BelangP's book out

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Hal
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BelangP's book out

Post by Hal » Mon Apr 18, 2022 7:22 pm

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Re: BelangP's book out

Post by dualstow » Tue Apr 19, 2022 7:56 am

I really like that guy’s videos.
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Re: BelangP's book out

Post by Vil » Tue Apr 19, 2022 8:07 am

Aha, I like him too. Weird enough its part of the Kindle Unlimited, so I downloaded it already, waiting for the nights to be read ...
By weird I mean that its hardcover cost ~57 USD, paperback 30 USD, but its still a part of the unlimited program (which you can normally get for much less..). Do not complain though ;D
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Re: BelangP's book out

Post by dualstow » Tue Apr 19, 2022 8:15 am

Well, as part of Kindle Unimited, I suppose authors get a a fee that they normally wouldn’t get at all from people who find the price of the book daunting. Readers get to skip on to the next book if they don’t like the one they’re reading without comitting additional money. And Amazon gets $10/month. Everybody wins.

(i don’t have a subscription. Too many new books on the shelf, like Persians by Llewellyn—Jones).
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Re: BelangP's book out

Post by Vil » Tue Apr 19, 2022 8:54 am

Well, in the video shared kindly by Hal some of the rationale behind is explained, Paul gets 6 USD from every sold copy regardless the form, and in the case of physical media most of the amount goes for the color printing (and in the hardcover case - for the glossy paper). But its strange also that in US the book is paid even in the digital format, while in amazon.co.uk is in the unlimited program
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Re: BelangP's book out

Post by dualstow » Tue Apr 19, 2022 10:52 am

You’re saying if you’re in the U.S. Kindle Unlimited program, the book is not part of the program and you still have to buy the kindle version?

Or, for those of us not in Unlimited, yes we have to pay for the electronic book?

Btw, neither of these seem that strange to me, except that if it’s free (included) in the UK program but not the US program, it doesn’t seem fair. O0
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Re: BelangP's book out

Post by Vil » Tue Apr 19, 2022 11:39 am

dualstow wrote:
Tue Apr 19, 2022 10:52 am
except that if it’s free (included) in the UK pogram but not the US program, it doesn’t seem fair. O0
That's the case, see on below:

price.jpg
price.jpg (91.54 KiB) Viewed 2606 times
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Re: BelangP's book out

Post by dualstow » Tue Apr 19, 2022 11:42 am

Not fair. O0
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Re: BelangP's book out

Post by Hal » Thu Apr 21, 2022 8:21 am

Similar philosophy....
My notes in blue.
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PP Allocation.pdf
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BelangP allocation.pdf
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Re: BelangP's book out

Post by Jack Jones » Thu Apr 28, 2022 10:40 am

THE most important concept to understand, the one upon which the success of all wealth building strategies rests, is what money is. This will sound very odd to most people. Hasn’t this issue been settled already? No. The nature of money completely changed on August 13, 1971. Many of the conclusions which have been drawn by the financial experts regarding portfolio composition include periods of time which span this seminal date. Unfortunately this means that the conclusions drawn from such studies are incomplete at best and inaccurate at worst. Understanding what happened to the accepted definition of money and the implications of that definition is critical to building a robust plan for financial independence. There is a place in your financial plan for both fiat currency (if you don’t know the definition of this term I will define it later) and traditional money – gold (more on this in Chapter 8).
O0
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Re: BelangP's book out

Post by dualstow » Thu Apr 28, 2022 1:59 pm

Jack, remind me sometime to type in some quotes from 'Empire of Silver', arguing that there's nothing magical about the gold standard (or any metal standard), and that it wouldn't help to bring it back. I do love gold, but... a case can be made.
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Re: BelangP's book out

Post by Xan » Thu Apr 28, 2022 2:36 pm

I don't think that Jack is arguing (at least here) that the gold standard should be brought back. He's just pointing out that the nature of money changed when we left the gold standard, and that it's hard to draw conclusions from data that spans that "event horizon", particularly as it pertains to gold.
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Re: BelangP's book out

Post by dualstow » Thu Apr 28, 2022 2:38 pm

Oh yeah, but at the same time I think there are folks who long for a return to the gold standard, and I may as well lay it out somewhere. I mean, everyone picks on fiat money (myself included), "print print print", and notes that gold is finite until we synthesize it or find that asteroid.
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Re: BelangP's book out

Post by ppnewbie » Thu Apr 28, 2022 11:58 pm

The author raised the interesting concept of “money famines” when your on a gold standard. I’ve often wondered that myself. What if there is no gold.
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Re: BelangP's book out

Post by Jack Jones » Fri Apr 29, 2022 8:42 am

Xan wrote:
Thu Apr 28, 2022 2:36 pm
I don't think that Jack is arguing (at least here) that the gold standard should be brought back. He's just pointing out that the nature of money changed when we left the gold standard, and that it's hard to draw conclusions from data that spans that "event horizon", particularly as it pertains to gold.
I forgot to attribute the quote. My bad. It was from the introduction to the book:

https://evidencebasedwealth.com/?p=214
dualstow wrote:
Thu Apr 28, 2022 1:59 pm
Jack, remind me sometime to type in some quotes from 'Empire of Silver', arguing that there's nothing magical about the gold standard (or any metal standard), and that it wouldn't help to bring it back. I do love gold, but... a case can be made.
My problems with the gold standard:

The gold standard is too easy to cheat. Is there really the amount of gold in the reserve that you say there is? How sure are we that the bars are all gold?

http://tungsten-gold-plated-bar.com/

It's too expensive to settle in gold, so we end up in a paper gold system.

It's not easily divisible.

It's unrealistic to expect the federal government to willingly cede power. Change will come by individuals acting in their own self interest in a permissionless manner. This is how Christianity overtook the Roman Empire. They killed the leader, but it didn't matter because no authority is required to commune with God.
Last edited by Jack Jones on Fri Apr 29, 2022 9:17 am, edited 1 time in total.
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Re: BelangP's book out

Post by ppnewbie » Fri Apr 29, 2022 10:01 am

@jack or anyone else on this thread:

Change will come by individuals acting in their own self interest in a permissionless manner.

Anyone have opinions on what this change looks like. I was thinking some kind of commodity or asset backed peered digital currency. Maybe a basket like oil, gold, silver, grains.
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Re: BelangP's book out

Post by boglerdude » Fri Apr 29, 2022 5:52 pm

https://en.wikipedia.org/wiki/Real_bills_doctrine

What happens when Xi can instantly print money to fund a war and you cant.
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Re: BelangP's book out

Post by Jack Jones » Mon May 02, 2022 10:46 am

Jack Jones wrote:
Fri Apr 29, 2022 8:42 am
My problems with the gold standard:

...

It's unrealistic to expect the federal government to willingly cede power. Change will come by individuals acting in their own self interest in a permissionless manner. This is how Christianity overtook the Roman Empire. They killed the leader, but it didn't matter because no authority is required to commune with God.
ppnewbie wrote:
Fri Apr 29, 2022 10:01 am
@jack or anyone else on this thread:

Change will come by individuals acting in their own self interest in a permissionless manner.

Anyone have opinions on what this change looks like. I was thinking some kind of commodity or asset backed peered digital currency. Maybe a basket like oil, gold, silver, grains.
It's going to look like people exchanging their fiat currency for something that will better hold value. In third world countries, that might be $USD 100 bills under the mattress. The PP version of this is physical gold. Buying physical gold is a radical act of financial sovereignty. With no permission or appeal to authority, you can privately exchange your cash for gold with a dealer. Afterwards, nobody has to know you even own the thing. You and your heirs can pass it along, the powers at be being none the wiser.

Regarding digital currency, I think it is the new frontier of financial sovereignty, but I'm not certain enough to dump all my gold holdings. The problem w/ an asset backed peered digital currency though, is that there are still humans involved in the bookkeeping. It's the same problem w/ the gold standard I mentioned earlier, how do I know you actually have the gold that's backing your digital currency?
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Re: BelangP's book out

Post by ppnewbie » Mon May 02, 2022 11:14 am

I was thinking about a token with real value and the main thing I could come up with is an actual asset that is represents a share of an asset and is redeemable (wheat, rice, or maybe oil).
There is the counter party risk which I’m not sure how you get around.

To remove the counter party risk I think you need to go to a token that is believed to have its own inherent value like gold that you can then exchange for rice or oil. But that is an indirect link to the asset with real value (something that produces productivity, energy, something you can eat, etc, etc…).

Anyway let’s see what happens. The current system seems precarious.
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Re: BelangP's book out

Post by Jack Jones » Thu May 05, 2022 10:41 am

ppnewbie wrote:
Mon May 02, 2022 11:14 am
I was thinking about a token with real value and the main thing I could come up with is an actual asset that is represents a share of an asset and is redeemable (wheat, rice, or maybe oil).
There is the counter party risk which I’m not sure how you get around.

To remove the counter party risk I think you need to go to a token that is believed to have its own inherent value like gold that you can then exchange for rice or oil. But that is an indirect link to the asset with real value (something that produces productivity, energy, something you can eat, etc, etc…).

Anyway let’s see what happens. The current system seems precarious.
When we speak of the real value of gold, we're actually talking about the long history humans valuing it, its industrial uses, etc, right?

Why do we think real value is important? $USD have no real value, but people still want them. I guess it's the notion that if everyone stops valuing the thing, at least we can still use it for its industrial purposes? In that sense, the real value of cash is toilet paper?

I don't think real value is a very useful concept.
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Re: BelangP's book out

Post by ppnewbie » Sun May 08, 2022 12:19 pm

I don’t think gold has a significant industrial demand. It just emerged as a fungible, portable, divisible… commodity that people wanted.
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Re: BelangP's book out

Post by Kbg » Mon May 09, 2022 4:46 pm

ppnewbie wrote:
Mon May 02, 2022 11:14 am
I was thinking about a token with real value and the main thing I could come up with is an actual asset that is represents a share of an asset and is redeemable (wheat, rice, or maybe oil).
There is the counter party risk which I’m not sure how you get around.

To remove the counter party risk I think you need to go to a token that is believed to have its own inherent value like gold that you can then exchange for rice or oil. But that is an indirect link to the asset with real value (something that produces productivity, energy, something you can eat, etc, etc…).

Anyway let’s see what happens. The current system seems precarious.
These were invented quite a while ago and are known as futures contracts.
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Re: BelangP's book out

Post by dualstow » Mon May 09, 2022 5:43 pm

I think kbg is right. O0 I mean, the futures contracts don’t have a physical token of inherent “real value”, but I doubt it would mean much.
ppnewbie wrote:
Sun May 08, 2022 12:19 pm
I don’t think gold has a significant industrial demand. It just emerged as a fungible, portable, divisible… commodity that people wanted.
There’s a video on youtube from a scientist who explains how gold attained its status as the most prized element for so long.
(I see lots of similar ones right now, but haven’t found the one that I remember).
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Re: BelangP's book out

Post by Kbg » Mon May 09, 2022 5:49 pm

dualstow wrote:
Mon May 09, 2022 5:43 pm
I think kbg is right. O0 I mean, the futures contracts don’t have a physical token of inherent “real value”, but I doubt it would mean much.
ppnewbie wrote:
Sun May 08, 2022 12:19 pm
I don’t think gold has a significant industrial demand. It just emerged as a fungible, portable, divisible… commodity that people wanted.
There’s a video on youtube from a scientist who explains how gold attained its status as the most prized element for so long.
Yeah it would take a lot of Ryecrisp biscuits or puffed rice cakes to be worth much. 😀
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