Tom Bilyeu

Is this like a classic moment where we can look at this big cycle and go, oh, we know where this goes.

Like the music has stopped, everybody.

Or no, it's a bit harder to judge than that.

or you're going to um get back money that's worth less because they print the money i've never heard anybody say it like that so let me just make sure that i understood that uh the government has effectively issued too many bonds so people have there are a whole lot of companies and a lot of other things too okay very good point

So we're not just buying the bonds from the government, we're buying corporate bonds, municipal bonds, like anybody that wants to put some debt out into the market.

Government, of course, in fact, I'm actually curious, what's the ratio roughly, if you know this, between corporate debt and government debt?

Yeah, that's terrifying.

So even if you took every dollar that our entire country makes, I think it's true globally.

If you took every dollar that we make globally and tried to pay off the debt, you wouldn't be able to do it.

Meaning that inflation was chipping away at your buying power.

Yeah, for people that don't know, that's World War II.

Don't worry.

I'm not in the middle.

I'm not going to compromise.

Yeah, so this is where this gets really breathtaking.

So you've talked a lot about this idea that there are things, you even mentioned at the beginning of this episode, there are things that have not happened in our lifetime, but they happen over and over and over.

And so it is very easy for me as somebody born in the 70s to think,

oh, war isn't a thing that happens in the US, it's something that happens elsewhere.

Populism isn't something that happens in the US, it's something that happens elsewhere.

But it does happen.