A Guide to Investing in Gold and Silver
Mike Maloney
Summary
Pretty self explanatory - how to invest in gold and silver. Particularly relevant for where we are in 2022.
Rating: 4/5
Notes
Gold and silver always revalue themselves against currency
Currency is not money, gold/silver is
Fiat currency is arbitrary currency decided by governments (all currencies are fiat)
With inflation, everything gets more valuable except currency
‘The farther backward you can look, the farther forward you are likely to see’ - Churchill
Tulips, John Law, the Mississippi Bubble and Weimar Republic
During a financial bubble or crisis, wealth is not destroyed just transferred
The US Fed is a private institution that’s never been audited or has any oversight and is owned by the world’s largest banks
Bank runs and economic crises are enormous deflationary events
Roosevelt signed an executive order banning gold ownership in 1933
‘Men, it has been well said, think in herds. It will be seen that they go mad in herds while they only recover their senses slowly and one by one.’ - Charles Mckary
Price means nothing, value is everything
If all assets are going up, it means the dollar is going down
Even though asset prices are going up, the value is falling as the currency gets debased
An investor can achieve superior results during inflationary environments - buy gold and precious metals
The free market always wins: once governments dump US treasuries in the market, the dollar collapses and a world wide depression could occur
Whether deflation, inflation, stagnation or hyperinflation, gold and silver always rise
Debt can become disastrous during deflation
Debt levered real estate is a fantastic way to grow assets in hyperinflation
Gold silver ratio:
- If b/w 50-80, buy both
- If above 80, buy silver
- If below 50, buy gold
Everything happens in cycles and you won’t get reversal till the pendulum fully swings the other way
Always pay attention to P/E and gold:Dow ratio. If overvalued, buy gold. If undervalued, buy stocks
- Dow undervalued when less than 4 oz of gold
- Fair value = 6-7 oz of gold
- Overvalued when more than 10 oz of gold
Buy gold/silver now to buy real estate later
Winnings could be unbelievable if/when gold/silver properly revalues
Don’t trust the ETFs for investing, only trading
Investing in precious metals is the safest place in any environment
Never trade based only on technical analysis
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Buy the book here
Free E-book download here
Make Something Wonderful
Steve Jobs
Summary
The life of Steve Jobs in his own words
Rating: 5/5
Notes
Make something wonderful and put it out there
‘You appear, have a chance to blaze in the sky, then you disappear’
When you’re a stranger in a place, you notice thing you don’t otherwise (Jobs after India trip)
Whenever you start with nothing, always shoot for the moon. You have nothing to lose.
You never achieve what you want without falling on your face a few times
Never be afraid to fail. You never achieve what you want without falling flat on your face a few times
We are never taught to listen to our intuitions, to develop and nurture them. But if you do pay attention to these subtle insights, you can make them come true
Creativity equals connecting previously unrelated experiences and insights others don’t see
Believe that some of what you follow with your heart will come back and make your life richer. And it will. And you will gain even firmer trust on your instincts and intuitions
Make your avocation your vocation. Make what you love your work.
The journey is the reward. The reward isn’t in the pot of gold at the end of the rainbow, it’s in crossing the rainbow
To find A+ talent, if experienced, look at their track record and results
The world we know is a human creation and we can push it forward
The people who are crazy enough to think they can change the world are the ones who do (read whole ad ‘here’s to the crazy ones)
We are what we repeatedly do. Excellence then is not an act but a habit - Aristotle
Hire people better than you are
You can’t plan to meet the people who will change your life
It’s impossible to connect the dots looking forward, but they make sense looking backwards so you have to trust the dots will somehow connect in your future
Everything around you that you call life was made up by people no smarter than you
***
Buy the book here
Free E-book download here
