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The Currency Korner        
By -The FX Specialist-
Philip J. Magnoli

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FX Specialist Insight
-brought to you by Philip J. Magnoli
 An expression of thought; May 18, 2022
——–The Currency Korner——–

The Way I See Things

Volume 5 Issue 2

“Autonomy is different from independence. It means acting with choice.” 
– Daniel Pink

 

 
Good morning,

The spring has sprung and with it the responsibility to prepare the flower beds and gardens for planting. In the last few years, more of the responsibilities have been cast upon my shoulders to prepare not only my home but my parent’s gardens as well, simply because my Dad just isn’t physically capable as he once was.  I am not complaining, it’s just the work is demanding and even though I am in great shape I find myself needing to take late afternoon naps to recharge my body.

This past Monday I set the alarm from 6 pm for an hour power nap as I had an appointment at 8 pm.  When I woke up, it was 11 pm. I didn’t hear the alarm or my daughter’s phone call. When I approached both my daughters to ask, hey girls, did you hear my alarm? They both answered no but when you called and I didn’t answer, weren’t you curious to see if there was something wrong with me? I could have been dead in my bed yet neither of you bothered to walk up one flight of stairs to check up on me?

Their response, we knew you were exhausted so we just decided to let you sleep because you needed it. After all, you aren’t dead, you are here asking us both if we heard the alarm? I can’t win for trying while they always have an appropriate answer for every question I ask.  I am grateful to at least be able to make decisions for the betterment of myself.

In our world, every nation has the right to print its’ own currency. If you think about it, we wake up every day with a mission to earn money to pay for our existence. The amount one earns determines the quality of life a person or family maintains. I remember as a child, I would wake up at 5 am to see my Father at the kitchen table having his espresso before he left for work. He would say to me, son when I get up in the morning and turn on the light, I need to earn $10 to start the day to pay for the electricity and everything else.  That statement was made in 1970 and has resonated with me ever since. This week Canadian Annual CPI data shows an increase of 6.8% vs expected (6.7%) in April. Expect interest rates to be hiked aggressively once again in June as the cost of living soars.  The chance of people handing over the keys of their homes will increase exponentially. It makes the statement, “you will own nothing and be happy”, a somewhat chilling prophecy for some. 

Our economic system has evolved over time. From hunting and gathering when people lived in tribes, to concentrating large populations in urban areas. Once the food supplies became consistent,  cities began to flourish, bringing skillsets within. The Industrial Revolution created specialization and a wage was paid for the skill to enhance the means of production. The barter system was more or less done away with as the ability to earn money became the newly established means for commerce. This allowed the autonomy in decision-making for an individual to choose how to spend the money earned in a manner that they saw fit. Yet today the value of money is eroding quickly. People work more for less purchasing power. Has life become solely about survival, paying bills to maintain a standard of living especially in a big city.

Money, backed by governments created independence as economies evolved and people acquired assets for a price based on market forces of supply and demand. Sectors of specialization formed like agriculture, mining, technology and real estate to name a few. As my grandfather once said, “ People multiply, land doesn’t”. In most of the developed world, real estate has enhanced the wealth of many. It has been ownership of property that has also allowed for the refinancing of accumulated debt to be absorbed yet what happens when the collateral used to substantiate the loan, devalues?

Is a recession looming? Today in the USA,  Philly Mfg Index came in at 2.6 expected (16) in May. Jobless Claims rose to 218k expected (200k). Housing Starts down 0.2% and Building Permits were down 3.2% in May. While the USD Index slides below the 103.0 level for the first time in weeks.

Today there are 7.8 Billion people in the world. The world has become smaller with technological advancements. Amazingly, travel times have diminished from weeks to hours or less than a day. As a result, globalization has allowed corporations to take advantage of labour forces and less government intervention in the exchange of money. Consequently, a few people make decisions for the masses and most of the time these decisions are swayed by corruption and personal financial interests.

Speaking of autonomy, The United Nations is meeting from May 22- to May 28, 2022, in Geneva, Switzerland to supposedly anoint the World Health Organization (W.H.O.) with absolute authority over measures in handling future Pandemics. This Power will supersede a nation’s laws and they can impose any medical course of action they deem necessary. There will be no referendum only a vote made on behalf of Billions by representatives from 194 nations including Canada and the U.S.A. People need to rise and be vocal otherwise what is happening in Shanghai, China could be coming to a neighbourhood near you. Will this be the framework in which a One World Government and New World Order will be ushered in? Even money will transform into a digitized format placing the control in the hands of a few who may decide if you are worthy of participating in society. There are so many distractions occurring in the world today that major decisions are being imposed with stealth precision to the dismay of the masses.

Meanwhile, the price of Oil a necessity in the world continues to be manipulated. Presently it is around the $108/B vicinity after dipping to $103/B from $115/B. A short few years ago we saw negative Oil prices as the Green Revolution was to transform our economies. Nothing of the sort has materialized except financial pain, increased and unmanageable deficits and irresponsible governing bringing economies to the brink of financial collapse. You may think this is insane but the reality is that numbers never lie and you cannot keep printing money without major consequences. Precious Metals recoup substantially toward the USD$1850/oz level and Silver tested the USD$22/oz once again.  Fellow North Americans have a great long weekend and consider buying pets in shelters cans of food by limiting the number of fireworks you may purchase. Money gives us power and the freedom we choose.  The choice is ours until it is taken away.

Pass it on as I am always available to provide the most advanced foreign exchange services and knowledge, efficiency, expertise and above all integrity. Referrals are welcomed and very much appreciated.
… Don’t Forgetta bout Me!!!!
.The Don of a New Day!

Foreign Exchange Service is my Specialty.
Direct# 416-992-7765

Contact Me Direct via email at phil@aloris.ca

Don’t Forgettaa bout Me!!!!

Sincerely,
Philip Magnoli – The FX Specialist-

Direct:     416-992-7765 
Email:    phil@aloris.ca          

Opinions expressed within are that of the author alone and do not reflect in any, way, shape or form, any Company I choose to associate myself with. This is the intellectual property of Magnoli Financial Services Corp. www.donfilippo.ca 

 

 
 
 

 
 
 

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