Mind Mastery

In this video, we'll be analysing a video from Mike Maloney about money vs currency. I point out many mistakes he and his team make about the concepts of money and currency, whilst also commending him for the more accurate information he does share and his honest intentions. I cover subjective vs objective value, money as a medium of exchange, unit of account and store of value. Plus many other characteristics of money. 

I explain in detail why gold was used in the past because we had little choice, but as of today, it's not a good money. I continue to discuss bitcoin, sharing the pros and cons of the latest centralised monetary system. I explain the reasoning why a money with a physical backing is a limiting and vulnerable form of money. I also share how it can be argued fiat currency has a higher value than gold and silver.

I touch on other forms of money that have been used in the past, such as tally sticks, Fei stones, tobacco, mackerel, sea shells and cigarettes. This may be the first time you've ever heard anyone speak about money like this, so I ask you to keep an open mind and consider new possibilities.

This video was made March 3, 2024. My views and knowledge may change with time, so watch with discretion. For instance, when I say intrinsic value, I've come to learn I actually mean objective value, as nothing is intrinsically valuable. But this is a small detail and not necessarily worth worrying about unless you're a philosopher.