Important Economic Update from Kip Herriage
Wealth Masters International: Providing Guidance in Uncertain Times
Dear WMI Members,
As of today, every economic and market indicator that I follow is flashing bright red. Europe is witnessing the beginning of the end of their common currency, the Euro. This currency collapse will bring trillions in new bank losses globally, and cause economic devastation throughout the continent.
In the United States, trillions in taxpayer funded bailouts have done little to get the economy on its feet again, and in hindsight will be shown to have done nothing more than contribute greatly to our more than $100 trillion in total debt. Debt that cannot, and will never be repaid.
This is it. We are officially crossing the line that we have warned about since the inception of WMI in 2005. To most, events in the world economy will now begin to unfold in seemingly uncontrollable fashion. Clueless governments still don’t understand that it was their ruinous actions that created a credit infested, fiat currency based, bankrupt world. They didn’t learn this lesson from their mistakes of the 1930’s and now it’s too late to prevent a similar lost decade this time. Trust me, they will continue to prescribe the same remedy that caused the problem in the first place, specifically more government bailouts and more printed money. The consequences are clear; we will soon see hyperinflation, economic crisis, and in many parts of the world, social unrest…similar to what we are seeing in Greece and Thailand today.
Never in history has the world been in a situation when virtually all industrialized countries are bankrupt at the same time. And many feel that because there is really no precedent for what will happen in the next few years, that our future can only look bleak, and possibly even frightening.
Were I still stuck in my old Wall Street mindset, I might share in this dark and pessimistic view.
Sure, I am concerned about what is headed our way, and I am extremely concerned for those that remain unprepared. However, there is a big flip side to this coin. You see, it is times just like these where massive wealth is created. For many this concept may be difficult to comprehend, but economic upheaval brings with it a new beginning, and through this new beginning, untold opportunities to build generational wealth. Many of you have heard me state the fact that “more wealth was created coming out of the Great Depression than existed before it began”. But how can this be? Doesn’t money just disappear when the stock market…and the real estate market…and the currency markets… collapse?
And this is where the most important point I can make comes into play. Energy and money share an absolutely similar trait. Like energy, money never disappears. And, just as energy “transfers” throughout the universe, money “changes hands” as it moves from the ill-informed to the well-informed.
And this is the purpose of my update to you today. The economic uncertainty unfolding will cause many to be scared and unsure of what their future holds. And while some of you reading this may go through periods where you share those same concerns, the most important thing you can do is to maintain a laser like focus on the opportunities that exist all around you. You see, entrepreneurs and independent thinkers will be the biggest winners of all in the years to come. And, when combined with your WMI education and your connection to our community of like-minded visionaries, you will find that everything you need… you actually already possess.