The Economics of Free Money

Free money generally isn't. Understand why and you might find something free that is worth more than you pay for it. Embrace too much positive thinking and prepare to get ripped off.

There are shady offers out there: short-term loans at astoundingly high interest rates, gambling sites, day trading systems of dubious merit, and more. Let us consider the trading systems. Do you really think it is easy to outwit the PhD mathematicians who do this for a living? Could there really be a system to do so available for a few hundred dollars? If such a system existed, the creator could make far more applying the system than selling the secret online.

Then there are the somewhat more legitimate offers. Yes, you can get paid to take surveys. But look at the payments. Is it really worth your while to answer 20 questions just to make 15 cents? This money is not free; it is tedious work for less than the minimum wage.

Your challenge extends beyond mere shady characters. Giving out free money is hard to do. Suppose a billionaire wanted to make his ten billion dollar fortune available. There are over 300 million people in the United States. That comes out to about $33 each if everyone participates. This is hardly significant, so philanthropists put conditions on the money they give out. That means applying for grants, which is not a trivial effort. Then you have to do whatever you propose to do in your grant application. The money is thus not free. (For comparison, note that McDonald's gives out grants to teenagers to flip hamburgers.)

The government can afford to be more generous with its largesse, but even with the government the money is not entirely free. Think back to the early attempts at welfare. The government gave out money to poor single mothers to help support their children. What could be wrong with that? For women who already were poor single mothers, these programs were wonderful help. Alas, with such enticing money available, others began to "work" for it. Teenage girls would choose to get pregnant in order to qualify for funds. Poor couples would opt not to get married in order to qualify. Even for the original poor single mothers, the money came with a price: get married and you lose the benefits. Welfare alleviated and extended poverty at the same time.

How about government programs to help you get ahead? Some of them are useful. If you are college material and are willing to study, government provided grants and loans are indeed to your benefit. Yet even there we some negative side effects. With more people able to afford a college education, a college degree is not worth as much as it used to be. Even a law degree is no longer the guaranteed path to prosperity it once was. Furthermore, with all this government money available, colleges have been ramping up tuition.

Free money from the government is close to being free under two circumstances. First, if the government benefit, grant, or tax credit is for something you are going to do anyway, such as go to college or install a geothermal heat pump, then the money is free save for the application headaches. Second, if the money is truly unconditional, if there is nothing you can do to affect whether you qualify, then the money is free.

Unlike our aforementioned philanthropist, the government has trillions of dollars to work with. Were it to replace the current maze of grants, benefits, loan guarantees, and tax breaks with unconditional money, every citizen could receive a nontrivial sum each month, with little paperwork required.

Diamond Buyers To The Rescue

When it comes to the question of how to sell diamond, one might be stupefied. There are many gold exchanges that advertise their buying services online, some even state that they take up diamond jewelry. But do they really give the true value of such diamonds? If not, where should one go to sell engagement ring made of diamonds and get the optimal value for it? These questions can be answered when one approaches the different online diamond merchants who are eager to take up diamonds as loose stones or set as jewelry from people who are willing to sell them.

Lure Of Buyers Online

The lure of buyers who want to buy your diamond from you is irresistible. Not only do they advertise to specialize exclusively in buying diamond from clients, they state they will provide cash in a matter of hours. Many feel intrigued with such statements and testimonials that they provide. Usually people opt to sell diamond only when they are in dire need of cash. Since such jewelry is usually treasured, only when defects arise or the stones become loose, people toy with the idea of selling them in return for ready cash. And those who advertise their services as diamond buyer usually land in the eyesight of such people.

Ring Valuations

When one is about to sell engagement ring, then one usually seek buyers who have experts on board who can do ring valuations. Usually engagement rings are of different styles and come of differing price brackets. There are prong settings or band styles among engagement rings. Again, there are rings that have a larger diamond in the middle and smaller diamonds surrounding the larger diamond. The three stone diamond rings called the trilogy rings are also popular as are the diamond clusters on gold rings. Though selling of engagement rings is usually an emotionally difficult process, there are professional buyers who make it fast and objective, so that customers are happy with the valuation and they walk away satisfied.

Large Variety Of Rings Accepted By Buyers

It is useful to choose a buyer who is open to taking up different styles of engagement rings. Some may decline to take up rings made of diamond clusters or solitaires. However there are registered diamond merchants who will accept any form of diamond ring or loose stones and provide the right evaluation service for any of them. Such buyers are blessing for the customers.

Know The Value Of Your Diamond

At the time of selling diamonds, one may have lost all certification or details that one has about the stone or the jewelry that stated its value. When it comes to diamonds, knowledge of the 4cs is important. The cut, clarity, color and carat needs to be known about any diamond that one possesses. Even if one does not have the original certification, one can seek the certification of a laboratory for the diamonds that one possesses. Such details come of use when one is aiming to sell diamond jewelry online.

How to Find the Right Investment Advisor

Money isn't easy to come by and you want to make sure that anything you invest will be there when you need it. Since investing your savings can be complicated and time consuming, most people decide the best course of action is hiring an investment advisor.

What is An Investment Advisor?

When you meet with an investment advisor you are meeting with a person who takes a look at the market, listens to your long term financial goals, and considers the amount of money you can afford to invest. They use all this information and provide you with advice about investments that should help you make the maximum return on your money.

Questions You Need to Ask

When you decide it's in your best interest to use a professional to help you save for your future, you want to make sure you're using the best. Approach the initial meeting with the advisor with the same kind of attitude you would have if you were an employer conducting a job interview. Have a list of questions ready to go.

Be very blunt and ask exactly who will be overseeing your account. There have been stories of people who assumed one person was going to be handling things only to find out much later that the account was actually being handled by several different people. Make it very clear that you want to be able to communicated directly with anyone who has access to your account and is making investment decisions,

Find out how often the investment advisor in charge of your account will take the time to review your current portfolio. This should be something they plan on doing with a great deal of regularity. In addition to checking the portfolio and gauging the status of current investments, they should also get in touch with you each time to discuss any changes that have come up. A good investment firm will be diligent about communication and want to make sure you're up to date on how your investments have performed.

Make sure you ask exactly what the advisor feels their responsibilities will be. This is a very important question. Even firm has it's own policies regarding how hands on their advisors are. You need to know if the person you're considering working with will be making changes to your portfolio and overseeing all of the investments, or if they're acting in a purely advisory role. Once this question has been answered, you need to ask yourself if you're comfortable with the amount of involvement the advisor will have.

At some point you are going to have to find out how much the investment advisor's services will cost. This is another thing that tends to vary from one professional to another. It's up to you to decide if the fees seem reasonable and if you can afford them. The better the advisor's reputation is, the more they're going to charge.

The nice thing about asking about how much the investment advisor's fees will be is that it creates a nice segue into asking about fudicary responsibility.

If you're not happy with the answers you get to your questions, the best thing you can do is say a polite good-bye and look for a different investment advisor.

Good luck in your search for the best investment advisor!

Six Things You Must Consider When Preparing Your Will

Preparing a will to protect your assets and your heirs is always an excellent idea, but many people try to do this themselves and end up leaving out critical information. If the document doesn't have all of the elements required by law, it could be declared invalid after your death, putting your estate at risk and causing unpleasant strife between your potential beneficiaries. To minimize that risk, be sure that all of the features outlined below are included.

A Clearly Designated Executor -- Consider A Will Attorney

You should appoint someone you know and trust as the executor. Although many people choose a family member, you could also appoint a will attorney, as he or she would be completely impartial. Be sure that whomever you appoint is willing and able to take on the responsibility. Taking things through probate and distribution can be a lengthy, complex process. If you don't choose someone, the courts can appoint an executor for you, and it may not be the person you would have chosen.

Clear Division Of Assets

It's easy to write a will that says you want each of your children to select a few items that have sentimental value from your home, but this often leads to family feuds over valuable assets. Clearly outline who gets what to avoid this kind of trouble. If you want to divide your assets equally between several people, talk to a will attorney about getting your real estate and personal property appraised before writing estate plan. This makes it easier to divide your assets equitably.

Funeral Instructions

Many people assume that their descendants can choose the funeral arrangements, but this is a burden that your children would probably rather avoid. It's difficult for surviving family members to cope after a loved one passes away, and adding to that burden can cause a great deal of pain. Outlining where and how you want your funeral to be handled, including how much it should cost, means one less worry for your loved ones.

Guardianship Of Minors

Regardless of whether your child is six or sixteen, a will attorney can advise you on how to appoint a guardian for your child or children. This is the person making day-to-day decisions for the child and ensuring that he or she is properly cared for. You should choose a guardian who can raise your child in a manner similar to how you are raising your child to minimize confusion.

Instructions About Pets

Pets aren't recognized as people by the courts, so you cannot leave money directly to your dog or cat, although many people have tried. Pets are considered personal property, and as such must be left to a specific person. Choose someone who can love and cherish your pet as much as you do. If you want to leave that person some funds to help with your dog or cat's expenses, consult with a will attorney who can advise you on setting up a specific fund for that purpose.

Discharging Debts And Obligations

When someone passes away, it's inevitable that there are some outstanding debts and obligations that have to be paid by the estate. If you include clear instructions and account for these duties in your will, that's one less burden for your children.

If all of this leaves you confused, you aren't alone. Most people who try to prepare their own wills quickly realize that consulting with an attorney is the best way to ensure that their heirs are protected and that their wishes are carried out properly. If you have any questions about how to structure your estate, contacting a will attorney should be your first step.

Leaping Into the 6th Technology Revolution

We're at risk of missing out on some of the most profound opportunities offered by the technology revolution that has just begun.

Yet many are oblivious to the signs and are in danger of watching this become a period of noisy turmoil rather than the full-blown insurrection needed to launch us into a green economy. What we require is not a new spinning wheel, but fabrics woven with nanofibers that generate solar power. To make that happen, we need a radically reformulated way of understanding markets, technology, financing, and the role of government in accelerating change. But will we understand the opportunities before they disappear?

Seeing the Sixth Revolution for What It Is

We are seven years into the beginning of what analysts at BofA Merrill Lynch Global Research call the Sixth Revolution. A table by Carlotta Perez, which was presented during a recent BofA Merrill Lynch Global Research luncheon hosted by Robert Preston and Steven Milunovich, outlines the revolutions that are unexpected in their own time that lead to the one in which we find ourselves.

• 1771: Mechanization and improved water wheels
• 1829: Development of steam for industry and railways
• 1875: Cheap steel, availability of electricity, and the use of city gas
• 1908: Inexpensive oil, mass-produced internal combustion engine vehicles, and universal electricity
• 1971: Expansion of information and tele-communications
• 2003: Cleantech and biotech

The Vantage of Hindsight

Looking back at 1971, we know that Intel's introduction of the microprocessor marked the beginning of a new era. But in that year, this meant little to people watching Mary Tyler Moore and The Partridge Family, or listening to Tony Orlando & Dawn and Janis Joplin. People would remember humanity's first steps on the Moon, opening relations between US and China, perhaps the successful completion of the Human Genome Project to 99.99% accuracy, and possibly the birth of Prometea, the first horse cloned by Italian scientists.

According to Ben Weinberg, Partner, Element Partners, "Every day, we see American companies with promising technologies that are unable to deploy their products because of a lack of debt financing. By filling this gap, the government will ignite the mass deployment of innovative technologies, allowing technologies ranging from industrial waste heat to pole-mounted solar PV to prove their economics and gain credibility in the debt markets."

Flying beneath our collective radar was the first floppy disk drive by IBM, the world's first e-mail sent by Ray Tomlinson, the launch of the first laser printer by Xerox PARC and the Cream Soda Computer by Bill Fernandez and Steve Wozniak (who would found the Apple Computer company with Steve Jobs a few years later).

Times have not changed that much. It's 2011 and many of us face a similar disconnect with the events occurring around us. We are at the equivalent of 1986, a year on the cusp of the personal computer and the Internet fundamentally changing our world. 1986 was also the year that marked the beginning of a major financial shift into new markets. Venture Capital (VC) experienced its most substantial finance-raising season, with approximately $750 million, and the NASDAQ was established to help create a market for these companies.

Leading this charge was Kleiner Perkins Caulfield & Beyers (KPCB), a firm that turned technical expertise into possibly the most successful IT venture capital firm in Silicon Valley. The IT model looked for a percentage of big successes to offset losses: an investment like the $8 million in Cerent, which was sold to Cisco Systems for $6.9 billion, could make up for a lot of great ideas that didn't quite make it.

Changing Financial Models

But the VC model that worked so well for information and telecommunications doesn't work in the new revolution. Not only is the financing scale of the cleantech revolution orders of magnitude larger than the last, this early in the game even analysts are struggling to see the future.

Steven Milunovich, who hosted the BofA Merrill Lynch Global Research lunch, remarked that each revolution has an innovation phase which may last for as long as 25 years, followed by an implementation phase of another 25. Most money is made in the first 20 years, so real players want to get in early. But the question is: Get in where, for how much and with whom?

There is still market scepticism and uncertainty about the staying power of the clean energy revolution. Milunovich estimates that many institutional investors don't believe in global warming, and adopt a "wait and see" attitude complicated by government impasse on energy security legislation. For those who are looking at these markets, their motivation ranges from concerns about oil scarcity, supremacy in the "new Sputnik" race, the shoring up of homeland security and - for some - a concern about the effects of climate change. Many look askance at those who see that we are in the midst of a fundamental change in how we produce and use energy. Milunovich, for all these reasons, is "cautious in the short term, bullish on the long."

The Valley of Death

Every new technology brings with it needs for new financing. In the sixth revolution, with budget needs 10 times those of IT, the challenge is moving from idea to prototype to commercialization. The Valley of Death, as a recent Bloomberg New Energy Finance whitepaper, Crossing the Valley of Death pointed out, is the gap between technology creation and commercial maturity.

But some investors and policy makers continue to hope that private capital will fuel this gap, much as it did the last. They express concern over the debt from government programs like the stimulus funds (American Recovery and Reinvestment Act) which have invested millions in new technologies in the clean energy sector, as well as helping states with rebuilding infrastructure and other projects. They question why the traditional financing models, which made the United States the world leader in information technology and telecommunications, can't be made to work today, if the Government would just get out of the way.

But analysts from many sides of financing believe that government support, of some kind, is essential to move projects forward, because cleantech and biotech projects require a much larger input of capital in order to get to commercialization. This gap not only affects commercialization, but is also affecting investments in new technologies, because financial interests are concerned that their investment might not see fruition - get to commercial scale.

How new technologies are radically different from the computer revolution.

Infrastructure complexity

This revolution is highly dependent on an existing - but aging - energy infrastructure. Almost 40 years after the start of the telecommunications revolution, we are still struggling with a communications infrastructure that is fragmented, redundant, and inefficient. Integrating new sources of energy, and making better use of what we have, is an even more complex - and more vital - task.

According to "Crossing the Valley of Death," the Bloomberg New Energy Finance Whitepaper,

"The events of the past few years confirm that it is only with the public sector's help that the Commercialization Valley of Death can be addressed, both in the short and the long term. Only public institutions have 'public benefits' obligations and the associated mandated risk-tolerance for such classes of investments, along with the capital available to make a difference at scale. Project financiers have shown they are willing to pick up the ball and finance the third, 23rd, and 300th project that uses that new technology. It is the initial technology risk that credit committees and investment managers will not tolerate."

Everything runs on fuel and energy, from our homes to our cars to our industries, schools, and hospitals. Most of us have experienced the disconnect we feel when caught in a blackout: "The air-conditioner won't work so I guess I'll turn on a fan," only to realize we can't do either. Because energy is so vital to every aspect of our economy, federal, state and local entities regulate almost every aspect of how energy is developed, deployed, and monetized. Wind farm developers face a patchwork quilt of municipal, county, state and federal regulations in getting projects to scale.

Incentives from government sources, as well as utilities, pose both an opportunity and a threat: the market rises and falls in direct proportion to funding and incentives. Navigating these challenges takes time and legal expertise: neither of which are in abundant supply to entrepreneurs.

Development costs

Though microchips are creating ever-smaller electronics, cleantech components - such as wind turbines and photovoltaics - are huge. They can't be developed in a garage, like Hewlett and Packard's first oscilloscope. A new generation of biofuels that utilizes nanotechnology isn't likely to take place out of a dorm room, as did Michael Dell's initial business selling customized computers. What this means for sixth revolution projects is that they have much larger funding needs, at much earlier stages.

Stepping up and supporting innovation, universities - and increasingly corporations - are partnering with early stage entrepreneurs. They are providing technology resources, such as laboratories and technical support, as well as management expertise in marketing, product development, government processes, and financing. Universities get funds from technology transfer arrangements, while corporations invest in a new technologies, expanding their product base, opening new businesses, or providing cost-benefit and risk-analysis of various approaches.

But even with such help, venture capital and other private investors are needed to augment costs that cannot be born alone. These investors look to some assurance that projects will produce revenue in order to return the original investment. So concerns over the Valley of Death affects even early stage funding.

Time line to completion

So many of us balk at two year contracts for our cell phones that there is talk of making such requirements illegal. But energy projects, by their size and complexity, look out over years, if not decades. Commercial and industrial customers look to spread their costs over ten to twenty years, and contracts cover contingencies like future business failure, the sale of properties, or the prospect of renovations that may affect the long term viability of the original project.

Kevin Walsh, managing director and head of Power and Renewable Energy at GE Energy Financial Services states, "GE Energy Financial Services supports the creation of CEDA or a similar institution because it would expand the availability of low-cost capital to the projects and companies in which we invest, and it would help expand the market for technology supplied by other GE businesses."

Michael Holman, analyst for Lux Research, noted that a $25 million investment in Google morphed into $1.7 billion 5 years later. In contrast, a leading energy storage company started with a $300 million investment, and 9 years later valuation remains uncertain. These are the kinds of barriers that can stall the drive we need for 21st century technologies.

Looking to help bridge the gap in new cleantech and biotech projects, is a proposed government-based solution called the Clean Energy Deployment Administration (CEDA). There is a house and senate version, as well as a house Green Bank bill to provide gap financing. Recently, over 42 companies, representing many industries and organizations, signed a letter to President Obama, supporting the Senate version, the "21st Century Energy Technology Deployment Act."

Both the house and senate bills propose to create, as an office within the US Department of Energy (DOE), an administration which would be tasked with lending to risky cleantech projects for the purpose of bringing new technologies to market. CEDA would be the bridge needed to ensure the successful establishment of the green economy, by partnering with private investment to bring the funding needed to get these technologies to scale. Both versions capitalize the agency with $10 Billion (Senate) and $7.5 Billion (House), with an expected 10% loss reserve long term.

By helping a new technology move more effectively through the pipeline from idea to deployment, CEDA can substantially increase private sector investment in energy technology development and deployment. It can create a more successful US clean energy industry, with all the attendant economic and job creation benefits.

Who Benefits?

CEDA funding could be seen as beneficial for even the most unlikely corporations. Ted Horan is the Marketing and Business Development Manager for Hycrete, a company that sells a waterproof concrete. Hardly a company that springs to mind when we think about clean technologies, he recently commented on why Hycrete CEO, Richard Guinn, is a signatory on the letter to Obama:

"The allocation of funding for emerging clean energy technologies through CEDA is an important step in solving our energy and climate challenges. Companies on the cusp of large-scale commercial deployment will benefit greatly and help accelerate the adoption of clean energy practices throughout our economy."

In his opinion, the manufacturing and construction that is needed to push us out of a stagnating economy will be supported by innovation coming from the cleantech and biotech sectors.

Google's Dan Reicher, Director of Climate Change and Energy Initiatives, has been a supporter from the inception of CEDA. He has testified before both houses of Congress, and was a signatory on the letter to President Obama. Google's interest in clean and renewable energies dates back several years. The company is actively involved in projects to cut costs of solar thermal and expand the use of plug-in vehicles, and has developed the Power Meter, a product which brings home energy management to anyone's desktop-for free.

Financial support includes corporations like GE Energy Financial Services, Silicon Valley Venture Capital such as Kleiner, Perkins Caulfiled and Byers, and Mohr Davidow Ventures, and Energy Capital including Hudson Clean Energy and Element Partners.Can something like the senate version of CEDA leap the Valley of Death?

As Will Coleman from Mohr Davidow Ventures, said, "The Devil's in the details." The Senate version has two significant changes from previous proposals: an emphasis on breakthrough as opposed to conventional technologies, and political independence.

Neil Auerbach, Managing Partner, Hudson Clean Energy

The clean energy sector can be a dynamic growth engine for the US economy, but not without thoughtful government support for private capital formation. **[Government policy] promises to serve as a valuable bridging tool to accelerate private capital formation around companies facing the challenge, and can help ensure that the US remains at the forefront of the race for dominance in new energy technologies.

Breakthrough Technologies

Coleman said that "breakthrough" includes the first or second deployment of a new approach, not just the game changing science-fiction solution that finally brings us limitless energy at no cost. The Bloomberg New Energy white paper uses the term "First of Class." Bringing solar efficiency up from 10% to 20%, or bringing manufacturing costs down by 50%, would be a breakthrough that would help us begin to compete with threats from China and India. Conventional technologies, those that are competing with existing commercialized projects, would get less emphasis.

Political Independence

Political independence is top of mind for many who spoke or provided an analysis of the bill. Michael Holman, analyst at Lux Research, expressed the strongest concerns that CEDA doesn't focus enough on incentives to bring together innovative start-ups with larger established firms.

"The government itself taking on the responsibility of deciding what technologies to back isn't likely to work-it's an approach with a dreadful track record. That said, it is important for the federal government to lead - the current financing model for bringing new energy technologies to market is broken, and new approaches are badly needed."

For many, the senate bill has many advantages over the house bill, in providing for a decision making process that includes technologists and private sector experts.

"I think both sides [of the aisle] understand this is an important program, and must enable the government to be flexible and employ a number of different approaches. The Senate version empowers CEDA to take a portfolio approach and manage risk over time, which I think is good. In the House bill, CEDA has to undergo the annual appropriation process, which runs the risk of politicizing every investment decision in isolation and before we have a chance to see the portfolio mature." - Will Coleman, Mohr Davidow.

Michael DeRosa, Managing Director of Element Partners added,

"The framework must ensure the selection of practical technologies, optimization of risk/return for taxpayer dollars, and appropriate oversight for project selection and spending. **Above all, these policies must be designed with free markets principles in mind and not be subject to political process."

If history is any indication, rarely are those in the middle of game-changing events aware of their role in what will one day be well-known for their sweeping influence. But what we can see clearly now is the gap between idea and commercial maturity. CEDA certainly offers some hope that we may yet see the cleantech age grow up into adulthood. But will we act quickly enough before all of the momentum and hard work that has brought us this far falls flat as other countries take leadership roles, leaving us in the dust?

Gold Standard, 'ey? So, What's in It for ME?

Really, I'm serious. I have published a lot of heavy articles dealing with important issues regarding Gold and the Unadulterated Gold Standard; articles about the big picture, about the mechanisms of the Gold Standard, about the history of Gold, about the economic impact of Gold circulation, etc. etc... but no articles about the effects of an actual Gold Standard on an actual, average person.

Well, this series of articles tackles this very issue. Why indeed should the average Joe or Jane, someone in the middle of the earnings range; the wage earner, the retiree, the new graduate starting their economic life... why should they be interested in Gold or a Gold Standard?

After all, Gold is for the rich, right? And isn't Gold in the Central Banker's vaults just a 'tradition'? Isn't Gold a 'Barbarous Relic'? And surely, there is not nearly enough Gold in the world to replace the trillions of Fiat paper currency in circulation? And, if there was a Gold Standard, how would that affect 'ME'... ? The average 'ME' in the world has very little if any Gold... so introducing a Gold standard would not be fair to 'ME'... would it?

Any time I start musing about the Gold Standard, I see a powerful, emotionally charged (for me) image. It is an image of my long departed father. Whenever my father recalled his youth, telling me about his adventures... and misadventures... as a young man in Hungary, he would inevitably end up reminiscing about the 'peaceable days'... and every time he did, his eyes would take on a soft, far away glow; his features would become gentle, relaxed, indeed he looked like he was reminiscing about the Garden of Eden.

Well, as a young boy I was not sure what he meant, but the emotional impact stayed with me... understand that my father was not generally 'soft' or 'relaxed'. Even so, I eventually came to understand that by 'peaceable times' he meant the times before the madness of 'The Great War', WWI.

Much later, after I studied Austrian economics and met Professor Fekete and attended his Gold Standard University Live, I came to understand even more; namely WHY pre WWI days were of such a magical quality, a magical quality never to be seen again... I learned that it was because before WWI the world economy ran on the Classical Gold Standard.

Imagine a world where your wages are paid in real, actual Gold and Silver coins... not scraps of paper subject to bankster and G'man whims ( G'man is American slang for all government... including corrupt, power seeking politicos, entrenched, uncaring bureaucrats, torturing secret service apparatchik... all of them ); but solid, real stuff that cannot be 'printed' at some crooked politician's whim, real stuff that actually gains purchasing power over the years. Imagine that if you simply stash some of your wages in a pillow, and do nothing else... you will become richer every year.

Because that is what happens under a system of honest money; as the economy grows, as more productive technologies are created, the cost of producing, transporting, and retailing falls... so the price of everything slowly, gradually falls as well... and your wages and savings are worth more every year... without the need for a raise or a promotion... and without the need for some risky 'investment'.

Imagine a world where you get to actually keep your hard earned money... instead of having it confiscated by G'man, by bankster interest charges, and most insidiously by so called 'inflation'... more precisely, by 'monetary debasement'.

Because that is our world under Fiat paper; prices of everything rise instead of falling, wages never keep up with price increases, and any savings you may be able to scrape up will be destroyed by the evil of 'inflation'... but Mr. Bankster says 'some inflation is good for us'... yeah, good for him and his bankster buddies... certainly not for the rest of us. He has a printing press... we don't.

Imagine a world where war is very rare, because no G'man can afford a major war under Gold. Indeed, as the war clouds gathered before WWI, the pundits predicted that no major war could last more than a few months, because the combatants would run out of money... run out of Gold, that is. War is extremely expensive, both in wealth and in blood. The Gold Standard was sabotaged so the G'man could print endless paper currency to pay for the evil slaughter of WWI.

Because that is our world under Fiat paper; the G'man can afford war... so he thinks... because their bedfellows the banksters will simply 'print up' some more paper currency and lend it to the G'man... and of course hit 'ME' and you for the interest payments.

Indeed, if you look around, you see insane spending on the military, and wars on everything, everywhere. Our world is about as far from 'peaceable times' as you can possibly get. Destruction of humanity is but a button push away... and a psychopath has his finger on the button.

So, dear 'ME'... would you prefer a world where you can accumulate real wealth just by earning regular wages, and saving some... or this Fiat world where you must run ever faster, work ever harder, ever longer just to 'keep up'? Would you prefer a world where one wage earner can keep his family well fed, housed, clothed... or this Fiat world, where both man and wife must work ever harder just to 'keep up'... while the children get indoctrinated in G'man youth gulag... er public school?

Would you prefer to live at peace with your neighbors, 'live and let live', while trading with them for mutual benefit; 'let's make a deal'... or would you prefer to keep our Fiat world, a world full of war, terrorism, tyranny, neighbor killing neighbor... a world where you should 'kill your neighbor because if you don't they may kill you first'? And vice versa?

If any of this gets your attention, I am glad. People must wake up, must see the truth instead of believing all the Big Lies they are told... and bring change to the world by living the change themselves.

In the next few articles, we will look more closely at some of the Big Lies that have been spread about Gold. We will address the concerns you may have about how a Gold Standard would affect you... and 'ME'.

Top 8 Money Tips for NRIs

NRIs, have you been toiling hard to rake in that extra bit but unable to fathom where all your money disappears by the end of the month? Chances are there's a money leak. Fix it right away with a financial budget says Geeta Nair before your expenses balloon to unimaginable proportions leading you to a debt trap.

A financial budget can help you set your finances in order. It's all about personal finance. And it'll help you allocate your income appropriately among your needs, wants and desires enabling you to meet your financial goals easily.

1. Here's how NRIs can go about managing their finances:
Ascertain your total income: Jot down all your sources of income. Apart from your regular employment, your part time jobs, dividends, interest income from investments are all sources of income. Total them all.

2. Save at least 20% to 30% of your gross income:
Says Kairav Shah, Vice President, Personal Finance, Apnaloan.com, "Make it a point to set aside 20% to 30% of your total monthly income towards savings always. Leave this money untouched. And depending on your age, goals and risk profile invest this amount in mutual funds, equities, fixed income among others."

But then do you have a good support system in place?
For instance if you're living in places like Australia wherein children's education, retirement, health are supported by the government there's not much to worry. States Shah, "If you're covered under a social security in whichever country you reside, you may reduce the said percent by about 5%."

3. Buy property at the earliest:
NRIs, buy a home at the earliest wherever you stay outside India. Opines Shah, "Most NRIs make the biggest mistake of not buying a home in the foreign country they stay and continue to live in rented apartments for long periods. You must consider buying a home at the earliest. This is because over a period of time property gets expensive, and if you continue to wait, back home too you'll not be in a position to buy on your return after several years since by then the same may get unaffordable. You'd lose out both ways." Besides real estate investment in India is important too.

4. Are you spending on a need or a want?
Paying up your monthly rent, electricity and grocery bills are all needs you can't do without. But you can surely cut down on your several outings at expensive restaurants and shopping sprees that burn a deep hole in your pocket.

With several malls around convenience is in, no doubt. But think. Are you buying goods that you really need or are you following herd mentality? Have you used that food processor you bought last Christmas or is it still lying in a sealed pack in the corner of your kitchen unused? Analyse your past purchases and you'll know your spending habits.

5. Put off impulse purchases:
Do you go berserk when you hear of heavy discount offers, free gifts and cashback schemes. Stop! Simply put off impulse buying. That buy-one get-one free offer may not be as good as it seems. Besides, give a thought - do you really Need that shirt now or do you Want it because it simply appears to be a good offer?

6. Follow the 60:30:10 ratio:
Try maintaining a ratio of 60:30:10 between your needs, wants and desires. Maintain a list of each of your expenses howsoever insignificant they may seem. And you'll know how much you've ended up spending on items you don't really need. Segregate the fixed and variable expenditure. While there's not much you can do with the former, you can easily fine-tune your variable expenditure.

7. Contingency fund is a must:
Financial emergencies such as loss of employment, illness in the family, accidents etc can spring up unpleasant surprises just anytime. You need a contingency fund that can take care of sudden financial needs. Opines Shah, "Keep aside three to six months of your income for emergencies. And you won't have to dip into your savings in case of a financial crisis."

8. Stick to your budget, review regularly:
Creating a budget is easy but its hard to stick to it. Ascertain each time how closer you have been to your laid out plan. Make necessary changes wherever needed, fine tune and stick to your budget always come what may. Do a review to find out how far you're on track and whether there is a diversion at all. If yes, make up for the same in the next month and soon you'll be on the right track to achieving your goals.