Liam Shorte

A lot of younger people do.

So they're trying to build portfolios that are using a little bit of leverage.

You'll find a lot of people now have moved away from that because of the fear of margin calls.

They're using internally leveraged ETFs, like the GEAR ETF.

A lot of people now, what you will find instead of borrowing against their home to buy an investment property, may start looking at borrowing against their home to do shares, ETFs, and investments like that because it's the lowest form of borrowing they can get.

I think a margin loan, you're probably talking about

8.59%, whereas you can borrow against your home loan at 5.5%, 6%.

Well, it is because now you're looking at, in periods of high inflation, the new method may suit gold investors better than the 50% discount.

So it just depends on what we see going forward.

So let's say you buy $100 worth of gold today, and let's say there's consistent inflation of 7.5%, really high inflation for the next 10 years.

So you're looking at over, if you compound it, it's over 100% inflation.

Well, your $100 of gold, the cost base will go up the same.

It will go up to $200.

So when you do sell it, if it's gone up to 250, under the 50% discount, they'll have got $75 back.

Under the inflation method, the cost base is $200.

They're selling for $250.

There's only $50 that's subject to tax.

I'm keeping quiet about it, James, because I don't want to raise the flag.

It does mean that super is now still the most attractive place to hold your assets.

Yes, but this is still to get through parliament.