・Far-right political parties have risen many times around the world, and although they may bring benefits to some citizens and companies in the short term, closed policies and chauvinism have had an adverse effect on that country's economy and society in the long run. In contrast, open markets, trade, and international exchange have always brought better results to people. Few countries in history have maintained prosperity due to closure (p22)
・There is not a single country in history that has restructured its economy with a monetary policy where the central bank prints banknotes and the government buys government bonds. This is because there is a high possibility that the value of the currency will eventually drop; in fact, Japan is in such a state of depreciation of the yen. In Japan today, there are large amounts of surplus funds generated by low interest rate policies and quantitative easing, and much of this is flowing into the stock market and real estate market. Stakeholders benefit from the Bank of Japan's monetary policy, but such benefits will not last forever, and such money (free money) causes economic distortions (p30)
・The reason why stagflation, where the price of goods only rises even though the economy is stagnant, is troublesome is that it is difficult for production authorities to do anything about it. If the economy is stimulated, inflation worsens, and if inflation is tried to be suppressed, the recession becomes serious, and no matter which way it falls, there is no choice but to suffer, and it is a troublesome state for both the government and citizens (p34)
・The author has maintained a cash position since around 2023, and the next crisis will be more serious than ever, so now is the best policy not to hold stocks; it is time to hold some defensive asset such as cash or gold (p40)
・Japan has two major issues: serious population decline and huge government debt, and unless these improve dramatically, there is a high possibility that Japan will become a completely different country 50 years from now (p49)
・It goes without saying that there were concerns about global inflation, distrust of debt expansion, and doubts about currency value behind the rise in gold prices. Furthermore, expectations for interest rate cuts by the Fed are also a major factor that makes money attractive; the environment of low interest rates and low real interest rates relatively increases the value of gold and attracts local dentistry, and geopolitical risks and market uncertainty also support demand for gold (p63)
・Until a while ago, I was told to buy silver rather than gold if I were to buy from now on, but the price of silver recorded an all-time high above 50 dollars per ounce in 2025/10, and if the price drops a little more and I buy more, I would probably choose gold. This is because gold is easier to buy in many ways, but I don't feel like buying either for a while (p68)
・No matter what you do, it's important that you understand what you're doing. In order to obtain something of value, not limited to investment, knowledge and understanding is necessary first, and if you don't have it, it is wiser to store it in a bank or wallet without using it (p72)
・Liberation Day tariffs introduced by the second Trump administration were invoked by declaring a state of emergency due to trade deficits, etc. based on the 1977 International Emergency Economic Powers Act, but the court determined that the president did not have the authority to impose such a wide range of tariffs under this law. The same conclusion was reached at the appeal hearing, and it is currently being brought to the Supreme Court (p92)
・ It is impossible for anyone other than China to become a hegemonic country in the 21st century; Egypt, Rome, and England each experienced glory only once, but China is different. The rhythm of Chinese history is that it has declined many times and then always stood up again; after a long period of turmoil and division, it once again emerged as a major power a few centuries later (p111)
・If I were to look back on my investment life and go back to when I was young, I should have realized “the importance of continuing to learn” sooner, which is “noticing lack of knowledge quickly” (p141)
