The "What is Money?" Show
Money, Velocity, and Bitcoin’s Impact with George Gammon (WIM457)
Apr 11, 2024
Financial expert George Gammon discusses money, velocity, and Bitcoin's impact. Topics include quantitative easing's influence on money supply, Federal Reserve's crisis management, functions and properties of money, critiques on Federal Reserve's control, future of money with Bitcoin and CBDCs, potential outcomes of a dollar crash, complexities of the global monetary system, and implications of banking systems on the economy.
02:07:53
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Quick takeaways
- Counterparty risk in fiat currency challenges debt settlement.
- Government spending fuels inflation more than Federal Reserve actions.
Deep dives
Defining Money in a Fiat Currency World
In the realm of central bank fiat currency, money is a tool used to settle debts, often considered as a final extinguisher of debt. However, in this system, the ability to fully discharge debt with finality is challenged. The counterparty risk inherent in the currency base, where even cash under the mattress can be devalued, poses a form of risk to purchasing power that remains until converted into assets like gold or Bitcoin.
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