“As long as you have your wealth in the form of paper claims, you are prey to swindlers and con men, both those who work through government and those who work outside the law. Since almost all of the manipulation, subterfuge, and theft of your wealth occurs while it is in paper claims, you have a simple and obvious defense; keep your wealth in real goods instead of paper claims. The only safe, rational investment program for the average person in today’s turbulent economy is to eliminate the intermediate step. Instead of converting labor into money, money into investments, investments back into money, and money into real goods, simply stated, invest your savings in those real things that you will be consuming in the future. Save only real wealth.” – John A. Pugsley, The Alpha Strategy
The Editors’ Quote of the Day:
