Hello, and welcome to another episode of Passive Real Estate Investing. I'm your host, Marco Santarelli. Glad you're joining me here today. Well, we have a doozy of an episode today. I actually had a guest on that I just finished interviewing earlier today about money of all things money and the confusion around money and how there is so much illiteracy about money and currencies and what inflation is and how it Im impacts us as investors. And then what was very interesting about my conversation during this interview is the concept of money supply. And I say that in air quotes because it forced me to look at money and money supply specifically from a, a different angle, a different life, more from, you know, the demand side of the equation rather than, you know, the Federal Reserve being in the media and the news all the time, and they are responsible for the money supply and they put it into the system or take it out and, and what does that do to interest rates and mortgage rates, and how does that impact everybody, including us as investors?

So it was just a very interesting conversation with a little bit of debate, and it kind of changed my view a little bit on how I'm looking at things. So it gave me more food for thought. And, and I wanna finish reading John's book. It's called The Money Confusion. We're gonna talk about that at some length. In fact, this interview went quite long. It went for about an hour. So I'm going to break this interview up into two parts and release part one right here on this episode. And then part two, probably in a couple of days, it'll come out very shortly thereafter. But try and listen to it through to the end because I think there's a lot of interesting and somewhat insightful information in there and, and some good banter and, and debate and conversation. So I think you're going to enjoy the episode. And on that note, let's jump right in.

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If you missed our last episode, be sure to listen to Ask Marco – Choosing the Right Neighborhood, Land Trusts, Asset Protection, Investing Out-of-State, Low Down Deals

Well, it is my pleasure to welcome John Tamny to the show. John is Vice President at Freedom Works. He's the editor at Real Clear Markets great website, by the way, a senior fellow at the Market Institute and a political economy editor at Forbes. John is also the author of six books, maybe more now, but six books on economics and politics, including Popular Economics, very good book, the End of Work, and his most recent book, The Money Confusion. What a brilliant title. John, welcome to the show.

Thank you so much for having me on, Marco.

Good stuff. John, you've been around for many, many years. I've followed you on tv, I followed you on podcasts, on other people's shows. You've got great books, all kinds of great comments and content, and even op-eds. Your op-eds are fantastic. So you have a lot of content out there for people to learn more about you and what you write about and talk about. But I only had a very quick bio for you. Why don't you tell us a little bit more about yourself so people have a better understanding of who you are and what you do?

Well, probably the most important thing that I would stress is that, that I'm not an economist. I believe that economics is first grade material, that it's common sense, it's understanding human action. And I think economists have made boring what's fascinating. But I think also what they've done is they've complicated overthought what doesn't require much thought. And so my books are a rejection of economists in what they believe an embrace of just trying to understand why people do things how different things work as they do things. And, and I use, I never use charts or graph, rarely do I use percentages. It's basically pretty much all stories from, from life as we know it so that people, because my belief is that everyone knows economics ...