I had the pleasure of reading Tim Peterson’s latest book, The Debauchery of Currency: A Bloody History of Money, and I found it to be one of the most thought-provoking books that I had read in a long time.
This is not the typical financial book that one requires a degree in economics or finance licenses to understand. Instead, this book takes the reader on a fascinating journey into how money has shaped civilization to date and how it is reshaping our future.
We all grow up learning about history in school; however, money’s contribution to the molding of civilization seems to have been left out of the curriculum. As a result, most people really have no concept of what money is, how it works or why it makes the world go round – despite it playing such an instrumental role in the story of civilization. Tim’s book fills in the necessary gaps by providing a new look at world history told through the lens of money.
In this episode of the Decent Millionaire podcast, Tim and I discuss some of the book’s highlights because, as Tim so aptly states, “you can't understand digital assets and bitcoin until you understand the history of money.”
Episode highlights include:
How currency debasement inevitably destroys financial empires;
How the loss of purchasing power historically leads to war;
The characteristics of good money versus bad money;
The accelerating speed of currency debasement;
The root cause of the American Revolution and how it relates to current events;
Why BRICS won’t displace the dollar;
The beneficiaries of inflation;
The era of smart money;
Why bitcoin is savings money not spending money;
Why bitcoin is the peaceful path.
Resource links related to this episode:
Discover more of Tim’s digital asset research and see why he has been called a bitcoin clairvoyant
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Check out previous podcast episodes with Tim Peterson:
About The Decent Millionaire Podcast
The Decent Millionaire podcast (short for decentralized millionaire), hosted by fintech pundit Dara Albright, is an episodic podcast series that helps people discover the unprecedented wealth creating potential of decentralization, web3 & Participate2Earn Economics (P2E Economics for short). Whether you are an individual looking to learn how web3 can make you healthier, wealthier and wiser – without investing a dime; or whether you are a policymaker, financial professional or economist seeking to understand how this new macroeconomic framework will foster economic expansion, narrow wealth gaps, raise literacy rates, improve the healthcare system and ensure ample retirement savings for all, this is the podcast for you.
How Money Shaped History and How it will Define Humanity's Future