News from over the pond in the USA this week was that the rich have increased their wealth by around 15% in the past year. That doesn’t surprise me, the rich are getting richer all over the world. Governments print more money and it disappears. Are you getting your share? Or are you even worse off?
I keep getting emails telling me that there is a financial storm brewing. I don’t watch the video, they tend to ramble on and you’re none the wiser afterwards. They are after my money, I can be sure of that. So will the recession in the UK get worse? Or better?
In my first ‘How to make your first Million’ blog, I said you need to understand the nature of money and that the paper stuff goes down in value. This is because they keep printing the stuff! That gold sovereign in the picture however, goes up in value. I know, I know, gold is going to drop in price any minute and I should sell and invest in shares! It dropped a little last week and then went up yet again, people said sell at $1,000 a ounce, $1,500 an ounce and we are on our way to $2,000 an ounce! When interest rates rise and they are higher than inflation, then I would think; maybe, that selling is a good idea. (more…)