Thanks for the kind words. First comes the curiosity and asking why what you're doing isn't working and why many things in the world, the financial world in particular, seem upside down (those who save money lose, and those who get into good debt, can get rich). I'd then encourage people to look into the work of Mike Maloney (Hidden Secrets of Money) here on UA-cam as a good starting point. The path will reveal itself as you ask the right questions and start looking sincerely.
Most people don’t understand assets, FIAT currency and capital growth, so it’s good to hear it here. Most people will complain about landlords, the cost of living and have a victim mind-hood, but these will be flotsam and self made victims.
The truth is people prefer to pretend that they can't change their situation becuase its less work. Yeah the system isn;t fair but we are still extremely lucky to live in the UK and if you really want to be wealthy the info is out there for free, its just a case of effort for 95% of people.
@ I completely agree. I’ve traveled all over on business and seen abject poverty in places you wouldn’t expect. The U.K. isn’t perfect, but it’s still a rich place with plenty of benefits and opportunities
The only way new money can be created is by someone borrowing it. Every single pound, every single penny only exists because someone originally borrowed it. When someone puts money in a savings account for a year that money is used by the bank to create even more money out of thin air in loans and mortgages. The interest the bank collects on those loans is used to pay for the running of that bank, pay its staff and what is left after profit is paid to the saver. Inflation is built into the system. It is unavoidable.
What most consider ‘money’ isn’t money, it’s currency/cash; big difference. I’ll do a deeper video on this, but the more you learn the more you realise you need to learn, which is the paradox of knowledge.
@@thealexhickman The government creates the money through government bonds. It is how they pay for everything. Taxes raised helps cancel out the bonds and pay the holders interest. In an ideal world private banking shouldn't exist.
I came to the exact same conclusions 6 years ago. Studied Bitcoin for 100 hours. Put all of my savings into Bitcoin. I'm planning to retire next year. The best time to buy Bitcoin was a few years ago. The next best time is now.
Good Video Alex, Borrowing money to invest is good until its not what I mean is that if we see interest rates rise globally (Yes it is possible under certain scenarios) continually asset prices will drop and those having high debt burdens will get burned big time because they borrowed to invest , I do agree for now yes its a good trade but try and watch your debt ratio and always prepare incase things change.
I've been lazy with my cash. I am starting to hold too much. But now the prices of BTC and Gold are so high! I'm now waiting for the price to go down a bit and then buy a lot. I'm also thinking about starting a business.
The Hidden Secrets Of Money series by Mike Maloney for this context in particular. And then buy a boat load of self-development, philosophy, psychology and spirituality books that should blast your mind wide open. You’ll probably start your own business or find a more wholesome living as a consequence.
How did you get started? How did you buy your first house? They not exactly cheap. At least £60 to £80 grand. Did you just decide to go to a bank and say I want to buy a house lend me the money? With that asset? You make what you did sound like something that anyone can do. I think the bank would laugh at me if I asked for around £100 grand to buy a house and couldn't provide proof of income or anything to secure the mortgage against. Technically speaking the bank commits fraud by lending you money secured against an asset you don't own yet.
Most bridging lenders and many buy to let (unregulated) lenders will lend on the strength of the asset, and not necessarily personal income levels. My first house was in 2013, I borrowed 75% from a buy to let lender and 25% from a family member. I did the house up, rented it, remortgaged it, and paid the family member back.
People give you a hard time about bitcoin?? That's so weird to me now because Iv'e just been in a crypto echo chamber for about 5 years, are normal people not aware that there is a bill being proposed for bitcoin to be held in the U.S. treasury?? It's 100% theyre keeping the 200k btc they already have (this was seized bitcoin, mostly from Silk Road) and in the bill it states they would like to acquire another 800k over a 5 year period, they are talking about selling part of the gold reserve to do it too!!
Financial literacy is first step too Financial freedom
You sound like an intelligent man who understands how the money game works. Did you read any books or anything to gain this knowledge?
Thanks for the kind words. First comes the curiosity and asking why what you're doing isn't working and why many things in the world, the financial world in particular, seem upside down (those who save money lose, and those who get into good debt, can get rich). I'd then encourage people to look into the work of Mike Maloney (Hidden Secrets of Money) here on UA-cam as a good starting point. The path will reveal itself as you ask the right questions and start looking sincerely.
@@thealexhickman Thank you for this reply. Plenty to think about.
Most people don’t understand assets, FIAT currency and capital growth, so it’s good to hear it here. Most people will complain about landlords, the cost of living and have a victim mind-hood, but these will be flotsam and self made victims.
The truth is people prefer to pretend that they can't change their situation becuase its less work. Yeah the system isn;t fair but we are still extremely lucky to live in the UK and if you really want to be wealthy the info is out there for free, its just a case of effort for 95% of people.
@ I completely agree. I’ve traveled all over on business and seen abject poverty in places you wouldn’t expect. The U.K. isn’t perfect, but it’s still a rich place with plenty of benefits and opportunities
The only way new money can be created is by someone borrowing it. Every single pound, every single penny only exists because someone originally borrowed it.
When someone puts money in a savings account for a year that money is used by the bank to create even more money out of thin air in loans and mortgages. The interest the bank collects on those loans is used to pay for the running of that bank, pay its staff and what is left after profit is paid to the saver. Inflation is built into the system. It is unavoidable.
What most consider ‘money’ isn’t money, it’s currency/cash; big difference. I’ll do a deeper video on this, but the more you learn the more you realise you need to learn, which is the paradox of knowledge.
@@thealexhickman The government creates the money through government bonds. It is how they pay for everything. Taxes raised helps cancel out the bonds and pay the holders interest.
In an ideal world private banking shouldn't exist.
I came to the exact same conclusions 6 years ago. Studied Bitcoin for 100 hours. Put all of my savings into Bitcoin. I'm planning to retire next year.
The best time to buy Bitcoin was a few years ago. The next best time is now.
Good Video Alex, Borrowing money to invest is good until its not what I mean is that if we see interest rates rise globally (Yes it is possible under certain scenarios) continually asset prices will drop and those having high debt burdens will get burned big time because they borrowed to invest , I do agree for now yes its a good trade but try and watch your debt ratio and always prepare incase things change.
What percentage of your portfolio is in cash?
Very little.
where can i learn the game tho??? thanks
There is information everywhere. I often suggest Mike Maloney's Hidden Secrets Of Money series
I've been lazy with my cash. I am starting to hold too much. But now the prices of BTC and Gold are so high! I'm now waiting for the price to go down a bit and then buy a lot. I'm also thinking about starting a business.
you might miss out if you wait
I remember thinking the same about BTC when it was $3500
where do you reckon people should start?
The Hidden Secrets Of Money series by Mike Maloney for this context in particular.
And then buy a boat load of self-development, philosophy, psychology and spirituality books that should blast your mind wide open.
You’ll probably start your own business or find a more wholesome living as a consequence.
How did you get started? How did you buy your first house? They not exactly cheap. At least £60 to £80 grand. Did you just decide to go to a bank and say I want to buy a house lend me the money? With that asset? You make what you did sound like something that anyone can do. I think the bank would laugh at me if I asked for around £100 grand to buy a house and couldn't provide proof of income or anything to secure the mortgage against. Technically speaking the bank commits fraud by lending you money secured against an asset you don't own yet.
Most bridging lenders and many buy to let (unregulated) lenders will lend on the strength of the asset, and not necessarily personal income levels.
My first house was in 2013, I borrowed 75% from a buy to let lender and 25% from a family member. I did the house up, rented it, remortgaged it, and paid the family member back.
XRP finally making big moves 🎉
Bag of nails
People give you a hard time about bitcoin?? That's so weird to me now because Iv'e just been in a crypto echo chamber for about 5 years, are normal people not aware that there is a bill being proposed for bitcoin to be held in the U.S. treasury?? It's 100% theyre keeping the 200k btc they already have (this was seized bitcoin, mostly from Silk Road) and in the bill it states they would like to acquire another 800k over a 5 year period, they are talking about selling part of the gold reserve to do it too!!
I agree with you.
Buy bitcoin, 40% a year since it's inception
bitcoin
buy some BTC
Been buying since 2017
You will be happy and own nothing .
Klaus Schwab the bond villain