- Hardcover: 234 pages
- Publisher: Stratford Press; 2nd edition (April 1981)
- Language: English
- ISBN-10: 0936906049
- ISBN-13: 978-0936906041
- Product Dimensions: 8.4 x 5.9 x 1.1 inches
- Shipping Weight: 8.8 ounces
- Average Customer Review: 4.3 out of 5 stars See all reviews (19 customer reviews)
- Amazon Best Sellers Rank: #618,295 in Books (See Top 100 in Books)
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The Alpha Strategy: The Ultimate Plan of Financial Self-Defense Hardcover – April, 1981
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The remainder of the book goes into what we can do about it - how we can hope to hold on to what we have worked so hard to accumulate. This part is interesting, informative and useful. But Part I is an outstanding education on the way money works, or should work, and how inflation serves to devalue money at the hands of the federal government we elect and trust (to our financial demise). It also reveals how traditional assets (stocks bonds, etc) fail to preserve value over any extended period of time.
The "Alpha" strategy is the "first" line of defense we have against the hand of big brother. The logical extreme of this strategy would be to buy everything we need to live on for the rest of our lives in today's dollars and stockpile it all. Since not everything has a sufficient shelf life, the book offers the best compromise. This strategy may seem possibly a bit extreme but it is interesting and thought provoking none-the-less. Still, the idea is to try to stockpile the things of value, the tangible assets, in order to best preserve against the ravages of inflation resulting from the blatant and unbridled printing of money by the federal government. A must read.
First, Pugsley explains basic economics, starting with the premise that individuals work in order to improve their standard of living. With clear examples, he explains the danger of inflation (calling it "the most deadly of economic evils") and the roles that fractional-reserve banking and the Federal Reserve play in our economy.
Pugsley also argues that all government intervention into the economy causes capital to be misallocated and productivity to drop. He condemns all of it--anti-trust laws, professional licenses, subsidies, minimum wage laws, tariffs, and labor laws--but doesn't blame the government. He points out that such laws are passed because small groups of vocal constituents act in their own short-term best interest and lobby for government intervention to protect themselves from competition in the free market. The result, according to Pugsley, is that everyone else is "plundered," because they are forced by the government to pay higher prices than they otherwise would.
Arguing that conventional methods of storing wealth (stocks, bonds, etc.) simply result in more losses due to taxes, inflation, and speculation, Pugsley moves on to the subject of protecting oneself from the forces that diminish wealth. He recommends that you move your paper money into four categories of products, in the following order: education, tools, consumable products, and raw materials.
Pugsley briefly touches on education, arguing that a career makes one more productive and therefore wealthier in the long run.Read more ›
The second half of The Alpha Strategy might be the reason: like Ron Paul in Gold, Peace, and Prosperity and Gary North in How You Can Profit From the Coming Price Controls, Pugsley ended up being wrong with his dire economic predictions for the 1980s. This is understandable: no one could have possibly foreseen Paul Volcker's tight monetary policy. However, all of the same factors that led Pugsley, Paul, and North to project the implosion of the dollar and U.S. economy in 1980 are present once again, only this time, we have a much larger debt, much bigger entitlement deficits, currency competition in the form of the euro, industrial competition from China, overextended military, much greater debasement of our currency, and a president and Federal Reserve Chairman who absolutely WILL NOT do what Volcker did. Thus, The Alpha Strategy is even more timely reading today than when it was written.Read more ›
Most Recent Customer Reviews
The Silver Guru David Morgan suggested thia to me. Old book, but good suggestions. I ordered a used copy and it was nearly new. Score!Published 4 months ago by Justin Engles
This is a great book with information that is useful regardless of the economy.Published 5 months ago by kmowrer
Timeless information for protecting yourself from inflation, and why it occurs. The author presents a solid strategy for an individual to make the best use of his investment... Read morePublished 21 months ago by jerry
Much better books on this subject have been published. Don't bother with this one unless you're locked into 1972. Read morePublished on August 29, 2013 by Elliot Fried
It was interesting to read how they were already seeing the trials our monetary system are now enduring. There was a good amount of speculation mixed with harden facts. Read morePublished on May 7, 2013 by ken hart
this written 30 years ago, dated. nothing i haven't heard before. i book i had read stated it was a "best book on topic". i don't think so maybe 30 years ago it was..Published on April 20, 2013 by tinstar