 This one's really important. American retirees are drowning in debt. This isn't just for America. This applies for many countries, including Canada. Between 1999 and 2019, the total debt burden for Americans over the age 70 increased by 543 percent and totaled $1.1 trillion, according to the data compiled by the Federal Reserve Bank of New York, debt grew by 471 percent over the same period of time for those in their 60s and totaled $2.14 trillion at the end of last year. Look at this date, guys. That's 2019. Just imagine what's going to happen after COVID. I've been telling you, man, this whole system is rigged. Literally since 1971, everything has been going downhill. Surprising, but this is the thing that's really fucked up and I made a video about student debt. Many seniors are also burdened by student loan debt. Over the last five years, Americans in the range between 60 to 69 saw student loan debt increase by 71.5c. Both in Canada and the United States. It's almost like slavery, where if you don't pay back your student loans, you are indebted for life. So your pension, so government pension, whether it's your 401k or in Canada, you're doing some RSPs, any form of type of government pension or money earned, if your student debt is not paid, they will redeem that. Think about that. You can't even claim bankruptcy. And on the biggest scam, this whole university college bullshit scam, it's easy to brush off retirees. Financial struggles are simply poor planning. And there's certainly some of that. According to data compiled by Northwest Mutual, one third Americans had less than $5,000 in retirement savings. 21% nearly a quarter of Americans had a retirement savings of zero. 33% of baby boomers, the generation now entering through retirement had on average between zero to 25,000 saved. Well, the reason why they're not saving is because of our money supply system. There's many, many different reasons. I'll get to something called CPI in a second. I've been telling you guys forever, our money supply system is broken. Like since 1971, when we went, when we 100% decoupled from the gold standard and became the petrol dollar, your buying power has been depreciating on a day-to-day basis. Consumer price index, which follows the inflation based on products. And if you look at since 2008, and this is 2018, you'll see the inflation rate of products. So the following is a try to CPI consumer price index for all items in the US between 08 and 2018. Upward trend. So it's roughly about, let's say 2% per year, your products are inflating. You want to couple that then with 2% to 3% of your dollar inflating. I've always said on average, it's about 4% to 5% per year. Your dollar is decreasing buying power. You couple that with the cost of living. So rent going up. So we go back to Masro Hayake needs. Rent goes up. Food goes up. Then you put that with 45% of your dollar decreasing. What do you end up with? I don't care if you're making 100. Well, 100K salary used to be, like obviously I wasn't born, but 100K salary in the 70s is probably equivalent to day of like a four or $500,000 salary. And so 100K today is nothing. It's like any major politics city from Toronto to San Francisco to New York, you're lucky to get by. And this is a scam. This is a scam that is selling to everybody is like, put your money away in RSP. RSP is here in Canada garbage. Put your money away to standard 401K. It's garbage. The fiat dollar that you're putting your money away is eroded on a day-to-day basis. And so it doesn't matter how hard you work. It doesn't matter how much you save. If literally on a year-to-year basis, your dollar is losing its viability for purchasing power. This is why I'm a big proponent of like, you know, our parents have been sold a scam. A lot of people listen to their parents. They've been sold a scam. And the scam at the end of the day is like, well, be a little good girl. Be a little good boy. Go to school. Get a job. Save a little bit of money on the side. I'm not saying don't save. Savings are really important. It creates good characteristics and good behavior patterns to kind of think in the future. It gives your T plus time span, really long preference time span. But how we go about doing that is completely skewed. You know, the wealthy people don't save cash. Wealthy people don't have cash. They buy assets. Why? As it's appreciated. They buy gold. They buy stocks. I want to say for everybody, but in this situation stocks are better than cash. They buy stocks. They buy raw materials. They buy silver. They buy platinum, uranium, steel, et cetera, land, physical land, not condos, physical land, right? They buy assets that appreciate over time and they have a supply and demand metric or curve. And so I'm not surprised that that many American retirees are drowning in debt because they've been sold a scam completely. And you can save 500 bucks a month all day long. That turns out to be 400 bucks next year. And then that turns out to be 350 the following and then 300 and then 250 and so forth and so forth. Then you realize, fuck, literally my $500 I had once buys me nothing, buys me a cheeseburger, McDonald's eventually. If you're in the age group of you're planning to retire or if you have parents, talk to them and like get your cash out of the bank. Start investing in gold. Start investing in Bitcoin. Start investing in assets that don't inflate. Start investing in assets that are accumulating a value over time. This is the scam to have been sold savings account, stupid RSPs, stupid 401. These are all jokes. These are scams created for you to be a debt slave and not to think outside the box. And so yeah, this is it guys. We're entering rough times and remember this is from 2019. 2019. So just wait till after COVID when shit hits the fan. So prepare yourself by Bitcoin, by gold, by physical land, farmland if you can. None of this fucking bullshit or 401 crap and RSPs and Canada junk, complete fucking junk. Anywho, talk to you soon. Peace.