Today we celebrate in our twin island state of Trinidad & Tobago Emancipation Day! The day the slaves in our country were freed from slavery. I am sure most are elated that it is a holiday and some truly appreciate what the day means. There is, however, a struggle that exists in the public sector regarding the “emancipation” of money promised to them by the government. Unlike my family, co-workers and peers, I fully understand why the government is responding the way it is. Nevertheless, I will share three reasons why I want the emancipation of my dues:
1) Fiat currency (paper money) is losing value every year.
A simple Google search about the history of Fiat currency will enlighten you on how worthless it is in the long run. Think about it, how many sweets you could have bought for one dollar from 1990 – 2008? How much can you buy now? How much you think you can buy in 2020? Although I just used candy as an example can you imagine what prices of more important things such as food, clothing and housing are going to be in the future?
2) Crude Oil Price.
This is the resource we depend upon to give us the majority of our revenue and foreign exchange. Low oil price means less revenue in general and some policies that will not be in our favour. I am sure our finance minister is kissing the feet of and making pacts with creditors to whom, we, the worker, will have to pay back (more on that another time).
3) The prices of real assets are going up.
Have you taken a look at the price of gold within the last 8 months? How about the last 16 years? If you are stunned by what you see, then even you should realise the future potential of such an asset class. While Bitcoin is taking a monetary hit, rest assured, it will regain strength in the coming months and reach levels that are quite stunning for a currency that’s “the new kid on the block”.
In the coming days, weeks, months ahead, I will show you what is really happening and how you can protect yourself and even prosper in these very weird times indeed. Be truly emancipated, my dear readers!