Discussion

I would say that this notion is correct, but I would also state emphatically that ACTION on knowledge is actually more important. That one knows how to short a stock, or build a website, or whatever, does not necessarily translate into that person taking the actions necessary to create wealth. I admit in my own case this has sometimes been true (due to fear of loss), and I know of others that have effectively confined themselves to a life of subsistence rather than a life of abundance because of fear.

One must have knowledge, but one must have the courage to ACT on that knowledge before it gains any value.

I really believe that money can be use for good and well as evil. I agree with money is knowledge because it how to use it make you rich. As scrooge McDuck would said, "As my dad would say, Work smarter not harder" to make money. I truly believe that if I know how money work and have it work for me then I will have financial security via financial freedom. So we have to think smarter when you how to use money and must leave human emotion to it. We must also have educational system that also deal with money matter. So end Knowledge is money and freedom.

The issue is that many people see and view riches as evil. Indeed many wrongly quote the bible and say that money is the root of evil, whereas the bible says 'love of money is the root of evil'. Again people think that to be poor is blessed.

Honestly I agree with you. Money is knowledge and knowledge is power. However I just want to add that like anything in life money is valuable to the extent people give it value.

In the final analysis, I hope we all learn and learn fast

Strictly speaking, knowledge is money but money is not necessarily knowledge. After all, someone who has a lot of money but no knowledge ABOUT money may just spend it, the only knowledge it may buy is one very expensive lesson learned the hard way. Even if you used money to increase your knowledge, that is only as good as the quality of the information. Before you become knowledgeable the type of education you buy into is only as good as your knowledge at that time - which is perhaps based on little more than reputation and popular opinion.

Furthermore, although it makes the most sense to become knowledgeable about money itself in the long run, even other types of knowledge can make you money. The thing is the nature of knowledge (or understanding) make it more valuable than anything we have a limited supply of, and can help us increase those other things like money or time. (for example, a longer life span, or freeing up time from work so you can do other things you actually want to do) The fact that profit is made from other peoples time and money should tell us something about what is more important and more valuable. So even the old saying "time is money" really doesn't compare when you're talking about knowledge.

As much as I value your contributions to the financially uniformed; I have to say that I do not subscribe to that rule. I think that "Idea" is not an effective one because the "MIND" is the source of knowledge, power, money, etc. Money has no power, period. People's ideas, info, etc. about money give money the illusional power that the mind is responsible.

This point reminds me of that Buckminster Fuller quote: "Don't fight forces, use them." Of course, the intelligent way of using forces is to understand how they work, and position yourself where you may benefit from their action, rather than just trying to acquire a lot of one type (perhaps by repeating one type of activity - what we call a job) directly and then use it exclusively. Someone in a nearby city recently robbed a person at gunpoint for ten dollars, now that is certainly very little return with a poor use of and limited view of force. The reality is there are all kinds of forces in the world that may be used, we just have to think outside the box to see how they might be used.

My understanding of this rule is that knowledge applied correctly can lead to profit. So far, though, I have always needed to invest some of my own funds (for example 10% in the case of property) ... I eagerly await the next chapter/s. The possibility of making money with no initial investment is fascinating.

I agree with you, knowledge is very important in this rapidly changing information age. But it should be new updated knowledge not obsolete knowledge in order to make money. (For example the US dollar was a strong currency in a certain period, but now it is a gloomy currency heading to disaster.)

This is very true. I invest my money into VUL's and I keep myself updated with information. So far, right now, I consider this time as the Great Sale since the Great Depression, where everything is a bargain. My agent told me that I am just only one of two, who keeps on investing on the equities fund, while the rest of the people save their money into the conservative funds. The others save, because of fear of the present global crisis. And one day, when or if the crisis ends, I am projecting to receive twice my principal amount on top of the principal amount. The difference between the others and I is only one word: Information, ergo, Knowledge.