This is the one — and ONLY — rule of wealth generation

Rule #1: You must know the difference between an asset and a liability.

Then buy or create assets.

If you want to be rich, this is all you need to know.

This is rule #1, it is the only rule.

This may sound absurdly simple, but most people have no idea how profound this rule is.

Most people struggle financially because they do not know the difference between an asset and a liability.

An asset puts money IN your pocket. A liability takes money OUT of your pocket.

Here’s a question for you…

Is the home in which you live an asset or a liability?

In my view, your house is a liability. Even if you own the property with no mortgage, you still pay property taxes, utilities, insurance, maintenance, etc. Therefore: money is being taken out of your pocket.

Once you understand this simple rule… all you have to do is follow it to gain wealth.

To your wealth building,

Albert X Ariho

Comments

First of all is the Fed.

Every week we talk about inflation calming down. This week there is a hint that maybe December’s interest hike might only be a 50 basis point move as opposed to the expected 75 basis point move. This is why you’ll hear markets “cheer, everything is still going up. They're seeing an end in sight to these interest hikes. This is important because if one can reasonably assume the interest rate peak is going to be in February, then they can start deploying their funds accordingly.

Why you should believe in Bitcoin 2023

Here is why we think Bitcoin is making a comeback SOON! So, you better get ready. Bitcoin is about to make the “geniuses” at the Federal Reserve look, well…. Stupid. Bitcoin is “halving” and there is a great chance this could be a major spike in the asset's price. But you need to be an early adopter to grab this opportunity. What is halving? It’s what makes the dollar look ridiculous! While the Federal Reserve an d Treasury are printing more money and devaluing the dollar, Bitcoin is doing the opposite. Bitcoin is making it twice as hard to mine and thus slowing down the number of Bitcoin in the world. Bitcoin is making itself more valuable. Take lessons Powell, you might learn something! To learn more about halving and profit from it, Don’t be a Powell, ILLBERTIC

ConsenSy/MetaMask

The other big thing this week was ConsenSys. ConsenSy owns MetaMask and they use Infura, which is a API that interfaces with the Ethereum blockchain. They're going to start collecting your location/IP data. And what is a controversy here is the question “does this mean crypto is no longer anonymous?” So what we'll do is kind of post some alternatives on MetaMask and different RPCs. So RPC is just how do you communicate with Ethereum essentially and the API to Ethereum. And basically, we can give you a few alternatives. And you could also VPN, and I think it also solves a problem. We’ll post those in our monthly “State of Crypto” Newsletter coming out later today. Okay. Now, let's move on.

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