"What Is Money, and How Can I Accumulate It?" (A Free Article)
A site member posted a question on money.
Understanding cash/money In //www.garynorth.com/members/11022.cfm you mentioned Brewster's Millions and how the uncle wanted to help his nephew understand money. Then you noted that the guy who made $4 billion understands money.I'd like to understand money better. I'm not at a "101" level, but don't feel like I'm out of the undergraduate program either.
It's easy to say that anyone with lots of money understands it, but how can I increase my understanding? Where's a good place to start and then move on to higher levels? And is my bottom line the true measure of whether I understand it or not?
What does it mean to "understand money," especially in a practical sense? I only see the phrase applied to those who have lots of it or success gurus teaching that you need to understand it to get it and keep it. Are we talking savings, time-value of money, investing, tax strategies, etc., or is there a more theoretical/esoteric/spiritual side to it?
What would you say are the best books/resources on understanding money?
Begin with the classic book by Murray Rothbard, What Has Government Done to Our Money? Download it for free. http://mises.org/money.asp
Then read my book, Mises on Money. Download it for free here: http://mises.org/document/6772/Mises-on-Money
Then read my book, Honest Money. Download it for free. http://mises.org/document/5221/Honest-Money
These three books will get you started.
If you are in debt, I have a free site on how to get out: www.DeliveranceFromDebt.com.
Richard Russell's article on compounding, "Rich Man, Poor Man," has been reprinted (stolen) by those of us in the newsletter business for decades. It is here.
What about practical tips on spending money? If you act fast enough, you can get a used copy of John Schaub's little classic, Buying Right. It is out of print. I will ask John if he will let me make a PDF and post it on this site for free for members. I think he will. He is the moderator of this site's real estate forum.
His book on real estate is a must: Building Real Estate Wealth in a Changing Market is indispensable. Buy it here.
Mark Skousen's book, The New Scrooge Investing, is a good place to start to understand conventional investing. It's here.
Then there is entrepreneurship. This TED speech is terrific. It is what Gary North's Specific Answers is all about.