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Transfer of wealth – Over the past 2.5 years my eyes have been slowly opened to the way money and the economy really works. I’ve always been a history buff and as I study financial history I understand more and more what lead to the global financial crisis we are currently living through. I’ve learned that we are about to see a transfer of wealth of epic proportions unlike anything the world has ever seen. I’m not going to get into a specific timeline in this post as to what exactly lead up to this. But I will tell you what myself and some of my “wealth creation mentors” are doing about it, in order to be on the winning side of the largest transfer of wealth in history. A financial crisis like this is sure to bring massive opportunities for creating wealth.
First, its important to understand that people make money in every kind of economy, good or bad, and that financial crisis spells massive opportunity for those of us with the knowledge and the balls to take action. If the vulgar language offends you I promise you’ll get over it. We are about to witness the largest transfer of wealth in history and the wealth will literally transfer from the uninformed to the well informed. But how do you get informed? Are the talking heads on the financial news channels telling you to prepare for the worst or giving false hope of an end to the “recession” coming soon?
And how do you know if what we are currently experiencing is a recession or a depression? Economists only have a clear definition for recession and no definition for depression. So do the unemployment numbers have to reach 25% the way they did back in the US depression of the 1930’s for us to start calling it a depression? The fact is that many people around the world are living through personal depressions. The good news is that you and I can help those people by getting informed and taking action.
The Transfer of wealth in America
Now more than ever we are living in a “global economy.” And the US dollar is the reserve currency of the entire world. So, as the US economy tanks it creates a domino effect that tanks economies all over the world. As baby boomers in the United States continue to retire and pull money out of their 401K’s (money that is in the stock market), we are likely to see another stock market crash, (much like the crash of 1929), that ushered in the US great depression. As the Federal Reserve continues to print money (devaluing the currency), to bail out corporations and state economies inflation and hyer-inflation is also likely to take effect. I believe the term hyper-inflation is soon to be a term on the lips of Americans and people all over the world. It is a scary thing, especially when you think about what hyper-inflation did to the German mark in the German depression after world war 1. The transfer of wealth in America again will go from the un-infomed masses to the few with the knowledge of how to protect themselves and their families.
Wealth Transfer Strategies
This is scary stuff and I don’t like spreading a message of fear. However, people need to wake up to what is going on in the world and take appropriate action to protect themselves and their families. Obviously, I believe the economy will get much much worse before it gets any better. I hope the economy does not crash, but even if there is a .0001 percent chance that it will, we need to be prepared for the worst.
The answer is education and being informed. I think one of the best wealth transfer strategies to ensure that wealth transfers to you, rather than away from you, is to get your hands on some precious metals. Silver and gold have recently hit an all time high and I believe they will continue to skyrocket making it the largest bull market in history. You can purchase an ounce of silver for only $29 dollars if you cannot afford to purchase gold. Some of the economic experts I regularly listen to predict silver going to $1,000 per ounce and gold peaking at $50,000 an ounce. Maybe they are completely wrong. There is no way to be sure but if you study history you understand that as the dollar plummets precious metals are likely to skyrocket.
Another way to protect yourself and your family is to start loading up on supplies. If hyper-inflation hits we are likely to see people bum rushing stores and super markets to trade their newly worthless dollars for a limited number of supplies like toiletries and food. I have my family stocking up on perishable food and supplies now as a way to “weather the storm” if it is to hit.
Again the best wealth transfer strategies I know of is to get informed and educate yourself. You can educate yourself online by researching what lead to the financial crisis so you can better understand how to prosper from it. Again crisis always brings great opportunity. More personal wealth was created during the great depression than any other time in history and this crisis will be no different. If you have the ability to inform yourself and take the necessary precautions I feel it is your social responsibility to do so. You cannot help the poor if you are one of them. So get informed, take action and prepare yourself so you are better able to help the inevitable tens of millions of victims this potential disaster will create.