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it's happening i mean you turn on your computer yes there are a lot of people putting their money into cryptocurrencies now and many of them probably would have bought gold and silver once upon a time uh but chris all money is going to be on the computer eventually i mean in china you can't take a taxi with money you have to have your money on on the computer if you want to take if you want to buy ice cream you got to have your they're way ahead of us uh many every country is working on it many countries are ahead of the us but the u.s is working on it too all money is going to be on the computer eventually there's no question about that governments love it first of all it's cheaper and more efficient they don't have to print the stuff and transport it etc so but from their point of view which is what they love the most is they'll have total control they will know everything we do i mean they'll call me up so you bought too much ice cream you know stop eating so everything they'll know everything we do which i of course don't like but governments love so it's coming uh the crypto guys say uh yes we're going to replace money we're going to our money is going to be the money now maybe they're correct but my view is that if that happens uh history also shows that governments do not like to lose their control they do not like to lose their monopoly the bank of england said at one point to people if you use any other money except our money it's an act of treason chris mean treason means they execute you yeah you know most people stop using other things for money um i think governments are pretty ruthless and pretty horrible people they like control in monopolies so i would suspect that if the crypto gods are right and if it becomes real money we will have government problems now there's no question that you know crypto money is better for all of us and competing currencies are better for all of us but they have the guns and if they say you're not going to use it most of us are not going to use it well i have found in my experience that central banks usually don't know what they're doing but you have to know what central banks are doing because they're a big factor in any market central banks are buying huge amounts of bonds for instance right now which is madness uh all of us i mean it's a good time in america i know you're in canada it's a good time in america to be old because somebody's going to have to pay for all of this oh people are not young people are going to have huge burdens placed on them my kids are going to have big problems later in their lives because of all this central banks don't know what they're doing often but they do have huge amounts of money and so they can get put off market influences i have also learned ronnie that usually if you go against the central bank not immediately because they have a lot of money but eventually if you go against the central bank you're going to be right because they nearly always get it wrong whether it's a currency or interest rates or whatever it happens to be little kids when they get money they go spend it well i wanted my girls to know no no no when you get money the first thing you do is you put it in the bank i wanted them to learn to save because once they'd saved it then if they wanted to buy something or invest they could that seems to have worked that they understand that much about money uh i hope it will see you it has been 20 years if i've taught them don't spend it save it and invest it and you'll be better off uh when my older daughter was 14 i told her she had to get a job um because everybody should have a job one of the things you learn about life especially when you're a teenager you better be on time you better do what you're supposed to you better do it right now i thought she was going to go down and get a job at mcdonald's making eight dollars an hour she's smarter than i am uh adam she went and got a job teaching chinese making 30 an hour because their chinese is so good you know i wish i were smart as my daughter uh but these are the thing i am trying to teach them about the realities of life money is not free it doesn't grow on trees like wall street told me when i first went there so these are some of the things that i'm trying to teach them as far as entrepreneurship it's a little early i although my daughter did go and teach chinese instead of working at mcdonald's uh i you as i say you can ask me in a few decades or a few years so far they have not shown great interest in being entrepreneurs but we do we they do see success stories and they know about success stories because it's in our lives well i own silver i own gold i've i've owned it for many years um never sold any silver or gold i mean i've given some away to my children and other people i am not buying either at the moment but but greg my market timing is usually not very good uh i do plan to buy a lot more gold and a lot more silver before this is before this is over because both will go much higher throughout history when you've had people lose confidence in governments or money they they always turn to gold and silver and and greg i'm an old peasant i'm like all the other peasants we know when things go wrong we better have some gold in the closet we better have some silver under the bed so i will buy more silver i'll buy more gold before this is over i'm not buying now i have no eye if and when there's big panic in both of those markets either those markets i will buy more at the moment i would buy more silver than gold silver is down 50 or 60 percent from its all-time high gold is down 10 if you know a lot about gold and silver i mean future in the futures markets you'll make staggering amounts of money if you get it right you can also lose staggering amounts of money before lunch if you get it wrong in the futures markets um but that's a wonderful way if you know what you're doing if you know a company that's going to find gold in berlin craig you should buy all the stock you can in that company and then you should send me an email and i'll buy the definition of a gold mine is a hole in the ground with a liar standing at the top and there are hundreds of silver mines and gold mines but if you know the right one for goodness sakes buy all you can because you're going to make a fortune you get enormous leverage that way i have it in the in the closet on the you know because i want to have some in case down the road i i do have some etfs that invest in metals there are various and sundry ways that one can invest in gold and silver i have learned and i hope you have learned and everyone learns that when there is a disaster yes we all feel sorry for the people and we want to help in any way we can but we might also invest and by the way uh if you invest in a place where there's a disaster you're helping the people yeah you're there to make money but the people need all the help they can get including all the investment they can get so it's not just some greedy capitalist i mean you're actually doing good for the people for the area for whatever whatever is happening
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