Advice, Personal Finance DINARRECAPS8 Advice, Personal Finance DINARRECAPS8

Could You Sell Your House And All Your Possessions?

.Could You Sell Your House And All Your Possessions?

By J. Money - MAY 6, 2020

Could you sell your house and all your possessions like Elon Musk?

Just saw this tweet and about spit my coffee out!

“I am selling almost all physical possessions. Will own no house.” Elon Musk

No house!! Or possessions!

From a BILLIONAIRE who can have anything and everything under the sun! Wowwww!!!

So WHY????

“Don’t need the cash. Devoting myself to Mars and Earth. Possession just weigh you down.” Elon Musk

“Possessions just weigh you down.” BOOM. ** truth right there.

And of course he still needs a place to live and HAS to keep at least one of his own cars, right???!, but seeing how he’s just listed a couple of his LA homes for sale, it looks like he’s starting to put his money where his keyboard is…

Could You Sell Your House And All Your Possessions?

By J. Money - MAY 6, 2020

Could you sell your house and all your possessions like Elon Musk?

Just saw this tweet and about spit my coffee out!

“I am selling almost all physical possessions. Will own no house.”  Elon Musk LINK

No house!! Or possessions!

From a BILLIONAIRE who can have anything and everything under the sun! Wowwww!!!

So WHY????

“Don’t need the cash. Devoting myself to Mars and Earth. Possession just weigh you down.”  Elon Musk LINK

“Possessions just weigh you down.” BOOM. ** truth right there.

And of course he still needs a place to live and HAS to keep at least one of his own cars, right???!, but seeing how he’s just listed a couple of his LA homes for sale, it looks like he’s starting to put his money where his keyboard is…

And I love him for it!! So does the rest of the minimalist community I’d imagine as it only amplifies our message! :) If a billionaire can keep their wants in check, why can’t the rest of us?? Or perhaps that’s precisely why he’s able to do it easier? Because the thrill of the “wants” are now gone?

Whatever the case, we all know that the more you own, the more you have to maintain, so if you’re going for pure FOCUS improvements this would certainly be a way to get it. LINK

And I’ll admit I’m a tad bit jealous too! Not for his money at all, but just for the fact he can make moves like that without his family getting all pissed off! ;) Though from another tweet he shot soon after, it looks like his gf isn’t exactly on his side, haha… So even more power to him!

If anyone gives you $hit, Elon, just pass along this line mic drop style:

Freedom > Money > Stuff

3 simple words that have gone on to immensely change my own life. We’re all in different phases of this, but it ultimately comes down to the freedom to CHOOSE our own lives instead of letting others choose for us…  “Choose Yourself” as James Altucher would say.  

Be sure to read comment section - lots of goodies there

To continue reading, please go to the original article here:

https://www.budgetsaresexy.com/could-you-sell-your-house-and-all-your-possessions-like-elon/

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Deep State Analysed

Deep State Analysed

The Final Wake Up Call By Peter B Meyer

DS-Criminals Undertake Everything To Keep Humanity From Awakening

The DS-Agenda Moves Power, Status and Wealth From The Public To Themselves

The Deep State-Structure

Regrettably, Still Too Many Unawakened People

Anger, Blackmail, Hatred, Aggression and Fear Are Deep State Seeds

Fake Corona Pandemic Turns Positive Result

Control Yields Corruption

Greed, poverty, inequality, environmental destruction, blackmail, war, how does the Deep State pull this off? In a large society where just a few make important decisions, how could those few be able to sit comfortably in their pile of wealth, while the rest of the populace turns into garbage?

How are a small group of these individuals being able to direct the current in which an entire society moves? Think about it for moment. They can pull this off, because we people are asleep!

Although the Deep State (DS) is an age-old planned entity, originally it may have been named differently. Insiders are of the opinion that ultimately it is the offspring of the military-industrial complex (MIC), while others say it came into being with the Federal Reserve Act in 1913.

Deep State Analysed

The Final Wake Up Call By Peter B Meyer

DS-Criminals Undertake Everything To Keep Humanity From Awakening

The DS-Agenda Moves Power, Status and Wealth From The Public To Themselves

The Deep State-Structure

Regrettably, Still Too Many Unawakened People

Anger, Blackmail, Hatred, Aggression and Fear Are Deep State Seeds

Fake Corona Pandemic Turns Positive Result

 Control Yields Corruption

Greed, poverty, inequality, environmental destruction, blackmail, war, how does the Deep State pull this off? In a large society where just a few make important decisions, how could those few be able to sit comfortably in their pile of wealth, while the rest of the populace turns into garbage?

How are a small group of these individuals being able to direct the current in which an entire society moves? Think about it for moment. They can pull this off, because we people are asleep!

Although the Deep State (DS) is an age-old planned entity, originally it may have been named differently. Insiders are of the opinion that ultimately it is the offspring of the military-industrial complex (MIC), while others say it came into being with the Federal Reserve Act in 1913.

Shadow-Government-300x169[1].png

According to FWC-research this group has set off centuries ago in Germany and originates from the Luciferian-Illuminati then already a well established cluster of secret satanic societies.

 Previously called, the shadow or secret government whose ultimate goal is the implementation of the New World Order, is pulling the strings on most of the world’s puppet-heads of state and captains of industry.

The term Deep State has recently gained traction, in addition to previously used other terms like; hidden government, cabal, Rothschild Khazarian Mafia, The Powers That Be, the Luciferians, Illuminati, Elite; all referencing to the same group of hidden Luciferian Satanists that hate and rob the people. –

The Deep State is an unelected insider-government within in almost every government. They are not interested in politics, just in money and power, and will continue to destroying our environment and populace, until they cannot do it anymore.

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A complex web of revolving doors between government, the military-industrial-complex (MIC), the financial industry controlled by the Rothschild clan, Wall Street, and Silicon Valley consolidates the interests of defence contractors, banksters, military operations, both foreign and domestic surveillance intelligence, and most important the media to mind control the public spreading illusionary information. Another branch of the DS; is the Rockefellers who turned science, education and healthcare into the medical mafia. Just to have named a few.

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The deep state hides in plain sight and goes far beyond the military-industrial complex. Although, many citizens are at least passively aware of the ‘surveillance state’ and the conspiracy between the government and the corporate heads of Big Financial Institutions, few people are aware of how many intelligence functions of the government have been outsourced to privatised groups that are not subject to oversight or accountability by the public.

What of is left, is a completely controlled and dominated government, paid for by the people, run by the ruling and intimidation of a small group of dominant satanic tyrants.

This quasi-secret DS is pulling the strings in almost every government around the world, and much is directed under the pressure of a corporatist ideology that thrives on deregulation, outsourcing, deindustrialisation, and financialization, yielding perpetual war and economic imperialism abroad, with the purpose to consolidating all interests of the oligarchy.

The principal source of the Deep State’s power is their control of the process of creating and distributing money, i.e. their ownership of almost all of the world’s central banks, and multinationals.

They have used this money-power vehicle to bribe, blackmail and assassinate people at top levels of power in order to enforce their control. They also control the corporate media and have been using every propaganda tool at their disposal to mind control society and rig the markets where necessary.

awakening-300x217[1].png

DS-Criminals Undertake Everything To To Keep Humanity From Awakening

The Deep State is always and everywhere it is a government within a government that operates off tax dollars but is not constrained by the constitution, nor are its machinations derailed by political shifts.

In this world – where the deep state functions with impunity – it doesn’t matter who is president so long the president and his team perpetuates the war on terror, which serves this interconnected web of corporate special interests groups with dishonest geopolitical objectives.

 Since the election of Donald Trump, his presidency and patriots play the role to exposing the Deep State cabal to the public; the “dark” criminal people who are doing everything possible to keep humanity from awakening. Nowadays, for the first time, the DS is desperate and is pulling out all the stops to prevent the change into a better world for all of us. Their hate against humanity stems from their fear for humanity as they know what humanity’s true capabilities are.

 President Trump is fulfilling the most dangerous and difficult task ever fixing a corrupt government by draining of the Deep State swamp, while being surrounded by and dealing with gangs on every level in government at home and abroad. He has to deal with criminal financial-, political-, professional-, and military- gangs.

All these gangs are the result of worldwide corruption in governments, the criminal monetary system, corrupt financial institutions and immoral corporate interests, motivated and guided through secret societies, like the Jesuits, Freemasons, Skull and Bones, to name a few.

dark-forces-300x175[1].png

The powerful dark forces within the Deep State are in particular organised against President Trump, the patriots and the population. As, they control the Security Community, the mainstream media to controlling the mind setting of most of the people. They brainwash the populace at every turn of events.

Even in Donald Trump’s own administration sits a nest of warmongers that together constitutes a full-blown war cabinet. These forces are always involved with their self-created battles, wars, taxes and tariffs.

They operate on old-fashioned mind control programming. Their currency- and trade- war is just as phony as the war on drugs, the war on crime, or the war on terror. None are worth fighting. And none are winnable. They are all designed to reward the elites at the peoples’ expense.

The entire government has been corrupted and undermined by banksters. Even, the populace has been misled, deceived, and plundered by banksters. World currencies have been manipulated for political and economic advantage by bankers, which are consequently approved by corrupt governments and supported and enforced by corrupt military and law enforcement officials.

Above and beyond currencies, other commodity supplies like precious metals and oil are rigged in the same way with same results and for the same reasons. The elite bankers and their political and military parasites get rich and everyone else has to foot the bill. The foundation of all this evil is their love for money and power.

 Since the emergence of the Rothschild banking empire in the late 18th century, the world has been held hostage by this conglomerate. Founded in Frankfurt Am Main, Germany by Mayer Amschel Bauer, who later changed his surname to Rothschild.

With his five sons, they built their global empire of debt-based central banking money. That has become the largest crime syndicate in the world. Murderous and crueller than any Mafia organisation.

Now, President Trump and the patriots are breaking-up their monopoly over global banking in order to free all people from debt money slavery.

With which the central bank economy and the debt money system are rendered useless. The new people’s economy is now expanding and will become fully operational under the GESARA Act, which is legally and financially ready to begin with debt cancellation. It is planned to become fully functional in the next six months, until December at the latest.

stealing-wealth-from-public-300x213[1].png

The DS-Agenda Moves Power, Status and Wealth From The Public To Themselves

People have been brainwashed, misled and deceived by these clowns and have been fed a steady diet of disinformation and false history, like the education propaganda in public schools, colleges and universities, to the degree that a great part of the population is living in an illusionary world that literally doesn’t exist, except in their minds.

The Deep State controls the Government, Parliament, the majority of Courts, most of the Universities, the Military Industrial Complex (MIC)- Pentagon, the bureaucracy, most of the Multinationals, stock & bond markets, the budgets and the press.

The Deep State is not a homogenous or centrally controlled organisation. It is not a conspiracy of spooks, meeting in secret and plotting a takeover of the country. Instead, it includes hundreds of thousands of people who already run the country – known as the DS-puppets.

It is a loose and unspoken alliance of cronies, politicians, bureaucrats, consultants, experts, economists, lobbyists, the press, professors, the whole medical care complex, and the MIC.

 There are so many rooms in this house, the walls bulge and the nails pop. The people who live in them have many different competing interests. But they have one single overriding common agenda; to move power, status and wealth from the public to themselves.

 That is what makes them different from us: They can get richer only by making us poorer. That, and only that, is the reason government spending, debt and fake money go only in one direction and that is rising.

 The Deep State-Structure

There are three pillars that support the Deep State. One controls the weaponry. Another looks for control over voters. The third controls the money.

deep-state-structure-300x226[1].png

The most powerful and dangerous of the three pillars is the one former President Dwight Eisenhower warned us about in his last speech before his retirement: the military-industrial complex – MIC. Since then the MIC has gotten much more complex, and much more powerful, after Eisenhower left office in 1961.

The second pillar is the politically correct (PC), mostly culturally liberal elite who dominate the Universities, the Media, Health Care, Education and Welfare complex.

All Financial institutions embodied by Wall Street is the third pillar. It is not interested in politics. It is interested in money itself. But it knows that today’s fake money comes from politics, and it does its part, along with the rest of the Deep State, to keep it flowing in their direction.

The western world won’t be the first section of the globe laid low by a combination of a Deep State, runaway spending, and a too-powerful military. The formula is classic. From ancient Rome to modern Venezuela, the road to ruin is clearly marked, well lit and well trod.

 Every dollar/euro spent or mandated by governments passes through The Swamp. Its agents, its contractors, its experts and its elite parasites that all take their cut. The money then makes them richer, more powerful, and abler to influence policy decisions.

The Deep State has gotten everything it wanted. So why are they overly helpful pro President Donald Trump? Think about it; the real purpose is to overthrow him in a coup to freeing up government, to enable the few to exploit the many. The credit money system is a clever way of doing so.

The bureaucracy will continue to churn out laws, statutes, codes and regulations that reinforce the DS powers and cherish systems and those of the police state and its corporate allies, rendering the rest of us petty criminals.

The Mainstream Media is the last bastion of the “Deep State” organised crime network that, and is people’s biggest enemy. Over the years in the past, the MSM has infiltrated and hijacked most, if not all institutions.

But, their days are numbered and the ensuing downfall will most likely be embarrassing and astonishing to all those sheeple unaware of what is unfolding. Eventually people will discover that the truth is even stranger than fiction.

many-unawakened-300x281[1].png

Regrettably; Still Too Many Unawakened People

It is shameful to seeing so many unawakened people, themselves identifying by wearing an ineffective face mask, being tossed to and fro, without having a clue as to what is really going on. Can’t they understand that the Virus pandemic is an “engineered” shake-up designed by the Deep State, to prepare healthy people for isolation in the New World Prison

This pandemic is the most disruptive social and financial event since World War II, with equally long-lasting consequences. Many will no doubt restrain spending in future years to rebuild savings, especially since the pandemic caught them at a time of high debts and short on financial reserves. Please, help everyone to come to their senses and surpass the illusion of false reality.

After two months of this nonsense, many under us are getting fed-up and are demanding the lockdowns to be ended. In response to the public outcry, some governments are planning to restart their economies and lift the restrictions. What this means, is that, after wasting two months on a failed strategy, many countries are ready to follow in Sweden’s footsteps.

 For now, the turning off of the economy is like shutting down the engines on a transatlantic flight. For a long time, the plane can stay in the air. Everything is suddenly quiet. Passengers don’t know what to think, and expect the pilot to put on the fuel supply again and gain altitude at any minute, as the plane is still gliding. But the passengers are getting more nervous. What happens when they try to land? Soon they will find out!

As the truth has to be known, the awake under us are responsible for sharing this message with passion to everyone they know. The hour is late and the timeframe we are living in is serious terrible, making it swiftly important to bring forth optimal awareness among the populace. There’s no time to loose.

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Anger, Blackmail, Hatred, Aggression And Fear Are The Deep State Seeds

Can we, the people – overcome the divide and conquer tactics used to quell dissent? That depends on how many of us wake up and unite in the importance of forging a future with freedom and prosperity.

It lies in our own hands, while help is on its way, as long we all become and remain positive and motivated to eradicate this Deep State Mafia, once and forever! Take into consideration; Our Creator has created planet Earth and its people, not to be destroyed by a small group of Luciferian Satanic Mafiosi, called the Deep State!

The amount of FEAR being spread in our society seems to be at an all-time high! Humanity is quickly evolving and many people are waking up, we have arrived in the midst of the most exciting time in our evolution!

Wake up, and see what is really happening around you. Everyone of us needs to be freed from debt slavery once and for all. The whole pandemic is a hoax, but you idiots that wear a face mask will believe anything, until they truly are awake!

 The sleepers have to come to their senses, the pandemic is fake phony and false because the hospitals are empty; the Government is their greatest enemy; the MSM spreads blatant lies; the Pope is a henchman of the Devil. People who don’t see this are brainwashed sheeple.

The quarantine, and social distancing is an imposed martial law, which by the White Hats is being used as cover to arrest and kill the Satanists that have hijacked our society.

Corona-Infections-300x218[1].png

 Fake Corona Pandemic Turns Positive Result

This fake Corona pandemic has spread around the world to showing us our new reality. Although, these trends were already underway for many years, the increased reliance and ability to working from home using modern technology necessary and useful, that now has simply being accelerated even faster. At least as fast as the speed as your Internet connection makes possible.

Be aware our society is changing rapidly and you are part of the change. Be prepared our today’s society is never going back to the normal of just a few months ago. Everything has changed and in order to survive this change you need to be inventive and innovative in your thinking.

Reassess all you once thought was set in stone and plot your road forward.

Every individual wants to improve his economic status. Many, but by no means all, will intuit that the surest way to do so is to produce more than they consume and save the difference. That creates capital, which can be invested in or loaned to productive enterprises.

Another reason for optimism is the development of technology – which is the ability to manipulate the material world to suit people’s desires.

Scientists and engineers develop technologies, that also adds to the supply of capital. The more complex technology becomes; the more outside capital is required. And always there are motivated individuals who want to participate in this process.

http://finalwakeupcall.info/en/2020/05/13/deep-state-analysed/

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Advice, Gold and Silver, Personal Finance DINARRECAPS8 Advice, Gold and Silver, Personal Finance DINARRECAPS8

How To Store Silver Bars and Coins At Home - Mike Maloney

.How To Store Silver Bars & Coins At Home - Mike Maloney

There are lots of reasons to buy silver—it’s a real asset, the coins are beautiful, it will likely outperform gold, and it’s more affordable. But that affordability comes with a catch. Once you start to accumulate, you quickly realize that silver requires a lot more storage space than gold.

It’s relatively easy to hide some gold coins in a sock drawer or cookie jar, but those hiding places are impractical for the same dollar amount of silver. So how do we store our silver bullion both efficiently and safely? And should it be stored at home anyway? This article has some potential solutions for those investors that are stacking silver…

How To Store Silver Bars and Coins At Home - Mike Maloney

There are lots of reasons to buy silver—it’s a real asset, the coins are beautiful, it will likely outperform gold, and it’s more affordable. But that affordability comes with a catch. Once you start to accumulate, you quickly realize that silver requires a lot more storage space than gold.

It’s relatively easy to hide some gold coins in a sock drawer or cookie jar, but those hiding places are impractical for the same dollar amount of silver. So how do we store our silver bullion both efficiently and safely? And should it be stored at home anyway? This article has some potential solutions for those investors that are stacking silver…

Storing Silver Bullion at Home

Everyone should keep some silver (and gold) in a place that is easily and immediately accessible. One advantage bullion offers is its high liquidity in a period of crisis—no worries about bank closures, lack of access to funds, or internet problems. So, if you have some bullion close by, you have the ability to fight through a crisis. On the other hand, if your silver is two days away or time-consuming to get to, its use as an emergency asset has diminished.

As Mike Maloney pointed out in his book, Guide to Investing in Gold and Silver, “I believe everyone should have gold and silver in his or her own private possession, where you can lay your hands on it, because they are one of the few financial assets that can be completely private and not part of the financial system.”

This doesn’t necessarily mean you should keep it inside your house. It means you want some of it readily accessible in an emergency, whether that emergency be a personal one or on a national scale.

If you enjoyed watching this video, be sure to check out the Hidden Secrets of Money website at https://www.hiddensecretsofmoney.com/. It’s a world-leading educational series by Mike Maloney, the bestselling author of the Guide to Investing in Gold & Silver.

As Mike explains in the series and his book, we live in an economic system that is made complicated by design. Basically, it’s set up so most people don’t even try to understand it. In Mike’s videos, he breaks down these concepts using easy-to-follow analogies, real pages from history, and animations that tie it all together.

Download Mike's best-selling book for free here: https://pages.goldsilver.com/freebook

919,400 views•Apr 4, 2017    https://www.youtube.com/watch?v=SXFLZub7DaU

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Advice, Economics, Personal Finance, Simon Black DINARRECAPS8 Advice, Economics, Personal Finance, Simon Black DINARRECAPS8

Infinite Money Printing: Fed Now Buying ETFs

Infinite Money Printing: Fed Now Buying ETFs

Notes From The Field By Simon Black May 12, 2020 Bahia Beach, Puerto Rico

May 12, 2020 Bahia Beach, Puerto Rico

Just when you thought they couldn’t come up with any more crazy ideas, the Federal Reserve announced last night that they will start buying Exchange Traded Funds, effective immediately.

Just to be clear, this means that the Fed is going to conjure money out of thin air, and then use that new money to buy ETFs.

But not just any ETF. The Fed is specifically targeting ETFs that own corporate bonds.

The key idea here is that the Fed is trying to bail out bankrupt companies across the Land of the Free.

Infinite Money Printing: Fed Now Buying ETFs

Notes From The Field By Simon Black   May 12, 2020  Bahia Beach, Puerto Rico

May 12, 2020 Bahia Beach, Puerto Rico

Just when you thought they couldn’t come up with any more crazy ideas, the Federal Reserve announced last night that they will start buying Exchange Traded Funds, effective immediately.

Just to be clear, this means that the Fed is going to conjure money out of thin air, and then use that new money to buy ETFs.

But not just any ETF. The Fed is specifically targeting ETFs that own corporate bonds.

The key idea here is that the Fed is trying to bail out bankrupt companies across the Land of the Free.

Under normal circumstances, most medium and large businesses regularly issue corporate bonds (which is a type of debt) to help fund their companies.

This is pretty normal; even very strong and healthy businesses regularly go into debt by issuing bonds.

For example, Apple has been wildly profitable for years. But the company has about $90 billion in debt according to its most recent financial statements, plus they just issued another $8 billion in bonds last week.

Companies all over the world do this, and the total size of the global corporate bond market is absolutely enormous-- tens of trillions of dollars.

The obvious problem is that there are countless businesses around the world, both big and small, that simply aren’t going to make it through this economic crisis.

Airlines, hotels, restaurant chains, factories, shipping companies, retail stores, daycare facilities, construction companies, etc. have all been devastated by the pandemic.

Most of these companies have borrowed extensively. And without any revenue, there’s likely going to be a giant wave of defaults in the corporate bond market.

American Airlines, for example, has $21 billion in debt. There’s practically zero chance they’ll be able to make interest payments, which will trigger a default of their corporate bonds.

Thousands of other companies are in a similar position; they won’t be able to make their payments.

The even bigger problem is that, eventually, bonds mature and need to be paid back.

Unlike the mortgage on your house, whose principal balance is slowly paid down over 20-30 years, most corporate bonds are interest-only.

They pay what’s called a ‘coupon’, which is a regular interest payment, and then the entire principal balance is paid back when the bond ‘matures’ after perhaps 7-10 years.

Usually when their corporate bonds mature, most companies simply issue new bonds. It’s sort of like a refinance; so instead of paying back $1 billion worth of bonds that are about to mature, the company will issue $1 billion in new bonds for another 10 years.

In this way they keep rolling over their debt. And in normal times, that approach typically works just fine.

But these are not normal times.

Right now the bond market is frozen solid. And very few investors want to buy bonds of, say, an airline or cruise operator.

But a lot of those companies have billions of dollars worth of bonds that are about to mature.

And without a way to roll over those bonds and refinance the debt, they’ll be in default… meaning most investors who own those bonds will suffer major losses.

This is a huge problem because it can cause a chain reaction across the entire financial system.

Let’s imagine “Rude Airways” has $10 billion worth of bonds that are about to mature.

But Rude Airways is out of cash and has no hope of generating revenue while the lockdowns are in place.

So instead of paying back the $10 billion, Rude Airways defaults.

“Big Ego Capital Partners” is a hedge fund that owns billions of dollars worth of Rude’s bonds. So when Rude Airways defaults, Big Ego is also wiped out.

Big Ego owes a lot of money to “Liars Bank”. So when Big Ego goes under, Liars Bank also takes a huge hit.

You get the idea. If thousands of companies constituting trillions of dollars worth of bonds don’t pay, then the chain reaction across the entire financial system will be nothing short of cataclysmic.

This is what the Fed is trying to prevent… with the only tool they have available: PRINTING MONEY.

So, again, the Fed is going to conjure money out of thin air, and use that money to buy corporate bonds and bond ETFs.

Their plan is to help companies like Rude Airways roll over their debts, and hopefully prevent a chain reaction of defaults across the entire financial system.

According to yesterday’s press release, the Fed estimates spending $750 billion initially, though it’s clear they could easily blow past that number.

That, of course, is on top of the trillions of dollars worth of other commitments they’ve already made, the $2.6 trillion they’ve already printed, and the trillions of dollars of other facilities they’ll create in the future.

I’ve been writing about this a lot lately, but at the risk of beating this horse to death, I believe it’s worth repeating:

There is so much we don’t know about the economic consequences of this pandemic. Will we see major inflation? Depression? Stagflation?

No one really knows for sure.

But one thing that has become totally obvious is that central banks around the world are going to continue printing incomprehensible sums of money-- this is ‘whatever it takes’ monetary policy.

I won’t bother opining on whether what they’re doing is right or wrong. It doesn’t matter.

The reality is that it’s happening; they’re printing ridiculous quantities of money, and that’s that. Nothing we can do will change that fact.

Our only decision is how we choose to react.

Again, there’s no playbook here, and every possible scenario is on the table.

But historically speaking, whenever central banks devalue their currencies by printing vast amounts of money, real assets (and especially gold and silver) generally tend to be safe havens from the monetary consequences.

To your freedom & prosperity, Simon Black, Founder, SovereignMan.com

https://www.sovereignman.com/trends/infinite-money-printing-fed-now-buying-etfs-27769/

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Searching for Meaning? Look to Your Most Extreme Experiences

.Searching for Meaning? Look to Your Most Extreme Experiences

By Jamie Friedlander April 3, 2020

In the past two years, my life has been hit with a series of difficult experiences. My grandmother died, I underwent an unexpectedly difficult shoulder surgery, my parents got divorced, and my father-in-law had a stroke. It felt like major challenges were hitting me left and right. A few months of calm would go by, and then bam, life would smack me right back in the face.

Despite how trying some of these experiences were, I found myself to be surprisingly calm, contemplative and resilient throughout each and every one.

The tough circumstances brought my husband and I closer. I grew more emotionally than I ever had, which led me to make better decisions and protect my boundaries. Plus, I began thinking more introspectively about life, which allowed me to connect more deeply with my writing.

It turns out my feelings are backed by science.

Searching for Meaning? Look to Your Most Extreme Experiences

By Jamie Friedlander  April 3, 2020

In the past two years, my life has been hit with a series of difficult experiences. My grandmother died, I underwent an unexpectedly difficult shoulder surgery, my parents got divorced, and my father-in-law had a stroke. It felt like major challenges were hitting me left and right. A few months of calm would go by, and then bam, life would smack me right back in the face.

Despite how trying some of these experiences were, I found myself to be surprisingly calm, contemplative and resilient throughout each and every one. 

The tough circumstances brought my husband and I closer. I grew more emotionally than I ever had, which led me to make better decisions and protect my boundaries. Plus, I began thinking more introspectively about life, which allowed me to connect more deeply with my writing.

It turns out my feelings are backed by science.

A 2019 study by Sean Murphy and Brock Bastian published in The Journal of Positive Psychology, “Emotionally extreme life experiences are more meaningful,” found that when it comes to creating a meaningful life, the intensity of an experience matters more than how positive or negative it was.

Prior to this study, ample research supported the theory that the valence of events, meaning how positive or negative they were, mattered most when considering which events in our lives were most meaningful. Some research supported the idea that positive events mattered most, while other research theorized that traumatic events were most significant in that they altered our understanding of the world and forced us to search for meaning.

This study attempted to determine whether it wasn’t the valence of an experience that mattered, but rather the emotional extremity of it. The authors conducted three studies, most of which asked participants to rate several things regarding significant life events:

How meaningful an experience was;

How pleasant or painful the experience was;

How emotionally intense the experience was;

Social connection, or how much the experience was shared with others;

How much contemplation the event stimulated;

How unique the experience was to the individual;

Whether participants thought fate was involved, meaning the event happened for a reason; and

How much personal growth the event inspired, which was measured by whether they felt the experience made them a better person.


To continue reading, please go to the original article here:

 https://www.success.com/searching-for-meaning-emotionally-extreme-experiences/

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Thoughts Are Living

.Thoughts Are Living

By Anna Von Reitz Monday, May 11, 2020

“Shhh!” My Grandmother would say with some annoyance. “Don’t you know that thoughts are living? And words are powerful!”

She said these things often enough and with enough seriousness to impress them firmly in my young mind, even if I didn’t fully understand what she was telling me at the time.

Yes, our thoughts contain life. They derive from life and are alive. Some thoughts are virtually immortal, while others, less substantial, are ephemeral.

Once you realize this, your attitude toward thought and your responsibility as a thought-producer changes.

Suddenly, you start thinking about thinking— and about the quality of your thought output.

Thoughts Are Living

By Anna Von Reitz  Monday, May 11, 2020

“Shhh!” My Grandmother would say with some annoyance.  “Don’t you know that thoughts are living?  And words are powerful!”

She said these things often enough and with enough seriousness to impress them firmly in my young mind, even if I didn’t  fully understand what she was telling me at the time.

Yes, our thoughts contain life.  They derive from life and are alive.  Some thoughts are virtually immortal, while others, less substantial, are ephemeral. 

Once you realize this, your attitude toward thought and your responsibility as a thought-producer changes.

Suddenly, you start thinking about thinking— and about the quality of your thought output.

Am I just spinning a lot of lies and impressions and half-regurgitated media drivel around in my head, or am I concentrating on worthy things and solid information?

Thought quality is important in and of itself, but it is additionally important because thought forms the basis of emotion and emotion motivates action in this world.

Correct and solid thinking is the basis for right feeling and action, so if you have been drifting along in a daze letting the Talking Heads on TV or the corporate executives at George Soros’s Disney, Inc., do your thinking for you— snap out of it.

Your living thoughts are what create your world.

Think about what I just said.

You want a better, kinder, safer, saner world?

Think better thoughts. 

Put an end to the media monopoly on your brain power.  Turn the knob.  Push the button. Cancel the subscription.

Guard your thoughts and train them.

Ask yourself— how did that “News” story make me feel?  What, if anything, did I gain out of it?

Does it give rise to anything desirable or comforting or uplifting or profitable? 

Your thoughts are living and your words are the personification of your thoughts.  They are the condensate of thinking, and they may stick in the mind of your grandchild —for good or evil— for decades after you speak them. 

If you put them down on paper or electronic media, your not-so-paltry words may outlast you by centuries. 

Here we are, in 2020, still reading Plato.

As everything on Earth is accelerating and the electromagnetic  fields are changing, you will notice a lot of odd things—- one of which is the speed with which your thoughts manifest as realities.

You will be thinking about a song, and moments or minutes later, it will be playing on the radio.

You will be worried about a debt, and the next call will be the debt collection agency.

You will think of your Sister, and at that moment, she will call.

And all of this synchronicity will be happening with increasing speed and strength of manifestation.

The things you dwell on and really concentrate your focus on will appear first as Thought-Forms.  At this stage, what you are creating is like a shadow or overlay on the day to day story line you are living.

It’s there, but it’s not totally materialized in your experience, because you are not raising —or lowering—your own pitch to interact with it. 

It’s like playing a song you want to hear on Station KNOW and keeping your own radio tuned to Station WBET.  The song you want manifests and plays but you don’t get to enjoy it.

Nonetheless, by focusing on what is good and true and useful and pondering on these things and day-dreaming about beautiful crystal streams and world peace, you draw these things into this reality.

Maybe as a result of your own limitations you won’t experience what you dream of and love and give your life force to, but other people and the planet as a whole, will.

And sooner or later the power of all our good thoughts made manifest, shines through. The collective energy of all our good thoughts wins,  and the world has no choice but to follow suit.

This is why we need to train ourselves to guard our thoughts —especially against useless, repetitive and negative programming by the Media Mouths.  See the YouTube video, “This is What Mind Control Looks Like. This is Project Mockingbird”.

This is also why we need to combine forces to dream together and choose to dream great things—- because thoughts are living and words like bricks, are enduring.

Many of you participated in the work of dissolving the Seal on Bardsey Island and the Great Palatine Seal in Rome.  That joint action changed the way energy flows around the planet and set the entire Continent of Africa free to live a richer, healthier, more abundant life.

This, in turn, makes Africa a better reservoir of life and source of energy for the whole planet.  It will no longer be limited or constricted as it has been in the past.  You helped accomplish that, just by sitting in your living room, thinking good thoughts of peace and liberation.

Want to do more?

Jerusalem has eight Gates, but some of the gates have been shut tight by stones and mortar since ancient times.  These same gates have been sealed spiritually for centuries.

This was done by Evil Doers in an attempt to gainsay the Living God, in order to prevent the True King from entering the city and to keep the Lion of Judah trapped inside.

Today, we will lay siege to these ancient evils and liberate Jerusalem.  Everyone stop a moment and see all eight gates of Jerusalem thrown open. 

It is dusk, early evening in Israel.

Instead of the Gates being shut, see in your mind’s eye, all eight Gates of Jerusalem standing wide open, and brilliant light pouring out from all of them, illuminating the surrounding countryside.

Feel a fresh wind flowing over the land. Picture sheets of gentle rain falling, washing away the dust, filling the streams and cisterns.  The parched land grows green again.  All is refreshed, open, breathing, alive, and peaceful. There is no longer any fear or threat of war, no longer any hatred or theft or unrest or sadness.

The Valley of Hinom has been cleansed, not with blood, but with love; the natural balance of Nature has been restored. All you can see or sense for many, many miles around is peace and joy and plenty.  Abundant life, abundant rain, abundant peace, and no fear or want of any kind. 

The olive trees sigh with relief.  The plums and cherries unfurl their blossoms.  The King of Kings walks the land and blesses it so that it will never know war or suffer again.

Feel the relief and the release of pent up energy.  All eight Gates are open at last.

 

http://www.paulstramer.net/2020/05/thoughts-are-living.html

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Great Lessons From Great Women

.Great Lessons From Great Women

By Tanja Hester 10 May 2020

A decade ago, J.D. shared some great lessons from great men. He had a wealth of material to draw from: biographies of historical figures from centuries ago, classic business texts, and the earliest self-help books.

If you want to compile lessons from great women, however, you don’t have the same sources, because women have not been considered “great” for much of history, and thus they’ve not been asked for their opinions on most things — certainly not financial matters! Multiply that times ten for women of color.

Today, I'd like to share some great lessons from great women. But the wisdom I’ve collected here comes primarily from media sources and speeches. It’s no less wise than the wisdom from books written by great men, and it applies to everyone of all genders, although it’s informed in many cases by much tougher life circumstances than the white men who lent their thoughts to this post’s counterpart.

Here are ten inspiring bits of wisdom that I’ve learned from great women.

Great Lessons From Great Women

By Tanja Hester  10 May 2020

A decade ago, J.D. shared some great lessons from great men. He had a wealth of material to draw from: biographies of historical figures from centuries ago, classic business texts, and the earliest self-help books.

If you want to compile lessons from great women, however, you don’t have the same sources, because women have not been considered “great” for much of history, and thus they’ve not been asked for their opinions on most things — certainly not financial matters! Multiply that times ten for women of color.

Today, I'd like to share some great lessons from great women. But the wisdom I’ve collected here comes primarily from media sources and speeches. It’s no less wise than the wisdom from books written by great men, and it applies to everyone of all genders, although it’s informed in many cases by much tougher life circumstances than the white men who lent their thoughts to this post’s counterpart.

Here are ten inspiring bits of wisdom that I’ve learned from great women.

Do the Work

“There are two kinds of people, those who do the work and those who take the credit. Try to be in the first group; there is less competition there.” – Indira Gandhi, India’s first (and only) female prime minister

We are trained to look for shortcuts in everything. More than that, we're surrounded by people who want the glory and the money associated with having done something without actually doing the thing.

But real success – and with it a sense of true accomplishment and fulfillment – only comes if we actually do the work. Success without having done the work feels hollow. And the belief that success should come instantly and with glory puts us in the wrong mindset to achieve big things.

I’d tweak Indira’s quote just a little, though, to say that it’s fine to claim credit – in fact you should! – but only after you’ve actually done the work.

Work first, credit second.

Define Success for Yourself

“To me success means effectiveness in the world, that I am able to carry my ideas and values into the world — that I am able to change it in positive ways.” – Maxine Hong Kingston, author

Our society tends to have a one-dimensional definition of success: To be successful is to have power, status, and money. While those things might satisfy some of us, it’s simply not true that everyone will feel equally fulfilled by having them, never mind that our current economy simply won’t allow most people to achieve those things.

Instead, let’s follow Maxine’s advice and define success for ourselves. She defines it as effectiveness at carrying her ideas and values into the world, which is true for me, too, but you get to choose your own definition.

Mistakes Aren’t Failure

“You know, failure hurts. Any kind of failure stings. If you live in the sting, you will undoubtedly fail. My way of getting past the sting is to say no, ‘I’m just not going to let this get me down.’” – Sonia Sotomayor, the first Latina justice on the U.S. Supreme Court

 

“To continue reading, please go to the original article here:

https://www.getrichslowly.org/great-women/

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Advice, Economics, Simon Black DINARRECAPS8 Advice, Economics, Simon Black DINARRECAPS8

A Brief History of the Last Crisis

.A Brief History of the Last Crisis

Notes From The Field By Simon Black May 11, 2020 Bahia Beach, Puerto Rico

The last time the economy blew up was back in 2008. Most of our readers probably remember it-- the global financial system almost collapsed.

Just prior to the 2008 crisis, housing was in a major, worldwide bubble. Central banks around the world had cut interest rates to near-zero levels, making it incredibly cheap to borrow money.

By 2005, lenders offered mortgages with teaser rates as low as 0.9%. And demand was furious. Buyers gobbled up homes as quickly as they came on the market, and housing prices reached all-time highs.

The housing market was so hot in the early 2000s that lenders stopped requiring borrowers to make a 20% down payment, and even extended these terms to borrowers with terrible credit.

A Brief History of the Last Crisis

Notes From The Field By Simon Black   May 11, 2020  Bahia Beach, Puerto Rico

The last time the economy blew up was back in 2008. Most of our readers probably remember it-- the global financial system almost collapsed.

Just prior to the 2008 crisis, housing was in a major, worldwide bubble. Central banks around the world had cut interest rates to near-zero levels, making it incredibly cheap to borrow money.

By 2005, lenders offered mortgages with teaser rates as low as 0.9%. And demand was furious. Buyers gobbled up homes as quickly as they came on the market, and housing prices reached all-time highs.

The housing market was so hot in the early 2000s that lenders stopped requiring borrowers to make a 20% down payment, and even extended these terms to borrowers with terrible credit.

Soon, banks were lending more than 100% of a home’s value, at ridiculously low mortgage rates, to borrowers who had a track record of not paying their debts, at a time when housing prices were at record highs.

What could have possibly gone wrong?!!?!??

Eventually the housing market went bust, and millions of people around the world stopped paying their mortgages.

Suddenly the homes were worth less than their mortgages, and banks were sitting on trillions of dollars worth of losses.

Several banks collapsed, and the whole financial system almost went down with them… triggering one of the biggest financial crises in history.

Asset prices everywhere crashed. Real estate prices fell. Global stock markets sank; the S&P 500 in the United States shed 57% of its value, losing more than a decade worth of gains.

And most major commodities fell too-- from oil to copper to cotton. Even gold and silver fell. Investors were in a panic, and many of them were forced to sell everything to raise cash.

Due to all the panic selling, silver fell by roughly 50%, and gold about 30%.

But by October 2008, governments and central banks around the world announced unprecedented stimulus programs. Government debt surged to levels never before seen in the history of the world, and central banks conjured trillions of dollars, euros, pounds, and yen out of thin air.

It was at this point that both gold and silver began rising rapidly.

You might also recall that inflation began to increase as a result of all this new debt and money printing.

In particular, food and fuel prices soared. In just six months from September 2010 to March 2011, for example, gasoline prices in the US rose 50%, from $2.61 to nearly $4. It was painful.

But the people responsible for creating such havoc were totally clueless.

In March 2011, the President of the Federal Reserve Bank of New York held a press conference to downplay everyone’s concerns and insist that inflation wasn’t a problem.

As proof, he told the audience that the price of an iPad 2 was lower than the price of an iPad 1… therefore (in his view) prices were actually falling.

It became known as the “Let them eat iPad” speech, and prompted one reporter to ask, "When was the last time, sir, that you went grocery shopping?" And another to exclaim, “I can’t eat an iPad!”

Real assets performed very well during this period. Though there were some exceptions.

The housing market bust was so severe that residential real estate prices in most of the world declined for several years.

The median home price in the United States, for example, didn’t start to rise again until 2012-- more than four years after the crisis started.

But raw land, and especially farmland, performed very well.

Precious metals also rose dramatically. Even though they both fell in the early days of the crisis, the price of gold would more than double in value, and the price of silver increased more than 5x.

We can’t say, of course, that this is exactly the scenario that will unfold this time around. The circumstances are obviously different.

But one key similarity between the financial crisis of 2008 and today is the tidal wave of debt and money printing.

Today they’re printing far more money than they printed back in 2008, because, frankly, the scope of the crisis is much greater.

By the end of 2019 there was a record $250 trillion worth of debt worldwide; that amount includes the value of all government debt, corporate debt, consumer debt, home mortgages, etc. worldwide.

If even a small percentage of that debt ends up going to money heaven, the losses will completely dwarf the 2008 financial crisis.

That’s why the Federal Reserve has already printed $2.5 trillion in the last two months alone. They’re trying to print money to cover the losses and lessen the economic impact of the pandemic.

They’ve also slashed interest rates to zero, and the futures market expects that rates will turn NEGATIVE by January.

It seems clear that central banks will print whatever it takes to ease the crisis.

And that could mean a lot of things. Perhaps we’ll see a return to the 1970s style stagflation (which we talked about last week.)

Or perhaps we’ll see a conditions similar to what happened in the last financial crisis.

There are plenty of possibilities, and no one knows for sure exactly what will happen next.

But if history is any guide, real assets typically perform very well when central banks print incomprehensible sums of money.

To your freedom & prosperity, Simon Black, Founder, SovereignMan.com

https://www.sovereignman.com/trends/a-brief-history-of-the-last-crisis-27750/ 

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The Future of the Economy May Depend On An Ancient Doctrine of the Past

The Future Of The Economy May Depend On An Ancient Doctrine Of The Past

By Tyler Durden Sun, 05/10/2020 - 16:20 Authored by Jonathan Turley

While some often seem to assume a zero tolerance approach for any risk of spread, we have no choice but to try to get this economy out of the current disastrous conditions. Unless we want to reintroduce a barter economy, we need to stop the exponential growth of debt coupled with the perilous decline of employment. The key may be individual choice and an ancient legal doctrine.

As pressure builds on states to open, many governors are starting to ease lockdown orders. That decision is not purely a public health matter but a public policy matter with interlaced issues of law, finance, and medicine. Congress and states must decide how legally to restart an economy in a world saturated by the coronavirus. With expensive recovery measures and a federal deficit projected at more than $30 trillion by the summer, we face a real possibility of a lost generation due to crippling debt and chronic unemployment. So this means businesses and institutions will need to operate in a way that is sustainable instead of just symbolic.

The legal challenge here is to open up the country fully when we cannot reasonably expect any vaccination program until next year, according to most experts. Thus, in the interim, our best hope may be an ancient legal doctrine that extends back to Roman law in the sixth century.

The Future Of The Economy May Depend On An Ancient Doctrine Of The Past

By Tyler Durden Sun, 05/10/2020 - 16:20 Authored by Jonathan Turley

While some often seem to assume a zero tolerance approach for any risk of spread, we have no choice but to try to get this economy out of the current disastrous conditions.  Unless we want to reintroduce a barter economy, we need to stop the exponential growth of debt coupled with the perilous decline of employment.  The key may be individual choice and an ancient legal doctrine.

As pressure builds on states to open, many governors are starting to ease lockdown orders. That decision is not purely a public health matter but a public policy matter with interlaced issues of law, finance, and medicine. Congress and states must decide how legally to restart an economy in a world saturated by the coronavirus. With expensive recovery measures and a federal deficit projected at more than $30 trillion by the summer, we face a real possibility of a lost generation due to crippling debt and chronic unemployment. So this means businesses and institutions will need to operate in a way that is sustainable instead of just symbolic.

The legal challenge here is to open up the country fully when we cannot reasonably expect any vaccination program until next year, according to most experts. Thus, in the interim, our best hope may be an ancient legal doctrine that extends back to Roman law in the sixth century.

“Volenti non fit injuria” means “no wrong is done to one who consents,” and it became the solid foundation for what we know today as “assumption of risk.” The doctrine encapsulates the concept of personal responsibility and choice. Thus, any economic opening precisely requires not liability but choice.

But assumption of risk, which began as a doctrine in employment liability cases in the United States, has already been on the decline in this country. Assumption was an absolute defense, but most states have now adopted an alternative “comparative negligence” approach in which jurors assign the portion of responsibility of each party in their verdict.

If the plaintiff or the injured party is found to be 20 percent at fault, the award is reduced by that amount. Some states apply an additional rule that if plaintiffs are more than 50 percent at fault, then they are barred from any recovery. The problem for businesses in this pandemic is that every case presents different arguable facts as to who is more at fault from the spread of the coronavirus. Is it the individual or the establishment?

Strong defenses do exist, including factual causation where a plaintiff needs to establish that a particular location was the source. Indeed, it is difficult to imagine how someone could prevail against a business on the speculation that he or she contracted the disease from any single contact inside the business.

Yet states are adding different conditions and responsibilities that could fuel claims. There could also be a tsunami of litigation of strike lawsuits, cases brought with the intention of forcing a quick settlement, and even stronger liability lawsuits. If there will be a reliance on individual choice without the exposure to prohibitive litigation costs, then there is a need for uniform legislation on the state level and possibly the federal level.

Negligence can be wildly difficult to define in a world after a pandemic, where businesses are not being careless but must operate in a high risk environment. Any economic recovery needs to occur at a time when the majority of customers will be neither immune nor vaccinated against the disease. Businesses cannot question every group to determine if they are all family members or what each of their personal medical conditions are.

 

To continue reading, please go to the original article here:

https://www.zerohedge.com/political/future-economy-may-depend-ancient-doctrine-past

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Dealing With and Getting Through Financial Emergencies

Dealing With and Getting Through Financial Emergencies

Ask the Advisor – Dealing With and Getting Through Financial Emergencies

Posted on May 6, 2020 by Mark Seed

To quote Mr. Mike Tyson once again on my site:

“Everybody has a plan until they get punched in the mouth.”

-Mike Tyson, former heavyweight boxing champion.

How true.

I’ve been doing a lot of reflecting and thinking during this financial crisis – given we all got punched in the mouth to some degree. In working towards our personal goals we’ll have deal with and get through some financial emergencies from time to time.

Recently, I’ve written about the following as I ponder what insane market and economic calamity has occurred over the last couple of months:

How Might I Prepare For An Upcoming Global Recession?

Dealing With and Getting Through Financial Emergencies

Ask the Advisor – Dealing With and Getting Through Financial Emergencies

Posted on May 6, 2020 by Mark Seed

To quote Mr. Mike Tyson once again on my site:

“Everybody has a plan until they get punched in the mouth.”

-Mike Tyson, former heavyweight boxing champion.

How true.

I’ve been doing a lot of reflecting and thinking during this financial crisis – given we all got punched in the mouth to some degree. In working towards our personal goals we’ll have deal with and get through some financial emergencies from time to time.

Recently, I’ve written about the following as I ponder what insane market and economic calamity has occurred over the last couple of months:

How Might I Prepare For An Upcoming Global Recession?

With my inbox overflowing in recent weeks with questions, emails and more financial perspectives from readers, I thought it would be interesting for today’s post to bounce a few questions, a few theories off an advice-only, Certified Financial Planner® with Money Coaches Canada.

Enter in, Mr. Steve Bridge!  Steve, let’s dive right in…

I recently got a question in my inbox about saving versus investing. I see savings as money to be spent or needed short-term (say, within a year or so). That should be in cash. I see investing as money to be grown long-term (not needed for another 5+ years). With many people dealing with a variety of financial changes and challenges right now do the same way and why or why not?

I agree with your definition, Mark. And one is not necessarily more important than the other. We hear about investing all the time, probably because it is more exciting, but saving is just as important to financial success. In fact, you could argue that saving is more important, because if you can’t save, you won’t have money to invest. Saving has to come first!

Not having savings could be a sign that you are spending more than you are making (living above your means) which, as we’ll touch on below, is a serious problem. This leads us around to cash flow, the most important piece of financial security and success (which we’ll also discuss below).

This COVID-19 crisis has many people rethinking the value of any emergency fund. I’ve received a number of emails on this subject. Although I can’t speak for what others need or want, I know we keep our emergency fund rather constant at this minimum level. What are your suggestions to help people establish a fund after they deal with this crisis?

First of all, I love that you have an emergency fund, and the reasons you state in your article are spot on. When an unforeseen event happens, the emergency itself is stressful enough; adding financial worry on top of it makes it even worse. The emergency fund takes one stressor (the financial implication of the event) away.

In my opinion, a reasonable target for an emergency fund should be a minimum of three months’ necessary expenses. Some people say six and I have even heard of having an entire year (this seems excessive to me), but to me three seems like a reasonable number to aim for. Retirees or near retirees may already have significant amounts of cash on hand for lifestyle spending or guaranteed retirement income from a pension, so this guideline doesn’t necessarily apply to them.

 

To continue reading, please go to the original article here:

https://www.myownadvisor.ca/ask-the-advisor-dealing-with-and-getting-through-financial-emergencies/

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The Psychology of Money

.The Psychology of Money

Jun 1, 2018 by Morgan Housel

Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way.

Grace Groner was orphaned at age 12. She never married. She never had kids. She never drove a car. She lived most of her life alone in a one-bedroom house and worked her whole career as a secretary. She was, by all accounts, a lovely lady. But she lived a humble and quiet life. That made the $7 million she left to charity after her death in 2010 at age 100 all the more confusing. People who knew her asked: Where did Grace get all that money?

But there was no secret. There was no inheritance. Grace took humble savings from a meager salary and enjoyed eighty years of hands-off compounding in the stock market. That was it.

Weeks after Grace died, an unrelated investing story hit the news.

Richard Fuscone, former vice chairman of Merrill Lynch’s Latin America division, declared personal bankruptcy, fighting off foreclosure on two homes, one of which was nearly 20,000 square feet and had a $66,000 a month mortgage.

Fuscone was the opposite of Grace Groner; educated at Harvard and University of Chicago, he became so successful in the investment industry that he retired in his 40s to “pursue personal and charitable interests.” But heavy borrowing and illiquid investments did him in.

The Psychology of Money

Jun 1, 2018 by Morgan Housel

Let me tell you the story of two investors, neither of whom knew each other, but whose paths crossed in an interesting way.

Grace Groner was orphaned at age 12. She never married. She never had kids. She never drove a car. She lived most of her life alone in a one-bedroom house and worked her whole career as a secretary. She was, by all accounts, a lovely lady. But she lived a humble and quiet life. That made the $7 million she left to charity after her death in 2010 at age 100 all the more confusing. People who knew her asked: Where did Grace get all that money?

But there was no secret. There was no inheritance. Grace took humble savings from a meager salary and enjoyed eighty years of hands-off compounding in the stock market. That was it.

Weeks after Grace died, an unrelated investing story hit the news.

Richard Fuscone, former vice chairman of Merrill Lynch’s Latin America division, declared personal bankruptcy, fighting off foreclosure on two homes, one of which was nearly 20,000 square feet and had a $66,000 a month mortgage.

Fuscone was the opposite of Grace Groner; educated at Harvard and University of Chicago, he became so successful in the investment industry that he retired in his 40s to “pursue personal and charitable interests.” But heavy borrowing and illiquid investments did him in.

The same year Grace Goner left a veritable fortune to charity, Richard stood before a bankruptcy judge and declared: “I have been devastated by the financial crisis … The only source of liquidity is whatever my wife is able to sell in terms of personal furnishings.”

The purpose of these stories is not to say you should be like Grace and avoid being like Richard. It’s to point out that there is no other field where these stories are even possible.

In what other field does someone with no education, no relevant experience, no resources, and no connections vastly outperform someone with the best education, the most relevant experiences, the best resources and the best connections? There will never be a story of a Grace Groner performing heart surgery better than a Harvard-trained cardiologist. Or building a faster chip than Apple’s engineers. Unthinkable.

But these stories happen in investing.

That’s because investing is not the study of finance. It’s the study of how people behave with money. And behavior is hard to teach, even to really smart people. You can’t sum up behavior with formulas to memorize or spreadsheet models to follow. Behavior is inborn, varies by person, is hard to measure, changes over time, and people are prone to deny its existence, especially when describing themselves.

Grace and Richard show that managing money isn’t necessarily about what you know; it’s how you behave. But that’s not how finance is typically taught or discussed. The finance industry talks too much about what to do, and not enough about what happens in your head when you try to do it.

This report describes 20 flaws, biases, and causes of bad behavior I’ve seen pop up often when people deal with money.

To continue reading, please go to the original article here:

https://www.collaborativefund.com/blog/the-psychology-of-money/

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