The stock markets have taken a hard tumble and smacked their faces on the concrete. They’re trying to get to their knees but they will fall down again. Governments are printing money to forestall a Depression, but that will soon kick inflation into high gear.
People can understand how these events can destroy wealth, but we’re often stuck in our own little bubbles when it comes to how our money is valued in terms of other peoples’ money.
A US dollar doesn’t buy the same amount of stuff as a Canadian dollar. One Australian dollar doesn’t by the same amount as a British pound. Currencies are valued against each other and the value of your money could be silently bleeding away. That’s why people in Argentina buy and sell large ticket items like cars and houses for dollars instead of Argentinian pesos.
You don’t want to allow yourself to be put in a position where you work a ton of hours, get paid the same amount, and end up being able to buy less with your money.
To truly protect yourself and your money from losing value, you need to know how and when to trade currencies.
If you’re curious about how to protect the value of your money and how to make even more in the process, click on the link below and complete your application to schedule a time to speak with one of Maverick Trading’s staff to learn how we trade the FX Markets.