The Ledger, every show

“A stable coin is attached to the fiat currency. So it goes down like the fiat currency goes down, and it doesn't give an interest rate. And they're toying around with whether it gives interest rates or not, but there's not a model that I've seen. So, so far it…”

“And if you tax wealth, then people have to sell in order to get the money to pay the taxes. And that creates a dynamic that can pop a bubble.”

“What's the money ratio right now in the United States is about eight and a half to one, and so on, and when you look at it and then also then there's what it's in. The stock market is, is right now about three to one, and that's very high. If you were to go ba…”

“You look at studies of history and you find in studies of history what brings about happiness and health past a certain amount of money. Of basic subsistence life. There's no correlation between the amount of money you have and the amount of healthy happiness …”

“The government wanted to, and actually did, deliver a lot more money to people, companies, than there was a loss of income.”

“Commodities, by the way, in real terms, all commodities, every single commodity, in real terms over long decline, long periods of time have declined because of productivity.”

“Crypt is very easily taxed. You know, in other words, the government knows where it is, and who's doing what, and so on, and it's also an effective Asset to tax, but it has, you know, benefits too.”

“Yeah, I have some. Not, not nearly as much as gold. I'm, you know, that's kind of my diversifier. I try to find what are the, I have to have some, I'm, but I'm a gold guy much more than I am a Bitcoin guy.”

“Roughly, 70% of government expenditures are, you can't cut.”

“People don't think of taxes as inflation, but taxes are inflation.”

“What happened in 1938, in terms of the depression leading to the wars and so on, and the interest rates hitting zero, is the exact same thing that happened in 2008. It was because I studied that, that I, we were able to make a lot of money in the 2008 financia…”

“Acts of nature, in particular droughts, floods, and pandemics, and they killed more people, and they toppled more empires, and changed more world orders than anything”

“So, in the thirties, four major democracies, because of that dynamic, chose to be, their parliaments chose to be autocracies. That happened in Germany, Italy, Spain, and Japan.”

“India has the highest potential growth rate.”

“They've got a debt problem, they have a debt restructuring problem”

“It was before, on World War II and World War I, the United States became the richest country because of the money it made before it entered the war.”

“So if you take all those measures and so on, the gaps in those things are greater than they have ever been.”

“I think the problem of our whole system and our educational system is that it teaches you to be right, and you have a possessiveness to be right, and oh, now it's embarrassing when you're wrong, it's embarrassing when you have a weakness.”

“And I'm saying, I think in that particular case, that the AI would perform significantly worse than the human.”

“So, in other words, Let's take all of those cases and put them together, and if they're, if they have data associated with them, let's say a bubble, then you just plot the data on top of each other so you could see each one unfold, and then you can then say, w…”

“The key in embedding, I believe, is to find 15 good, they don't have to be great, Uncorrelated or low-correlated return streams, because if you have, let's say, a 60% correlation between those items that you're about, and you could have a thousand, and you're …”

“I've examined that at length, both in terms of our populations, and then I've really enjoyed working with psychologists to try to figure out, they're the pros, and doing that, and generally speaking, with a lot of hard work, you can change by about one standar…”

“Most people who think that they're open-minded have formed an opinion. That prejudices them, and that they have to get knocked off on. They're not reaching out with the worry that they might be wrong.”

“If you don't have those principles and those ways of getting through that, we will be at each other's throats.”

“The only reason we were able to anticipate it and benefit from it is because it, we felt that it was necessary to understand what had happened in the thirties and what happened before, because the same things happen over and over again.”

“Some things happen once every 75 years, particularly debt crises and those kinds of things.”

“Go to three highly believable people who are willing to disagree with each other. And hear that disagreement, and interact, and bring out that disagreement, and see where there's agreement, so that you get to the other side, so when you either have agreement, …”

“At the same time, I think it's important for the parties to try to think am I a teacher, student, or peer? Because if I'm speaking with somebody who really knows a lot more about them, something, I want to be asking more questions than I want to be sharing opi…”

“Pain plus reflection equals progress.”

“All discussions, meetings are taped and pretty much unless it's an ultra personal matter. We don't do that unless it's something proprietary. We don't do that, but when we're encountering other things most things, we let people see things, and the reason is if…”

“Radical transparency is coming at you fast anyway. Because we're now living in a world where the data that you leave about yourself all over the place is meaning that people will, you know, strangers, systems, can now examine you and know you better than peopl…”

“No, no, it's, I would say it's like a family in the next generation, right? It's now up to others to make that choice, to not be attached.”

“Rather than thinking about what our decision is, we spent more time thinking about what our criteria for making the decision is.”

“Basically, it's projected to spend about seven trillion dollars, take in about five trillion dollars, so it's running a 40% Deficit, 40% of its spending. It's been running deficits for a long time, so it has a debt that is 600%, six times the amount of money t…”

“Gold is over a period of time, a low returning asset class like cash. It'll produce, it has produced, and for logical reasons, it produces about a 1.2% a year Real return.”

“The practical aspect of real estate in terms of taxing Is because the individual owner of real estate can't take it with them. It is a very practical asset asset to tax for the government because they can always tax that and you can't take it with you versus t…”

“Mostly different act events to bet on. And I think events affect companies, but they're two different things. So I would say it'll be something to speculate on. But, and it'd be something that smart people may use as a hedging device against owning an equity. …”

“Droughts, floods, and pandemics have killed more people than wars and changed more orders.”

“Meditation has been the biggest source of success that I have. It's given me an equanimity.”

“The key spot is when the debt service becomes large, and then, like, the real red flag, the biggest red flag, is when there's then the selling of the debt beyond the new supply, but the holders of it sell it, and then you can see it in the market action, becau…”

“They own 33% of all world manufactured goods, which is more than the combined U.S. German and Japanese manufactured goods, Chinese produce more.”

“I think the basic picture in China, ah, the United States, the emergence of India, and so on, is when the world order is going to change in a very profound way.”

“So I think you're going to see, in the next downturn, another move to print money.”

“22% of the high school students in Connecticut either have dropped out of high school or are failing classes with absentee rates of greater than 25%.”

“How do I find the smartest people I know who disagree with me and are willing to disagree with each other but really care about your outcome? You learn a tremendous amount and that raises one's probability of being right.”

“When you're in a position of making an important decision, if you, maybe just after you do it, you take pause and you reflect, and you write down your criteria or your principles for doing it, you write it down, In your own mind, it creates a clarity, because …”

“Whenever you're having a disagreement with somebody, or some difficult time with somebody, pause it, And then go above it and agree. How should you be with each other? What are your protocols? What are the rules? And then once you can agree on that, then you c…”

“I contributed to the economic risk of being able to come out with a Chicken McNugget. Because it came out at a time when there was a lot of commodity price volatility, and McDonald's wanted to come out with a chicken McNugget, but they couldn't lock in a price…”