4 Reasons Why You Will Never Be Wealthy

To qualify as wealthy, you must have enough CURRENCY in your possession to maintain your current standard of living without having a job! There are four reasons why you will never be wealthy:

1. Printing of the U.S. Dollar
2. Inflation
3. Taxes
4. Fractional Reserve Banking

I say CURRENCY because the U.S. Dollar is a CURRENCY! It is only a representation of REAL MONEY!

Every sovereign nation in the world has its own National CURRENCY.

After World War II, the U.S. Dollar was selected as the World’s Reserve CURRENCY. That meant every nation in the world had to have the U.S. Dollar in their Reserve CURRENCY holding to conduct business with the United States. It was also selected because it was Backed by Gold!

According to the U.S. Constitution, Article I, section 10 reads “No state shall…coin money, emit bills of credit, make anything but gold and silver a tender in payment of debts…”

The above Gold Certificate is an example of when the U.S. Dollar was backed by GOLD!

Lower denomination bills were issued as gold and silver certificates. The bearer of the certificate could take the bills into a Federal Reserve Bank and be given the equivalent amount in gold for gold certificates or silver for silver certificates.

On August 15,1971, then President Nixon stopped the convertibility of the dollar to gold, and took the dollar and the WHOLE WORLD off the GOLD STANDARD.

Gold is still and always will be a safe store of value because it maintains its value over time!

An ounce of gold buys the same thing it did 2000 years ago. A rich Roman could buy a toga, leather belt, leather sandals, and dinner with gold left over. Today a man or woman can buy a tailored suit, leather belt and shoes, shirt, tie, dinner, and have gold left over. Unfortunately, the U.S. dollar can’t buy the same thing it bought 100 years ago!

In 1920 you could buy a new vehicle for approximately $645 or 1 kilogram of gold!

Today, $645 barely buys you a set of tires for your car, however, you can still use 1 kilogram of gold to buy a new car!

1. Taking the U.S. Dollar off the Gold Standard has allowed the U.S. government to print as much CURRENCY as they want without having to have an equivalent amount of gold in the Treasury to back the dollar.

This over printing of the U.S. dollar only devalues the dollar, and further decreases its buying power.

Most people with a JOB don’t make enough CURRENCY to pay their bills and save at least three to six months living expense in an emergency account. This does not make you wealthy; it makes you prepared in case the primary CURRENCY earner loses his or her JOB; and is only one part of your journey to becoming wealthy!

The reason you can’t save enough CURRENCY is because the system is stacked against you!

You pay more taxes than the wealthy because the wealthy don’t make their CURRENCY from a JOB!

The wealthy don’t save CURRENCY in a bank account, they put their CURRENCY into assets that pay them residual income. They liquidate their assets when they need CURRENCY. Most of the time the wealthy use other people’s CURRENCY instead of their own!

The reason the wealthy don’t save their CURRENCY in the bank is because its affected by INFLATION, TAXES, and FRATIONAL RESERVE BANKING!

2.     INFLATION – according to Investopedia – What Is Inflation?

Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over a period of time. It is the constant rise in the general level of prices where a unit of currency buys less than it did in prior periods. Often expressed as a percentage, inflation indicates a decrease in the purchasing power of a nation’s currency.

• TAXES are self-explanatory: we all pay federal, in most cases state, social security, and Medicare taxes.

4.   What is Fractional Reserve Banking?

Fractional reserve banking is a system in which only a fraction of bank deposits are backed by actual cash on hand and available for withdrawal. This is done to theoretically expand the economy by freeing capital for lending.

Simply put, the bank uses your CURRENCY to create more CURRENCY and then lends the new CURRENCY to other customers and pay YOU peanuts for interest!

CURRENCY needs to move (VELOCITY) for it to be effective!

VELOCITY simply means you have more CURRENCY coming in faster than you can spend it, and you will never get that trading your time for CURRENCY!

Whey your CURRENCY is sitting in your bank account, there is no movement other than the taxes you pay, the inflation that is eating away at the buying power of your CURRENCY, and the small amount of dividend paid annually!

For you to have more CURRENCY than you need, you must put your CURRENCY to work making you more CURRENCY!

Having your CURRENCY in an investment like stocks, bonds, and mutual funds don’t really qualify as velocity unless you count the ups and downs of the stock market that affects your account balance!

When was the last time you checked the balance of your 401k, TSP or IRA?

Do you have what you thought you would have in your 401k, IRA or TSP?

People are living longer and most people that retire don’t have enough CURRENCY put away to effectively retire. With the government raising the retirement age, most people will work until they die!

THERE IS A BETTER WAY!!!

It solves the four reasons why you will never become wealthy!

Click the link above to find out what over 600,000 people around the world have discovered and are using to:

1. Protect their wealth from the over printing of CURRENCY
2. Protect their wealth from the ravages of INFLATION
3. To reduce the amount of TAXES they are paying
4. Protect, increase, and control their wealth and not worry about FRACTIONAL RESERVE BANKING

Tagged as: building wealth, Gold, Karatbars International, protecting wealth