The real future of your money!
Are you ready for the loss of your purchasing power? Well we have paid off all our credits cards years ago, paid off our mortgage a couple of years ago, and own all three cars we drive, plus we can now save money every month and pay cash for what we need... But then those who are not in this boat or condition, tend to want us to kick in and always help them because they did not make the right choices with their money...
What is wrong with this picture? Well most people live like there is no tomorrow and always expect that others will help pick up the check for them! Read on and see where that gets you!
Date: 2/11/2011 9:37:32 AM ( 5 y ) ... viewed 5803 times
Will you watch your money just slip away in the near future?
BTW: Riots, and anarchy like in some countries today; will not make it right, because this is a long time coming world wide event! ** Mainly the Liberal (progressive) thinkers have driven the US Government and economy into destruction just because they "felt" like helping most of the so called under privileged souls in this country and some parts of the world! Yet they never in their debt bent run on attempt to solve all the world 's problems, realized that there is only so much money available, plus someone (who works and produces) has to pay for it! DUH!
Oh Ya, the government can't help because it is broke!
This is from a blog noted below; about what happened to the UK or Great Britain in the past fifty years... It does not take a genius to see the hand writing on the wall...
Sound impossible? It’s not. It already happened - in the U.K.
It was 1967, and the U.K. was facing the same pressures that the U.S. faces now. I’m sure if you asked the Brits at the time, if they could lose wealth like that - they wouldn’t have believed you either.
But then it happened...
No One Likes to Talk about Dying Empires
Of course, no one really talked about the U.K. being a dying empire at the time. But they were. The U.K. started losing its imperial status in the 1940s.
The British pound officially lost its status as the world’s reserve currency just after World War II.
Before that, the British pound had served as the world’s reserve currency for 150 years! But after battling two world wars, the Brits lost that privilege to the U.S.
It took a little over 20 years, but the British pound finally hit rock bottom.
So the British government decided to “help” the locals by devaluing the British pound 14%. Overnight, the Brits lost 14% of their wealth, with no way to get it back.
That’s VERY similar to what the Fed is doing now for us - by keeping the dollar’s value depressed with 0% interest rates, and quantitative easing.
Of course the pound didn’t disappear when this empire crumbled. It’s still a valid currency today. But you can’t convince any central bankers to hold more than a very small percentage of their reserves in pounds. In fact, most hold more Japanese yen than British pounds!
So it will be with the dollar.
The dollar will still be a valid currency. But in 10 years, it’s very possible that central bankers will only keep a small reserve in dollars, much like they do with the pound.
Why shouldn’t the dollar go the way of the pound? After all, the U.K. was making the same mistakes back then, as we are today.
- Britain pursued a socialist agenda just like we have through Obama’s presidency.
- The U.K. government took over companies during their decline from power. We’re doing the same thing with Freddie Mac, Fannie Mae, General Motors, AIG, etc.
- The U.K. took a “spread the wealth around” approach just like President Obama. The problem is when you take money from a company who knows how to handle it and give it to a spendthrift company, the money gets squandered away.
Why should we think that history will reward us? Why should we get a different result when we’re doing the exact same things?
I’ve Seen This Coming for Years Now
Honestly, I believe so strongly that this dollar devaluation is coming that I started preparing for it years ago.
I used to look like most Americans financially. I had credit card debt, car payments, a house payment - debt.
Today, all of my credit cards are paid off. I have an emergency fund. My three cars are all paid off and my home will be paid off within two years as well.
I’m so dead-set on this goal that any of my co-workers can repeat it easily because they hear it far too often. But that’s how passionate I am about preparing for what’s to come.
Of course, I’ve also been making strategic currency investments. I have a portion of my savings diversified into stronger currencies to protect the wealth I do have from any dollar devaluation.
Sometimes I feel like Noah building an ark for the economic flood that is to come. Others laugh because they don’t see it coming.
But I know I’ll be ready if everything suddenly costs 15%, 20% or even 30% more - if the dollar suddenly dropped in value, or inflation finally caught up with us.
Your Own “Empire Economic Survival Plan”
I highly recommend you take similar precautions. Start paying down whatever debt you have. Take care of your mortgage. Pay off your cars. Start saving more of your paychecks or investment income each month.
While you’re getting your financial house in order, take a good portion of your savings and investments and get them out of dollar-denominated assets.
I’d be changing my dollars into Australian dollars and Canadian dollars at a minimum. These countries don’t run their countries the same way we do.
Australia didn’t even enter a recession when the world dipped into one this last time. So go to the places where they aren’t devaluing their currencies. Go to the places that still have the fundamentals to support a currency.
But whatever you do...get at least part of your money out of U.S. dollars! Trust me, it could save you in the long run.
Thanks for reading,
Editor, Currency Cross Trader
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