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Currency Collapse – This is happening at pace. Any asset that is linked to fiat money will continue to drop this year. Ongoing printing of money is causing high inflation and as a result, prices are skyrocketing, interest rates are increasing, and this will put us back to how things were in the 1970s. Assets such as property will also lose value over the next year, while mortgage rates will soar. This is a critical time for personal wealth and we will see the biggest shift of money as people move their cash away from fiat and centralised systems. Currently, the riskiest thing anyone can do currently is have their money tied up in currency. Everything is uncertain.
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BRICS Currency – BRICS stands for Brazil, Russia, India, China and South Africa. In 2009 these countries came together to form an association similar to the G7. They plan to start their own currency to rival the dollar that will be used across all the BRICS countries and will be backed by gold. This is a situation that is worrying for the West and could end up with the dollar being knocked off as the reserve currency.
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Making money grow for you – Brian Jung, YouTuber and self-made multimillionaire at just 24 years old, shares his insights: “Right now we are in a really interesting place, in terms of the economy, interest rates, and inflation. People are asking, ‘What is the next move, if everything is going down, what should I do?’ People need to start investing in themselves and take notice that there are many more ways to gain money and generate income. It starts with being involved in a community and honing in on a skill set and offering value to others. Once you’ve identified a good investment opportunity look to create revenue streams that are passive investments where you can reap the rewards without having to put in any work.”
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Cashflow-Generating Assets – Brian Jung, continues, “Volatile markets such as crypto are a great way to create cashflow-generating assets. Bitcoin is one of the safer coins to buy but there are others such as Ethereum, Cardano, Solana or XRP that offer higher returns in a quicker timeframe. My advice is to look at the market as a whole with the high-caps, mid-caps and microcaps, it is a domino effect, so if the high-caps such as Bitcoin go down, the others are likely to follow and if they go up the others will also rise. It is a good place to start when predicting market movements. Another reason I chose to invest in Crypto is that it offers a deeper way to create wealth and you can even 10x your money. With Ethereum, I can buy defi products or NFT or earn different types of interest on different exchanges. You can maximize the money you are making on a whole new level by investing in NFT projects and I have recently seen them blow up and create huge amounts of wealth overnight, even where an original investment may be a single figure we are now seeing assets become six figures or more.”
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Devaluation – Jaspreet Singh, YouTuber Minority Mindset and founder of Market Briefs, shares: “We are in an economic slowdown and that makes people panic, but more millionaires are made in a recession than at any other time. But how do these people become millionaires? I believe it is through financial education. There are many tools available now, but without an education, people will still get burnt. I invest my money in five areas, including my business, start-ups, stocks, cryptos and gold. But before I invest, I understand what I am investing in, and I diversify my portfolio to ensure that I am prepared for whatever the future holds. Don’t use debt to fund investment, debt accelerates losses, and a small mistake can become a huge crash.”
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