What Happens If Oil Prices Go Negative?

What Happens If Oil Prices Go Negative?

By Tyler Durden  Sun, 03/22/2020

Authored by Sturart Barnes via OilPrice.com, 

Various reports hit the news feeds today quoting a deliberately headline-grabbing statement by Paul Sankey, managing director at Mizuho Securities, in which he is reported as saying, “Oil prices can go negative.”

That is, they could as a combination of Saudi Arabia (and Russia) flooding the market with increased oil and the market running headlong into COVID-19-induced curtailment of activity that is suppressing consumption, which combined will create the perfect storm of excess supply.

In reality, inventory levels are already rising.

CNN quotes Sankey, who said global oil demand is only around 100 million barrels per day.

However, the economic fallout from the coronavirus pandemic could crash demand by up to 20 percent.

This would create a 20 million barrel-per-day surplus of oil in the market that would rapidly exceed storage capacity, forcing oil producers to pay customers to buy the commodity – hence, in effect, negative oil prices.

[ZH: Think that's crazy? Think again... as we detailed previously, NatGas prices went negative in 2018] 

 The American government plans to purchase a total of 77 million barrels of oil starting within weeks the article states, but according to Sankey, this can only be done at a rate of 2 million barrels per day, leaving a massive excess that will be looking for a home.

Brent oil prices have already fallen to the lowest level for 17 years. The consequences for the U.S. oil industry if a coronavirus-induced recession drives down demand could be catastrophic.

West Texas Intermediate crude (WTI) collapsed by a staggering 19.2 percent to $22 while the Mexican Basket is down 22.4 percent.

For a short while, hedges will protect producers and they will continue to pump oil. While that will protect producers for a while, it encourages counter-cyclical practices; producers should be cutting back but instead will probably continue to pump and ship into store.

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

https://www.zerohedge.com/energy/what-happens-if-oil-prices-go-negative

About Gold Fringes and Missing Seals and Martial Law

About Gold Fringes and Missing Seals and Martial Law

By Anna Von Reitz   Monday, March 23, 2020

I have commented about this topic before, but I am seeing a lot of confusion and questions out there regarding the changes in flags and presidential seals and the absence of the UN flag and other trappings in recent Whitehouse Press Conferences, etc.

The gold-fringed, sometimes called "Executive Flag", is technically called the "National Colors" and has been used to operate this country under "Color of Law" by the Pope and the British Interlopers.

It has no more real "power" or significance than a piece of fancy bunting.  It is decorative and meant to "evoke" an "appearance" of the government of this country----- without really doing so.  Just like the "appearance of justice" that the Courts have been giving us, it's an illusion, an apparition, an impression of one thing, while in fact, something else is going on. 

The actual flag of the Federal Republic (the American Confederation missing since 1860) can be seen on display, struck, in the Capitol Rotunda and House and Senate Chambers, where it is seen hanging in a vertical "struck" position, giving notice to everyone who sees it and understands what it means, that that "government" is struck, incompetent, bankrupt, or otherwise in "abeyance" and "distress".

This struck flag has been there in plain view for over a 150 years, and all the Americans and especially all the U.S. Military personnel who saw this in person or on C-Span over the years, never connected the dots. 

I excuse average Americans for not knowing international flag protocol --- but our highest ranking Generals and Admirals and the various generations of United States Senators and Congressional Members all "missed the point" too?  Really?  How credible is that?

Everything I have told you about the Confederacy never being Reconstructed and the Confederacy "accidentally-on-purpose" being "mistaken" as the actual government of this country is true.  The evidence is all around you, in your face.

Also, please note, that this country has been under Martial Law since 1863, as a direct result of the circumstance described above.  Any talk about oh, wow, we're under martial law! --- as if this is anything new or different, is silly.  

The only things "new" here is that: (1) the People of this country woke up, declared their correct political status, assembled their States of the Union, and are operating their unincorporated (sovereign) Federation of States, The United States of America, and (2) sensing that things were not going well for them, the Board of Directors of the Municipal Corporation of the District of Columbia decided to seek bankruptcy and run  That bankruptcy of the UNITED STATES, INC., is in the process of final settlement right now.

As a result you will no longer be hearing references to the "President of "the" United States" and no longer seeing the associated Seal of that Office in use, nor will you see the United Nations flag, because the Territorial Government, doing business as "the" United States of America, never joined the United Nations.  

In truth and in fact, our unincorporated Federation of States, doing business as The United States of America delegated all the "Delegated Powers" ever granted to any of the Federal Subcontractors or ever exercised by them for us, so the "pretense" that the Confederacy (our primary Federal Subcontractor) was ever necessary for our government to function is ridiculous. 

It is also patently false to imagine that the "Powers" delegated to the Confederacy somehow devolved upon the remaining Federal Subcontractors as a result of Civil War.  The Powers delegated to the Confederacy returned to the Federation of States the moment that the Confederation ceased to function in March of 1861 by Operation of Law.

Any supposition otherwise is predicated merely on the fact that the States and People were not properly given Notice and information necessary to take the proper action and complete the Reconstruction.  

We were instead purposefully mislead by the British Monarch operating in Breach of Trust, who substituted their Territorial "States of States" for our American States of States, like a cuckoo bird in our nest. 

Unfortunately, many American bureaucrats were fooled by this deception or proved disloyal or were bought off, with the result that this deception and substitution went unnoticed for over a century and a half.

Mr. Trump is hereby authorized and instructed to enter the Capitol and set the American flag in the Rotunda, House, and Senate Chambers in the upright position --- horizontal. 

Our flag is to be flown in the upright position in the Capitol Rotunda and in the House and the Senate Chambers now and forevermore.

Any "emergency" occasioned by the disappearance of the Confederation is resolved by the presence and assembly of the American States and People and their unincorporated Federation of the States of the Union doing business as The United States of America, the Delegator of all Powers ever delegated to the Confederation or any other Federal Subcontractor.

All members of the Territorial Government are to be fully informed as are members of all world governments.  The American States and People are home, populating their States of the Union, running their State Assemblies, settling their business, operating their Federation of States, working toward the completion of the long-overdue Reconstruction of the Federal Confederation of States of States. 

While all these tasks and duties are being accomplished, we rely upon Mr. Trump and the Treaties and Contracts we maintain with the Government of Westminster and with the Government of Her Majesty, Elizabeth II, to provide us with the uncontested and complete re-venue of all the assets owed to us and to the land, sea, and soil jurisdiction of this country, 

Our assets, both public and private, are to be returned to the control of the American States and People and to our rightful international government, The United States of America, complete with the loyal and proper assistance and compliance of the Territorial United States Government throughout the process of restoration and reconstruction.  

http://www.paulstramer.net/

Zimbabwe Partnering Up With Fintech For Gold-Backed Digital Currency

Zimbabwe Partnering Up With Fintech For Gold-Backed Digital Currency

Zimbabwe has already seen the surge of bitcoin casinos along with different online websites

• In the most recent effort to embrace the fintech revolution, that country has set out to partner up with local fintech professionals to create its first-ever gold-backed digital cryptocurrency.

• According to Apollo, this isn't the only project that the company will be collaborating with the Zimbabwe government on and there is much more in store for these two.

Zimbabwe is starting to embrace the fintech more and more, seeing the potential of the technology and how it could make life easier for a lot of citizens.

In the most recent effort to embrace the fintech revolution, that country has set out to partner up with local fintech professionals to create its first-ever gold-backed digital cryptocurrency.

The government will be backing up the entire process and hopefully, we will be seeing the results of this collaboration soon enough.

Even though the information has not been confirmed by the government quite yet, the local residents are saying that the deal is pretty much done and on top of that, recently the CEO of Apollo Fintech recently publicly confirmed that the collaborations with the Zimbabwe government is in place and the citizens will be able to access a gold-backed cryptocurrency very soon.

Digital currencies have been gaining more popularity across the country and more businesses are now offering the option to pay with digital currencies, most often with popular cryptocurrencies like bitcoin, etherium and etc.

Zimbabwe has already seen the surge of bitcoin casinos along with different online websites that offer you to make your deposits through cryptocurrencies online.

Who is the company behind this project

Apollo is a world-famous blockchain technology provider and probably the fastest as well.

The friction payment methods have been rolling out across Zimbabwe for a while now, but the country wants to explore the cryptocurrency industry more and focus on the blockchain technology in order to deliver the fastest services to their citizens while guaranteeing their security and transparency of the entire process.

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

https://www.the-star.co.ke/business/africa/2020-03-19-zimbabwe-partnering-up-with-fintech-for-gold-backed-digital-currency/

Dinarians, Don’t Lose Sight of Your Humanity

Dinarians, Don’t Lose Sight of Your Humanity

By Muhammad Ali

For those who have been subscribers to my website and following my weekly newsletters know that I have a column entitled "Mr. Seymour Good Column", which in case you haven't figured it out, translates to 'See More Good".

I have posted positive videos of encouragement on the power of doing good and having a positive attitude.  If you would like to follow my recommendations, please subscribe to my weekly newsletters thru my website.

The reason why we need this reminder is that it seems the sounds of Alert bells are going off on our RV and looks like we are finally there.  

I would like to remind us all, not to lose sight of our humanity, as when our bank accounts start to fill up the devils will come running to us and do whatever it takes to separate our blessed wealth from our hands, preventing us from doing good.

God has chosen us for a reason, we have all bought currency in hopes of a better future and God has promised this to those who kept the faith.  God has made us wait for His reasons, and I believe in the time to come He will show us these reasons.  So please do not lose sight of this and when it comes time to give, give generously as all of this wealth is a temporary loan to us from the Creator.

For some people, along this journey, they didn't make it, either sold off their currency or passed away.  Just a few days ago, one of my Dinarians here in my Malaysian group, passed away from a major stroke.  He was 51 and I just had another Dinarian due to financial reasons had to sell off his currency.

We are still holding our currency and still breathing and for those reasons we need to be grateful and give thanks to the Almighty.  

I recently wrote an article called "Family Planning" with advice tips on giving money anonymously.  If you missed reading the article you can find it on my website in the Articles menu.

In our after RV days, God will send people to us, maybe out of the blue, asking for help or we may even pass by someone who looks like they could use some help and I do not mean that you must go help every single homeless person in your state or give money to a druggie so he can get his next fix.

On the contrary, I am suggesting that we may be out and may come across someone in need of help.  You may be in a community WhatsApp group and there could be a single mother of 3 kids, in need of supplies to help their kids go to school.  Whatever the case may be, try not to lose sight of your humanity, not everyone in the world will be after your money. 

There are ways to help people from a far without them knowing who you are, as from some of the Seymour Good videos that I shared in my newsletters and then there are times, you want to help people just to see the joy it brings them and letting them know it was you that helped them. 

Seeing the tears roll down their eyes and the contagious tears and feelings that magically engulfs you too.  This super incredible joyous feeling is something that I encourage everyone to experience, if you haven't already.  But, just to warn you, you may want to crave that wonderful feeling again and again.

So how do you know when someone genuinely needs your help or they're after your money?

Alright let's look at the negative first; here is a link to '11 Signs Someone Is Using You and What to Do About It' ( https://pairedlife.com/friendship/9-Signs-Someone-is-Using-You-How-to-Tell-If-Your-Friend-is-Using-You-For-Money-Social-Status-or-Anything-Else ). 

Remember that these signs will work only for those who you know.  For those people that you do not know that you met out of the blue, you don't really need to categorize them as they won't be after your money but your genuine help.  

Another important point that I would like to add is draw a line between helping others and your personal safety and security.  For example, you may want to help others in another country but you don't know the language and customs over there and may soon find yourself in dangerous situations. 

In these types of cases best you work within a group that has a system in place.  For example, organizations like Doctors for Humanity or Physicians for Humanity.  You can either donate and sponsor medical trips or donate and travel with them so you can see your contribution first hand and then you would be safe within their umbrella.

There is a Chinese saying that goes: “If you want happiness for an hour, take a nap.  If you want happiness for a day, go fishing.  If you want happiness for a year, inherit a fortune.  If you want happiness for a lifetime, help somebody.”  For centuries, the greatest thinkers have suggested the same thing: Happiness is found in helping others.

“The purpose of human life is to serve and to show compassion and the will to help others,” Albert Schweitzer.

Helping others or “Doing unto others” could very well be one of the best things you can do for yourself.

Turns out that being of service, volunteering to help an organization, a colleague or friend, offering to help not only makes you feel good, it is good for you.  It can help you to live longer and happier!

How is that?  Let's look at the science behind it all.

Endorphins, that wonderful brain chemical that gets produced when you are out there doing that three-mile run.  It is what puts you into the state athletes refer to as a Runner’s High.  Well, you can experience a similar feeling without busting a lung when you give someone a hand. 

Though instead it is called, Helper’s High—a euphoria that happens when you do charitable deeds.  The psychological theory being that giving and acts of kindness produce a natural mild version of a morphine high.

Please remember, your help can come in every size and shape, big or small.  The size, or the amount, of help is not so much the point as is the gesture of genuinely wanting to help.  The emphasis being on the ‘genuine’ part.

On the receiver end, when you help someone, that person picks up on, and are touched by, your heartfelt offer to help, no matter what it is for.  They feel greater comfort and less stress.  The giver, the helper, in turn, experiences a profound sense of satisfaction, of joy, of delight, of happiness, which decreases their stress levels as well.  Do this often enough, and it could add to your life expectancy. 

There is a relatively recent body of research on telomeres, the end-caps of our genes, which shows that long-term stress not only shortens these end-caps, it can also lead to an earlier death.  So developing a positive emotional state, offering your time, a warm smile, an empathic touch, may increase the likelihood of you sticking around a while longer.

Conversely, empty gestures get empty results.  That is because people want to feel supported rather than feeling like they are putting you out, or are being a burden.  It makes them feel guilty.  For example, you may only want to help organizations that provide you with a Tax Deductible Receipt.

If you are thinking about some meaningful way to be of service, first, offer to help either someone or a group, as I suggested above.  Then two, do it from the heart.  Helper’s High is what you will receive when you give from the heart, a gracious act of kindness. 

It also gives you the added value of being in touch with your life’s purpose.  I think Ralph Waldo Emerson put it well. “The purpose of life is to be useful, to be honourable, to be compassionate, and to have it make some difference that you have lived and lived well.”  

On that note, I will end this article.  Everyone, with the Blessings of the Almighty, our long awaited RV will now be upon us.  If you have not set your exchange plans in motion, please visit my website and take a look at my Currency Exchange Planner, my software will definitely help you with your exchange. 

It covers all of your planning needs, including, debts, precious metals, charity, family and future planning.  It has a projection and investment planner, along with a budget planner, serial number tracker and envelope planner.  There is absolutely nothing like this currently available to the Dinarians. 

And now I have created the Add-on, Companion Edition, which helps you plan your Taxes and Net Worth, it even includes a 15 year Advanced Wealth Management Tool and a lot more!  

The only way to secure your wealth and make it lasts for years to come is with proper and sound financial management.  My easy to use planners can definitely help you with that.​

I hope you have benefited from my article.​

Thank you and I wish you all the success in your currency exchange.

Muhammad Ali

www.CurrencyExchangePlanner.com

The No. 1 Planning Tool for the Dinar community.

Available in Desktop PC/MAC and Mobile App (Android & IOS) versions

https://www.currencyexchangeplanner.com/article-32-do-not-lose-your-humanit

Majority of Americans Have Cried Over Money

Majority of Americans Have Cried Over Money, Study Says

Dhara Singh Reporter  Yahoo Money October 21, 2019

 Pass along the tissues, because Americans aren’t afraid of letting the tears roll when it comes to finances.

Seven in 10 Americans said they have cried about money in their lifetimes, according to a recent online survey of 1,004 Americans by Compare Cards.com. Many cited worries over their job or making ends meet.

And household debt, which peaked at $13.86 trillion in the second quarter, weighed the heaviest on Americans. Almost a third admitted to crying over this looming concern, according to the survey.

“So many people’s financial margin for error is so slim that an unexpected car repair can be a real hardship,” Matt Schulz said. “Then, if you factor in things like job loss or a medical emergency, that can make things even worse.”

Which debt hurts most?

Credit card debt evoked the second-most tears. One in 5 Americans said credit card debt – which increased $18 trillion since the 2008 – has made them cry.

Student loan debt – which hit a $1.48 trillion in the second quarter – followed, with 13% of Americans naming it as a top stressor.

Students wearing academic regalia attend their graduation ceremony at the University of California Los Angeles (UCLA), June 14, 2019 in Los Angeles California. - With 45 million borrowers owing $1.5 trillion, the student debt crisis in the United States has exploded in recent years and has become a key electoral issue in the run-up to the 2020 presidential elections.

"Somebody who graduates from a public university this year is expected to have over $35,000 in student loan debt on average," said Cody Hounanian, program director of Student Debt Crisis, a California NGO that assists students and is fighting for reforms. (Photo by Robyn Beck / AFP) (Photo credit should read ROBYN BECK/AFP/Getty Images)

Melanie Lockert, founder of the blog deardebt.com, is familiar with that student loan stress. After graduating with a master’s degree from New York University, she was $81,000 in the hole. Even after she shrunk the debt to $68,000, she still couldn’t look at the remaining huge balance.

“I deleted my Mint.com [account], because I was completely in denial paying off debt,” said Lockert, who is now debt-free. But “denial always catches up to you.”

Who’s the most emotional?

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

https://money.yahoo.com/cried-over-money-182455308.html

35 Hard Truths To Know Before Becoming “Successful”

35 Hard Truths To Know Before Becoming “Successful”

​ 1. It’s Never As Good As You Think It Will Be

“One of the enemies of happiness is adaptation,” says Dr. Thomas Gilovich, a psychology professor at Cornell University who has studied the relationship between money and happiness for over two decades.“We buy things to make us happy, and we succeed. But only for a while.

New things are exciting to us at first, but then we adapt to them,” Gilovich further states.

Actually, savoring the anticipation or idea of the desired outcome is generally more satisfying than the outcome itself. Once we get what we want — whether that’s wealth, health, or excellent relationships — we adapt and the excitement fades. Often, the experiences we’re seeking end up being underwhelming and even disappointing.

I love watching this phenomenon in our foster kids. They feel like they need a certain toy or the universe will explode. Their whole world revolves around getting this one thing. Yet, once we buy the toy for them, it’s not long before the joy fades and they want something else.

Until you appreciate what you currently have, more won’t make your life better.

2. It’s Never As Bad As You Think It Will Be

​Just as we deceive ourselves into believing something will make us happier than it will, we also deceive ourselves into believing something will be harder than it will.

The longer you procrastinate or avoid doing something, the more painful (in your head) it becomes. However, once you take action, the discomfort is far less severe than you imagined. Even to extremely difficult things, humans adapt.

I recently sat on a plane with a lady who has 17 kids. Yes, you read that correctly. After having eight of her own, she and her husband felt inspired to foster four siblings whom they later adopted. A few years later, they took on another five foster siblings whom they also adopted.

Of course, the initial shock to the system impacted her entire family. But they’re handling it. And believe it or not, you could handle it too if you had to.

The problem with dread and fear is that it holds people back from taking on big challenges. What you will find — no matter how big or small the challenge — is that you will adapt to it.When you consciously adapt to enormous stress, you evolve.

3. There Is No Way To Happiness

“There is no way to happiness — happiness is the way.” — Thich Nhat Hanh​​

Most people believe they must:

First have something (e.g., money, time, or love)

Before they can do what they want to do (e.g., travel the world, write a book, start a business, or have a romantic relationship)

Which will ultimately allow them to be something (e.g., happy, peaceful, content, motivated, or in love).

Paradoxically, this have — do — be paradigm must actually be reversed to experience happiness, success, or anything else you desire.

First you be whatever it is you want to be (e.g., happy, compassionate, peaceful, wise, or loving)

Then you start doing things from this space of being

Almost immediately, what you are doing will bring about the things you want to have

We attract into our lives what we are. This concept is confirmed by loads of psychological research. In his popular TED talk, Harvard psychologist Shawn Achor explains that most have happiness backward.

They believe they must first achieve or acquire something to be happy. The science shows that happiness facilities success.

For example, Scott Adams, the creator of the famous comic series Dilbert, attributes his success to the use of positive affirmations. 15 times each day, he wrote the sentence on a piece of paper, “I Scott Adams, will become a syndicated cartoonist.”

The process of writing this 15 times a day buried this idea deep into his subconscious — putting Adams’ conscious mind on a treasure hunt for what he sought. The more he wrote, the more he could see opportunities before invisible to him. And shortly thereafter, he was a highly famous syndicated cartoonist. It couldn’t not happen.

I personally apply a similar principle but write my goal in the present tense. For example, rather than saying, “I will become a syndicated cartoonist,” I write, “I am a syndicated cartoonist.” Writing it in the present tense highlights the fact that you are being who you want to be, which will then inform what you do and ultimately who you become.

4. You Have Enough Already

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

https://benjaminhardy.com/35-hard-truths-you-should-know-before-becoming-successful-2/

The Worst Things About Being a Millionaire

The Worst Things About Being a Millionaire

By the editors of Kiplinger's Personal Finance | June 14, 2018 Updated for 2019

Who wants to be a millionaire? The more intriguing question would be, “Who doesn’t?” For most people, a million smackers conjures up images of vacations on the Riviera, Arabian racehorses and mattresses stuffed with freshly ironed $20 bills.

But being a millionaire today isn’t all it’s cracked up to be. Low interest rates and high living costs mean a million bucks in the bank doesn’t necessarily allow you to retire at 35, 45, 55 or even 65.

What’s worse, today’s million dollars comes with all the burdens of wealth: greedy relatives, rapacious lawyers and grasping investment advisers.

A Million Isn’t What It Used to Be

Financial advisers say a sustainable annual withdrawal from retirement savings is 4%. With a million-dollar nest egg, a 4% draw-down means annual income of $40,000. And that’s before taxes. If you stick with the 4% withdrawal rate and earn an average 8% on your money annually, you’ll be in good shape for the long run.

But can you really live on $40,000 a year? Most millionaires don’t want to. “If you are 45, 50, 55 years old and spend like a millionaire, then you are doing two things with your money that may well not work for you long term,” says Tom Davison, a financial planner in Columbus, Ohio.

 “The first is not saving extra dollars now, and the second is establishing a lifestyle cost that, for most people, will be hard to cut back on later.”

That being the case, let’s say you pull $100,000 a year from your savings, you earn 8% a year, and you don’t adjust upward for inflation. Here’s how your account would fare: at the end of Year 1, you'd have $972,000 left; Year 5, $835,735; Year 10, $594,376; Year 15, $239,741; and Year 18, $0. Yup — broke in retirement.

Millionaires Are Big Targets for Strangers

When most of us have an auto accident, we simply curse our luck, exchange insurance numbers and pay the deductible. When you’re a millionaire, however, lawyers might look to you to alleviate their clients’ “pain and suffering.” If your insurance doesn’t pay, those lawyers will be eyeing your million-dollar stash.

The best solution: Make sure all your insurance policies are up to date, particularly the liability portion of your auto and home insurance. And consider a personal liability umbrella policy to cover what your other insurance won’t. Many umbrella policies will even pay for a lawyer if you need one.

A million dollars of umbrella insurance coverage costs about $150 to $300 a year, according to the Insurance Information Institute. The next million should cost around $75, and every million after that will add about $50 to your annual premium.

Millionaires Are Big Targets for Friends and Family, Too

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

https://www.kiplinger.com/slideshow/investing/T052-S001-the-worst-things-about-being-a-millionaire/index.html

Gratitude is More Than Attitude

Gratitude is More Than Attitude

Posted from Dinar Recaps Archives on 12/25/2018

Gratitude is More Than Attitude
By Lisa White

Gratitude…it’s one of the words that we use over and over to express our appreciation for what we have in our lives whether it’s tangible or intangible. We are taught to have an “attitude of gratitude” as a way of good living.

To be seen as not grateful is to be seen as selfish and greedy. Feeling gratitude makes us happy! It sends positive energy into the world. Who wouldn’t want to be in an “attitude of gratitude”?

But, what if gratitude was more than just an attitude? What if gratitude was just the beginning of a mindset of living gratefully?

It’s one thing to express gratitude. It’s another to “live” gratitude.

What does living in gratitude mean?

​Well, to me, living in true gratitude is a constant mindset of being grateful and then showing through our actions that we are willing to nurture, protect and be stewards of that for which we are grateful.

Gratitude means nothing if we express thanks one minute and then turn around and damage, hurt or ruin what we’ve been given.

Being grateful means taking actions and changing behaviors to live the “promise of our thanks”.

​What does that look like? Well, ask yourself these questions.

If you are grateful for your friends and family, what actions do you take on a daily basis to not judge or criticize? Do you let bygones be bygones? Do you still have expectations about the way they “should” be?

If you are grateful for the air we breathe, then what do you do to make sure that it stays clean? Do you protest the forms of energy that pollute our air? Do you drive everywhere instead of taking public transit, walking or riding a bike when possible?

To continue reading, please go to the original article at

https://omtimes.com/2014/01/gratitude-attitude/

5 Lies You’ve Been Told About Generational Wealth

5 Lies You’ve Been Told About Generational Wealth
By Pavithra Mohan

From the Recaps Archives, originally posted on 7/20/2019

From TNT --  Ify: This Article explains why RayRen continues to say NOT to gift large monies but to Educate your children, grandchildren... Article on Generational Wealth:

Here’s what you have wrong about people who inherit money.
5 Lies You’ve Been Told About Generational Wealth

The markers of generational wealth are manifold, from the promise of a good education to the security of homeownership. Wealth begets further wealth, but not always through inheritance of assets.

“Much of the transmission of wealth to the next generation goes through these earlier life processes, such as supporting children’s education, supporting their ability to purchase a home, or to get married,” researcher Fabian Pfeffer wrote in a recent study at the University of Michigan. “All of these—education, homeownership, marriage—in turn help you accumulate wealth.”

But the extent to which family money helps future generations retain and build on their wealth—or acquire financial literacy—is less marked than you might imagine. Here are some of the commonly held misconceptions about the beneficiaries of generational wealth.

1. Their Wealth Lasts Many Generations

We don’t have to look further than one Donald Trump to see how wealth can trickle down and set up future generations for success. But generational wealth is actually harder to maintain than America’s richest families might lead you to believe: About 70% of wealthy families lose their wealth by the second generation, and 90% do by the following generation.

One reason that happens is the next generation may not be equipped to manage the money they inherit. But it’s also that family wealth can be diluted as it is divided amongst children, especially if each has a different stance on how to invest or manage the family finances. (Think of the family jockeying on Succession.)

Some financial experts even recommend that—not unlike businesses—families come up with a “mission statement” to establish financial values and goals, in an effort to preserve wealth across future generations. 

2. Their Parents Talk To Them About Money

You might think parents with money share their financial know-how with their offspring. But that’s not necessarily the case. “Some parents don’t want their kids to feel like they have a huge landing pad or that they may not need to work,” says Emily Green, a financial adviser at Sallie Krawcheck‘s investment platform, Ellevest.

“A lot of times, they don’t talk to them about money at all.” That can mean parents not only don’t disclose how much their kids stand to inherit but also don’t necessarily offer guidance on how they should spend and invest their money.

“I find that a lot of them get to their thirties, forties, maybe even fifties and still don’t really know anything about money,” Green says. Sometimes, even financial advisers make assumptions about people who have money—presuming, for example, that they are well-versed in investing. In truth, the folks who inherit tens of millions of dollars may know less about money, and especially investing, than someone who saved a million dollars.

To continue reading, please go to the original article at

5 lies you’ve been told about generational wealth

.The Federal Reserve Might As Well Use Carrier Pigeons

The Federal Reserve Might As Well Use Carrier Pigeons

Notes From The Field   By Simon Black
August 13, 2019   Spoleto, Italy
 
The Federal Reserve Might As Well Use Carrier PigeonsThe Federal Reserve Might As Well Use Carrier Pigeons

In the early 1760s, Mayer Rothschild began building a banking dynasty that would last for centuries.

The elder Rothschild sent his five sons across Europe to establish banks in cities like Paris and London.

One son, Nathan Rothschild, took the lead and expanded the family’s banking dynasty.

With siblings in different countries, the family now had a trusted network of lenders with whom they could finance large government projects like infrastructure and war.

To quicken the pace of their financial transactions, the brothers used a network of carrier pigeons to send messages to one another across Europe.

This allowed them to quickly react to financial news from other markets. That way they could always be the first in a local market to react to news from abroad.

Bad news in Paris markets could be sent by pigeon to London, where Nathan could sell a stock that would be negatively affected.

Things have gotten a lot faster these days

Scientists have discovered how to accelerate an ion to 99.9999% the speed of light.

The Internet allows us to speak to someone across the globe, instantaneously, anytime of day or night.

We’re even on the verge of commercial space flights. By 2023, SpaceX plans to send a Japanese billionaire around the moon.

And yet, despite all this speed, it can still take several DAYS to send money from one person to another using the traditional banking system.

Rather humorously, the Federal Reserve announced last week that a ‘real time’ payment system would be (hopefully) released in about FOUR YEARS time.

Bear in mind that companies like PayPal that allow for real time payments have been around for 20 years. Cryptocurrencies like Bitcoin have been around for more than a decade.

And now, FINALLY, the Federal Reserve might get around to implementing the same thing.

This is pretty crazy when you think about it. The Fed is supposed to be leading the way in banking; they’re the top regulator and largest central bank in the world.

But they’re hilariously far, far behind the rest of the industry.

Domestic money transfers in the United States rely on the ‘ACH’ payment network to send and receive money.

If your paycheck is direct deposited into your bank account, or mortgage payment automatically deducted, these typically use ACH.

 
ACH payments take 2-3 DAYS to clear. That’s totally insane in this day and age. Seriously, the Rothschilds’ network of carrier pigeons didn’t even take that long.

And if you’ve ever dealt with international financial transactions, you have probably heard of the SWIFT network

SWIFT is a worldwide banking network that allows financial institutions to ‘securely’ send and receive messages about wire transfers and payments.

I’m putting ‘securely’ in quotes because the system has been hacked a number of times. And it runs on pathetically outdated technology. 

As many readers know, I own a bank. And I’ll never forget when we joined SWIFT, they told us that in order to run some of their software we needed to install an obsolete version of Windows that Microsoft stopped supporting years ago.

Seriously? This is the ‘secure’ system that is responsible for trillions of dollars of worldwide financial transactions?

Nearly every major worldwide banking authority is playing a pitiful game of catch-up with non-bank technology companies that have developed vastly superior ways to conduct financial transactions.

Think about it-- nearly every single function of a bank-- deposits, loans, foreign exchange, payments-- can be done better, faster, and cheaper outside of the banking system.

You can hold money in the Blockchain (or even something low-tech like T-bills, which pay 100x more interest than your bank account. Or gold.). You can borrow money from peer-to-peer websites. You can send money with firms like Venmo or TransferWise.  LINK

Banks are becoming useless antiques. And by the time the Federal Reserve has figured out how to make real time payments, I expect the technology at that time will have leapfrogged their best efforts.

Facebook could easily have hundreds of millions of people using its digital currency Libra within 12 months.  LINK

So sending money could become as easy as sending an email, all without using a bank, and three years before the Fed joins the 21st century.

Until tomorrow,

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

Top 10 Things You Didn't Know About Money

Top 10 Things You Didn't Know About Money

As the U.S. government debuts a new $100 bill on Apr. 21 — this one will be redesigned to ward against digital copying and counterfeiting — TIME traces the history of banknotes from ancient China to modern cocaine dens. Here are 10 tidbits about money that may surprise you

The Largest Banknote

Measuring in at roughly the size of a sheet of legal paper, the world's largest single banknote is the 100,000-peso note created by the government of the Philippines in 1998. Designed to celebrate a century of independence from Spanish rule, the note was offered only to collectors, who could purchase one of the limited-edition notes for 180,000 pesos, or about $3,700.

One in a Million

The largest banknote ever issued by the Bank of England was the £1,000,000 note, issued in 1948 as a temporary measure during the postwar reconstruction in the Marshall Plan. Designed for use by the U.S. government only, the notes were canceled after just a few months, allowing very few to escape into private hands. But just because the notes are out of service doesn't mean they're valueless — in 2008, one of two known surviving notes fetched almost $120,000 at auction.

Inflation Nation

To deal with hyperinflation that reached the ludicrous level of 231 million % and saw the price for a loaf of bread hit 300 billion Zimbabwean dollars, Zimbabwe's newly formed unity government — including bitter opponents President Robert Mugabe and Prime Minister Morgan Tsvangirai — issued a $100 trillion note in early January. (One hundred trillion, by the way, is a 1 with 14 zeroes — making the note the highest denomination in the world.)

Just weeks later, however, the leaders decided to back-burner the hugely devalued Zimbabwean dollar and began allowing people to do business in other currencies. The move managed to curb inflation for several months until a small uptick in July. One hopes some of those $100 trillion notes didn't get spent all in one place.

Dirty Money

 All money, it turns out, could stand to be laundered: the stuff is filthy. Studies show that a solid majority of U.S. bills are contaminated by cocaine. Drug traffickers often use coke-sullied hands to move cash, and many users roll bills into sniffing straws; the brushes and rollers in ATMs may distribute the nose candy through the rest of the money supply.

Also found on bills: fecal matter. A 2002 report in the Southern Medical Journal showed found pathogens — including staphylococcus — on 94% of dollar bills tested. Paper money can reportedly carry more germs than a household toilet. And bills are a hospitable environment for gross microbes: viruses and bacteria can live on most surfaces for about 48 hours, but paper money can reportedly transport a live flu virus for up to 17 days. It's enough to make you switch to credit.

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

http://content.time.com/time/specials/packages/article/0,28804,1914560_1914558_1914575,00.html