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WiM026 - Money Hierarchies with Nik Bhatia
The "What is Money?" Show
Gold Is Money, Everything Else Is Credit
J p. Morgan's quote that gold is money, everything else is credit has huge implications for understanding the history of money. And then that becomes the blue print for the federal reserve system, effectively. That's what he's trying to say. If you don't care about anything other than the pacific ocean and surfing life, the malaboo mansion is all that you want. But no one can take that away from you given your property rights in the state of california.
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