world in our

the actual things in our world in our country<00:09:24.959> and<00:09:25.120> our<00:09:25.279> cities

country and our cities

country and our cities we<00:09:27.360> realize<00:09:27.680> that<00:09:27.920> wealth<00:09:28.320> is<00:09:28.800> much<00:09:29.279> much<00:09:29.600> more

we realize that wealth is much much more

we realize that wealth is much much more unequally<00:09:30.160> distributed<00:09:31.040> than<00:09:31.600> income

unequally distributed than income

unequally distributed than income which<00:09:33.040> makes<00:09:33.279> sense<00:09:33.519> in<00:09:33.600> a<00:09:33.680> way<00:09:33.839> because<00:09:34.160> you

which makes sense in a way because you

which makes sense in a way because you know<00:09:34.640> one<00:09:34.880> person<00:09:35.200> could<00:09:35.440> only<00:09:35.600> work<00:09:35.760> one<00:09:36.000> job

know one person could only work one job

know one person could only work one job but<00:09:37.120> one<00:09:37.360> person<00:09:37.760> can<00:09:38.000> own<00:09:38.399> huge<00:09:38.880> amounts<00:09:39.279> of

but one person can own huge amounts of

but one person can own huge amounts of property<00:09:40.000> and<00:09:40.320> buildings<00:09:40.880> and<00:09:41.040> natural

property and buildings and natural

property and buildings and natural resources<00:09:41.839> you<00:09:41.920> know<00:09:42.000> if<00:09:42.160> we<00:09:42.399> look<00:09:42.560> at<00:09:42.959> jeff

resources you know if we look at jeff

resources you know if we look at jeff bezos<00:09:43.600> the<00:09:43.680> richest<00:09:43.920> man<00:09:44.080> in<00:09:44.160> the<00:09:44.160> world<00:09:44.320> he's

bezos the richest man in the world he's

bezos the richest man in the world he's got<00:09:44.640> 200<00:09:45.360> billion<00:09:45.760> you<00:09:45.839> know<00:09:46.000> which<00:09:46.160> is<00:09:46.240> 200

got 200 billion you know which is 200

got 200 billion you know which is 200 000<00:09:47.040> million

000 million

000 million of<00:09:48.480> assets<00:09:49.040> of<00:09:49.120> wealth<00:09:49.440> and<00:09:49.519> that<00:09:50.160> people

of assets of wealth and that people

of assets of wealth and that people sometimes<00:09:51.279> i<00:09:51.440> think<00:09:51.680> visualize<00:09:52.640> that<00:09:52.880> as<00:09:53.040> if

sometimes i think visualize that as if

sometimes i think visualize that as if jeff<00:09:53.440> bezos<00:09:53.680> has<00:09:53.760> a<00:09:53.839> bank<00:09:54.080> account<00:09:54.480> somewhere

jeff bezos has a bank account somewhere

jeff bezos has a bank account somewhere 200<00:09:55.200> billion<00:09:55.680> in<00:09:55.839> it<00:09:56.080> that's<00:09:56.399> exactly<00:09:56.880> not<00:09:57.120> how

200 billion in it that's exactly not how

200 billion in it that's exactly not how it<00:09:57.440> works<00:09:57.760> right

it works right

it works right very<00:09:59.279> very<00:09:59.440> wealthy<00:09:59.839> people<00:10:00.160> do<00:10:00.320> not<00:10:00.480> have

very very wealthy people do not have

very very wealthy people do not have bank<00:10:01.440> accounts<00:10:01.839> with<00:10:02.160> enormous<00:10:02.720> amounts<00:10:03.040> of

bank accounts with enormous amounts of

bank accounts with enormous amounts of cash<00:10:03.519> well<00:10:03.839> i<00:10:03.920> mean<00:10:04.079> they<00:10:04.240> do<00:10:04.399> but<00:10:04.640> not<00:10:04.720> 200

cash well i mean they do but not 200

cash well i mean they do but not 200 billion<00:10:05.839> dollars<00:10:06.160> of<00:10:06.240> cash<00:10:06.480> what<00:10:06.640> they<00:10:06.800> own<00:10:07.200> is

billion dollars of cash what they own is

billion dollars of cash what they own is resources<00:10:08.240> and<00:10:08.320> those<00:10:08.560> resources<00:10:09.120> are<00:10:09.440> real

resources and those resources are real

resources and those resources are real things<00:10:10.079> that<00:10:10.320> exist<00:10:10.959> in<00:10:11.440> the<00:10:11.600> world<00:10:11.920> and<00:10:12.079> in

things that exist in the world and in

things that exist in the world and in this<00:10:12.320> country<00:10:12.640> right<00:10:13.360> they<00:10:13.519> own<00:10:14.240> buildings

this country right they own buildings

this country right they own buildings corporate<00:10:15.120> buildings<00:10:15.600> that<00:10:15.760> might<00:10:15.920> be<00:10:16.079> your

corporate buildings that might be your

corporate buildings that might be your shopping<00:10:16.720> center<00:10:16.959> that<00:10:17.040> might<00:10:17.200> be<00:10:17.360> a

shopping center that might be a

shopping center that might be a supermarket<00:10:18.079> there<00:10:18.160> might<00:10:18.399> be<00:10:18.560> office

supermarket there might be office

supermarket there might be office buildings<00:10:19.519> they<00:10:19.680> own<00:10:20.000> factories<00:10:20.480> they<00:10:20.720> own

buildings they own factories they own

buildings they own factories they own land<00:10:21.200> there<00:10:21.360> are<00:10:21.440> natural<00:10:21.760> resources<00:10:22.160> so

land there are natural resources so

land there are natural resources so there's

there's

there's that's<00:10:24.399> my<00:10:24.560> message<00:10:24.880> there's<00:10:25.040> a<00:10:25.120> huge<00:10:25.519> amount

that's my message there's a huge amount

that's my message there's a huge amount of<00:10:26.560> real<00:10:26.880> wealth<00:10:27.440> in<00:10:27.519> the<00:10:27.600> world<00:10:27.920> it's<00:10:28.079> not<00:10:28.240> an

of real wealth in the world it's not an

of real wealth in the world it's not an abstract<00:10:28.720> thing<00:10:28.959> it's<00:10:29.120> not<00:10:29.279> just<00:10:29.440> money<00:10:29.680> in

abstract thing it's not just money in

abstract thing it's not just money in the<00:10:29.920> bank<00:10:30.399> it's<00:10:30.560> real<00:10:30.800> resources<00:10:31.680> buildings

the bank it's real resources buildings

the bank it's real resources buildings natural<00:10:32.880> resources<00:10:33.760> companies<00:10:34.480> hospital

natural resources companies hospital

natural resources companies hospital schools<00:10:35.279> things<00:10:35.519> like<00:10:35.600> that

schools things like that

schools things like that and<00:10:37.279> uh<00:10:37.839> it's<00:10:38.079> very<00:10:38.240> very<00:10:38.480> unequally

and uh it's very very unequally

and uh it's very very unequally distributed<00:10:39.360> and<00:10:39.519> ordinary<00:10:40.079> people<00:10:40.800> who<00:10:40.959> are

distributed and ordinary people who are

distributed and ordinary people who are often<00:10:41.279> struggling<00:10:41.760> just<00:10:42.000> to<00:10:42.079> own<00:10:42.320> the<00:10:42.560> home

often struggling just to own the home

often struggling just to own the home that<00:10:42.959> they<00:10:43.200> live<00:10:43.440> in

that they live in

that they live in don't<00:10:45.680> often<00:10:46.160> realize<00:10:46.880> what<00:10:47.120> an<00:10:47.200> enormous

don't often realize what an enormous

don't often realize what an enormous amount<00:10:47.839> of<00:10:47.920> wealth<00:10:48.160> there<00:10:48.320> is<00:10:48.560> and<00:10:48.640> how<00:10:48.880> much

amount of wealth there is and how much

amount of wealth there is and how much that<00:10:49.600> ownership<00:10:50.079> is<00:10:50.160> concentrated<00:10:50.800> amongst<00:10:51.200> a

that ownership is concentrated amongst a

that ownership is concentrated amongst a small<00:10:51.600> number<00:10:51.920> of

small number of

small number of largely<00:10:53.519> very<00:10:53.760> very<00:10:54.240> wealthy<00:10:55.040> families

largely very very wealthy families

largely very very wealthy families individuals

individuals

individuals you<00:10:57.600> make<00:10:57.839> some<00:10:58.079> really<00:10:58.240> good<00:10:58.480> points<00:10:58.880> here

you make some really good points here

you make some really good points here and

and

and so<00:11:01.120> my<00:11:01.360> background<00:11:01.760> is<00:11:02.000> is<00:11:02.240> very<00:11:02.399> similar<00:11:02.720> to

so my background is is very similar to

so my background is is very similar to yours<00:11:03.200> in<00:11:03.279> terms<00:11:03.600> of<00:11:03.839> not<00:11:04.000> from<00:11:04.160> a<00:11:04.240> wealthy

yours in terms of not from a wealthy

yours in terms of not from a wealthy background<00:11:04.959> at<00:11:05.120> all<00:11:05.279> so<00:11:05.440> you<00:11:05.600> tend<00:11:05.760> to<00:11:05.920> like

background at all so you tend to like

background at all so you tend to like kind<00:11:06.240> of<00:11:06.320> work<00:11:06.480> your<00:11:06.640> way<00:11:06.880> up<00:11:07.120> and<00:11:07.600> you<00:11:07.680> know

kind of work your way up and you know

kind of work your way up and you know you<00:11:08.079> get<00:11:08.240> earned<00:11:08.560> good<00:11:08.800> money<00:11:09.360> and<00:11:09.600> income

you get earned good money and income

you get earned good money and income you're<00:11:10.480> right<00:11:10.800> income<00:11:11.200> is<00:11:11.360> just<00:11:11.680> income

you're right income is just income

you're right income is just income wealth<00:11:12.959> is<00:11:13.120> very<00:11:13.279> very<00:11:13.519> different<00:11:13.920> and<00:11:14.000> you've

wealth is very very different and you've

wealth is very very different and you've religious<00:11:14.640> to<00:11:14.720> the<00:11:14.800> fact<00:11:15.040> that<00:11:15.279> now<00:11:15.760> that<00:11:15.920> we

religious to the fact that now that we

religious to the fact that now that we have<00:11:16.240> a<00:11:16.320> whole<00:11:16.640> generation<00:11:17.279> of<00:11:17.360> people<00:11:17.680> who

have a whole generation of people who

have a whole generation of people who are<00:11:18.000> struggling<00:11:18.480> just<00:11:18.640> to<00:11:18.720> get<00:11:18.880> the<00:11:18.959> deposit

are struggling just to get the deposit

are struggling just to get the deposit for<00:11:19.600> that<00:11:19.839> for<00:11:20.000> the<00:11:20.160> house<00:11:20.480> that<00:11:20.560> they<00:11:20.720> will

for that for the house that they will

for that for the house that they will eventually<00:11:21.760> own<00:11:22.079> and<00:11:22.240> that<00:11:22.800> will<00:11:23.040> be

eventually own and that will be

eventually own and that will be in<00:11:24.079> most<00:11:24.399> cases<00:11:24.880> for<00:11:25.360> most<00:11:25.680> people

in most cases for most people

in most cases for most people the<00:11:26.800> biggest<00:11:27.200> asset<00:11:27.519> that<00:11:27.680> they<00:11:27.920> own<00:11:28.399> during

the biggest asset that they own during

the biggest asset that they own during their<00:11:28.800> lifetime

their lifetime

their lifetime so<00:11:30.880> once<00:11:31.120> you<00:11:31.519> own<00:11:31.760> that<00:11:32.000> property<00:11:32.640> you've<00:11:32.880> got

so once you own that property you've got

so once you own that property you've got your<00:11:33.519> your<00:11:33.920> foot<00:11:34.160> on<00:11:34.320> the<00:11:34.480> ladder<00:11:34.800> as<00:11:34.959> it<00:11:35.120> were

your your foot on the ladder as it were

your your foot on the ladder as it were you're<00:11:36.720> right<00:11:37.040> it's<00:11:37.279> very<00:11:37.600> very<00:11:37.920> difficult

you're right it's very very difficult

you're right it's very very difficult then<00:11:38.720> to<00:11:38.880> put<00:11:39.120> your<00:11:39.279> head<00:11:39.440> above<00:11:39.680> the<00:11:39.839> parapet

then to put your head above the parapet

then to put your head above the parapet to<00:11:40.399> see<00:11:40.720> actually<00:11:41.040> that<00:11:41.200> there's<00:11:41.680> all<00:11:41.920> this

to see actually that there's all this

to see actually that there's all this other<00:11:42.480> stuff<00:11:42.959> that<00:11:43.440> you<00:11:43.680> could<00:11:44.079> be<00:11:44.399> part

other stuff that you could be part

other stuff that you could be part ownership<00:11:45.279> in

ownership in

ownership in my<00:11:46.320> question<00:11:47.040> is<00:11:47.279> though

it's<00:11:49.920> probably<00:11:50.160> going<00:11:50.240> to<00:11:50.320> be<00:11:50.399> twofold<00:11:50.880> for

it's probably going to be twofold for

it's probably going to be twofold for this<00:11:51.200> and<00:11:51.360> follow<00:11:51.680> up

this and follow up

this and follow up how<00:11:53.360> much<00:11:53.600> of<00:11:53.760> a<00:11:53.839> role<00:11:54.240> do<00:11:54.399> you<00:11:54.639> think

how much of a role do you think

how much of a role do you think number<00:11:55.760> one<00:11:56.160> education<00:11:56.880> has<00:11:57.040> to<00:11:57.200> play<00:11:57.839> in<00:11:58.000> the

number one education has to play in the

number one education has to play in the fact<00:11:58.480> that<00:11:58.720> number<00:11:59.040> one<00:11:59.760> there<00:12:00.000> is<00:12:00.320> this

fact that number one there is this

fact that number one there is this misunderstanding<00:12:01.680> of<00:12:01.920> what<00:12:02.160> true<00:12:02.480> wealth<00:12:02.880> is

misunderstanding of what true wealth is

misunderstanding of what true wealth is and<00:12:04.160> do<00:12:04.320> you<00:12:04.720> feel<00:12:05.279> that<00:12:05.519> there<00:12:05.760> are<00:12:06.000> actual

and do you feel that there are actual

and do you feel that there are actual barriers<00:12:07.200> that<00:12:07.360> are<00:12:07.600> that<00:12:07.839> are<00:12:08.320> practically

barriers that are that are practically

barriers that are that are practically and

and

and uh<00:12:11.040> tangibly<00:12:11.600> put<00:12:11.839> in<00:12:12.000> place

uh tangibly put in place

uh tangibly put in place of<00:12:13.120> people

of people

of people attaining

attaining

attaining assets<00:12:16.560> in<00:12:16.800> order<00:12:17.120> to<00:12:17.279> build<00:12:17.839> real<00:12:18.160> wealth<00:12:19.040> on

assets in order to build real wealth on

assets in order to build real wealth on in<00:12:19.519> the<00:12:19.600> long<00:12:19.839> term

that's<00:12:22.399> a<00:12:22.480> very<00:12:22.720> very<00:12:22.959> good<00:12:23.120> question<00:12:23.440> because

that's a very very good question because

that's a very very good question because um

um

um you're<00:12:25.600> kind<00:12:25.839> of<00:12:25.920> capturing<00:12:26.320> here<00:12:26.480> that

you're kind of capturing here that

you're kind of capturing here that there's<00:12:26.880> basically<00:12:27.279> two<00:12:27.440> sides<00:12:27.680> to<00:12:27.839> this

there's basically two sides to this

there's basically two sides to this basically<00:12:28.399> which<00:12:28.560> is<00:12:28.639> um

basically which is um

basically which is um one<00:12:29.839> people<00:12:30.079> are<00:12:30.160> misled<00:12:30.560> and<00:12:30.639> people<00:12:30.800> are<00:12:30.880> not

one people are misled and people are not

one people are misled and people are not understanding<00:12:31.360> what's<00:12:31.600> happening

understanding what's happening

understanding what's happening um<00:12:33.040> but<00:12:33.200> on<00:12:33.360> the<00:12:33.519> other<00:12:33.760> side<00:12:34.560> we<00:12:34.720> have<00:12:34.880> a

um but on the other side we have a

um but on the other side we have a system<00:12:35.279> that<00:12:35.440> actually<00:12:35.680> makes<00:12:36.000> it<00:12:36.480> very<00:12:36.800> very

system that actually makes it very very

system that actually makes it very very difficult<00:12:37.440> for<00:12:37.519> ordinary<00:12:37.920> people<00:12:38.160> to<00:12:38.320> get

difficult for ordinary people to get

difficult for ordinary people to get some<00:12:38.560> of<00:12:38.639> that<00:12:38.800> wealth<00:12:39.040> you<00:12:39.120> know<00:12:39.200> i<00:12:39.279> mean<00:12:39.440> so

some of that wealth you know i mean so

some of that wealth you know i mean so there's<00:12:40.079> there's<00:12:40.320> this<00:12:40.959> educational<00:12:41.600> problem

there's there's this educational problem

there's there's this educational problem this<00:12:42.000> individual<00:12:42.480> problem<00:12:43.040> and<00:12:43.120> there's<00:12:43.279> also

this individual problem and there's also

this individual problem and there's also this<00:12:43.600> systemic<00:12:44.079> problem<00:12:44.480> so

this systemic problem so

this systemic problem so all<00:12:45.440> right<00:12:45.600> let's<00:12:45.760> first<00:12:46.000> talk<00:12:46.160> about

all right let's first talk about

all right let's first talk about understanding<00:12:47.040> why<00:12:47.279> do<00:12:47.360> people<00:12:47.680> understand<00:12:48.079> i

understanding why do people understand i

understanding why do people understand i mean<00:12:48.320> obviously<00:12:48.639> they're<00:12:48.800> not<00:12:48.880> taught<00:12:49.200> in

mean obviously they're not taught in

mean obviously they're not taught in school<00:12:49.760> you<00:12:49.920> know<00:12:50.079> people<00:12:50.240> like<00:12:50.480> yourself<00:12:50.800> and

school you know people like yourself and

school you know people like yourself and you<00:12:50.959> know<00:12:51.040> i<00:12:51.120> do<00:12:51.279> the<00:12:51.360> same<00:12:51.600> thing<00:12:51.760> we<00:12:51.920> put

you know i do the same thing we put

you know i do the same thing we put videos<00:12:52.399> on<00:12:52.560> youtube<00:12:52.800> trying<00:12:52.959> to<00:12:53.120> educate

videos on youtube trying to educate

videos on youtube trying to educate people<00:12:53.600> on<00:12:53.680> what's<00:12:53.839> happening<00:12:54.720> that's<00:12:54.880> super

people on what's happening that's super

people on what's happening that's super important<00:12:56.000> but<00:12:56.320> one<00:12:56.560> thing<00:12:56.800> to

important but one thing to

important but one thing to make<00:12:58.560> clear<00:12:58.800> is<00:12:58.959> you<00:12:59.120> know

make clear is you know

make clear is you know i<00:13:00.079> go<00:13:00.320> out<00:13:00.399> and<00:13:00.480> i<00:13:00.560> do<00:13:00.639> a<00:13:00.720> lot<00:13:00.800> of<00:13:00.880> campaigning

i go out and i do a lot of campaigning

i go out and i do a lot of campaigning saying<00:13:01.600> look

saying look

saying look the<00:13:03.040> super<00:13:03.279> super<00:13:03.519> rich<00:13:03.760> are<00:13:03.839> unbelievably

the super super rich are unbelievably

the super super rich are unbelievably rich<00:13:04.959> if<00:13:05.120> they<00:13:05.279> don't<00:13:05.440> pay<00:13:05.680> taxes<00:13:06.079> we've<00:13:06.240> got

rich if they don't pay taxes we've got

rich if they don't pay taxes we've got to<00:13:06.480> pay<00:13:06.720> it<00:13:07.120> it's<00:13:07.279> going<00:13:07.440> to<00:13:07.519> affect<00:13:07.839> us<00:13:07.920> it's

to pay it it's going to affect us it's

to pay it it's going to affect us it's going<00:13:08.079> to<00:13:08.160> affect<00:13:08.399> our<00:13:08.560> society

going to affect our society

going to affect our society um

um

um but<00:13:11.839> you<00:13:11.920> know<00:13:12.000> a<00:13:12.079> lot<00:13:12.160> of<00:13:12.240> these<00:13:12.399> super<00:13:12.639> rich

but you know a lot of these super rich

but you know a lot of these super rich people<00:13:13.360> obviously<00:13:13.680> they<00:13:13.839> don't<00:13:14.240> agree<00:13:14.480> with

people obviously they don't agree with

people obviously they don't agree with my<00:13:14.800> message<00:13:15.040> they<00:13:15.200> don't<00:13:15.279> want<00:13:15.360> to<00:13:15.440> be<00:13:15.519> taxed

my message they don't want to be taxed

my message they don't want to be taxed more<00:13:15.920> right<00:13:16.079> but<00:13:16.720> and<00:13:16.880> they<00:13:17.040> own<00:13:17.279> things

more right but and they own things

more right but and they own things you<00:13:18.959> know<00:13:19.200> some<00:13:19.360> of<00:13:19.440> those<00:13:19.519> things<00:13:19.760> they<00:13:19.839> own

you know some of those things they own

you know some of those things they own include<00:13:20.560> you<00:13:20.720> know<00:13:21.200> newspapers<00:13:21.920> you<00:13:22.079> know

include you know newspapers you know

include you know newspapers you know what<00:13:22.240> i<00:13:22.320> mean

what i mean

what i mean yeah<00:13:23.680> recently<00:13:24.160> jeff<00:13:24.399> bezos<00:13:24.720> booked<00:13:24.959> the

yeah recently jeff bezos booked the

yeah recently jeff bezos booked the washington<00:13:25.440> post<00:13:25.760> right<00:13:26.079> and<00:13:26.240> then<00:13:26.320> suddenly

washington post right and then suddenly

washington post right and then suddenly the<00:13:27.120> washington<00:13:27.600> post<00:13:27.920> is<00:13:28.000> putting<00:13:28.320> out

the washington post is putting out

the washington post is putting out articles<00:13:28.800> that<00:13:28.959> oh<00:13:29.120> we<00:13:29.200> shouldn't<00:13:29.440> tax<00:13:29.680> the

articles that oh we shouldn't tax the

articles that oh we shouldn't tax the rich<00:13:30.160> you<00:13:30.240> know<00:13:30.399> what<00:13:30.480> i<00:13:30.560> mean<00:13:30.880> jeff<00:13:31.040> bezos

rich you know what i mean jeff bezos

rich you know what i mean jeff bezos being<00:13:31.519> rich<00:13:31.760> is<00:13:31.839> good<00:13:32.000> for<00:13:32.160> you<00:13:32.639> and<00:13:32.800> you<00:13:32.959> know

being rich is good for you and you know

being rich is good for you and you know look<00:13:33.519> at<00:13:33.600> who<00:13:33.839> owns<00:13:34.480> look<00:13:34.720> at<00:13:34.800> who<00:13:34.959> owns<00:13:35.279> the

look at who owns look at who owns the

look at who owns look at who owns the times<00:13:36.000> the<00:13:36.160> telegraph<00:13:36.800> the<00:13:36.959> daily<00:13:37.279> mail<00:13:37.600> it's

times the telegraph the daily mail it's

times the telegraph the daily mail it's all<00:13:38.160> super<00:13:38.480> super<00:13:38.720> super<00:13:38.959> rich<00:13:39.120> people<00:13:39.360> right

all super super super rich people right

all super super super rich people right so<00:13:39.600> they're<00:13:39.760> sending<00:13:40.079> out<00:13:40.240> messages<00:13:40.639> to

so they're sending out messages to

so they're sending out messages to people<00:13:41.040> saying

people saying

people saying well<00:13:42.399> the<00:13:42.560> classic<00:13:42.959> one<00:13:43.120> which<00:13:43.199> you<00:13:43.279> see<00:13:43.360> in

well the classic one which you see in

well the classic one which you see in all<00:13:43.600> the<00:13:43.680> newspapers<00:13:44.240> is<00:13:44.639> oh<00:13:45.040> this<00:13:45.279> guy

all the newspapers is oh this guy

all the newspapers is oh this guy stopped<00:13:46.000> drinking<00:13:46.320> coffee<00:13:46.720> at<00:13:47.120> starbucks<00:13:47.680> he

stopped drinking coffee at starbucks he

stopped drinking coffee at starbucks he stopped<00:13:48.079> eating<00:13:48.240> avocado<00:13:48.800> toast<00:13:49.120> and<00:13:49.199> now

stopped eating avocado toast and now

stopped eating avocado toast and now he's<00:13:49.440> got<00:13:49.600> a<00:13:49.680> house<00:13:50.000> and<00:13:50.160> they<00:13:50.320> want<00:13:50.399> to<00:13:50.480> send

he's got a house and they want to send

he's got a house and they want to send this<00:13:50.880> message<00:13:51.279> to<00:13:51.360> you<00:13:51.519> that<00:13:51.920> the<00:13:52.079> reason<00:13:52.399> why

this message to you that the reason why

this message to you that the reason why young<00:13:52.880> people<00:13:53.120> and<00:13:53.199> to<00:13:53.360> be<00:13:53.440> honest<00:13:54.000> you<00:13:54.079> know

young people and to be honest you know

young people and to be honest you know this<00:13:54.480> message<00:13:54.800> is<00:13:54.959> actually<00:13:55.279> aimed<00:13:55.600> at<00:13:55.760> like

this message is actually aimed at like

this message is actually aimed at like older<00:13:56.240> people<00:13:56.560> saying<00:13:56.800> the<00:13:56.880> reason<00:13:57.120> that

older people saying the reason that

older people saying the reason that young<00:13:57.519> people<00:13:58.160> can't<00:13:58.320> afford<00:13:58.639> property<00:13:59.120> is

young people can't afford property is

young people can't afford property is just<00:13:59.360> because<00:13:59.600> they're<00:13:59.760> lazy

you<00:14:02.880> know

you know

you know of<00:14:03.839> course<00:14:04.160> like<00:14:04.399> you<00:14:04.480> know<00:14:04.639> you<00:14:04.800> love<00:14:05.040> young

of course like you know you love young

of course like you know you love young listeners<00:14:05.600> out<00:14:05.680> there<00:14:05.760> and<00:14:05.839> they<00:14:06.000> know<00:14:06.160> that's

listeners out there and they know that's

listeners out there and they know that's a<00:14:06.560> joke<00:14:06.880> but<00:14:07.360> that<00:14:07.519> message<00:14:07.920> goes<00:14:08.079> out<00:14:08.240> to

a joke but that message goes out to

a joke but that message goes out to their<00:14:08.560> parents<00:14:09.360> and<00:14:09.440> then<00:14:09.600> their<00:14:09.760> parents

their parents and then their parents

their parents and then their parents don't<00:14:10.480> realize<00:14:11.040> we're<00:14:11.199> creating<00:14:11.519> a<00:14:11.600> system

don't realize we're creating a system

don't realize we're creating a system where<00:14:12.000> it's<00:14:12.240> so<00:14:12.639> difficult<00:14:13.040> for<00:14:13.199> younger

where it's so difficult for younger

where it's so difficult for younger people<00:14:13.839> and<00:14:14.000> you<00:14:14.079> know<00:14:14.560> then<00:14:14.800> that<00:14:14.959> represents

people and you know then that represents

people and you know then that represents older<00:14:16.000> people<00:14:16.320> might<00:14:16.560> not<00:14:17.199> vote<00:14:17.440> for<00:14:17.600> parties

older people might not vote for parties

older people might not vote for parties that<00:14:18.000> want<00:14:18.079> to<00:14:18.160> make<00:14:18.320> things<00:14:18.639> fairer<00:14:18.959> or<00:14:19.120> they

that want to make things fairer or they

that want to make things fairer or they might<00:14:19.440> not<00:14:19.680> support<00:14:20.560> systems<00:14:20.959> to<00:14:21.120> make<00:14:21.279> things

might not support systems to make things

might not support systems to make things fair<00:14:21.680> or<00:14:21.760> to<00:14:21.839> increase<00:14:22.160> taxation<00:14:22.639> on<00:14:22.720> the<00:14:22.800> rich

fair or to increase taxation on the rich

fair or to increase taxation on the rich so

so

so obviously<00:14:24.800> you<00:14:24.959> know<00:14:25.360> i<00:14:25.519> make<00:14:25.760> videos<00:14:26.000> saying

obviously you know i make videos saying

obviously you know i make videos saying tax<00:14:26.560> to<00:14:26.639> rich<00:14:26.880> you<00:14:26.959> know<00:14:27.040> i<00:14:27.120> don't<00:14:27.279> get<00:14:27.440> no

tax to rich you know i don't get no

tax to rich you know i don't get no funding<00:14:27.839> from<00:14:28.000> richard<00:14:28.320> branson<00:14:28.639> for<00:14:28.800> that

funding from richard branson for that

funding from richard branson for that you<00:14:28.959> know<00:14:29.040> what<00:14:29.120> i<00:14:29.199> mean<00:14:29.440> i<00:14:29.519> don't<00:14:29.680> get<00:14:29.839> a<00:14:29.920> funny

you know what i mean i don't get a funny

you know what i mean i don't get a funny flip<00:14:30.399> of<00:14:30.480> murdock<00:14:30.800> but<00:14:30.959> the<00:14:31.040> super

flip of murdock but the super

flip of murdock but the super billionaires<00:14:32.160> they<00:14:32.399> fund<00:14:32.639> think<00:14:32.800> tanks<00:14:33.040> to

billionaires they fund think tanks to

billionaires they fund think tanks to say<00:14:33.279> don't<00:14:33.519> tax<00:14:33.760> the<00:14:33.839> rich<00:14:34.079> you<00:14:34.160> know<00:14:34.320> so<00:14:34.800> they

say don't tax the rich you know so they

say don't tax the rich you know so they send<00:14:35.279> messages<00:14:35.760> out<00:14:35.920> there<00:14:36.079> just<00:14:36.320> telling

send messages out there just telling

send messages out there just telling people

people

people look<00:14:37.839> just<00:14:38.079> work<00:14:38.399> hard<00:14:38.880> and<00:14:39.040> you'll<00:14:39.279> be<00:14:39.440> fine

look just work hard and you'll be fine

look just work hard and you'll be fine and

and

and then<00:14:41.199> they<00:14:41.360> want<00:14:41.440> you<00:14:41.519> to<00:14:41.680> spend<00:14:41.839> it<00:14:42.000> all<00:14:42.240> in<00:14:42.320> um

then they want you to spend it all in um

then they want you to spend it all in um louis<00:14:43.040> vuitton<00:14:43.360> you<00:14:43.519> know<00:14:43.600> what<00:14:43.600> i<00:14:43.680> mean

louis vuitton you know what i mean

louis vuitton you know what i mean because<00:14:44.480> they<00:14:44.800> what<00:14:44.959> they<00:14:45.199> want<00:14:45.600> is<00:14:45.760> your

because they what they want is your

because they what they want is your assets<00:14:46.320> you<00:14:46.399> know<00:14:46.720> they<00:14:46.880> want<00:14:47.040> to<00:14:47.199> own<00:14:47.600> the

assets you know they want to own the

assets you know they want to own the things<00:14:48.000> that<00:14:48.079> you<00:14:48.240> want<00:14:48.480> and<00:14:48.720> that's<00:14:49.040> not

things that you want and that's not

things that you want and that's not because<00:14:49.839> rich<00:14:50.079> people<00:14:50.320> are<00:14:50.480> evil<00:14:50.720> or<00:14:50.800> rich

because rich people are evil or rich

because rich people are evil or rich people<00:14:51.120> are<00:14:51.199> terrible<00:14:51.760> i<00:14:51.839> totally<00:14:52.079> don't

people are terrible i totally don't

people are terrible i totally don't believe<00:14:52.480> that<00:14:52.639> but<00:14:52.959> you<00:14:53.040> know<00:14:53.199> i've<00:14:53.360> been<00:14:53.600> poor

believe that but you know i've been poor

believe that but you know i've been poor and<00:14:53.920> i've<00:14:54.079> been<00:14:54.320> rich<00:14:54.560> and<00:14:54.639> the<00:14:54.720> fact<00:14:55.040> is

and i've been rich and the fact is

and i've been rich and the fact is once<00:14:56.320> rich<00:14:56.560> people<00:14:56.800> have<00:14:57.040> very<00:14:57.199> high<00:14:57.279> levels

once rich people have very high levels

once rich people have very high levels of<00:14:57.680> wealth

of wealth

of wealth that<00:14:59.199> generates<00:15:00.000> a<00:15:00.160> huge<00:15:00.399> amount<00:15:00.639> of<00:15:00.720> income

that generates a huge amount of income

that generates a huge amount of income yeah<00:15:01.360> exactly<00:15:01.760> and<00:15:01.839> that<00:15:02.160> is<00:15:02.320> the<00:15:02.399> sort<00:15:02.560> of<00:15:02.639> the

yeah exactly and that is the sort of the

yeah exactly and that is the sort of the second<00:15:03.120> key<00:15:03.440> point<00:15:03.920> that<00:15:04.079> i<00:15:04.160> want<00:15:04.320> to<00:15:04.399> make

second key point that i want to make

second key point that i want to make that<00:15:05.199> i<00:15:05.279> want<00:15:05.600> people<00:15:05.760> to<00:15:05.920> understand<00:15:06.639> is<00:15:06.800> that

that i want people to understand is that

that i want people to understand is that once

once

once you<00:15:09.760> own<00:15:10.000> wealth<00:15:10.320> or<00:15:10.480> own<00:15:10.639> large<00:15:10.880> amounts<00:15:11.199> of

you own wealth or own large amounts of

you own wealth or own large amounts of wealth<00:15:11.519> that<00:15:11.600> starts<00:15:11.920> to<00:15:12.000> generate<00:15:12.320> an<00:15:12.480> income

wealth that starts to generate an income

wealth that starts to generate an income and<00:15:13.120> that<00:15:13.360> income<00:15:13.680> can<00:15:13.839> be<00:15:14.000> enormous<00:15:14.480> right

and that income can be enormous right

and that income can be enormous right and<00:15:15.040> you<00:15:15.199> know<00:15:15.279> for<00:15:15.519> ordinary<00:15:16.000> people<00:15:16.320> that

and you know for ordinary people that

and you know for ordinary people that you<00:15:16.560> know<00:15:16.800> might<00:15:17.040> be<00:15:17.440> trying<00:15:17.680> to<00:15:17.760> save<00:15:18.000> up<00:15:18.160> 20

you know might be trying to save up 20

you know might be trying to save up 20 grand<00:15:18.720> 50<00:15:19.040> grand<00:15:19.360> 100<00:15:19.680> grand<00:15:19.839> if<00:15:20.000> they're

grand 50 grand 100 grand if they're

grand 50 grand 100 grand if they're lucky<00:15:20.320> to<00:15:20.399> buy<00:15:20.560> a<00:15:20.639> house<00:15:21.279> those<00:15:21.600> are<00:15:21.680> not<00:15:21.760> going

lucky to buy a house those are not going

lucky to buy a house those are not going to<00:15:21.920> generate<00:15:22.240> huge<00:15:22.480> amounts<00:15:22.720> of<00:15:22.800> wealth<00:15:23.040> but

to generate huge amounts of wealth but

to generate huge amounts of wealth but very<00:15:23.440> wealthy<00:15:23.839> people<00:15:24.000> you<00:15:24.079> know<00:15:24.160> if

very wealthy people you know if

very wealthy people you know if somebody's<00:15:24.560> got<00:15:24.800> 2<00:15:24.959> million<00:15:25.360> pounds

somebody's got 2 million pounds

somebody's got 2 million pounds that<00:15:26.720> wealth<00:15:26.959> will<00:15:27.040> generate<00:15:27.360> an<00:15:27.519> income

that wealth will generate an income

that wealth will generate an income maybe<00:15:28.240> if<00:15:28.399> you've<00:15:28.480> got<00:15:28.560> 2<00:15:28.720> million<00:15:29.040> pounds

maybe if you've got 2 million pounds

maybe if you've got 2 million pounds you'll<00:15:29.759> probably<00:15:30.079> be<00:15:30.240> generating<00:15:30.720> 50<00:15:31.040> 60

you'll probably be generating 50 60

you'll probably be generating 50 60 grand<00:15:31.600> a<00:15:31.680> year<00:15:31.839> off<00:15:31.920> that<00:15:32.079> 2<00:15:32.240> million<00:15:32.480> pounds

grand a year off that 2 million pounds

grand a year off that 2 million pounds if<00:15:33.279> you've<00:15:33.440> got<00:15:33.600> 10<00:15:33.839> million<00:15:34.240> pounds<00:15:34.480> well

if you've got 10 million pounds well

if you've got 10 million pounds well you'll<00:15:34.800> be<00:15:35.120> making<00:15:35.360> like<00:15:35.600> 300<00:15:36.079> grand<00:15:36.320> a<00:15:36.399> year

you'll be making like 300 grand a year

you'll be making like 300 grand a year right<00:15:36.880> if<00:15:36.959> you're<00:15:37.199> jeff<00:15:37.519> bezos<00:15:38.000> you've<00:15:38.079> got

right if you're jeff bezos you've got

right if you're jeff bezos you've got 200<00:15:38.720> billion<00:15:38.959> dollars<00:15:39.680> then<00:15:39.839> he's<00:15:40.000> probably

200 billion dollars then he's probably

200 billion dollars then he's probably making<00:15:40.480> he's<00:15:40.639> making<00:15:40.880> about<00:15:41.279> six

making he's making about six

making he's making about six billion<00:15:42.480> dollars<00:15:42.800> a<00:15:42.880> year<00:15:43.040> right<00:15:43.199> what<00:15:43.360> is

billion dollars a year right what is

billion dollars a year right what is that<00:15:43.600> that's<00:15:43.759> something<00:15:44.079> like<00:15:44.720> 20<00:15:44.959> million

that that's something like 20 million

that that's something like 20 million dollars<00:15:45.680> every<00:15:46.000> day<00:15:46.320> or<00:15:46.399> something<00:15:46.720> like<00:15:46.880> that

dollars every day or something like that

dollars every day or something like that right<00:15:47.519> so

right so

right so once<00:15:48.800> people<00:15:49.120> become<00:15:49.360> very<00:15:49.600> rich<00:15:49.839> they

once people become very rich they

once people become very rich they generate<00:15:50.320> huge<00:15:50.560> amounts<00:15:50.880> of<00:15:50.959> income<00:15:51.279> not<00:15:51.440> by

generate huge amounts of income not by

generate huge amounts of income not by working<00:15:52.240> just<00:15:52.399> because<00:15:52.639> they<00:15:52.880> own<00:15:53.120> those

working just because they own those

working just because they own those assets<00:15:53.920> right

assets right

assets right and<00:15:55.040> you<00:15:55.120> know<00:15:55.279> if<00:15:55.360> you<00:15:55.519> are<00:15:55.600> making<00:15:56.320> 300<00:15:56.800> grand

and you know if you are making 300 grand

and you know if you are making 300 grand a<00:15:57.199> year<00:15:57.759> just<00:15:57.920> for<00:15:58.000> getting<00:15:58.240> out<00:15:58.399> of<00:15:58.480> bed

a year just for getting out of bed

a year just for getting out of bed because<00:15:58.880> you<00:15:59.040> own<00:15:59.360> wealth<00:15:59.680> because<00:15:59.920> you<00:16:00.079> own

because you own wealth because you own

because you own wealth because you own assets<00:16:00.880> and<00:16:01.040> remember<00:16:01.360> that's<00:16:01.600> real<00:16:01.839> things

assets and remember that's real things

assets and remember that's real things properties<00:16:02.720> supermarkets<00:16:03.839> office<00:16:04.160> buildings

properties supermarkets office buildings

properties supermarkets office buildings but<00:16:05.279> what<00:16:05.440> will<00:16:05.519> you<00:16:05.680> do<00:16:05.839> you<00:16:05.920> know<00:16:06.000> if<00:16:06.079> you're

but what will you do you know if you're

but what will you do you know if you're making<00:16:06.480> 300<00:16:06.880> grand<00:16:07.120> a<00:16:07.199> year<00:16:07.680> without<00:16:08.000> working

making 300 grand a year without working

making 300 grand a year without working you're<00:16:08.880> not<00:16:09.040> going<00:16:09.120> to<00:16:09.199> spend<00:16:09.440> 300<00:16:09.759> grand<00:16:09.920> a

you're not going to spend 300 grand a

you're not going to spend 300 grand a year<00:16:10.160> you're<00:16:10.240> going<00:16:10.320> to<00:16:10.480> spend

year you're going to spend

year you're going to spend 100<00:16:11.759> grand<00:16:12.079> you<00:16:12.160> can<00:16:12.240> live<00:16:12.399> a<00:16:12.480> great<00:16:12.639> life

100 grand you can live a great life

100 grand you can live a great life spend<00:16:13.199> 100<00:16:13.519> grand<00:16:13.680> a<00:16:13.759> year<00:16:14.000> and<00:16:14.079> you're<00:16:14.160> going

spend 100 grand a year and you're going

spend 100 grand a year and you're going to<00:16:14.320> use<00:16:14.480> that<00:16:14.639> 200<00:16:15.120> grand<00:16:15.279> to<00:16:15.360> buy<00:16:15.600> other

to use that 200 grand to buy other

to use that 200 grand to buy other assets<00:16:16.480> so<00:16:16.720> they<00:16:17.040> that's<00:16:17.279> what<00:16:17.360> they<00:16:17.519> do<00:16:17.759> and

assets so they that's what they do and

assets so they that's what they do and that's<00:16:18.079> what<00:16:18.240> they<00:16:18.399> do<00:16:18.560> 100<00:16:18.959> percent<00:16:19.199> that's

that's what they do 100 percent that's

that's what they do 100 percent that's what<00:16:19.440> they<00:16:20.000> need<00:16:20.160> to<00:16:20.240> reinvest<00:16:20.959> yeah<00:16:21.199> and

what they need to reinvest yeah and

what they need to reinvest yeah and that's<00:16:21.519> what<00:16:21.839> you<00:16:21.920> know<00:16:22.160> that's<00:16:22.399> what<00:16:22.560> i<00:16:22.639> do

that's what you know that's what i do

that's what you know that's what i do you<00:16:22.880> know<00:16:23.040> i<00:16:23.279> made<00:16:23.519> money<00:16:23.759> trading<00:16:24.240> and<00:16:24.320> now

you know i made money trading and now

you know i made money trading and now i'm<00:16:24.880> relatively<00:16:25.360> wealthy<00:16:25.680> and<00:16:25.839> i'm<00:16:26.079> an

i'm relatively wealthy and i'm an

i'm relatively wealthy and i'm an investor<00:16:26.560> and<00:16:26.720> i<00:16:26.959> spend<00:16:27.279> the<00:16:27.440> part<00:16:27.600> of<00:16:27.680> what<00:16:27.839> i

investor and i spend the part of what i

investor and i spend the part of what i make<00:16:28.160> and<00:16:28.240> live<00:16:28.399> off<00:16:28.560> it<00:16:28.639> and<00:16:28.720> the<00:16:28.800> rest<00:16:29.040> i

make and live off it and the rest i

make and live off it and the rest i invest<00:16:29.440> you<00:16:29.440> know<00:16:29.600> that's<00:16:30.160> it's<00:16:30.240> not<00:16:30.399> the<00:16:30.480> rich

invest you know that's it's not the rich

invest you know that's it's not the rich people<00:16:30.880> are<00:16:31.040> evil<00:16:31.199> it's<00:16:31.279> just<00:16:31.519> they're<00:16:31.680> rich

people are evil it's just they're rich

people are evil it's just they're rich because<00:16:32.800> once<00:16:33.040> you<00:16:33.199> are<00:16:33.360> rich<00:16:33.680> you<00:16:33.759> generate<00:16:34.079> a

because once you are rich you generate a

because once you are rich you generate a huge<00:16:34.399> income<00:16:34.720> and<00:16:34.800> then<00:16:34.959> it's<00:16:35.040> very<00:16:35.360> easy<00:16:35.920> for

huge income and then it's very easy for

huge income and then it's very easy for you<00:16:36.079> to<00:16:36.399> purchase<00:16:36.880> assets<00:16:37.279> but<00:16:37.440> the<00:16:37.519> problem

you to purchase assets but the problem

you to purchase assets but the problem is

is

is ordinary<00:16:39.440> people<00:16:39.759> who<00:16:40.000> don't<00:16:40.240> have<00:16:40.399> that

ordinary people who don't have that

ordinary people who don't have that wealth<00:16:40.800> need<00:16:40.959> those<00:16:41.120> assets<00:16:41.519> too<00:16:41.920> and<00:16:42.079> the

wealth need those assets too and the

wealth need those assets too and the most<00:16:42.480> obvious<00:16:42.720> example<00:16:43.040> of<00:16:43.199> that<00:16:43.279> is<00:16:43.360> housing

most obvious example of that is housing

most obvious example of that is housing but<00:16:44.560> it's<00:16:44.720> important<00:16:45.040> to<00:16:45.120> understand<00:16:45.440> that

but it's important to understand that

but it's important to understand that income<00:16:45.839> that<00:16:46.000> they<00:16:46.160> make<00:16:46.720> it<00:16:46.880> don't<00:16:47.040> come<00:16:47.279> out

income that they make it don't come out

income that they make it don't come out of<00:16:47.440> thin<00:16:47.680> air<00:16:48.240> so<00:16:48.399> when<00:16:48.560> you<00:16:48.639> go<00:16:48.800> to<00:16:48.959> tesco<00:16:49.759> some

of thin air so when you go to tesco some

of thin air so when you go to tesco some of<00:16:50.000> that<00:16:50.160> money<00:16:50.399> goes<00:16:50.639> to<00:16:50.720> the<00:16:50.800> workers<00:16:51.120> in

of that money goes to the workers in

of that money goes to the workers in tesco<00:16:51.920> but<00:16:52.240> some<00:16:52.399> of<00:16:52.560> it<00:16:52.639> goes<00:16:52.880> to<00:16:52.959> the<00:16:53.120> dude

tesco but some of it goes to the dude

tesco but some of it goes to the dude who<00:16:53.519> owns<00:16:53.839> tesco<00:16:54.399> and<00:16:54.560> the<00:16:54.639> dude<00:16:54.880> who<00:16:54.959> owns

who owns tesco and the dude who owns

who owns tesco and the dude who owns that<00:16:55.440> building<00:16:55.839> you<00:16:55.920> know<00:16:56.000> what<00:16:56.079> i<00:16:56.160> mean<00:16:56.399> yeah

that building you know what i mean yeah

that building you know what i mean yeah and<00:16:56.720> this<00:16:56.959> is<00:16:57.040> the<00:16:57.120> same<00:16:57.279> for<00:16:57.519> every<00:16:57.839> single

and this is the same for every single

and this is the same for every single thing<00:16:58.240> that<00:16:58.399> you<00:16:58.480> do<00:16:58.639> when<00:16:58.800> you<00:16:58.880> go<00:16:59.040> to<00:16:59.199> the

thing that you do when you go to the

thing that you do when you go to the barbers<00:16:59.680> right<00:16:59.839> somebody<00:17:00.320> goes<00:17:00.480> to<00:17:00.560> the

barbers right somebody goes to the

barbers right somebody goes to the barber<00:17:01.279> and<00:17:01.360> some<00:17:01.519> of<00:17:01.600> them<00:17:01.759> when<00:17:01.839> it<00:17:01.920> goes<00:17:02.079> to

barber and some of them when it goes to

barber and some of them when it goes to the<00:17:02.320> owner<00:17:02.560> of<00:17:02.720> the<00:17:02.800> building<00:17:03.600> and<00:17:04.000> when<00:17:04.160> you

the owner of the building and when you

the owner of the building and when you work<00:17:04.559> when<00:17:04.720> you<00:17:04.799> go<00:17:04.959> to<00:17:05.039> work<00:17:05.280> in<00:17:05.360> an<00:17:05.439> office

work when you go to work in an office

work when you go to work in an office building<00:17:06.160> some<00:17:06.319> of<00:17:06.400> your<00:17:06.559> wage<00:17:06.799> goes<00:17:06.959> to<00:17:07.120> the

building some of your wage goes to the

building some of your wage goes to the owner<00:17:07.520> of<00:17:07.600> that<00:17:07.839> building<00:17:08.160> so<00:17:08.400> and<00:17:08.559> you<00:17:08.640> know

owner of that building so and you know

owner of that building so and you know you<00:17:09.760> see<00:17:09.919> this<00:17:10.079> all<00:17:10.160> the<00:17:10.240> time<00:17:10.400> so<00:17:10.880> the<00:17:11.039> money

you see this all the time so the money

you see this all the time so the money that<00:17:11.360> goes<00:17:11.600> to<00:17:11.679> your<00:17:11.839> mortgage<00:17:12.240> you<00:17:12.319> don't

that goes to your mortgage you don't

that goes to your mortgage you don't disappear<00:17:13.039> it<00:17:13.120> goes<00:17:13.280> to<00:17:13.360> the<00:17:13.439> owners<00:17:13.679> of<00:17:13.760> the

disappear it goes to the owners of the

disappear it goes to the owners of the mortgage<00:17:14.240> the<00:17:14.400> money<00:17:14.640> that<00:17:14.720> goes<00:17:15.120> on<00:17:15.199> your

mortgage the money that goes on your

mortgage the money that goes on your rent<00:17:15.600> it<00:17:15.679> don't<00:17:15.839> disappear<00:17:16.160> it<00:17:16.240> goes<00:17:16.400> to<00:17:16.480> the

rent it don't disappear it goes to the

rent it don't disappear it goes to the owner<00:17:16.799> of<00:17:16.880> the<00:17:16.959> property<00:17:17.360> right<00:17:17.600> so

owner of the property right so

owner of the property right so when<00:17:19.199> you<00:17:19.360> have<00:17:19.520> this<00:17:19.839> large<00:17:20.160> amount<00:17:20.319> of

when you have this large amount of

when you have this large amount of inequality<00:17:20.880> in<00:17:20.959> wealth<00:17:21.439> it<00:17:21.600> generates

inequality in wealth it generates

inequality in wealth it generates a<00:17:23.039> massive<00:17:23.439> flow<00:17:23.679> of<00:17:23.919> income<00:17:24.640> from<00:17:24.880> ordinary

a massive flow of income from ordinary

a massive flow of income from ordinary people<00:17:25.839> who<00:17:26.000> need<00:17:26.160> to<00:17:26.240> live<00:17:26.480> in<00:17:26.559> those<00:17:26.799> houses

people who need to live in those houses

people who need to live in those houses who<00:17:27.600> need<00:17:27.760> to<00:17:27.919> eat<00:17:28.160> the<00:17:28.319> food<00:17:28.799> who<00:17:28.960> need<00:17:29.120> to<00:17:29.200> go

who need to eat the food who need to go

who need to eat the food who need to go to<00:17:29.520> the<00:17:29.600> supermarket<00:17:30.400> who<00:17:30.559> need<00:17:30.640> to<00:17:30.720> pay<00:17:30.880> for

to the supermarket who need to pay for

to the supermarket who need to pay for their<00:17:31.120> bills<00:17:31.600> that<00:17:31.840> goes<00:17:32.160> to<00:17:32.240> the<00:17:32.320> owners<00:17:32.640> of

their bills that goes to the owners of

their bills that goes to the owners of the<00:17:32.799> assets<00:17:33.200> right<00:17:33.600> so<00:17:33.760> it<00:17:33.919> creates<00:17:34.320> this

the assets right so it creates this

the assets right so it creates this massive<00:17:35.039> flow<00:17:35.360> so<00:17:35.520> the<00:17:35.600> system<00:17:35.919> as<00:17:36.080> it<00:17:36.240> is<00:17:36.880> it

massive flow so the system as it is it

massive flow so the system as it is it works<00:17:37.440> really<00:17:37.600> really<00:17:37.840> well<00:17:38.000> for<00:17:38.160> the<00:17:38.320> rich

works really really well for the rich

works really really well for the rich and<00:17:38.720> they<00:17:38.880> want<00:17:39.039> you<00:17:39.280> to

and they want you to

and they want you to be<00:17:40.480> happy<00:17:40.720> with<00:17:40.960> it<00:17:41.120> and<00:17:41.200> accept<00:17:41.600> it<00:17:41.679> and<00:17:41.760> they

be happy with it and accept it and they

be happy with it and accept it and they don't<00:17:42.000> want<00:17:42.080> you<00:17:42.240> to<00:17:42.320> really<00:17:42.640> know<00:17:43.280> i<00:17:43.360> think

don't want you to really know i think

don't want you to really know i think they're<00:17:43.919> really<00:17:44.160> happy<00:17:44.480> with<00:17:44.559> people<00:17:44.799> not

they're really happy with people not

they're really happy with people not realizing<00:17:45.440> that<00:17:45.840> they<00:17:46.080> own<00:17:46.320> the<00:17:46.480> skyscrapers

realizing that they own the skyscrapers

realizing that they own the skyscrapers and<00:17:47.280> they<00:17:47.360> own<00:17:47.600> the<00:17:47.679> shops<00:17:48.000> because<00:17:48.240> otherwise

and they own the shops because otherwise

and they own the shops because otherwise people<00:17:48.720> would<00:17:48.880> say<00:17:49.039> hey<00:17:49.280> like

people would say hey like

people would say hey like why<00:17:50.400> don't<00:17:50.559> we<00:17:50.799> get<00:17:50.960> a<00:17:51.039> share<00:17:51.200> of<00:17:51.280> this<00:17:51.760> why

why don't we get a share of this why

why don't we get a share of this why can't<00:17:52.160> we<00:17:52.320> own<00:17:52.480> a<00:17:52.559> bit<00:17:52.640> of<00:17:52.799> this<00:17:52.880> you<00:17:52.960> know<00:17:53.039> i

can't we own a bit of this you know i

can't we own a bit of this you know i mean<00:17:53.360> so<00:17:53.840> of<00:17:54.000> course<00:17:54.240> they're<00:17:54.400> like<00:17:54.720> totally

mean so of course they're like totally

mean so of course they're like totally happy<00:17:55.919> with<00:17:56.160> things<00:17:56.400> being<00:17:56.640> this<00:17:56.880> way<00:17:57.200> and

happy with things being this way and

happy with things being this way and as<00:17:58.720> it<00:17:58.799> goes

as it goes

as it goes ordinary<00:18:00.240> people<00:18:00.799> get<00:18:00.960> their<00:18:01.120> wages<00:18:02.080> they

ordinary people get their wages they

ordinary people get their wages they give<00:18:02.400> it<00:18:02.480> to<00:18:02.640> those<00:18:02.720> rich<00:18:02.960> guys<00:18:03.200> and<00:18:03.280> the<00:18:03.360> rich

give it to those rich guys and the rich

give it to those rich guys and the rich people<00:18:03.679> use<00:18:03.840> it<00:18:03.919> to<00:18:04.000> buy<00:18:04.160> ordinary<00:18:04.559> people's

people use it to buy ordinary people's

people use it to buy ordinary people's houses<00:18:05.200> and<00:18:05.280> then<00:18:05.440> ordinary<00:18:05.840> people's<00:18:06.080> kids

houses and then ordinary people's kids

houses and then ordinary people's kids can't<00:18:06.400> buy<00:18:06.559> houses<00:18:06.880> so<00:18:07.039> that's<00:18:07.360> the<00:18:07.520> problem

can't buy houses so that's the problem

can't buy houses so that's the problem um<00:18:08.720> so<00:18:08.880> yeah<00:18:09.360> definitely<00:18:09.679> there's<00:18:09.919> the

um so yeah definitely there's the

um so yeah definitely there's the informational<00:18:10.480> problem<00:18:10.880> that's<00:18:11.120> why<00:18:11.280> i'm

informational problem that's why i'm

informational problem that's why i'm here<00:18:11.520> you<00:18:11.600> know<00:18:11.679> that's<00:18:11.840> why<00:18:12.000> you<00:18:12.160> do<00:18:12.320> what<00:18:12.400> you

here you know that's why you do what you

here you know that's why you do what you do<00:18:13.760> um

do um

do um but<00:18:14.880> there's<00:18:15.120> also<00:18:15.280> a<00:18:15.360> systemic<00:18:15.760> problem<00:18:16.000> but

but there's also a systemic problem but

but there's also a systemic problem but then<00:18:16.400> you<00:18:16.480> know

then you know

then you know you<00:18:18.000> also<00:18:18.240> sort<00:18:18.320> of<00:18:18.480> ask<00:18:18.640> the<00:18:18.720> question<00:18:18.960> of<00:18:19.039> you

you also sort of ask the question of you

you also sort of ask the question of you know<00:18:19.280> what<00:18:19.600> can<00:18:20.000> what<00:18:20.160> can<00:18:20.320> people<00:18:20.720> do

know what can what can people do

know what can what can people do um<00:18:21.919> you<00:18:22.000> know<00:18:22.240> i<00:18:22.320> think<00:18:22.480> a<00:18:22.559> big<00:18:22.720> part<00:18:22.880> of<00:18:23.120> what

um you know i think a big part of what

um you know i think a big part of what you<00:18:23.440> do<00:18:23.600> and<00:18:23.760> that's<00:18:23.919> what<00:18:24.080> we're<00:18:24.160> talking

you do and that's what we're talking

you do and that's what we're talking about<00:18:24.640> today<00:18:25.039> is

about today is

about today is people<00:18:26.080> need<00:18:26.240> to<00:18:26.400> understand<00:18:26.720> that<00:18:26.880> what's

people need to understand that what's

people need to understand that what's out<00:18:27.280> there<00:18:27.440> you<00:18:27.600> know<00:18:27.679> i<00:18:27.840> always<00:18:28.160> call<00:18:28.320> for

out there you know i always call for

out there you know i always call for systemic<00:18:28.880> change<00:18:29.120> but<00:18:29.360> you<00:18:29.440> know<00:18:30.080> this<00:18:30.320> is<00:18:30.400> an

systemic change but you know this is an

systemic change but you know this is an investment<00:18:30.880> channel<00:18:31.120> you<00:18:31.200> talk<00:18:31.360> about

investment channel you talk about

investment channel you talk about investment<00:18:31.919> advice<00:18:32.320> so<00:18:32.480> if<00:18:32.640> people

investment advice so if people

investment advice so if people understand

understand

understand that<00:18:34.400> wealth<00:18:34.720> exists

that wealth exists

that wealth exists um

um

um that<00:18:37.440> it<00:18:37.600> means

that it means

that it means that<00:18:38.960> wealthy<00:18:39.280> people<00:18:39.520> generate<00:18:39.840> an<00:18:40.000> income

that wealthy people generate an income

that wealthy people generate an income from<00:18:40.400> the<00:18:40.480> rest<00:18:40.720> of<00:18:40.880> us<00:18:41.039> then<00:18:41.360> they<00:18:41.600> need<00:18:41.840> to<00:18:41.919> do

from the rest of us then they need to do

from the rest of us then they need to do what<00:18:42.240> they<00:18:42.400> can

what they can

what they can and<00:18:43.919> i'm<00:18:44.080> saying<00:18:44.320> this<00:18:44.480> was<00:18:44.640> a<00:18:44.799> total

and i'm saying this was a total

and i'm saying this was a total understanding<00:18:45.679> of<00:18:45.760> how<00:18:46.000> difficult<00:18:46.400> it<00:18:46.480> can<00:18:46.720> be

understanding of how difficult it can be

understanding of how difficult it can be and<00:18:47.120> how<00:18:47.280> difficult<00:18:47.600> it<00:18:47.679> is<00:18:47.760> for<00:18:47.840> ordinary

and how difficult it is for ordinary

and how difficult it is for ordinary people<00:18:49.039> they<00:18:49.200> need<00:18:49.360> to<00:18:49.520> understand<00:18:50.080> that

people they need to understand that

people they need to understand that your<00:18:51.280> only<00:18:51.600> way<00:18:51.760> to<00:18:51.919> get<00:18:52.080> yourself<00:18:52.400> to

your only way to get yourself to

your only way to get yourself to financial<00:18:52.960> security

financial security

financial security of<00:18:54.640> course<00:18:54.880> you<00:18:54.960> do<00:18:55.120> need<00:18:55.200> to<00:18:55.280> get<00:18:55.360> a<00:18:55.440> good<00:18:55.520> job

of course you do need to get a good job

of course you do need to get a good job if<00:18:55.760> you<00:18:55.919> can<00:18:56.160> and<00:18:56.240> you<00:18:56.320> need<00:18:56.400> to<00:18:56.480> try<00:18:56.559> and<00:18:56.640> get

if you can and you need to try and get

if you can and you need to try and get your<00:18:56.880> kids<00:18:57.039> in<00:18:57.120> the<00:18:57.200> good<00:18:57.280> jobs<00:18:57.440> if<00:18:57.520> you<00:18:57.600> can

your kids in the good jobs if you can

your kids in the good jobs if you can because<00:18:58.080> you<00:18:58.160> need<00:18:58.320> the<00:18:58.480> income<00:18:58.799> yeah<00:18:58.960> yeah

because you need the income yeah yeah

because you need the income yeah yeah exactly<00:18:59.600> you<00:18:59.679> know<00:19:00.000> you<00:19:00.160> can't<00:19:00.400> get<00:19:00.559> the

exactly you know you can't get the

exactly you know you can't get the wealth<00:19:00.960> until<00:19:01.200> you<00:19:01.280> have<00:19:01.440> the<00:19:01.520> income<00:19:01.840> it's

wealth until you have the income it's

wealth until you have the income it's not<00:19:02.080> you're<00:19:02.240> going<00:19:02.320> to<00:19:02.400> get<00:19:02.480> out<00:19:02.559> of<00:19:02.720> nowhere

not you're going to get out of nowhere

not you're going to get out of nowhere but<00:19:03.360> then<00:19:03.440> once<00:19:03.600> you<00:19:03.679> have<00:19:03.840> that<00:19:04.000> income<00:19:04.320> yeah

but then once you have that income yeah

but then once you have that income yeah you<00:19:04.640> need<00:19:04.799> to<00:19:04.960> look<00:19:05.200> towards<00:19:05.840> doing<00:19:06.400> what<00:19:06.640> they

you need to look towards doing what they

you need to look towards doing what they do

do

do building<00:19:08.240> wealth<00:19:08.799> and<00:19:09.360> you<00:19:09.520> know<00:19:10.000> the<00:19:10.160> first

building wealth and you know the first

building wealth and you know the first thing<00:19:10.559> for<00:19:10.720> most<00:19:10.880> people<00:19:11.120> is<00:19:11.360> as<00:19:11.520> i've<00:19:11.679> said<00:19:11.919> as

thing for most people is as i've said as

thing for most people is as i've said as you've<00:19:12.240> said<00:19:12.880> get<00:19:13.039> that<00:19:13.200> property<00:19:13.600> get<00:19:13.760> that

you've said get that property get that

you've said get that property get that ownership<00:19:14.559> and<00:19:14.720> it's<00:19:14.880> important<00:19:15.120> to

ownership and it's important to

ownership and it's important to understand<00:19:15.520> if<00:19:15.679> you<00:19:15.760> get<00:19:15.840> a<00:19:15.919> property<00:19:16.240> with<00:19:16.400> a

understand if you get a property with a

understand if you get a property with a mortgage

mortgage

mortgage you<00:19:17.679> know<00:19:17.840> if<00:19:17.919> you<00:19:18.000> own<00:19:18.240> like<00:19:18.400> a<00:19:18.480> 300<00:19:18.880> grand

you know if you own like a 300 grand

you know if you own like a 300 grand property<00:19:19.919> and<00:19:20.000> you've<00:19:20.160> got<00:19:20.240> 250<00:19:20.799> grand

property and you've got 250 grand

property and you've got 250 grand mortgage<00:19:21.840> really<00:19:22.080> effectively

mortgage really effectively

mortgage really effectively the<00:19:23.360> rich<00:19:23.600> guy<00:19:23.760> is<00:19:23.840> still<00:19:24.000> on<00:19:24.160> your<00:19:24.240> house

the rich guy is still on your house

the rich guy is still on your house because<00:19:24.960> you<00:19:25.039> know<00:19:25.360> they<00:19:25.600> own<00:19:25.760> like<00:19:26.000> five<00:19:26.320> six

because you know they own like five six

because you know they own like five six of<00:19:26.720> your<00:19:26.880> house<00:19:27.120> right<00:19:27.360> so<00:19:27.760> get<00:19:27.919> that<00:19:28.160> property

of your house right so get that property

of your house right so get that property pay<00:19:29.039> the<00:19:29.200> mortgage<00:19:29.600> down<00:19:30.080> get<00:19:30.240> that<00:19:30.400> financial

pay the mortgage down get that financial

pay the mortgage down get that financial security<00:19:31.200> for<00:19:31.360> yourself<00:19:31.760> try<00:19:31.919> and<00:19:32.080> do<00:19:32.240> that

security for yourself try and do that

security for yourself try and do that for<00:19:32.480> your<00:19:32.799> children<00:19:33.120> you<00:19:33.280> know<00:19:33.360> and<00:19:33.440> that's<00:19:33.840> um

for your children you know and that's um

for your children you know and that's um it's<00:19:34.960> difficult<00:19:35.600> but<00:19:35.760> that's<00:19:35.919> what<00:19:36.080> you<00:19:36.160> need

it's difficult but that's what you need

it's difficult but that's what you need to<00:19:36.400> do<00:19:36.559> but<00:19:36.720> you<00:19:36.799> know<00:19:37.360> this<00:19:37.600> balance<00:19:38.000> and

to do but you know this balance and

to do but you know this balance and we'll<00:19:38.160> talk<00:19:38.320> about<00:19:38.559> it<00:19:38.720> more<00:19:38.960> is

we'll talk about it more is

we'll talk about it more is what<00:19:40.000> i<00:19:40.160> always<00:19:40.400> talk<00:19:40.640> about<00:19:40.880> is

what i always talk about is

what i always talk about is we<00:19:41.840> have<00:19:42.000> this<00:19:42.160> systemic<00:19:42.640> problem<00:19:43.280> where

we have this systemic problem where

we have this systemic problem where because<00:19:44.240> we're<00:19:44.400> allowing<00:19:44.799> the<00:19:44.880> rich<00:19:45.120> to<00:19:45.200> get

because we're allowing the rich to get

because we're allowing the rich to get so<00:19:45.440> rich<00:19:45.679> it's<00:19:45.840> pushing<00:19:46.080> house<00:19:46.320> prices<00:19:46.799> up<00:19:47.120> and

so rich it's pushing house prices up and

so rich it's pushing house prices up and that's<00:19:47.440> meaning<00:19:47.919> although<00:19:48.320> people<00:19:48.480> can't<00:19:48.799> get

that's meaning although people can't get

that's meaning although people can't get houses<00:19:49.360> often<00:19:49.840> but<00:19:50.000> are<00:19:50.080> selling<00:19:50.320> their

houses often but are selling their

houses often but are selling their houses

houses

houses that's<00:19:51.840> creating<00:19:52.080> a<00:19:52.160> systemic<00:19:52.559> problem<00:19:52.880> which

that's creating a systemic problem which

that's creating a systemic problem which i<00:19:53.039> think<00:19:53.200> we<00:19:53.360> need<00:19:53.440> to<00:19:53.600> look<00:19:53.679> at<00:19:53.760> how<00:19:53.919> we<00:19:54.000> can

i think we need to look at how we can

i think we need to look at how we can deal<00:19:54.320> with<00:19:54.559> it<00:19:55.039> politically<00:19:55.679> we're<00:19:55.919> using<00:19:56.240> our

deal with it politically we're using our

deal with it politically we're using our pressure<00:19:56.880> as<00:19:57.039> a<00:19:57.120> group<00:19:57.360> to<00:19:57.760> enforce<00:19:58.240> the

pressure as a group to enforce the

pressure as a group to enforce the problem<00:19:58.559> because<00:19:58.880> you<00:19:59.039> know<00:19:59.200> we<00:19:59.360> have<00:19:59.600> in<00:19:59.679> this

problem because you know we have in this

problem because you know we have in this country<00:20:00.480> the<00:20:00.640> chancellor<00:20:01.039> who<00:20:01.200> sunk<00:20:01.520> his<00:20:01.600> dad

country the chancellor who sunk his dad

country the chancellor who sunk his dad is<00:20:01.919> literally<00:20:02.320> a<00:20:02.400> billionaire<00:20:03.120> and<00:20:03.280> remember

is literally a billionaire and remember

is literally a billionaire and remember a<00:20:03.600> billionaire<00:20:04.080> is<00:20:04.159> not<00:20:04.240> a<00:20:04.320> millionaire<00:20:04.799> right

a billionaire is not a millionaire right

a billionaire is not a millionaire right a<00:20:05.039> billionaire<00:20:05.679> has<00:20:05.919> 1<00:20:06.400> 000<00:20:06.880> million<00:20:07.200> pounds

a billionaire has 1 000 million pounds

a billionaire has 1 000 million pounds right<00:20:07.760> that's<00:20:08.000> an<00:20:08.159> insane<00:20:08.480> amount<00:20:08.720> of<00:20:08.799> money

right that's an insane amount of money

right that's an insane amount of money um<00:20:09.840> so<00:20:10.000> he<00:20:10.159> doesn't<00:20:10.400> want<00:20:10.480> the<00:20:10.559> rich<00:20:10.720> to<00:20:10.799> pay

um so he doesn't want the rich to pay

um so he doesn't want the rich to pay more<00:20:11.120> taxes<00:20:11.520> you<00:20:11.600> know<00:20:11.679> what<00:20:11.679> i<00:20:11.760> mean<00:20:11.919> but<00:20:12.000> if

more taxes you know what i mean but if

more taxes you know what i mean but if we<00:20:12.240> don't<00:20:12.480> make<00:20:12.640> them<00:20:12.799> pay<00:20:12.960> more<00:20:13.120> taxes<00:20:13.520> then

we don't make them pay more taxes then

we don't make them pay more taxes then we<00:20:13.760> got<00:20:13.840> to<00:20:13.919> pay<00:20:14.080> their<00:20:14.240> taxes<00:20:14.720> and<00:20:14.880> if<00:20:14.960> we've

we got to pay their taxes and if we've

we got to pay their taxes and if we've got<00:20:15.120> to<00:20:15.200> pay<00:20:15.360> the<00:20:15.440> taxes<00:20:15.760> then<00:20:15.840> we<00:20:16.000> ain't<00:20:16.080> going

got to pay the taxes then we ain't going

got to pay the taxes then we ain't going to<00:20:16.240> be<00:20:16.320> able<00:20:16.480> to<00:20:16.559> afford<00:20:16.960> to<00:20:17.120> buy<00:20:17.280> houses

to be able to afford to buy houses

to be able to afford to buy houses so<00:20:18.559> yeah<00:20:18.799> it's<00:20:18.960> a<00:20:19.039> balance<00:20:19.840> yeah<00:20:20.240> so<00:20:20.400> this<00:20:20.720> this

so yeah it's a balance yeah so this this

so yeah it's a balance yeah so this this this<00:20:21.600> i've<00:20:21.840> got<00:20:22.000> so<00:20:22.159> many<00:20:22.320> questions<00:20:22.720> swirling

this i've got so many questions swirling

this i've got so many questions swirling in<00:20:23.280> my<00:20:23.360> head<00:20:23.600> right<00:20:23.760> now<00:20:24.400> um

in my head right now um

in my head right now um before<00:20:26.080> i<00:20:26.159> get<00:20:26.400> on<00:20:26.640> to<00:20:26.880> like

before i get on to like

before i get on to like the<00:20:28.159> whole<00:20:28.720> tackling<00:20:29.120> the<00:20:29.280> systemic<00:20:29.840> issue

the whole tackling the systemic issue

the whole tackling the systemic issue because<00:20:30.880> i<00:20:30.960> think<00:20:31.120> that<00:20:31.280> there<00:20:31.520> is<00:20:31.760> something

because i think that there is something

because i think that there is something there<00:20:32.320> and<00:20:32.559> and<00:20:32.720> there<00:20:32.880> are<00:20:33.039> common<00:20:33.360> arguments

there and and there are common arguments

there and and there are common arguments that<00:20:33.919> you<00:20:34.080> will<00:20:34.240> see<00:20:34.799> that<00:20:34.960> the<00:20:35.120> politicians

that you will see that the politicians

that you will see that the politicians always<00:20:36.480> throw<00:20:36.720> out<00:20:36.960> there<00:20:37.440> uh<00:20:37.679> specifically

always throw out there uh specifically

always throw out there uh specifically before<00:20:38.799> we<00:20:38.960> get<00:20:39.200> on<00:20:39.360> to<00:20:39.520> that

before we get on to that

before we get on to that i'm<00:20:40.880> interested<00:20:41.360> to<00:20:41.440> know<00:20:41.679> your<00:20:42.000> thoughts<00:20:42.480> on

i'm interested to know your thoughts on

i'm interested to know your thoughts on the<00:20:42.960> state<00:20:43.280> of<00:20:43.440> social<00:20:43.760> media<00:20:44.640> in<00:20:45.039> this

the state of social media in this

the state of social media in this equation<00:20:46.240> of

equation of

equation of information<00:20:48.000> education<00:20:48.640> around<00:20:48.960> what<00:20:49.200> wealth

information education around what wealth

information education around what wealth really<00:20:49.919> is<00:20:50.159> and<00:20:50.240> the<00:20:50.400> fundamental<00:20:50.960> steps<00:20:51.280> that

really is and the fundamental steps that

really is and the fundamental steps that it<00:20:51.520> takes<00:20:51.840> in<00:20:51.919> order<00:20:52.240> to<00:20:52.320> get<00:20:52.480> yourself<00:20:52.880> on<00:20:52.960> the

it takes in order to get yourself on the

it takes in order to get yourself on the ladder<00:20:53.600> on<00:20:53.679> the<00:20:53.919> road<00:20:54.240> to<00:20:54.400> creating<00:20:55.039> wealth

i<00:20:58.000> hate<00:20:58.400> social<00:20:58.880> media

i hate social media

i hate social media and<00:21:00.240> people<00:21:00.480> call<00:21:00.640> me<00:21:00.799> an<00:21:00.880> influencer<00:21:01.280> and<00:21:01.440> i

and people call me an influencer and i

and people call me an influencer and i hate<00:21:01.919> that<00:21:02.080> word

hate that word

hate that word because

because

because there<00:21:04.799> is<00:21:05.039> so<00:21:05.360> much<00:21:05.919> nonsense<00:21:06.559> out<00:21:06.799> there

there is so much nonsense out there

there is so much nonsense out there that

that

that is<00:21:09.120> very<00:21:09.440> very

it's

it's

it's it's<00:21:12.880> almost<00:21:13.200> like<00:21:13.600> over<00:21:14.080> sexualizing<00:21:14.799> the<00:21:15.120> in

it's almost like over sexualizing the in

it's almost like over sexualizing the in the<00:21:15.360> contextual<00:21:16.159> sense<00:21:16.559> of<00:21:17.120> information<00:21:17.840> and

the contextual sense of information and

the contextual sense of information and and<00:21:18.480> click<00:21:18.799> bait<00:21:19.200> thumbnails<00:21:19.919> all<00:21:20.080> this<00:21:20.240> kind

and click bait thumbnails all this kind

and click bait thumbnails all this kind of<00:21:20.640> stuff

of stuff

of stuff where

where

where it<00:21:22.799> is<00:21:22.960> information<00:21:23.679> that<00:21:23.840> is<00:21:24.240> overly

it is information that is overly