Transcription
If ordinary families are already in a recession, they can't they can't look at gold near $4,500 an ounce and say, "I I could buy that." I mean, what do they actually do? Is is the answer smaller gold purchases? Is it silver? Is it cash discipline, debt reduction, or just avoiding speculation altogether?
People are driven into speculation largely because their ordinary income is insufficient for them to survive. Mhm. I mean they can survive on a on a uh very small budget but I tell you ordinary people especially the pensioners that get the rent from the government the pension from the government uh their pension from the government has gone up far less than the cost of living. This is the reality and the government will not tell you about it because uh they don't want interest rates to go up significantly and they don't go want to adjust the cost of living allowances of the pensions. Say by what the true cost of living increases are saying at the present time the pensions of the government go up by 3 4% peranom.
In reality they should go up by say 7% peranom. I mean that speculation that you're talking about can also destroy the little capital they have left so so what do you think is the line between trying to escape financial repression and you know taking reckless risk because the system has made patient feel impossible.
Well, my answer is very simple. Ordinary people should save some money. They have to lower the cost of living somewhat and then with their savings uh they shouldn't hold it in a in a bank at very low interest rates. They should actually buy precious metals every month of the year for the next 50 years. A little bit of gold every months and then they will have an average price that is very attractive in the long run.