Various and sundry:
- World is shifting away from financial type to those who produce real things.
- If you know how to buy good farmland, you should.
- Daughters are learning Chinese and Spanish.
- Still an American citizen, pays taxes in America, votes in America. Hasn’t given up citizenship.
- Throughout history, you have never heard people say, “look at all those debtors. let’s emigrate there!” they say, “look at all that money. let’s go there.”
- Conventional wisdom is all they know. Nobody gets fired for losing all your money with conventional wisdom.
- He is advising a company that is buying land in Brazil to rehabilitate for farming.
- China buys over valued dollars because it’s “policy”. They got too much money too fast. But they’re starting to realize they need to change.
- The US is the largest debtor nation in the world, in the history of the world. Don’t know when the potential collapse will come. But every other money in the world is paper.
- If the US is going the way the UK went, the kids that can speak another language will have an edge on the kids that do not. It will not make them successful. But if his kids work in Chinese restaurants, they will be the maitre d’ rather than the dishwasher.
How can you be more influential? Keep doing what you are good at doing. If it’s teaching, teach. If it’s making money, do that. To thine own self be true, and people will listen to us more and more.
Things to buy – real assets:
Everything is audited. Except for Fort Knox and the Federal Reserve.
The US government has been stating for decades that we have several hundred tons of gold in Fort Knox. Now, nobody knows if it’s true. The audit, I believe was in 1953. They didn’t really do a very good audit. They didn’t sample the stuff. Remember, most of the gold in Fort Knox is from when Roosevelt confiscated everybody’s gold in the 1930’s. Much of the gold that was confiscated in the 1930s was not 99% gold, a lot of it was garbage gold. So even if those tons are in Fort Knox, I’m afraid we would find out that it’s not the purity that you have to have in the free market.
I’m afraid that may be one of the reasons they may not want to audit the gold. Because it may not be there. But suppose it is, we might find it’s not very good gold, I don’t think the Chinese would take it. I don’t think anybody would take it. I don’t think the commodities exchange would take it.
We have more hidden problems in the US than they let on.