Money, Foreign Exchange, Finance.

 

1. How are money and currency defined?

Money is defined as a tool for trading your time. It is a container to store your economic energy until you are ready to deploy it 

Currency is defined as a deceitful imposter that is stealing your two most valuable assets, our time, and our freedom.

2. What are the differences between currency and money? 

Currency is a medium of exchange for goods and services. Money is a unified method of exchange for goods and services.

Money must be a store of value and maintain its purchasing power over long periods of time. 

3. What are their most important characteristics?

Both are a medium of exchange, a unit of account, is portable, durable, visible even fungible, but money is limited and quantitative

4. What is a Fiat currency?

Is a currency that exists at the dictate or by fiat from a government. 

They have their printing presses and the paper money rolls of the printing presses.  They give it the fiat designation which then makes the currency official.

5. What are its characteristics?

An special sign

6. What is money and currency used for?

It is an instrument to exchange money and currency for things that we want and need.

7. What does “store of value” refer to?

A store of value is any commodity or asset that would normally retain purchasing power into the future and is the function of the asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved

8. What was the currency used in the past?

They used gold or silver as a unified tool to exchange it for sugar, salt, food, etc.

9. What is the most beautiful way of money?

Money is divisible and permanent and it does not go away.

10. What is a “solving system”?

Governments don't like gold at present because they are getting away with the fiat currencies, and they will do everything they can to discredit it as an asset class. There is the fear that maybe gold will be imposed on the system.

11. What happens when governments expand the currency supplies?

Inflation is an expansion of the currency supply

12. What is barter?

Barter is an act of trading goods or services between two or more parties without the use of money or a monetary medium, such as a credit card In essence, bartering involves the provision of one good or service by one party in return for another good or service from another party

13. What is Quantity of Easy? 

It is just a smoke and mirrors term for currency creation. Just like a myth.

14. What is the tendency of QEs around the world?

It started with the banking bailouts back in 2009. This currency was created out of thin air and then given to the banks who paid themselves record bonuses in reward for crashing the world economy.

Write a final reflection on the topic, mentioning what were the most important aspects you learned. 

The video is really very interesting, I learned new things and it was very entertaining.

At the beginning of the video he talks about the importance of finances, and I totally agree with that, I think we all need to know about money and everything that surrounds it, especially those of us who study something related to this topic.

He explains very well each part of the video and each term mentioned.

I did not know the difference between money and currencies and I think it was one of the most important aspects that I learned from the video