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22min chapter
MI Rewind: What is Money? w/ Jim Crider
Millennial Investing - The Investor’s Podcast Network
History of Money, Transition from Gold Standard, and Implications on Inflation and Asset Ownership
The chapter explores the transition of US money from being backed by gold to fiat currencies, discussing pivotal events like the Bretton Woods Agreement and the Nixon shock. It analyzes the implications of money printing, inflation, and asset ownership, emphasizing the importance of understanding the true nature of money to avoid exploitation. The chapter also delves into diversification in portfolios, debunking myths about gold and Bitcoin's value, and highlighting the impact of irrational investment behavior on wealth accumulation.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode