The #1 Evidence Based Growth Podcast on the Internet. The Science of Success is about the search for evidence based personal growth. It's about exploring ways to improve your decision-making, understand your mind and how psychology rules the world around you, and learn from experts and thought leaders about ways we can become better versions of ourselves.
Manage episode 304590173 series 1333789
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Check out our sponsors: Athletic Greens: Go to athleticgreens.com/impact and receive a FREE 1 year supply of Vitamin D AND 5 free travel packs with your first purchase! ButcherBox: Sign up at ButcherBox.com/impact and get 2 lbs of ground beef FREE in every order for the life of your membership. Public Rec: Go to PublicRec.com and use promo code IMPACT to receive 10% off. Audible: Start listening with a 30-day free trial, one free audiobook and access to the Plus Catalog. Visit audible.com/IMPACTTHEORY or text IMPACTTHEORY to 500-500 CuriosityStream: Go to https://curiositystream.com/impact and use code IMPACT to save 25% off today, that’s only $14.99 a year. Having a complete understanding of the financial system we’ve become accustomed to since birth is not only advantageous, but it’s an absolute must. The gap between really understanding the impact and full gravity of inflation and living by a feeling or a suspicion is too wide to ignore. Nic Carter is an entrepreneur, investor, columnist and advisor in the Bitcoin crypto space. He’s joining Tom today to break down some principle ideas and thoughts to help you at least research what you should be doing with your money, your government issued and government backed money. What’s happening with crypto and NFTs isn’t something you can ignore or sleep through. Bitcoin has been going strong for more than a decade. You have a moral obligation to yourself and to your family to at least understand how inflation works, why increasing assets is like theft of your dollar’s value and how you can protect yourself and be part of the wealth redistribution in a way that benefits you more than harms you. SHOW NOTES: 0:00 | Introduction to Nic Carter 1:31 | Does Bitcoin Matter? 4:21 | What is Money? 8:52 | Creating Devalued Money 14:43 | Redistribution & Inflation of Assets 22:24 | Reacting to Inflation 27:54 | Japan’s Stagflation 36:57 | Energy, Euphoria & Bitcoin 40:47 | Fiat Money Explained 45:10 | Do Research Money 49:16 | Bitcoin Value Vs Fiat Value 54:13 | Bitcoin, Digital Gold 57:52 | Value System by Design QUOTES: “Devaluing the monetary medium that we store our work and labor in is always redistributive. So it's effectively a way to reapportion societal resources from some group to another group.” [9:59] “there's a wealth effect whereby people feel richer, and then they spend more like if the value of your 401k goes a lot, goes up a lot, you're probably willing to buy that nice new car, if the value of your house goes up a lot” [16:23] “There's nothing that guarantees that public equity investors in the US are going to earn 7% every year for the rest of all time.” [31:38] “As an entrepreneur in the crypto space, and someone who allocates capital, my best hope is to sort of create the tools and the systems that regular folks can use to potentially escape a ruinous Fiat system.” [40:15] “The government cultivates an environment in which the dollar has value. They have certain tools to do that, one is tax policy...” [42:09] “The first thing is just not not accepting uncritically the narratives coming out of sort of our monetary elites in this country.” [49:06] Follow Nic Carter: Website: https://niccarter.info/ Twitter: https://twitter.com/nic__carter