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I have been reading a book called “the Kings of Finance” Image may be NSFW.
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You may have heard of a banking institution and family JP Morgan. The founder is generally accepted as a financial wizard and his exploits are legendary (more later).
Up until the turn of the 1900 century(and after) the gold standard was the way many governments operated their economic systems .
At least those that were members of the international financial club. Those governments that were not in the club certainly wanted to be because that gave them access to cheaper finance ,among other things , and so called status as a nation.
Naturally as governments they flouted the rules...
at one point or another, particullarly during and just after WWI
The gold standard was a system whereby no government in the club agreed to issue paper currency that exceeded the equivalent value of reserves it had in gold.
Simply put if you or I went to the bank we could swap our paper note for an equivalent in gold coin. The value of each govenments paper was fixed.
This was put in place to stop inflation among other things..I have opinions on gold that I will address at another time.
But for now … Warren Buffet’s opinion of it is pertinent…
“it gets dug out of the ground in Africa or someplace then we melt it down, dig another hole, bury it again.and pay people to stand round guarding it.
The problem with gold is that it is finite or at least slow to produce…..
And thus restrictive
Naturally there were exceptions to the gold standard rule we are humans after all,
I only mention the above to paint a picture for the purpose of this post.
JP Morgan was a massively influential banker who at one point bailed out the economy’s of some of the wealthiest nations in the world .
when he died in 1913 he left an inheritance of 80 million dollars cash the equivalent now of around…. 671,600,000
BUT GET THIS
His contemporary Rockallfeller who was worth (at least financially) 1 billion( the historic calculator coudn’t handle it)….. said
“well he wasn’t a rich man after all.
So what do you conclude from that?
How much money do you want?…
Surely there has to be a limit to our quest for money. If so then you have to ask the question…
How much do I want…
when you ask that question…
seriously…
then you can start to focus on your TRUE goals and to how to achieve them
There is no point in saying I want this or that until you truly know what you really want.
Money is not your goal it is just one method of achieving your goal.
Most of us work to earn money,…..
Getting in the flow of money is the way to accumulate it.
Once we understand this then our place and purpose become attainable , and our goals will reflect our desires in life.
Simply saying to yourself I want a shed load of money so I can do what I like is not specific enough.
Think and really think about what you want …
you may surprise yourself…
Most of the things we desire in life have nothing to do with money…
They often revolve around
things we cannot buy…
you cannot buy friends
Health
peace of mind
Human closeness… love
Queen Elizabeth 1st (1533-1603)said on her deathbed said….
” all my possessions for a moment of time”
You may well say that money makes things easier to cope with and poverty is not acceptable and…
I agree wholeheartly
” The Richest Man in Babylon“… or..” Rich Dad Poor Dad“.. or…” Scrooge“, all advocate TRUE charity as well as the pursuit of wealth.
We must think beyond our pursuit of money only by so doing will we achieve real wealth…
money is attracted to people with this karma.
Life is a Journey…..not a destination… our ultimate end is inevitable
TIME is our most important asset, you can always make money…. Listen to the free Easy Cash Webnar by Alex Jeffreys for some valuable advice on how to make better use of your time