We Study Billionaires - The Investor’s Podcast Network
TIP574: Broken Money 1/2 w/ Lyn Alden
Sep 3, 2023
Lyn Alden, author of 'Broken Money' and a recognized expert on monetary systems, discusses the flaws in contemporary finance. She shares insights on the relevance of commodity money and how the fractional reserve system is akin to musical chairs. Alden explores the U.S. military's role in supporting the dollar and highlights how currency debasement can finance wars. The conversation also touches on how wealthy countries influence inflation in emerging markets, offering a comprehensive view of the complex global monetary landscape.
01:18:20
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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.
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.
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