We use it. We crave it. And we chase it. <\/p>\n\n\n\n
\u201cIt\u201d being that paper in our wallets, of course. And those digits on our bank statements. And let\u2019s not forget, in today\u2019s virtual world, cryptocurrency.<\/p>\n\n\n\n
But as novelist Thomas Pynchon once wrote, \u201cMoney, it turned out, was exactly like sex. You thought of nothing else if you didn\u2019t have it and thought of other things if you did<\/em>.\u201d <\/p>\n\n\n\n Here\u2019s the thing, though: How does money work? <\/p>\n\n\n\n It\u2019s a complex yet fascinating subject that can make even the savviest among us scratch our heads. So with the help of Robert Breedlove, an ex-hedge fund manager and host of The “What Is Money?” Show<\/a>, it\u2019s time to delve into the labyrinth of monetary systems.<\/p>\n\n\n\n In a sit-down with Vishen, the founder and CEO of Mindvalley, Robert sheds light on everything from Bitcoin and central banking to our intrinsic relationship with money itself. And learning how money works<\/a> is the first step to transforming your relationship with the all-mighty dollar.<\/p>\n\n\n\n As a Mindvalley Member, you can listen to the whole interview<\/em>, <\/strong>The Fundamentals of Money With Robert Breedlove<\/strong><\/a>, on the Mindvalley App<\/em>. <\/strong><\/p>\n\n\n\n Money, moolah, cash, dough, greenbacks\u2014call it what you will, but this ubiquitous entity has been a cornerstone of human civilization for eons. Throughout history, monetary systems have constantly evolved, adapting to societal needs and technological advancements. <\/p>\n\n\n\n Back in the day, bartering was the name of the game. Got a chicken but need a goat? No problem; find someone with a surplus of goats and an appetite for poultry, and\u2014voila!<\/em>\u2014you\u2019ve got yourself a deal.<\/p>\n\n\n\n Then came the shiny yellow nuggets, a.k.a., gold. With its durability, divisibility, and relative scarcity, this form of currency became the ideal candidate for a universal medium of exchange. (And let\u2019s be honest: it\u2019s also a whole lot easier to carry around a pouch of gold coins than a herd of goats.)<\/p>\n\n\n\n Fast forward to the modern era, where gold has been sidelined in favor of fiat currencies\u2014money that holds value because a government says it does. It\u2019s like saying, \u201cTrust us, this piece of paper is totally worth a hundred goats!<\/em>\u201d<\/p>\n\n\n\n Based on an article<\/a> by the International Monetary Fund, money can essentially be\u2026<\/p>\n\n\n\n \u201cIn a nutshell<\/em>,\u201d explains Robert, \u201cmoney is a tool for trading time and energy<\/em>.\u201d<\/p>\n\n\n\n While this might seem like a philosophical take on money, solid economic principles back it up. According to the U.S. Bureau of Labor Statistics, there\u2019s a direct correlation<\/a> between the level of education (time and energy investment) and median weekly earnings (money). <\/p>\n\n\n\n What that means is, the more time and energy you invest, the more money you\u2019re likely to earn. A doctoral degree, for example, will yield you a higher salary.<\/p>\n\n\n\n So instead of thinking of money as a mysterious concept or an unattainable goal, think of it as a form of exchange. It translates your efforts into a universally accepted value.<\/strong><\/p>\n\n\n\nHow does money work?<\/h2>\n\n\n\n
What is money?<\/h3>\n\n\n\n
\n