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Saturday, July 11, 2009

Week in Review: It's a Question of Trust (PODCAST)

"If you once forfeit the confidence of your fellow citizens, you can never regain their respect and esteem. It is true that you may fool all of the people some of the time; you can even fool some of the people all of the time; but you can't fool all of the people all of the time." - Abraham Lincoln, 16th President of the United States of America

Welcome to the 'Week in Review'.

How did we get here?

How did we get to one of the worst financial and economic disasters in the history of the United States? How did this happen? Some people may want to point to what I see as symptoms. Some want to complain about the fiat currency system. Some want to complain about the markets themselves and blame speculators. But really? How did we get here.

We got here, to this point in the economy, through a lack of trust. Trust is the basis of all money. One of the topics I discuss, in the "Week in Review" podcast.

(Podcast Included. If you're seeing this entry elsewhere and cannot play the podcast? Click this link to go to the exact podcast entry ...)

Click here to download this podcast.

Here is the link to the PBS Series that is entitled: "The Ascent of Money".

They have an interesting portion of the first episode, something I was not aware of, on Europe's first wildly successful "Forex" traders.

For those who enjoy James Clavell novels, and the exploits of Dirk Struan? At the end of episode two, he tells the story of the real Dirk Struan. The Tai-Pan, William Jardine.

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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 13 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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