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  • Hoarding, FOMO, and Zcash: A Private Bitcoin

    Hoarding, FOMO, and Zcash: A Private Bitcoin
    2025/10/29

    What’s the difference between hoarding and investing? There’s a reason markets built on productive assets—like stocks and bonds—are far larger than hoarding markets such as gold and cryptocurrency. In this episode, David explores why that is, and shares why he recently bought Zcash, and how it’s both similar to and different from Bitcoin.

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    Show Notes

    Zcash

    CoinGecko

    The Largest Companies by Market Cap in October 2025—The Motley Fool (Accessed October 2025)

    DOJ Seizes $15 Billion in Bitcoin as U.S. and U.K. Target Massive Southeast Asian Crypto Scam Network—Chainalysis

    Selling Gold in the Diamond District - Money for the Rest of Us Substack

    Related Episodes

    532: Should Private Assets, Gold, and Crypto Be Investment Options in 401k and other Defined Contribution Plans?

    513: Crypto—Innovation or Insanity? Meme Coins, Hacks, and Strategic Bitcoin Reserves

    432: Are the Economy and Financial Markets Zero-Sum Games?

    496: Are You Taking Enough Aspirational Risk?

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    22 分
  • Don’t Take Financial Advice from AI

    Don’t Take Financial Advice from AI
    2025/10/22

    How AI gets simple finance wrong, and how to make it work for you, not mislead you

    Topics covered include:

    • How AI ignores the time value of money
    • A detailed example of ChatGPT misleading by making a simple math mistake
    • Some examples of opportunity costs and sunk costs when making financial decisions
    • Understanding how AI works can help us use it more effectively


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    Show Notes

    What Kind of a “PhD-level Expert” Is ChatGPT 5.0? I Tested It. by Gary Smith—Mind Matters

    Top US Army General Says He’s Letting ChatGPT Make Military Decisions by Joe Wilkins—Futurism

    Why Language Models Hallucinate by Adam Tauman Kalai, Ofir Nachum, et al—Arxiv

    Auto Loan Calculator—nerdwallet

    Related Episodes

    538: Forests, Fakes, and the Fight for the Real

    457: AI’s Fork in the Road: Societal Bliss or Existential Threat

    450: How Higher Interest Rates Alter Our Financial Blueprint

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    27 分
  • Debasement Fears or Meme Fever? What’s Driving the Gold and Silver Rally

    Debasement Fears or Meme Fever? What’s Driving the Gold and Silver Rally
    2025/10/15

    Are gold and silver up more than 50% in 2025 because investors fear currency debasement, or is this rally just the latest meme trade? In this episode, we explore the supply and demand forces behind gold and silver, discuss investing strategies, and outline what to watch to see if investors truly are worried about debasement.

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    Show Notes

    The Great Debasement Debate Is Rippling Across World Markets by Ruth Carson, Naomi Tajitsu, and Masaki Kondo—Bloomberg

    How long will gold mania last?—Financial Times

    Dalio Echoes Griffin in Seeing Gold as Safer Than the US Dollar by Alexandra Semenova, Natalia Kniazhevich, and Lisa Abramowicz—Bloomberg

    Gold Reserves by Country—World Gold Council

    Gold's rise in central bank reserves appears unstoppable by Jamie McGeever—Reuters

    Above-ground stock—World Gold Council

    Gold Demand Trends: Q2 2025—World Gold Council

    Treasury Term Premia—Federal Reserve Bank of New York

    Trey Reik—LinkedIn

    Investments Mentioned

    iShares Gold Trust (IAU)

    SPDR Gold Trust (GLD)

    SPDR Gold MiniShares Trust (GLDM)

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    19 分
  • Beyond Munis — New ETFs for Tax-Efficient Bond Investing

    Beyond Munis — New ETFs for Tax-Efficient Bond Investing
    2025/10/08

    How to decide when to invest in municipal bonds versus new tax-efficient bond ETFs that don't invest in munis.

    We analyze several newer ETFs that earn bond-like returns while avoiding paying taxable income distributions.

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    Investments Mentioned

    Vanguard Tax-Exempt Bond ETF (VTEB)

    iShares 7-10 Year Treasury Bond ETF (IEF)

    JPMorgan Ultra-Short Municipal Income ETF (JMST)

    Alpha Architect 1-3 Month Box ETF (BOXX)

    F/m Compoundr U.S. Aggregate Bond ETF (CPAG)

    F/m Compoundr High Yield ETF (CPHY)

    NEOS Enhanced Income Aggregate Bond ETF (BNDI)

    NEOS Enhanced Income 1–3 Month T-Bill ETF (CSHI)

    Show Notes

    US municipal bond defaults and recoveries, 1970-2022 by Moody's Investor Service—Fidelity

    Five Reasons Municipals Have Rarely Defaulted by Matthew Norton—Bernstein

    470 Plus: Annuities Correction, Europe versus U.S. Value Stocks, Analyzing BOXX, and Accredited Investor Rules—Money for the Rest of Us

    Cboe:BOXX | Investment case—alpha architect


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    26 分
  • Money for the Rest of Us Update

    Money for the Rest of Us Update
    2025/09/24

    This week there isn’t a regular Money for the Rest of Us episode, but David shares an update on what’s happening behind the scenes. He previews an exclusive Plus member livestream on the forces shaping the next decade, explains why there won’t be a new episode next week, and highlights fresh content available on YouTube, Instagram, LinkedIn, and Substack. David also reflects on consistency, community, and the process of writing his second book. Regular episodes return in October.

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    6 分
  • Resilient Wealth in an Era of Infinite Money

    Resilient Wealth in an Era of Infinite Money
    2025/09/17

    What happens when the money supply grows too slowly or too quickly? From gold-standard deflation to QE-driven inflation and inequality, we trace the lessons of monetary history, and what we can do today to protect ourselves in an age of infinite money.

    Topics covered include:

    • How is the money supply measured, and why is it a subjective exercise
    • What is an example of a negative money shock
    • Why an optimal monetary policy would lead to deflation, and why that is a good thing
    • What causes inflation
    • How quantitative easing contributed to wealth inequality
    • What is demurrage currency
    • The unorthodox way Richard Nixon sought to combat high inflation and a strong dollar
    • How to increase our wealth in an era of infinite money


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    Show Notes

    Distribution of Household Wealth in the U.S. since 1989—The Federal Reserve

    M2 (M2SL)—FRED

    Good Versus Bad Deflation: Lesson from the Gold Standard Era by Michael D. Bordo, John Landon Lane, and Angela Redish—NBER

    Speech by Richard Nixon (15 August 1971)—CVCE

    US - Total Market Cap Divided by M2 Money Supply—MacroMicro

    Did Quantitative Easing Increase Income Inequality? by Juan Antonio Montecino and Gerald Epstein—CEPWeb

    Does Quantitative Easing Affect Inequality: Evidence from the US - Nektarios Michail

    Demurrage currency—Wikipedia

    Debt: The First 5,000 Years by David Graeber

    Related Episodes

    482: Unlocking the Power of Positive Skewness: Strategies for Investing, Business, and Creativity

    431: The Long-term Bullish Case for Gold

    336: Own What Is Real

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    26 分
  • Forests, Fakes, and the Fight for the Real

    Forests, Fakes, and the Fight for the Real
    2025/09/10

    From salmon leaping along the Vancouver Island coast to fake bands on Spotify, this episode explores the divide between the physical and digital economy, and what lumber markets, managed forests, and everyday life teach us about staying connected to the real.

    Topics covered include:

    • How timber investing works and why it is reflective of how industries evolve
    • What percent of economic output is physical versus digital, and how has that changed over the past fifty years
    • How households spend their leisure time
    • Why live events stand out in an AI-infested world
    • Does it matter if ad images, videos, and podcasts are fake?
    • Why we need to stay connected to the real


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    Show Notes

    Lumber Prices Are Flashing a Warning Sign for the U.S. Economy by Ryan Dezember—The Wall Street Journal

    Lumber Price—Trading Economics

    J.Crew used A.I. to counterfeit their own vibes—Blackbird Spylane

    American Time Use Survey Summary—U.S. Bureau of Labor Statistics

    Related Episodes

    535: Six Principles for Thriving Under Uncertainty and How Big Tech Is Doing the Opposite

    531: Will AI Wipe Out Half of White Collar Jobs or Is There an AI Bubble?

    60: Are You Hoarding Or Investing?

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    23 分
  • Why Central Banking Is So Hard and Why Fed Independence Matters

    Why Central Banking Is So Hard and Why Fed Independence Matters
    2025/08/27
    Central bankers set policy with incomplete information, unobservable targets, and constant trade-offs between growth, inflation, and employment. In this episode, we delve into how the fight for Federal Reserve independence could impact markets, interest rates, and your financial future.Topics covered include:What Federal Reserve Chair Powell said at the Fed's annual Jackson Hole SymposiumWhat is the Federal Reserve's mission statementWhy is it normal for U.S. presidents to disagree with the Federal Reserve's policy stance?Why attacking the Fed's independence is harmful and could lead to higher interest rates and a weakening dollarWhat causes inflation, and why is it difficult to know the correct level of interest ratesSponsorLinkedIn Jobs – Use this link to post your job for free on LinkedIn JobsInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow Notes2025 Statement on Longer-Run Goals and Monetary Policy Strategy—The Federal Reserve BoardTrump says U.S. interest rate is at least 3 points too high—ReutersTrump warns of economic slowdown unless Fed cuts rates, triggering selloff by Howard Schneider and Ismail Shakil—ReutersWhat is the neutral rate of interest? by Sam Boocker, Michael Ng, and David Wessel—BrookingsTrump Moves to Fire Fed’s Cook, Setting Up Historic Fight by Jonnelle Marte and Myles Miller—BloombergDifferent Types of Central Bank Insolvency and the Central Role of Seignorage by R. Reis—Semantic ScholarPowell's Econ 101: Jobs not inflation. And forget about the money supply by Howard Schneider—ReutersRelated Episodes453: The Price of Money – 700 Years of Falling, Can Interest Rates Keep Rising?312: What the Federal Reserve’s New Policies Mean For Your Finances295: Federal Reserve Insolvency and Monetizing the National Debt246: What Central Banks Don’t Know Should Concern YouSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    25 分