
The nature of money
The David McWilliams Podcast
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What's the Essence of Money?
I feel there's just a profound misunderstanding about the monetary world. I keep saying I can think of no more than five people who truly understand and comprehend money. None of these people are engaged and working at either investment banks, earning lots of money or at central banks. They always win, but none of them get money. So money for me is this invisible force, which just through great fortune and the grace of others, I've never had to actually think about how much money I have. We know the absence of money and we know something's going wrong when it begins to impact on us.
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