Library

On this page I will attempt to catalogue decades of readings and learning. I hope you find it useful.

I really, really love reading. Actually, I think I like books more than people in some cases. I am including below books that I have learned from or continue to be motivated by. Expect this page to be built out over time.

December 2021 - Newsletter 📖 Book of the Month📖

Listen to this book for free with Audible Manias Panics Crash Book

My thoughts (Summary):

Ray Dalio did a great job in synthesizing 500 hundred plus years of history into a digestible format. For anyone thinking that the length of the book is too long--don't fret the reading level is about for a 14 year old and roughly the same as the Wall Street Journal. Thus, the book is accessible to a broad audience.

Standout Chaper:

Chapter 4 on the Changing Value of Money was particularly useful. For example, Dalio lays out the different "types of money":

1️⃣ Type 1 Money - Hard Money which is generally considered Gold or sometime Silver.

2️⃣ Type 2 Money - Fiat currency backed by a peg to hard money (i.e., gold)

3️⃣ Type 3 Money - Fiat currency backed by confidence and, in theory, the military. This is the world system today.

Key Takeaway: The world is in a Type 3 Money system spiraling towards a reset to Type 2 Money or Type 1 Money. When you remember that most of crypto is just a form of Type 3 Money as well it becomes clear why Crypto has taken off at this point in the "Big Cycle" as Dalio puts it. In short, if Type 3 Money is purely fiat or declared by an authority it is only natural that competition to that power arises since Type 3 Money has no actual backing.

Who Would Benefit From Reading this Book? Anyone who is interested in understanding where we are in the big arc of time and what these periods have looked like historically. Dalio does not discuss Crypto in this book other than minor in passing references; however, this book is about big picture macro cycles and "trying" to see what is coming next using historical analogoues.