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The Financial Crisis and What it means for You

By: David Krikorian

You may be wondering what the heck is going on in the financial markets and perhaps more importantly how it may affect you and what you may want to do about it. Major changes are happening from a financial and economic perspective, bigger than anything we’ve experienced in generations.  Many Americans are angry with the situation and very disappointed in our political leaders at the state and federal levels.

The US Dollar has been the worlds’ Reserve Currency since the end of World War II. That means that trade between countries, until recently, was conducted in dollars.  China and Russia have already dropped the greenback for trade between those two countries. For decades oil has been priced in dollars everywhere in the world.  The dollar is a fiat currency, it has no real value other than as a medium of exchange. The Federal Reserve in essence can create as much as it wants out of thin air which makes the ones you have in your pocket worth a whole lot less at the store.

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