SPOILER ALERT: move your money out of cash and into something that effectively stores value!
What does it mean to YOU that Janet Yellen, the most important person in the world, Chairperson of the US Federal Reserve, just said on CNBC that “Cash is NOT a CONVENIENT store of VALUE...”?? [Source: “Santelli Stunned As Janet Yellen Admits “Cash Is Not A Store Of Value””, by Tyler Durden, Zerohedge.com. Mar. 27, 2015.] [Also see YouTube video below.]
Isn’t that supposed to be what cash is? A CONVENIENT store of value. That’s why we call it “money”, or “currency”. Cash, is supposed to be “money” and money is supposed to be a convenient denominator of value, a way to store and transport your wealth CONVENIENTLY. But we just learned from the world’s most authoritative expert, the world’s top dog, the world’s head Money Master, that the stuff we think is cash, the colorful paper and fancy-stamped coins we pull out as “cash”, or cash-backed credit/debit cards, from our purse or wallet, really is not a useful way to store, and therefore to transfer value in the conduct of commerce.
In the old days, “money” was defined by hard assets, physical things such as gold, silver, pigs, cows, guns, and anything else that was physically desirable and useful. Over time we learned that it was inconvenient to stuff 10 pigs into the back seat of our cars in order to go buy groceries for the week. Paper and coins that the government said we could and should use became legal tender, became, “money”. By carrying government sanctioned paper and coins and trading that for physical goods and services, merchants were obligated to be cooperative. We TRUSTED that the government would protect the face value of the paper notes or coins. We TRUSTED that because the government would look after us, the government would protect cash, money, as a good, reliable, solid, trusted, CONVENIENT way to store value.
What a shocker to hear the very words of the world’s head MONEY MASTER proclaim that CASH is NOT a convenient way to represent value for business transactions. Yellen was specific in her choice of words. She specifically said, “not CONVENIENT” as a way to store value. If this is true, doesn’t that make cash just the opposite? Doesn’t that render cash as “non-money”?
The authority, WEBSTER’S DICTIONARY defines the word “convenient” as suitableness, laborsaving, person[ally] comfortable, near at hand, or EASY. So, cash is NOT any of these. In other words, you’d have to be a dummy after this to continue to think that it is a good idea to keep your savings accounts in the form of cash if you think you can just park it and that it will retain its value over time. Or stated another way, it is going to be DIFFICULT to use cash as a tool to save your wealth from the ravages of inflation, wars, theft, abuse, or even as a vehicle by which to pass your family wealth to your next generation.
So, if you have CASH, according to the very words of the person who knows the most about cash, Janet Yellen, cash is NOT a way to store your wealth in an easy, suitable manner. Then, what is? What SHOULD you be doing with your cash instead of leaving it in the form of cash?
Maybe now you’ll believe me when I warn, and have been warning all along, that NOW is a good time to go speak with your qualified, certified, FINANCIAL PLANNER or FINANCIAL ANALYST to have a lengthy discussion about what you should be doing with any cash you may be accumulating in banks or trading accounts.
Go talk to a financial pro and do so SOON. Yellen is just about yelling at you to do so.
[Source for VIDEO that follows: ZEROHEDGE.COM and YOUTUBE.com.]