Currency has been around since the beginning of mankind interacting with each other. It has been represented in difference forms, but the essence of currency is a medium of exchange and/or a store of value.
Understanding what currency is and how it works is important in wealth building because currency is the foundation of value that an economy builds onto. If that foundation is shaky or weakened through manipulation by those in charge then it effects the entire economic system built on top of it.
You don't need to be a currency expert to know when there's manipulation, nor do you need a degree in economics. Just follow inflation. Inflation is manifestation of currency manipulation. Even if the reasons are "noble".
Thank God we live in a time and a country where we have the freedom to store our value in a number of different currencies: stocks, bonds, USD cash, real estate, bitcoin, gold, art, Yen, Yuan, etc.
The currency you choose determines how much of your wealth grows or is taken away through inflation over time.
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Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
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