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1: What Is Money?

May 19, 2014 by David Stein

How money is created out of thin air.

Photo by godwinn

Money is digits. It hasn’t always been that way.

Money used to be gold bullion or silver and later became coins and paper bills backed by gold.

Now it’s mostly digits. Just bits stored on a computer at your bank.

The amazing thing about digital money is it can be created or destroyed simply by changing the digits. It is as easy for governments and banks to create money as it is to change the score on the scoreboard.

In this episode, you’ll learn:

  1. Who I am and why I’m hosting a podcast on money, investing and the economy.
  2. Why money is no longer physical and why it’s no longer backed by gold.
  3. How the gold standard worked.
  4. How federal governments and banks create money out of thin air.How money is destroyed.
  5. How federal governments force us to use their money.
  6. Why money has value.
  7. What keeps federal governments from creating too much money.
  8. How knowing what money is and how it is created can change how you invest.

Show Notes

Money In The Modern Economy: An Introduction – Bank of England – Q1 2014

Money Creation In  The Modern Economy – Bank of England – Q1 2014

Click here to get the Insider’s Guide with show notes and an Insider only essay sent to you each week by email

Filed Under: Podcast

J. David Stein
Darby Creek Advisors LLC
P.O. Box 51720 • Idaho Falls, ID • 83405
P: (208) 557-9020

jd@moneyfortherestofus.com

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