Money Philosophy

At some point in history, humans decided that gold was intrinsically valuable. And ever since then its symbolism has grown in culture to a point where the actual word 'gold' became shorthand for 'something really valuable.'

The goose that lays golden eggs.

The man who turned everything he touches into gold.

Even ancient concepts like the golden ration and golden rule.

What about today? Are things about to change? 

Religion, politics, sex and money.

Taboos are being broken down .. every day. Things we didn’t discuss before.. we’re discussing now.

Concepts we couldn’t question… we’re questioning now.

There was a time you couldn’t question God - or even the idea of God. Today people are free to think and worship whatever God they choose.

There was a time when you couldn’t question the political leader, the King, or the president. In a majority of human societies that’s gone.

What’s next? Sex? Are any sexual taboos still around today? Maybe, but they are being dismantled all the time.

There’s something different about money. I couldn’t quite put my finger on it. So I decided to have a chat with Tim.

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This conversation with Tim helped me refine my question.

And here is the question:

If a taboo is defined as something prohibited or restricted by social custom - should money be treated as a taboo?

The Limits to Growth is a study first published in 1972 based on what a research team at MIT discovered - basically saying that we have been doing nothing but growing.. and that growth is not sustainable.

The team prediced that if this growth continues there will be some kind of societal collapse.

Opponents to this prediction suggest that this is not worth worrying about because humans are not stupid. We will solve this problem through technology just like we have solved all previous problems through technology.

Tim Conley was the one who recommended this to me so now I’m gonna ask him his opinion on the topic.

You know there's a lot of talk right now about the government, the elites, those in power, doing or planning to do this thing and that thing

And no doubt there have been some bad outcomes lately … we can all easily see that just from looking around. But how much of it is caused by effective evil guys .. and how much from incompetent good guys?

The second thing I’m pondering is the fact that most people who have strong opinions are not able to argue the opposite point of view.

I wanna see if notorious government cynic Tim Conley can do that!

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Takeaways from this episode:

Me and Tim both agree that there are people with some power with some bad intentions.. 

I doubt the efficiency of those people; Tim believes that because catastrophies have happened in the past there is a chance they could happen again in the future. So there’s nothing wrong with putting yourself on the path to financial freedom in order to be in a position where you won’t be needing help from others .. and a position where you’re the one who’s doing the helping.

So far in this series we've been laying out the importance for individuals to seek personal freedom by getting rich.

Now I'd like to look at the question of getting rich QUICKLY. Is it even a good idea? If not, what is the better alternative? Getting rich slowly?

Is it better for an aspiring musician to slog their way through the local venues or to win American Idol?

Time to get Tim Conley on the phone!

I've been thinking about billionaires and the generally negative public opinion towards them.

1. Because they are rich. That's it. No further explanation beyond simple jealousy required.

2. Because of something you know they have done wrong. This one, you have to be able to articulate.

When Tim and I were discussing ideas for this podcast one of the titles we considered was ‘Millions in the Making’.

He really liked it. I didn’t.

And I couldn’t describe why. The fact that I couldn’t describe why I didn’t love the title, ‘Millions in the Making,’ had me exploring:

1. My communication skills;

I came up with all sorts of reasons and explanations. And then it occurred to me. Why not ask Tim?

So in this episode I ask him why he likes encouraging people to strive for a million dollars.

Although life mostly sucks on an individual level, it has never been better on a species level.

Is this going to make us all lazy? Will there be incentive to work?

Do we even need to think about money moving forward into a world of abundance where everything will be free?

In this episode, I ask my American friend Tim how he feels about the comfort and stability of Nordic societies. Is it possible to have a benevolent government?

Upon reviewing our conversation, I'm reminded of a few things:

1. Humans started being humans as part of smaller groups.

2. As human populations grew, they needed to figure out a way to organize themselves, which resulted in government.

3. All this external change happened quickly, while human internal mindset, and tribal instincts remained unchanged.

4. Humans solved all previous problems through technology.

5. If and when humans solve current societal problems such as violence and corruption, it will be through technology.

6. In the meantime, it's a good idea for an individual to save at least 10% annual income and allow it to compound.

A lot of experts are talking about our money systems changing and institutions collapsing. I ask Tim how worried he is and learn that he is but not for the same reasons.

In this episode we discuss:

- doom and gloom predictions

- the nature of decentralization leading the way to re-centralization

- the question of whether your money really belongs to you

- and briefly, the 'five flags theory'