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What really defines the value of money? Is it all about the gold standard or is it just what we collectively believe? In this episode, we’re taking you on a mind-bending journey to rethink everything you know about the value of money. We’ll start by breaking down its three core roles: unit of account, means of exchange, and store of value. Plus, we’ll bust some myths around gold’s worth, diving into both its physical properties and the societal beliefs that have kept it valuable for centuries.

Hop back in time to the 1600s and discover how modern banking kicked off with William Patterson’s game-changing idea. This revolutionary moment not only rebuilt the English Navy but also shifted us from gold to paper money, shaping the financial world as we know it. We’ll also explore the early barter systems and the evolution of commodity money that paved the way for today’s complicated financial systems.

Once you grasp the fluid nature of the value of money, your financial strategies will shift too. We’ll dive into how societal beliefs shape the value of money, and how you can better navigate today’s financial landscape. Learn the role central banks play and pick up some smart, income-boosting tips. By tapping into the knowledge of high-earners and continually learning, you can protect yourself against financial uncertainties. Don’t miss this eye-opening chat that’ll leave you thinking about the value of money in a whole new way!

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Disclaimer: All content on this channel is for education purposes only and does not constitute an investment recommendation or individual financial advice. For that, you should speak to a regulated, independent professional. The value of investments and the income from them can go down as well as up, so you may get back less than you invest. The views expressed on this channel may no longer be current. The information provided is not a personal recommendation for any particular investment. Tax treatment depends on individual circumstances and all tax rules may change in the future. If you are unsure about the suitability of an investment, you should speak to a regulated, independent professional.

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