Hi, in today’s live session we looked at trades including the Cad which just closed out for me +150 pips net. This was the same as last week, once again shared with you in advance in my Sunday analysis.

We also looked at the balance of last week’s Chf trade. At the time of writing it is currently almost 200 pips in profit. Job done, I am finished for the week ūüôā

In today’s session, I again discussed government manipulation and sometimes downright lies.

This is not the “fake news” agenda of some politicians.

Nor is it a dig at any particular party.

When it comes to finances they are all as devious as each other.

Having said that Jerome Powell’s comments last week still make me squirm.

How dumb do these people think we are? The truth is most people don’t understand how the financial system works.

This is not by accident. Whilst governments, big businesses and the press can continue to convince the masses that they know what they are doing, most people blindly accept the narrative until it is too late.

Learn to question everything you read when it comes to money. What is the agenda of the person giving you the news? If it’s research data, who is funding it.

I told my kids years ago. If you saw a headline that stated “Scientists now say eating beefburgers 3 times a day is great for your health”…… who would you suppose the research is sponsored by!

When Powell, an American attorney and investment banker & head of the reserve bank of the world since 2018, says he doesn’t understand inflation. Don’t believe a word of it! They are trying to take the public for idiots. Unfortunately, most are when it comes to finances which is why the big boys get away with it.

What is your (life) plan?

There are some potentially very tricky times ahead, possibly much worse than the current meltdown in the markets. If the Fed carry on with its current policy it will not end well, especially for the man in the street. For folks who planned to retire this year, it can be especially difficult as their portfolios will have dropped significantly.

It is estimated that most self-employed people in the UK and USA have a total pension pot of less than $100k. Many of nothing saved. If so they won’t be retiring any time soon!

Even if you are younger, don’t feel that you have time on your side. Governments are bankrupt now and don’t have the cash (when they stop printing) to pay current pensioners. There is no guarantee there will be anything left when you come to retire.

There are ageing populations around the world. Japan’s population for example is forecast to be that 60% of adults will be pensioners by 2050. How is that going to work?

In your plan

What do you WANT out of life? What would your ideal day look like if you didn’t have to work? What would you do if you only had a year left to live, but were in good health for that year?

What do you need to obtain the life that you want?

What are doing now to achieve it? More importantly what are going to do from this day forwards to make it happen!

Look at ways to make extra income. Trading is one of course, however I am a strong believer that it is important to have more than one income stream, both work and investment wise.

Can you market your current skills online? Or offline, perhaps, for example, as a consultant/mentor?

Do you have a business idea? Something you can build now to give you freedom now and income later in life? If you do run it by someone you know or trust. If you don’t have anyone, send me a short synopsis/business plan ( no more than 2 pages initially) and I will give you my feedback.

Save Money. Everyone should be able to cut back on something. One of my private clients who earns over $200,000 a year and lives in Asia where the cost of living is much lower. Average earnings are less than $1000 a month. He told me initially that he needed $6000 a month to live on when he quits his job. He has no mortgage or debt. I told him to go away and come back with a more sensible amount. The result? he can live comfortably on less than $3000 a month.

A family member and her partner earn over $140,000 a year, and don’t drink, nor smoke. Have a mortgage of around $750 a month. Eat out a couple of times a month, go to the cinema most weeks. Vacation once a year. They never have any money! Again when I sat down with them (they are family I am NOT a licensed financial adviser) they couldn’t understand where it all went. Until they wrote everything down and created a plan and budget.

The truth is most people when they earn more tend to spend it on “things.” The rich buy assets.

What are you going to do with spare cash at the moment?

I have converted spare ‚ā¨uros and GBP to $ this year.

It’s not a long-term plan as the dollar will tank at some point too, but so far this year its hedging me for inflation.

Look at investing in gold and silver.

There is a multitude of asset classes BUT you need to do the research.

A friend who invests in second hand Rolex watches tells me that they are currently dropping at the moment. This historically has its merits BUT you need to know what you are doing or you run the risk of getting fleeced by unscrupulous vendors.

Also buying anything from a dealer/retailer means you will lose their profit share plus the government’s sales tax as soon as you buy. With Jewellery and watches that can be 50% of the purchase price.

We also looked at the current world debt mountain. How I am convinced that it can never be repaid. Yet more smoke and mirrors ahead from governments on that one! The majority of countries around the world are technically bankrupt. Their debts exceed their assets by such a large amount there is no way back under the current system.

All of this and more in todays live training session. The trade ideas and a look at trendlines are around 40 minutes into the presentation