Are You Being Dangerous with Your Money?

What are the worst things that we can do with our money?

Gambling is the worst thing. Closely followed by saving it in a bank.

Controversial opinion.

Well, if you waste money and enjoy it, I'd argue that's not a waste. I think that gambling is a disgusting industry, especially when you're advertised hard at and lured in with free bets. Because when gambling goes wrong, families are broken. And I interviewed a famous footballer on my other show, Disruptors, and he said, as a drug addict, gambling is a worse addiction by far. So that being said, if you like a little bit of gambling for fun and you've got it under control or you've got some skill in it because you can play cards well, which, which is probably quite rare, but let's say you do and you're not an addict, at least you fucking enjoyed it. And you know, I've bought supercars that have gone down in value and I've had punts and bets and competitions and not always won. I had a charity fight in front of 800 people. I lost 100 grand, although the money went to charity and I had a lot of fun doing that. Yeah. And it was. There's worse ways to lose 100 grand. Having hospitals built in Africa, like, was like where the money went. But the worst ways to lose your money are no benefit, no enjoyment. And it's like hidden and secret and nefarious and misleading. Like saving, like tax, like inflation, like money printing.

Boom. There's four. So let's start number one then. Savings.

A savings account is a lie. Do you know why?

No.

Because your money goes down in savings accounts. So how can it be saving? So I like to call savings accounts degrading accounts because your money degrades over time. It's not saved over time. Because surely you would assume if you save your money, what you put in yesterday was still there. But what you put in yesterday, a little bit of it has gone. Now people will say, oh, but when interest rates are high, you're making on the interest. Well, interest rates have hardly been high for the last 15 years. And okay, recently they've been high. Ish. But inflation has been higher. And of course you don't know this because the central banks and governments, they don't want you to know that you lose money in a savings account. Why?

Because then nobody put it in a savings account.

So if everyone knew that over time you lose money in the bank, no one would leave money in the bank and all the banks would go bust and they wouldn't make their trillions because the banks make Money out of you. You are the consumer, you are the product. They print it and create it out of nothing. They don't earn it, they don't pay tax on it, they just create it out of nothing. Quantitative easing, money printing, money creation. Money is debt. The debt is you. You are the debt. You are the in debt. They become the debtor, you become the creditor, and then they charge you interest or then they lend it out and charge someone else interest with your money or money that they created out of thin air. And if you look at the interest you get versus inflation, inflation is higher than the interest you get because some people go, oh, well, interest rates are 5%. Go to Barclays and see what they'll give you in a savings account. Instant access, because you're going to need instant access, aren't you? Because you're going to need your money. 1.6%. So how can it be that interest rates are 5, but they only give you 1.6? Oh, but wait a minute. Since lockdown in the last four years, inflation is more than 25%. So your money's going down at what, 7% a year, minimum. You're supposed to get 5 because interest rates are 5, but you're actually getting one and a half because the banks make the rest. So you get 1.5. Yet inflation is 7, so you're down 5.5 a year. That's what's happened in the last four years. Now, all right, not every year might be that big. In some years it's bigger. Even if it's only 2 or 3%. Compounding over 10 or 15 years, that can be a third or half your money.

So every generation your money halves pretty much.

Oh, I'd say it's quicker than a generation. What's a generation?

50, but yeah, 15, 20 something, I'd say.

Yeah. I mean, depending on how high inflation and how high interest is. So now of course, the banks and governments and central banks, they don't want you to know this because they make money on your money, they make money lending you money, they make money lending out your money. But of course, more people are watching this show. And so instead of saving money in a bank, which is degrading it, you need to store money, you yourself, so at times you can get higher interest accounts. So if you can get a 5% interest account, that that's probably just about nil. Because by the way, one of my laws for riches, I've got a formula for riches. I've got formula for wealth. And one of the parts of the formula for riches is, is inflation plus X. Because if, if you don't beat inflation, your money is going down. So in order to get rich, you need to make inflation plus X. Then there's leverage, then there's compounding on top of that. So savings is. What pisses me off about savings is the propaganda is that you'll be your money. The banks are a custodian of your money and they will look after it. And your pension and your future and your retirement will be taken care of and you can live long and happy, long into retirement, relaxing, doing what you want, because you'll own your house, you'll have. This recent budget should warn you that your pension is not safe and secure and they're coming for your inheritance. Do you even know how much is in your pension or where your pension is invested? Add to this the recent inheritance tax grab on your pensions and the risk of a market crash. You probably didn't know this and I didn't until recently, but physical gold can be added to your pension. Pot gold is inheritance tax free and has grown 700% in the last 20 years. You probably know from my content I'm investing heavily in silver and gold and that's why I've partnered with direct bullion. Myself and Nigel Farage are brand ambassadors and direct bullion can help you with gold to protect and grow your pension. I buy my gold and silver from direct bullion and I don't earn any money on any purchases of gold or silver if you buy direct from direct bullion. So if you go to robmore.directbullion.com you can get a great price on your silver and gold and you can get the Pension Gold Investing Guide complete for free. As you know, I don't do many strategic partnerships and when I do, I do them with people who are credible, who've been doing it a long time, who invest in things that I invest into. And gold and silver's going wild. I'm investing heavily in gold and silver and I recommend you check out robmore.directbullion.com nest egg. A savings account and a pension, that's one big lie.

No, when we record, you scare the.

Shit out of everything.

Okay, so number two. So savings. Number one. Number two is inflation.

Yeah, inflation is a hidden tax and tax is a hidden theft.

How is it a tax?

Well, actually, and you could argue inflation is a theft. So I was talking to Tom Bilyeu recently and he said we all accept that inflation is normal. I don't. Inflation should not be normal. We should not accept it because if you've got a hundred dollars today, you should expect that it's $100 tomorrow. That is your human right. And I thought, yeah, like how can you prepare for tomorrow, pension, retirement, if your what you save or invest today goes down? You can't. So inflation is the increase in prices or the reduction in your spending power. Pack of polos now 65, 70p depending on where you buy it. Back when I was a kid it was 10p, that's inflation. So it is an increase in prices, an increase in cost of living, a decrease in spending power. Why does it have to be that way? It doesn't. So do you know how inflation first started? Well, you do now, don't you? Because we talked about this. But please just imagine you don't. So silver was the first precious metal that was used as coins. Copper and other non precious metals came later. And just to create a little bit of extra profit, they would melt two, three, as much as they can get away with copper into the silver so you couldn't notice it. So you thought you were getting 99.9 silver and you're actually getting 96% or 97% copper, silver, 3% copper. The 3% is a devaluation of the value of silver, which is how inflation essentially started. Now inflation is literally controlled by the central banks and government.

Just a button.

Yeah, they control inflation, they control interest rates, they control monetary policy, they control money printing, they control what is taxed, how much is taxed, they control it all. So do you think they think about all these for the benefit of humanity or do you think they think about all these for maximum shareholder profit?

The latter.

What is a bank?

You would assume it's somebody who looks after your money.

What a great fucking lie that is. That's told. If you'd like to make, manage and multiply more money and build multiple streams of recurring income, and you'd like to meet one billionaire and at least seven millionaires face to face, I recommend you join us at an upcoming money maker summit. The link is robmore Live Money. Now you need to be quick because we don't run many money maker summits throughout the year and we keep relatively small numbers. 150 people, sometimes 200, sometimes less. You'll learn the strategies and tactics to get your tax bill down, your income streams up, start and scale your business, make, manage and multiply money. And if you upgrade to the VIP tickets, you'll be able to have dinner with multimillionaires, you'll be able to get champagne reception, Q and A sessions with multimillionaires. And whilst I do occasionally offer some subsidized tickets, there's just small upgrades for these special VIP tickets. So go now. At robmore Live Money I'm very excited to announce a special long term partnership with Direct Bullion. People must ask me hundreds, if not thousands of times where I buy my gold and silver. How to buy gold and silver? Can you buy gold and silver in your pension? Many people know from my content I'm a huge fan of real money. They call gold God's money. So if you'd like information on investing in gold and silver, knowing where to invest, how to invest and how to invest gold and silver into your pension, which is huge, go to robmore.directbullion.com I get my gold at under spot price. This is not an affiliate deal. I won't earn anything on any of the gold or silver you purchase. I've got a special deal where I get a good price on my gold and silver and I've also got a very special deal for you, my loyal listeners and subscribers. Spot price or better@robmore.directbullion.com A bank is a for profit corporation to maximize shareholder value and its product is you. It makes money out of you. It's like, you know, on social media, if you're not creating content, you are the product. Your scroll and your time on social media for hours generates all the ad revenue. So if you're a creator, you're creating revenue and if you're a consumer, then you are the product. Without you, the banks can't make any money because they haven't got any money to store and lend and invest without you giving it to them. Now, okay, they can print money and create money and lend it to you, but without you to be able to lend it to you to charge interest to. So no, a bank is not a safe place to store your money. It is a guaranteed way for the central banks and governments to make billions. And do I have a problem with that? No. Because I want to make money in my business, you want to make money in yours. And everyone watching and listening wants to make money in theirs. But generally us normal people, we have to tell people what we do. It is probably not going to work for us if we lie about it. We're probably going to get exposed if we lie about it. And it probably benefits us to be honest about it, whereas it doesn't benefit the banks. Hey, just want you to know, you know, when you give your Money to us. It's not necessarily insured or guaranteed. We can seize it and freeze it at any time. And we're going to lend, invest it out. And we're going to take big risks because we're only going to keep 10% of your money in and we're going to lend 90% of it out. We'll give you one and a half percent interest. We might make five or six or seven or more. And then we're going to print loads for free. And then we're going to lend it back to you for your mortgage, and then we're going to lend it back to you for your car, and then we're going to lend it back to you for your conservatory. Oh, and you know, the money that put into your pension, we're probably going to spend that as if they're going to fucking tell you all that.

But if you used to advertise on tv, you'd need the really fast T's and C's right at the end of all the things that could possibly go wrong. But the bank, as soon as you sign up, they're like, yeah, cool, just deposit your money here.

Yeah.

No, no, don't read those Cs and see, that's fine.

Yeah. I mean, I've done an episode and we've read the T's and C's of bank accounts. It basically says, your money is ours. We can do what we want with it, basically. Great.

Really reassuring.

So I heard Dave Ramsey say this, and I like it. Be an owner, not a loner. When you give your money to the bank, you think you're saving it. You're actually lending it to them. Now, let me ask you this. If I gave you no guarantees, no collateral, no insurance, no transparency, would you lend me your money?

No chance.

No. Well, that's what the banks do. And you're lending your money to the banks. When you're an owner, you're borrowing money from the bank. I've said this before, I'll say it again, I love it. I first heard Dolph Derouss say this. I like to give people credit because most people nick my content all the time. They never give me credit. I like to give credit. If you borrow a million from the bank, you have a problem. If you borrow 100 million from a bank, the bank has the problem. So be an owner, not a loaner.

How much as a percentage would you leave in the bank? So I'm assuming you have some money in the bank because you don't want to have to Sell an asset every single time you need to do the food shop.

Yeah. So, yeah, you want to leave enough money in for all your direct debits, your standing orders and your expenses, obviously. And it's convenient. Direct debit standing orders rather than having to pay cash everywhere. And oh, by the way, they're stopping you paying cash. Why do you think? So they can get more of control of your money. But anything above that, maybe keep three months liquid. I mean, your goal one is to have one month liquid, then three months liquid. But personally, I'd rather have that liquidity in, in the S&P 500 or the FTSE 100 under an app like Charles Stanley, Vanguard, Hargreaves, Lansdowne, that I manage myself. I think money is safe. Well, let me ask you, is your money safer in one bank or in 500American companies?

The latter.

Yeah. Because it's diversified.

Yeah.

And one bank could go bust. 500American companies aren't. No, not even one of them probably will. So it's not really about savings, about liquidity. You should, I don't think you should save money. I think you should store money and then invest it. And what people have been trained to think as savings, you should think as liquidity. And by the way, most people won't tell you this. You'll never learn this at school. Do you know the people who teach you economics at school are on 40 grand a year in debt broke.

The business teacher that's never had a business. Yeah.

So, okay, number three, we didn't do liquidity. Let's just talk about that real quick. So people assume the rainy day emergency funds, which you need, by the way, need to be in current or savings accounts. They do not. They could be in gold and silver. They could be in the S&P 500 or the FTSE 100 if you chose, because they are liquid enough. So I prefer liquidity over savings. Now, look, I do have some money in high interest bank accounts. Bank accounts I think are okay. The higher the interest, the higher the risk to the bank. So you have to be careful with that. And I don't, I don't. It sounds like a hate on the banks. I'm not. I'm just telling you what they are. That's not hate. But my mission is to help as many people on this planet get better financial knowledge. And I think knowing how the system works is better financial knowledge. So you want one to three months liquidity and then you're one. You've always got money. If there's an emergency issue Boiler goes, you know, you got to pay some emergency insurance. But I mean in a business, if you could build 12 month liquidity, that really makes you really strong and secure.

And where would you store that?

Well, I wouldn't want to store it all in one place because that's a risk. So probably anywhere between high interest savings accounts, multiple savings accounts. Here's something you have to be really careful of. You think, oh, I'll save some money with Barclays and some monies with RBs and some monies with Coutts. And then you look and all those three banks are owned by the same bank. So if I'm going to have money in bank accounts when I can get fair interest, I want it in different, not just banks, but banks. Banks.

Yeah.

It's also for the insurances. I mean I don't trust these insurance policies. You know, up to 85 grand is insured. I don't trust it. I don't imagine that the banks are going to be in some war room when there's a major global financial crisis and going, oh, first things first, gents, we need to pay Kane Barron and Rob Moore back. I don't think that's what they're going to say in their war rooms. Can't imagine Churchill saying that, can you? So I don't trust those. But at least if your savings are in multiple in different banks. But S&P 500, FTSE 100 got really secure, Gold, silver, really secure.

So I want to go back on that because you taught me this, that £85,000 isn't per bank, it's the umbrella.

Company, per banking group.

So you might be across three or four banks go, oh great, I'm insured.

They'Re owned by the same banking group.

So then you're fucked.

So then it's 85, not 85 times four.

Yeah.

Yes, in the small print that only.

Rob Moore would read.

Actually Mark Homer. Mark Homer taught me it, my business partner.

That makes more sense. Okay, ready for number three?

Yeah.

Quantitative easing.

Yeah. So money printing. So quick economics lesson, supply and demand. So if there is more money than products and services, are prices lower or higher?

Higher.

Okay, if there is less money and more products and services, are prices lower or higher?

Why have you stumped me on that one? I'm going to blame the four o'. Clock.

Okay, so prices increase with scarcity. So if there are less products and services for the same amount of money, you will have a potentially higher or increased price. And the opposite is the case. So if you pump more money into the system, without increasing the number of products and services, you devalue money.

Yes.

Because you've got more money compared to the stock with you. Yeah, yeah. And vice versa. So when lockdown happens, you think, oh, furlough, that's really good, looking after people. That is billions pumped into the economy created out of thin air through quantitative easing, but without any extra products and services. That just makes all the existing money in that economy worth less. So, I mean, the money printers are on free for all. And when I say money printing, yeah, there's a cash element, but. But most of it now is just digital, just created by the central banks, distributed down to the retail banks and then lent to you.

Is that how it gets into circulation? Through lending?

Yes.

Okay.

Yes.

And then they whack an interest on that.

Yes. And then they're earning interest on capital they didn't even have to create or earn. Good system. Yeah, smart. I mean, I want a bank. Yeah, you'd do it if you could. So as nations grow, more population, more people, more products and services needed, more money required. How can we generate that money? We can tax them, we can borrow from other nations or we can print it, essentially. And right now we're borrowing trillions, we're printing trillions and we're taxing trillions. Literally. Now the tax budget is more than a trillion. A trillion was spent on. Actually, just check the figures there. But I know I. I don't know. Actually, just check. What's the yearly tax revenue in the UK? I think it's like 1.2 trillion. Let's see if I know my numbers. I don't mind being wrong, by the way, because then you can always learn.

Apparently 2223 was 788 billion.

Okay, so probably not far off then. We're approaching a trillion. Because that was a couple of years.

Ago, that jump, by the way. So 2021 was 583 billion. 2122 jumped from 583 to 715 and then 715 to 788.

And let me ask you this. So if their tax revenues are going up hundreds of billions, are we getting better roads, better police, better hospitals, better quality of life? No, no, it's all fucked. Why? Because loads of that is going on.

National debt from all the other.

I think the national debt, I think they quote at 2.3 trillion. Have a look. I mean, I don't believe them because if, you know, like if you're with your mates and they say, how much are you in in bad Debt, you're probably going to under exaggerate 2.7 trillion. Right? So it's nearly 3 trillion, which means I usually double. So if they say inflation is 3, I'll usually assume it's 6. They say they're in 2.7 trillion of debt. Well, probably, I probably can't double it, but it's going to be more because they're not going to tell you the full story. So that 2.7 trillion generates billions in interest that we have to pay for in our taxes and it doesn't even pay the capital down. So they borrowed hundreds of billions, not millions, billions, Hundreds of billions from other nations. Our debt goes up, the interest on the debt goes up. So therefore the tax has to go up. And if they can print a load of money into the system, not only does it reduce the value of money, what does it also reduce the value of relatively?

Say that again, sorry.

Okay. If trillions are pumped into the system, it reduces the value of money, assuming that there aren't extra products and services because of supply and demand. So if money is reducing in value with money printing, what else is reducing in value with money printing?

My savings.

That's money.

Yeah.

And what about what, what other things do you have? You have credit and debit, you have debtors and creditors. So debt, all your debt.

That sounds good.

Well, if you are the government and you pump hundreds of billions in and you can say, oh, this is to look after you in the lockdown that we created, you know, we are your night and shining armor. And by the way, you know, in the back door that's just paid that 2.7 trillion down relatively, you're going to do it, you're not going to pay it back. How are you going to pay 2.7 trillion back?

Yeah, you can't, I mean, quadruple the tax for everybody and still barely make a dent.

Well, you can't, you can't quadruple the tax. If it's 70 to 80% of what we earn and spend, that'd be 300 fucking percent.

I'd love that.

Yeah. So yeah, quantitative easing, money printing devalues your money. So people don't know why the rich get richer. And there's lots of theories on why the rich get richer because the rich control the politicians and the rich control policy and you know, they're greedy and powerful and yada yada yada. But actually the reality of why the rich get richer is because the rich own assets. Broke people pay money to the rich who have assets. Money flows from the broke to the rich. The rich own the houses, the broke rent them, the rich own the businesses, the broke work for them. Now, I'm not knocking broke people, it just means they're not good with their money or not as good as rich people. But if you own an asset, inflation pushes the prices up, but it also pushes the debt down. So I've got tens of millions of pounds worth of mortgages, and so the government have been paying them off for me at 7% a year since lockdown. Thank you. As well as that 7% a year in inflation, pushing prices up. And what does it push the prices up as? Well as food and electricity and assets like property, like gold, like silver. So you need to invest. The quicker you start investing, the more money you'll make anyway. But as soon as the government money print, your debt will go down. Money print and inflation, your asset prices will go up. Boom, boom.

Number four, tax. Tax.

Well, I mean, tax is not a hidden, stealthy, secret way to steal your money. I mean, if you think about it, and I've got the answer to this, but I want to pose this to everyone, so stick it in the comments. If the government print as much money as they want, why do they need our tax?

That is way above my pay grade.

Google it. Or ChatGPT it. If the government print money, why do they need tax? I mean, there will be an economic reason, but I mean, I guess inflation would go wild. The government literally create money, so why do they need to charge us 70% in tax in what you earn and what you spend? I don't think they do.

It's a very long answer.

Is it?

But it's a whole episode.

Is it?

Yeah.

All right. Should we do it as a separate episode?

Yeah.

Yeah. So that would make a note of that. Yeah, I'd love to go into that. And I'm not saying they don't need tax. Like I said, I think inflation could be wild and volatile and really high, but we should explore that.

That'd be a good episode.

Yeah. But I don't mind paying tax if I think it's being invested wisely, but it's not. And it's just going up and up and up and the services are going down and down and down. So every time there's a tax hike, it just feels like you're stealing money from us. Big scam.

Yeah. Suppose if you're paying all this tax and there's constant potholes, you can't get in the nhs, you can't get a dentist, you can't get this. Well, what am I paying it for?

Yeah, well, you're paying it twice because you can't get in the dentist, therefore you have to go private. You can't get to the doctors, therefore you have to go private. You. Someone crashes into you in your car and your insurance goes up even though they crashed it in their car. They've got a 500 quid car, you've got 300 grand car. It's con. It's a massive con. Anyway, should we rant on another episode about that?

Let's do it.

All right. There are solutions, by the way. There are lots of solutions. Start a company, get your tax bill down by using legitimate write offs. Start investing in asset use, asset write downs. You know, there are a lot of solutions. I don't just want people to think that, you know, I'm moaning about this and it's all doom. It's not. You just have to get a good accountant. You have to get on the IRS or the HMRC website and figure out what you can offset. Get specialist knowledge. Start a company. Start running expenses through the company rather than drawing after corporation tax and income tax. But be very careful with your money. Spend minimum, invest maximum. Don't save it, store it.

You missed the best way to save tax. Subscribe to the podcast.

All right, how does, how does subscribing to Ash? I like what you did there. Don't ask follow up questions. But what you're saying is we're going to do more content on this and you're going to ask me more questions about this. Yeah. Maybe one day we should get my accountant and my business partner on because, you know, technically they're way better than me.

Let's do it.

Yeah. This episode was brought to you by Disruptive Media, helping bold entrepreneurs stand out through podcasting, video and social content. Visit disruptive media.co.uk to learn more.

Foreign.

This episode was brought to you by Disruptive Media, helping bold entrepreneurs stand out.

Through podcasting, video and social content.

Visit disruptive media.co.uk to learn more.