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Podcast: The Property Nomads Podcast
Episode: The 1 BIG Difference Between Currency and Money
Description: Rob explains the crucial difference between currency and money, and why we should seek to differentiate between the two when discussing wealth and finance. KEY TAKEAWAYS The main characteristic of currency is that it's a unit of trade, it's portable, it is durable, divisible and fungible. Money shares the same characteristics as currency, but it is also a storer of value. Since the early 1910s, the dollar and pound have lost 97-98% of their value as a currency, whereas money itself has provably maintained its purchasing power. BEST MOMENTS 'Most of the world...