You can profit from a monetary crisis
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You can profit from a monetary crisis
ESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORT You can profit from a monetary crisisTFOLIO MANAGER SINCE 1998 OF THETOCQUEVILLE GOLD FUNDPRESENTED IN 2012 BY ROGER UPTONYou CanPROFIT from a Monetary CrisisHARRY BROWNEYou CanProfit from a Monetary CrisisBy Harry BrowneFirst published in 1974Reprinted many limes sinceCopyright © 1974 by Harry Browne Copyright © 2012 (including Introd You can profit from a monetary crisisuction and Foreword) by Lipton Financial Services, Inc. and Pamela BrowneAll rights reserved according to International Law. No pa It of this book mayYou can profit from a monetary crisis
be reproduced for public or private use without the written permission of the publisher.Introduction by Publisher - Roger; Harry Browne's first book.ESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORT You can profit from a monetary crisisArthur Burns would devalue the U.S. Dollar substantially, changing the dollar's conversion rate into gold, frorr S35/OZ to perhaps S70/OZ. or even S105/OZ. This would reduce the value of the dollar relative to gold by 50% to 67%. By late 1971. Harry was proven directionally correct, but he underesti You can profit from a monetary crisismated government's willingness and ability to undermine its currency. Nixon and Burns didn't devalue by fust 50% or 67%. They eliminated the exchangeYou can profit from a monetary crisis
of dollars for gold, removing the remaining link (and discipline) established by the international Bretton Woods Agreement of 1944. The subsequent numESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORT You can profit from a monetary crisisve Board was established to control inflation, the U.S. Dollar has lost ninety five percent of its purchasing power.By 1974. when tills second book was published. Harry Browne was world famous, a New York Times best selling author, and gold had quadrupled to about S150/OZ. I was then a young Wall St You can profit from a monetary crisisreet institutional research analyst, and invited him to speak at a luncheon meeting for perhaps twenty portfolio managers. Amazingly, demand for seatsYou can profit from a monetary crisis
resulted in the rental of Carnegie Hall on the evening of June 27, 1974, with tickets selling for up to S40 (more than S200 in current dollars). The ESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORT You can profit from a monetary crisisepared to cope with currency devaluations, monetary collapse, and inflationary or even deflationary expectations...“...in Mr. Browne's lexicon gold is the only real money, while nearly every major economist would disagree."In 1974. as now. some market mavens no doubt concluded “the bell has rung!" G You can profit from a monetary crisisold had quadrupled in three years, and the limousines were lined up to hear the latest apostle. As it turned out. the gold price quadrupled again by 1You can profit from a monetary crisis
979. and peaked briefly at S850/OZ. in early 1980.I have republished this book because, in tills money manager (and part time publisher's) view, the mESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORT You can profit from a monetary crisisthere lias never been a fiat paper (i.e.unbacked) monetary system that has survived. It is just a question of time until the politicians of the day dilute the unbacked currency into oblivion.Some observers suggest that gold could enter a new bear market today, similar to that from 1980 to 2000, espe You can profit from a monetary crisiscially considering the current TV commercials praising gold and quite a few books (even some brought back from 1970 and 1974) as well. However, thereYou can profit from a monetary crisis
were good reasons for the gold price to stagnate and then decline in the 1980s and 1990s. Recall that Paul Volcker had the courage to raise the Fed FlESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORT You can profit from a monetary crisis This newfound discipline rejuvenated confidence in the U.S.Dollar, in turn reducing the urgency to own gold. In comparisoi today, the annual deficit and accumulated balance sheet debt are 15 times as large: tens of trillions oftoday’s unfunded entitlements were relatively insignificant in 1980: 2 You can profit from a monetary crisiset.al. did not need our financial support. The 2012 GDP is 6 timeobligations are many times the burden relative to the size of the economy that they wYou can profit from a monetary crisis
ere in 1980. Gold has “only” tripled, keeping pace with the change in the Consumer Price Index (understated, in 0U1 view). I am obviously in the camp ESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORT You can profit from a monetary crisiss is still crucial to economic survival and prosperity. The monetary lessons he so elegantly presented are still applicable, and always will be. He understood the basic laws of supply and demand, as well as human nature. Hany Browne loved his country, was trying to make a difference, and wished each You can profit from a monetary crisis reader only the best. I feel the same way.Last but far from least. Harry would be proud as I am to introduce John Hathaway, a giant in thè investmentYou can profit from a monetary crisis
field, who has provided the Foreword for tills publication. John’s economic understanding, foresight, and investment acumen have led the Tocqueville ESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORT You can profit from a monetary crisis. As today's money managers mi gilt put it “I wouldn't ‘fade’ Join: Hathaway in 2012”.Roger Lipton - April 2012Roger Lipton is founder of Lipton Financial Services. Inc., a money management firm based in Nev York City.2012 Foreword by John Hathaway, portfolio ma the Tocqueville Gold Fund *Harry Bro You can profit from a monetary crisiswne's simple but elegant message is that sound money makes men free. Mankind is enslaved when compensation is based solely on government scrip. FreedoYou can profit from a monetary crisis
m is impaired when producers and consumers must abide by legal tender laws which dictate the terms of exchange. Gold is the only form of money which gESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORT You can profit from a monetary crisises that Inflation is the essence of all government finance. It blurs accountability and allows politicians tc disguise the true cost of the waste they incur.Written as a guide for individuals to navigate the perils of monetary' and economic disorder of the 1970's. Harry Browne's book is a flee marke You can profit from a monetary crisist manifesto relevant to all ages. The general welfare oi society rests exclusively on the desire for economic gain by self-interested individuals. MarYou can profit from a monetary crisis
ket forces allocate resources in the optimal manner and result in the greatest prosperity possible throughout all layers of society.Government interveESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORT You can profit from a monetary crisismisallocates resources. The net effect of all government activity is detrimental to welfare. At best, government is a cost to society, incapable of generating wealth. At its worst, it impoverishes citizens by raising costs to consumers, impeding production, and creating shortages.Since production is You can profit from a monetary crisis motivated by the desire for gain, the resources utilized including materials, labor, technology, managerial and entrepreneurial, must receive in exchYou can profit from a monetary crisis
ange something which is expected to have durable value. Except in the case of barter, that something is money. Cash that is issued by governments has ESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORT You can profit from a monetary crisisntually lose vitality.Ask for the price of gold on a daily’ basis and betray your ignorance. Trade it at your peril. The acquisition and possession of gold is not a speculation on 111gher prices. The profit of which Browne speaks is the peace of mind that comes from understanding the cause of repeat You can profit from a monetary crisised financial crises and the conviction to act accordingly. Gold is a strategic component of economic freedom. These chapters will provide a glimpse ofYou can profit from a monetary crisis
that reality.ESSENTIALYOU CANprofitMONETARY CRISIS _____________BY____________ #/ NEW YORK TIMES BESTSELLING AUTHOR Harry Browne2012 FOREWARD BY JOHN HATHAWAY PORTGọi ngay
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