Topic: Advice for the Poor | |
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EAT THE RICH "They don't have rich? let them eat their words." My very good friend Paul, who is no longer on speaking terms with me, but he is my master and supervisor, said once, "they should set up counselling for the poor to teach them how to deal with their hunger." Sounds like a real piece of work. He was being sarcastic. |
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The problem is, many people still think in dollars. The real reason for inflation and poor economy has to do with the devaluation of the dollar.
Most of those "rich people" you mention aren't rich because they got plenty of dollars, but plenty of investments in various other currencies, precious metals and property. Let me give you a future prognosis: The dollar will loose its reserve currency status very soon. China is dumping as much US dollar debt as possible, while making agreement with other nations, such as Russia and Japan to trade in their own currencies instead. Iran has dumped it 2 years ago, Venezuela paid its debts and shut the World Bank out of its monetary dealings completely. That's why many of these nations are on the sh_t list of USA, nothing to do with war or nukes or craziness. Another example: 10 years ago, you could go to Europe and pay with dollars most places. They took it if you had nothing else. Nowadays, they won't. They want Euros or British pounds. It's a fact. At the Taj Mahal in India, they dont' accept US dollars anymore, and some countries you gonna have a hard time exchanging it and you gonna get a very bad exchange rate. In Mexico (!) , the HBSC bank stopped taking dollars, because they don't want to have it piled there, because they are afraid if it gets seriously devalued, they gonna be left off with a bunch of useless piece of papers. The only reason US is able to hang on for now, because the FED can print as much money as they want, and that's exactly what they are doing. But it's a short term solution and it's a double edged sword, because the more they print, the more they inflate the dollar, to a point where it's going to loose so much value, that it will be pointless to be used. So, just to let you know, it's not the gas prices or food prices went up, but the dollar lost more value very fast. If you want my personal opinion, I think there is another crash coming, and it's gonna make the 2008 real-estate crisis look like a minor glitch. |
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Really does not matter what currency you use.
Poor is Poor. Advising a poor person to buy currency has the same effect on their lives as would a discussion on the proper dress code at the opera... They really don't give a tinkers dam... What I have read in this thread is a bitter continuation of the 'this side is right that is wrong' debate... With very little thought of actually 'advising' a poor person. |
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No one can give you an exact return for an investment. Currency is like a stock. It can go up and down
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