National debt of Japan

...

but, but, but, but, but Steve, as we know, those who've tried to short the JGBs, actually it's been a great trade now, but for years they called it the widow maker trade.

Like, if you were any self-respecting hedge fund manager and you hadn't lost money trying to short JGBs, like, that's a sign of, you know.

[laughs]

Okay, right.

Um, money's yielding you nothing.

Uh, you put your money in the bank, it's half a percent.

JGBs are sub 1%.

But the younger you are, the final answer to the question, the younger you are, the higher the percentage.

If you're- The higher the percentage, because I mean, you're talking about- Oh my God, Rand, if you're under 35, right? I believe it should literally be against the law for you to own bonds.

like you don't need them because your income covers your expenses.

You have 60 plus years to accumulate wealth.

And it's because gold, there are a couple of things that are at play here.

One is the gold cycle, which leads the Bitcoin cycle, and I'll explain.

And then the other is the Japan cycle, which leads the US, and I'll come back to that on bonds.

So gold, remember, gold had the commoditization happen first.