How to Fight Your Own
Personal War
Against Inflation
and the Falling Dollar
By Sean Human, Editor, Currency
Cross Trader
Dear Sovereign
Investor,
Wherever I go, everyone
always asks me why I came over to the currency market.
For me, the answer is simple.
I see the erosion of the
U.S. dollar and the rise of inflation as an all-out
assault on my personal finances.
Years ago, I discovered
the currency market was my best line of defense against
this assault. You could even call it a counterattack -
because I profit as inflation spikes and the dollar
loses purchasing power. Now that’s more important
than ever...
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A 40-Year Attack on Your Wages
and Wealth
For years now, hourly
wages have been increasing - but so have the cost of
goods.
In fact, the prices of the
items you need the most are rising much faster than the
salary raises you’ve likely gotten throughout the years.
It’s been this way ever
since 1970 when President Nixon took our money off the
gold standard. If you adjust for inflation, you’ll see
our earnings are sinking at a shocking rate.
Check out the chart below
and you will see what I mean...
Inflation-Adjusted Wages Peaked
Around the Time
We Came Off of the
Gold Standard
Please
click here for larger view.
As you’ll notice, the
chart shows “actual wages” are rising. That can be a bit
deceiving. In reality, it doesn’t matter if “actual
wages” are rising, as long as inflation is rising.
Your money is only “rising
in value” when it buys more of the goods and services
you need to live your life. In other words, money is
only worth what you can exchange for it.
Inflation-adjusted wages
take into account how much the average pay will buy in
relation to the cost of goods at that time.
Where I come from, we say
“it shows how far your money will go.”
As you can see on the
chart above, it’s pretty obvious our purchasing power is
eroding away. So you have two choices. You can do
nothing and let this cancerous inflation and dollar
dillution steal your wealth. Or you can take steps right
now and to protect your wealth.
Personally, I choose
option two. That brings me back to the currency market.
5 Easy Steps to Declaring War
on the Dollar
If you want to protect
your wealth from rising inflation and a government that
constantly devalues our currency, then I recommend you
put your dollars into an account where you can profit
off all this.
You can do that through a
currency trading account, or “Forex” account. It only
takes a few steps to get started.
- Find a FX broker - You need a
special account to trade currencies. So start by
searching online for “Forex broker.” You’ll find many.
Choose one that is highly regulated and
well-capitalized. FXCM.com, Oanda.com, and Forex.com
are a few examples of highly capitalized, regulated
firms. But search around and find whichever broker
works best for you.
- Open your account online - Once
you have found your broker, fill out the online
application for either a micro or mini account. Your
broker can tell you which type of account may be best
for you. You can contact most brokers’ customer
service 24 hours a day either by phone or online. Get
all your questions answered first before opening your
account. Allow two or three days to process your
account.
- Fund your account -To fund your
account fast, deposit funds either by credit or debit
card, or wire funds from your bank. These both
typically take 1-2 days at most. The former is usually
good for deposits up to about $5,000 to $10,000. The
latter may be best for larger deposits. Some firms
will offer ACH deposits too (for U.S. bank account
holders). You can also use a paper check, but that’s
the slowest way to fund your account.
- Download the free trading station
- To trade currencies, you must download your broker’s
trading station software. You can either access this
through your broker’s website homepage, or through the
email they will send you. Login with the username and
password they give you, and you will see your
deposited balance. Then you’re ready to trade.
- Start small - Start off by
trading 1 lot. Ease into currency trading... don’t
start off by overleveraging yourself. You can also
practice trading with a free demo Forex account, until
you feel comfortable trading currencies online.
By taking these few steps,
you can be up and trading within about a week. You’ll be
on your way to fighting inflation and the erosion of the
U.S. dollar.
But whatever you do, don’t
just sit on the sidelines. Take steps to protect your
wealth and purchasing power now while you still can.
I’ll be back with more
ideas on how to do that in the coming weeks. Until
then...
Have a Nice Day!
Sean Hyman,
Editor
Currency Cross Trader
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His most recent find may be one of the best-kept secrets
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