The Devaluation of Money
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- Опубліковано 6 лют 2025
- "The institutions which we have designated to protect our economy and to protect Working Families because of their own poor understanding of what is happening they are inadvertently fuelling a fire of inequality"
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Performed by Gary Stevenson
@garyseconomics
Produced by Simran Mohan
@mohanmedia
This channel needs to grow ASAP. People need to understand this stuff to know how we've been screwed, but we've been deliberately kept ignorant
They’re too ignorant to reassess
As an ex teacher I was always struck by the complete absence of what I believe are essential elements of politics, economics and in particular the tax system and a general citizenry syllabus.
The GFC in 2008 was the wake up call.
It lies he never owned a business
spot on!
One of the first recorded times of huge rising prices was in 3rd Century Rome. The empire took on huge debts to fight wars, but the emperor was afraid of taxing the wealthy for fear they would depose him. So, he ordered that half of the gold be taken out of coins and repay the debts with these "cheaper" coins. Problem was that traders no longer accepted these devalued coins as payment for goods unless the buyer paid twice the amount of coins, so the trader still got the same amount of gold.
The Empire did not understand why prices were rising and coined the term "inflation". But they were wrong, it was deflation of money
Gary, you are an exceptional teacher. Thank you for your service.
He is a puppet.
This is agenda30 and he has never discussed it. Neither migration and the medical fraudulent activities.
Totally agree.
Couldn’t agree more. I was smiling when he explained the self-sustaining mechanism for rising asset prices because it was just put so simply and it feels so obvious once it’s explained like that 👏 That said, the reality of it is pretty horrific.
This isn't a negative video, just a much needed dose of reality... Keep up the great work!
yeah, gary's one of the best qualified people to make these arguments, just that a lot of rich and powerful will lose their p!ssing contests because as it happens, eat the rich or tax them, their choice
What do you mean by the rich? Our parents with 2m in assets? Farmers with 5m?
Love this channel. I’ve shared it with my son. I have been an estate agent for 34 years and have been banging on about this for that time. People feel richer because of house prices going up but when I started you could buy a home with 2.5 your income. Now you need 5 times if you’re lucky.
The only people who have benefited from this is the rich at the expense of the middle and working classes.
I’ve said there are two ways we can rebalance the ever growing divide between the rich and the rest. we (government) can to build whole towns so the supply starts you out strip demand. Property prices should fall and become affordable and the value of the pound in our pockets start to rise or we can tax the super rich worldwide and use that to put into public services. Preferably do both.
Then the ordinary good citizens will see and feel better off and more importantly, their life expectancy and health equality will increase. This is the true indicator or a fairer and prosperous society!
Average wage in the UK is roughly 30k per year. Average house price is 297k... Closer to ten times the wage
They could build an entire global city that could easily house the entire population on a relatively small strip of land (there are maps which illustrate this), yet there is a housing crisis in nearly every city because the wealthy don't want to increase the supply of housing. The landowners are all part of one giant cartel
They’ll call you a communist for this because of years of programming, most proletariats in the west see themselves as temporarily embarrassed bourgeoisie instead of the reality. This will continue until the mentality changes… much pain due.
I think taxi the super rich would be the most logical thing to do - why shouldn't they pay their fair due of taxes on multiple assets, among which houses?
I love how Gary has made his money and shifted towards educating others. There aren't too many players like this, everyones constantly chasing for this fictitious idea.
Without realising your actions have an impact to everything in this world. Constantly chasing wealth and money takes away the opportunity for others to get out of real hardship.
How is owning stocks taking away this opportunity?
Your channel needs 5 million subscribers. Very valuable and eye opening information.
People like him should be nominated for the Nobel prize of economics. Appreciate the intensity and critical thinking.
Most Nobel prize winning economist are quacks too busy embellishing their economic models. Gary lives in the real world
He should get a medal for social service.
Don’t be silly
@@LifeForkB21 😅. He should get some kind of recognition though. What exactly, I don't know. Do you have an idea?
The best accolade would be to have helped change the system imo.
@ well:
1) he already gets what he deserves; your attention on his content
2) he’s not advocating for a change OF the system, he’s advocating for a change IN the system.
Regarding point 2), he made that very clear at the end of the video where he said he doesn’t see currency devaluation as a bad thing, nor does he think that the central bank is the problem.
Which is exactly where he fails every time…IMHO
Gary your videos are truly amazing, I’ve learnt more in an hour of watching you than I have in 2 years of reading the FT. Thank you!
FT is a dinosaur publication. Save your money and cancel your subscription to that junk
What I find fascinating is how well he describes economics with hand gestures and a coffee mug! No chalkboard, no whiteboard, no powerpoint required.
HE IS A NATURAL TEACHER
Well done Gary for making this subject understandable to the everyday person. An analogy I find helpful is: Imagine you have a line of cocaine and you cut it with the same amount of some other white powder to water it down. You now have twice as much of the white powder but you need twice as much of it to get the same high. When they increase the money supply you now need more money to purchase the same goods. Some would say that the value of our money has been stolen or that we have been pick pocketed without our knowledge
Explanation from the ends
Probably the best explanation of our current situation I’ve heard to date. Ignorance is bliss for alot of people but to be enlightened is powerfull.
Listened to this as an audio I downloaded and listened twice..absolutely brilliant me thinking this dstinguished 60 year old expert has nailed it!
Me actually watching the video to sub to the channel and download more videos of yours, i see you are very young😂
Hats off, many live an entire lifetime and never figure this stuff out.
Well done and thank you!
I often tell people 'House prices haven't gone up - the value of money has gone down'. This is a VERY hard concept for the majority of people to grasp. As soon as you understand this - you get comfortable with taking out as much fixed rate debt as possible
Exactly. The intrinsic value has not increased. Certainly there is a slight demand increase due to population growth, but devaluation of currency is the main driver.
FIXED RATE. You said it!!!
Exactly. Borrow as much as you can against income producing assets.
A positive to this system is you can start buying shares and align your interests with the wealthy.
But house prices have gone up, even in real terms of inflation and particularly in relation to wages.
Thank you Gary. I’m a middle aged man learning everyday from your videos. Will ask my children to view and learn from them. Thank you.
Same here , I'm learning everyday from Listening to Gary.
Ok Gary, I had to watch this video 3 times to fully understand (perhaps I am thick) but it was worth it. I understood why in essence devaluation happens and how inequality plays into it. It's remarkable how inequality is never a factor in economic models as you say.
Very correct. Gold bugs argue that it is the price of gold is which shows the true devaluation of our currencies.
Always remember to click on like whether you watch the full video or not- Gary needs to be at the top of UA-cam
Nobel Prize don't you realise people who tell the truth are generally silenced
Ya vol mein kommandant.
Ya vol mein kommandant.
Such a good video again. Every time, I realise I understand how things work to a certain extent but not fully!
This is your best video yet (the content and your delivery). The style has evolved so much as well. Very matter of fact, concise clear explanation and fluid delivery.
Thanks boss I am getting a lot of practice!
Love you Gary!! ❤ Keep nipping at their heels.
Beautifully clear and concise explanation! I never realized how or why the central bank’s means to correct inflation with interest rates actually creates such a deadly side effect!
This was extremely eye opening. Thank you so much Gary - you're an unsung hero of our times
And the Truth, shall set you free!! Thank you Gary.
I dislike math and rarely understand economics, but you make it palatable! Cheers, Gary
Tesekkurler Gary, I am coming from a poor family and living Ankara. Inequality is the same here as you said for London in video. I hope goverments would find good solutions for this issue
The go to guy for economics! You opened my eyes, thank you Gary ❤
Great video Gary! Well Done!
One idea, the real issue is the reduction in people's spending power, due to the shift in inequality, what if we had website/app that could show someone how a change in policies impact their living standards?
e.g. Interest rates change, what's the impact?
e,g, 2 Quantative easing, what's the impact?
e.g. Income tax etc etc
Fundamentally make it visible in terms normal people understand.
So where are the trillions the workers have paid the socialist welfare state?
Very thought provoking video particularly the second part about perceptions, relative prices and inequality. I have a lot of trouble at work when I point out to people that our pay has fallen 25% in the last ten years because it is the same in nominal terms but less in real terms ie in what we can actually buy with it. My colleagues struggle to get their head round this concept. The house prices vs wages thing is the same. I guess in the era of the gold standard they would have had no alternative to deflation and falling wages as they couldn't devalue money. My personal view is that the crux of the problem is a change in the balance of power between people who have to work for wages and asset owners. The destruction more or less of union power and the reduction in workers bargaining power too through globalisation of production and mass immigration means that wage earners don't have the leverage to demand higher real wages.
I remember the first (and only) dinner party I went to in the 80's, everyone was talking about property prices and how marvellous it was that the prices were rising quickly- I said "so you don't need to live somewhere then?" they said what do you mean? I said the increase in property prices is academic unless you are downsizing, moving out of London or going to live on your Mum's sofa-I was shot down in flames, but it was true then and is still true now.
Thank you Gary for your explanation of money and markets and so on. I had a little understanding before, but you have helped in the clearing up.
StaySafe Brother..
This stuff needs to be taught in schools! Or at least teach your children about economics. I personally find this fascinating
Schools are part of the class system so this will never be taught to the lower classes or the rich would lose some of their unfair advantage.
I've understood this for over a decade and have never managed to really communicate it to people that I care about. I get really militant and never really understand why they can't get it.
I never really got this other perspective that thinks the money is a constant value. This is a great video
I should say I'm in your rabbit hole from the PoliticsJoe interview
From the last few videos I've watched I'm concerned we might be going through a transition to a 2 class western society where there is simply master and slave. What you are describing sounds like that. Very Reich-y
@@joetriccas Neo Feudalism
being an immigrant living in uk for almost 3 years . I feel we need more people like Garry so Uk can gain its glory back In global level.
This Guy explains complex subjects so simply, Just shows he has a good level of understanding of the Economic System.
Brilliant! Thank you for explaining in terms I understand what's been rolling around in my head !!
In my model of counting inflation, three costs are considered. These are: the cost of food, the cost of energy, and the cost of housing. So, under my model, inflation is considerably higher than reported.
This channel is amazing.
Particularly enjoy how you take these economic mechanics and weave them into how it plays into the persistent conflict between workers and owners in this country, and all over. Very solid, thoroughly educational stuff. Keep it up, we need it.
Whilst covering up the real crimes because he gains from it.
@@Nickle314 and what would those "real crimes" be that we couldn't discern already?
Gary literally owns up to his former profession's nature in near every video he makes. I find it admirable, more than anything, that he's found it in him to call these systems out.
DAS KAPITAL...............
What an excellent insight into our UK economy
Not the UK my friend. Its the same everywhere in the west. Its the worlds economy.
This video needs like 1M likes every young person in this world needs to listen to this. A international company I used to work for. CEO just got 30% increase in salary when the wages for the workers don’t get raises and even for new hire wages r low. Definitely lowering wages phenomenal is here
Insightful. You've explained well how government policies to reduce inequality can sometimes lead to devaluation and rising asset prices, which is definitely relevant in today’s economy. That said, the causes of devaluation can look different in rich vs. poor countries. In wealthier nations, it's often about boosting exports or managing inflation with advanced monetary policies, while in poorer countries, it can be driven by things like debt, political instability, or reliance on commodities. Also, while rising asset prices make sense, remember that other factors like global conditions, investor sentiment, and technology can all influence the markets. Overall, your analysis is spot-on and a great reminder of how complex economic systems are 🙂.
@@ivinlibamba6500u used a chatbot for a comment? 😂😂
@tunedvision6208 Doesn't matter. I'm not good at English, so I did that to enhance my thought. Anything wrong with that?
Mind blown! So obvious once you understand this. Means it's absolutely imperative to invest in stocks and property!
Well, the other conclusion is the effect of less and less people being able to do that in the first place, but yes
I really appreciate this channel, because I can see a lot of parallels to the economic policies of my own country of Sweden. A massive wealth transfer to the rich, a Central bank that fascilitates this (the director is himself a large owner of stocks that has gotten government bailouts on his authority, without any consequenses for him), and shock-raised interest rates that harms normal people but rewards the banks - because basically every houseowner in Sweden is a holder of huge morgages. And we just sit there and take it, while the government implements a new Austerity economic policy to guarantee the banks capital and blames it all on the usual suspect: the Immigrants!
This is super interesting, I'm from the UK and we always think of places like Sweden as having a much fairer system. Sad to hear that this is happening in your country too.
@@TheNicoliyah The sad part is that most Swedes still think this too. Basically our whole governmental services system has been privatized but is publically funded. So companies are making bank on Healthcare, Housing, Schools, Public transport, all paid by taxes. The result is that these services have steadily failed and become money drains while making huge private profits.
And as the public just sees costs going up and facilities breaking down or closing, they blame the idea of Public services and praise the idea that "private entrepeneurship" is the sollution, when it is in fact the problem. But then again, this has always been the goal of neo-liberal economics I suspect.
Really? Here's the question for Sweden. Swedish Pensions Agency runs your state pension set up. It's received trillions of Krona from the workers. That's real wealth.
Where is it?
Is it invested and owned by the worker who earned the money? Nope.
Is it invested and owned by the state? Nope.
So are the workers owed a pension for their payments in? Yes.
That's a debt of the state and debt is just negative wealth.
So where's your evidence that the SPA has transfered that moneyt to the rich?
So the swedish state has asset stripped the workers causing the wealth inequality. To pay the debt you have to screw the workers with austerity.
Austerity is a consequence of those debts.
On migration [the policy, not the people]. Where is your evidence that the average migrant pays more in tax than they cost in state services? Include all the services, include future costs accrued now like pensions, and include dependents costs? Migration is a bad policy to use to try and pay for those debts. It only works if all migrants pay more tax than they cost in state spending. If they pay less tax than they cost, auserity goes up, and you have their pensions to pay too.
The real reason for the mess isn't migrants, its your socialist pension system. Politicians then need a scapegoat to blame others for their crimes. Migrants is one option. You've fallend for another one, oh its the rich. In the past it was rich jews as the scapegoat. They will blame the elderly for living too long. They will blame you for not paying enough tax. They blame you for not accepting austerity.
Why have you fallen for the political con?
@@54tisfaction So what percentage profit is acceptable? Price charged compared to cost of goods and services?
Similar story here in Norway, although maye to a lesser extent than other countries. The problem is people still have this idea that Norway is a paradise of equality because wage inequality is relatively low. But as Gary says, wage inequality is becoming less and less important, when wealth inequality increases as it has.
Another top vid g! Clear and concise! I can see that education is our first solution to exploitation so big thanks for putting in so much legwork! I would be thrilled to hear some solution-based discussions further down the line as I feel a bit like I'm on the Monopoly board and Mayfair and Park Lane are so far gone even the Old Kent Road is worth millions
To win the game you first need to understand the rules. Most don’t. Great explanation as always.
Great channel. Just catching up on some of the content.
This video makes me think of the WEF’s favourite catch phrase, “you’ll own nothing and be happy”. If the problem is growing asset prices, I can’t help thinking that the mechanisms to achieve this (one being currency devaluation) are deliberate. After all, the wealthiest in society run the banks and influence the governments.
gem of a youtube channel stuff that no Uni will teach you
Well Gary just finished reading your book it made me laugh and made me cry I couldnt put it down Thank you it was brilliant take care
Watched the videos, the interviews, bought the book... But this is really exceptionally well explained. Thank you mate, keep going.
Thank you Gary for explaining this so we can understand it
More people need to hear what you have to say
This video is really important, I previously understood that deflation of currency was a feature of inflation but never connected the dots that they were one and the same thing. Super interesting that this is also used as a tool by large corporations to devalue workers real wages. The society that we have built is sick. Thanks Gary, keep spreading the word
Wow how did you not connect the two? I have virtually nó economic education but the most basic form of inflation is when countries like itsly started printing money and in the end it was thousands of lira for a Loaf of bread. This happened in russia as well in my lifetime. It also happened throughout history but devaluation can happen in other ways. Like one king of england started making money with less Silver in it and so it was devalued by literally being made of less valuable stuff ..that was around the time of the peasants revolt that went to york where everyone was slaightered and I think it was a big factor for why they revolted...only the old coins were desirable in the same way that a currency can bé devalued by the regime issueing that currency like in some countries the dollar is preferable and the actually currency of the country is worth shit all. So it isnt always because of they are printing money. But its such a historically revolted thing that everyone should know if you print lots of money it quickly devalued the currency. It does seem like not only you but so many people hear so much abstract shit about economics and yet the very very basic simple stuff is not taught at school any more. I guess the only reason i know it is because of what happened in russia and itsly when I was a kid and somone explained it to me ...I don't actually remember reading that at school but im surprised at how many people even who read the economist and can talk about economic things I cant even get my head around dont know basic things. Gary is doing a great job sharing the basics. Instead of waffling the abstract shite.
It all seems obvious as it's explained, but I have to say this is helping me see the pound through a completely new lens.
Spot on Gary. Thanks for challenging the dominant narrative.
Man you explain this stuff so clearly. I’ve never had such a crystal clear understanding of how we are being totally F’d sideways by the ultra rich 😂😭
Just qued up another 15 of your videos! Time to understand how an economy is (mis)managed
This is an amazing video your explanations are so succinct and easy to understand. You should get recognised by a governing body of economics this is great analysis. That I have never heard before.
Another amazing video, brother! Thank you
This is the sort of thing that kids should be taught at secondary school, its bizarre how you can leave school and be expected to make major financial choices at 17 yrs old without any real understanding of money, interest, debt etc.
Because your kids don't go to the same school my kids do, and I have alot more money to back my kids when there older than you do, so you will stay poor and my family get richer, thanks
@@user-xy6ey7fc6f most wealthy people don't tend to feel the need to brag to random people on the internet. I guess good for you and best of luck with that attitude ✌️
Thank you so much for explaining something that I couldn't quite wrap my head around. I finally understand that things aren't actually getting more expensive, rather money's buying power or more specifically what you can buy with money has gone down (when i was younger I could buy this, this and this for a dollar and now a dollar cant even buy a cup of airport coffee). Tangible assets are what have value, and retain value. Money, which does have value, only sees its value drop over time.
Wow, our whole economic system is a made-up construct. It was built for the money, rather value (tangible assets) to funnel its way up to the top. Whether it's money or assets, the system is set up to send the value to the upper crust of society. Us ordinary people were doomed from the start.
Thank you for explaining what it is i couldn't understand.
Thank You! Great explanation in a manner that can be understood by a large percentage of society. I look forward to viewing more of your videos!
I love your videos, thank you for doing them, integrity is hard to find but I know it when I see it.
That was brilliant and beautifully explained. Thank you.
That was EXTREMELY well explained. I've been trying to find a video to explain inflation/ devaluation of currency and watched countless hours from many different speakers from all kinds of backgrounds and this explanation was the most concise and accessible.
Corporations cutting ppl’s wages via 2% inflation good for the economy?! I need to know how that logic became a thing. Hyped for the next vid!
If the masses knew how they were being screwed in the morning, there’d be blood in the streets by evening.
Wow. This is your best one. Thanks.
Great info
It is not a pessimistic video, mate. It is a clear example. Kind regards!
Thank you soooo much Gary! Sharing with friends and family 🙌🏼
You do fantastic stuff, thank you!
This video literally just gave be goosebumps because I finally understood why inflation didn't go up in the 2010s. I wondered so much about the seeming infinite money glitch by the ECB who could just print and print and still justify everything with deflationary tendencies. Of course this money had to go somewhere, and the value had to come from somewhere. Former are the owning people, latter the working people.
Cheer~~~the reduction or underestimation of the worth or importance of money...(good information)😊
Excellent explanation.
Well said!! 👏🏻
I'm not convinced currency devaluation is THE SAME thing as inflation - but it is certainly a facet of it. The most important thing is this: Inflation - and currency devaluation - are matters of DELIBERATE government policy. What is happening is DESIGNED to be happening. Some people - usually the wealthier ones - can gain from this. Much harder for the rest. A rich person with interests across different currencies wants some volatility to play what I call the seesaw. Just make sure you are transferring high to low and not vice-versa. That can bring about major gains. A very infomative channel indeed.
Another clear explanation of Economics without the BS. Very informative. Thanks.
Thank you. I wish I watched this video 15 years earlier, then I would know that keeping hard-earned money in a bank without investing is a bad idea. I was so occupied with working like a headless chicken, that I have not focused on own finances. Why don`t they teach/make people aware about this in school?!? P.S. I know why - I am just asking to express frustration.
Great video!
I agree with almost all of your analysis. However, at 7:39, it is a little bit misleading to say that economists objective to design inflationary system is to enable corporations to cut workers wages over time. It is actually to incentivize people to spend rather than saving, therefore moving the economic wheel. The alternative is deflation, which is a vicious cycle that will halt the economy because people prefer to save rather than spending because the expected value of money will increase.
I think it's useful to point out it's not just the trade-off between wages and rising house prices but also the fact that rising property prices so often accompany rent rises. And it is there that people who can't afford to buy as they don't have the deposit or strong record with their bank realise that - if they can't afford to buy or rent then they are essentially screwed.
thank you for putting things into a new perspective.
I came to the same conclusion some time ago, glad to see another person thinking the same way. I think this is common sense. Thanks for the video/sharing etc. I like how you say inequality is basically devaluing the currency and not just money printing.
Thanks Gary 🙏🤝
Looking forward to your return... What offer is very powerful and much needed right now... You need to team up with other minds with complimentary skills towards a new economic movement... So much potential here.
Brilliant
Well explained
Thanks Gary,
All my questions on inflation answered in one video ..
Best channel on economics by far
This is really helpful, I wonder if there is a similar UA-camr who has an apposing perspective? Would be useful to hear both sides on this. Thanks for the clear explanation Gary, I have been pretty ignorant of all of this for too long and finally waking up to the idea of making money work for me.
This video must be showed in every school
Terrific analysis and clear thinking. Possibly an increasingly dispossessed Middle Class will wake up and see how we are all in the same boat.
Thanks Gary. This makes complete sense when you explain it. More people should watch this. Scary AF though, for the ordinary person!
Good discussion as usual. Thanks Gary, really helped frame and answer points around why the issues in the monetary systems are really secondary causes after inequality.
I believe changes do need to be made to the monetary system given that we have this inequality this won't be undone by government policy alone.
Changes to rules around collateralised loans based on financial assets seems like a good place to start. Devaluing currency to play in the stock/FX markets seems unfair to everyday people and a socially non-beneficial practice.
I am definitely someone drawn in by the idea that the central bank has caused our economic issues, from a working class background, it's been ingrained not to trust authority & that an institution that wields so much power could be the root cause of "economic suffering" is the perfect scapegoat/boogyman.
You're correct as those alt economists do tend to fall short on how wealth distribution would improve in another system.
Thanks for at least addressing the point, a lot of economists tend to completely ignore it, on the assumption that they know something you don't and that it can't be understood by the common man.
very good explanation, so as all the pieces of the jigsaw start to fall into place..one’s options are to consume less, live below one’s means & slowly collect assets, specifically equities & real estate, if done with discipline then the end game should be to have accumulated enough assets to provide an income..the world’s governments will do the rest as you explain in this video..take a look at MMT, gives you a roadmap of sorts..can you do a video on accumulating assets, the use of debt in a positive way..👍..
The more I watch the more I realise we are screwed unless we are very rich. I feel like I am constantly walking against the tide trying to stay on top of my finances and stop becoming another victim of the system. :/
Rich people are feeling the same way. The time is going out. Everyone is scrambling ..the rich as well as the poor. Because realistically what drive our growth wasnt just people working hard. We had a huge einjection of oil to fuel and power growth. That oil is running out. So imagine a little island of animals and you dropped fuel..calories into that island...those animals are going to breed the preditors are going to breed but not prey on the deir the deir will breed the pigs everything it will be a lush environment of growth. Now you stop dropping food for them. THeyre going to start eating each other. Cos the lions dont have the food theyll eat the deer the deer dont have the food they eat the grass the grass gets bare the frogs have nowhere to hide etc... its not that if a supply líne dies up that everyone equally starved at one time.. the rich will gather as much as they can any way they can cos they know...theres not going to be oil theres not going to be clean water...or food. They're going to need to get off the planet in a soace ship or build a bunker for any of us to survive and they think thats them. And they may be right. Who knows. But the idea that in a time of resources scarcitity that people will work together to provide stability just doesnt seem to be human nature. People will stand on the heads of their fellow man when air runs out of a room. And we unfortunately are at the bottom and pretty helpless. They own a lot of resources that we need. The only way to end that would be to completely devalued money. You'd lose ten quid theyd lose their billions that they use to buy the assets that keep your beholden and in servatude ..but you are no more going to give up ten quid than they would give up a trilliún. Its the same human nature.
Climate change is such a massive hoax.
@@Padraigp Well I'm not saying there is a solution. At least, not a solution that anyone will agree to. How do you define rich? Do you mean, paid their taxes all their life and have enough to retire on, or do you mean Tesla obscenely rich? Also, I don't think people either individually or collectively are willing to make enough sacrifices to address the situation in any meaningful way.
@@workinprogresssince1974 i mean anyone however rich doesnt want to give away their money. If im right and the time has turned when oil stopped being abundant then theres a tightening of resources into the system ...and that will impact people...whether we spread that impact out to protect the most vulnerable and form a bridge together to the other side or we scramble on top of our fellow man for the last scraps available is a political choice. And obviously we are choosing the latter and squeezing the bottom teir. You said the only way out is to climbing up towards more riches which is exactly what everyone is thinking however rich they are... that the only way to survive is to grab as much as you can while you can before it runs out. Some people want to form an orderly líne. But then the only way tos urvuve is to get to the front of the líne before it runs out. Theres a running out situation that is dominoing slowly through the planet because of this receding influx of oil. And countries and individuals are scrambling. Because they think they will be screwed unless they scramble for riches. And people are screwed in terms of money. Because the money riches are what its impacting right now as well as land resources etc. Ultimately you and i give our time and effort to the repayment of these debts that are oweing. When elon musk boys a debt of 50 million quid he can set up a nice siphon for himself based on flying to mars to escape... hes like the naxi gaurd selling a ticket out of the camp... but his trilliún dollars he has is a debt which it would need a billion people to repay a thousand quid (if a trilliún is a thousand billion im not sure tbh) and we owe that to him ... the poor owe the rich billions of time and effort. But my time and effort is worth minimum wage on the market. Im poor in my country but 15th richest in the world. So I could sell my time and effort to elon musk he passed some of the debt he owns to me now I am owed something. Or i could not do that and grow my own vegetables and since working for him wouldnt afford me vegetables but working for myself i can provide more for myself than he can provide me I Kay as well not work for his debt and create my own wealth out of dirt and out of my own time and effort building something from nothing that repaying a debt he got for no good reason other than hes a good scammer. But you see people move to the city work for musk or amazon or whatever dáta center ...get fuck all pay huge rent barely able to see their children except on holidays. No thanks. I'd rather dig the garden spuds see my kids have no money live in a tent... but so many of us have no land to even stand on and be our own island or make our own choices. Because land was always the thing to have to ensure you could survive and before sequestering debt people sequestered land. And its a terrible trap then. But at the end of the day the guy whos got the land isnt going to give any bit of it up to anyone to exist on. Because we are greedy hosrders and fearful and believe that we must be rich to have any sort of life. Meanwhile the poorest people in our western society are the top richest 20 percent on the planet and have more choices than most and yet often make nó use of it. Make nó choices beyond trying to get ahead to get richer. Like I just cant be fucked to do that. My time and effort are worth more than money. But thats just me. Anyway im actually gardening right now so its very súnna and I can barely see my screen also had too much coffee so probably rambling like a loon. Lol i better get back to digging my daily bread and being happy and tbh happy to die poor than join the rat race.
@@Padraigp How much of it is actual resource scarcity vs sanctioning cheap fuel and environmental policies. Where is the nuclear? Finland energy prices went so low so fast they had to cut output of their new nuclear plant. What is the actual problem with nuclear power, and do we really not have enough fuel or are we just shooting ourselves in the foot?
Thanks Gary! I just discovered you and I like what you are doing. I like to look at home prices in terms of the number of hours an average worker needs to work to buy them. I think it paints the picture very clearly.
Another brilliant video, great explanation and more people need to know this stuff. The owners know this and now its Gary's time to explain all this to ordinary folk
Thank you for sharing this, Gary, most of us are woefully ignorant of what economists and the corporations they serve have been up to all these years.
And Tory politicians......
This was very helpful. Thank you.
All of your content is great Gary but this one gets under the bonnet. Really liked it, the way you've tied in various metrics. 🙏 thanks man
Gary for Prime Minister 👌
Amazing video! Thank you very much!!
Nice work Gary!