We Study Billionaires - The Investor’s Podcast Network

TIP574: Broken Money 1/2 w/ Lyn Alden

Sep 3, 2023

01:18:20

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Lyn Alden, author of Broken Money, joins Stig Brodersen and Preston Pysh to discuss the flaws in the current monetary system, the relevance of commodity money, and the fractional banking reserve system. They also explore the role of the US military in backing the US dollar, the funding of wars through currency debasement, and the impact of fiat currencies on emerging countries. A captivating conversation on the broken money system, its historical context, and its implications on our lives.

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Podcast summary created with Snipd AI

Quick takeaways

The podcast highlights the challenges and inefficiencies of the current monetary system, emphasizing the disparity between different fiat currencies and its impact on global transactions and wealth accumulation.

The episode explores the history and evolution of commodity money, its role in facilitating trade, and the shift towards abstracted forms of money.

The fractional reserve banking system is discussed, emphasizing its potential for economic crises, its impact on a country's industrial base and military capabilities, and the interconnectedness between currency strength, economy, and military power.

Deep dives

The History of Money and the Broken Monetary System

The podcast episode explores the history of money and the current broken monetary system. It highlights how money has evolved over time and discusses the challenges and inefficiencies of the current monetary system. The episode emphasizes the disparity between different fiat currencies and how it affects people's ability to accumulate capital and transact globally. It also touches on the importance of a global reserve currency and the role of the US dollar in the current system. Overall, the episode provides insights into the problems of the current monetary system and raises questions about its sustainability.

The Role of Currency Stability in Developing Countries

01:45

The Evolution of Monetary Systems

04:10

The Great Theory of Money

01:07

The Importance of Probability in Banking

00:29

Introduction

4min

Introduction and the Concept of Commodity Money

14min

From Silver to Gold: The Historical Shift in Money

4min

Theories of Money and the Role of Trust and Context

19min

The Impact of the US Dollar's Privileged Position on the Industrial Base and Trade Balance

6min

The Centralization of Banking During the American Civil War

29min

Exploring the Thought-Provoking Ideas in 'Broken Money'

7min

In this episode, Stig Brodersen and Preston Pysh talk with Lyn Alden about her new book, Broken Money. In this first part episode of two, you’ll quickly hear why Stig and Preston think Broken Money is one of the best books they read in 2023.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

03:50 - Why the current monetary system is broken

08:02 - What commodity money is and why it’s relevant to understand today

28:33 - Why the fractional banking reserve system is like a game of musical chairs

47:36 - How important the strength of the US military is for backing the US dollar

51:17 - How debasement of currencies can fund wars

1:01:31 - The role fiat currencies have played in wars

1:06:02 - How do wealthy countries push inflation and volatility to emerging countries?

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Lyn Alden’s book, Broken Money – Read reviews here
Listen to our interview with Lyn Alden about How the Fed Went Broke, or watch the video.
Tune into our interview with Lyn Alden about Macro and the energy market, or watch the video.
Listen to our interview with Lyn Alden about Money or watch the video.
Tune into our interview with Lyn Alden about Gold and Commodities, or watch the video.
Lyn Alden's free website
Lyn Alden's premium newsletter
Listen to our interview with Alex Gladstein about issues with fiat currencies, or watch the video.

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We Study Billionaires - The Investor’s Podcast Network

TIP574: Broken Money 1/2 w/ Lyn Alden

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

The History of Money and the Broken Monetary System

Commodity Money and the Role of Technological Progress

The Fractional Reserve Banking System and its Implications

The Evolution and Challenges of Monetary Systems

The UK's financing of World War I

Dollar imperialism and the impact on developing nations

The Role of Currency Stability in Developing Countries

The Evolution of Monetary Systems

The Great Theory of Money

The Importance of Probability in Banking

Get the Snipd
podcast app

AI-powered
podcast player

Discover
highlights

Save any
moment

Share
& Export

AI-powered
podcast player

Discover
highlights

We Study Billionaires - The Investor’s Podcast Network

TIP574: Broken Money 1/2 w/ Lyn Alden

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

The History of Money and the Broken Monetary System

Commodity Money and the Role of Technological Progress

The Fractional Reserve Banking System and its Implications

The Evolution and Challenges of Monetary Systems

The UK's financing of World War I

Dollar imperialism and the impact on developing nations

The Role of Currency Stability in Developing Countries

The Evolution of Monetary Systems

The Great Theory of Money

The Importance of Probability in Banking

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