Valuetainment - November 08, 2021


Money Can't Cure Poverty - It Takes More Than Money To Create Wealth


Episode Stats


Length

5 minutes

Words per minute

214.07489

Word count

1,233

Sentence count

79

Harmful content

Misogyny

1

sentences flagged

Toxicity

12

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, I talk about why money is not the answer to world hunger, and why you have to do the work to solve the problem. I also talk about the best way to solve a problem is to do it internally.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
00:00:00.080 So listen, there's this misconception that money can cure poverty or hunger, but that is the furthest thing from the truth.
00:00:05.840 Everybody thinks if you give this person $450,000, they will never be poor again.
00:00:10.900 If you pay people back money, if you go out there and help everybody get a million dollars, they will live a better life.
00:00:16.240 If you give them UBI income, they're going to live a better life.
00:00:18.680 That is not true.
00:00:20.160 And here's why recently the executive director of the UN World Food Program tweeted out saying 2% of Elon Musk's net worth, which is around $6 billion because he was worth $300 billion at the time, can help solve world hunger.
00:00:35.940 So everybody's like, oh my gosh, he's so rich.
00:00:39.160 Why doesn't he take 2% of his money and $6 billion and make that happen?
00:00:42.940 Well, from that moment, some interesting things happened because Elon Musk responded and he said the following thing.
00:00:48.920 He said, look, if you can prove to me, okay, that $6 billion will solve world hunger, I will sell Tesla stock right now and do it.
00:00:57.640 But it must be open source accounting so the public sees precisely how the money is being spent.
00:01:03.860 Then, while this whole conversation is taking place, another person gets involved, a man named Dr. Eli David says 2% of Elon Musk is $6 billion.
00:01:11.580 In 2020, UN World Food Program, which is WFP, raised $8.4 billion.
00:01:17.400 How come it didn't solve world hunger?
00:01:20.560 So eventually, this executive director from UN responds and says, well, I wasn't really talking about world hunger.
00:01:26.360 We were really talking about geopolitics.
00:01:27.920 So now they're spinning and changing again because they know if you give $6 billion open source accounting, there's no way you can do with $6 billion.
00:01:34.260 It's always these methodical ideas that, oh my gosh, if we give money to the poor, everything's going to get fine.
00:01:39.860 Here's the problem I got with politicians and people who are in leadership positions.
00:01:43.820 Why are you trying to solve problems from the outside?
00:01:46.860 Like, you know when somebody is out of shape and you need to lose 50 pounds?
00:01:51.500 There's two options you got.
00:01:53.160 You can go get your stomach stapled for $10,000 so your stomach gets smaller and you don't want to eat that much, right?
00:01:59.220 But you still are not going to exercise.
00:02:01.320 You're still not healthy.
00:02:02.820 You still didn't solve the problem.
00:02:04.500 You may lose 50 pounds.
00:02:06.040 You're still not healthier because you're not exercising.
00:02:09.100 The right way to get in shape is to actually have to do the work.
00:02:13.160 I was at the gym this morning.
00:02:14.680 For an hour, I'm training with my guy.
00:02:16.440 I'm not going to lie to you.
00:02:17.620 For an hour, in my mind, you know how you play games and your mind plays tricks on you? 0.94
00:02:21.520 For one hour, I've hit this guy in the face.
00:02:24.400 I've thrown him against the mirror. 0.99
00:02:26.020 I've slapped him across the face. 0.93
00:02:27.520 I've thrown my water bottle at him. 1.00
00:02:28.960 I'm so angry at this guy because for an hour, he's kicking my ass. 1.00
00:02:34.520 I'm sweating. 1.00
00:02:35.220 I'm almost in tears like a little baby.
00:02:37.420 But at the end of it, I get in the car and I can't breathe.
00:02:41.140 Like, literally, I can't breathe.
00:02:42.420 I'm drinking all this other stuff.
00:02:44.300 30 minutes later, I'm like, I had such a great workout this morning.
00:02:47.180 You think I felt like working out with this guy?
00:02:48.560 Hell no.
00:02:49.360 So, solution.
00:02:50.580 Let's just pay this guy a little bit of money.
00:02:51.900 It's going to solve it.
00:02:52.480 No, it's not.
00:02:53.300 You have to work internally.
00:02:54.540 So, politicians, leaders, people at the top, I'm always confused.
00:02:58.580 When is the last time you heard a senator, a congressman, a mayor, a president talk about teaching people the basics about how money works?
00:03:07.840 When?
00:03:08.460 Tell me whose campaign was ever about the next four years.
00:03:12.300 We're going to make Americans be better savers by teaching them about how money works, by teaching them about making better investments, by recreating your identity, by getting you to read the right books.
00:03:21.620 Because, internal, this money game is not hard, by the way, you're talking to a guy here who went from being a kid of a father who was a cashier at a 99 cent store in Inglewood, and mother who was on welfare that ran out of money and went back to Iran, and I joined the army, because it was my only way out.
00:03:36.260 We had no clown money worked. 0.99
00:03:38.000 My parents never owned the stock, ever.
00:03:39.920 We've never owned the 401k.
00:03:41.460 We've never owned the life insurance policy.
00:03:43.860 When I told my dad I sold life insurance, when I told my mom I sold life insurance, you know what their response was?
00:03:49.220 Here's what their response was.
00:03:50.380 I said, I sell life insurance, what is that?
00:03:52.820 I said, so you pay $100, and God forbid if you die, your family gets $300,000. 1.00
00:03:57.140 He says, you believe that bullshit? 0.99
00:03:59.060 He says, you know, that's, I said, no, that's life insurance. 0.99
00:04:01.800 I said, you think someone's going to give your family $500,000 or $300,000, and you only pay them $100,000?
00:04:07.520 I said, yeah, because most people live longer, so it's a mathematical formula. 0.99
00:04:10.860 You're crazy. 0.83
00:04:11.820 My parents knew nothing about insurance annuities, 401k, stocks, bonds. 0.99
00:04:15.500 I knew nothing about this stuff.
00:04:16.720 I've never lived in houses.
00:04:17.840 It was an apartment complex, but I learned early on, if I work from here on how money works with my identity, then money will show up.
00:04:26.040 So, no, money is not going to cure poverty.
00:04:29.280 No, money is not going to cure world hunger.
00:04:31.880 Different way of thinking, supported by people that are willing to contribute their time and resources, can.
00:04:36.780 But if you just give money without recreating someone's mindset, without recreating the way somebody thinks, that poverty is not going away.
00:04:44.120 They're going to stay poor, and they're just going to rely more and more and more on you.
00:04:47.720 And the more free money you give them, matter of fact, it gets even worse over time, the more free money you give to people.
00:04:53.060 So, you know, if you're listening to this, and this kind of got you thinking, maybe ask the local people that you work with in politics.
00:04:59.400 Ask your local congressman, your local mayor, your local senator, ask your governor, ask the president.
00:05:04.700 When's the last time we taught people about how money works?
00:05:06.500 Why not?
00:05:07.440 Why don't we have somebody campaign around educating that community about how money works?
00:05:12.760 Maybe I'm crazy, but I don't think I am.
00:05:15.440 If you agree with me, give it a thumbs up, subscribe to the channel, and share the hell out of this video so we can get people asking the right questions from our politicians.
00:05:22.780 And if you enjoyed this video, and I did a video years ago talking about how to recreate your mindset, I got two videos I want you to watch.
00:05:31.220 One of them is 10 ways how to recreate your mindset, and the other one is 20 rules of money.
00:05:35.160 If you've never watched 20 rules of money, go watch the video 20 rules of money and get a better idea about how money works, especially how I think about money.
00:05:42.280 Having said that, have a wonderful week, everybody.
00:05:44.820 Take care.
00:05:45.340 Bye-bye.