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