Episode-2833- Really Understanding Money — 7 Comments

  1. I was reading an article about bitcoin and saw this funny music video in the comments. The singer is from Ukraine so I thought Jack would find it as amusing as I did. – It’s kind of a techno-opera thing. it’s the subtitles that make it funny. The actual English translation is not funny, but very lovely poetry.

  2. Jack is right about universities not teaching the concepts presented in today’s TSP about money creation, etc. My undergrad is in business (finance major) and I have an MBA and I can tell you that the first time that heard about these concepts (e.g. money creation, debt slavery, Fed manipulation, etc.) was here on TSP – not from any of my profs during those years. Thanks Jack.

  3. Jack-
    Another great topic and very relevant to the problems we face! I have a degree in finance and have lived most of my life after Nixon took us off of the last vestiges of the gold standard in 1971 (I was 9 at the time). I grew up in a conservative home, but did not really begin to learn until I heard Walter Williams on the Rush Limbaugh show in the early 90s, which eventually led me to find the Mises Institute, and Austrian branch of economics. Later on I also, found the best analyst on commodities, Josh Crumb, who has an amazing first principals and systems understanding of gold (and money in general). So few people understand the difference between money and currency, and why fiat currencies are doomed to eventually fail.

  4. The idea of the Strike app is very interesting. There is a hurdle the team needs to resolve; that if you want to upgrade your limits it requires providing your social security number. From a security angle that is a NO NO. Give me a SS#, current address I can scarf a PH# and have 5 credit cards in that person’s name in no time flat. Strike needs to work on that item.

    • This is a regulatory requirement and NO DIFFERENT than a bank, paypal, etc.

  5. 21:28 “Gold does not have the intrinsic value that we claim it does”

    Is the entire infrastructure of the Information Age a small thing? I don’t think so.

    • One is not necessary for the other. We could have chosen Osmium as our reserve metal and it would still be as it is today.