How Saving Money Will Make You Poor Pt2
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Manage episode 169029560 series 1330985
Leading on from the previous podcast, I continue to talk about how saving money to build wealth is a waste of time and not going to bring you the return on invest like how Grandma and Grandad or Mum and Dad might have thought us.
I encourage you, if you haven’t already done so to check out the podcast before this and get up to date with where we’re up to in the timeline of history and then come back to this podcast.
In this podcast we look at why saving money doesn’t work and how this has come about.
1970’s Recession.
1971 – President Nixon took the US Dollar of the gold standard, the US dollar became the reserve and the Federal Reserve is now free to print money to save the rich.
This devalued the US dollar and caused a stock market crash. Inflation then hit the US dollar. With this there was also a oil crisis that caused an energy crisis.
1974 – The US congressed passed the Employment Retirement Income Security Act (ERISA) the 401K. This act I believe was brought into place for two reasons. 1. To help boost the stock market out of the crisis by using working publics money to gamble with and that they charge large expensive fees with little risk on their behalf. 2. To take the responsibility off the government paying for peoples retirement.
The rules of money completely changed at this point in time and changed in favour of the rich and powerful.
As a result of the Federal Reserve printing more money and inflation starting in the US meant there was a huge increase in unemployment and the US dollar lost it’s value.
1982 – Unemployment reached it’s highest since 1929 and as of 2015 it’s still higher then the 1930’s.
Each period of high unemployment was caused by the Federal Reserve.
What does this mean?
It means that since the 1970’s it’s no longer wise to save your money (as money loses value every time the government prints out more money) It’s mean, the sales man who sold you your superannuation is probably getting paid more then you are from your super through administration fees, he’s taking no risk gambling your money in the stock market. Start looking into ways that you can set up your superannuation so that you have control of your money and it’s being put into assets (an asset is something that makes you money without you having to work too hard for example real estate).
Don’t rely on saving up a big WOD of cash that sometime in the future is going to be worth nothing…
Summary:
1945 to 1971 the increase of the US dollar meant saving was a good idea for many countries. It wasn’t until 1971 when Nixon dropped the US from gold that it effected the savings and the worth of the US dollar.
The rich have now manipulated money to work for them, while the public pay for their mistakes and pay more taxes, while dealing with inflation.
Please take this podcast and go and do your own research and find out for yourself, we are being taken advantage of and it’s not fair. God tells us to go and find wisdom and here it is.
Start playing the game instead of being a number inside of it.
In the next podcast I am going to speak on the two types of depression inflation and deflation.
I am putting my heart and soul in teaching you the truth about money and what we need to do as Christians and people to build God’s kingdom economy, it would be awesome if you could share this podcast with your friends.
Speak soon
SJ x
PS the photo is from Ihavethisthingwithpink on Instagram, go check her out, books mentioned in the podcast or Conspiracy of the Rich By Robert Kiyosaki and GRUNCH of Giants by Buckminster Fuller
The post How Saving Money Will Make You Poor Pt2 appeared first on Empowering Her Business.
50 episodes