What Does a Billion Dollars Mean?

What Does a Billion Dollars Mean...

To YOU?

A few years ago, I asked myself that question and sat down to write about it.

The question requires a look at perspective and value - and when we answer it honestly
it changes the meaning of many things we hear in the media, in the articles about money
and finance and reality itself, in a way.

I've met a couple of billionaires personally and for the most part they are just regular people
who figured out the game and how to attract what they wanted to manifest in their lives.

We have grown so accustomed to hearing about:

• how many billions something will cost
• how many billions have been spent already
  
• billions in deficits
• billions for this and billions for that...

The reality is that a  Billion Dollars is a helluva lot of money, even for a politician...

In a way, the younger generation, that has grown up in a world of technology, has an advantage
in that they can see the abundance of the Internet. They have seen start ups in their lifetimes achieve
financial accomplishments unheard of before recent times.

Older generations value hard work - what it means to work hard for what you want. The younger generation
often wants no part in hard work. They prefer instead that technology do the hard work for them.

What we need is probably a combination of both perspectives - a true Billion Dollar attitude:

"Both using the law of attraction to attract what you want creating sustainable wealth (without limits) - manifesting it using technology - and good old fashioned hard work, all the while loving and enjoying our lives fully."

Mentally trying to understand: what does a billion dollars mean requires a different perspective.

Read the post and see what you think...

Negative assessment of the Fed...

Just scanned an online newsletter a minute ago which was focused on a negative assessment of the Fed.


Got to a quote that I thought was humorous, clever and true all at the same time....

David Stockman, President Reagan’s budget director, quipped to The Fiscal Times that 

“I invest in anything that (Fed Chairman) Bernanke can’t destroy, including gold, canned beans, bottled water and flashlight batteries.”

And here is a tidbit from a Ron Paul blog post on 6/26/09

Here is Bernanke's response during questioning in front of Congress:

When asked by Rep. John Duncan on Thursday about the fact that a majority of Congress is co-sponsoring Ron Paul’s HR 1207 bill to audit the Federal Reserve, Ben Bernanke responded:

Ben Bernanke: “My concern about the legislation is that if the GAO is auditing not only the operational aspects of the programs and the details of the programs but making judgments about our policy decisions would effectively be a takeover of policy by the Congress and a repudiation of theFederal Reserve would be highly destructive to the stability of the financial system, the dollar and our national economic situation.”

I have a question:

What happened to that bill? And what happened to the "audit"? Remember when people across the US were up in arms about the Fed just prior to this?

I personally think that any monetary policy that is outside of Constitutional Authority should always:

1. be challenged and questioned
2. be audited and thoroughly and objectively be scrutinized

And furthermore, if control of the money supply of US citizens is managed by privately held entities that these entities shall be mandated (at all times) provide:

• full disclosure and 
• independently monitored and evaluated internal controls that demonstrate absolute integrity in all aspects of operation
• full access and must be be fully transparent to all operations, procedures and policies
• should only be managed by those financial experts who demonstrate that they fully represent the best interests of US citizens

If the Fed make mistakes with our money, they should be held accountable in open proceedings visible to the public. When the Fed takes actions that do not represent the best interest of US citizens completely (as is common to all obligations of fiduciary duty in professional financial relationships) and create financial damages or hardships they should both be fired and make mandatory restitution.

Personally, I think the Fed should be completely abolished.

And I think that we should hire an independent board of advisors to oversee, plan and establish long term investment planning on a national scale for the sole benefit of US citizens and the US economy. It should be an absolute honor just to serve in this capacity and only those voted to be the brightest and the best by their industry peers shall be nominated for a position.

This board should be compensated very well for their time and expertise by sharing a small, residual percentage of the all the net profits generated for the funds and investment packages they create so there is direct incentive to make the funds and investment systems both as stable and as profitable as possible for the long term.

They should also share in any losses.

Performance and results are the only thing that matter.

These funds should be for the express purposes of benefiting the US citizens, to establish long term economic and financial stability and

SHALL NEVER BE AVAILABLE TO CONGRESS FOR SPENDING. 

In addition to planning, developing and managing private long term investment and retirement type accounts for US citizens. This body should evaluate and make recommendations to Congress about viability, stability, and performance of achieving balanced budgets in real measurable terms of all Congressional budgets and expenditures.

Both a balanced budget and a shrinking deficit should be mandatory of Congress each session until all US Government debt is paid off.

Financial control should be in the hands of - and for the benefit of - US citizens.

Where would we get such leadership?

How about successful entrepreneurs who made their money themselves?

Develop a training and mentoring program to find and mentor the very best candidates in this country by the sharpest and most accomplished financial minds in this country.

Create awards both in terms of recognition and financially for the best performance. Let them be nominated by their peers and establish a criteria that includes diverse feedback and scrutiny.

In 20-30 years, we would again have the strongest and most stable economy in the world again. The dollar would be the most valuable currency in the world and not simply an IOU issued in exchange for government bonds.

Let's get back to basics and make this happen.

The Fed and their buddies and Congress are draining the financial groundwater dry.