Own What Is Real
Money For the Rest of Us
J. David Stein
4.5 • 1.4K Ratings
🗓️ 24 March 2021
⏱️ 28 minutes
🔗️ Recording | iTunes | RSS
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Summary
There has never been this much money in the world. Now is the time to own real property.
Topics covered include:
- How to buy something with Bitcoin
- How cryptocurrencies are similar and different from fiat currencies
- What is legal tender
- Why there has never been this much money in the world
- Why central banks can control interest rates but not inflation
- What real property should investors own
Thanks to Truebill and Babbel for sponsoring the episode. Use code David for Babbel to get an additional three months free.
For more information on this episode click here.
Show Notes
The Power of Gold: The History of an Obsession by Peter L. Bernstein
IRS Virtual Currency Guidance Announcement 2014-21—Internal Revenue Service
Legal Tender Status—U.S. Department of the Treasury
Total Circulating Bitcoin—Blockchain Charts
M2 Money Stock/Gross Domestic Product—Federal Reserve Bank of St. Louis
Monthly Budget Review: Summary for Fiscal Year 2020—Congressional Budget Office
A Fed With No Fear of Inflation Should Scare Investors by James Mackintosh—The Wall Street Journal
Turkey faces a currency crisis after Erdogan sacks his central banker—The Economist
Related Episodes
295: Federal Reserve Insolvency and Monetizing the National Debt
316: Paper, Rocks, or Digits—What Makes the Best Money
322: Why Currency Exchange Rates Matter
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Transcript
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| 0:00.0 | Welcome to Money for the Rest of Us. |
| 0:02.9 | This is a personal financial on money, how it works, how to invest it, how to live without |
| 0:08.7 | worrying about it. |
| 0:09.7 | I'm your host, David Stein, today is episode 336. |
| 0:14.1 | It's titled, Own What is Real? |
| 0:19.2 | Almost 15 years ago, I bought a Panerai Mechanical Watch, which I wear every day. |
| 0:25.7 | I bought it so I could keep it at the rest of my life. |
| 0:28.8 | There's no battery to change, and every five to eight years I send it in to be cleaned |
| 0:34.2 | and serviced. |
| 0:35.8 | The watch is real, it's physical, it's beautifully made, it has scratches, nicks, patina. |
| 0:45.4 | It had been eight years since I had it serviced, it was still working fine, but I decided to |
| 0:50.2 | send it in to Panerai to service the movement, the gears that make the watch work. |
| 0:57.5 | I took it to UPS, I insured the package, I sent it two days. |
| 1:03.5 | That was last Thursday, it was supposed to arrive on Saturday. |
| 1:07.2 | Then they said it was supposed to arrive on Monday, yesterday, today it's Tuesday. |
| 1:12.9 | The package has been in Good Year Arizona the entire time. |
| 1:17.8 | I don't know if the watch has been lost, stolen, I went on the website, it now says it |
| 1:23.6 | will arrive on Wednesday. |
| 1:25.6 | I'm a little concerned. |
| 1:26.6 | I like my watch, I tried calling UPS for ten minutes, I went back and forth through |
| 1:33.8 | different automated voice assistants. |
| 1:37.4 | No one would ever pick up the phone. |
... |
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