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| Name | Explained: What Is Sound Money? |
| Video Uploader | Video From The Investor's Podcast Network |
| Upload Date | This Video Uploaded At 24-02-2021 13:42:22 |
| Video Discription | On today’s show, Robert Breedlove talks about how what sound money is. This is a great discussion for anyone skeptical of Bitcoin to listen to. Preston Pysh So Robert, the thing that I want to just get into here at the start is really the essence of what we’re talking about. And when we talk about the essence, we’ve got to cover the topic of what is money? Because I don’t think we can talk about any of this other stuff, unless we first address that and come to a common terminology, maybe a common understanding, maybe even let’s challenge our given assumptions. So I’m curious your thoughts on that. Robert Breedlove That’s a great place to start actually. It’s commonly believed today that money is in government creation. Money actually, it’s an emerging phenomenon in any trading society or any marketplace. And you can think about it quite simply as just the most treatable thing. It’s literally the most liquid asset in an economy is by definition money. And so the simple example here would be like even cigarettes in prisons. These little micro economies that become the most treatable thing that becomes money. Robert Breedlove So what we can say about money historically, and by the way, this question, I love that you asked this question first because I think this is where people hit a stumbling block. Because they think money is issued by the government, things like Bitcoin are not issued by the government. So clearly, the never going to allow it, it’s not going to work. So I think this question actually, by asking it to yourself repeatedly and consistently you go down the rabbit hole. Why would people describe as a Bitcoin rabbit hole. And you start to question the fundamental nature of a lot of the socio-economic structures that hold us together. So I think it’s a very important question for people to ask themselves. And from a first principle standpoint, what we know about money is that it’s selected in the marketplace based on five critical properties. And a lot of people argue about these properties say there’s anywhere from five to 15. Robert Breedlove I’ve narrowed it down to five and I think each of these have a relevant subsets. So the first money has to be divisible, durable, recognizable, portable, and scarce. These are the properties that people, market participants naturally select for and money. So the visibility simply means that a money can transact at varying scales. Meaning that you can subdivide and recombine the monetary medium at various scales. This is why we have coinage and things like that bills we’ve used historically. Durability means that the money will persist over time. So you know that it won’t rot. So for instance, fruit would be a pretty terrible form of money. It’s not durable over time. Whereas, something like a monetary metal like gold is. It’s highly durable over time, it’s noncorrosive. You know, you can park a value in it and expect it to remain physically constant over time. Portability means you can move the money easily across space. Subscribe to We Study Billionaires podcast show: https://link.chtbl.com/WSB To access our show notes, courses or forums, go to theinvestorspodcast.com. ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ADDITIONAL INVESTING RESOURCES: Ask the Investors: https://www.youtube.com/playlist?list=PL_xlkwLDH1F8msJn1pD3z95KuFLQWPuf- Asset Allocation Course: https://www.youtube.com/playlist?list=PL_xlkwLDH1F9coxc1aExB8xbw9daFDF6P Real Estate Investing: https://www.youtube.com/playlist?list=PL_xlkwLDH1F_p00VYv3psJ8rhDAGOvR5W Millennial Investing: https://www.youtube.com/playlist?list=PL_xlkwLDH1F-NVcnR47rMkT0ByTWQBvBf ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ Download Stig & Preston's 1-page checklist for finding great stock picks: https://www.theinvestorspodcast.com/form-youtube-checklist/ Have a question? Get your voice heard on the show: https://www.theinvestorspodcast.com/your-questions/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. |
| Category | Education |
| Tags | sound money | Bitcoin | government | inflation | monetary metals | gold | diamonds | highest stock to flow ratio | gold-backed currencies | market | entralization of gold custody | central bank | monopolized | scarcity | Nixon shock | Bretton Woods system | U S dollar | gold reserves | Fiat currency | cryptocurrency |
