How is money made?
In this episode, our hosts unpack how money gets generated. They discuss capitalism, fiat money and highlight the two main ways you can accumulate wealth.
We’re currently living in a capitalist system, where the wealth gap between the rich and the poor is widening. It is therefore imperative that we learn more about how money gets created.
What is the difference between an R20 note and a $20 note? They are both made out of paper, but the value that they can give you is very different. You can buy ten times more with the $20 note than you can with an R20 note. That is fiat money - the issuing government gives it its value. Hard or commodity money such as gold or silver, on the other hand, has the same buying power wherever you go in the world.
So how do you get your hands on more money? Firstly, create value - use your talents, your skills, and your labour to earn money. Secondly, you must get into the right mindset of accumulation. Thirdly, you need to build a steady stream that generates passive income.
This list is by no means exhaustive because we do not have all the answers. So in the comments section, please suggest people you would like to see featured, so we can all learn and grow wealthy together.
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