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Buy a copy of The Millionaire Choice during it’s launch in the month of November, and get a 2nd copy Autographed FREE!

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It’s Book Launch Day for The Millionaire Choice!

president founderAfter working on The Millionaire Choice for over a year, it’s finally here! I’m so excited! The Millionaire Choice launches in bookstores today!

Although the book is publicly releasing today, quite a few people have already been able to read advance copies, and the reviews have been good. I’m excited about the impact The Millionaire Choice is already making in people’s lives, and this is just the beginning!

Special thanks to everyone who has supported me during this journey. I couldn’t have done it without you!

Now, it is time for the real work to begin. After 20 years of studying personal finance and working in the industry, I realized something while writing The Millionaire Choice. We’re barely scratching the surface in helping people figure out their finances. If we really want to make a difference and change the statistics, it is going to take all of us working together to share the message of hope and financial knowledge.

the fishRecently, I shared my story and vision for The Millionaire Choice on 94.1 The Fish podcast in Nashville, TN with Doug Griffin, a long time radio personality in the Nashville area. After listening to Doug on the radio for 20+ years, I thoroughly enjoyed meeting him and being on the show, but more than that, I enjoyed seeing the shine in people’s eyes as they began learning more about The Millionaire Choice and what it means to their lives.

Anything is possible when you make the right choices.

The Millionaire Choice was written to inspire and equip people to become millionaires. No, that’s not hype. With the right knowledge, resources and choices, almost anyone in America can become a millionaire.

You learn a lot bad financial habits growing up in a family that mismanages money. Fortunately, you don’t have to repeat the same mistakes. At 25, my financial habits gave me a wake up call, and I made a choice, the choice to become a millionaire.

In The Millionaire Choice, I share my story of growing up in a financially messy home, my financial wake up call at age 25 and the life and financial principles I used to change my life and become a millionaire.

At the heart of these principles are what I call the Ten Keys of the Millionaire. It is these key principles that empowered myself and my family to break free from generations of financial mismanagement, stress and struggles.

The Millionaire Choice is a guide for making the right financial choices to become a millionaire. In The Millionaire Choice, you will learn to develop your own personal millionaire plan. Millionaire or Not. You Can Choose. Read More.

Now available at Amazon, Barnes and Noble, Books A Million, Target, Wal-Mart, and wherever books are sold!

buy one get oneBuy 1, Get 1 FREE!

Buy a copy of The Millionaire Choice during it’s launch in the month of November, and get a 2nd copy Autographed FREE!

Simply buy a copy of The Millionaire Choice anywhere books are sold then send us a picture of the receipt to info@themillionairechoice.comalong with your name, address and phone number and we will send you a free autographed copy of The Millionaire Choice, FREE! (Offer limited while supplies last)

 

 

email mitchellWhat People are Saying

Reviews are coming in for The Millionaire Choice, and the response has been amazing.

“Tony has a gift for breaking down wealth building into a clear and actionable plan. The Millionaire Choice: Millionaire Or Not. You Can Choose. tackles both the numbers and the human behavior required to reach seven-figure net worth. He provides great advice in a highly personable writing style.”
JOHN MITCHELL
COO, GROOVE RINGS

Read More Reviews

 

 

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The Countdown Continues: Book Launch

The Event

This past Thursday night on November 2nd at Knowledge Academies in Antioch, a suburb of Nashville, TN, I held my first ever book launch event, the launch event for my upcoming book, The Millionaire Choice. The night was a bit rainy, but that didn’t keep people away.

Needless to say I have a lot to learn about marketing and launching books, but we still had a lot of fun at the event. From food to giveaways, we had a great evening.

We started out the evening with a bit of food including the traditional chilled shrimp, cheese and smoked salmon on crackers followed up with sandwich rolls, cheesecake, and keylime pie.

After the arrival mixer, we moved on to the preliminary program which included Art Fuller, Founder and President of Knowledge Academies, talking about some of the innovative and entrepreneurial work they are doing in the community and school. You don’t often associate innovation and entrepreneurship with schools, but that’s what Art is doing through Knowledge Academies to affect the community and equip the kids to be more successful in life. It’s one of the reasons he chose to use The Millionaire Choice as the foundation for his students financial education.

Then it was my turn in front of the audience. It doesn’t matter how many times I’m in front of a audience, I still get a bit nervous. For 20-30 minutes, I walked the audience through The Millionaire Choice and the Ten Keys of the Millionaire, the life and financial principles that helped me become a millionaire by age 40. I was delighted by the audience’s response to my material. No matter how hard you work on a product, it’s the audience and customers response that tells you if you’ve done a good job. Fortunately, I got a great response at my book launch.

I grew up in a lower income family, and on the evening of my book launch event, I was able to speak to lower income families. The hope that I saw in their eyes and smiles has made the last year an half I’ve spent working on the book worth it. I’m looking forward to seeing many more people gain a hope for their financial futures and lives.

Book Signing

Another first for the evening, I held my first ever book signing. I’ve been practicing my signature for several weeks now and I’ve finally gotten it down just in time for the event. However, I still panic that I’m going to mess up someone’s name or the words I add. I’m sure it will get easier the more I do it, but for now, I’m a bit paranoid!

The moment was surreal. People standing in line to have me sign a book. Really? Again with the eyes and the smiles. Families came through the line. Teenagers came through the line. Single moms came through the line. At that moment, I knew this group of people had a chance to change their financial futures. They have a chance to become millionaires.

The Giveaways

We wrapped up the evening with a few giveaways for door prizes although it didn’t quite go as planned.

The audience consisted of fifty percent friends and family and fifty percent Knowledge Academies families. We began the giveaways with gift cards to O’Charleys, Buca di Beppo, and Sperry’s steakhouse before ramping up to the bigger prizes. During the gift card giveaway, I felt a little guilty because one of my friends won a gift card, but I rolled with it. Then we drew for a bigger prize, a 4 day, 3 night stay at one of my beach homes on 30A in the Florida panhandle, and that’s where the problem started.

Originally, I planned to give away a 4 day stay at our beach townhouse (sleeps 10) and 4 days at our beach house (sleeps 13). Drawing for the townhouse, we hit a snag. Once again, one of my friends won the prize. Honestly, I felt a little bummed. I was hoping one of the families from the community would win it. What did I do? Well, we gave away another 4 days to the townhouse, and lo and behold, another one of my friends won that drawing as well! So what did we do? We drew again! In all, we gave away three 4 day stays at our townhouse.

Then it was time to draw for the beach house, and guess what happened. Yep. One of my good friends won the beach house drawing. We ended up giving away three 4 day stays at our beach house as well.

In all we gave away six 4 days stays at our beach properties mainly because it was really fun giving stuff away and the audience really got into it! I figured at the core of my book is building wealth to enjoy it, share it and help people in need so why not live it out by giving stuff away.

The Millionaire Choice is available for pre-order at all major booksellers and will debut in stores on November 13, 2018.

Special thanks to Meghan Cary of Megan Cary Photography for the photos!

Making an Impact on the Community

There are many wonderful people doing  work all across America and the world to impact and improve communities. People like Mark Stuart at The Hands and Feet Project helping orphans in Haiti, or Katie Davis of Amazima who has been working in Uganda, Africa since she was 18. While I admire global ministry work, there are tremendous people doing great work in our own backyards. For example in my home town of Nashville, TN, Papa Joe has been an inspiration through his Elijah’s Heart ministry to help at risk children. Heck, the guy has even had a movie made about his life! Unconditional was an amazing film sharing Joe’s Nashville story for life survival as he kept working to help children.

After years of supporting other organizations, this year I guess it’s my turn. Last year I started writing my first book, The Millionaire Choice: Millionaire or Not. You Can Choose. I finished my writing during the summer. Just a few short weeks ago, the first 2,500 books were delivered to my driveway where my wife, the delivery guy, and I managed to transport them up the drive via a dolly to a space in my garage. Just a few short days later, I made my first delivery of 1,000 books to Knowledge Academies, a charter school and group focused on improving their community.

Art Fuller, Founder and President of Knowledge Academies, selected The Millionaire Choice as their platform book to teach financial principles for building wealth to the local community. By distributing 1,000 copies to their students, families and local community Knowledge Academies plans to have a huge impact on the children, their families and the community.

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When I began writing, I never imagined the first people to read my book would be children and families from lower income areas across America. I guess it shouldn’t surprise me.

Before I began work on The Millionaire Choice, a friend sent me a statistic from CNN. The statistic shocked me, and then the realization hit me. The statistic showed that white Americans net worth was over 15x that of black and hispanic Americans. Newer data from PEW Research shows the gap to be 10x-13x.

After the shock wore off, the reality hit me. There’s a very simple reason the wealth divide between white, black and Hispanic population is so great. Financial Education. The simple fact is many more white people have access to financial education than do black or hispanic people. The next logical question is “Why?”

You see I first started learning about personal finance at the age of 25. While I came from a lower middle class family, I became a millionaire by age 40. I broke free from my family’s financial mismanagement cycle. As my career grew, I found myself working in the personal financial education space for over 15 years. As an executive for one of the top companies in the space, I was heavily involved in strategic and business planning. That’s why the reason financial education isn’t available for poor communities is so simple.

The sad reality of why financial education isn’t delivered to the black and hispanic communities is there isn’t any money to be made. Businesses can’t make money off broke people. It’s why financial advisors who know money don’t go knocking on doors in poor communities. They can’t make money. It’s why financial education speakers and companies don’t have a plan or strategy for the poor communities in America. A business is driven by making profit and you can’t make very much profit off broke people. Noone is making a real effort to bring financial education to our poor communities for the simple reason it isn’t profitable.

That’s why I’m both surprised and excited that the first real adoption of my book has come from a lower income community nestled in the corner of my home town, Nashville, TN. I hope that I am able to make a difference in the lives of a community and people that need it.

 

 

My First Book: The Millionaire Choice is Here!

The First Copies Have Arrived!

It’s hard to believe that after a little over a year of hard work the first copies of my new book have arrived! It seems very surreal. At times, I wondered if this day would ever come. Sometimes, writing a book feels like a never-ending journey.

I was a bit intimidated when I started writing in late May 2017. Would I actually be able to write a book? How do you go about writing a book? How do you publish a book? Would it turn out well? And the most intimidating question, would people even like it?

Now that I have the book in my hands and readers are starting to give me feedback, I’m pleased that all my questions have now been answered, and I like the results so far!

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Why Did I Write on This Topic?

I first took an interest in personal finance in 1996, my own personal finance. I had blown through a $39,000 income and racked up $16,000 in car and credit card debt after my first full year as a manufacturing engineer. As a math guy, those numbers didn’t add up for me, and my quest to improve my finances began.

Now, 23 years later and after working in the personal finance education industry for sixteen years, I noticed a few things. For starters, people all over our country still don’t know how to handle money correctly. Even with all the David Bachs, Tony Robbins, Dave Ramseys, Suze Ormans, and T Harv Ekers out there, people are still slipping through without a solid financial education. And it’s not just poor people. It’s everyone. People with six-figure incomes. People in poverty. People in all walks of life.

Another thing I noticed is that many people just don’t do math or finance well. Seriously, that may seem like a no-brainer but listen for a minute. Most of the money books out there are filled with “financial terms,” “financial ratios” and “financial calculations.” Financial terms, ratios, and calculations are intimidating to many people. It’s like learning to read a foreign language. It’s hard. I’ve seen this first hand when working with family members who have trouble calculating tips at restaurants. Even simple financial math can be hard. Although I didn’t set out to write my book and exclude financial jargon and formulas, it turned out that way, and I’m glad it did. One of the biggest comments I’ve gotten from my readers so far is, “I get it!”

I did set out to do a few things with this book. One, I wanted to equip people to become millionaires just like I have. Today, about 10% of American households are millionaire households. I believe that number should be much higher. I believe almost anyone can become a millionaire if they make the right choices. Two, I wanted to make it as simple as possible for people to understand how they can become millionaires. This turned into the 10 Keys of the Millionaire. And three, I wanted people to realize that becoming a millionaire is not just about money. It includes things like character, how you manage your time, learning and finding mentors. So many of the financial books today focus only on the money aspect of building wealth. Building wealth is about more than just financial formulas and investments.

So, why did I write a book on this topic? I guess it comes down to three main things: 1) people need a financial education delivered in a way they can understand it and act on it, 2) my career and life experience have been in personal finance, and 3) I felt led to do it.

I hope you’ll check out my new book, The Millionaire Choice at www.themillionairechoice.com. Due for release November 2018, available now for pre-order at Amazon.com, Barnes and Noble, and Books A Million.

Signup here for updates, tips, and help on The Millionaire Choice.

Understanding the Global Financial World

I began learning about personal finance when I was twenty-five. That’s where I’ve been focused for the past twenty years. Learning about wealth building within the US economy. Stocks, real estate, precious metals, currency trading, building your income, etc. Recently over the past two years, I’ve been spending some time reading and learning about world politics and global finance. The journey has been very eye opening.

As I’ve spent more and more time talking with people about their money, I’ve come to realize how little people really know about what is going on in the financial world both here at home in the US and in the global financial world. Things that affect the well being and futures of themselves and their families. Things that are already in motion. Are we prepared?

Take for example what is called the “dollar hegemony.” In more common terms, the dollar’s dominance as the world currency by which all other countries do business with each other. The dollar has been the dominant form of exchange for decades. It has propped up the US economy and allowed a majority Americans to enjoy a very prosperous lifestyle. However, did you know that several other countries are positioning to challenge the dollar’s dominance in global finance?

China has been acquiring gold since since at least 2009 in an effort to position the Chinese Yuan as an alternative for global trade and settlements between nations. Russia also has been acquiring gold in a bid to divest off the western banking system and alleviate risk to their economy as a result of US and western sanctions. In late 2017 and 2018, China conducted testing of their oil exchange conducted in gold backed Chinese Yuans. This article by Brookings Institution provides a glimpse into the current state of the Chinese vs. US oil markets.

This is just one example of how global financial developments will affect us as Americans.

The 2008-2009 Financial Crisis

The average American doesn’t understand what really happened during the 2008-2009 financial crisis and how it was different from previous financial crises that the United States has faced.

During previous financial crises such as those faced in the early 1900’s, 1930’s and 1940’s, insolvent banks were allowed to fail. In other words, “unhealthy” banks were allowed to fail, and “healthy” banks survived. While there were some losses to the general public as the financial system rebooted itself, the system repaired itself and continued. Bad debt was dealt with and the system healed.

In the 2008-2009 financial crisis, all banks were bailed out by the Federal Bank and ultimately the American Taxpayer. Losses were mitigated and the overall debt remained. The amount of overall global debt increased with the bailout of the banking and other financial institutions.

According to James Rickards in The Road to Ruin, the additional national and global debt load that was incurred in 2008-2009 has still not been “unwound” in 2016. It is this debt load and still accumulating debt load that will make the next financial crisis even more catastrophic to the US and global financial system.

Little Known Facts of Financial History

I’m a rather young 47 years old. I remember the gas crisis of the 1970’s where my parents waited in line for rationed gasoline, and I remember discovering that someone had siphoned the gasoline out of my parents’ cars during the evening. Now I have experienced and lived through the financial crisis of 2008-2009. However, I’ve never lived through the United States government confiscating personal property as it did during the financial crises of the 1930’s.

On April 5, 1933, less that one month after being sworn in as President of the United States, FDR put into action Executive Order 6102 requiring with limited exceptions that all gold held by U.S. citizens be surrendered to the U.S. Treasury. Oh, and let’s not leave out the fact that any citizen that failed to comply would be met with imprisonment.

So this begs the question, “will the government confiscate assets again during a future financial crises?”

Is Your Interest Piqued?

You may be asking how all this may affect your financial future? I don’t have all the answers, but I’m searching.

The financial elites control the global and national financial systems. It’s all connected through the IMF (International Monetary Fund) and other entities. By looking into the past and learning about the global financial world, you get a glimpse into what the future will hold during any future financial crises. It is much better to be prepared than unprepared during a financial crisis. One of our many mistakes is to believe the illusion that everything will continue in a healthy and stable fashion. History shows us that financial instability is a norm of the financial system, but many of us live our lives as if the “party” will never end.

If you’d like to learn more about the global financial world, check out James Rickards The Death of Money and The Road to Ruin to get you started.

 

 

 

Finally! New Book Cover is Finished!

I never realized how hard it would be to write and finish a book when I started in May 2017, but finally, it’s done! The book copy is done. The cover is done. Now it is prepping for print!

Truly writing a book is the project that never seems to end. It seems like things just keep coming up to do or redo that keep you from finishing the job. Thankfully, I had some good friends and professional support in my editor, Anna Floit of The Peacock Quill, and my publisher, Morgan James Publishing. I can’t imaging trying to write a book on your own without some help!

During my writing, it was fun to hear about the different ways people write books. Some plan books out for years. Some just start writing. Some come up with an outline and then get to work. After writing my first book, I believe there’s not a right or wrong way to write a book. There’s just the way that you do it, and that is one of the things that makes it special. For my book, I crafted an outline using the chapters. After coming up with a list of chapters I wanted to write, I thought about what I wanted to include in each chapter. Some of the original chapters didn’t make the final cut. I’ll probably include them in another book someday.

I was very apprehensive after finishing the first draft in early July 2017. That’s when it was time for phase 2, get feedback from one of my very close friends. I gave him my book in early July 2017. When August arrived, it was time to touch base with him again to see what he thought. The anticipation of what he might say was nerve wracking! Did he like it? Would he think it was bad? What if he told me to throw it in the trash and start over? I vaguely recall the conversation, but one part of our discussion I remember very well. I asked him, “Is it worth writing?” He answered, “Yes. You’ve got a lot of work to do, but it’s worth writing.” His reply was all I needed to keep going on my book. Just that little boost of affirmation gave me the energy and confidence I needed to keep moving forward.

It’s been thirteen months since our conversation, and finally the book is done. Soon it will be heading to the printers. It seems so surreal.

The Book Wrap

This particular week I’m very excited because the book’s wrap has been completed. The book wrap includes the front cover, the binding, and the back cover. This is one of the last steps of production before the book is ready for the bookstores. With each completed step, I can feel the reality of my first published book and with it, the hope and excitement of being able to help people with it’s financial teaching.

The book cover process was pretty straightforward for me, and I was very happy that the publisher liked my cover concepts. I’ve heard many horror stories about publishers not really doing a good job on book covers for the authors and the authors not being satisfied with their covers. In my case, I’m very happy. I was able to present a mockup to the publisher and they quickly came back with several covers to review. After several revisions and tweaks, we ended up with a finished cover. The book wrap, binding and back cover, needed to wait until all of the writing was finalized so that we knew the page count of the book. This week, the final version came back, and well, see what you think. Comments welcome!

I present to you the book wrap for The Millionaire Choice, Millionaire or Not. You Can Choose.

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Announcing My First Book: The Millionaire Choice

It’s been just over a year since I start writing my first book. Officially, I began writing Wednesday evening, May 24, 2017 while sitting on my apartment patio overlooking the mountains in Salt Lake City. It was an inspiring view. Perhaps I was a little ambitious since I wanted to have it finished and printed by December 31, 2017. I tend to be a little optimistic and naive at times.

While I planned to write a book at some point in my life, I didn’t plan on doing it now at age 47. However, looking back over the past year, it was the perfect time. I recently left a premier job where I worked for 15 years ending my career at the executive level. I then took a brief 1 year break to buy some real estate and explore some new opportunities. When May 2017 rolled around, the timing just felt right, and our family was in a good financial spot. And with that setting, I began formulating a plan for my book, a book about money and helping people shape their financial future.

Writing the Book

I’ve been a student of personal finance since I was 25. Studying and working in the financial industry for 20 years led me to write a book on personal finance. Not much of a surprise since my expertise is in the personal finance space.

As I continued thinking about the money problems people are facing, I really wanted to come up with a way to turn the personal finance industry upside down. There are a lot of people doing great work, but it still seems like we’re barely scratching the surface in financial literacy and education. About 10% of American households are millionaire households. That means 90% of households have a net worth of less that one million dollars. In simpler terms, there are roughly 110 million American households and about 10 million millionaire households according the the US Census. However, that doesn’t tell the whole story. Many Americans net worth is far less than one million dollars. In fact, many Americans net worth is less than $100,000. I think that is terribly sad.

After wrestling through various titles, I landed on The Millionaire Choice: Millionaire or Not. You Can Choose. I believe becoming a millionaire is a choice. Whether or not we become millionaires is based on the life and financial choices we make.

As I began writing the evening of Wednesday, May 24, 2017, I felt compelled to write with urgency. During an overnight layover in Denver on my Friday evening flight home to Nashville, I spoke with my wife about the book and the progress I was making. Somewhere during the conversation, the idea of completing the book in 30 days came up. At the time, that seemed like an impossible task considering our work and family circumstances. However, occasionally circumstances change and amazing can things happen.  In June 2017, I penned 60,000 words and completed 90% of the book’s first draft. Yea. I was shocked too!

Now one year later and after several revisions, multiple reviews by friends, family and other professionals, the manuscript for my first book is finished and off to the publisher. I never imagined writing a book was so difficult!

Inside the Book

In The Millionaire Choice, I share my story of growing up in a financially messy home where money struggles were common and a lack of good financial knowledge and habits reigned. At age 25, I began to change.

I was 25 years old when I realized I was headed into a financial disaster if I didn’t change, so I began studying money. After about 90 days, I realized that I could become a millionaire by the time I turned 40…if I made the right financial choices. That was when I made what I call The Millionaire Choice and formed my own personal millionaire plan, my plan to become a millionaire. Hence the purpose and goal of my book, The Millionaire Choice. To inspire and help people become millionaires regardless of their family background or financial circumstances.

The backbone of The Millionaire Choice are the 10 Keys of the Millionaire, the 10 principles that helped me to break my family’s generational cycle of financial mismanagement and become a millionaire by age 40.

For now, it’s available now for pre-order on Barnes and Noble, Amazon, Books-A-Million and other bookstores. The official store date is November 13, 2018. You can learn more about my upcoming book at themillionairechoice.com.

My Inspiration for Writing The Millionaire Choice

During my time in the financial world, working for two different personal financial education, and talking with people, I learned a few things that both saddened and challenged me.

I realized that there are entire segments and people groups in our country that aren’t receiving the financial training and education they need. Why? The reason is simple. They don’t have money. Businesses can’t make money off of broke people, and so very little effort is being made to help the people who need financial education the most. I don’t have all the answers, but I hope that I can make some small difference to help those in need of financial help and education.

I’m excited to be able to help people get their finances in order. Although our family has been able to break the cycle of financial mismanagement, so many of the people I meet are not there yet. They need guidance, help and encouragement.

In time, I really would like to find a way to turn the personal financial education industry upside down to help all those who need and want it. It’s not just about a book or making money. It’s about making a difference in the lives of others, transforming families, and changing the world.

 

 

Silver and Gold. An Interesting Scoop.

I have to admit that I’ve never been big on gold or silver investments. Historically, the stock market has been a much better investment over the long haul that silver or gold, but there are times when silver and gold make sense in your investment portfolio. Let’s take a look.

According to Wikipedia from 1970 to 2010, gold’s growth was 3,792% while the Dow Jones Industrial average was 1,280%. That makes gold look like a very good investment tool! However, from 1975 to 2010, the Dow Jones outperformed gold 1,259% to 929%, and depending on the day, gold is actually down around 7% from it’s $1,410 value in 2010. Gold peaked around $1,800 in January 2011. Now trading around $1,300, that represents a 27% decline in value.

Now what about silver? In 1970, silver was valued at $1.63 per ounce. In 2010, silver’s valuation had grown to $20.19, a 1,138% gain per Wikipedia. Those numbers however, only tell part of the story. In January 2011, silver’s value peaked near $50 per ounce. Today, silver’s valuation fluctuates around $17 per ounce. That’s nearly a 65% decline in value from it peak in 2011! But still, if you had purchased at just the right time, silver would still be a viable investment tool, and you may have benefited from it.

As a savvy investor, investing in silver or gold appears to be an inferior investment tool compared to the S&P or the Dow Jones. However, there are times when silver or gold do make sense in an investment portfolio, and if you are looking deep enough for the right signs, you may just be able to benefit from buying some silver and gold. Perhaps one of those is upon us now.

Sometimes the best investment decision is to follow the leaders. In this case, the leaders are some very well known players in the financial world. Let’s start with Russia and China. Russia and China have both been acquiring gold at the state level as they both move away from US Dollar holdings, according to Bloomberg.com. You can see the aggressive acquisition of gold by both Russia and China with the Official International Gold Holdings.

Another major player to watch is JP Morgan Bank which has aggressively been acquiring silver since 2010 and now holds the largest ever quantity of silver reserves in history. In 2014, this article at the Market Oracle was published related to JP Morgan’s acquisition of silver naming them as the largest silver holder in history. It is estimated that JP Morgan may be sitting on as much as 700 million ounces of silver. So you have to ask why? Considering silver is down 65% from it’s high in 2011, JP Morgan stands to make a bundle as the prices return, but you may do well to think that they may know something that we do not.

The last indicator is to see what billionaire investors are doing like Warren Buffett. In recent years, we’ve seen Buffett buying up infrastructure and energy. Another way to look at this is that he is buying up transportation of goods and oil, which is a commodity similar to silver and gold. Buffet has in the past been a silver buyer himself to hedge against market collapses when he acquired 129 million ounces of silver and held it from 1998 to 2006.

So while I’m not an avid gold and silver buyer myself, the signs are all around us that power players are preparing for something, and we would be wise to pay attention.

Primer on how to buy silver

Tips on buying gold

Great silver and gold vendor

 

Danger. Economic Turmoil Ahead. Be Prepared.

I’m going out on a bit of a limb here to highlight some financial stuff and economic signs that aren’t being covered in the news, but I think it’s necessary. As I bring this stuff up with people in my circles, they are unaware. These things are happening around us, and many people are going to be caught off guard.

The Economic Signs

Last year, I read one of Jim Rickards’ books called the Death of Money. Jim is a former financial analyst for the CIA along with many other qualifications. While Jim included quite a bit of useful information, there were a couple of things that really stood out to me.

  1. Jim highlighted that America came off the gold standard in the early 1970s. That is when our money ceased to backed by gold or any “asset.” However, Jim also highlighted that Russia and China have been working to accumulate gold. I’ll speak more on this later.
  2. In the early 1970s, the US dollar was setup to be the “World Reserve Currency” by an agreement with OPEC to price oil in USD. That has helped to cement the United States as the world power that it is. It is what has allowed America to impose sanctions to such “wayward nations” as we saw fit…mainly to strong arm America’s or the western countries enemies.
  3. Since the Bush administration and more specifically during the Obama administration, have accumulated mountains of debt. In additions to this debt, the US Government and Federal reserve have printed trillions of dollars. This has served to greatly destabilize the value of the USD. Interestingly enough, we have not fully seen the repercussions of this yet which will be mass inflation.

The Death of Money was published in 2014; I read it in 2017. In the book, Jim made several projections which are now coming true.

  1. Russia and China are accumulating gold for the purpose of challenging the USD as the world reserve currency. Without adding too much detail, it is estimated that the top four gold holding entities are 1) the European Union with 8,500 tons, 2) the US with 6,500 tons, 3) China reported 4,500 tons (estimated to be much more), and 4) Russia with 1,500 tons.
  2. China along with Russia would provide an alternative for international trade by allowing oil to be traded with the Yuan, now a gold backed currency.

Normally, projections like this get forgotten over time, however, both of these projections have now come true. In early 2018, China opened oil trading based on the Yuan (Bloomberg.com) thus challenging the Petro Dollar as the only world reserve currency. Iran, Venezuela and other countries are beginning to use the Yuan for international commerce as well. Other news sources covered it as well, RT.com

Cementing the challenge to the US Petro Dollar, Russia is in talks with Saudi Arabia about production agreements that could last 10-20 years. Reuters.com Now this may actually be a good thing as oil and gas prices would stabilize over longer periods of time allowing the world economy to experience less volatility on several levels.

The other big piece of information I have for you is a series of articles related to JP Morgan Chase Bank. In 2011, JP Morgan Chase began acquiring silver. Lots of it. On the books, they’ve acquired 150+million ounces of silver. Unknown, it’s estimated they may have acquired as many as 500 million ounces of silver. By the numbers, that’s about 5,000 tons and $2.5 billion in silver or it could be 15,600 tons and $8.2 billion.

So now you have Russia, China, and JP Morgan Chase all acquiring huge amounts of precious metals (silver and gold) beginning around 2009. You have to ask, “who else might be acquiring large amounts of precious metals? Why?

In reading Jim Rickards’ book about the coming economic collapse and the death of money, he made projections that have now come true, and now we see JP Morgan Chase following one of Jim’s recommendations to protect wealth. Coincidence? I don’t think so.

Okay. So What Now?

So what should we do? I wish I had all the right answers, but I don’t. What I can do though is continue to learn and prepare as best I can.

  • I’ve recently purchased Jim’s latest book, Road to Ruin and I’m eager to see what other nuggets he has for me.
  • Don’t hold too much cash. Inflation causes your cash to lose value. During hyper inflations cycles, it loses value fast.
  • Buy some silver. How To.
  • Buy some gold. How To.
  • Stick with solid financial principles. Pay off your debts. Don’t waste your money.
  • Don’t be too heavy in stocks. Economic turmoil could cut the stock market by 1/3 to 1/2. Diversify your wealth to protect yourself.

Historically, I’m not a silver or gold buyer, but now I am. Gold and silver have not been great investments when compared to the S&P, real estate or other investment options. However, during an economic upheaval, you’re not looking for investment returns. You are looking for financial stability and protection. Gold and silver have been present in the global financial system for over 3,000 years. The USD has existed for a little over 200 years which exceeds the lifespan of typical fiat currencies which is about 27 years.