I agree, and even with what is in video. This one could be episode 1: what is wealth?

And make a playlist or some kind of grouping that you can go to.

@@AWildBardbrilliant idea

Plus sticking them in a playlist.

I'd use Ep 01

These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If you’re not ready for it, you shouldn’t be in the market. or get you a skilled practitioner.

That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.

Who is this person guiding you and how can i reach he/she?

I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Amber Dawn Brummit" I've worked with her for 9 years and highly recommend her. Check if she meets your criteria.

I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.

he full of shit i would destroy him in a live debate ?? he never owned a business or his parents to understand business ! one thing revenue not profit it costs pushed up by government yearly

Gary comes from a poor working class background and raised to the top of his trade thanks to social mobility. We no longer have the same level of social mobility where working class bring new perspectives in a range of fields especially in industries that deal with information. But yes Gary is amazing voice of the generation. But imagine if there were more people like him. Academia, news, politics, financial sector is locked behind a pay wall for most kids from underprivileged backgrounds. Even labour, wich was traditionally supposed to be the party of the working people, is full of privileged politicians with poor grasp on reality. It’s sad really.

💯

@@basiaszendrei1603 About a year ago I did a"thing" - I looked up the backgrounds, the school and higher education of every podcaster I listened to. This was about 40 people. 100% Went to a PRIVATE SCOOL and then OXFORD. Not a majority, not most, bit 100.000%. Even Al Murry "the pub landlord" with his WW2 history podcast. Yep the accent is contrived he went ot a very very expensive school and Oxford. Ive since added some more and I now have ONE - Mark Steel - who didnt go to private school and Oxford.

Then who's in debt?

I think that’s a great thing, that everyone who doesn’t really understand how things work in the world need to listen to him.

Same, really says alot about schooling that this vital topic is ignored completely

Same here in The Netherlands!

Gary didn't mention land. His emphasis was on capital goods and finance.

Aussie here as well. Nobody, except Alan Kohler, makes any attempt to truthfully explain economics to Australians. If you want a good read, may I recommend 'The Crash of 1929' by JK Galbraith. Written in the 40s or 50s, it explains the reasons for the crash that caused the great depression, in about 120 or so pages, written with great wit and complete clarity. Galbraith, like Gary here, used economics to explain the realities he saw.... he did not fall in love with theories and bend or ignore reality to fit them. One of Galbraith's great themes (he was a giant of postwar US economics) was the way the wealthy constantly pretended that our societies were doomed if they were to be taxed or regulated.

Another great video Gary. Doing amazing work. 👍

Same in Melbourne!

This sort of information is what should be part of the compulsory curriculum in state schools. You can be damned sure the private schools the rich send there children too, are teaching those kids about wealth, economics, banking, interest rates etc etc. Schools are the ultimate tool of social engineering, and the UK government ensures most kids are taught only enough to be useful but not enough to be a danger to the status quo.

Great to listen financially makes sense

Plus ownership of the assets where folk live and work

@@lynnoorman2144 Indeed. But this can ultimately also be seen as concerning the control of their time. In the end, this is what makes them assets.

Now its 4am Central and here I am XD

Go to India and Brazil to see real poverty. In the UK there is free education, free healthcare, free dental for kids, social benefits, subsidised housing, free breakfast clubs for kids, even free paupers' graves etc etc. In India, you are conceived on the street, born on the street, live on the street, die on the street then burnt and thrown into the Ganges.

If you think Credit cards, finance deals are normal - you will always be poorer. Learn to live frugally, save, invest. When you are debt free, you stand a chance (not including a mortgage ). So many youngsters have expensive phones, laptops, watches, fashion - not of which is essential, then complain they can’t find a deposit for a house.

@@wl660 think your missing the point mate. this video isn't about managing personal wealth: its about the rich bastards robbing us blind and how govt.'s facilitate this.

The whole "we are all much better off than back in the day" rhetoric is so dumb. As if any progress at all means we're doing good. It's like holding up traffic by going 5mph on a motorway, then accelerating to 30mph and going "see? It's much better than before" 😂

Direct democracy. Two wolves and a sheep voting for what to eat for dinner.

Do you guys see how no party is mentioning direct democracy? They know, it will be their death ☠️

Not true, you make money because money only has value because it’s backed up by real things and services.

@@crown9413 i struggle to understand - sorry i dont study economics, but if money only has value by being backed up - how does it link to the concept being not true?

@@crown9413 You receive it from somebody who sends it to you for that value you provide and you have earnt it but money is only truly "made" when a government bank prints it

You're all basically correct.. but it's the control of that money system that distorts the spread of wealth.. Private entities printing our money always ends up being corrupted as has been repeated time and again. We pay out tax interest to that debt and print. In order to solve this we need an incorruptible money system or at least a secure store of wealth that beats inflation. And we have this. Gary doesn't seem to understand this basic concept which is concerning...

​​@rickknight3823 "an incorruptible money system that's also a secure store of wealth that beats inflation." Yes, we have this and it's available to everyone with a smartphone. Thank Satoshi for #bitcoin.

Yeh, I thought he looked well too 😊

'The dismal science' and all that!

Exactly. without a naming system, some special graphics or playlist, they're just going to get lost in a sea of similar videos.

Given the uncertainties, it might be wise to allocate a portion to safer options like bonds or fixed income securities

But don't forget about growth potential. You'll want to balance safety with opportunities for higher returns, maybe through a mix of stocks and real estate

The problem is that people don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging condition

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful

With prices seemingly going up on everything, I'm not sure how to protect my finances

Nice one. My son is 24 and works hard, he's started following Gary and hope he reads your comment 😊

You do realise that he wants to tax your income from wealth?

What is your networth

​@@drwilliamlarge he doesn't. He's concerned with wealth distribution. Listen more carefully or you'll fail Gary's MOOC 😉

@@drwilliamlarge No, he's targeting only obscenely wealthy people with like 50 million or higher net worth. He's addressed this multiple times. Gary himself is living off wealth 😁

It's feudalsim, really. In New Mexico and Arizona, the US government recognized Spanish land grants when they seized these territories from Mexico, probably to stave off popular revolts. This land was originally claimed by the Spanish crown - disenheriting natives who'd lived on it for 20,000 years. This land is still in the possession of the decendants of those same families favored with land grants by some Spanish King or other. Most of these folks are poor now, and since "their land" cannot be sold but only passed down generations as a kind of common, too poor to move off of it.

Not really aristocracy these days, but the richest 1% own most of the land. The royal family and the Duke of Westminster have large holdings, but many of the other large holders are not aristocratic.

Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Michael Wayne, has been an amazing experience.

Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down🤦🏽of myself because of low finance but I still believe in God

I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mr Michael Wayne

Good day all👍🏻from Australia 🇦🇺 I have read a lot of posts that people are very happy with the financial guidance he is giving them! What way can I get to him exactly ?.

Such information we don't get from most KZfaqrs, how can I get to him. ?

Not really right now, because your loan is literally a drop in the ocean in the current global debt based economy. Gary is simplifying a massive, mostly hidden financial mechanism, which is the creation of credit by banks and non-bank financial institutions. The scale is such that it is bigger than any national economy, and it's not controlled by any government. It's controlled by the banks and non-bank financial institutions, and therefore controlled by those who own these, who in turn use their wealth to directly and indirectly influence national governments, and to buy assets everywhere. Assets are true wealth, and debt is the major asset class in every economy. Why? Debt is the major mechanism of creating money. Approximately, over 90% of all money created is credit from loans made by banks and non-bank financial institutions. This money creation goes on in every financial centre 24 hours a day, 365 days a week. And a lot of it is done in offshore financial centres that are not regulated by governments. The bit of the financial system that is regulated by government is the tip of the iceberg. Your loan comes from that tip, but the money created to provide you with your loan originated much further down below, and is very difficult to trace where it came. Your loan is the end of a chain of loans as Financial institutions borrow and lend to each other. Big systemically important investment banks/NBFIs to commercial ones to retail ones, etc. And billions are moved around, all out of sight of the public. They also lend to governments and multinational corporations too. That where most of our money comes into existence. And most of the largest owners use offshore banks and shell corporations and blind trusts in tax havens to hide their ownership. Yes, you can track shareholdings in the visible tip of the iceberg. Those are the financial institutions that interface with the public, but not the rest. As tax havens exist to hide ownership of assets held in them. (And a major driver of Brexit was the threat posed by the EU's Anti-tax evasion Directive to Britain's major share of the global tax haven business. (Watch Britain’s Second Empire here on KZfaq for a still relevant explanation.) What Gary is proposing is to tax the visible bit of wealth. That is big enough already to make that affordable for the wealthy to pay that. It won't touch the rest, but at least living standards can be maintained for those who rely on a job for a living.

That's a great point. Probably 99% of people don't know how money functions and where it accumulates. What about a computer model game of an economy? Wouldn't it be possible to illustrate and help demystify how policy changes to 'the rules' effect the flow and distribution of wealth. A sceptic might suggest this is easily possible, but not in the interests of the 1% who work very hard playing smoke and mirrors!

@@andrewcrawford1003 I'm a software engineer, I possibly could make this game. If anyone seriously wants to gamify this concept feel free to reach out

@@andrewcrawford1003 Interesting idea! I think the main challenge would be finding the right assumptions inside this system that best reflect reality. People with different perspectives will always challenge different assumptions, in the same way the field of economics has different conflicting theories, which makes it difficult to draw exact conclusions about cause and effect in the system. Nonetheless it would be a super interesting experiment!

Apart from the mortgage, why whould you take on debt? If you are taking mortgage with the bank, then bank owns the your debt, they may sell that as a security to other financial institutions or investors, but usually that will stay with the bank. About 70% of the money to fund mortgage comes from regular deposits; around 15% from interbank lending; around 10% from central bank loans and then bonds and securitization. The bank is owned by combination of institutional investors (Pension funds - majority; mutual funds, other investment firms), Retail Investors (no more than 10% usually of a typical bank) and lastly government. If you have money in the bank, it is very likely they will use that money to lend it to others, and you will get interest, since regular people don't often have much, they will receive little interest or If you have bank shares, the bank will pay you divident or not.

Good question! * had earned - maybe?

Addiction and fear. It's amazing how extra money engenders fear of loss.

Good point. I think all of your options are key factors. There is an excellent video on YT of Gary giving a presentation at a Cambridge Univesity College where he explains his inner thoughts and why he quit trading after making a few million. Essentially, his quest for more money was making him ill. I believe many of the people who make 10s or 100s millions become obsessed with power, and large amounts of wealth does buy power. I agree that for some, it will just be a habit, and like many habits, it becomes an addiction. Addiction isn't driven by rational behaviour. It is irrational and a form of illness. I have a similar background to Gary, i.e., poor, and I made what seems like a lot of money to me, not as much as Gary, but a lot. I realised that continuing to make more money was bad for my health and my family so I've learned to live a simple, comfortable life and I feel much healthier as a result. I'd like to reverse what has happened to society over the past 50 or so years so that people who start out like Gary and me have a chance of a good quality of life whilst being a law abiding decent person who cares about the world and not just themselves. I realise this is very difficult but we must try otherwise things will get much much worse. Humans have a large capacity to be selfish and evil, we must work hard to prevent those aspects of behaviour from becoming dominant. At the moment we're losing the battle.

Superiority, power,freedom and influence all provided by genuine wealth. So in order to maintain these crucial aspects, the focus on increasing the wealth to do so becomes paramount.

It’s not really greed. They can’t help but get richer with no effort. If you have a £100 million and get a safe return of 5% that equals £5 million per year for doing nothing. After you have everything you could want £5million becomes hard to spend.

Exactly. The more you produce, the more wealthy. It's amazing how propaganda has many people blind to common sense

Great comment, thanks for suggesting. I hope Gary takes it up.

@Rachaelshaw7 I have normal KZfaq and you can already sort the videos from the oldest under the 'Videos' tab next to the 'Home' tab. The options are: popular, latest and oldest.

If you click "videos" on a YT channel, then click "oldest" you should get what you're looking for 👍

I'm not sure I agree with this. Companies selling goods and services. Them owning buildings used to be a necessity to have somewhere to make/provide these goods and services, and sometimes to sell them too. Sometimes it still is a necessity, but increasingly less so for certain services. A building is essentially another overhead for a company

Thanks for keeping it light and real at the same time. Much needed for us traders in times like these!

I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors this Amelia Jason is she one?

Building a good investment portfolio is more complex so I would want you to recommend Amelia Jason my portfolio is draining there is no harm in trying ..

It surprising mrs Amelia Jason is mentioned here, came across a testimony about her from one of the beneficiaries on the CNBC news, she seems to be doing extremely .

she's on Telegrams mostly, using the username.

5 yrs time green will be in power and uk more fucked lefty

America has far higher levels of inequality than the UK and the UK is heading the same way due to the obsession with neo liberal economics. The top 1% of Americans have more wealth than the bottom 50%. Far worse than the UK. Seems the tax breaks are working to such to great effect 😂

Youre told the tax breaks are to get the working class up into the middle class, but the tax breaks often benefit the rich far more than any other group....

The US is very unequal and there is more downward than upward mobility, as bad or worse than other wealthy countries

@@Ste-The-Leo The idea is to tax the richer more and give tax breaks to the poor! Biden has now proposed only increasing tax on people earning over $400,000 per year!

Gary does address that in previous videos. Essentially, the wealth is tied to the land, and it's not going anywhere. It's just scare tactics. As someone else put it: the factory owners told the workers that if they made demands, the owners would throw the factories into the sea. Yes jobs can be outsourced overseas - and the owners already do that anyway - but the wealth is mostly in the land and the permanent structures.

People who actually do the work should he rewarded and taxed less than people with assets.