Welcome to the Money Tree Investing Podcast. Stock market, wealth, personal finance, value stocks, invest in your life.

Hello, welcome to the Money Tree Investing Podcast. This is the podcast where we bring in investing experts every single week for a short interview and then follow it up with a discussion

with our panel. Today's guest is Andy Duncan. He's an expert in financial derivatives. He's also an

Austrian economist and he is a lecturer on various investing topics and economics as well. So I want

to thank you for your time, Andy, and welcome to the show.

It's my pleasure to be here, Andrew, and I think you have a fantastic first name.

Yeah, we do share that first name there. I just kind of wanted to jump right into the questions

I have for you today. I was wondering, you know, with everything that's going on in the world today and how we're seeing money move around and the circulation of money, can you explain this phenomenon of the destruction of money and how it's affecting our world today?

Well, that's a very short question. There's a very, very long answer. Can I can, can I have a little bit of time with you today to explain that?

Yeah, of course. Take as much time as you need.

Well, if we go back, say, 500 years and we go back to, say, a really free market in money,

we'll have to make believe here. Let's imagine there's a little island. We'll call it Manhattan to give people a clue where this might be, but let's say we have a little island, and on that island they have

real money. This is real private money. It might be coconut shells. It might be clamshells. It probably

is going to be gold or silver. Let's just make it gold for want of anything else. These gold

coins can't be destroyed.

You can hoard them, you can put them in a vault, you can spend them, you can bury them,

but they can't be destroyed.

But then what we have is we have arising a kind of agreement between the banks and the state.

We'll call the mafia gang that runs Manhattan Island.

And they have a little agreement with the banks that what they're going to do is what they used to do is you used to put your gold coins into a vault.

That would be the bank.

And then they would charge you a certain percentage of that, say 1% of that amount of money a year to store those gold coins for you.

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