Part 1 - What Is Money and How To Think About It
Money For the Rest of Us
J. David Stein
4.5 • 1.4K Ratings
🗓️ 29 June 2022
⏱️ 41 minutes
🧾️ Download transcript
Summary
David and his son Camden hold a conversation about money, its attributes, how it's created, and how money differs from investments.
Topics covered include:
- How our earliest money memories impact our views on money
- The difference between public and private money
- What are the two primary attributes of money
- Why money should be accepted with no questions asked
- How some countries use more cash than others
- How money differs from investing
- Why private money can be risky
For more information on this episode click here.
Show Notes
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Transcript
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| 0:00.0 | Welcome to Money for the Rest of Us. |
| 0:02.8 | This is a personal financial show on Money. |
| 0:05.4 | How it works, how to invest in, how to live without worrying about it. |
| 0:09.8 | I'm your host David Stein, today is episode 392. |
| 0:13.1 | It's titled What is Money? |
| 0:15.6 | And How to Think about it? |
| 0:17.8 | Part 1. |
| 0:19.4 | This episode format is different than we've done in Money for the Rest of Us. |
| 0:23.7 | My son, Camden and I have a discussion about money and we do it over a period of two |
| 0:29.2 | episodes. |
| 0:30.8 | We dive into a number of aspects of money, public versus private money, how money is debt, |
| 0:37.0 | what are the attributes of money, how money is energy and many other topics. |
| 0:43.0 | Hopefully you'll find this two-part series helpful. |
| 0:47.2 | Let's go ahead and get started. |
| 0:50.2 | The first episode of Money for the Rest of Us was on What is Money. |
| 0:54.2 | And we've had a number of episodes about money, what is it, how to use it, how it's |
| 0:58.8 | created, what are the risk with money. |
| 1:01.3 | But there has been a lot of developments in really the last few months, where I would |
| 1:07.6 | say there's a lot of money confusion, where individuals thought they held something that |
| 1:14.1 | was money, Terra USD, the stablecoin, for example, and within hours that money was completely |
| 1:21.2 | gone. |
| 1:22.4 | So I thought it would be helpful to bring in my son, Camden, who is a partner at Money |
... |
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