Discussion

I think its more about understanding the rules of money as it was played before 1971 and how its played today.The deflation that resulted in a depression many years ago saw people that held on to their dollar(savings) profit immensely because at that time the dollar was real money backed by gold.The intrinsic value of the dollar before 1971 was equavalient the amount of gold held by the treasury department.The rule however has since changed.Dollar as we know it today is fiat money,monopoly money or debt.Therefore money became only good for what assets it can buy.Holding on to dollars for longer was is not an option anymore for wise investors.

So I am preparing for the uncertain future with my personal balance sheet right in front of me all the time.Take on debt(dollars) only when the numbers indicate that it will generate positive cashflow in the SHORTEST possible time.This way,i will be able to set myself up for the great wealth transfer that will come with depression.

In otherwords,I intend to create my own economy,(company)with its own money,(value)managed properly and ready to acquire weak economies as a result of a depression.

By putting my trust in Almighty God Jehovah, the God of the Bible, and his reigning King, Jesus Christ.
The real issue on earth is: who has the right to tell us what to do? The most enlightened answer is: our Creator, Jehovah.
Taking up the lifestyle of Jehovah's Witnesses has allowed me to put the interests of God and my neighbor ahead of my own, and I continue to live. Life is a gift and until we treat it as an undeserved kindness, we will naturally be self-centered, and greedy. There's really no reason to do anything but obey Jehovah and love our fellowman.
I'm sure you know Jehovah's Witnesses near you. You can get in touch with them or email me: debs63@tvscable.com to find out how to be "no part of this world".
This may seem nonsensical but it's working for 7 million earthwide in 236 different countries. If you visit www.watchtower.org you can find out more about what's the most important things. Money is not, but obedience to God is.

I am learning how to trade in all capital markets, so that I can move in and out of the dollar at will. I want to understand everything about the capital markets and how to make money in them through trading and investing. I want to learn to make a living doing this. Once I have acquired this skill, I will build a company and invest in the next boom, which will be in food, water, healthcare, energy, ext.. I will also invest in real estate wisely. That is my plan. I enjoy trading. Its like a game where you can keep score. The money isn't important. It's the game and your score in that game.

I am preparing in a way that i expect the unexpected may

happen...........I'm just 15 yrs old and i have financial

education....my fellow filipinos( class mates, teachers , friends

and others....) always said that what i am doing is a waste of


time , but whatever they say , i'll just said- "Expect the

Unexpected"

The nxt depression will be the best time for the investors( i mean "sophisticated investors")

and the worst time (of course) for the average investors......

GOOD LUCK TO ALL OF YOU

and thanks RObert kiyosaki...

panicking...because I don't know where to even begin.

I'm preparing myself by educating myself & increasing my knowledge. I started buying gold coins by learning that it is in a bull market that will appreciciate further in the coming inflation. I'm also searching & looking for ways of how to acquire agricultural commodities & oil that I can keep for more than two years.

In my opinion, and I am still young and I do not know anything about economic downturn, the following would be wise for me in good and in bad times:

To invest in tangible assets, such as real estate, gold and silver as was mentioned in this chapter.

I believe most of our financial problems begin when we invest in the intangible--make no mistake alot of people have grown rich from this but I find this type of investments risky. Shares, policies... they don't *REALLY* exist... they are intangible... which is also the reason I believe we see this collapse, it is the collapse of nothing.. the collapse of the monopoly money.

Always do the calculation and try to project as accurately as possible what your return will be on your investment, this can only truly be calculated with the IRR function.

Good luck to all.

PS. I believe these are bad times, and we are moving into hard times, but as wealth creators we need to continuely see opportunities and where other people see scarcity, ABUNDANCE!

PPS. Do the opposite of what people are doing now.