Shadee Elmasry – NBF 203 Affairs of the Ummah

Shadee Elmasry
Share Page

AI: Summary ©

The transcript discusses various topics including the impact of the coronavirus on the world economy, the US dollar being the most trusted currency, and the potential threat of China's alternative currency. The speakers emphasize the importance of having a good understanding of Allah's teachings and the importance of monitoring inflation and devaluation of currencies to avoid poverty and whiming behavior. They also mention a video about Jesus and a chat with a person named Jesus.

AI: Summary ©

00:00:00 --> 00:00:04
			salam ala Rasulillah while early
he was happy to Manuela, we're
		
00:00:04 --> 00:00:05
			gonna have a mini stream today
		
00:00:07 --> 00:00:12
			we had a couple of reasons to be
late and as usually happens is
		
00:00:12 --> 00:00:17
			Ramadan is a bit of a wacky and
crazy schedule that's how it is
		
00:00:17 --> 00:00:20
			but we'll try to get something
going today and we got a little
		
00:00:20 --> 00:00:24
			bit of a stream today so we're
going to do our dua we'll start
		
00:00:24 --> 00:00:27
			off with our da if you're Walmart
when you're ready with that tell
		
00:00:27 --> 00:00:33
			me we'll start with our dua for
Wednesday, we will read some
		
00:00:33 --> 00:00:38
			affairs of the OMA the collapse
the shifting away of the dollar.
		
00:00:38 --> 00:00:40
			Are you familiar with this? Are
you aware of this? Like this is
		
00:00:40 --> 00:00:43
			one of the biggest things that's
happening that no one's talking
		
00:00:43 --> 00:00:44
			about.
		
00:00:45 --> 00:00:50
			Now like Saudi Brazil, India,
they're no longer going to use the
		
00:00:50 --> 00:00:50
			dollar
		
00:00:52 --> 00:00:57
			you want Yeah, yeah, I saw that.
Yeah, they're either gonna do with
		
00:00:57 --> 00:01:00
			their own currency directly or
they're gonna go with the yuan and
		
00:01:00 --> 00:01:04
			that's something that sounds like
a bit abstract for a lot of people
		
00:01:04 --> 00:01:10
			but the actual impact of it is
probably worse than a war Yeah,
		
00:01:11 --> 00:01:17
			the to do that too. And then the
hilarious thing Biden spokesperson
		
00:01:17 --> 00:01:21
			comes up and says we will not
stand this is against Americans
		
00:01:21 --> 00:01:21
			rights.
		
00:01:22 --> 00:01:26
			Are you like seriously in another
world? Seriously in another world?
		
00:01:29 --> 00:01:30
			Okay, we're ready for the dot.
		
00:01:31 --> 00:01:36
			This Bismillah R Rahman r Rahim in
Fatah like effort him will be in
		
00:01:36 --> 00:01:40
			Leo ferula kala Houma taka
Demimonde them beggar woman at
		
00:01:40 --> 00:01:47
			work or wait a minute Mattawa take
away dia Consolata most of the
		
00:01:48 --> 00:01:54
			way on Surah Kola who nostra z is
we can end a lie Oh gee, how would
		
00:01:54 --> 00:01:58
			you infer Daniel karate or mineral
mocha Robbie? What Jabberwocky?
		
00:01:58 --> 00:02:02
			lled Fatra. Sama Watty will
Bismillah R Rahman Rahim Nostrum
		
00:02:02 --> 00:02:05
			and Allah who are fat honk, buddy,
well, but she didn't want me Nene.
		
00:02:05 --> 00:02:10
			Yeah, you're Latina man who sort
of like and I've got a seventh
		
00:02:10 --> 00:02:14
			embodiment. How are you? Anyone
else lady in a law? Girl. How are
		
00:02:14 --> 00:02:18
			you in an onslaught? Hola. Hola.
Hola. Hola. Hola. Hola. Heyoka
		
00:02:18 --> 00:02:22
			units are producing it when I know
the home if it's similar to my
		
00:02:22 --> 00:02:26
			foot out when the lady has fell
into 11 Isn't it? Yeah, at the
		
00:02:26 --> 00:02:29
			moment bein ad mama called for
Humala Hey Tony Be sure you mean
		
00:02:29 --> 00:02:35
			me he will be mersch What's the
accuracy you somehow it will all I
		
00:02:35 --> 00:02:39
			will do. Boom ah whoa Wally. You
know the Bismillah R Rahman r
		
00:02:39 --> 00:02:43
			Rahim elevens another Quran Allah
Javelin la Righto Kasha Mutasa
		
00:02:43 --> 00:02:48
			Dominica Shia till we till can I'm
done another rewarding nursing
		
00:02:48 --> 00:02:52
			Allah mitzvah? karoun who Allah
Allah de la ilaha illa who I
		
00:02:52 --> 00:02:54
			remember why we were sure that you
are Rahman Rahim. Allah Allah
		
00:02:54 --> 00:02:58
			Allah, Allah Allah Allah will
medical produce as salam ala Menon
		
00:02:58 --> 00:03:03
			Muhammad Rasul Jabbar on what's
kept bear Subhan Allah He may
		
00:03:03 --> 00:03:06
			actually go on a while lol Kyla
Colbert will Musa widow allow us
		
00:03:07 --> 00:03:11
			oh snap you said behold MF is
somehow it will all do well as is
		
00:03:11 --> 00:03:15
			well hacky? Well, you don't have
civili tyramine column is malby
		
00:03:15 --> 00:03:18
			other name we will sue to be a
name when she visited you in a way
		
00:03:18 --> 00:03:21
			but there should be a decent way
to kind of have a chef attain has
		
00:03:21 --> 00:03:23
			center enough seat below her
collect Berman shettima aka
		
00:03:24 --> 00:03:28
			genuine ncoi You know don't ask
the jar who are jealous Anna Oh,
		
00:03:28 --> 00:03:29
			Taka desert?
		
00:03:30 --> 00:03:31
			Willa Illa.
		
00:03:32 --> 00:03:35
			Allah how many jobs will cofina
hoodia it will only be coming
		
00:03:35 --> 00:03:37
			through to him which I yield to
him on Mercury Monica at him.
		
00:03:38 --> 00:03:42
			Outfit nada nada de vida terminal
genuine INSIA for the coffee the
		
00:03:42 --> 00:03:48
			coffee mo he Subhanak era Madame
Shattuck was a soul tonic Darsana
		
00:03:48 --> 00:03:53
			Billa will be Esma it will be it
la mala it Allah, Allah wa Lucilla
		
00:03:53 --> 00:03:57
			or saw the interminable de la
center enough CB La ilaha illAllah
		
00:03:57 --> 00:03:59
			Muhammad Rasool allah sallallahu
alayhi wa sallam, Allah Muhammad
		
00:03:59 --> 00:04:04
			Hosni vi Nicola de la, McAnuff
Nibi Kenefick Allah de la Warham
		
00:04:04 --> 00:04:09
			Neva quadratic Allah Allah Allah
aquatinted Ducati wa Raja he, Viet
		
00:04:09 --> 00:04:14
			and Mr. Li et in Yahweh Earth and
mystery the React and mystery
		
00:04:14 --> 00:04:18
			thing yeah direct kill her
leukemia directed her to Kenya
		
00:04:18 --> 00:04:21
			direction hediki Nick finisher
regulatory Kenyatta Jacobi lane
		
00:04:21 --> 00:04:22
			and owner
		
00:04:23 --> 00:04:27
			a lotta Anthropos in a category
Shan Kadir Bismillah infc Me
		
00:04:27 --> 00:04:31
			Colima yo The Omen Khalifa Asad
Allah who she felt he was smell a
		
00:04:31 --> 00:04:35
			little bit Allama bananas edible
bass ish we enter Shafi wifey and
		
00:04:35 --> 00:04:40
			10 wifey the Shiva ala Shiva,
Shiva Nova Lusaka Mola Alma Caffee
		
00:04:41 --> 00:04:45
			wifey amedia Machida funny could
have been Chedid ofany mineral had
		
00:04:45 --> 00:04:49
			dual Hadid, Walmart Odisha DDLJ
Shira did with Charlie Norman
		
00:04:49 --> 00:04:54
			knotek, why is the man is one
extra minutes today Koba remember
		
00:04:54 --> 00:04:57
			her apartment up I go harass them
harass, go to eat them to eat.
		
00:04:57 --> 00:04:59
			Yeah they'll jewelry will crumb
		
00:05:00 --> 00:05:04
			for one hour he will sell quintic
Fini Machado at the shore and
		
00:05:04 --> 00:05:07
			against Allah Allah Allah Akbar
SallAllahu ala Sayidina Muhammad
		
00:05:07 --> 00:05:10
			yawata early or some of us are
limited Sleeman Kathira mpirun
		
00:05:10 --> 00:05:14
			work and we will hamdulillahi
rabbil Alameen wa harem of Alton,
		
00:05:14 --> 00:05:19
			Hawala, Kalahari or hamara Hey me
		
00:05:20 --> 00:05:22
			to low take two minutes for
		
00:05:23 --> 00:05:26
			Wednesday between the hood and
Austin jolla Mr Jeff.
		
00:06:29 --> 00:06:33
			Allahu ala Sayidina Muhammad wa
ala earliest wasabi Salam Subhana
		
00:06:33 --> 00:06:37
			wa barakaatuh believes that Yama
LC foon was monada Moosonee and
		
00:06:37 --> 00:06:42
			our hamdulillah Europe Bill Isla
me
		
00:06:52 --> 00:06:57
			All right, listen up in a little
bit, we are going to zoom and
		
00:06:57 --> 00:06:59
			we're going to be with oh you
close it
		
00:07:02 --> 00:07:07
			yeah, sorry about that in a little
bit. We are going to zoom and we
		
00:07:07 --> 00:07:08
			will be
		
00:07:11 --> 00:07:14
			we're going to be on U of T
		
00:07:16 --> 00:07:19
			we're going to be on the
University of Toronto MSA
		
00:07:19 --> 00:07:22
			operation Okay, so
		
00:07:25 --> 00:07:30
			just join us there but let's read
our quick story here
		
00:07:32 --> 00:07:34
			on the currency and let me pull
that up real quick
		
00:07:37 --> 00:07:39
			who's there Hamadani is that you?
		
00:07:41 --> 00:07:43
			So that give her what you up to
		
00:07:55 --> 00:08:00
			Alright, let's get the just the
quickest breaking summary breaking
		
00:08:00 --> 00:08:02
			news on on this
		
00:08:05 --> 00:08:07
			this is going to be something
where like
		
00:08:08 --> 00:08:13
			it's one of those things that goes
unnoticed not really much talked
		
00:08:13 --> 00:08:15
			about in the mainstream of the
world.
		
00:08:17 --> 00:08:18
			Where I've Been where you going?
		
00:08:19 --> 00:08:21
			Yeah, consider what is going on.
Why are they screaming like that?
		
00:08:22 --> 00:08:23
			Weirdos is that
		
00:08:27 --> 00:08:30
			Bloomberg can't read it paywall.
		
00:08:45 --> 00:08:45
			Okay
		
00:08:52 --> 00:08:55
			so everyone makes sure you hop
onto the Zoom link that I just put
		
00:08:55 --> 00:08:56
			up there. Okay.
		
00:08:58 --> 00:09:00
			You don't have to register for
anything.
		
00:09:01 --> 00:09:03
			Just go to the Zoom link, because
		
00:09:05 --> 00:09:07
			we're going to go there in a
little bit to talk to
		
00:09:11 --> 00:09:14
			the University of Toronto
students. Since World War Two, the
		
00:09:14 --> 00:09:17
			US dollar has been the world's
strongest currency. What does that
		
00:09:17 --> 00:09:22
			mean? It means that because the
people believe in the stability of
		
00:09:22 --> 00:09:26
			the United States, that's really
what it is. It's essentially
		
00:09:27 --> 00:09:31
			trust. They trust that the United
States they're stable, their
		
00:09:31 --> 00:09:34
			currency is going to be stable.
They're working, they're producing
		
00:09:34 --> 00:09:39
			stuff, they're producing wealth.
Okay. When two nations trade, they
		
00:09:39 --> 00:09:44
			usually trade through the dollar.
Okay, so when they make a deal of
		
00:09:44 --> 00:09:49
			some sort, the currency in the
middle is the dollar. Well, what
		
00:09:49 --> 00:09:52
			does that mean? That means more
people are buying the dollar. So
		
00:09:52 --> 00:09:55
			that further boosts up the dollar
and this has been the case since
		
00:09:55 --> 00:09:56
			World War Two.
		
00:09:57 --> 00:10:00
			Okay. And but economic
		
00:10:00 --> 00:10:04
			Experts far and wide are now
warning that this power is waning
		
00:10:04 --> 00:10:10
			in a severe way. Now, people also
Americans, we just live with the
		
00:10:10 --> 00:10:13
			assumption that we got the
greatest country in the world and
		
00:10:13 --> 00:10:14
			it's the strongest power.
		
00:10:15 --> 00:10:18
			And not like that's something that
		
00:10:19 --> 00:10:23
			can be can go away. And the weird
thing is, this is the most
		
00:10:23 --> 00:10:27
			important thing. The most
important factor that would cause
		
00:10:27 --> 00:10:31
			a currency to decline is that
nations governments will not trade
		
00:10:31 --> 00:10:33
			through it anymore
		
00:10:34 --> 00:10:36
			when they deal with other nations.
		
00:10:38 --> 00:10:41
			All right, Breitbart economics
editor, John Carney.
		
00:10:43 --> 00:10:46
			I don't know why they're setting
him but warned that the dollars
		
00:10:46 --> 00:10:51
			feeble valuation could be a
serious threat to the US is
		
00:10:51 --> 00:10:54
			crucial influence on the world
stage, Russia, China may be
		
00:10:54 --> 00:10:57
			preparing a new gold backed
currency.
		
00:10:58 --> 00:11:02
			They want stability, but experts
assure the US dollar is still the
		
00:11:02 --> 00:11:04
			safest. Okay. That's what some
said.
		
00:11:06 --> 00:11:08
			It's not only that's, by the way,
that was a headline, another
		
00:11:08 --> 00:11:11
			headline. It's not only a serious
threat, he's that he says it's an
		
00:11:11 --> 00:11:16
			inevitability. We went through
three stages. As you said, after
		
00:11:16 --> 00:11:19
			World War Two, the US was the
biggest economy in the world. In
		
00:11:19 --> 00:11:26
			the 70s, global banking became
basically dollar Central. So when
		
00:11:26 --> 00:11:30
			you with the fall of the Soviet
Union, the entire world, more or
		
00:11:30 --> 00:11:33
			less came under the * of
the US dollar is the most trusted
		
00:11:33 --> 00:11:37
			currency. We're going to trade
through it. That is now drifting
		
00:11:37 --> 00:11:41
			away, China and Russia are
starting to build an alternative
		
00:11:41 --> 00:11:47
			block of currency. Okay. economic
experts comments come in response
		
00:11:47 --> 00:11:51
			to China's ongoing effort to
disband from the dollar. They
		
00:11:51 --> 00:11:55
			began the strategic process of D
dollar rising their business
		
00:11:55 --> 00:11:57
			dealings during Russia's invasion
of Crimea.
		
00:11:59 --> 00:12:04
			Okay, well, Kane reported that as
a result, 3% of reserve portfolios
		
00:12:04 --> 00:12:08
			are currently sitting in the
Chinese you want. Over the last
		
00:12:08 --> 00:12:12
			two decades, the US dollar has
lost 12 percentage points of
		
00:12:12 --> 00:12:20
			market share falling from 71 to
59%. According to the IMF, Kane
		
00:12:20 --> 00:12:23
			subsequently asked, how viable is
China's alternative?
		
00:12:25 --> 00:12:29
			I don't think in the long run,
that the yuan is actually a threat
		
00:12:29 --> 00:12:32
			that is ever going to become the
dominant currency of the world
		
00:12:32 --> 00:12:36
			because the Chinese Communist
system is not open enough. The US
		
00:12:36 --> 00:12:39
			system is very open. Other
countries can trust that our
		
00:12:39 --> 00:12:42
			reserve currency that we're not
manipulating it.
		
00:12:43 --> 00:12:46
			So I don't think China is going to
become the dominant currency, he
		
00:12:46 --> 00:12:49
			says, and I think Europe, all
right, and our closest allies, and
		
00:12:49 --> 00:12:54
			Japan will remain on the dollar.
And I think that the Saudis and
		
00:12:54 --> 00:12:58
			most oil countries want to have a
good relationship with the dollar.
		
00:12:58 --> 00:13:02
			However, I think we're going to
have alternate blocks that we
		
00:13:02 --> 00:13:04
			haven't had for a long time.
		
00:13:05 --> 00:13:10
			Carney further argued that the US
choosing to actively dwindle, its
		
00:13:10 --> 00:13:14
			trade deficit with China will
economically benefit the nation's
		
00:13:14 --> 00:13:16
			economy and bolster the strength
of the dollar. Okay, a whole bunch
		
00:13:16 --> 00:13:19
			of blah, blah, blah, basically
summaries there is that
		
00:13:21 --> 00:13:24
			the US dollar is
		
00:13:25 --> 00:13:29
			when it when it when people stop
trading in it, you're going to
		
00:13:29 --> 00:13:33
			notice that it's so it gets
weaker. And when it gets weaker,
		
00:13:33 --> 00:13:36
			you're going to have issues inside
the country. Because once you have
		
00:13:36 --> 00:13:38
			situations of
		
00:13:40 --> 00:13:42
			not going to say poverty, but I'm
going to say
		
00:13:44 --> 00:13:48
			prices are going up and prices are
going up in an insane way. The way
		
00:13:48 --> 00:13:49
			prices are going up.
		
00:13:52 --> 00:13:54
			Let me just tell everyone here to
come at 310.
		
00:14:01 --> 00:14:06
			The way prices are going up is
pretty absurd. If you look at the
		
00:14:06 --> 00:14:10
			cost of livings everywhere, people
are moving to places like the
		
00:14:10 --> 00:14:16
			south Atlanta, but then salaries
are also lower. Go into Atlanta
		
00:14:16 --> 00:14:20
			and go into Texas only makes sense
if you have an online business.
		
00:14:21 --> 00:14:23
			Right or your salary is going to
be matching because people go to
		
00:14:23 --> 00:14:31
			those states and they see homes.
We huge lawns going for 250 K and
		
00:14:31 --> 00:14:33
			a swimming pool and they go crazy.
We got to move here. Yeah, but
		
00:14:33 --> 00:14:35
			your salary is also less two
		
00:14:36 --> 00:14:37
			unless your
		
00:14:39 --> 00:14:42
			wealth is coming from an online
		
00:14:43 --> 00:14:49
			operation. Okay. All right. So as
I said, we have a mini meat we
		
00:14:49 --> 00:14:51
			have a mini stream today.
		
00:14:52 --> 00:14:57
			Go to the link I just posted the
link I'll put it again. Okay, I'll
		
00:14:57 --> 00:14:59
			put it up again. We're gonna go
here as soon as we log off
		
00:15:00 --> 00:15:03
			Here, we're going to the
university to Toronto MSA to give
		
00:15:03 --> 00:15:09
			a talk on the heckum of IB and I
thought, okay, if you're on
		
00:15:09 --> 00:15:12
			Instagram, you're listening on any
other. Good. Go to
		
00:15:14 --> 00:15:14
			YouTube
		
00:15:15 --> 00:15:19
			and get the link from the chat.
Okay, we put the link a couple
		
00:15:19 --> 00:15:20
			times.
		
00:15:21 --> 00:15:23
			All right, that's where the link
is. And that's where we'll have
		
00:15:23 --> 00:15:27
			the rest of our stream today. Now,
I think it's so important
		
00:15:28 --> 00:15:33
			to have a believers worldview when
it comes to wealth, okay?
		
00:15:36 --> 00:15:39
			To have a believers worldview,
when it comes to wealth, life is
		
00:15:39 --> 00:15:44
			good, life will be good. Alright,
provided that we are in obedience
		
00:15:44 --> 00:15:48
			of Allah and His messenger and in
much remembrance. That is a
		
00:15:48 --> 00:15:52
			guarantee. Fella, no he or no
higher than tayyiba, those who
		
00:15:52 --> 00:15:54
			believe and do good works.
		
00:15:55 --> 00:15:58
			And have a good opinion always of
Allah who maybe namah Tierra
		
00:15:58 --> 00:16:02
			Bacova Hadith and are always
speaking the good. And I do also
		
00:16:02 --> 00:16:06
			feel that there is some worth to
this because it does
		
00:16:07 --> 00:16:11
			prove in a sense, disobedience
leads to poverty.
		
00:16:12 --> 00:16:14
			And we are going so far off the
fitrah.
		
00:16:16 --> 00:16:21
			And I have a personal challenge to
myself, I'm not going to speak
		
00:16:21 --> 00:16:26
			about certain subjects that I used
to always usually speak on from
		
00:16:26 --> 00:16:27
			this goes on to next, I will see
if I can do it.
		
00:16:29 --> 00:16:33
			Right. It's just become insane.
It's become too much. It's their
		
00:16:33 --> 00:16:38
			interface all day, and all night.
And they're controlling what we're
		
00:16:38 --> 00:16:42
			talking about some. So I don't
like the feeling of being like
		
00:16:42 --> 00:16:44
			manipulating control like this. So
I'm not going to talk about it.
		
00:16:45 --> 00:16:50
			But that stuff. General
disobedience of Allah always leads
		
00:16:51 --> 00:16:54
			to poverty. Why is it lead to
poverty because disobedience of
		
00:16:54 --> 00:16:59
			Allah to Allah leads to lack of
discipline, it leads to your whims
		
00:16:59 --> 00:17:04
			taking over. Right, that's what it
leads to. And resulted that is
		
00:17:04 --> 00:17:04
			that.
		
00:17:07 --> 00:17:11
			It that trickles down into regular
life. Okay, it starts out with
		
00:17:11 --> 00:17:14
			your beliefs and your morals, but
then it trickles down into
		
00:17:14 --> 00:17:15
			everyday life.
		
00:17:20 --> 00:17:24
			Melody says, not a bad idea, a
basket of currencies, you know,
		
00:17:24 --> 00:17:29
			the concept of the basket of
goods. The best way to measure
		
00:17:29 --> 00:17:33
			like wealth, or to be stabilized
wealth is to get a basket of
		
00:17:33 --> 00:17:37
			diverse goods. If you ever get to
retirement, a retirement fund
		
00:17:37 --> 00:17:41
			what's what stocks are in their
retirement fund things from all
		
00:17:43 --> 00:17:47
			across the industries, you will
have stuff that is like tech, and
		
00:17:47 --> 00:17:51
			you have medical, and you have
agricultural, and you'll have like
		
00:17:53 --> 00:17:58
			maybe oil and gas companies, and
you'll have back end businesses
		
00:17:58 --> 00:18:02
			there are so many massive back in
businesses that
		
00:18:04 --> 00:18:08
			you'll never hear about, like, for
example, who's produces the steel
		
00:18:08 --> 00:18:13
			for buildings? Who there are,
there's stuff that's needed in the
		
00:18:13 --> 00:18:13
			steel.
		
00:18:15 --> 00:18:18
			Stuff that you when I when I
looked at some of these things
		
00:18:18 --> 00:18:21
			that I'm involved in, like What in
the world's companies this who
		
00:18:21 --> 00:18:25
			would even know this stuff exists?
The stuff that goes in the stuff
		
00:18:25 --> 00:18:31
			that makes that's like behind our
ceilings and our walls, okay, that
		
00:18:31 --> 00:18:35
			you'll you'll just never in your
life as a regular consumer ever
		
00:18:35 --> 00:18:39
			buy it. But it's a massive
business. And it's stable. Right?
		
00:18:39 --> 00:18:42
			Because there's not a lot of
competition, right?
		
00:18:43 --> 00:18:46
			There's not a lot of competition
in these in these industries that
		
00:18:46 --> 00:18:50
			are behind the scene industries.
So we when people look at stocks
		
00:18:50 --> 00:18:53
			they tend to look at, and when
they look at the production of a
		
00:18:53 --> 00:18:57
			country, they tend to look at what
consumers buy, like Apple, Google,
		
00:18:57 --> 00:19:01
			Samsung, well, there's so many
industries that are behind the
		
00:19:01 --> 00:19:05
			scenes that are business to
business, that that are also a
		
00:19:05 --> 00:19:06
			source of stability.
		
00:19:08 --> 00:19:12
			So that's the idea of a bundle of
goods. And let's say let's take
		
00:19:12 --> 00:19:16
			this as an example. Someone says
I'm going to lend you 50 grant or
		
00:19:16 --> 00:19:18
			two grands a decent chunk of
money, you're not going to get
		
00:19:18 --> 00:19:21
			your money back very soon. You may
get it back in 10 years. Let's say
		
00:19:21 --> 00:19:24
			the guy says I'll pay you back in
10 years you're doing me a big
		
00:19:24 --> 00:19:27
			favor. Well in 10 years 50 grand
is not worth
		
00:19:28 --> 00:19:31
			what it is now. So people are
upset about this and they said
		
00:19:31 --> 00:19:38
			this is why they want interest.
Okay, they want to to take
		
00:19:38 --> 00:19:42
			inflation into account when you
pay me back. Well we say that's a
		
00:19:42 --> 00:19:46
			debit. They said well how do I get
my fair amount of money by the
		
00:19:46 --> 00:19:50
			value of my money? How do I get
that back? We say that you pin the
		
00:19:50 --> 00:19:54
			loan to a bundle of goods. Okay,
so bundle of goods you mean
		
00:19:54 --> 00:19:59
			alright this much gold, this much
silver, this much grain this much
		
00:20:00 --> 00:20:06
			Ship gas, this much the value of
that weight or measure of those
		
00:20:06 --> 00:20:10
			commodities. See, yeah, who's got
it? All right, he says you got to
		
00:20:10 --> 00:20:16
			lend a basket of commodities. So
right now, this measure of
		
00:20:16 --> 00:20:22
			commodities is worth 50 50k. And
I'm not lending you 50k, I'm
		
00:20:22 --> 00:20:26
			lending you this value, this
amount of commodities of a diverse
		
00:20:26 --> 00:20:29
			range of commodities, then
		
00:20:31 --> 00:20:35
			we might we monitor that somehow,
you can create a little piece of
		
00:20:35 --> 00:20:40
			software that monitors the value
of these things. So if oil was to
		
00:20:40 --> 00:20:44
			go down, sugar would to go up. If
gold was to go down, Silver was to
		
00:20:44 --> 00:20:48
			go up, silver hardly moves, but
that's how it would work. Okay, so
		
00:20:48 --> 00:20:52
			that where it would things would
even out at the end. And in 10
		
00:20:52 --> 00:20:55
			years, you get pretty much the
same value.
		
00:20:59 --> 00:21:05
			Oh, no, almost. They want us at
315. Yeah, 315. Yeah. So you can
		
00:21:05 --> 00:21:09
			just delete those things that for?
Sorry, it wasn't clear.
		
00:21:13 --> 00:21:18
			Does that make sense? Does that
make sense? The basket of goods,
		
00:21:19 --> 00:21:23
			the bundle of goods? Does it make
sense to you? Right? It doesn't
		
00:21:23 --> 00:21:27
			make sense to you yet. All right.
So if I lend you 50k Right now,
		
00:21:27 --> 00:21:32
			and it's the year 2023. And you
say I'll pay you back in 20. By
		
00:21:32 --> 00:21:37
			2030 $50,000 is not worth the same
amount of money. It's not the same
		
00:21:37 --> 00:21:38
			value, sorry.
		
00:21:39 --> 00:21:43
			The value goes go down. So what I
can buy with 50k. Now I can't buy
		
00:21:43 --> 00:21:44
			a 50k in 2030.
		
00:21:48 --> 00:21:54
			No, 50k $50,000, right. So if I
could buy like two Honda's right
		
00:21:54 --> 00:22:00
			now, I can't buy two Honda's in
2030 to 50k, the value goes down.
		
00:22:01 --> 00:22:05
			Because it's because deflation,
the the devaluation of the
		
00:22:05 --> 00:22:10
			currencies, always. It's steady,
right? So how do I get my fair
		
00:22:10 --> 00:22:13
			share of value back? I get my
shear fair by saying listen,
		
00:22:13 --> 00:22:19
			forget this. We're going to do a
bundle of goods from diverse
		
00:22:19 --> 00:22:24
			facets industries of life, that if
one was to go up, the other was go
		
00:22:24 --> 00:22:25
			down, it'll even out.
		
00:22:26 --> 00:22:31
			You see? Yeah, so I'm not lending
you 50k I'm lending you this value
		
00:22:31 --> 00:22:35
			of these diverse commodities, like
things that are unrelated gold,
		
00:22:35 --> 00:22:37
			silver, sugar, oil,
		
00:22:38 --> 00:22:43
			things that are far across the
board. So that if we had a house
		
00:22:43 --> 00:22:47
			up if the market crashed for gold,
it wouldn't crash from sugar.
		
00:22:47 --> 00:22:49
			Right? You see what I'm saying?
		
00:22:51 --> 00:22:53
			You're following along? A
spectrum. Yeah. opposite spectrum.
		
00:22:53 --> 00:22:54
			diverse spectrum.
		
00:22:57 --> 00:23:00
			Yes, yes. A measure of these
commodities
		
00:23:02 --> 00:23:02
			buy.
		
00:23:08 --> 00:23:12
			I'm gonna give it to you and the
value of this in cash right now.
		
00:23:13 --> 00:23:19
			Right, but the what I'm loaning
you is this value, this chart that
		
00:23:19 --> 00:23:22
			we made or this table that we
made, okay, right now, it's valued
		
00:23:22 --> 00:23:24
			at 50k. So I'm gonna give you 50k.
		
00:23:25 --> 00:23:29
			In 2030, when you pay me back,
you're gonna pay me the dollar
		
00:23:29 --> 00:23:34
			amount that this list of stuff
equals, you see what I mean?
		
00:23:36 --> 00:23:41
			No, equivalent to the chart of the
bath bundle of goods, because that
		
00:23:41 --> 00:23:44
			way I get them that might share
value back. Does that make sense
		
00:23:44 --> 00:23:47
			to you? All right. Do we have to
go now?
		
00:23:48 --> 00:23:53
			Crazy, crazy, crazy crazy. What a
short stream. This has been. How
		
00:23:53 --> 00:23:57
			long has how many minutes we've
been on? This is a record. While
		
00:23:57 --> 00:23:59
			everyone let's go over to
		
00:24:01 --> 00:24:04
			I'm going to put the link again.
Let's go over to the U of T
		
00:24:05 --> 00:24:08
			chat actually ran out so you put
it up.
		
00:24:09 --> 00:24:14
			The link is pinned on the YouTube.
Thank you very much Subhanak hola
		
00:24:14 --> 00:24:17
			como Byham dekhna shadow Allah
Illa Illa and iStockphoto Kana to
		
00:24:17 --> 00:24:22
			Boyd eek. Well asked in Santa Fe
host Illa Allah Dena Manu, I'm in
		
00:24:22 --> 00:24:23
			Australia.
		
00:24:24 --> 00:24:29
			What Sobel Huck, what's it was so
the suburb was set on a camera
		
00:24:29 --> 00:24:29
			which Allah?
		
00:24:56 --> 00:24:57
			Job
		
00:25:08 --> 00:25:09
			Ooh
		
00:25:13 --> 00:25:13
			God