C: What is Money? Part I

8 Lessons, 8 Exercises, 202 pages Coursework, 6h 31m Audio

In the year 2000, former US Central Bank Chairman Alan Greenspan told US Senator Ron Paul that he couldn’t define what money was anymore and that “it [was] not possible to manage something you cannot define.” Though this statement by the world’s most powerful banker should have been an immediate red flag to every citizen in the world to prepare for decades of devaluing purchasing power, two decades later, less than 1% of the world’s citizens have done anything to prepare, even as of 2022.

In Course C, I discuss concepts that you will not hear or read about in any academic classroom around the world that truly rule asset price behavior versus the theoretical supply and demand concepts we are taught to embrace in business schools.  I further explain why your typical Econ 101 classes, even those taught at Oxford, Cambridge, Harvard and Wharton business schools, have nearly zero value in understanding currency market behavior and how asset prices are set in global financial markets. Here is a quick experiment you can do right now that will serve as validation of my claim. Ask 10 MBA graduates to name the 10 qualities all money must have (not in each other’s presence, but separately, so they cannot present one answer as a group of 10, but must provide the answers himself or herself with zero assistance). If they cannot name at least 7 or 8 of the 10 qualities all money must possess, then this proves my point about the general lack of utility about all monetary concepts covered in every single business school in the world, as this is one of the most basic foundations of real monetary theory that should be taught in all business classrooms yet is conspicuously absent from every single one of them.

Finally, I let you know why all Central Bankers desire fiat currencies that cannot be “defined”. There is a devious reason behind the production of fiat currencies that people “cannot define” that has led to the enormous inequality in global wealth in nearly every nation on planet Earth by 2019 and that has been magnified in the years that followed, especially during pandemic lockdowns. In this course I define the 10 characteristics that all money should possess that you will never find in any academic textbook or in any book anywhere in the world. This list will allow you to easily identify which forms of money one should hold and which forms one should sell, including any future cryptocurrency ICOs (Initial Coin Offerings).  I use pricing mechanisms in another well-known global industry to illustrate how easily most of us can be led into embracing false price mechanisms. I further explain that because we are born into these paradigms and taught in school to never question them, we continue to believe in false monetary paradigms today. 

In Course C, I discuss the assets everyone will need to own, rich or poor, if you want to survive the second meltdown of the global banking system and the implosion of the Bubble of Everything that will likely manifest between 2024 and 2029. I also break down the myths about bitcoin and other cryptocurrencies that will allow you to make decisions about whether to invest in or completely avoid cryptocurrencies based upon real risks and real potential reward versus speculation and unsubstantiated rumors that are passed off as facts by BTC whales time and time again. Finally, I provide exercises in which you will uncover the real reasons, not the academic textbook reasons, why all fiat currencies lose tremendous amounts of purchasing power over time. More importantly, learn the concrete steps you can take to not only stop this erosion of purchasing power, but to reverse it altogether.