Ep. 246 I DIE ACHILLESFERSE DES FIATGELDSYSTEMS (nur Ton)

Title: Ep. 246 I DIE ACHILLESFERSE DES FIATGELDSYSTEMS (nur Ton) Channel: Thorsten Polleit

Description: The Fiat money system, once established, does not disappear overnight. It is important not to hold on to the expectation or hope that it will vanish easily. Fiat money will lose its purchasing power, it may even collapse, but there is a significant probability that it will be preserved, although at the cost of the freedom of citizens and entrepreneurs. However, it doesn't have to be this way. The Fiat money system has a vulnerable point: In Homer's epic, the Iliad, Hector is killed by Achilles. Hector's brother, Paris, seeks revenge by shooting Achilles in the heel with a poisoned arrow, causing the seemingly invincible warrior to perish. The demand for money is, in a way, the Achilles' heel of the Fiat money system. Presented by Thorsten Polleit, recorded on April 24, 2024.

To summarize the video: The video discusses the vulnerabilities of the Fiat money system, likening it to Achilles' heel in Greek mythology. It highlights the importance of understanding the fragility of the system and the potential impact on the freedom of individuals and businesses.

Tutorial:

1. Introduction to Fiat Money System: Understand the concept of Fiat money and its role in the economy. Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity like gold or silver.

2. Importance of Money Demand: Learn about the significance of money demand in the stability and functioning of the Fiat money system. Money demand refers to the desire of individuals and businesses to hold money for transactions and as a store of value.

3. Achilles' Heel Analogy: Explore the analogy of Achilles' heel in Greek mythology as a vulnerable point in the Fiat money system. Understand how the demand for money can impact the stability and sustainability of the system.

4. Implications for Citizens and Entrepreneurs: Consider the potential consequences of a weakening Fiat money system on the freedom and economic activities of individuals and businesses. Reflect on how changes in purchasing power can affect financial decisions.

5. Thorsten Polleit's Insights: Follow Thorsten Polleit on social media platforms to stay updated on his analysis and perspectives on economic and monetary issues. Engage with his content to deepen your understanding of the Fiat money system and related topics.

6. Further Reading: Explore Thorsten Polleit's latest books, such as "Des Teufels Geld" and "The Global Currency Plot," to delve deeper into the complexities of the Fiat money system and global monetary trends. Consider these resources for a comprehensive understanding of the subject matter.

7. Takeaway: Reflect on the key message of the video regarding the vulnerabilities of the Fiat money system and the importance of being aware of its potential impact on society and the economy. Stay informed and continue learning about monetary systems to make informed financial decisions.

By following these steps, you will gain a better understanding of the Fiat money system, its vulnerabilities, and the implications for individuals and businesses in the current economic landscape.