I have been following Greg now through u-tube, twitter and his excellent newsletter for about 2 years now. When I started following him I had limited knowledge on investing. I now trade in options, (he gave me the courage to learn and dip my toe in the water) I mostly follow his trades. Of course I make money in doing so! When I heard about his book I purchased immediately knowing that it would help me learn even more. I especially got a new perspective on his options section of the book. If anyone is serious about learning the market, you need to buy this book. You need to support this man's work. The price of the book is peanuts compared to what he has given me over the course of two years and the content of the book is well written. Thank you Greg for all you do and I look forward to trading with you again in 2021.
I agree and just got the book, and appreciate Greg's experience and wisdom. But I am not so sure about the thesis that the US Dollar is going to be undone soon, more than likely disinflation & deflation here for the next 1/2yr or two, and there will be good opportunity to buy gold much lower. Anyway, Greg remains one of my top advisors as I learn.
That is a foolish statement. Surely you understand that the national debt is not money "in circulation." The 2.02 trillion is what is being spent on goods and services. It's the volume of the coolant in your engine to keep it from seizing, whereas the debt is the volume of the overflow tank. The contents of the overflow tank are as good as what is circulating, but it doesn't do much.
I think Greg's point is that most money is digital. You can't physically possess it which means you don't control it. ATMs can be turned off, your card can be disabled. Banks can close. You might not even be allowed to travel to a bank (lockdowns). Are you prepared for this situation? Do you have cash on hand? Do you have physical assets?
That might be how you wanted to read it, but he made no references to preparation or availability of cash. Instead, he's talking about the debt not existing.
Interesting facts about paper "money"...thanks. It's interesting to read Federal Reserve Note on the paper bills, people read it and thinks it's money when in fact written in English it's a debt instrument. A note is a debt issued by the Central Bank. Took me a long time to realize that. Thanks Gregory for your work and education!
People who have survived economic destruction in places such as Argentina, Iraq, etc., report that having physical currency, even if it is fiat, is very important for survival in the first 6-12 months of crisis periods. Same for natural disasters over a shorter time period.
I have been following Greg now through u-tube, twitter and his excellent newsletter for about 2 years now. When I started following him I had limited knowledge on investing. I now trade in options, (he gave me the courage to learn and dip my toe in the water) I mostly follow his trades. Of course I make money in doing so! When I heard about his book I purchased immediately knowing that it would help me learn even more. I especially got a new perspective on his options section of the book. If anyone is serious about learning the market, you need to buy this book. You need to support this man's work. The price of the book is peanuts compared to what he has given me over the course of two years and the content of the book is well written. Thank you Greg for all you do and I look forward to trading with you again in 2021.
I agree and just got the book, and appreciate Greg's experience and wisdom. But I am not so sure about the thesis that the US Dollar is going to be undone soon, more than likely disinflation & deflation here for the next 1/2yr or two, and there will be good opportunity to buy gold much lower. Anyway, Greg remains one of my top advisors as I learn.
https://www.wsj.com/articles/king-dollar-is-abdicating-and-thats-ok-11609326180
Perception is reality: money never did exist. We believed in the construct therefore it worked.
Most of this resides outside the United States. As long as foreigners want our dollars, the inflation will remain at bay.
Wouldn't this be deflationary, this kinda validates Jeff Snyder's view that qe isn't inflationary. I've got a pretty good dollar exposure hedge.
I posted this here Greg because LULU encountered problems and would not allow me to post book is incredible
Does money have to be printed or exist in some form to be owed?
That is a foolish statement. Surely you understand that the national debt is not money "in circulation." The 2.02 trillion is what is being spent on goods and services. It's the volume of the coolant in your engine to keep it from seizing, whereas the debt is the volume of the overflow tank. The contents of the overflow tank are as good as what is circulating, but it doesn't do much.
I think Greg's point is that most money is digital. You can't physically possess it which means you don't control it. ATMs can be turned off, your card can be disabled. Banks can close. You might not even be allowed to travel to a bank (lockdowns). Are you prepared for this situation? Do you have cash on hand? Do you have physical assets?
That might be how you wanted to read it, but he made no references to preparation or availability of cash. Instead, he's talking about the debt not existing.
Interesting facts about paper "money"...thanks. It's interesting to read Federal Reserve Note on the paper bills, people read it and thinks it's money when in fact written in English it's a debt instrument. A note is a debt issued by the Central Bank. Took me a long time to realize that. Thanks Gregory for your work and education!
What ever happened to our fractional reserves? haha
phantom digital dollar
Federal Reserve NOTES. Just the paper funny money.
People who have survived economic destruction in places such as Argentina, Iraq, etc., report that having physical currency, even if it is fiat, is very important for survival in the first 6-12 months of crisis periods. Same for natural disasters over a shorter time period.