MONEY TIPS I WISH SOMEBODY TOLD ME EARLIER - Clueless Conversation #5 

"This is far outside my understanding but feels so important." - Audience in this whole series of podcast.

I know how much Sapan earns. I am also his brother.

Q. Why do comedians make more sense then anyone else..? A: ... becoz they are honest.

Finally, somewhere I can share my "gyaan." FYI, inflation occurs for one reason, and one reason only. It is **expansion of the money supply**. Rising prices are a symptom of inflation, not the cause. If your temperature rose, you don't have a fever. You have a fever, that is why your temperature rose. It is an important distinction to understand. Inflation does not happen because the economy is growing; it does not happen because wealth is growing. If the economy grew and the money supply was constant, prices would fall. And that is normal. Rising prices are not normal, but we've been living with it for so long that it feels like it is. How does the money supply expand? Government! Since money is debt-based (I know, what?), the govt can issue new money when needed. Whenever they issue new money, they steal a little purchasing power from all the existing currency, which debases the currency, and that is what causes inflation. Just think about it, if the govt is issuing a package of 20 lakh crore, where do you think the money will come from? The govt might have reserves, but a lot of it will come from inflation, which means the government will create new money out of thin air. I wish I could do that. The US Dollar is the world's reserve currency, and not too long ago, it was pegged to gold. This arrangement was known as the **gold standard**. You could literally walk into a bank with USD and exchange it with gold, the amount of which was fixed. Yes, that time, the price of gold was fixed, and it didn't fluctuate like it does today. The gold standard ensured that the overall supply of USD was limited to the amount of gold that existed (or mined). Since all the world's currencies are pegged to the US dollar (even today), this kept every currency in check. On 15th August 1971, President Nixon took the US off the gold standard (to fund a war, of all reasons), and thus begun the systematic destruction of the value of currencies around the world. Since the governments had gotten a free hand, they debased their currencies with no end in sight. The countries that over-did this experienced hyperinflation. A recent example would be Zimbabwe, but it has happened in many other countries. Fun fact, Zimbabwe had so much inflation that the prices doubled every 8 hours. In the end, they had to issue a 100 Trillion Dollar (Zimbabwe dollars). For perspective, the world GDP in 2017 was around 80 Trillion Dollars (USD). And that 100 Trillion Dollars still wouldn't buy a loaf of bread. TL;DR: The government causes inflation. It is not necessary. It is not a result of a growing economy. It is actually quite the opposite. Thanks for listening to my TED talk. PS: Governments are fully aware of the fact that they cause inflation. Don't believe me? Just look at the size of your coins. Coins have 2 values. Melt value and face value. Melt value is the value of the metal that was used to forge the coin. The face value is what it says the value is. If melt value > face value, then people could melt the coins and sell the metal at a profit (which is illegal). To stop this from happening, the melt value has to be kept < face value, always. So if you notice a new coin which is thinner and lighter than the previous version (just look at Rs 5 and Rs 10 coins), you should know that the government is planning to introduce inflation in the economy. If you want to learn more about inflation, Google "Mises Institute Inflation book". It is pretty insightful. Me, out. Yes, I'm an economics geek.

Tanmay is being a father to the bot army and giving financial education to them. Thanks Daddy!

"This is so far outside my understanding but feels so important" -Me in 10th standard choosing between Science, Commerce & Arts

I personally don't talk about money with random people or even distant relatives or friends is because people take money as a very generalistic way of judging someone's worth in all aspects including how smart, hardworking, intellectual, skilful that person is. Which is not really fair. Because it depends on a lot of other factors such as demand of that particular skill, people not knowing how to negotiate, the place where you're located like even if i get a 30% hike on my salary it would be compromising on my lifestyle if I move from Bangalore to Mumbai. There are a lot of other factors too. I actually know good friends who are making lesser money than me but are equally if not more talented in their skillset. Money is just a very binary measure to judge someone (unless you're an IAS ).

Tanmay's genuine concern for our youth should be appreciated. I'll not be surprised seeing stand-up comedians entering politics in near future.

"just like money, relationships compound over time"

The corporate part was so needed!! Women actually dont talk about money at all.

I'm 23 and I have zero Savings in my bank account and of course no stable job. I just don't have guts to be independent Artists without being unsure about future... I have ideas but I don't know how to implement it. Yup I'm just a another broke with a architecture degree.

This is genuinely amazing. I would love to watch longer episodes like actual podcast type projects.

Negotiation power of employees has been ruined due to corona.

Hey Tanmay you are not only good at making people laugh but also at making informative videos..... Nice podcast!!!

To simply describe Tanmay I would say "Intellectually humorous"

Honest criticism: I think this would work so much better in a 1:1 format. Right now it just looks like everyone is trying to get a joke in for each time they speak and the entertainment value is being focused on more than the educational. I'm not sure if comedians are the best choices for an educational talk about money. I really want this thing to work. I've followed Tanmay for the past 7 years. Which is why I care for this comment to recah someone within their team.

Fun fact: Today morning had a meeting with my manager regarding my expectations vs what i got in April 2020 as appraisal. A little background when i was fighting for the designation i have been handling the responsibility for and yet have not been reflected on papers, things got a little ugly. When i shared my concerns with my family, my father was like “you should never ask” “this is the era of snatchers and that is what you are doing right now” his words and attitude of-course effected me even though i know better than that at my age. Back to today’s convo with my manager i told him my reduced bracket of expectations. I was pissed at my self afterwards bcz i valued my self low. Thank you Tanmay this is very relatable, the advice that you give of talking to your friends, your peers about money is very important. The conversation about money is not suppose to be felt wrong or awkward but it is what our upbringing in a conservative middle class has tough us. Sorry for the long post 😝 Incident was of today, felt like sharing.

Thanks Tanmay. This is really relatable stuff. May your friendships and money compound exponentially in a way you understand.

Gaurang should have a RU-vid channel of his own explaining basics of finance and giving tip and tricks to people who are new in this area. I’d love to listen to him talk about it. If he already has a channel doing it, please share the link to it.

This ended too quickly.. I wanted to hear more money stories! I could listen to Tanmay talk all day honestly!!

great job man! love your work

Thanks tanmay! i am absolutely loving this channel. I'm learning many things which I should have been learning since school! I really appreciate you making these videos!

It was entertaining, insightful and full of wisdom at the same time. Loved it

Tanmay bro, this series is so refreshing and cool!

Thanks tanmay bhaiya for bringing some clues in our clueless lives through these podcasts.(coz im 20 and like literally clueless about this stuff)

Tanmay i just wanna thank you. Thank you for having these conversations for audiences. Much love!

Dudeeee......you are just killing it in this new segment...!!!!;....I mean I am a person who is usually involved in money matters but still some dialogues are thought provoking!🔥🔥🔥🔥❤️

Thanks Tanmay it really helped me in a lot of ways . I was wasting tym watching streams never noticed urs this work .it made me clear about my money . I m too young to watch this but i m thankful i am watching this . I always knew u as a comedian . But ur advices are helping alot to me . Hopefully i will make my progress at such a level that i can meet u some day.

Its mother of irony that they made jokes on our economy without knowing what is inflation.

A much needed talk, how I wish I had heard this sooner Very relevant and to the point

That women story is so true.. yes we need to change and talk about appraisal when we are working the same as any other person.. let's stop being embarassed to ask for our own money

Love this series!

Best series ever, keep guiding us.

It's really helping! Please keep it up.

The episodes are getting magnificent as more and more are coming.

Wooh !! Never expected such sensible content from Tanmay !!! Great bruh !!!

I really love this series I want more of these episodes

As someone who has just started working, I really like listening to these podcasts. I made it an effort to make myself financially literate before uni ended, and start investing as soon as the salary starts. So now that I am earning, it is nice to see people my age have questions similar to the ones I had (or still have), and get advice on it which is applicable. PS: Only one bad habit with money: sneakers (I am sure Tanmay will relate).

It is great to see someone talking about liitle things which we all go through but not talk.

Amazing as always 😍

13:20 So true. These discussions may have been done in news channels but Tanmay is presenting them in such an interesting manner.👍

Love those episodes tanmay. Keep it up ❤️

This is helping me soooo much on a serious note.

So part of the reason why we don't talk about money outside an extremely tight-knit set of friends or family is because of how our society has been conditioned to think about money. Aunties and uncles and their conditioned kids judge a person's worth by how much money they make. I understand that there's some correlation between one's experience, education and earning potential at a particular level of employment. But beyond that, to use money as a yardstick for one's actual character and latent skills is inherently incorrect, and does a disservice to your broader idea of being more open about monetary conversations.

Tanmay, i could speak for me and a lot of viewers that by just watching these episodes makes us feel so accomplished and makes us feel that yeah we did something productive today by watching Tanmay talking and adding values to our lives. I guess this counts as a big complement for a content creator. ❤️

Really loved this ep.. Thank u all!

BRO LOVE YOU BRO FOR MAKING SUCH TOPICS SO LIGHT TO HANDLE

Tanmay, a small request- Please lower the intro volume.. hum earphones vaale behre hojayenge nahi toh

This is a very good discussion. It's informal and informative. Good work

Thoroughly enjoying this podcast series

This podcast series is priceless. 🔥♥️

Keep doing this. This is important.

These videos need to be atleast 20-30 mins long. Really enjoying these episodes

YOU WILL NEVER BE ABLE TO IMAGINE HOW MUCH I CRAVE CLUELESS! PLEASE RELEASE BIGGER EPISODES, PLEAAASEEE!!!

This is much needed topic for podcast.

that's close to being "honestly" to the core but a great thumbs up !!! Close because no "numbers" or even a broad range came out. Even the best of corporates or popular CEOs / Management are "Pure Evil" when it comes to talking salaries, forget being honest about sharing.

Irony : watching this after becoming unemployed.

Great podcast guys.

They are talking about frankly speaking on money, without disclosing their own incomes.

Favorite series on this channel

tanmay bhai aap jo kaam kar rahe ho na. Thank you so much . Waiting for more episodes 💯❤️

This one was great!!

These videos are so interesting to watch .. especially for a person like me who has just completed education and is about to start earning...laughs are a bonus

The fact that even people who don't earn or have money are watching and appreciating this, is a testament to how crucial and required such type of knowledge was and will be!

Thank you so much Tanmay, your Clueless videos are so informative and helpful for the future. 🙏🙏🙏🙏🙏🙏🙏

This is Pure GOLD

superb concept sir of talking about money

*Thank you Tanmay sir for giving us this kind of financial knowledge*

I would just love these podcasts to be a bit longer

thanks for making this show. it feels good that i have the same amt of Knowledge as these famous artists. also srsly very good good

good content. keep it coming.

The best podcast ❤️

Thumbnail......editing goals🔥

I'M SO THANKFUL TO YOU FOR SHARING THIS! WHY ARE WE NOT TAUGHT THESE IN SCHOOL? PS - If you're into self improvement, I'd love to get your feedback on my channel, because I'm working hard to bring quality content to help people. Thank you. God bless you 😇

Great pod

Best podcast about negotiation power without putting extra emotional side of the story.

This series is amazing and Gaurang Bhaiya is ❤✌🏼

Lovely, keep it up....

Me need the full episodes on audio platforms...

thanks man

Love u tanmay🙏🏻

Clueless couldn't come at a better time for me. I am about to start my career soon (I hope xD). An amazing segment, fantastic thought! Kudos!

great content brother, this new channel is really doing great job in improving awareness about money. hope you will continue reaching heights. keep it up! i am also in my small way trying to create awareness around the same subject through my channel and hopefully more of us will keep learning from each other. kudos to u!

Hi Tanmay - really good podcast. I wish you do like a 0.5 hr podcast. There are people in the world who really require advice on how to handle money and I think podcasts like these would really help:)

True : just like money relationship compound over time

Just like money Relationship compound over time ♥️

Awesome show

That thumbnail 😀😀 yeh daikilo ka hath🤣🤣

More videos needed

Wonderful show

I like how Naval is now coming into pop culture.

I LOVEE THIS!!!!!!!!!

Tanmay "OP" among the student...Thanks for making them understand the importance of finance!!! Cheers!

Thank you for making me sleepy

Nice I really like this podcast

I wish these videos were uploaded before my pre boards

Intro ❣❣

Guy's lets name it as a honest financial broadcast.

Good and genuine content, very interesting. Do like a 100000 podcasts please.

Absolutely brilliant idea! Poke that bear!! People should be more aware and freely coversing about Money among several other prudent things!