Dr. Alan Chan
About the Author:
Dr. Alan Chan, Pharm.D, 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. When his real estate portfolio lost seventy-five percent of its value 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.
MF: Your website says you hold a doctorate in Pharmacy. Tell us how you metamorphose from there to writing a book about the global financial system.
AC: Surprisingly, there is not much metamorphoses that happens because fundamentally pharmacology and finance is essentially the same.
Pharmacology is a study of drug management and drug action on a biochemical system and/or physiological effect on tissues. It is also a study of series of biochemical interactions and how they effect the systemic outcome. The study of Global Financial System is essentially the same as a human body (biochemical system) where various types of monetary policies act as monetary drugs that produces different geopolitical, monetary and humanistic outcomes thru different interactions with corresponding global and sectorial constituents.
After graduating from pharmacy school, I was involved with various startups and real estate investment projects while practicing pharmacy part-time. 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 and after 4+ years of research, 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.
MF: Tell us about your book, The Critical Flaw: How to Profit and Protect Wealth in History’s Greatest Opportunity. What makes it stand out from other books on the subject?
AC: The Critical Flaw seeks to educate audience with my 4+ years of evidence based research to answer the follow questions that we all have:
· What causes bubbles?
· How and why do they form?
· How can our financial system and monetary policies allow this to happen?
· Do we REALLY have a “free market”?
· How can we protect ourselves from future bubbles? And profit from bursting bubbles?”
The big difference is The Critical Flaw is independently published with autonomous voice and perspective. As an author, I am not under the political and financial influence of large national publishers and mainstream media that usually have bias agendas or conflict of interest(s) with the subject matter. And most importantly, I’m reachable, I’m real and I understand, I was in the same boat as many people who was hurt badly by the last financial crisis and I’m determined to protect and profit in the next crisis.
MF: What were your goals and intentions in this book, and how well do you feel you achieved them?
AC: The goal of The Critical Flaw is to explain the fundamental mechanism of macroeconomics with historic evidences on why and how the financial crisis have happened many times in the course of human history. In addition, it shows us a way in how to profit and protect ourselves from the next massive bubble burst. Precious metals have always been the choice of a true free market when fiat money destabilizes the economy throughout human history.
As a result, I am 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.
MF: If you had to go back and do it all over, is there any aspect of your book or getting it published that you would change?
AC: No, The Critical Flaw came out exactly how I wanted.
MF: What is the biggest thing that people THINK they know about investing, that isn’t so?
AC: Did you know IF everyone pay off their debts AND IF government is successful in cutting deficit spending by TOMORROW, our financial system will actually collapse immediately?
MF: What is the most important thing that people DON’T know about investing, that they need to know?
AC: Did you know YOUR money in YOUR bank is NOT yours? and is not really there? (as the folks in Cyprus recently learned the hard way)
MF: What do you read? What do you re-read?
ER I read and study the following subjects: Investments, Economics, Business, Politics and Medicine.
MF: What is your favorite writing tip or quote?
AC “In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.” -Dr. Alan Greenspan, Former Federal Reserve Chairman
MF: Do you have any advice for other writers?
AC: Have a greater-than-self goal and mission for your book. The Critical Flaw‘s mission is 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.
MF: If you could jump into a book, and live in that world … which would it be?
AC: The Bible!
The author has a unique perspective from the inside. He covers topics like inflation, quantitative easing, the “fiscal cliff,” and the global debt crisis with clarity and purpose. Dr. Alan P. Chan is presenting his research as evidence of money’s shaky foundation as an economic driver that Dr. Greenspan’s “critical flaw” presents an excellent investment opportunity.