This is CBSI in the world. I'm John Batchewa. John Tamney, his new book is The Money Confusion.

How a literacy about currencies and inflation sets the stage for the crypto revolution.

Crypto much in the news because of what right now are questionable activities by crypto exchanges.

There are many of them around the world. They seem to be doing business with each other.

Bitcoin is the best known cryptocurrency. Ethereum is also, but there are many more that have been invented in these last years or created and said to have value.

And that's all in play right now. However, Mr. Tamney has a vision of the future that doesn't involve questions about fraud and mixing funds together.

Exchange funds together with speculation. John, you write or you quote a wonderful irony.

The fall of crypto will know crypto is for real when it collapses. Have we got the proof, John?

Yes. I first wrote that in 2021 when crypto is at highs. I said, this is not a science for real when the coins collapse.

Well, no, it's for real because that's a sign of a more serious, more mature market. Crypto is the future.

Private money is the future. And evidence supporting it is all the carnage.

Let's not forget that in the 20th century, 2000 over 2000 car makers were funded just about every single one of them failed.

The end of cars? No, a sign of markets pushing out to pasture the bad and focusing their wealth on the good.

In the early part of the 21st century, internet companies failed on mass. The end of the internet. No, I think most would agree that it defines life today.

Again, mature markets pushing out what doesn't make sense. I think we're seeing a necessary shake up right now.

And on cue, people like Paul Krugman are saying it never served a purpose. Why why did we ever take it seriously?

That's the sure sign that some very powerful innovators are going to emerge from this, who transform our lives and probably make it safer for us to store our wealth in money.

Elon Musk again. Elon Musk is everywhere in this product line. We started with PayPal and his vision of online banking.

We moved to Tesla. That would be the lithium battery that China is mining and manufacturing into lithium ion batteries, which itself was a product of genius and investment by major companies in the 20th century.

However, we come to Elon Musk here in the third decade of the 21st century. And Musk's definition of money is an information system. What does he mean, John?

Money just reflects where out reality it tells things what does a foot do a foot rule or on its own is nothing, but it measures length.

A stopwatch measures time. Money is just an agreement about value that measures the value of goods and services we bring to the marketplace on a daily basis.

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