Why you should act now to protect yourself against the coming destruction of your money
The significant amount of money printed in the last couple of months by nearly all developed countries will certainly change the economic outlook in the coming months. Many have described this period as the greatest reset in our history — a time when we will witness a great transfer of wealth.
Canada, the US, and many countries around the world are printing trillions of dollars out of thin air. This will create inequality as those that are knowledgeable and those that foresee what is coming will be better prepared to profit, while those that are unprepared will be the biggest losers.
To prepare for the coming economic reset, I’m arming myself with knowledge and that’s why I’m now reading these two books. And I strongly encourage you to get copies of these books and do the same so you can protect your wealth and potentially position yourself to come out of it better off than the majority.
Here are the two books I’m currently reading and some additional information about the books:
Book # 1 — The Bitcoin Standard by Saifedean Ammous
While this book is aimed at helping the reader understand Bitcoin, the author writes, “In order to understand Bitcoin, one must first understand money, and to understand money, there is no alternative to the study of the function and history of money”. The following on the back cover of the book summarizes the essence of this book:
“In The Bitcoin Standard, economist Saifedean Ammous walks readers through the fascinating history of the technologies of money and explores what gave these technologies their monetary role, how they lost it, what that teaches us about the desirable features of money, and how Bitcoin is designed to improve on these technologies.
Ammous elucidates the economic, social, cultural, and political benefits of sound money over unsound money to allow for an informed discussion of the potential role Bitcoin could play in the digital economy of the future.
Rather than as a currency for criminals or a cheap mass consumer payment network, this book argues Bitcoin is emerging as a decentralized, politically neutral, free-market alternative to national central banks, with potentially enormous implications for individual freedom and prosperity. For anyone looking for a clear understanding of this new digital money, The Bitcoin Standard is the essential resource.”
It’s a fascinating read as I’m learning a few things about money I never really knew. The two characteristics of money — the salability of money and the hardness of money that he discussed early in the book is an eye-opener to me. These two concepts alone will help you make wise decisions on how you store your money.
Book # 2 — The Great Devaluation by Adam Baratta
I don’t quite recall how I stumbled onto this book. But I remember spending hours one morning when I landed on a page with a special report by Adam Baratta where he laid out a fascinating discussion on inflation and the upcoming monetary reset. At the time, he was still writing this book so I placed an advance order for the book which just arrived in the mail last week. The following narrative in the back cover of the book sets the stage for what to expect from this book:
“In 2008, the world economy suffered through the Housing Crisis which wiped out nearly $10 trillion in global asset value. In response, the Federal Reserve created Quantitative Easing, and added $3.5 trillion to their balance sheet over the next seven years. In March of 2020, we had a crisis and the Federal Reserve added another $3.5 trillion to their balance sheet, only this time they did it in a matter of seven weeks!
The real crisis facing the world today is not the Coronavirus. The real crisis facing the world is explosive government debt and deficits. Governments are now left with no choice but to spend more than they make, borrow more than they can ever repay, and devalue their currencies to cover it all up.
What happens when central banks lose control of the monetary system? We don’t have to speculate — The Great Depression of the 1930s tells us everything we need to know about what to expect in case of a financial collapse. The problem is, very few people understand just how close we really are to repeating this slice of history. All the warning signs are there — asset bubbles, explosive debt, social inequality, and political tensions, to name a few. And yet, we have been able to look the other way, potentially to our peril — until now.
In The Great Devaluation: How to Embrace, Prepare, and Profit from the Coming Global Monetary Reset, national bestselling author and leading gold investment strategist Adam Baratta shines a spotlight on the state of the monetary system and the Federal Reserve. Baratta brings a fresh and engaging perspective to a topic that investors urgently need to understand. He tells the story of how the Federal Reserve grew to be the secretive, ultra-powerful institution it is today, and how its tactics have resulted in an economy that is on its last, wobbly legs.
Although it isn’t easy to open our eyes to the imminent reality of economic collapse, it will be well worth the pain. Baratta reveals the history-proven strategies that we can use to insure ourselves against the coming collapse, recession, and depression. No matter what we do, the system is in trouble. The U.S. Dollar is in trouble. The Fed is in trouble. So, why not benefit by consciously pivoting our investments, our business practices, and our society? George Santayana famously said, ‘Those that forget history are doomed to repeat it.’ The Great Devaluation is a history lesson that offers readers a road map for what to expect and how to profit during the next decade.
P.S. I am on a mission to arm you with financial education. That’s one reason I started writing on medium and that’s why I wrote Tax-Efficient Wealth. This book will help you accelerate your wealth in a tax-efficient way. Grab a FREE eBook version of my new book, Tax-Efficient Wealth, to learn how you can build wealth quickly using strategies that will save you a ton in taxes.