Rob Moore on Banks, Debt & How You’re Being Played

0:00The country's fucked.

0:01Rob Moore:The UK is fucked. If you have a small amount of savings and you spend money on food and things to live on and that's all you have with your money, inflation is making you poorer and poorer and poorer every year. People are leaving the UK. They're leaving through gritted teeth. They spent 600 grand on a photographer for Kia Starmer. 532 grand on a fucking logo rebrand where they changed the colour of the dot and they moved it up. What the fuck are we doing? Gary Stevenson is plain wrong. I think he's a puppet. Obviously, it's expensive because what, we're spending five and a half million a day on asylum seekers and the hotels and their Playstations and their bikes.

0:44Rob Moore:Get to the fucking gym. Go and have a long walk. Get in an ice bath, for fuck's sake. You cannot be depressed in an ice bath. Nigel Farage gets in at the next election and he says, we can save the economy. We just stop immigration. You know, I had a nice little Andrew Tate Bonnie Blue sandwich three-way, didn't I? Recently, and I'll say this and I'd say it to her, I don't believe she slept with a thousand men. So what's stopping you from leaving to Dubai then?

1:16Before we get started with the episode, our books are now open. If you need help getting in front of the right people, finding your dream customers or winning new business, we might be able to help. Why not outsource your sales to We Have A Meeting? Just go to wehaveameeting.com. Rob Moore, welcome back. It's good to be back. It's good to have you back.

1:37Rob Moore:Yeah, we were reminiscing. We were. And you remembered. Yeah. You did remember. Other people haven't remembered us before. I passed the test. You passed the test. I passed the ex-girlfriend test. You just did. So we always start with the same question, and we're going to ask it again. Who are you, and what problem do you solve? I'm an entrepreneur, and I help as many people on the planet it get better financial knowledge nice so we're going to center this conversation around financial knowledge and i want to start maybe at grassroots level so me and zach we both have young children we've got boys okay so that might tailor the conversation see where you take it what do you think the parent should be doing at a young age to instill money lessons well let me put it this way my daughter who is 11 came back home from school and she was all excited because she said Daddy, I've just had my first money lesson at school.

2:28Rob Moore:Because, you know, she knows I do the money thing. And so I sat her down and I said to her, you know, this is my wheelhouse. So tell me what you learned. And she said, well, the teacher said that and what you do is you save money in the bank. And if you put£30 in the bank, then in three or six months you get£33 back. And I couldn't have been more angry. Like that's her first lesson on money. And basically, she's been told that you should save money in the bank. And by the way, if you look at history, inflation is higher than the interest the banks give you. Now, do not confuse this with average interest rates versus average inflation.

3:18Rob Moore:They may track at the same or similar. It depends. and you know we had a decade of not much over 0 % interest didn't we and we had 10 % inflation in 2020 or 2021 so in recent decade you are losing five or even up to 10 % of your money saving it in the banks but of course the banks don't want you to know this why would they but the banks are very clever at getting you at a very young age so how old are you guys 33 okay so do you remember of getting your first bank account yeah maybe you were what four five six i'd be national okay anymore how old were you yeah about about six yeah and did you get a nice little folder did you get some things given to you as a gift well the reason that they did that is because they want to capture you in for the rest of your life because they want you um in debt paying interest the government want you to pay as much tax as you can it's their business model and you know i used I used to get really pissed off about it and I used to rant about it and say how nefarious and corrupt it was.

4:27Rob Moore:But it's just the world. You know, we, the people, are the product of the banks. The banks make money from we, the people. So we are there to be consumed by them. And I could go off on lots of tangents here, but I'll come back to your initial question. So the first thing our children are being taught in school is one that saving money makes money. It does not. Saving money loses money. Savers are losers. Inflation is higher than interest, especially as the banks don't pass on all the interest. Do this next exercise. The next time interest rates change, look at your savings and your borrowings.

5:11Rob Moore:And what they do is they whack up your borrowings immediately and they do not whack up your savings anywhere near as quickly or as much. And they put a margin on top of the interest rate when you're borrowing money. The next thing is save 30 and in three to six months you get 33 back. That's 10 % in three to six months. That's also known as get rich quick. Like I'll buy that course. And like, I don't know who her teacher is. I felt like I wanted to go and find out, going bang on the school window. But no, my kids have to deal with their own problems. I'm not the intervening dad. She's got to go and deal with this herself, like the bully.

5:55Rob Moore:You know, you face the bully. But I wouldn't be surprised if that teacher's earning 37 grand. The average lecturer at college and university earns 37 grand. So assuming that business and economics and finance and money, they get the same salary as everyone else, then people are teaching us about money and business and economics who are barely above minimum wage so the whole system is wrong from the inside out so fundamental number one you need to teach your children is that saving money in the banks makes the banks money and not you so you have to be the custodian you have to save your own money but then how do you stop it going down in value then so therefore you've got to teach them about inflation and what inflation is which most adults don't understand.

6:41Rob Moore:I've got this formula for riches. I plus X times L times C. It's actually in my new book, which isn't written yet. So global, world exclusive first on your show for my formula. Inflation, I plus X is inflation plus X. If you save your money, it is going down with inflation. Therefore, you are losing money, saving money. So rule number one of making money and managing money well is you have to beat inflation. And I don't know what real inflation is, but let's say we're getting told inflation is four. Well, you look at everything you're buying. Has it gone up four percent? I mean, I wouldn't be surprised if everyone's feeling like things are going up 10 percent a year.

7:37Rob Moore:So really, you've got to be at 5%, 8%, 10 % return per year in savings just to match inflation. Now, this is a bit more advanced, but inflation isn't bad. It just depends who you are. If you're a saver and a spender, which is most of the population, inflation makes you broke. because inflation erodes your savings and it increases the prices on the goods that you buy. But if you're an entrepreneur and you're an investor, inflation, because it pushes prices up, also pushes the prices of your assets up. Has anyone seen the price of gold and silver recently? I mean, it's gone up wildly. But also, and most people don't know this, if you've got mortgages on assets, your assets are being pushed up by inflation but your mortgages are being eroded by inflation because the value of everything goes down with inflation including your mortgages i got stopped on the street in london um and a guy who's got like quite a big show you know where he sticks a microphone in front of your face he said why are the rich getting richer and the poor getting poorer and it got millions of views my answer and everyone expects taxation governments you know greedy, evil bastard billionaires.

8:55Rob Moore:It's simply inflation and which end of the inflation spectrum you're on. If you have a small amount of savings and you spend money on food and things to live on and that's all you have with your money, inflation is making you poorer and poorer and poorer every year. If you're an investor and you protect your money from inflation, you put it into assets. Inflation makes you rich. So you said we might talk about Rachel Reeves later. I just want to I say on record, thank you, Rachel Reeves. Thank you for making me richer. Thank you for fucking up the country and whacking up the inflation. And she wasn't the only one that's done it.

9:30Rob Moore:So, you know, I should probably give her some credit because I'll probably go at her later on. Thanks. We'll put your Instagram handle in the comments. So you touched on it there, right? There's a couple of different narratives in the country at the moment. One is the Gary's economics narrative of billionaires have taken all the wealth and it's a bitter road to the end. The other narrative is probably more the reform narrative of it's actually uncontrolled immigration that's leading to money problems. It sounds like you believe either, but I could be wrong. Let me ask you this. All of the tax revenue, you know, all of the revenue generated that is in the economy, which is about 1.2 trillion, who controls and manages it all?

10:14Rob Moore:Banks. Maybe, yeah. Government. Yeah. The Treasury, the government, the governments and the banks are probably in some kind of cohort. You know, the Bank of England is supposed to be kind of separated from the government. But Liz Truss will tell you a story of basically the banks controlled government because she got forced out. So I don't believe that they're separate. I think they're just one big blob of control. But, you know, Gary's economics can rant about taxing the rich and taxing the billionaires. but it's not the rich or the billionaires that control the money in our economy. It is our government.

10:49Rob Moore:It is our treasury. It is our chancellor. So you can't blame anyone but the government. How can you blame anyone else but the government? How can you blame a billionaire for employing 10 ,000 people? How can you blame a billionaire for the billions in VAT that they generate, the hundreds of millions in national insurance or billions in national insurance? Now, here's the thing. People don't understand. They get fucked off. And maybe they're right about this, actually. It does feel wrong that Amazon can generate billions in the UK and then not pay corporation tax in the UK because they go and find some workaround in Ireland.

11:29Rob Moore:That does feel a bit wrong, but they still there's still the VAT charged. There's still all the national insurance on the employers and the employees. So there's loads of taxes that a big company or billionaires would generate. It's mainly just corporation tax that they're avoiding by going somewhere else and then income tax are avoiding. But I wouldn't blame a billionaire who owns a massive company, who's responsible to all these shareholders, who can get fired by his own board if he doesn't produce a good quarter or a good year of accounts. I don't blame him for looking for a cheaper place to run your company.

12:08Rob Moore:It's not Ireland's fault or the billionaire's fault if they go and haven their companies in Ireland. It's this country's fault for not producing enough of a competitive environment. You know, if you play in a football team and the team's not managed very well and the team gets shit and the players leave for another club whose fault it is, it's not the fault of the other club. It's the fault of you not managing them well enough. So I don't think the UK have anywhere near enough incentives, rewards, gratitude, culture for rich and successful people. I don't blame a billionaire for trying to get their corporation tax down when it's so big.

12:49Rob Moore:when Donald Trump got into power the first time, he called in all these massive billionaires who owned Amazon and Facebook and whatever else. And he sat them down and went, right, let's do a deal. And if I was running the country, the first thing I'd do is I'd, because I'd get their number, but you know, James Dyson who left, the Livingston brothers have recently left to about in the top 12 richest people in the UK. Lakshmi Mittal, who's been one of the biggest entrepreneurs, the richest entrepreneur in this country has just left. and then anyone who left in the last 20 or 30 years i'd be calling them all up saying look i want you back what do i need to do can we come and have a meeting and come in and listen to them and find out why they left the uk because what i'm finding i don't know if you're finding this but lots of people are leaving the uk millionaire friends of mine every week are leaving the uk but they still love the place and they're leaving through gritted teeth and dubai is not perfect for them and they know the downsides but they're being forced out they're not leaving because this place is shit they're leaving because this place is becoming worse and worse so yeah it's a whole mess so I don't know if I should say this but like there's something doesn't add up with Gary Stevenson to me something does not add up I can't work out if he's some kind of socialist stooge.

14:13Rob Moore:His story doesn't add up if you research it. By the way, I had him agreed to be on my show three times and they like shifted it around and shifted it around and shifted it around. I'll have him on my show and I'll listen to him because, you know, I like to learn from everyone. But something does not add up. And here's the thing. The rich aren't leaving the UK because they're not paying any tax. The rich are leaving the UK because they're paying too much tax. Otherwise, they'd stay in the UK because it costs a load of money. You have to leave your family. You can't come back here for many days of the year.

14:45Rob Moore:It's a horrendous nightmare to leave. So this rhetoric of tax the rich is wrong. The rhetoric should be manage the one point two trillion better. You guys run a company. If I had a gun to your head and said, right, in the next week, you've got to shave off 20 percent of your costs. you could do it you could find 20 wastage in your company any company could find 20 wastage so why can't we find 20 wastage in the government they spent 600 grand on a photographer for kia starmer 60 70 grand for a photographer for angela rayner 532 grand on a fucking logo rebrand where they changed the color of the dot and they moved it up my content went viral when i ranted about that they love that on linkedin what the fuck are we doing we're sending hundreds of billions abroad so yeah um gary stevenson is plain wrong and i i want to know what is i want to i want to know who's behind him i think i think someone's got their hand up his ass i think he's a puppet i don't know for sure so hope he doesn't sue me but come on my show so the and then the other Interestance of the Nigel Farage gets in at the next election and he says we can save the economy.

16:05We just stop immigration. What do you think about that?

16:08Rob Moore:Well, I don't think I think you've slightly oversimplified it there. I don't think they're saying we stop in immigration and we save the economy. So, you know, for full disclosure, I'm friends with Nigel Farage. And for full disclosure, if the vote was tomorrow, I would vote reform. There's a long way to go. And a lot of things could happen. reform just seemed like what you'd expect a conservative party to be. That's just what they seem like. And, you know, the conservatives became sort of quite left of centre with a lot of their policies. And you've seen a lot of defection from the conservatives to reform.

16:46Rob Moore:I haven't really spoken about immigration. And, of course, if you speak about immigration and you have a firm stance, immediately you're branded a racist or a fascist or a Nazi or whatever, you know, which is ridiculous. And what we've got to be able to do is we've got to be able to converse about this properly. So, you know, I think it's good that we accept refugees into this country because, you know, some of the most successful people that this country has ever seen are second and third generation immigrants. So it's smart for a country to bring in refugees, you know, who've got some hustle and have got some desire.

17:26Rob Moore:and you know there's so many people who are the second and third generation well mostly i think second but second and third generation now british whose parents fled a war-torn nation and made something of their lives and have really contributed to the economy and you know london is still a fucking great place oh i don't wear my expensive watches here and you know you have to be a bit more careful but it's just so cosmopolitan it's so varied it's like in many parts of london there's a different city within london london's its own country and you know look at arnold schwarzenegger in america he's an immigrant look at gary vaynerchuk in america he's an immigrant these guys have that drive which often some of the the indigenous people who are just given benefits It's because they said, oh, I'm feeling depressed, you know.

18:18Rob Moore:So I'm not I'm not probably a hard one in one out immigration believer. I'm a believer that you need you want some compassionate refuge, but you need to keep it to a minimum. Then you want to allow immigration for people who are going to add value to this country and you want to support that. And, yeah, you can't just let anyone and everyone in. But, you know, immigration is just a small part of the economy. Obviously, it's expensive because what are we spending five and a half million a day on, you know, asylum seekers and the hotels and their Playstations and their bikes and, you know, everything else we're buying for them and all of that.

18:59Rob Moore:And that's obviously really expensive. But actually, internal welfare, forget immigration, internal welfare. I think the welfare budget now is like nearly 300 billion is crazy. And of course, that includes a lot of things, not just, you know, people on benefits. But, you know, the benefits criteria are far too easy to get in. All you have to do is say, you know, I've got mental health issues. I'm feeling depressed. I've got suicidal thoughts. You get signed off forever. You know, get to the fucking gym. Go and have a long walk. Get in an ice bath, for fuck's sake. You cannot be depressed in an ice bath.

19:37Rob Moore:I mean, look at your nuts and you will be. But you cannot be depressed in an ice bath. It's absolutely impossible. And do you know one of the best ways to get rid of your depression? Go on. Do a good fucking day's work. Like, go and do a good fucking day's work and then sit down afterwards and think, fucking hell, that was hard. But, you know, I did something valuable today. That is the best way to get rid of depression. I'm not saying there aren't people that need benefits and welfare. Of course they are. And I spend millions, well, I'm forced to, but I spend millions in tax every year. So I'm doing my bit to help these people.

20:18Rob Moore:And so, you know, what we need to do to grow the economy is we need a chancellor who's an economist stroke entrepreneur. So I've interviewed two ex-chancellors and I interviewed one of them recently and he's like pretty good, smart guy. We got on well. But he said, I'm not an economist. And I went, what? Wait a minute. You were the chancellor of the UK. You're not an economist. Oh, no, no, no, no, no. I think it's good that I wasn't an economist, you know, being a chancellor of the UK. I can have a more broad view. if your doctor isn't a doctor if your surgeon isn't a surgeon he's got the knife i'm not a surgeon though but let's have a fucking slash and see what happens what so number one we need someone running the fucking money in the country who knows how to run money billionaires know how to run money so instead of like letting get gary's economics ran off and make an enemy of them why don't we bring them all together why don't we find out what they would do if they ran the economy because essentially what the uk economy is is it is an it's a an insolvent company that's fucking pissing it down isn't it i don't know if the mics will pick that up but that's why everyone's leaving the uk bit of asmr in there right yeah soothing yeah yeah because my voice isn't um so we need someone running the country, certainly the finances of the country, knows how to run money, knows how to, who is entrepreneurial, we definitely need to do that.

21:54Rob Moore:We need to start cutting costs. We need to start reducing taxes. We need to start giving incentives for people who run companies and do things that grow the economy. We need to stop having these glass ceilings of you know you earn a hundred grand and you get taxed let's say 42 percent all in and and you get taxed even more all the way up to 150 grand and it's only once you get above that do you then start to make any more money so people aren't people are stopping at 99 grand and they don't want pay rises what are these twisted reverse incentives we are entering a new era of outbound four years in we have a meeting has leveled up our entire offer that's why multi billion pound brands trust us and we put meetings with netflix spotify facebook even barcelona football club we've helped close deals up to 950 000 we're doing it all phone linkedin email direct mail, and there's a few weird and wonderful possibilities that we're keeping in our back pocket.

23:07So if you're struggling to get in front of the right people at the right time, inquire today.

23:15Rob Moore:I mean, that's just a start. There's lots of things we need to do. I do think, you know, we need to stop making theft legal. You know, theft is legal. Under£200, it's not a crime. No way. No, it's not. Do your research. Like, they do not report theft under£200. So why work for a living and earn£12.55 minimum wage and slave when you can nick£199.99 every day? Well, why bother fucking working? You know, I go and walk on the streets of Peterborough. I mean, it's fucking dangerous, but, you know, I go and do that and I ask people who are on the streets, why don't you go back to work? And, of course, I get loads of hate for that, but...

23:58Rob Moore:Well, what's the point? So I can get 200 quid a day begging. They pay for one of my houses. And if I go and get a job, I earn less as a job than I get on benefits. What's the point? That's what they and they all say the same thing. So they get given a house. They earn 150 to 200 a day begging. Are they going down to the bank every day and declaring that on their tax return? Are they fuck? the the like the country's fucked the uk is fucked so we think about building what do you think by the way i mean like because like maybe i'm in my own echo chamber you know my posts go viral when i talk about this do you think the uk's fucked i don't i don't have i mean interesting i don't have i don't have like a big uh network of people that i see it all the time on linkedin people are leaving people are leaving i don't think i know anyone that's left or is leaving and maybe that's just the company i keep or the friends that i have but like i see this phrase thrown around people are leaving people are leaving but i go but who there are a few people that i know that are out in in dubai and entrepreneurs and we've had some on the podcast but i think they they've been there for quite a few years and they they fall into that lavish lifestyle anyway well i'll just jump in on that point but i'd love to hear your thoughts so um one of my business partners who's 25 last year left for dubai and his kind of his friend stroke business partner that also worked for me left with him and they went to leave for dubai together and got a place together i have about 100 staff and all the young lads obviously all get to know each other so they're all in their whatsapp groups and whatever else fuck it it's it's great in Dubai yeah so I saw a photo on their Instagram stories and those two guys and one guy that used to work for me and one guy that currently works for me are out in Dubai two of my young sales lads top two best two have just said we want to go to Dubai for six months January to June you know can we still you know sell on the phone but we want to go to Dubai and of course I'm not going to stop them and if I was 24 and single and didn't have family here or kids you know would i may i do the same yes i'm seeing this a lot i i mean yeah so what's stopping you from leaving to dubai then okay so number one is i have um ginger roots so basically i would fucking die all like all i need is about 10 minutes in the sun in august and i'd actually die so like the climate number is the climate is a small part my parents my dad's 81 my mum's 70 and the last thing I'm going to do is go to Dubai and get a phone call so my parents my kids are in private school actually just talked to my wife yesterday about you know should we consider homeschooling them it's just like even though the you know the schools here definitely are getting worse I think it would be really hard to homeschool them you'd lose the social element but she would have said no way to homeschooling 18 months ago and like we just agree we talk about every six months and she seems to get closer and closer but you know I don't like my kids are 11 and 14 I think it's a bit much to to rip them out and the next thing is I've got 348 rental units in Peterborough city centre so I've got 100 odd staff in the three office buildings that we own there there are still some good tax breaks for entrepreneurs so even though all the tax that everyone seems to have to pay i quote and i do proper research on it um you know there are tax breaks capital allowances entrepreneurs relief research and development ip that you got to look into this probably and get a good accountant but you know that like so there's still some of those left.

28:03Rob Moore:So they're the reasons why I haven't left yet. But I need to talk to my business partners about this. But in my own mind, I'm pretty much decided I'm going to set up an office out in Dubai, even if it's just a small one to start with, or even if it's just a hub where some of my guys can work out there. Because I think it's really important because, you know, the budget is coming up, they probably need another 30 or 40 billion. You hear they're going to cut VAT on energy. So where are they going to get that back from so they're the reasons i haven't left but you know if they impose a wealth tax or an exit tax or they talk about that that could be the the last straw so when we think about like the next generation because it's it's it's down to like your children now and it's going to be our children to kind of build this back up i think about 16 17 18 year olds they don't have any money so they can't make money from money they don't have any experience because all they have is their schooling, education, they've never done any kind of work.

29:01And then when you think about skills, they're like, well, do they have the skills to then go out there? Where do you think that they should, the next generation, where do you think they should be attacking or thinking about it when it comes to making money? If they have no previous experience, they don't have money, how do they even start?

29:20Rob Moore:I think they should go one of two ways. And up until about two years ago, I would have only said one way. So the first thing is kids can now earn more than their college professors very quickly. So probably the road I wouldn't go down is conventional education and get good grades at school and go to university. I'd either social media content AI or good manual labor like roofing, scaffolding, bricklaying, etc. And I wouldn't have said that two years ago, but we have a massive trade shortage in the UK. Some big AI gurus are predicting that millionaires are going to come from bricklaying, roofing, scaffolding.

30:09Rob Moore:The government say we need to build one and a half million homes. So we're going to need these new tradespeople coming through. You know, I think masculinity has had an attack over the last sort of decade or more. But I think, you know, every building we're sat in was built by probably 95 % males. All the roads probably built by 95 % males. So if you're not really into the internet and social media and content and tech and that, but, you know, you're good physically or you're good with your hands, you know, or you're sort of somewhat creative, I would get into these labour jobs. And by the way, because what you can do is you get on the tools.

30:58Rob Moore:And then once you've been on the tools for 10 years, you come off the tools and run the business, run the companies. And I think that's a huge opportunity. And a few people are talking about that for those types of people. You know, the non-academics. But for the people, I mean, you know, 16 year olds, you're talking like they have a disadvantage. But, you know, my daughter could get into an iPad or an iPhone by age two. You know, they know what to do with their finger age two. So, you know, I'm a bit older than you guys, but you don't remember dial-up? Do you remember dial-up? I remember dial-up, yeah.

31:28Rob Moore:Oh, fucking dial-up. Like, people think they know stress and depression and mental health issues. You wait until you try and load on dial-up. Like, so, you know, I couldn't really use the internet very well because it was all so new. But now kids are on it all day, every day. So instead of consuming all the content that these kids are consuming, think about oh I could create content like that you know I'm I'm probably getting 120 130 million views a month on social media at the moment and I'm not techie and yeah I don't really know how to use AI and social media like a lot of 15 or 16 year olds do so that they are the two things I would do yeah since we interviewed you last time the question we get asked the most about you is what's he like?

32:17What's he like? And we've probably ruined your persona because we always say he's a really lovely bloke. They all think I'm going to see you next Tuesday, do they? Well, there's a thing that happens. Tell me what they think. This will be fun. I don't know if I'm popping the balloon here, but there's a thing that happens where you're very polite off air, shake everyone's hand, you're a very lovely bloke. Thank you. And then on air, I remember last time we interviewed you, you were like, right, we've only got a certain amount of time, I'm going to give you the bit. And then we were fucking shocked.