 I just wanted to get your opinions on things you can do to prosper in some probably coming up really hard times like Donald Trump said that the we're going into a depression that makes a great depression look like a picnic yeah and I've heard some read some things about what happened in the Russia in the 90s when it was so chaotic is coming here can you draw any parallels to things that would work like you know a lot of these guys you know or of a mindset to be entrepreneurial and I think that's gonna be the saving grace of America right you know it's gonna take a long time but what are some things we can do that you know would would get us in a more prosperous position in the next few years because I think they're gonna be really hard well of course anyone that starts a business knows it's a very difficult thing to do especially in an environment we're in right now now there's a few industries general trends that are likely to outperform other industries so if you're going to be in agriculture if you're going to be in mining so some producing something real those are likely going to be areas where you will see a lot of prosperity so you see Jim Rogers event famous investor had mentioned recently that you know it'll be the farmers driving the Maserati's 20 years from now not the bankers so I would say if you looking just broad trends long-term what industries to get into I would say those two mining agriculture I mean there's always a need for doctors and engineers but I would say banking or finance is probably on its on its way down there's too many finance people like myself so that that would be my my my view of the industry entrepreneurs I mean entrepreneurs if you're good at what you do and you're gonna fail ten times if you're ready for a life of ten years of struggle and after that you're probably going to do very well and you can do that pretty much anything I mean you can do that if you're good enough you'll you'll eventually get to the top right but if you want general industries to get into those are some you should look at did I answer your question make sure that we're able to eat and you know be able to to trade barter maybe all right I have the ideas of that I bought I just bought a property myself and I bought it with a half an acre so and it's out in the country it's a well water so I have to worry about city water and this is again this is just an insurance policy you don't do this because you think this is going to happen you do this just in case it happens half an acre is enough if it is enough land to sustain yourself if you need to you can grow you know have a garden on it if you need to and you know probably I have a gun permit I have several guns I have a shotgun and you know you got to know how to use them just in case again this is an insurance policy you don't buy a fire insurance policy because you think you're going to have a fire in your house you do it just in case so that's how I would look at it if you're really worrying about that worst case scenario where there's anarchy there is a misunderstanding also this because we've all been taught this way that without government there is anarchy and chaos everywhere that's not really how it is I mean there's cases there's people historians studying Wild West so-called Wild West now where they see that there was actually less crime in the Wild West than there is now in the average city because if you wanted to saloon to get drunk and you know you kind of mouth off to some guy and you guys had a duel out in the street one of you died that's not a crime there was a contract there's a contract that said I'm better than you you're better than me let's go duke it out you know that's that's not really a crime if you went on about your business you were fine so it doesn't mean just because the government becomes weaker and if there is a period of chaos maybe there is there's more danger for a certain period but if you're prepared I think I think you'll be able to kind of come out of it I I tend to think it's really somewhere in the middle between complete chaos and then nothing happens I think it'll just get harder from being in Russia at a time when there was a crisis when when that transition from Soviet Union to what we have now is just a high inflation and is just harder to get the same thing but people got along somehow there's more crime but I mean some parts of this town it's a lot of crime right now so it's just that's how I'd look at it that that answer first of all I really enjoyed that I think I'm gonna have to take a while to process everything because this is new material for me it's it's really interesting there's two things that I'm trying to wrap my head around from this whole paradigm and you know the history and things the first is about about gold and the you said the things that made it originally a good currency with that you know it would last forever and it's useful outside of that and now you say it's not tied to the economy it seems like it's lost it's you know you can create a plast plastic and you can bury it and it will last forever so what what makes gold still the good standard good good question well you can't create more gold you have to mine it so you can create more plastic so that that's the reason why fiat currency is failing because it's very easy to create it gold is used as jewelry so gold nobody throws away gold that's really the fundamentally fundamentally what it is everybody likes gold some people don't really I don't wear gold but I know that a lot of people do and a lot of people trust its value and it has intrinsic value because people don't throw it away that's really the fundamentally but like it seems like a psychological thing that could you know it could that feels very tenuous to me you're right you're right and the only the only reason that I would say that it stands the 10 it stands the test of time I mean if you had a piece do you have any gold I don't know if you have gold if you have any at all or your family members have gold would they ever throw it away would they ever would they ever you know give it to somebody for a dollar or you say I mean I don't know I mean maybe you say you have family members like that or okay so that that's really what it is you see it's people cling to it so they have value they put value on it that's really what it is I mean this right here you know if if they print more money this is going to be worthless you know this is just paper and that's what they love you know that that's what the Federal Reserve loves and but that gold coin well right so again the bills there's not really any difference exactly there's no difference between the ink that's on it and the way it's shaped that the gold I can melt the gold coin and it's still gold right so I can wear this jewelry where people like it and think that I have a lot of money or whatever whatever reason people wear gold and it's beautiful fundamentally you know so that answer your question and the second question I have is about a population how it fits into this because our population is is growing exponentially and it seems like what you said when we were on the gold standard the deflation was it was linear so it seems like you run into a situation where the country is getting poor and poor just because you know we're getting more and more people faster than the currency is getting more and more viable I would say as the country's become more industrialized they actually grow slower as if you see the biggest growth population growth is in Africa where which is the least industrialized so we are population is growing you're right but if we're looking at standard of living there's a few areas in the world that prove that no matter how popular an area is you can very successfully live in that type of environment look at Hong Kong look at Singapore just massive if you call overpopulation but everybody's just fine and I mean people are dying to move there and live there because it's so successful because technology outpaces population growth so ways to deliver food ways to grow food ways to improve medical care and sanitation the outpaced the growth population that's really what it is and money supply has outpaced growth of population as well so that's what increase that's why you have in that's why you have continued to kind of slow impoverishment that's that's what I would that's why I would blame for it all right thank you very much yeah Gary thank hello okay what's your end game for gold you know this this point in time might not come for another ten years but you mentioned in 1980 when interest rates rose and and people obviously restored their faith and fiat currency but what do you foresee the economic climate looking like in the future where that comes about again just so that we have some sort of a you know mental time horizon of how this should all play out so to speak well so the end game again you want to look for if there is a real resolve at the Federal Reserve if you watch the news and they say for whatever reason they're going to raise interest rates really high not like 2% because that will bring gold prices down temporarily but they'll come back up again because come back up again because the markets know that inflation rates higher than that if they say 8% or eventually over a period they raise it to like 8% or 10% or 15% then you can see the price of gold really tank because that at that point fiat money its convenience and it's it's it will outcompete gold because you don't have to exchange actual gold you can just use your credit card like you do now that's not going to happen because they know that they'll double kill all the banks that will kill the real estate market which will kill all the banks that's why the Federal Reserve has to keep interest rates very low because they have to protect the monetary system the way it is right now if they raise interest rates they know that they're going to sink that and then also Obama knows he's not going to get reelected if that happens not saying Obama's any any worse than the Bush when the Republicans get into government get into power they do the same exact thing that Democrats do so thank you