The Credit Crunch and other Impediments

The Credit Crunch and Other Impediments have made it possible to keep me off-line and not writing for over a month now. My apologies, its been quite a while now. And within the month and a half so much has happened.

For the first time America has stood above racial prejudice and elected their first black President in Barak Obama. The Credit Crunch on the other hand has taken root and become a massive global recession.  The once strong British Sterling is now so weak its standing at nearly 1:1 with the Euro and just a bit over that with the US Dollar. How devastating for us all!

Well with the new President, I say well done, congratulations and now the hard work really begins, these are very hard times and what a burden he carries both for his nation and the world. So much is expected of him, I pray for God's wisdom to guide him, and for the other dark forces to keep off and let him do and achieve the best he can in the circumstances. To the rest of us I say on his behalf, don't expect superhuman results in the days, months and years to follow. Barak Obama is only a human being!

Now the Credit Crunch is another matter, I think the most poignant fact for me is seeing "Wollies" go down. That is the beloved name for the giant "Woolworths" that went into administration over the Christmas period. Many others have followed suit and so many people as a result have lost their jobs and maybe homes.

I must commend the Governments all around the world who have taken action promptly to reduce the massive negative effects of this economic disaster. For one thing the Banks have been saved from collapsing but unfortunately they still think they are financial masters and nothing can touch them. Well they should watch this space. If they don't change their ways, give back to the hands that fed them, help mend the fences that have come crumbling down in the last couple of months and stop over indulging their top directors and managers with fat cat bonuses, then whatever comes crashing down on their heads was brought on by nothing else but their greed.

I know I'm supposed to be collecting paper money, but I haven't done much in the past month. I've instead been taking care of my ill 5 year old, reaching down to my roots to understand the significance of the Obama Presidency and looking into ways to beat the credit crunch.

I know I'm straying but it is the sign of our times as the Credit Crunch and other impediments take up our limited time and resources.

Can You Relate? Paper Money Collecting Vs The Credit Crunch

Post keep churning round and round in my mind daily, but I have not done anything about it, because what I have to say the most has little to do with collecting Paper Money. All that pre-occupies me at the moment to be honest is the credit crunch, the state of the global economy and how we are going to get ourselves out of the mess we now find ourselves.

I know that some of us are still collecting and enjoying our collections, its good therapy and therefore if we are we should continue, but for now I would like to ask you my friends to indulge me a bit. Instead of starting a brand new blog I would like to continue to use this one as an avenue to express my views about what is going on around me as concerns finances, the economy and what we should do or how we should view our world.

Paper money collecting helped me to understand a lot about the history of money, banking and to some extent the economies of the West. What did I learn? In a nutshell that our economy as we know it today has been built on bankers giving out credit first that they had stored up in their vaults and then as Paper Money evolved, they started giving out credit over and above the value of gold and silver in their vaults. Obviously they had to keep an eye on devaluing the money by over extending credit. The shrewd bankers got the formula right and thus they built economies that have lasted generations supported and supporting the governments of each generation!

Unfortunately, this system has now gone bust. So what are we going to do about it? First we need to ask why it went burst. There are lots of reasons.

• Reliance on Credit or should I say Debt
• The rise of the computer
• The demise of the manufacturing economies in the west
• The rise of the Asian manufacturing economies
• The decadence of our Morals in the West

Just to mention a few.

We will explore all these in the coming weeks, after which I shall hopefully be able to get back to the art of collecting Paper Money.

Paper Money Collecting is Back

Thank you so much for coming back to visit over and over again, even though this blog has been quite quiet during the last month. The terror of silence, no phone line no broadband hit me really bad during the last month but finally despite the credit crunch, bank failings that have befallen our economies in this global mess, a ray of light appears and normalcy is restored once again.

So we now have a new President elected to office in the United States. We do pray that his efforts will yet again bring peace, hope, love and prosperity to the rest of the world and his homeland as well. Without this paper money may suffer greatly in the months to come.

We shall wait and see how all the new changes will pan out.

I will be back on a more frequent basis.

Once again thanks for visiting.