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Wednesday, September 24, 2014

GFC: The Near Financial Armageddon

Well it happened and whilst 'hell on earth' did not eventuate it come damn near close. Some countries coming to the brink of near financial collapse, but fortunately here in Australia we were spared the agony of losing our shirts and britches, our good PM big Kev saved the day especially when all taxpayers hit the jackpot by receiving a $AU900 handout. Now that doesn't happen to often does it?

It was round this time readers I was looking at securing yours truly just in case things got nasty and turn belly up. Whilst on the net I came upon a book with an interesting title - Survive and Prosper in the Great Depression of 2009 - 2012 ~ A step by step guide to amassing a fortune trading foreign currencies by J.J. glenellis.

Forex huh! Although I was aware and heard of forex, to be honest I knew as much about it as I do about open heart surgery. Anyhow Mr Glenellis made it look o' so simple and now in hindsight it was, but back then I was still green and had little knowledge  and indeed even less understanding about the 'mechanics' of the currency market.

This market we call forex is so awesomely big, it is nothing for 4 trillion U.S. Dollars to be traded globally on a daily basis. It outsizes the stock market by a mile. Saying that we can see it is a beast to be reckoned with and as such takes no prisoners. Anyone who treats it like a casino or does not respect it will surely be chewed and spat out. This I discovered when the market devoured my first 1k, and tauntingly gloated at me for being so naive.

Time to get down to business and back to the drawing board.

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