Joseph Moore

And then he goes around town and he uses this money.

He says, I'll give you this kind of coinage at my barbershop and you give me food and lodging.

And within a year, this runaway slaves money is circulating through Monroe, Michigan as legal tender or valid tender to everyone else, because he's like, oh, you can always use it for a haircut.

And so after about a year, it's so trusted, he's able to start exchanging it for better gold backed dollars.

And that's how he eventually makes it to New York and freedom.

But by the way, all of his money goes to zero.

And that's one of the lessons of history is that all self-issued currencies eventually will go to zero.

So many things that we think are new, they're very old.

And many things we think are old are actually pretty recent.

Yeah, well, first I almost went broke.

So that's, you know, there's nothing.

I think it was Samuel Johnson that said there's nothing that so clarifies the mind as knowing you're to be hanged in a fortnight.

And I literally got up against the edge of bankruptcy because one of the strategies that became very popular in the 60s and 70s because inflation was taking off.

was to buy real estate with no money down.

I know your audience is not necessarily real estate investors, but I tried this and very nearly had to declare bankruptcy because as it turns out, buying real estate with no money down is very hard to pull off.

And so I was on quite the roller coaster ride there.

But eventually what happened both in real estate and with paper investments and with other things was the light that went off for me

somewhat Buffett-esque, was I need to think about this not as investments, but as a business.

I am running Me Incorporated, and I have got to treat Me Incorporated, or I actually call it Us Incorporated, because my wife, one of the biggest pieces of financial advice in history is marriage advice, believe it or not.

You would find marriage advice in young men's business manuals, and then the next chapter would be how to factor an interest rate table, right?