We Study Billionaires - The Investor’s Podcast Network TIP574: Broken Money 1/2 w/ Lyn Alden
231 snips
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.
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Broken Money System
- Money is broken on a global scale, impacting liquid capital accumulation and transactions.
- Developing countries face hyperinflation, arbitrary asset freezes, and limited growth opportunities.
Commodity Money and Progress
- Commodity money, driven by technological progress, solves trade inefficiencies in larger groups.
- It represents stored value and facilitates spot trading when trust or time is limited.
Gold, Silver, and Abstraction
- Gold and silver's scarcity made them historically preferred money, outcompeting easier-to-produce commodities.
- Abstraction through banking systems eventually marginalized physical gold and silver's role.
