Over the last few years there has been a sudden rise and acceptance of cryptocurrencies, such as Bitcoin and Litecoin, just to name a few. These are forms of on-line money. Money created by people, or business, as an alternate to currency created by countries. They are also one of the reasons that the economy will crash and go through a whole revolution.
Money is one of those things that everybody wants more of no matter what they actually say. We all want money, because without it you cannot do anything. There is evidence out there to say that the better your financial position in life, the better quality of life you have. So everybody wants money.
Because of the lust for money, it has allowed the on-line currencies to rise and become very popular. Another source e of money that people can use. For some, if you get in early you can make a lot of money from it. And in that lies the problem.
With all of these currencies there is no government regulation. The businesses themselves have regulation on how much money they make. However, they are business whose sole purpose is to make money for the owners, so if more money can be made from producing more on-line money then that is what will happen.
On-line currencies have not just been popular with people either. Business is seriously considering these currencies for payment of good in shops. Banks are, of course, looking at this and are now working with various on-line currencies to become partners.
This becomes a very dangerous situation. We have seen what banks have done with the economy over the last few years. How will they go when they have control of a currency and can produce as much as they what?
The first thing will be that the regulations that the original owner have put on to the currency will be scrapped. Banks will not want to be geld back, so they will start to produce more and more. The problem is the more that they produce the less value each dollar of that currency is worth.
The second thing is if each bank has aligned itself with a different currency, will we see a currency war. Banks will try to undercut each other to encourage people to use their currencies. On-line currency will flood the market. That has some real serious consequences.
If people flock to take up on-line currencies, it will devalue the national currencies, putting nations in a very bad financial spot. There is also the risk of hyperinflation, as banks will prints as much on-line currency as they like to encourage people to take it up, people will have more money, and the less the value of each currency becomes, so more as to be printed to help people buy goods. It becomes a vicious circle. If hyperinflation was to occur, then all of the on-line currencies and national currencies will be affected.
Due to the fact that on-line currencies are world wild, if hyperinflation was to occur in an on-line currency then we face the real threat of global hyperinflation.
So what can we do about this? Well the sad part is, nothing. All of this is out of our hands. The people who are in control are not interested in what we think. The people in control crashed the economy in 2007 and never got in trouble. They did not learn from their mistakes, they just learned that they can get away with it. So they are not worried about the effects on the economy as long as they make money.
If there is to be hyperinflation, then forget about holding on to money. Any money you have will become worthless very quickly. You will need to tangible assets. Things to can sell if needed to raise money.
I would also suggest having investment property. It is a tangible asset that will continue to pay you money, not matter what happens with hyperinflation. If we get hyperinflation, you can put the rent up to compensate.
Before you do anything you need to learn. You need to stay up to date with what is going on and prepare yourself for the upcoming crash. You need to research and do you due diligence before you buy anything.
You still have time before it all goes to hell, so take time in planning and executing your next move. You want to make sure that you are in a strong financial position. That way you can take a hit and still continue to move forward.
I predict that the next few years will not be pretty for a lot of people, so start taking the time to learn about what is happening. Stop relying on your work to provide money that could become worthless due to on-line currencies and start looking for a new way of doing things.
I have outlined all of this in my new book due out in November. Stay tunned and I will keep you informed on the release date.
Terry ShadwellYour Life Your Way
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