Portrait of Scrooge McDuck by ~jaggudada on deviantART

When learning new things, be it a language, a skill and/or a trade, it can sometimes prove difficult and at times very challenging.

For many learning about personal finance, the economy and money – how it works, and how to make it work harder for you, can be daunting and disingenuous due to our understanding of and interest in the subject(s); as well as our limiting beliefs with money and ultimately our relationship with it because of those beliefs.

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When most people think of Greece two things usually springs to mind – their sprawling ancient history and the numerous plays depicting the various misfortunes of life, know as tragedies. However, this is all changing now with current day tragedy of deficits, cuts and riots unfolding every day in Greece!

Since the credit crunch of 2008 Greece has been bailed out several times by the ECB and IMF, but this has not necessarily been to save Greece but to save the Euro and the shaky foundations on which the Eurozone is currently standing on.

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Last week I wrote a blog post about why one needs to become financially savvy with gold and in that post I said would write in my next post why gold has pulled back and how this can benefit you and your family’s financial future.

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to purchase gold?

Depending how you look at it some would say no and some would say yes! Here’s why….

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I have been following Mike Maloney, the author of the book ‘Rich Dad’s Advisors: Guide to Investing in Gold & Silver – Protect Your Financial Future’ for a while now. He is very knowledgeable not only on gold and silver but wealth cycles on a whole; which is a very interesting subject.

Just like this video below, Mike’s book is a must read and I totally recommend it. His style, as you will see in the video below, is frank, direct and logical.  So if you are interested in protecting your finances and assets, as well as understanding why the economy is in the mess that it is, then you need to watch this video…Today!

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Gold, as you know, is a hedge against inflation, which in the UK stands at 3.5%; 1.5% above target. It is the oldest currency in the world, and now that I understand what money is and how it works, I appreciate why it is.  Gold preserves your money, your assets! And will always do so. Full stop!

‘No paper currency’ Tim Price writes in this week’s Money Week ‘has ever persisted. The fate of all paper currencies is to deteriorate over time towards their inherent value, which is nothing.’ This statement is backed up in the following video ‘The Demise of the British Pound through Monetary Inflation’,

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Due to the current global economic crisis the subject of pensions and savings on a whole, have been in and out of the media on a consistent basis, and with the talks of inflation and whether the Bank of England is going to increase interest rates again and the consequences of that, the consensus is that the idea and structure of a pension and with it the signification of retirement is no longer viable in the 21^st Century.

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So, who saw the programme on the UK broadcast channel – Channel 4 last week Thursday 11^th November? It was all about the UK’s debt level and why the austerity cuts, although necessary are not going to resolve our debt problem, as explained in the documentary (see below for the link).

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Not for a while yet?! Today the UK Government announced their cuts to the public sector as part of the austerity package for the next 4 years. These cuts are due to the last recession and the consequently stagnation of the global economy. These cuts will affect everyone so it is important to keep abreast of what is going on, irrelevant if you want to become financially savvy or not!  For further information on these cuts, click here.

As a consequence I thought I would write this piece in order to further educate you on the importance of understanding what Inflation, Deflation and Hyperinflation is, and how each one can, and will, affect our economy, our lives and our money.

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Do you know the difference between financial security, financial freedom and financial independence? Interestingly enough, not many people do! And if I were to ask a number of individuals from mainstream society, which of the three would they want for themselves most would choose financial security, as it is what they understand most. This is not necessarily a bad thing, but neither is it a great thing because who or what exactly is responsible for providing that (financial) security?

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