Warren Buffett’s Recent Explanation of How Money Now Works Is the Most Important in History
The value of the money you have is changing. “Debt” and what it means is fundamentally changing.
Watching Warren Buffett completely change what he believes about money in a matter of months has been fascinating.
He is considered the most successful investor in history, so he’s worth listening to when financial markets enter a strange period that nobody understands or can properly explain (even if, like me, you don’t love everything he says).
These two lines from Warren made me think:
“The [US] debt isn’t going to be repaid; it’s going to be refunded.”
“You better own something other than debt.”
Buffett explains that when the government can just keep on printing money to pay their own debt it’s laughable to think they will ever default. He says, “The trick [for countries] is to keep borrowing in your own currency.”
So if money will keep being printed out of thin air then what does that mean for your investments, assets and savings? Let’s explore the topic in simplistic terms and see what you can do about it.
