How Money REALLY Works

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Welcome to The Race Rat Podcast! The purpose of this podcast is to inspire others to create whatever it is that they want to create in their life and how to learn to achieve that through financial knowledge. I want to inspire others to push through the mental barriers that come with entrepreneurship or pushing themselves past their comfort zones. in particular I want to focus on younger Generations and teach them that time is their best friend in this process. if you want to increase your financial knowledge and find ways to push your mind to places you've never seen before subscribe to the podcast!

In this particular introduction episode we explore how many actually works. In the beginning we will discuss how fractional reserve banking works in the US economy. How banks need to keep a certain percentage of their revenue in a fractional reserve and how because of that they are able to create money out of thin air. Next we will discuss how Richard Nixon taking the US dollar off of the gold standard lead to rates of inflation because it was no longer backed by a certain value. We briefly go over assets and liabilities and will be discussed more in episode 3. And finally we discuss how some of the wealthiest people in the world like Jeff Bezos, Donald Trump, and Ray Kroc are able to avoid paying taxes legally and how you can too.

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