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.
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