Q & A with Richard Duncan, author of The New Depression Richard Duncan This is a very ambitious book. Its theme is that a new credit-driven economic system has replaced Capitalism in recent decades and is now at risk of breaking down into a New Great Depression. Is that correct? Yes. In 1968, when the United States stopped backing dollars with gold, the nature of money changed. The distinction between money and credit became blurred and the constraints on credit creation were eliminated. Over the next 40 years, total credit in the US expanded 50 times from $1 trillion to $50 trillion. That explosion of credit financed unprecedented global prosperity. There is now a grave danger that this new credit-fuelled economic paradigm will break down into depression because the private sector cannot bear any additional debt. But why do you call this a new economic paradigm? Isn't that just the way Capitalism works? No. Capitalism was an economic system in which the private sector created growth through a process of investment, profit and capital accumulation (hence Capitalism), in an ongoing cycle. The government played very little role. Our economic system has not worked like that for decades. The US government now spends $25 out of every $100 spent in the economy (25% of GDP) and the central bank "creates" the money and manipulates it value. That is not Capitalism. Moreover, the economic dynamic is no longer driven by investment and capital accumulation. Our system is driven by credit creation and consumption. Creditism is a more appropriate name for it. Creditism has created extraordinarily rapid growth for decades, but now seems to have hit its limit to create more growth because the credit that has already been extended can no longer be repaid. Therefore, no further credit expansion appears possible. Why do you believe credit growth is so vital for economic growth? Since 1952, there have only been nine years when total credit (adjusted for inflation) grew by less than 2% in the United States. Every time there was a recession; and the recession did not end until there was another large surge of credit expansion. In this book you introduce the Quantity Theory of Credit. What is that? The Quantity Theory of Credit is an adaptation of the centuries-old Quantity Theory of Money--adapted to make it pertinent to this new age of fiat money. It is a simple, but powerful, analytical framework that explains all aspects of this crisis: its causes, the government's policy response to it thus far, what's likely to happen next and the impact that future developments will have on asset prices. On the topic of asset prices, will this book help individuals make better investment decisions? Yes. Chapter Seven lays out scenarios of how events are likely to unfold between now and 2015; and describes how asset prices would be impacted under each scenario. Chapter Ten discusses why asset prices now move in unexpected ways compared with the way they would be expected to behave within a Capitalist system. It also discusses the prospects and consequences of inflation and deflation, as well as the advantages offered through diversification. Finally, do you believe the global economy will collapse into a New Great Depression and what will happen if it does? The flaws of our new economic model, Creditism, are all completely obvious now. However, there are extraordinary opportunities that exist within this system that we as a society have not yet grasped. They are described in Chapter Nine. My goal in writing this book was to point out what those opportunities are so that we can avoid the terrible economic calamity that may be inevitable otherwise. Should we fail to understand and take advantage of the opportunities our new economic system presents, the economic and geopolitical consequences are likely to be dire. Chapter Eight, Disaster Scenarios, spells out just how bad things could become if we don't come to grips with the nature of our new economic system and implement a bold and imaginative strategy that ends this crisis.
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Forex markets are now the biggest and most popular financial markets in the world. Many people have heard all about how much money can be made and how easy it all is but is that really the case? In this book we show you the truth about the Forex markets and give you the platform you need to start your Forex trading journey.Every base is covered here including popular myths and misconceptions, different ways to trade the markets, how to understand price charts, using price action to profit from the markets, building a trading plan, money management and more. If you're really interested in becoming a forex trader or just interested in the subject and want to understand more, then look no further.
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How to Tap Into a Global Torrent of Cash without Risking the Family Farm by Marc CharlesIntroductionDear Entrepreneur:You can tap into a global torrent of cash in the Forex market.But more importantly, you don't have to take unnecessary risks or lose the family farm.Ironically, the big losses and ridiculous risk exposure typically occurs after a long period of winning trades.Jon Corzine saw this first hand with MF Global. He was the CEO of MF Global. The firm lost more than $650 million in various markets recently.Granted, these losses were not isolated in the currency or FOREX markets. But you can bet a significant portion of the portfolio was at risk in this market.MF Global had a long winning streak of profitable trades.At some point, without a great respect for downside risk (at all times), you become invincible. Traders (and gamblers) often believe they are invincible. No one is invincible. So, even though this e-book is a short "cheat sheet" on making money in the Forex market, I'll spend some time on avoiding undue risk.ContentsIntroductionMy Exposure to ForexForex is a legitimate multi-trillion dollar global market"But I Don't Want to Lose Money"!Cut the losers short and let the winners runThe Forex Majors The $3.90 trillion break-down The difference between FX and currency futuresNew "Mini" Forex AccountsBrokerages offering "Mini" FX accountsForex Basics - Easier Than You Think!Buying and Selling CurrenciesHow Base Currencies Are QuotedThe Rollover TransactionForex MarginHow to Accelerate Your Forex Learning CurveStrategy for Limiting LossesThe 80-20 Strategy Don't Listen to Losing TradersThe Price Action StrategyThree ways to leverage price action and make money:The Odds StrategyMarkets Discount FundamentalsWhy Trends PersistThe Importance of Human NatureClosing thoughtsAbout Marc CharlesWhat People Saying About Marc CharlesValuable Resources50,000 Forex Practice AccountForex Training and EducationForex SoftwareRecommended Books on Trading Forex MarketsOpening a Forex Trading Account:Disclaimer
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Whether you are trading stocks, indices, foreign exchange, bonds or commodities, you could use the Elliott Wave Principle to dramatically improve your results. It is no surprise, then, that professional traders and investors invariably use Elliott Wave analysis as a key decision making tool in their market activity. However, most people who try to learn the techniques by themselves often run into difficulty because the real world market movements appear to be different from the examples found in most standard reference books. This book will give you a detailed "working" knowledge of the Wave Principle. Written in simple language, and with plenty of recent and real life examples, "Five Waves to Financial Freedom" will likely become your favorite reference book which you could use to quickly verify whether your own interpretation of the market fits in with the author's guidance. With its liberal use of cross-references, this book will enhance your understanding of the rules and guidelines that govern the Wave Principle. Furthermore, you could use the hundreds of examples available in the author's website to support what you learn from this book. The techniques outlined in this book are the very same techniques that Ramki has successfully used for nearly 30 years. About the Author: N.Ramakrishnan ( Ramki) is a Treasury Manager with nearly 30 years of market experience. His views are sought after by traders, hedge-fund managers, investors and corporate treasurers from around the world. Ramki has been using the Elliott Wave Principle almost his entire career, and he shares his unique perspective on the markets.Forbes has recently counted Ramki as one of the three excellent Elliott Wave Technical Analysts out there.Raves from readers: "I have found your book on Elliott Wave Analysis to be just as the reviews described it - easy to read with practical examples of how to use EW..."Micheal C"Thank you for the wonderful book on Elliott Waves. It is easy to understand and is not confusing as others on the same subject." Colin P"...Moreover your own concept and combination of Fibonacci ratios are outstanding..." M Dham"I gained lot of confidence on Elliott Waves by reading your book. Became regular reader of your blog too..." Suren B"I can safely say that I haven't seen analysis that was clear and more simply done than yours. Elliott Waves Analysis made easy.." Nikhil L"Thank you very much for great book. My first lessons on Elliot Wave Theory.." A.Ayyagar"I finished reading your book and must say that of all the books on Elliott Waves that I have ever read and is available in market, this one is best in helping to understand the Wave Principle and its practical application.. "Tushar K"I bought your fantastic book on Elliott Waves from Amazon.com.." Mukesh C"I found your book on Elliott Wave Analysis to be the perfect supplement to both Frost and Balan's books on Elliott Waves.." Jeff M"I must tell you that your book on Elliott Wave Analysis is absolutely great. No undue decoration, just plain Elliott. Your personal insights throughout the book provide invaluable tips for real time wave counting.. " Ann D
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A chance meeting or was the universe just delivering what I was searching for?I was in a crowded cafe at lunchtime enjoying some minestrone soup and whilst pondering the elements that made it so good, my table shot to the left and the soup exited on the right. The culprit, an expensive suit apologized and ordered me another. I tried to make polite conversation but sitting down with his colleague; he made it clear that conversation was not on the cards.I admit I was eaves dropping, I had to, they were talking about the markets and trading was currently not going well for me.I was just about to try my luck at gleaning some information when one suit said to the other "OK so the deal is this, you do not act today in one, you assist if needed, and that's all. Blue will be setting up from 2-3:30 news at 2.30 you step in at about 46 and pick up the stragglers, OK?" "Yes, got it" the other suit replied, "Now lunch and no more work talk". They drifted off into talking about boats and my courage to interrupt faded. Soup finished I decided to go and see the London Stock Exchange building before heading back home. I got lost on the way but eventually I was standing in front of the building when I heard a familiar voice, I turned to see Mr Minestrone, as I now like to call him. He looked dead at me with a very surprised expression, which then turned to what I can only describe as a glare as he brushed past. He then looked again over his shoulder as he entered the LSE building. That was the last I ever saw of Mr Minestrone and although I did not realise it at the time he was to be the most influential person I have ever met regarding trading the markets. However, it would be several more years before the overheard words of Mr Minestrone would change my life forever.A word of warning! What you are about to read is going to possibly shock you, and for certain, many of your currently held beliefs about how markets work are going to be left in tatters. You are about to discover the real market, a market that few traders rarely ever get to truly understand and I estimate less than 1% of the general public have a notion of. Untruths, corruption, misdirection and manipulation are the contents of the great murder mysteries novels. The financial markets contain the same ingredients.This book is written for the traders who have tried all the systems, the patterns, the indicators, the strategies, listened to the gurus on expensive courses and spent the normal $97.00 for the rehashed trading secrets only to once again be disappointed. This book is for the trader who has reached the point where they know something is wrong with the way trading is presented and are ready to get off the merry go round of madness. The trader who is ready to start developing a solid trading future based on the never changing rules of the market makers.How to use the information on this book.The way to use the information contained is to observe the book contents as they are executed by the market makers in your charts. Next, return to the book and break down the three phases into the three distinct areas that you will have observed in your charts. It will take you no longer than 3-4 days to observe and then understand exactly what is going on for each and every market move.Now you will be starting to read your charts from the INSIDE out instead of the outside in. Now you can start to trade with the confidence that you have full understanding of what the market is going to do next as it heads towards the profit release phase of the market makers that you will be joining.
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Most people believe that it is our natural right as human beings to benefit from our hard work. In days past, farmers would till the soil, sew the seed, wait for rain, weed and tend their crops and then late in the fall when the time was just right, harvest what was hopefully a bountiful crop.Believe it or not the Foreign Exchange, as with any market, can operate the same way. If we prepare correctly, sew properly, tend our crops and then harvest in a timely fashion, every week we can enjoy a small bounty of what has become an almost four trillion dollar a day currency market.
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How does one become a better trader? That's exactly what Jared Mast asked himself when he decided to interview some of the top financial traders in the trading industry today. From a hedge fund manager that turned $20 million into over $947 million, to a legendary commodities trader who turned $10,000 into over $1,000,000 in one year, The Trading Elite reveals the necessary traits and skills needed to succeed in today's markets. Successful traders like Larry Williams, Michael Bigger, Mike Bellafiore, Timothy Sykes and more share exactly how they rose to the top and how you can too by radically transforming your trading habits to those of professionals. "If you want to end up with a nonaverage net worth, a 'learn from someone else' attitude is paramount. Putting your ego aside and admitting that you don't know it all isn't easy, but it is the mindset of true winner" - Paul Tudor Jones.
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Your plain-English guide to currency tradingForex markets can be one of the fastest and most volatile financial markets to trade. Money can be lost or made in a matter of seconds, and forex markets are always moving. So how do you keep up? This hands-on, friendly guide shows you how the forex market really works, what moves it, and how you can actively trade in it — without losing your head!All the world's a stage — get an easy-to-follow introduction to the global forex market and understand its size, scope, and playersShow me the money — take a look at the major fundamental and economic drivers that influence currency values and get the know-how to interpret data and events like a proPrepare for battle — discover different types of trading styles and make a concrete strategy and game plan before you act on anythingPull the trigger — establish a position in the market, manage the trade while it's open, and close out on the most advantageous termsOpen the book and find:Currency trading conventions and toolsKey characteristics of successful tradersTrading pitfalls to avoid and risk management rules to live byHow major currencies typically tradeWhy it's important to be organized and preparedThe 411 on buying and selling simultaneouslyTips for understanding rollovers and interest ratesLearn to:Grasp currency quotesCapitalize on the foreign exchange marketManage risk and rewardUse the forces that drive currency movementsIdentify key traits of individual currency pairs
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It's the most popular ebook on currency trading ever written - downloaded over 500,000 times over the last 10 years. The ebook describes a simple approach to trading currency that removes the guesswork, and provides an achievable roadmap for trading successfully in the world's largest and most volatile financial market.This isn't a book with a set of rules for a trading strategy. The book doesn't tell you where to buy or where to sell the EUR/USD or any other currency pair. If you're looking for a book about specific tactical setups for trading - then there are many, many good books available.What this book does is attempt to set your expectations at a more realistic level from the very start. It's a book about perspective. And a right perspective from the start is essential.
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Fast/Low Risk/High Return Currency Trading
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