Book Blurb:
“Yes, I’ve found a flaw. I don’t know how significant or permanent it is a flaw in the model that I perceive as the critical functioning structure that defines how the world works.”
~Dr. Alan Greenspan, Former Federal Reserve Chairman, Congressional testimony October 23, 2008
In his 2008 testimony, Greenspan noted a flaw in the economic model he previously thought defined how the world works. Greenspan was referring to the ability of banks and markets to regulate themselves an ideology he admitted went wrong with the 2008 economic meltdown.
In his first book, The Critical Flaw: How to profit and protect wealth in history’s greatest opportunity, Dr. Alan P. Chan is using this Greenspan quote to assert his belief that the “critical flaw” presents a great investment opportunity. Dr. Chan makes a very solid case that physical gold and silver, rather than traditional currency, will be part of an enormous wealth transfer system and that those who recognize the potential shift will benefit.
With a straightforward, accessible writing style that conveys his obvious passion for the topic, Dr. Chan articulates important points of economic theory without becoming too abstract. He covers topics like inflation, quantitative easing, the “fiscal cliff”, and the global debt crisis with clarity and purpose.
As an experienced precious metals trader, the author has a unique perspective from the inside. In presenting research and evidence of money’s shaky foundation as an economic driver, Dr. Chan’s insight is enthralling.
Well-argued and ultimately quite persuasive, Dr. Chan’s comprehensive guide to precious-metals investment will spark discussion about current economic models and the gold standard’s return. When the next financial crisis hits, readers of The Critical Flaw will have all the information they need to be ready.
Author Interview
Dr. Alan Chan, Pharm.D is an entrepreneur, recently published author and a soon-to-be father. After receiving his doctorate in Pharmacy from University of the Pacific, he was involved in start-ups, real estate and private investments. When his real estate portfolio lost seventy-five percent of its value during the financial crisis in 2008, Dr. Chan learned firsthand how dangerous these bubbles can be. In trying to recover from that major setback, he became an advocate of wealth protection in the form of precious metals. Subsequent years spent researching the financial system and macroeconomics resulted in his theories, which act as a wake-up call to those with concerns about more bubbles in the future. His comprehensive research is now available worldwide under his first published book, “The Critical Flaw: How to profit and protect wealth in history’s greatest opportunity”.
1. Hello Dr. Chan! What inspired you to start your business?
Briefly, love, family and financial freedom. I strongly believe that we all want our loved ones to succeed and be able to protect them from any threats and potential harm. Prior to starting a business, I have visited many financial advisers and life insurance companies and most of their plans and products were built on assumptions, which made me quite uncomfortable. Due to my determination and positive attitude, I then decided to start my entrepreneurial journey by deploying my vision, my skills and my objectives in order to meet financial freedom.
2. Tell us a bit about your company/companies.
Among other businesses, I would like to emphasize on my latest activity, which is, as I like to call it, ‘author-preneurship’. Based on my entrepreneurial story and on the challenges I overcame, I decided to publish my first book, “The Critical Flaw”. Why? Well, My mission with The Critical Flaw is to bring awareness to the general public and expose the seriously flawed foundations that our financial future is based on as well as how our current situation is getting worse. My goal is also to educate public on how we can protect ourselves and even profit through the flaw in our own system in which we all have taken for granted.
I had my share of tasting the bubbles, so I would like to spare others from this ‘opportunity’. Therefore, I encourage everybody to read my book as it provides valuable insights on the US economic system and on the manners in which we can protect our assets against the next potential financial crisis. Also, for further economic know-how, you can check my blog at www.thecriticalflaw.com, where I post on a weekly basis interesting facts regarding the economy.
3. We know that you have been investing in precious metals since 2006. What was it that sparked your interest in investing, economics, and more specifically, precious metals?
The financial crisis caused by massive economic bubbles in 2008 left my business and real estate portfolio wounded, having lost then around 75% of it. That was the moment I found out and realized that most people are not aware of the flaws of our financial system or are not aware of the implications it will have on their portfolio.
Bubble is a term that is tossed around by the politicians and media with almost little meaning. Experts often explain too much money rushing into a speculative investment causes economic bubbles. Although that is partially the answer, it does not explain why these bubbles get exponentially larger and more lethal. The goal of The Critical Flaw is to explain the fundamental mechanism of macroeconomics that we all take for granted showing with historic evidence why and how this have happened many times over in the course of human history and in addition, show you a way in how to profit and protect yourself from the next massive bubble burst. The short and simple answer: precious metals. They have always been the choice of a true free market when fiat money destabilizes the economy throughout human history.
As a result, I’ve enrolled on a mission with the goal to increase awareness of the global unsustainable macroeconomic forces and help concerned individuals take action today before an increasingly likely currency crisis occurs once again.
4. What 5 secret gems of advice would you give a new entrepreneur?
- Know what you want. -> It is highly important to know what your objective is because when you’ll encounter a challenge -and for sure everybody who owns a business had their shares of challenges- you’ll find your motivation by recalling that unique call-to-action which actually drove you on being an entrepreneur.
- Know why you want what you want. -> Another goal for success is to know WHY you are doing what you are doing; we all ought our own reasons, but you to be aware of your personal motives.
- Plan how you want it. -> You never go to war without a battle plan, right?
- Stick to it & keep at it.
- Always ask “How?” -> We are humans and we make mistakes. If you are an entrepreneur, you are not spared of mistakes and you don’t know absolutely everything there is to know. But, you have people around you who can teach you by sharing their mistakes and their learning points. You should take advantage of the valuable human resource you have around you: family, friends, and fellow entrepreneurs.
5. Thank you for speaking with us, Dr. Chan. If you could leave your readers with one bit of wisdom, what would you want it to be?
I would like to say to my readers that “Everything is possible! Just do it!” Stop procrastinating and follow your dreams. With passion, determination and a clear objective, everybody has the ability to reach success as long as they strive for excellence. And my last bit of wisdom, they should definitely read my book in order to make informed business decisions which will pave their road to excellence in business and success. I do make a lot of points there!
Author Bio:
Dr. Alan Chan, has been a precious metals investor since 2006. After receiving his doctorate in Pharmacy from University of the Pacific, he was involved in start-ups, real estate and private investments.
After the real estate bubble in September 2008 knocked around 75% off his heavily leveraged real estate portfolio and essentially wiped out his pre-construction projects, he was back to square one.
In late 2008, during financial planning due diligence for starting a family with his fiancé (a former Morgan Stanley financial adviser), he discovered the critical flaw in our global financial system and how it causes bubbles and stock market crashes. Since then, Dr. Chan has spent over 4 years researching our financial system and macroeconomics.
“The Critical Flaw” focuses specifically on the role our monetary policies have played in bringing about the current and future economic tragedies. Most importantly, he has discovered a saving grace: how gold and silver can help us profit and protect ourselves.
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