I was asked to provide a short summary of my investment theses especially related to silver. Well I have to practice keeping it short.

1. Savings are deferred consumption/investment, which can be used for consumption/investment later.

2. Previously, savings without knowledge were able to provide a positive return on capital, in the 1700s this was about 5% but has steadily declined. Now it is hardly possible to get more than 2%. Taxation by inflation (capital "gains") is the main way how this is accomplished lately.

3. The Knowledge age does change the rules such that very little capital is typically needed for the most interesting projects. Some is needed, but the critical component is knowledge.

4. Accumulated capital preservation is difficult, therefore it makes sense to only hold a smallish amount and diversify it to combat threats.

5. "Don't invest more than you can afford to lose" means that every asset, person, jurisdiction, vehicle etc. you own should only be a smallish % of your portfolio that you can afford to lose, in case a threat towards that materializes. Not all assets can go to zero in the market, but most can be taken away from you, resulting in total loss of that asset. Some assets may also be very illiquid for an unforeknown time, depending on the jurisdiction, so there always need to be some assets you can tap into for the cashflow needs.

6. Keeping your skills up-to-date, both personal/network skills, productive skills and asset management skills, is very important.

7. Portfolio should contain components that are well shielded and minimally intercorrelated against total loss risks (wealth preservation) and components that have a chance to appreciate in value and/or provide cash flow.

8. I have been a "silver bug" in a sense that I regarded it as a great investment and was overweight, in 2006-2013, then I was a Bitcoin bug for a short time, and now have been a Monero bug, because it now holds the same promise that the previous ones did earlier. (Monero is so cheap that I am not even much weighted, because the potential upside is so great.) Both silver and bitcoin are now relegated to wealth preservation roles in my thinking, both still having the potential of large upside though.

9. I have never been a gold bug but have occasionally owned some gold.

10. Neither a lender nor a borrower be. Knowledge economy does not have a place for debt (obligation to pay a fixed sum regardless of the outcome of the venture) in it. Crowdfunding in all forms is the way to go.

11. The role of financial capital is to enable the most effective use of knowledge capital, and even before Bitcoin was invented, my productivity has not much been hampered by the lack of financial capital. I am content with the amount that I have, and in the long term more is probably coming when one of my current or future long-shots matures. The excess I have keenly donated to charitable purposes, although finding worthy recipients is difficult.

12. The theses do not consider the "industrial-age" situations where pooling of massive resources under a centralized command was necessary. Some projects still have these attributes, but most of them could already be reorganized, power politics are hindering the progress.