The Bureau of Labor Statistics was down early on Friday, as traders looked to see the latest inflation numbers. With a consumer price index level up 1.0 percent month over month, or twice what was expected, inflation numbers are certainly looking up.
Over time, high inflation makes it difficult for companies to provide accurate estimates of costs. Projects are delayed, and the economy and the stock market contract. While some of that fear has been bubbling up, for the time being, a quarter or two of extra inflation may not cause a big market selloff. Traders can potentially profit by looking for companies best capable of passing on higher costs to their end customers.
Now here’s the rest of the news:
China’s Digital E-yuan Seeks to Undermine U.s. Dollar Dominance
China’s digital yuan is a tool of “domestic repression and surveillance.” And it’s also a shot across the bow of the American economy. Here’s why the e-yuan has global implications… [Read Here]
Gold … $1,745.59 (+0.8%)
Silver … $25.36 (+1.2%)
Platinum … $1,211.20 (-0.7%)
Palladium … $2,673.41 (-0.4%)
April 12, 2020
The Importance of the Inner Circle
Your Inner Circle.
Motivational speaker Jim Rohn is famous for saying, “You’re the average of the 5 people you spend the most time with.” Take some time to think about that. Seriously.
Are those 5 people you associate with most positive-minded, encouraging, and supportive? Do they energize you and inspire you to be your best? Do they share similar values and goals? Do they listen to you and empathize with you? Are they there for you through thick and thin? Do they give you a genuine pat on the back for your accomplishments? Do they provide you healthy accountability and help raise awareness to self-sabotaging tendencies?
Or, is your inner circle more likely to be negative, pessimis-tic, and defeatist? Are those 5 people energy vampires holding you back? Do their priorities conflict with your own? Do they expect you to listen to them but never return the favor? Are they fair-weathered? Do they talk behind others’ backs (maybe even your own)? Are they jealous of yours (and others’) successes? Are they judgmental? Do they secretly (or openly) hope for the worst for others and purposely attempt to bring them down?
I think you get the point. If you want to live a healthy, happy, successful, and fulfilled life, you need to surround yourself with positive, like-minded people — which is often referred to as positive social support.
Positive social support is exceptionally important for good physical and mental health. It can enhance resilience to stress, increase longevity and quality of life, reduce levels of inflammation, enhance immu-nity, promote healthy weight management, improve mood, enhance self-esteem, improve feelings of well-being, enhances vitality, encourage kindness, enhance sense of belonging, increase empathy for others, lead to greater levels of trust and openness, and promote positive behavior changes. In the case of the latter, positive social support is a linchpin for making healthy changes in every domain of life. And finally, positive social support allows us to create wonderful shared memories.
So, who makes up your inner circle? Is it time to make some tough decisions? Is it time to make some new acquaintances?
Here’s to a better YOU … and now …
Today’s DarrenDaily Recap Sunday. A collection of the weeks videos from Darren Hardy. Enjoy!
I’ll leave you with a picture from Calgary, Alberta CANADA…
April 12, 2018
A USD Collapse is inevitable
It is not of matter of if, but a matter of when.
Be prepared … and if history is any guide, there isn’t much time left.
Let me take you back a few decades, back to when the hippie move-ment was fading out and the disco era was on the rise…
August 15, 1971.
It was a 90-degree day on Capitol Hill — one of the hottest days of the summer that year in D.C.
President Richard Nixon appeared on live TV to make an unprece-dented announcement to the world and change the face of the global financial system forever.
Gold bugs know this day all too well. It was the day Nixon took the U.S.
dollar off the gold standard.
The gold standard is something known by many but really understood by few. In 1944, representatives for 44 countries met in Bretton Woods, New Hampshire, to develop a new international monetary system.
Under this new system, countries would settle all international accounts in U.S. dollars. This gave the United States a significant advantage over all other nations as it created a permanent demand for the greenback.
In exchange for this advantage, the American government agreed that U.S. dollars could be converted into gold at a fixed exchange rate of $35 per ounce.
At first the plan worked well. Following WWII, Asian and European countries were rebuilding and needed U.S. dollars to buy American goods and settle accounts with each other. And because the United States owned half the world’s gold reserves at the time, the Bretton Woods system seemed secure.
But as the rest of the world recovered in the mid-century, America’s share of global economic output significantly dropped. By the 1960s, a negative balance of payments, growing public debt from military spending on the Vietnam War, and monetary inflation by the Federal Reserve caused the greenback to become increasingly overvalued.
By 1966, foreign central banks held $14 billion in U.S. dollars. But the United States had only $13.2 billion in gold reserve. The United States simply didn’t have enough gold to convert all the dollars it printed.
Foreign countries rightfully began to become concerned. And by the early 1970s, they began demanding the gold.
In July 1971, Switzerland exchanged $50 million in U.S. dollars for gold. Then France redeemed $191 million. Something had to be done.
In steps Nixon…
On the afternoon of Friday, August 13, 1971, President Nixon, Federal Reserve chairman Arthur Burns, U.S. Treasury Secretary John Connally, and 13 other high-ranking White House and Treasury advisors secretly met at Camp David to decide what should be done.
There was a lot of debate. But ultimately, Nixon decided to break up the Bretton Woods system by suspending the convertibility of the dollar into gold.
Two days later, Nixon announced the decision to the world: The U.S. dollar would no longer be backed by gold, turning it into a ﬁat currency.
The Oxford English Dictionary defines “fiat” as:
A formal authorization or proposition; a decree. [from Latin, ‘let it be done’]
A fiat currency is one that exists as money only because the govern-ment says it is so. So instead of being backed by gold, the U.S. dollar would now be backed by “the full faith and credit” of the United States.
But history has a message for us about fiat currencies: eventually, they all implode.
Resource investor Chris Mack writes:
According to a study of 775 fiat currencies by DollarDaze.org, there is no historical precedence for a fiat currency that has succeeded in holding its value. Twenty percent failed through hyperinflation, 21% were destroyed by war 12% destroyed by independence, 24% were monetarily reformed, and 23% are still in circulation approaching one of the other outcomes.
“The average life expectancy for a fiat currency is 27 years, with the shortest life span being one month.”
By this measure, the U.S. has experienced a remarkable run. This year will mark the 48th that the U.S. dollar has been fiat. It’s living on borrowed time.
What will replace the dollar, or how it will be retooled, remains unclear. But given the undeniable track record of fiat currencies, it’s clear that the U.S. dollar will eventually collapse. And there’s really only one place to hedge your wealth in the face of fiat currency collapse: gold
When the fiat currency system falls, it will be unlike anything we’ve ever seen before. Panicked investors will move into the safe-haven gold market in record numbers and send prices soaring.
Right now, less than 5% of the entire U.S. population holds gold invest-ments. Just imagine what will happen when the rest of the population moves into the gold market.
Do yourself a favor: Start buying gold now if you haven’t already. Don’t be left behind.
Until next time,
April 12, 2017
I wouldn’t say I dropped out of school … I DID NOT.
I can’t say I didn’t complete post-secondary training … I BECAME A JOURNEYMAN POWER LINEMAN.
What I would say, is that I wish I had studied human behavior and human interactions more! People fascinate me. What makes them tick?
That’s why I watch Survivor year-after-year / season-after-season. That’s why I’ll watch it again tonight! I love how people worry, are paranoid, within their respective tribes. Fear dictates most of their motivations. Thoughts can be “seeded.” Here is a quick example: THERE ARE TWO TYPES OF PEOPLE IN THE WORLD. […immediately we want to know in which group we are.]
“Those that want a different future … and (2) those that have given up, and are just waiting to die.”
Why does this work?
Because this phrase attacks the survival and the curiosity programs in the brain. And yes, we run on programs. 🙂