Real Estate Investment Opportunity

Pre Foreclosure status means the owner of the property has defaulted on his mortgage obligation and the lender is taking steps to foreclose on the loan and take possession of the property. This situation places the property owner and the lender in a disadvantaged position. But it may not be too late for the property owner to work things out with his lender.  At the same time the lender may be interested in allowing a short sale (sale of the property for less than the amount owed) just to avoid the costly process of foreclosure on the loan, and then the expense of marketing the property. That leaves open the opportunity for a real estate investor to come in and solve the problem for both parties.

That’s where I come in.

I’ll be your strategy consultant who helps you [the investor] with your real estate investments planning. As a Real Estate investment consultant, unlike a Real Estate broker or sales agent, I’ll do more in-depth work on formulating your investment strategies, helping you [my client] fulfill your needs and goals.

Real Estate has long been recognized as a valuable addition to the traditional stock and bond portfolio model. Yet most investors struggle to efficiently access the asset class, where finding quality investment opportunities requires relationships and local expertise. That’s where I come in.

Investments and asset allocation. Where to Invest?

Bitcoin has a lingering problem

Bitcoin has a lingering problem that few people are talking about amid the renewed exuberance of the recent price surge.

Hardly anyone is using the world’s largest cryptocurrency for anything beyond speculation. Data from New York-based blockchain researcher Chainalysis Inc. show that only 1.3% of economic transactions came from merchants in the first four months of 2019, little changed over the boom and bust cycles of the prior two years.

Even though marque companies such as AT&T Inc. now let customers pay with cryptocurrencies, the problem is that few speculators want to use the digital coins to pay for wireless services when the digital asset’s price might surge another 50% in a matter of weeks. That’s become the main dilemma with the cryptocurrency: Bitcoin needs the hype to attract mass appeal to be considered a viable electronic alternative to money but it has developed a culture of “hodlers” who advocate accumulation rather than spending. Full Article Bloomberg

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GOLD STANDARD AS THE FIRST FINANCIAL CENTER OF DIGITAL ECONOMY 

Gold Standard Bank has become the most significant global multinational holding company in financial sector that has been setting new trends in the blockchain sector development. Its rapid growth is based on the understanding that the world of the future will draw on technology and gold. Over the past few years, it has become the largest venture, which has implemented a numberof successful innovative blockchain projects related to introduction and development of gold exchange transactions.

First-Time Real Estate Investors

Real estate can be a tremendous investment opportunity. And for those who are in for the long run, rental properties really can’t be beat.  But when it comes to taking that crucial first step, most people aren’t sure where to start. If you are thinking about investing in real estate, here are 10 considerations to help you to get off to a great start.

1.Get Your Finances In Order

Before you take the plunge, take stock of your financial situation. Is there anything that you can do to put yourself in a stronger position to invest? Things such as paying down or consolidating debt, along with working on improving your credit score, can help you to qualify for a better loan. You’ll also want to save up for a down payment. A larger down payment is ideal for reducing your monthly payments, your insurance and even your risk.

2. Do Your Research

Next, you’ll want to learn as much as you can about real estate investing and rental property management. Brush up on the basics of landlording, and get some good books that offer sound investment advice. There is a lot more involved with becoming a landlord than meets the eye, and being prepared will help you sidestep many common pitfalls along the way.

3. Start Small

While you may feel pressured into “going big” when it comes to your first investment, there’s nothing wrong with starting small. In fact, it’s how many successful investors get started. Starting small offers a number of benefits; namely, it’ll give you a chance to gain an understanding of how investing works before there’s a lot more at stake.

4. Know The Numbers  

Before you commit to a property, it’s important to know exactly what type of returns you’re looking for. Start by establishing your investing criteria, and resolve to only invest in properties that meet your standards. So be sure to have an idea about cap rate and cash-on-cash returns, along with net yield and cash flow.

5. Scout Out A Location

As a new or first-time investor, you might be looking at property that’s close to home. However, be careful that you’re not limiting yourself. When you open yourself to the possibility of an investment property outside your local area, you’ll be able to take advantage of up-and-coming markets that may have better opportunities. With the property management options and resources available today, investing in out-of-town property is easier than ever.

6. Adopt A Business-Owner Mindset

Investing is a business, and you should treat it like one. Just as you’d have a solid business plan in place for a company, along with clear and actionable plans, key milestones and systems, you’ll want to do the same for your investments. Remember: Your goal is to generate a profit, so make sure you lay the groundwork necessary to do so. Don’t simply invest in the first property that catches your eye. Just as you would in a business, make sure every opportunity checks out. __Full Article Forbes

If you interested to buy your first real estate investment

I have access to Bank Owned, Probate, Tax Liens,Trustee Sales (Court Auction cash only), and even Vacant Properties on any Estate and any County.

My roll will be your Strategy Consultant and find the best piece of Real Estate Investment for you. If you need subcontractor, repair and resell your Real Estate, I have the best price on the market. Even if you need finance to buy your first Investment, I have motivated private investors and banks who want to help you in your entrepreneur include Contractors Financing

https://patrickiturra.com/contact/

Company To Link Gold Trade Payment Methods With Cryptocurrency Techniques

KaratBank is creating a new Blockchain-based cryptocurrency based on the ancient legacy of gold. Whilst not readily used in trading today, gold has traditionally been viewed as a safe and secure investment. Combining this historical method with the most modern, cryptocurrency, may not seem like a likely partnership. However, a new company is doing just that.

KaratBank claim that they take the advantages of gold trading and apply it to cryptocurrency. They highlight that gold is a trusted means of investment worldwide, is limited in quantity (which can push up value) and is also stable in price. By linking each of their KaratBank Coins (KBC) to a physical weight of deposited gold (in the form of CashGold – 24 carat gold embedded on a bank note), each token has a stable, trusted value. KaratBank Coins are based on the Ethereum Blockchain protocol allowing for use of smart contracts. The team describe the coins as ‘the foundation of a strategy to promote the development, infrastructure and distribution of a safer, more trustworthy payment means.’ KBC is linked to KaratPay, an online payment platform.

Their whitepaper describes KaratBank’s end goal as ‘The KaratBank Coin is designed to be used as a generally accepted electronic payment means for all who consider gold as a traditional, true, secure and value-stable medium.’ There are many advantages to KBC listed: its links to reliable 24 carat gold prices; the ability to exchange for CashGold at any time; real-time exchanges from any location at any time; the ability to use other popular crypto such as Bitcoin to purchase KBC; free and borderless transfers; and the low service charges for using KaratBank. These advantages have not gone unnoticed, as KBC payments steadily become more and more accepted around the world for transactions.

Reassuringly, KaratBank are in cooperation with Karatbars GmbH, (who already have an established community of nearly 500,000 users worldwide who have collectively invested $120 mln), meaning that the growing number of companies worldwide accepting Karatbars as payment will also do so with KaratBank Coin.

The pre-ICO has already begun and will continue until March 21, with the main ICO beginning March 22 (1 KBC = $0.05). By April 18, the team aim to have KaratBank Coin listed on one major exchange. By 2020, they hope to have 2 percent market penetration, and market capitalisation at $500 mln.

For a start, KaratBank CEO Harald Seiz has forty years of experience in financial consultancy. He is also founder and managing director of Karatbars International GmbH, bringing his extensive knowledge of the relationship between gold and cryptocurrencies to KaratBank. His expertise has been recognised by the Federal Association for Economic Development and Foreign Trade, who have awarded him a Senatorial Degree. The rest of the management team also have extensive management credentials from various financial companies across Germany, and the advisory staff boast experience from Karatbar operations in Dubai to the UK.

The knowledgeable team and proven success record with Karatbars indicates an exciting time for this company, and possibly a revolutionary new way of currency investment by marrying traditional investment methods with new innovations.

For more information click HERE

Source: CointelegraphKaratbanks

Gold: Why Doesn’t Your Financial Advisor Recommend It?

When it comes to your investments, diversification hasn’t worked. The “Buy and hold” strategy has become “buy and hope.” The one asset that could have helped stabilize your portfolio isn’t ever recommended by CNBC or your financial advisor. That asset is gold.

One cannot rely on CNBC or conventional financial media advice as they are misinformed.

Continually CNBC bashes gold as gold is the enemy in their book. They’d rather you put your trust in assets that don’t counteract the fall of the U.S. dollar. How has that worked for investors the last 10 years? Not well.

It’s not your fault you’ve lost money on your investments but you’re not being told the whole truth about investing to begin with and things unfortunately are worse than you may think.

We have experienced in 2008 and 2009 a horrendous Global stock market downward spiral and the U.S. stock market hadn’t seen this type of decline since the great depression. While nothing goes straight down, and bounces like we’re experiencing now will and do occur, those bounces will only be followed by further declines for the time being.

Governments have made it so we don’t know much about investing in gold.

The U.S. Government hides from us how much gold is stored in Fort Knox and won’t even let us audit it. Why the secrecy?  Every Central Bank in the world owns gold, so you’d think governments would advertise this fact so their citizens would have a stronger belief that their paper currency has some sort of gold backing, especially with the recent rise in the price of gold.

Gold used to back our currency, but for the last 38 years it has not. What really backs our currency? The answer is the full faith and debt of the U.S. government. The dollar has lost 81% of its purchasing power in those 38 years. What cost $1 in 1971 costs $5.31 today for that same item.

Gold used to be the money of our forefathers. Today, if they were alive, they’d demand their portraits be removed from the currency as it does not subscribe to the definition of money they laid out in the Constitution.

Ignorance of how gold fits into ones understanding of money or even how to include gold as part of a diversified portfolio is not your fault either. It’s one of the dirty secrets you’re better off not knowing about. That is, unless you want to protect your wealth from confiscation through the coming tsunami of inflation.

The hottest market in the last 10 years and your financial advisor had the opportunity to put you into gold but they didn’t do it. 

You see, financial advisor’s aren’t taught anything about gold as a viable investment except that it is a commodity and sits atop the pyramid of investments at the highest risk level while the U.S. Dollar sits at the bottom “safe” level.  Hmmm, hasn’t the dollar lost about 25% in value the last five years?

Many financial advisers are really clueless about gold because even their Certified Financial Planner (CFP) textbooks don’t explain gold well.  I bought and paid for the entire CFP course and received all the books in advance.  The book for the investment class, “Investments: An Introduction”  Seventh Edition by Herbert B. Mayo (Custom Edition: College for Financial Planning), had six pages devoted to gold, almost all of which bashed gold as an investment relating it to” jewelry” and “numismatic coins.”  The book called buyers of gold, “collectors” and didn’t even mention U.S. Gold Eagle coins or the U.S. Mint.

So the next time you see your financial adviser (CPA, Insurance Agent, Psychic or whomever is advising you on where to invest), show them the table below and ask them why they didn’t have you diversified into gold the last 5-10 years and why they aren’t recommending you insure the continuous decline of the U.S. dollar with an investment in gold today.

And remember one important fact; if your portfolio goes up 10% and the U.S. dollar falls 10%, you haven’t gained any true wealth. 

Diversification into gold can help counteract the decline in the U.S. dollar and maintain your wealth. 

In a future article I will be discussing more reasons to diversify into gold.

Ask for more information BUY GOLD TODAY  

YEAR END PRICE OF GOLD
2000 $273.60
2001 $279.00
2002 $348.20
2003 $416.10
2004 $438.40
2005 $518.90
2006 $638.00
2007 $838.00
2008 $885.50
2009 $1,992.00

Contact me Here to open a free Gold account

Why I Hope Donald Trump Paid $0 in Taxes

Written by Robert Kiyosaki | Tuesday, August 16, 2016

And Why Hillary Clinton is Wrong To Attack Him On It

You can tell that the presidential race is heating up because the attack ads are heating up too. In the past, much of political advertising happened on the television. If you didn’t like it, you could change the channel. This election involves social media more than any other I can remember.

Last week, Hillary Clinton, the Democratic nominee for president, sent this out on her Twitter account:

patrickiturra.com
Twitter

Usually, the candidates choose to release their tax returns if they are running for president. Donald Trump has elected, so far, not to do this.

Last week, Hillary and Bill released their 2015 tax return to the public. This was most likely the reason they are attacking Trump on his tax returns. As The New York Times reports, Hillary and Bill paid “$3.6 million in federal taxes for an effective tax rate of about 35 percent.” Most of this income came from speeches and Hillary’s memoir.

I find it interesting that Hillary would choose to attack Donald Trump for not paying anything in taxes and celebrate that she paid so much in taxes. This to me shows that Hillary is a career politician, while Donald is a career entrepreneur. It also shows me that Donald is doing what the tax code was intended for while Hillary and Bill are being penalized for not doing what the tax code was intended for.

As I’ve learned from my Rich Dad tax advisor, Tom Wheelwright, the most patriotic thing you can do is not pay your taxes!

Let me explain.

The Tax Code is Made to Incentivize

As you probably know, the tax codes in the US and in many different countries are long and complicated. The question is, why?

The reason is that government leaders learned a long time ago that the tax codes could be used to make people and businesses do what they want by utilizing the tax code.

In short, the many credits and breaks that are found in the tax code are there precisely because the government wants you to take advantage of them. For instance, the government wants cheap housing. Because of this, there are many tax credits for affordable housing that developers and investors can take advantage of that minimize their tax liability, put more money in their pocket, and in turn, create affordable housing. Everyone wins.

There are many scenarios like this in the tax code that incentivize investors and entrepreneurs to do activities the government is looking for while rewarding those who take those actions with lower-or zero-tax burden.

Because of this, limiting your tax liability actually means you’re doing what the government wants you to do through the tax code. And that is the most patriotic thing you can do.

Why Hillary is wrong

This is why it is insanity for Hillary to criticize Donald for not paying taxes. The only way in which he would not pay taxes would be by doing things like investing and creating jobs to receive tax benefits created by the government! Conversely, the fact that Hillary and Bill paid a 35% tax rate and millions in taxes shows they are not doing what the government wants. They are not providing jobs, starting businesses, or investing in a meaningful way.

Personally, I’d rather have someone who understands how money and taxes work, how to create jobs and invest in ways our own tax code incentivizes, than one who doesn’t. This is not an endorsement of either candidate, but it is a true observation regarding this one issue.

Hillary’s tweet is capitalizing on the general ignorance around money and taxes that much of our country has. In that way, it is actually a lie and a form of fear mongering. It is an attack without legs to stand on, preying on emotions rather than appealing to logic and intellect.

But that’s what most of our politics has devolved to these days, so I’m not surprised.

Want to know more? Read Tom’s book on taxes

During the election season, you’ll hear lots of things that sound right, but fall apart upon further analysis. That’s why it pays to do your own homework, especially when it comes to money and taxes.

And that’s why you should read Tom Wheelwright’s book, Tax-Free Wealth.

Tom is a genius when it comes to taxes, and I encourage you to read his book- and to begin looking at how you can be patriotic by not paying your taxes by investing and building businesses that the government rewards with tax breaks and credits for doing exactly what they want.

Also, for more information on using the tax code to get rich, take advantage of our Rich Dad education and coaching classes that will help increase your financial education and your wallet, while decreasing your tax bill.

More to protect your money: Do You Need Insurance Against the U.S Dollar?

Written by Robert Kiyosaki | Tuesday, August 16, 2016

KaratPAY

KaratPAY a new global payment.

KaratPat_n

Soon all around the globe people will have the opportunity for the first time to control the inflation on their own economy and their own currency devaluation.

Do you Imagine maintaining the same purchasing power in the years to come? Continuing with your same life, and at the meantime others have to work more and pay more for their products? All this happens for the actual currency devaluation, every day our necessities are more expensive. Stop demanding for better salaries, take action with KaratPAY you’ll be in control and become more financial independent.

Learn more at Karatbars The Global Currency

U.S. economy and Brexit

The United Kingdom shocked the world when its citizens voted to leave the European Union Thursday.

The so-called Brexit has wide implications for the U.S. economy, which is already facing a slew of headwinds.

brexit_www.patrickiturra.com

The chief of the U.S. central bank and top monetary policy setting official, Janet Yellen, forewarned earlier this week that Brexit “would negatively affect financial conditions and the U.S. economy.”

Trade between the two nations only makes up 0.5% of U.S. economic activity. However, the connections go well beyond direct trade between the two global powers.

The effect on America can come through a number of chain reactions — a Brexit domino effect on the global economy. Here are four ways the wake of Brexit could hurt the U.S. economy.

 

1. Fears that the EU may be falling apart

One of the key global concerns rattling the markets is that Britain could be just the first of more EU countries to leave the union. On Friday, French right-wing leader Maine Le Pen called for France’s own referendum vote. Concerns have been raised about referendums from Italy and the Netherlands too.

The European Union is one of the world’s largest trading blocs and it’s a major trade partner with China and the United States. If it breaks, it could lead to a lot of global uncertainty and many trade deals would need to be restructured.

Some experts caution that fears of the EU falling apart are overblown. After all, the UK always used the pound as its currency. Other countries like France would have to ditch the euro and reintroduce their old currency. That’s a much more difficult transition than what the UK must navigate now.

Plus the high expectation of a looming recession in the UK may give other countries pause, especially if they see an economic storm that Britain may endure after Brexit.

Still, the fear of the EU’s opaque path ahead is real.

“We also need to acknowledge we are faced with lots of doubts about the direction of Europe … not just in the U.K. but in other countries as well,” German Chancellor Angela Merkel told reporters.

2. Volatile markets slow down the engine of U.S. growth

American consumers make up the majority of U.S. economic activity. If they don’t spend, the economy doesn’t grow. And how much they spend often depends on how they feel good about where the country is heading. Americans don’t buy homes and cars if things look bleak and a stock market downturn can really whittle down confidence.

Brexit is already causing severe volatility in global stock markets. If that volatility continues for weeks and months, it could cause American business owners and consumers to reconsider their spending plans.

“The keys to whether the U.S. economy is affected significantly will be whether equities tumble enough to have a major impact on business and consumer confidence,” says Jim O’Sullivan, chief U.S. economist at High Frequency Economics, a research firm.

A cutback by consumers would be particularly bad news at the moment.

U.S. job gains have slowed this spring and economic growth was sluggish in the winter. But a recent pickup in consumer spending has been one of the few bright spots. The added momentum in spending had raised hopes that growth would rise in spring and summer.

eu_uk_usa_flags

3. Brexit triggers a strong dollar, which hurts U.S. trade

A strong dollar sounds good — and it is for American travelers — but it’s bad for U.S. businesses that sell products overseas.

On Friday morning, the U.S. dollar quickly rallied against the British pound, up 6.3% Friday, its biggest one-day gain since 1967, according to FactSet, a financial data firm.

A strong dollar makes company’s products more expensive — and less attractive — to buyers outside the U.S. That hurts sales for tech giants like Apple (AAPLTech30), equipment makers like Deere (DE) and Caterpillar (CAT) and global brands like Coca-Cola (KO) and Nike (NKE).

It’s one of the key reasons why Corporate America has been in an “earnings recession,” with profits declining for three straight quarter on an annual basis.

“The biggest impact economically is the dollar impact,” says Matt Lloyd, chief investment strategist at Advisors Asset Management. “If the dollar surges on [Brexit] for any period of time, then you’re going to see fears of the profits recession lasting longer.”

In short, a stronger dollar typically lowers U.S. exports — a theme we saw last year. The U.S. manufacturing sector, which relies heavily on trade, fell into a 5-month recession triggered by the strong dollar. Manufacturing lost a net 39,000 jobs in the past 12 months.

So if the dollar continues its post-Brexit gains, it would spell bad news for U.S. trade and manufacturing, which is just digging out of its hole from last year.

A stronger dollar could make imported items cheaper for U.S. consumers, which could offset consumer fears about volatile global markets. But at this point, fears of a stronger dollar appear to be outweighing positives of it.

4. Brexit forces the Fed to rewrite its rate hike playbook 

In December, the Federal Reserve projected that it would raise rates four times this year — a strong sign that the U.S. economy has recovered from the Great Recession. Higher interest rates benefit savers, who can make more money on deposits.

But by June, several Fed committee members were only calling for one rate hike in the wake of weak growth and slowing job gains.

If the volatility in markets from Brexit continues, and if U.S. consumers pare back spending, and employers slow down hiring even more, the Fed could be looking at zero rate hikes in 2016. In fact, markets are starting to increase their expectations for a rate cut this year.

It’s not how the Federal Reserve had planned the year to unfold. U.S. central bank officials had started the year with high expectations after raising rates in December for the first time in nearly a decade, also known as “liftoff.”

But instead, the Fed is coming back down to earth. Other central banks around the world have lowered rates into negative territory and the conversation has shifted to whether the Fed should consider that move too.

“For the Federal Reserve, a Brexit vote would make it more difficult to raise interest rates,” says PNC senior international economist Bill Adams.

More at Do You Need Insurance Against the U.S. Dollar? 

By Patrick Gillespie  and  Mark Thompson contributed to this story

Do you need Insurance against the U.S. Dollar?

The world’s financial landscape is changing…
And it could soon cause a lot of money to move out of the U.S. dollar.
So how do you protect yourself? By following China’s lead.
Let me explain…
On Monday, the International Monetary Fund (“IMF”) announced that China’s currency – the yuan – will join its reserve currency basket.
This basket includes the currencies of the world’s financial superpowers – the U.S. dollar, Japanese yen, British pound, and the euro.
The yuan being added to this basket will give China a new global status. And  Steve Sjuggerud says it will cause hundreds of billions of dollars to move into the yuan… and potentially out of the U.S. dollar. Here’s what he wrote in a May DailyWealth essay:
Billions of dollars will move into [the yuan] when it achieves reserve currency status. The likely loser in this will be the U.S. dollar – as governments diversify a percentage of their currency reserves out of the dollar and into this currency.
You see, the U.S. is facing an enormous $59 trillion debt problem. The only way for the U.S. government to pay its incredible debt is to print more and more dollars… and debase an already devalued currency. (Every time the Fed prints a new dollar, the value of every dollar in circulation declines just a little bit.) This doesn’t make the dollar all that appealing to investors.
Printing-money
But soon, investors will have a new, more appealing reserve currency to invest in. China is the world’s second-largest economy. In a few years it could be the world’s largest economy. And China has a huge hoard of gold. From January to September, the country added around 1,171 metric tons of gold to its hoard. That’s more than the Swiss government has in its vaults. And in October, China bought another 14 metric tons of gold. China has spent about $70 million buying gold over the past two years.
While it’s probably impossible for China to have a completely “gold-backed” currency, this gold allows the yuan to offer a guarantee more substantial than the dollar, which is only backed by the “full faith and credit of the U.S. government.”
That’s why investors are soon likely to diversify out of the dollar and into the yuan.
So how do you protect yourself from a decline in the U.S. dollar? Follow China’s lead and buy gold…
China-Gold
In November,  China has secretly been buying massive amounts of gold as insurance against the U.S. dollar.
In short, thanks to its exports, China’s foreign-currency reserves have swollen from $2.5 billion in 1980 to $3.7 trillion today… So China has had to figure out what to do with all that cash.
Initially, China bought U.S. government bonds. It holds $1.3 trillion in U.S. bonds… the most U.S. debt in the world. But with a dollar crisis likely on the way, China faces a huge problem…
So it has been “safeguarding” the value of its currency reserves. That means one thing… buying gold. Because gold is a real store of value, the price of gold goes up if something bad happens to the U.S. stock market or dollar.
I recommend safeguarding your own wealth against the dollar by buying and holding gold bullion. And with the price of gold down more than 40% since its 2011 peak, there hasn’t been a better time to buy in the past five years.
Take a page from China’s playbook… stock up on some gold bullion. It’s a smart insurance policy as the world’s financial landscape changes.
If paper currencies like the U.S. dollar collapse, gold will still hold value. That’s why Doug Casey, one of the world’s top experts on gold and resource investing, views gold as “cash in its most basic form.” 
Contact me HERE if you need more information about my gold free program strategy

France steps up monitoring of cash

The French Finance Minister Michel Sapin, has announced a drastic tightening of the use of cash in France. As the newspaper Le Parisien reported, citizens will be strictly monitored beginning September 2015 if they make payments in cash. Restrictions will include:

Michel Sapin-

  • A limit on cash payments will be reduced from 3,000 euros to 1,000 euros.
  • Tourists can only pay up to 10,000 euros in cash, so far there were 15,000 euros.
  • If a Frenchman wants to change money into another currency, it must still do to 1,000 euros without identification only. So far,
  • French could buy foreign currencies for 8,000 euros.
  • If a bank customer stands out more than 10,000 euros a month from his account, the bank must report the transaction to the
  • Money Laundering Authority TRACFIN.
  • Banks must inform the authorities of all cargo transfers within the EU that exceeds 10,000 euros. This regulation impacts
  • checks, pre-paid cards, and even gold.
    The control of crypto-currencies like Bitcoin are set to be tightened drastically.

My question for you: how will your country, if they did the same as France (even the United States), react? How will it affect your money? What will happen with your purchasing power? 

Learn more: The greatest wealth transfer

Source: Router