Why Your Money Becomes WORTHLESS & How To Build Wealth In The NEW ECONOMY | Robert Breedlove

Tom Bilyeu's Impact Theory

Impact Theory

Business, News Commentary, News

4.7 • 5.2K Ratings

🗓️ 16 February 2023

⏱️ 223 minutes

🔗️ Recording | iTunes | RSS

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Summary

No one wants to hear that the money they save today will be worthless tomorrow, and yet no one can deny that inflation is hitting everyone at the grocery store. What does this all mean and what can you do about it? You’re living through a recession that the government can’t seem to agree on or admit to whether you like it or not. Robert Breedlove hosts the podcast, ‘What Is Money?’ has joined Tom a few times and broken down the complexities of money, inflation, and property rights. He’s a freedom maximalist, and bitcoin philosopher that offers food for thought that can melt your brain. His breakdown of inflation being a version of legal theft should grab your attention as it’s hard to ignore once you hear his explanation. We’re digging into key ideas such as: The money crisis How bitcoin is impacting future creation of wealth How you can better thrive during this financial crisis It always comes down to decision and how you choose to move through reality as it is not how you wish it were. Follow Robert Breedlove: YouTube: https://www.youtube.com/channel/UC43_LTf5Z4lbRjKCq0sIAVg Twitter: https://twitter.com/Breedlove22 LinkedIn:https://www.linkedin.com/in/breedlove22/ Podcast: https://whatismoneypodcast.com/ Instagram: https://www.instagram.com/breedlove_22/ Click here to download your FREE guide to 100x YOUR EFFICIENCY IN 10 EASY STEPS: https://bit.ly/3F8qOJL Build IRONCLAD discipline in this FREE workshop: https://bit.ly/3RUnYux Sponsors: Cancel unwanted subscriptions – and manage your expenses the easy way – by going to http://www.rocketmoney.com/impact. Get $500 off Peloton Tread Packages that come with accessories like a heart rate band, workout mat and non-slip dumbbells. Just go to onepeleton.com to get the deal. This episode is sponsored by BetterHelp. Give online therapy a try at http://www.betterhelp.com/impacttheory and get on your way to being your best self. Are You Ready for EXTRA Impact? If you’re ready to find true fulfillment, strengthen your focus, and ignite your true potential, the Impact Theory subscription was created just for you. Want to transform your health, sharpen your mindset, improve your relationship, or conquer the business world? This is your epicenter of greatness. This is not for the faint of heart. This is for those who dare to learn obsessively, every day, day after day. Subscription Benefits: Unlock the gates to a treasure trove of wisdom from inspiring guests like Andrew Huberman, Mel Robbins, Hal Elrod, Matthew McConaughey, and many, many, more New episodes delivered ad-free Exclusive access to Tom’s AMAs, keynote speeches, and suggestions from his personal reading list You’ll also get access to an 5 additional podcasts with hundreds of archived Impact Theory episodes, meticulously curated into themed playlists covering health, mindset, business, relationships, and more: Legendary Mindset: Mindset & Self-Improvement Money Mindset: Business & Finance Relationship Theory: Relationships Health Theory: Mental & Physical Health Power Ups: Weekly Doses of Short Motivational Quotes Subscribe on Apple Podcasts: https://apple.co/3PCvJaz Subscribe on all other platforms (Google Podcasts, Spotify, Castro, Downcast, Overcast, Pocket Casts, Podcast Addict, Podcast Republic, Podkicker, and more) : https://impacttheorynetwork.supercast.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Oxygen. Pretty important for human life. There's no price on it. Why? It's not scarce.
0:05.3	Something like diamonds, not that important to human existence yet, has a huge price because the demand way outstrips the supply.
0:12.2	The unique thing about scarcity and money is that money is always scarce.
0:18.0	I don't want to walk through one thread that all of this is me taking liberally from you.
0:23.3	So tell me where I go astray here.
0:26.4	But this was a chain of events that I was like, oh my God, I now actually understand what's
0:30.0	going on and this is terrifying.
0:31.6	So you've got World War II happens and you've got people invading countries and raiding their gold stores because why would you invade if you're not going to get something? If you can't steal something, these are your words. So you invade a country, you steal their gold. So people are like, fuck, I don't want to get invaded. So they started, or if I do, I don't want them to be able to steal my gold. So they started sending gold to the US. US ends up storing all this gold for people has a massive amount
0:59.8	of gold. And gold historically, basically money as we think of it, the tangible dollars and
1:06.7	bills, you would store gold in a protected warehouse somewhere and they would give you a paper
1:12.1	that represented the amount of gold so people being savvy started trading that because it's as good
1:17.0	as gold because you can go and cash it in so now the US post World War II has all this gold coming
1:22.1	in and we then after World War II have the Bretton Woods convention.
1:28.4	I'm not sure what it was exactly.
1:29.8	But they say, hey, we've got all this gold now.
1:32.4	We're going to make the dollar, the central reserve currency, global reserve currency,
1:38.1	excuse me.
1:39.4	But it's all backed by all this gold that we have.
1:43.0	So, hey, we're good.
1:44.0	But in 1971, for reasons that you will have to explain, Nixon decided to take us off of the gold standard.
1:50.6	So previously to that, if you had a dollar, you could actually go redeem it for gold.
1:54.6	Yes.
	...

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