Hidden Secrets of Money
Hi Steemers! Today I wanted to discuss the series of videos of Mike Maloney Hidden Secrets of Money, which made me consider applying certain modifications to my investment plan.
Before anything, I would like to say that this is not financial advice and I’m not a financial advisor. I'm just giving my opinion.
Of the series of videos, the one that most impressed me, is episode 4, "The Biggest Scam in The History of Mankind", in which we are explained how money is created and introduced into the system, which I didn’t know until that moment. In addition, how from our deposits the money is multiplied through the fractional reserve banking, which increases the amount of currency in the system and, therefore, increasing the prices of goods and services. All this has as a consequence that our savings and salaries are losing their purchasing power little by little.
The second episode that made me think was the number 7, "This Economic Disaster Will Happen On Trump's Watch", which explains the hyperinflation with the example of post-World War 1 Germany. Later, he goes on to talk about the theory of money illusion, which, what I understood, explains a situation in which people think of currency in nominal terms (the number that puts in the banknotes or in the bank account) rather than in real terms (they do not take into account the prices of the goods and services). Finishing in what may happen in the economy, applying what was explained during the chapter to the US economy, which honestly scared me if it happens, because it describes a catastrophic situation from the economic point of view.
It was from these videos, as I mentioned at the beginning, that made me consider investing in gold and silver as a way to protect myself in the long term from both inflation and the possible situations that may occur. Whether Mike Maloney's predictions are fulfilled during the different episodes or not, I consider it’s a good thing to dedicate a percentage of my portfolio to precious metals even if it is to protect the purchasing power of my savings.
I would like to know what is your opinion and what is the episode that you liked the most. And what do you think of the investment in precious metals?
Until next time!