Money is essentially a database for resource allocation, serving as a medium for exchanging goods and services and enabling time-shifting of transactions, but it has no inherent power or value on its own—the actual economy consists of goods and services, not money itself.
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Elon Musk Explains What Money REALLY Is | #elonmusk #finance #tesla #spacex #wealth #shortsAdded:
People get [music] confused. They sometimes they think an economy is money. Money is a database for uh exchange [music] of goods and services and for time shifting the exchange of goods and services. That's It's a Money is a database. Money does not have power in and of itself.
Um like you can run the thought experiment of you're you're trapped on a you know, a remote [music] island a shipwrecked on an island um and you've got a trillion dollars in a Swiss [music] bank account.
It's worthless. You'd rather have a can of soup.
So, you know, with all the Bitcoin in the world, you're still going to starve.
>> [laughter] >> So, uh the actual economy is goods and services.
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