#203: Everything You Need To Know About The History Of Money, Inflation And Recessions

What is money? With everything going on right now – from an impending recession and skyrocketing inflation, I was keen to have Davinci Jeremie on the show again. This time, we are doing a deep dive into the history of money. Leaning on his experience as a software developer and an early adopter of cryptocurrency, Davinci takes listeners back to the beginning of money; we talk about gold and silver, why paper money was introduced, and the start of the banking system. We also discuss the advent of digital currencies, why governments are printing money and the severity of the upcoming recession. If you want to understand money and how the system works, this is an episode you should not miss.   Discussion points 02:30 Why Davinci is back on the show 03:20 What is money? 08:47 Why gold and silver was used as a bartering tool 09:48 The introduction of paper money 13:09 The transition to paper money 14:13 The first recorded bank 15:32 Why the bank system will collapse 19:49 What happened in 2008 28:37 The printing of money 33:29 The start of digital currencies 38:00 Why people still own fiat money 38:38 Scams, fraud and theft 43:27 Fiat money VS digital currencies 50:53 What a bail-in is and how it affects you 54:43 The 1-to-10 rule 59:20 Are we in a recession? 01:01:03 What stocks are good to buy 01:02:25 The safety of crypto trading platforms 01:07:03 Responsibilies of giving trading advice 01:12:11 Web3: uses of the metaverse 01:17:48 BTC and ETH predictions for the rest of the year   Show Sponsors: Smartkas: Providing food security as a service [https://www.instagram.com/smartkastech/?hl=en] Najahi Events: The UAE’s leading event promotor [https://www.instagram.com/najahievents/?hl=en]   Socials: Spencer Lodge https://www.instagram.com/spencer.lodge/?hl=en https://www.linkedin.com/in/spencerlodge/ https://www.youtube.com/c/SpencerLodgeTV   Davinci Jeremie https://www.instagram.com/davincij15/?hl=en https://twitter.com/Davincij15?s=20 https://www.youtube.com/user/davincij15