When I was in college, I remember studying statistics.
What fascinated me about statistics was probability theory.
Probability theory is the branch of mathematics that deals with chances of something occurring. The chances of something happening are called odds, and the study of probability is all about understanding how these odds work. Probability can be used to figure out things like how likely it is to rain tomorrow, or whether a fair coin will come up heads or tails when it’s flipped.
Probability is all around us and understanding it can help us make better decisions in life.
So, how do we calculate probability?
Basically, probability is all about counting. For example, let’s say we have a bag of ten balls: five red and five blue. If we randomly pull a ball out of the bag, what are the chances that it will be red? Well, since there are an equal number of red and blue balls in the bag, the chances are 50-50, or one in two. In other words, if we repeated this experiment many times, we would expect to see roughly half of the balls being red. Of course, in any individual experiment there is always some chance that things will turn out differently from what we expect. This is why we use probabilities: they help us account for these chances and make better predictions about what will happen in the future.
What does this mean to you?
Since 1971 the U.S. Dollar has lost 87% of its purchasing power.
For the last 51 years the dollar has lost as much as 9% to as little as 1% of its purchasing power.
These are the facts. With this kind of track record, what is the probability that the U.S. dollar loses more purchasing power next year? And the year after that? And the year after that? How does that affect your wealth?
It’s only depressing if you choose not to take action.
Go to the Head of The Class: One of our favorite teachers and purchasing power educators is Devyln Steele of Augusta Precious Metals. Harvard-trained economic analyst, he teaches people the exact way to protect their purchasing power by converting a portion of their Individual Retirement Accounts to Gold.
Don’t Gamble When You Can See the Currency Debasement Coming.
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