WTF happened in 1971 that changed WEALTH and $

Everyone wants to be wealthy, but what does WEALTH in the 21st century even mean? I was surprised by how 'Wealth' is defined in current times. But after some thought and research - it makes sense that once we abandoned Gold Standard our understanding of money-tied-to-nothing got messier. 00:00 WTF happened in 1971? 01:06 What does Wealth mean in 2022? 01:28 The 2 criteria of Wealth 01:59 The 1776 meaning of wealth by Adam Smith 02:57 Present-day challenges of asset convertibility and transactions 03:37 How can you build wealth by converting asset form? 04:25 The power of influence and access to information 05:05 Use your most valuable assets to grow your earning potential In my pursuit to educate myself more about finance, I dive into the basics - The history of money and the meaning of Wealth in the 21st century. These two videos are kind of a mini-series or complementary to each other. Consider checking our A brief history of money here: https://youtu.be/Nv8-EvqQLFM Let me know, what did you think Wealth mean before watching this video? Or better, what does wealth mean to you? Thank you for watching! BYE