[00:00] And obviously we wouldn't want to be owning anything that we thought was in a currency that was really going to hell. And that's the big thing we worry about with the United States currency. I mean, the tendency of a government to want to debase its currency over time, there's no system that beats that.
[00:21] You can pick dictators, you can pick representatives, you can do anything. but the people there will be a a push toward weaker currencies and of course that is i mentioned very briefly in the annual report that the fiscal policy is what scares me in the united states
[00:38] because it's it's made the way it is and uh and uh all the motivations are doing a lot of things will cause can cause trouble with with money but that's not limited to the united states
[00:53] it's all over the world and some places it gets out of control regularly as i know they know you know they devalue at rates that are breathtaking and that's can that's continued i mean and you
[01:07] people can study economics and you can have all kinds of arrangements but in the end if you've got people that control the currency you can issue paper money and you will or you can engage
[01:19] and clipping currencies like they used to centuries ago. There will always be people. It's the nature of their job. I'm not saying that we get them out as particularly evil or anything like that.
[01:33] The natural course of government is to make the currency worth less over time, and that's got important consequences. And it's very hard to build checks and balances into the system to keep that from happening.