about intelligence, it's about courage. And it's the courage to do the following things. If we're going to inflate away our debts, which as we discussed is probably the only political way that isn't incredibly dangerous, don't own bonds full stop. There are some wonderful charts. I'm looking at another book in my library here, which is the History of Interest Rates. And we can look at those all the way back to Genoa for, if you like, bond yields. And they tend to go in 30 to 40 year bear markets and bull markets. And ours began in 2020, 2021. So don't own bonds and you'll be tempted along the way to trade them and own them. And if you're a very smart trader, maybe you should do that. But if you're not a professional trader, you should not try to trade bonds and therefore you shouldn't own them. You see that alone is radical. It's radical. I mean, it's a radical, radical statement. And without mentioning any names, I go to see professional investors who run multi-asset portfolios and (80/99)
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