subject: Do You Know What the Rich Know About Money? [print this page] Do You Know What the Rich Know About Money?
As it stands right now, there's a high degree of uncertainty about the economic future of the United States. The stock markets seem to be getting more volatile as the days pass. Also, there's a big problem and very seem to even be speaking about it and it deals with money. I'm not speaking about the lack thereof, I'm referring to the fact that money (US bills) don't have any REAL value or backing.
Here's what I mean:
The only thing that really makes a dollar bill (AKA promissory note) valuable is public confidence. But honestly, where has that been in the past few years? Not really good. If you look at the dollar compared to other currencies across the globe, you'll see a steady decline in recent years.
I wish I could see a turnaround in the near future, but as many economists have noted, we can't just print money out of thin air and expect the dollar to retain it's value in the long-term.
The Federal Reserve is actually in large part responsible for the value decline of the US dollar. They've mastered the art of fractional banking and making the monetary system so difficult to understand that most don't even try. Unfortunately, if you do your homework, you'll find very quickly that the Federal Reserve is totally "federal" and doesn't have any "reserve."
Many great books have been written about the Fed and how they basically hijacked American currency. There is no gold standard any longer so the money doesn't have to be backed by precious metals or anything valuable for that matter. It's literally blips on your computer screen.
One thing you can do to protect your money from inflation and from the value sinking, is to buy precious metals like gold and silver. If you look at the history books you'll find these two metals have ALWAYS held their value, even in times of crisis.
You can buy the precious metals and stock them at a safe in your house or locally. Also, you can store them overseas in a security vault in Japan or Switzerland. Don't store them in a bank because if a monetary collapse happens, the bank will take your money / metals. Research the great depression for examples of that.
Personally, I'd rather go to the casino as to put my money in the stock market since it appears you have just as much chance of winning long-term. Now, just as a disclaimer, I'm not attempting to give you financial advice, only to get you to question the stuff politicians, financial "experts" and the Fed shoves down are throats regularly.
If you look and analyze the wealthiest 1% in the country, you'll see something staggering. You'll see them investing in things that the other 99% do not normally. Think they might know something of importance? I firmly believe so!
Study the wealthiest Americans to see how they're investing and you're going to be absolutely shocked. I'm under the opinion, if you want to learn what to do with your money for long-term security and wealth creation, just study those that are already where you want to be.
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