 That's fine for his generation, but for our generation like the Millennials and the Gen Z's They're not getting the benefit of the inflation from 1970 to now where they were just printing like crazy And it was actually going to help people Millennials are the first the first generation Obviously, I'm just speaking from a bell curve here. So there's there's rules. There's there's extreme left is extreme, right? I'm just talking about the bell curve the medium norm in the middle Millennials are the first generation to not acquire their own assets because they can't Yeah, I saw a stab recently somebody had posted on Twitter It was that when you compare the Millennials at our age to the boomers at our age There's the difference of like 5x the amount of wealth that the boomers controlled at our age as Millennials Yes, like we Millennials own something like 2.5 to 3% of the world's wealth. Yes, and at our age The boomers controlled like must have been like 15% or something like that. So, yeah, it's just But here's another mindfuck. Here's a my Millennials will be also the first generation if you take this linear line of thinking that their parents are leaving them their assets, so let's say whether it's primarily a house some type of Residency so condo house it might be some government bonds They had from the early 60s and 70s they still have but more or less assets in general So let's let's use that linear line of thinking their parents which are roughly in that age category right now Well, you know, maybe 70 80 years old, right? They're leaving all these assets to the Millennials. It's going to be one of the greatest wealth transfers of a generation. However people There is an elephant in the room. A lot of people don't talk about If you look at the cost of living you look at property tax levels and you look at the roughly declining Salaries of people have been getting for the last ten years a lot of these Millennials that do Inherit their family assets will not have the necessary cash flow to even maintain these assets Yeah, and even though they they may inherit like a place that could be worth a million dollars or something like State in a city like Toronto, they won't have the money to fix it up if it needs repairs Well, yeah, you have one to it's called a one to three percent principal rule So you take the value so the condo is a bit different because you have to pay condo fees So condo fees goes towards maintenance. Well, let's say you get a house a Million-dollar house in Toronto. You do one to three percent You need roughly you need to at least do three thousand to ten thousand dollars a year for maintenance shingles fix that Electrical plumbing whatever there's a bunch of stuff that how constant fixing of a house So you need you need that principle down on a yearly basis Property tax people forget, you know on a standard million dollar home in Toronto property taxes was six thousand seven thousand give or take roughly Depending on the neighbor neighborhood you at okay. You have insurance on the house to get a pay Then what else you got to pay you got to pay electricity on the house You got to pay water in the house. You got to pay hydro on the house You got to pay your year it all adds up So like the the the cost of actual the cost of the actual house And I have rough estimates because I did a whole different deep dive At least Toronto so Toronto similar to some areas so the Vancouver we pass Vancouver for valuation and we're slowly creeping up to areas in California we're about four seventy five to five sixty five a square foot here, which is quite expensive a Million-dollar standard home in Toronto semi-detached without a garage. So that's a standard You're looking at rough overhead to keep on a yearly basis around 18,000 just to keep it You've done these calculations just to keep it just to keep it. That's it. Nothing else and That doesn't go into is there still a big mortgage on the house that your parents leave you Right oh They're gonna sell yeah, yeah, yeah exactly That's exactly it. Yeah, and they're most likely gonna dump for other assets like they're probably gonna get maybe a smaller property maybe like a Somebody posted in your chat there that they're gonna build a tiny home on someone else's property That's funny tiny homes man I can't I can't stress how draconian laws are a lot of places Ontario don't allow you by the rule The tiny townships to actually build a tiny home The rules are really fucked up. There's a lot of lobbyist groups out there Even fact when Airbnb for example, there's areas up north because my area where my cottage is we allow it But it's kind of broken up into townships like you go to Collingwood and people who are listening to this who are not familiar Ontario just pretend we're talking about cottage country about an hour and a half north of Toronto. They actually Make it illegal for you to have Airbnb and illegal for you to have small dwellings for you to even make money That's insane Insane, yeah, it's pretty fucked up your own property that you pay property tax on it Do you mean you're not allowed to rent out rooms or even build a tiny home to have it on your own fucking property? Yeah, I was gonna buy a place in Nova Scotia actually and there was restrictive covenants in Nova Scotia on the property by the water We were gonna put a little tiny home It was a nice huge a like couple acres on the on the on the ache on the river the Myer River Which is really sought-after place But yeah, we found out when we were about to close that there was restrictive covenants thing You couldn't build a tiny home on your own land us thinking like why am I gonna? I'm gonna like Build this property that's this dream property and I won't even be able to like put a tiny home for my brother to come Stay with me and stuff like I'm like screw that. I'm not gonna like abide by these rules I'm too much of a loopholes like you're allowed to then have a portable fucking RV trailer. I Couldn't even have that I couldn't even have that They were like so restrictive and I was like I'm gonna get myself in shit here because I'm such an anti authoritarian person Like I'm like I don't want I don't want to bend down anybody's authority or whatever So I'm like, I'm gonna put my house down there and get in trouble. So I'm just gonna disconnect from it but going back to that original topic of the inflation Yeah, it's an interesting Thing I always like to think what what what is it gonna be? What is it gonna be like in the next 10 years because? They've been printing so much like the last the last The last 10 years I've been learning about money and the value of money and fiat money and how fractional river of banking work And the money multiplier and all these complicated quant math things that are basically building up giant bubbles in the economy and causing The house of cards to grow taller and taller and less and less stable One thing that has continually happened is printing money and I'm surprised even as a bit coiner I'm surprised at how much money has been printed relative to GDP and relative to the previous debt size Even though we just had like six trillion dollars be printed in the US and Canada's in worse shape than that like in terms of percentage wise It's not unheard of we're we're basically back to the same levels of debt to GDP as World War one times like the Depression era times. Yeah. Well, look here's the numbers the United States printed more money in June This June then in the first two centuries after its founding So that's a reason why you have like institutions coming in and taking a serious look at Bitcoin as