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Also available as: Not in United States? Choose your country's store to see books available for purchase. See if you have enough points for this item. Sign in. Michael Maloney is widely recognized as a leading expert on monetary history, economics, economic cycles investing, and precious metals. Rich Dad's Conspiracy of the Rich.
The public senses prices going up and know that something isn't right. People trade their government currency for Gold and Silver. Gold and Silver revalue themselves to account for all the currency printed. This historically affords precious metal owners massive gains in purchasing power to buy more land, real estate, stocks, businesses, etc. Recommended Reading. The Death of Money: Currency Wars: Defending the Undefendable Walter Block.
Economicss in One Lesson Henry Hazlitt.
End the Fed Ron Paul. Liberty Defined Ron Paul. Meltdown Thomas E.
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Woods Jr. The Dollar Crisis Richard Duncan. The Postcatastrophe Economy Eric Janszen. Want to Read saving…. Want to Read Currently Reading Read.
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Guide to Investing in Gold & Silver
Michael Maloney is widely recognized as a leading expert on monetary history, economics, economic cycles investing, and precious metals. Get A Copy. Kindle Edition , pages. More Details Other Editions 4. Friend Reviews. To see what your friends thought of this book, please sign up.
Lists with This Book. Community Reviews. Showing Rating details. Sort order. Jan 05, Nicholas Yorick rated it liked it. Giant Sales Pitch - SOME Accurate Info This book does bring some interesting perspectives and is certainly correct about some aspects of the financial system, however, some parts are blatantly false with no data to back up major claims.
It is clear what the authors true motivation is for writing this book.. The book acts as an educational tool which should le Giant Sales Pitch - SOME Accurate Info This book does bring some interesting perspectives and is certainly correct about some aspects of the financial system, however, some parts are blatantly false with no data to back up major claims. The book acts as an educational tool which should lead the reader to one final destination: Nice way to sell out, Mike. Great introduction into the history of money and the returning financial crisis that hits our economy every generation.
I expacted however more information about the post financial crisis and how gold and silver weathered that. The writer, who is now also a dealer, advertises himself just a bit too often. Still very interested to explore his website and take my chances on investing in precious metals. Feb 25, Massgreen rated it it was amazing. This book tries to convince its readers that precious metals such as gold and silver are true money, whereas all the "money" that we to call today, be it dollar, pound, yen or whatever, which are printed and backed by governments are actually currencies.
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Money and currency are very similar in that both are portable, durable, divisible and fungible interchangeable , but money is different from currency for the reason that it's a store of value over a long period of time, but currency isn't. Why d This book tries to convince its readers that precious metals such as gold and silver are true money, whereas all the "money" that we to call today, be it dollar, pound, yen or whatever, which are printed and backed by governments are actually currencies.
Why does currency always lose its value over a long period of time?
It's because, as history shows invariably, the creator of the currency always ended up printing unlimited amount of the currency yes, they have no discipline when given such power , causing hyper-inflation and subsequently triggering a loss of faith in the currency.
As people move out of the currency into precious metals by realizing the currency that they are holding can be printed by the authority non-stop which in effect devalues their currency but gold and silver can't be printed, we could see a massive wealth transfer from those who didn't own precious metals to those who had enough foresight to accumulate gold and silver early on.
People will rush to buy gold and silver and bid up the price. The book also criticizes the monetary system that we are forced to live in. In this flawed system, every dollar is borrowed by the government from the Fed into existence. To pay back the principal plus interest, the government has no choice but to borrow even more from the Fed, forming this vicious cycle. This is one reason we see that national debt keeps increasing because it's mathematically impossible to pay off all debt!
Guide To Investing in Gold & Silver: Protect Your Financial Future by Michael Maloney
It's surprising that the Fed is actually not a government agency, but a privately owned bank that has stockholders to whom it pays six percent annual dividends! But at the very least we know that this is not only a flawed system but a selfish and immoral one, or to use Mike's own words, Our entire monetary system is nothing but a form of legalized theft. But why is creating currency so bad? Each time the government prints a new dollar and spends it, the government gets the full purchasing power of that dollar.
But where did that purchasing power come from? It was secretly stolen from the dollars you hold. As each new dollar enters circulation it devalues all the other dollars in existence because there are now more dollars chasing the same amount of goods and services. With these knowledge, we could understand that the uptrend of the Dow is an illusion because the Fed has pumped so many more dollars into the currency supply that in the long term the price of Dow has to go up!
If we however measure the Dow against tangible assets like gold, oil, steel, grains and sugar, we could see that the Dow's value is actually plunging. We have to protect ourselves from the debasement of fiat currencies all over the world, and the solution according to Mike is to own real money, i. Mike has made a case for gold and silver being dirt cheap right now as they haven't revalued themselves fully to account for all the massive currency expansions by the governments.
And of the two precious metals, silver is ridiculously cheaper given the exchange rate between the two is 1: Gold and silver are not only wealth insurance that has been proven over thousands of years, but also the best-performing investment in today's context as Mike believes that we could either see the total demise of fiat currencies or a full revaluation of gold and silver very soon.
Whichever the case, we should know by now what to do - establish some physical gold and silver position in our portfolio. But does that mean we have to allocate all our currency into buying gold and silver? I certainly think not.