Our current currency (the almight dollar - haha) will fade away into the night. Although it won't be a lullaby!
The free market will naturally return to true values and gold and silver (real money) will once again (as history has taught us) reign.
The U.S. must prepare to no longer be the King of the Castle; our collective nation's greed will soon make us extinct. Too bad the big boys took us all on their trip.
Robert, I can't wait for Part Two where we can apply all that we've learned (and will always continue to learn) from you. Thank you for your gift of education!
Kia Ora Robert,
well as I said in an earlier post China & Russia have talked about a world currency as the world reserve replacing the US dollar, but until we have no need for money in our hands I can't see countries giving up their independence.
There is talk of the Amero, but ask the Europeans about issues the Euro has thrown up. Here our new government(headed by a former currency trader)have said they will not combine with Australian for the proposed ANZAC currency as it would mean we would be tied into the bigger partner (so for Amero Canada & Mexico tied to US) & what their solutions are. Currently our two governments are taking very different tacks (our PM being praised by Wall Street Journal)which we could not do with a combined currency.
Governments will have back up plans & it is the making best from what comes out of them.
My plans are for now to build my security business, increase my silver holdings (add some gold too)at the right time cash much in to buy cash flow positive investments to base my current & planned businesses on, then start with my concept of sustainable communities coupled with my new security concept, which I see both being able to move beyond our borders as many believe in the same values (Africans, Arabs, Asians, Europeans are starting to turn their thinking back that way, South Americans, Pacific Islanders & American First Nations) but those who think western will have to change for it to be acceptable.
Remember all things are interconnected. As you say Robert making money is not bad it is what you do with it.
The person who keeps on about isolating the US from the outside world, it will only be to the detriment of the US. Japan did it for 600 years then had to catch up fast. the US tried it prior to world war two but the war came to it anyway. to move forward we all need to move forward together. combine capitalism with socialism.
First thing I learned is all depends, when I got a question regarding the economy I respond : Depends. You can not predict the future. It like the story with the turkey. He wakes up every morning and he is FED with corn seeds. The next day the same thing, and the day afterwords. And he predicts that the next day will be the same, he will get up and he will get corn, but it is THANKSGIVING DAY.
Live the moment, and hope for the best.
I first wanted to say I appreciate your timely knowledge and taking the time to publish a free book on this financial conspiracy. You have no reason to do this and you're the first prominent financial teacher to tell the truth about what is really going on. Few other financial writers would touch such a subject, let alone in a free online book.
The best part of the new chapter is the new rule of money. The concept of making money at a faster speed than bankers print it is brilliant. The problem is, most people can't realistically make money at this rate. Even an online business would need to be on the level of Ebay or Amazon in order to make money at a faster pace than banks can print it, and they are in the minority.
Personally, I think a better way to neutralize the speed at which banks print or digitally create money is to simply purchase gold and silver, real estate, and other tangible assets. I think the amount of money you have in "real" tangible assets is more important than how fast you produce it.
I read your guide to investing in silver and gold, and I believe those who buy gold and silver regularly, along with other real assets, have little need to worry about the speed at which they make money, since the "money" we are making today is not real money, but currency.
As far as my thoughts on what will happen to money in the future, the end game is likely hyperinflation, as you said earlier. The government can keep printing and bailing out these companies without destroying the dollar, and once the dollar is gone, those who don't have gold, silver, oil, real estate, or cash flow businesses will lose everything they've worked for, while those who do have these assets will become filthy rich.
My game plan is simple, and that is to build up my business and continue investing my money in tangible assets like gold in silver. Once hyperinflation sets in, and gold and silver enter planetary orbit in terms to prices, I can simply trade in the gold for real estate or a business that produces cash flow. Gold and silver is the ultimate weapon against the speed at which money is created, but the money being created is not real.
A Challenge: "We are being plunged into a period of time about which the Bible says more than it does about any other period of time in history, including the time that Jesus walked the shores of Galilee or climbed the mountains of Judea."
Chuck Missler www.khouse.org
View Aaron Russo's Freedom to Facism.com
Many are financially illiterate but many, many more are Biblically illiterate when it comes to the provocative times we are all living in today.
Do your homework to see if these things are true; for your Eternal Destiny can be changed in a moment in the privacy of your own will, intellect and emotions.
No one is promised tomorrow; settle the issue once and for all with the Lover of your own soul...www.JesusGift.com
I don't know if the world will go in this direction, but I believe one prominent system will be what GoldMoney.com offers. It is a company that sells gold and silver, stores it for the owner and allows him to trade, make purchases and sell to other owners directly. The metal is transferred from one owners account to others for whatever transactions they choose.
One of the important facts about this system is that it isn't run by a government and relies on the integrity of the company and it's auditors.
As for our economy, I think we are at the beginning of the depression. It will be a deep and lasting one that will result in either a freer, less regulated and more productive country, or will relegate us permanently to secondary, if not third world status. Of course, I hope it will be the former, but the longer the administration manages to delay the inevitable, the worse it will be and the harder it will be for the country to get back to having a real economy based on our traditional values of real work that produces things that the world will buy.
There are many great comments on this page and I am not sure i can contribute any differently. I will however, ask a couple of questions one to make you wonder and the other i am curious about.
1. Curious...who are the rich we are bailing out? Since most of the founders of the Fed are gone, who specifically (besides banks and government) is getting this money? Is there a single person or persons?
2. Listening to Glenn Beck on Tuesday, I heard a brief quip that the IMF is selling off 500 tons of gold to the international market. Although Glenn's suggestion was for the FED to buy it and hold it (IMF and FED are pretty much the same entity), I think there was something underlying that was missed. Why is the IMF doing it? Stated reason, to pay for the bailouts. However, is the real reason to artificially hold down the Gold price to allow the banks to shore up their balance sheets with commodities before the money supply is "let loose" in the economy and inflation takes hold? Just a thought.
I see a revolution coming. Americans all across the country are learning the truth and on April 15th will protest the income tax. I see the federal reserve falling and the US pulling out of the United Nations and adopting the Gold Stanard. I see other nations following America and I see the end of Fractional Reserve Banking System for good. I see freedom, liberty, justice, and prosperity returning to the US. I see the coming Space Age.
Well i can see some short term effects happening right now
Last Friday, my family went out for a dinner. We usually paid $30 for the whole dinner.
But AFTER the news of bailout and of bad economy hit the media, i thought the price would go down b/c business will not do well in such bad economy.
SURPRISE. The price went up to $35. I just could not believe what was happening. "Does the restaurant really want to fail?" was all i could think of.
But suddenly i realized your education on inflation. Aha! The bailout caused the price of dinner to inflate.
After seeing the price go up just like that, it was first time i had chill on my back. I realized i need financial education and financial security more than ever.
I could see hyperinflation after all those trillion dollars are put into the U.S. money supply.
Are bank/company losses really or just an accounting adjustment?
We are seeing lots of Banks/companies reporting losses. How many of these losses are real and how many of them are attributed to General accepted accounting principles (GAP) which continue to evolve and change? Do we really have losses or is it just an accounting rule?
I just took the time tonight to join and read this chapter. I can say the future of my money will be with me. I will continue to educate myself and my boys and increase their awareness of this topic through this book and among the others Mr. Kiyosaki and his wife Kim have written. I have the trust and confidence of my 15 year old who took the time to read this when I ask him to read for a moment. He is in public school and this chapter has explained in more detail what the school has not.
First, the world's currencies will crash, then we will have Ameros, Afros, Asios, like the Euros. Then, when that doesn't work we will have a microchip implanted in the back of the hand or forehead to buy or sell.
I would think that things will try to go more electronic, but I also see more barter for things, possibly to avoid the system, and to avoid taxation. When a barber cuts your hair in exchange for a service that you do, then we have a system that is under the radar for the system. I agree that excessive taxation will eventually be counterproductive to the government itself, that is, at a certain point of increasing taxation, the revenue that the government collects actually decreases due to the factors of evasion, and barter. As government trys to get an audit trail for all transactions for tax purposes, there is always ways to bypass the system, that is human nature.
Given the Orwellian cast of characters running the major countries and central banks I foresee the following:
1) Cash, the last vestige of the private transaction other than barter, will be abandoned, then made illegal. All transactions will have to have a credit card code on them...That way the government can rake off whatever they want on every transation to pay for whatever. Bartering will be made illegal and the P.R. Machine will be out in force to label it stealing, black market, unpatriotic, etc. The other advantage of a cashless society will be that the government can control all transactions and disallow any they deem detrimental to society...
2) Governmental control [not regulation] of all investment houses, etc.
3) A "world" money such that a few countries [G8 or G12 or G20] can unify under a single currency so that disruptive behavior and full control of the populace everywhere can be assured. Most people think that political freedom is important but it is economic and financial freedom that enables individual liberties and keeps governments from being too opressive.
There is a trend that is happening. It began with the US dollar, then, today, the European Euro. Central banks are becoming bigger and bigger in scope and size. There are talks of having single currencies in different regions around the world. One day, we will be waking up with a world currency with a world central bank. The conspiracy just gets better and better.
I am an entrepreneur in a state that is burdened by ever increasing debt and therefore is raising taxes at an alarming rate. I am in the business of manufacturing products in Asia and importing, distributing and selling in North America. What I am seeing now is a dollar that is ever weakening on the foreign currencies I exchange with and a call from countries like China to find a new world currency.
As the U.S. credit and ultimately the value of the dollar is only as good as it's ability to tax it's citizens, I see a breaking point in the future where the citizens and small businesses will no longer be able to pay the accelerating tax burden and will therefor begin to shelter their money in hard commodities like gold which is hard to track or cheat on things like taxes. Taken as a whole, this will degrade the credit worthiness of our "dollar" forcing a change on the world currency (the dollar). If the ability of the U.S. government to tax it's citizens and businesses is seen on the world front as weakened or at risk, the U.S. credit rating rating effectively goes down and the dollar becomes even less valuable. This is already happening and the value of the dollar reflects it.
The risk of having China release all or a large portion of their US holdings (notes and cash) into the US banking system will further devastate our economy and take out our middle class through means such as massively increased prices, worthless U.S. currency and skyrocketing inflation. These risks are real. Large countries, whose currency is not openly traded, will only take so much devaluation of their U.S. investments before selling them off at a reduced rate. If this happens, many other countries may follow suit. These types of events, if they happen, will force a fundamental change to our banking and money system. Eventually, the money held by U.S. banks, corporations and large institutions will also become effectively worthless as the money supply expands further and the true value of money will be forced to readjust. It is like one country "running the bank" on another country.
If this happens, a social change, the like of which we have never seen will undoubtably take place. The citizenry of this country, not being able to have any purchasing power will see no value in the "Full Faith And Credit of The U.S. Government", i.e. the dollar and will find alternative methods of exchange at the street level. This is already happening as barter but I believe that a newly valued currency backed by something tangible will inevitably arise.
Become an honest bank. These are the words that first came out from reading the question. Start acquiring cash through savings and investments. Then, start acquiring assets. Eventually, get income streams from assets. This is the plan by becoming a bank to compete with the other banks.
Doomed! Our economy today will not exist in its present form. I believe there is disaster written all over it for most people.
I just hope that the action I am taking will help myself and my family. I hope that I am determined enough to change the way my family and I are handling our financial lifestyle.
I cannot tell you have much I am looking forward to the next section of this book. I know I want to know where to put our money and how to pay bills without going through the commercial banking system. I have heard you and Kim talk about the fact that you do not keep you money in commercial banks. This tells me that the wealthy know what to do with their money that the middle class does not and I want to know the secret!
I touch investment at 5 years. I attended "Who took my Money" had banker, insurance agency, fund agency.
Banker promoted credit card to employer, they said," You use credit card can comfortable, fast, light, etc."
Insurance agency promoted insurance saving, they said," You save money 15 years, then 65 years old can retired." I read the fact sheet, I saved HK$200 on each month, then 65 years old can take HK$200,000. Although I'll 65 years old take HK$200,000, it is not value in early 15 years.
Fund agency promoted Fund saving, they said," You save long term had 15% return, average price." I attended my friend to save fund on insurance company. The first year had charged 75% Fees, the second to eighth years had charged 10% Fees.
They had same is I must be put out money to them, if I agreed them.
It seems pretty obvious that to lessen the impact of our debts, the Treasury, Fed, G-20, and anyone else involved will actively redefine and devalue our currency (on top of the obscure devaluing already happening), much like FDR did. Also, a global currency, or at least three or four main currencies seems likely. I doubt the dollar will stay the main global currency for much longer.
The future I see, that I am working to bring forward whenever I can, is a more transparent and sustainable economy, one not based on "growth is good" but on natural cycles. If enough people learn how money actually works, how the economy actually works, its possible. It would take some painful upheaval though. I don't know exactly how to get there, but helping educate others is the first step.
There's no reason to think those who have conspired for decades on how to get wealth from others suddenly got stupid. Isn't it more likely that the 'crisis' we see was planned?
Read Robert's "Who took my money?". Millions of Baby Boomers will want their Social Security money and other 'entitlements'. No elected offical nor political party will want to be the ones to say "No'. Not giving it is political suicide. So what do you do? Pay them the dollars you promised, but the dollars are worth less (and maybe near 'worthless'). We'll all be millionaires. Even the guy living in the cardboard box under the bridge. So, the timing of all this is just coincidental with Baby Boomers starting to want their Social Security & other government obligations? R-I-G-H-T
I attend what is considered a Mega Church located in Dallas, Texas. In fact, Robert Kiyosaki, and his wife Kim, visited my church on Valentine's Day a couple of years ago to discuss business and investing as a couple. Recently, our church was the host location of an event held by another well-known "finance-figure."
This other "finance-figure" teaches strategies concerning personal finance. However, as I listen to his radio show and advice, I never hear him expose the root of the financial issues. Therefore, I cannot belive he educating his listeners on the highes level. In fact, his rules about money operate under the auspaces of the "old rules" for money. I do belive this gentleman in sincere in the delivery of his message. However, he is sincerly wrong in his advise.
With over 30,000 members on roster at our Mega-Church, I would love to Mr. Kiyosaki return to deliver a truthful finance seminar. One that attacks the subjects of money, finance and investing from a factual and historical point of view. One that uncovers the the "whys" and the "hows." With over 30,000 members receiving proper information, generational wealth would be more of a certainty. Generational wealth could then be attained by sound principles and not just on a hope, a wing, and a prayer.
Paper money will eventually disappear and everything will be EFT
I think eventually paper money will go away. With technology advancing and more and more things going electronic, i do believe that eventually money will be paid by EFT (electronic funds transfer) to everyone. You will have a debit card to use instead of paper. Maybe even an implant that would be scanned to access your personal account. There will be no more banks. Just one big one. The fed reserve will become the only bank and our money will come directly from there. The fed reserve will control all money and rather than print money they wil just type more Zero's.
The Fed meets with G20 and what they talk about is secret. There is more and more evidence that pops up that points to the possibility of the US, Canada, and Mexico adopting a common currency called the AMERO. The Fed is smart enough to know what is going to happen when they print so much money, but the alternative is career suicide...a convergence back to a gold or silver standard would limit their power to create money....so that doesn't seem likely to happen with the dollar....maybe an "Amero" or some other form of global currency backed by gold or silver might be accepted if a depression hits....then later the UN or whoever controls that currency could take us off the gold or silver standard and control the printing presses of the whole world's money supply? In my opinion this seems to be the most likely scenario.
Our current currency (the almight dollar - haha) will fade away into the night. Although it won't be a lullaby!
The free market will naturally return to true values and gold and silver (real money) will once again (as history has taught us) reign.
The U.S. must prepare to no longer be the King of the Castle; our collective nation's greed will soon make us extinct. Too bad the big boys took us all on their trip.
Robert, I can't wait for Part Two where we can apply all that we've learned (and will always continue to learn) from you. Thank you for your gift of education!
Kia Ora Robert,
well as I said in an earlier post China & Russia have talked about a world currency as the world reserve replacing the US dollar, but until we have no need for money in our hands I can't see countries giving up their independence.
There is talk of the Amero, but ask the Europeans about issues the Euro has thrown up. Here our new government(headed by a former currency trader)have said they will not combine with Australian for the proposed ANZAC currency as it would mean we would be tied into the bigger partner (so for Amero Canada & Mexico tied to US) & what their solutions are. Currently our two governments are taking very different tacks (our PM being praised by Wall Street Journal)which we could not do with a combined currency.
Governments will have back up plans & it is the making best from what comes out of them.
My plans are for now to build my security business, increase my silver holdings (add some gold too)at the right time cash much in to buy cash flow positive investments to base my current & planned businesses on, then start with my concept of sustainable communities coupled with my new security concept, which I see both being able to move beyond our borders as many believe in the same values (Africans, Arabs, Asians, Europeans are starting to turn their thinking back that way, South Americans, Pacific Islanders & American First Nations) but those who think western will have to change for it to be acceptable.
Remember all things are interconnected. As you say Robert making money is not bad it is what you do with it.
The person who keeps on about isolating the US from the outside world, it will only be to the detriment of the US. Japan did it for 600 years then had to catch up fast. the US tried it prior to world war two but the war came to it anyway. to move forward we all need to move forward together. combine capitalism with socialism.
First thing I learned is all depends, when I got a question regarding the economy I respond : Depends. You can not predict the future. It like the story with the turkey. He wakes up every morning and he is FED with corn seeds. The next day the same thing, and the day afterwords. And he predicts that the next day will be the same, he will get up and he will get corn, but it is THANKSGIVING DAY.
Live the moment, and hope for the best.
Robert,
I first wanted to say I appreciate your timely knowledge and taking the time to publish a free book on this financial conspiracy. You have no reason to do this and you're the first prominent financial teacher to tell the truth about what is really going on. Few other financial writers would touch such a subject, let alone in a free online book.
The best part of the new chapter is the new rule of money. The concept of making money at a faster speed than bankers print it is brilliant. The problem is, most people can't realistically make money at this rate. Even an online business would need to be on the level of Ebay or Amazon in order to make money at a faster pace than banks can print it, and they are in the minority.
Personally, I think a better way to neutralize the speed at which banks print or digitally create money is to simply purchase gold and silver, real estate, and other tangible assets. I think the amount of money you have in "real" tangible assets is more important than how fast you produce it.
I read your guide to investing in silver and gold, and I believe those who buy gold and silver regularly, along with other real assets, have little need to worry about the speed at which they make money, since the "money" we are making today is not real money, but currency.
As far as my thoughts on what will happen to money in the future, the end game is likely hyperinflation, as you said earlier. The government can keep printing and bailing out these companies without destroying the dollar, and once the dollar is gone, those who don't have gold, silver, oil, real estate, or cash flow businesses will lose everything they've worked for, while those who do have these assets will become filthy rich.
My game plan is simple, and that is to build up my business and continue investing my money in tangible assets like gold in silver. Once hyperinflation sets in, and gold and silver enter planetary orbit in terms to prices, I can simply trade in the gold for real estate or a business that produces cash flow. Gold and silver is the ultimate weapon against the speed at which money is created, but the money being created is not real.
A Challenge: "We are being plunged into a period of time about which the Bible says more than it does about any other period of time in history, including the time that Jesus walked the shores of Galilee or climbed the mountains of Judea."
Chuck Missler www.khouse.org
View Aaron Russo's Freedom to Facism.com
Many are financially illiterate but many, many more are Biblically illiterate when it comes to the provocative times we are all living in today.
Do your homework to see if these things are true; for your Eternal Destiny can be changed in a moment in the privacy of your own will, intellect and emotions.
No one is promised tomorrow; settle the issue once and for all with the Lover of your own soul...www.JesusGift.com
I don't know if the world will go in this direction, but I believe one prominent system will be what GoldMoney.com offers. It is a company that sells gold and silver, stores it for the owner and allows him to trade, make purchases and sell to other owners directly. The metal is transferred from one owners account to others for whatever transactions they choose.
One of the important facts about this system is that it isn't run by a government and relies on the integrity of the company and it's auditors.
As for our economy, I think we are at the beginning of the depression. It will be a deep and lasting one that will result in either a freer, less regulated and more productive country, or will relegate us permanently to secondary, if not third world status. Of course, I hope it will be the former, but the longer the administration manages to delay the inevitable, the worse it will be and the harder it will be for the country to get back to having a real economy based on our traditional values of real work that produces things that the world will buy.
There are many great comments on this page and I am not sure i can contribute any differently. I will however, ask a couple of questions one to make you wonder and the other i am curious about.
1. Curious...who are the rich we are bailing out? Since most of the founders of the Fed are gone, who specifically (besides banks and government) is getting this money? Is there a single person or persons?
2. Listening to Glenn Beck on Tuesday, I heard a brief quip that the IMF is selling off 500 tons of gold to the international market. Although Glenn's suggestion was for the FED to buy it and hold it (IMF and FED are pretty much the same entity), I think there was something underlying that was missed. Why is the IMF doing it? Stated reason, to pay for the bailouts. However, is the real reason to artificially hold down the Gold price to allow the banks to shore up their balance sheets with commodities before the money supply is "let loose" in the economy and inflation takes hold? Just a thought.
I see a revolution coming. Americans all across the country are learning the truth and on April 15th will protest the income tax. I see the federal reserve falling and the US pulling out of the United Nations and adopting the Gold Stanard. I see other nations following America and I see the end of Fractional Reserve Banking System for good. I see freedom, liberty, justice, and prosperity returning to the US. I see the coming Space Age.
Last Friday, my family went out for a dinner. We usually paid $30 for the whole dinner.
But AFTER the news of bailout and of bad economy hit the media, i thought the price would go down b/c business will not do well in such bad economy.
SURPRISE. The price went up to $35. I just could not believe what was happening. "Does the restaurant really want to fail?" was all i could think of.
But suddenly i realized your education on inflation. Aha! The bailout caused the price of dinner to inflate.
After seeing the price go up just like that, it was first time i had chill on my back. I realized i need financial education and financial security more than ever.
I could see hyperinflation after all those trillion dollars are put into the U.S. money supply.
We are seeing lots of Banks/companies reporting losses. How many of these losses are real and how many of them are attributed to General accepted accounting principles (GAP) which continue to evolve and change? Do we really have losses or is it just an accounting rule?
I just took the time tonight to join and read this chapter. I can say the future of my money will be with me. I will continue to educate myself and my boys and increase their awareness of this topic through this book and among the others Mr. Kiyosaki and his wife Kim have written. I have the trust and confidence of my 15 year old who took the time to read this when I ask him to read for a moment. He is in public school and this chapter has explained in more detail what the school has not.
Thank you!
First, the world's currencies will crash, then we will have Ameros, Afros, Asios, like the Euros. Then, when that doesn't work we will have a microchip implanted in the back of the hand or forehead to buy or sell.
I would think that things will try to go more electronic, but I also see more barter for things, possibly to avoid the system, and to avoid taxation. When a barber cuts your hair in exchange for a service that you do, then we have a system that is under the radar for the system. I agree that excessive taxation will eventually be counterproductive to the government itself, that is, at a certain point of increasing taxation, the revenue that the government collects actually decreases due to the factors of evasion, and barter. As government trys to get an audit trail for all transactions for tax purposes, there is always ways to bypass the system, that is human nature.
Given the Orwellian cast of characters running the major countries and central banks I foresee the following:
1) Cash, the last vestige of the private transaction other than barter, will be abandoned, then made illegal. All transactions will have to have a credit card code on them...That way the government can rake off whatever they want on every transation to pay for whatever. Bartering will be made illegal and the P.R. Machine will be out in force to label it stealing, black market, unpatriotic, etc. The other advantage of a cashless society will be that the government can control all transactions and disallow any they deem detrimental to society...
2) Governmental control [not regulation] of all investment houses, etc.
3) A "world" money such that a few countries [G8 or G12 or G20] can unify under a single currency so that disruptive behavior and full control of the populace everywhere can be assured. Most people think that political freedom is important but it is economic and financial freedom that enables individual liberties and keeps governments from being too opressive.
There is a trend that is happening. It began with the US dollar, then, today, the European Euro. Central banks are becoming bigger and bigger in scope and size. There are talks of having single currencies in different regions around the world. One day, we will be waking up with a world currency with a world central bank. The conspiracy just gets better and better.
I am an entrepreneur in a state that is burdened by ever increasing debt and therefore is raising taxes at an alarming rate. I am in the business of manufacturing products in Asia and importing, distributing and selling in North America. What I am seeing now is a dollar that is ever weakening on the foreign currencies I exchange with and a call from countries like China to find a new world currency.
As the U.S. credit and ultimately the value of the dollar is only as good as it's ability to tax it's citizens, I see a breaking point in the future where the citizens and small businesses will no longer be able to pay the accelerating tax burden and will therefor begin to shelter their money in hard commodities like gold which is hard to track or cheat on things like taxes. Taken as a whole, this will degrade the credit worthiness of our "dollar" forcing a change on the world currency (the dollar). If the ability of the U.S. government to tax it's citizens and businesses is seen on the world front as weakened or at risk, the U.S. credit rating rating effectively goes down and the dollar becomes even less valuable. This is already happening and the value of the dollar reflects it.
The risk of having China release all or a large portion of their US holdings (notes and cash) into the US banking system will further devastate our economy and take out our middle class through means such as massively increased prices, worthless U.S. currency and skyrocketing inflation. These risks are real. Large countries, whose currency is not openly traded, will only take so much devaluation of their U.S. investments before selling them off at a reduced rate. If this happens, many other countries may follow suit. These types of events, if they happen, will force a fundamental change to our banking and money system. Eventually, the money held by U.S. banks, corporations and large institutions will also become effectively worthless as the money supply expands further and the true value of money will be forced to readjust. It is like one country "running the bank" on another country.
If this happens, a social change, the like of which we have never seen will undoubtably take place. The citizenry of this country, not being able to have any purchasing power will see no value in the "Full Faith And Credit of The U.S. Government", i.e. the dollar and will find alternative methods of exchange at the street level. This is already happening as barter but I believe that a newly valued currency backed by something tangible will inevitably arise.
Become an honest bank. These are the words that first came out from reading the question. Start acquiring cash through savings and investments. Then, start acquiring assets. Eventually, get income streams from assets. This is the plan by becoming a bank to compete with the other banks.
Doomed! Our economy today will not exist in its present form. I believe there is disaster written all over it for most people.
I just hope that the action I am taking will help myself and my family. I hope that I am determined enough to change the way my family and I are handling our financial lifestyle.
I cannot tell you have much I am looking forward to the next section of this book. I know I want to know where to put our money and how to pay bills without going through the commercial banking system. I have heard you and Kim talk about the fact that you do not keep you money in commercial banks. This tells me that the wealthy know what to do with their money that the middle class does not and I want to know the secret!
I touch investment at 5 years. I attended "Who took my Money" had banker, insurance agency, fund agency.
Banker promoted credit card to employer, they said," You use credit card can comfortable, fast, light, etc."
Insurance agency promoted insurance saving, they said," You save money 15 years, then 65 years old can retired." I read the fact sheet, I saved HK$200 on each month, then 65 years old can take HK$200,000. Although I'll 65 years old take HK$200,000, it is not value in early 15 years.
Fund agency promoted Fund saving, they said," You save long term had 15% return, average price." I attended my friend to save fund on insurance company. The first year had charged 75% Fees, the second to eighth years had charged 10% Fees.
They had same is I must be put out money to them, if I agreed them.
If you any question, opinion:
http://jessekevinsammak.mysinablog.com
Jessekevinsammak@yahoo.com.hk
It seems pretty obvious that to lessen the impact of our debts, the Treasury, Fed, G-20, and anyone else involved will actively redefine and devalue our currency (on top of the obscure devaluing already happening), much like FDR did. Also, a global currency, or at least three or four main currencies seems likely. I doubt the dollar will stay the main global currency for much longer.
The future I see, that I am working to bring forward whenever I can, is a more transparent and sustainable economy, one not based on "growth is good" but on natural cycles. If enough people learn how money actually works, how the economy actually works, its possible. It would take some painful upheaval though. I don't know exactly how to get there, but helping educate others is the first step.
There's no reason to think those who have conspired for decades on how to get wealth from others suddenly got stupid. Isn't it more likely that the 'crisis' we see was planned?
Read Robert's "Who took my money?". Millions of Baby Boomers will want their Social Security money and other 'entitlements'. No elected offical nor political party will want to be the ones to say "No'. Not giving it is political suicide. So what do you do? Pay them the dollars you promised, but the dollars are worth less (and maybe near 'worthless'). We'll all be millionaires. Even the guy living in the cardboard box under the bridge. So, the timing of all this is just coincidental with Baby Boomers starting to want their Social Security & other government obligations? R-I-G-H-T
I attend what is considered a Mega Church located in Dallas, Texas. In fact, Robert Kiyosaki, and his wife Kim, visited my church on Valentine's Day a couple of years ago to discuss business and investing as a couple. Recently, our church was the host location of an event held by another well-known "finance-figure."
This other "finance-figure" teaches strategies concerning personal finance. However, as I listen to his radio show and advice, I never hear him expose the root of the financial issues. Therefore, I cannot belive he educating his listeners on the highes level. In fact, his rules about money operate under the auspaces of the "old rules" for money. I do belive this gentleman in sincere in the delivery of his message. However, he is sincerly wrong in his advise.
With over 30,000 members on roster at our Mega-Church, I would love to Mr. Kiyosaki return to deliver a truthful finance seminar. One that attacks the subjects of money, finance and investing from a factual and historical point of view. One that uncovers the the "whys" and the "hows." With over 30,000 members receiving proper information, generational wealth would be more of a certainty. Generational wealth could then be attained by sound principles and not just on a hope, a wing, and a prayer.
I think eventually paper money will go away. With technology advancing and more and more things going electronic, i do believe that eventually money will be paid by EFT (electronic funds transfer) to everyone. You will have a debit card to use instead of paper. Maybe even an implant that would be scanned to access your personal account. There will be no more banks. Just one big one. The fed reserve will become the only bank and our money will come directly from there. The fed reserve will control all money and rather than print money they wil just type more Zero's.
The Fed meets with G20 and what they talk about is secret. There is more and more evidence that pops up that points to the possibility of the US, Canada, and Mexico adopting a common currency called the AMERO. The Fed is smart enough to know what is going to happen when they print so much money, but the alternative is career suicide...a convergence back to a gold or silver standard would limit their power to create money....so that doesn't seem likely to happen with the dollar....maybe an "Amero" or some other form of global currency backed by gold or silver might be accepted if a depression hits....then later the UN or whoever controls that currency could take us off the gold or silver standard and control the printing presses of the whole world's money supply? In my opinion this seems to be the most likely scenario.