Dr Sam Wylie

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1,015 appearances 3 recordings 1 series first heard Dec 2021 last heard Dec 2022

Dr Sam Wylie’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Expert Economist: Inflation, HECs, buying a property & recessions · 13 Jun 2022 podcast

By the way, that's called seniorage, that value of creating new money.

When new money is created out of thin air, someone must get the value.

Well, you'll be unsurprised to know it's the federal government gets the value.

Now, when someone creates a cryptocurrency out of thin air, who gets the value?

Well, the creators of the cryptocurrency.

Now, do you think that federal governments are going to allow the creators of cryptocurrency to take away their monopoly to create new money and to control the amount of money in circulation?

So cynical old economists like me look at that and think they're just not going to put up with that.

I say that because it's related to what we were previously talking about with the supply of money and inflation, and people investing in cryptocurrencies need to bear that in mind.

They won't necessarily be put up with forever.

Okay, so other things.

So investing in shares.

Now look, inflation wouldn't really affect investing in shares so long as it flows through the system.

So if you're a company and your revenues go up by 10% because of inflation.

Let's say we had 5.1% inflation last year.

Now let's say you're Coles and the price of everything you sell goes up by 5.1% on average.

So your revenues go up by 5.1%.

And

And your costs go up by 5.1% because people are selling stuff to you at 5.1% more.

You're selling it on to consumers through your stores at 5.1% more.

Your workers are getting paid 5.1% more.

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