Rob explains the crucial difference between currency and money, and why we should seek to differentiate between the two when discussing wealth and finance.
KEY TAKEAWAYS
The main characteristic of currency is that it's a unit of trade, it's portable, it is durable, divisible and fungible.
Money shares the same characteristics as currency, but it is also a storer of value. Since the early 1910s, the dollar and pound have lost 97-98% of their value as a currency, whereas money itself has provably maintained its purchasing power.
BEST MOMENTS
'Most of the world is getting very confused about this'
'This is the key difference'
ABOUT USProperty Nomads brings property and all things currency, money and macro straight to you. All with a no-nonsense attitude!
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PODCAST DESCRIPTION Property Nomads brings property and all things currency, money and macro straight to you. All with a no-nonsense attitude!
PROPERTY BOOKS Property FAQs = https://amzn.to/3MWfcL4 Buy To Let: How To Get Started = https://amzn.to/3genjle 101 Top Property Tips = https://amzn.to/2NxuAQL WHERE TO FIND US = https://linktr.ee/thepropertynomadspodcast
SOVEREIGN MAN PREMIUM INTELLIGENCE MEMBERSHIP = https://dash.sovereignman.com/a/smc12m995/tpnpodcast SOVEREIGN MAN 4th PILLAR = https://dash.sovereignman.com/a/4pmain/tpnpodcast
ABOUT THE HOST Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.
uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
