Crash Course 2.0: Chapter 2B — Wealth - Peak Prosperity

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[gordonbone]

Nine years ago, I retired from the Army I insisted that we would buy an acreage to live and the need to possibly survive on in the decades ahead. I was familiar with the initial crash course along with other books such as The Creature from Jekyll Island. One primary aspect of 'wealth' through the millennium was always based on owning land. I leased first, then bought 3.5 acres on which we now live. There is an independent well. (Water is wealth). I have the ability to grow enough food to sustain myself. (Food is a form of wealth) I also buy a percentage of silver every month. (I pay me first before anything else, along with savings) There is over an acre of forest (more wealth). This is a priceless educational series. Knowledge itself is wealth. Using it produces more. In reference to this series, there is a statement that is millennia old. 'He that hath ears to hear, let them hear. And to those that hear shall more be given.'

[nuebanjoman]

If I home schooled my kids, I would build a curriculum around the Crash Course to prepare them for their lifetime.

[miket]

Chris we freaking love you... please look after your own health(sorry Adam practically abandoned you for even more money than he already has).

You're stressing yourself out... looking like the end of your second term as president

[jordyhumby]

Thank you Chris for your knowledge. Very interesting especially on money as claims on wealth.

[evegreenification]

Judging by the comments, we’ve got a bunch of new people waking up❤

[ytmish]

Very valuable video(s). There's more clarity now.
But, while I agree with you about primary and secondary wealth,
To me, primary wealth is labor. And the only real wealth, if you think about it.
No matter how much primary wealth you have, you need people to work on that primary wealth.
So, in my mind, the money and debt represent control over others' labor.
Money buys current labor of people.
Debt buys future labor of people.
Growing debt clearly means greed for power of people's labor.
So, again and again, we get back to the same issue: slavery.

[briannewman]

This debt discussion has left out the unfunded liabilities. The unfunded liabilities of governments are many time greater than their debts.
Historical evidence suggests that unfunded government liabilities are more important than debt. This phenomena can be observed today with the proclaimations from government officials when they state that the government always pays its bills. The bills that they are talking about is government expenditure and not the repayment of debt. Government expenditure today is largely driven by unfunded liabilities.
Historical evidence suggests that governments will default on their debts before they default on their unfunded liabilities.
Examples are the Roman Empire, the British Empire and Argentina on an ongoing basis.

[gordonbone]

When will the tipping point be reached? That is the great unknown. However, there are indications that it is drawing near. We see the charts that are very concerning. The only avenue to prepare as individuals is to eliminate all debt as soon as possible. Being debt free you do not have any financial obligations to anyone!

[neihgnot]

Chris has been saying the same thing for 10 years and still going strong... when will folks listen?

[jennymontague]

Reality BITES. I am not ready for this as most of us aren't. I could start a garden, but I'm in 100-120 Central AZ and starting a garden now would be horrid with my disability (bad knee not healing). Water is a fear as well here as is transportation. I'd like to find a community someplace else that has good water and growing soil and a place for animals. I do know how to hunt and skin small animals and can do some canning. So that is what I'm looking, a healthy communie of sorts. In the 70's they used to be all over, but really hear of them anymore. We will need to help each other and learn those old skills and fast.

[dangerzone]

Too much federal government debt? No problem. The government could just stop selling securities.

[dennissalisbury]

The legitimate purpose of money is to mobilize labor into productive enterprises, manufacturing, farming, mining, forestry, fishing, defense, construction, transportation, etc., which are products and services that can create prosperity. Labor has zero shelf life, you have to use it or lose it each hour of the day to produce prosperity.

[kheongsannchan]

Hi Chris, great content! Could I ask you to clarify something about primary, secondary and tertiary wealth in the context of a country like Singapore. You said there were some wealth rules that a country without primary wealth can have no secondary wealth, and a country without secondary wealth can have no tertiary wealth. However Singapore has no primary nor secondary wealth, and yet it is are considered a wealthy country, one of the most wealthy in Asia.
Could you explain how they are able to do this, in view of your wealth rules above?

[freedomall]

As a disabled US Army Veteran I can tell you I have no hope or faith in any part of The Government, let alone the currency. 💵💵 🤮

[SilverShieldcollector]

I wish Chris didn’t get mixed up with money and currency

[jackharper]

Thanks for scaring me .Please give some solutions now.

[dangerzone]

Too much household debt. No problem. Introduce regulation so that no one lives beyond their means

[klondike]

If 2008 nearly broke the system, what's the solution?

[darin]

Towards the end of the video you refer to GDP as the measure of the real 'stuff' in the economy, but isn't government deficit spending a component of GDP? That doesn't sound like 'Stuff' to me.
Can you explain? Is there a better measure (or even a potential better measure) of 'stuff in the real economy'?

[gardenlizard]

If debt in $US dollars and you own the $US Dollar printing machine, then you can print it. If debt in another denomination or commodity (gold, silver, etc... ) then USA in trouble with creditors. Happened Weimar Republic to pay off WWI debt in 1920s leading to currency collapse. 😊