Gold Bug Profile: Mike Maloney

JP Buntinx
May 6, 2020

Various people around the world have expressed strong opinions on gold and other precious metals. Mike Maloney can be called a bold bug in this regard, as he has built up a solid reputation in the finance industry.

Who is Mike Maloney? 

Most gold bugs gain early exposure to the inner workings of the financial sector prior to exposing themselves to different assets. Mike Maloney falls into this category, as he has been active in various segments of finance at an early age.

Not only is he the founder of Michael Maloney & Associates, but he also manufactured high-end stereo equipment – and won multiple awards for doing so. Furthermore, he is also  hosting the Hidden Secrets of Money video series, author of Guide to Investing in Gold and Silver, and is the founder of GoldSilver.com.

One of the awards Maloney won for his high-end stereo equipment landed him a permanent exhibit at the Royal Victoria & Albert Museum’s 20th century design wing. Given how there are only five permanent exhibits in this design wing, it goes to show that Maloney was on the right track in terms of manufacturing.

Mike Maloney in Finance

The “real start” to his financial career took place in 1999. His family’s estate was managed by a professional financial planner, but things went awry fairly quickly. The family investment portfolio tanked significantly for two years in a row, eventually forcing Maloney to take care of business himself.

By actively educating himself on investing and different assets, he quickly gained an appetite for precious metals. One of Mike’s passions pertains to global economics and monetary history. 

It did not take long before he noticed the overall occurrence of cycles in financial markets. Every so often, the same market patterns come back, allowing educated traders and speculators to make a lot of money in the process. 

More importantly, his expertise led him to gold and silver. Back in 2002, both of these assets were severely undervalued in his personal opinion. All of his family’s wealth was invested in gold and silver, and these ratios remain in place today. Being exposed to these precious metals with one’s full portfolio may seem risky, but gold and silver often tend to outperform every other market without requiring active asset management. 

Mike Maloney Quotes

It is always interesting to look back at some of the quotes offered by gold bugs. In Mike Maloney’s case, there have been a fair few quotes that tend to attract a lot of attention. 

When it comes to the broader topic of taxes, Maloney offered the following:

“There are basically two kinds of tax, the kind the masses can see, and the kind they can’t. The inflation tax is of the second kind.”

Given all of the financial turmoil that has gone on in the past few months, it will be interesting to see what the future will hold in terms of inflation taxes. As the Federal Reserve continues to print money, the inflation tax will need to be adjusted accordingly. 

As one would expect, Maloney also provided some insights regarding gold:

“It’s not what the price of gold is that matters, but rather how much stuff it will buy.”

That is a very interesting way of looking at things. In theory, one can’t spend gold as conveniently as cash or payment cards. However, gold is one of the most liquid assets in terms of converting it to any fiat currency in the world. As such, gold has plenty of purchasing power when looking at the bigger picture. 

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