Forex and Preparedness– What’s the Connection?

Joe Gelet contacted me to refer me to an article entitled What Preppers haven’t Prepped for – the big gaping hole, which sets forth the idea that preppers have prepared for many things, but most have overlooked suitable financial preparation.

This affects our day to day lives both now and in the future, whether you’re concerned about your retirement fund or the ever increasing price of a loaf of bread. Joe’s remedy? The info in a book he wrote called Splitting Pennies: Understanding Forex.

What is Forex? And what is the connection to preparedness? We should know something about this if we’re going to understand how the monetary world works so we can best be prepared to live each day or face an economic collapse.

Joe and I talked about these things on this week’s DestinySurvival Radio.

Below I’ll pass along info to help you get acquainted with who Joe is. Then I’ll share observations about his book and our conversation.

Getting to Know Joe Gelet

Once you have a look at the following info, you’ll have to agree it takes such a bright person as Joe to tackle something so complex to the rest of us mere mortals.

“Joseph James Gelet was born in Anaheim, California in 1980 and grew up bi-coastal, in Southern California and Boca Raton, Florida. His interest in computers led him to electronic trading and algorithm development when there was no ‘program trading’ or algorithmic industry to speak of. Joseph Gelet has been trading since 1996. He began day-trading equities during this time and was always on the cutting edge of algorithmic electronic trading.

“In 1999 Mr. Gelet began a quest to develop an intelligent trading system for the markets – but at that time algorithmic trading was heresy. In 2002 Mr. Gelet founded Elite E Services in New Zealand, the first boutique Forex broker in the jurisdiction (currently, New Zealand is a Forex hotspot).

“In 2006 Mr. Gelet became registered with the NFA as a Member CTA (#373609) with a Series 3 designation, Gelet featured in futures magazine through Elite E Services, Inc. USA – and for many years, managed client funds using algorithmic Forex systems. EES was twice named top 10 CTA by Barclay Hedge, as well as receiving press from publishers such as Futures Magazine, Stocks & Commodities magazine, FX Magazine, and many others.

“Mr. Gelet is a well read author, he has authored 2 books on the topic of Forex as well as countless articles both in leading print and online publications.

“Always staying on the cutting edge of algorithmic electronic trading, he recently pioneered the first Binary Options Forex robot available in MT4 format. He also is an expert Forex consultant to Steinmeyer Law, a leading securities class action & anti-trust litigation firm. He holds a Series 3 license (Commodity Trading Advisor), and has developed an in-depth Forex training course which has helped many Wall St. professionals and international investors understand the nuances of Forex.

“Mr. Gelet has been the Forex & IT consultant to many FCMs, FDMs, Banks, Hedge Funds, and Universities. Due to the overwhelming amount of fraud and unscrupulous practices in Forex in the United States, Elite E Services decided to withdraw from the NFA in 2014 in pursuit of opening a Forex bank.

“Joseph Gelet lives in South Carolina with his wife.”

 

Splitting Pennies - Understanding Forex

 

Getting Into the Book

You’ll note from the following summary that this isn’t a book specifically about prepping. It’s a book about finances–an area many of us need help if we’re to be better prepared.

Overview

“What is Splitting Pennies all about?

Splitting Pennies – Understanding Forex is a book about our global financial system and its direct impact on every human being on this planet Earth. Every day, our money is worth less and less. Splitting Pennies explores why, through the prism of its mechanism; Forex. Forex is the largest business in the world and the least understood. This is not taught in school – start your journey, and just read.

Splitting Pennies displays practical examples of how many have profited in Forex, the history of Forex, and practical examples of strategies to use for your portfolio. Readers of the book will know more than a Harvard MBA about Forex, and can consider themselves Sophisticated Forex Investors (SFI).

“Complex topics such as currency swaps are broken down in digestible form, for the average investor or for financial professionals. Splitting Pennies is a must read for those in investment banking, securities, fund management, accounting, banking & finance, and related fields. But it’s written for the layman, the worker, the average investor – the student in us.”

Observations

Parts of this book were smooth sailing as I read, while other parts went right on past me. If you get bogged down in certain parts of the book, like I did, stay with it because it makes for thought provoking reading.

Even if you’re like me and don’t get all that’s in it, you’ll get enough to move your understanding forward on what money is and how markets work. And you’ll get a good picture of Joe’s opinions on the Federal Reserve, banks in general, and the policies of those in power who don’t take kindly to threats to the supremacy of the U.S. dollar.

Like a mystery novel, Joe drops clues throughout the book as to the nature and scope of Forex.

Broadly speaking, if you know a little something about Forex, you’ll know why your dollar buys less and less as time passes. You’ll understand more about what has real value.

You may also be able to determine whether or not you should own silver or gold. And you can figure out for yourself what role bartering should have in your preparedness strategy.

If you have money tied up in investments, you’ll want to pay attention to chapter 7. It’s on investments and finding a good manager. The more you know, the less chance you have of getting scammed.

If you want to get into Forex trading yourself, check out chapter 8, which describes Penny Splitter, a software program useful for Forex investors.

By the way, here’s a bonus Joe offers.

“Every owner of Splitting Pennies is entitled to receive their free unlimited copy of “Penny Splitter Expert Advisor, a fully automated algorithm designed specifically for the foreign exchange market.”

The book winds up with references which include a multitude of Internet links.

Getting Acquainted with Forex

Joe and I had no trouble filling the time allotted to us for DestinySurvival Radio. He’s quite knowledgeable and explains things thoroughly.

When I asked him to define Forex, it might sound at first like he’s going down a rabbit trail. But he’s not. Listen carefully to what he says about the U.S. dollar and foreign exchange money markets, and it will make sense. Throughout his book he layers on finer points describing Forex.

Here’s how massive Forex is.

Forex is the driver of the global economy. It supercedes nation states, politics, even religion. It’s not governed by law, but by trading principles.

Our Federal Reserve plays a large role in Forex, as do other central banks.

In the book he asserts it’s irrelevant as to who owns the Federal Reserve.Things are what they are. We owe it to ourselves to know a little something about how the system works.

It’s startling to think our Federal Reserve can create money from nothing, and we accept it as such. Yet this plays a significant role in inflation, which affects all of us. Joe and I talked about this and explored what it means to have a fiat money system.

Even though the Fed can create money from nothing, it wouldn’t be wise to print ourselves out of debt. Nor would it be a good idea to go into default.

But about that ever present fiat money…

This may sound shocking to some, but Joe asserts in his book that the U.S. dollar isn’t backed by gold but by bombs. You won’t want to miss what he has to say about this during our conversation. If you’ve paid attention to the news for the past 10-15 years, you’ll observe he’s not saying anything we don’t already know.

To me all of this is terrifying. We’re living in a world whose system is based on feathers and fairy tales.

Does that mean the many dire predictions about a sudden economic crash are sure to come to pass?

Not as Joe sees it. Or at least not in the way most sensationalists would have us believe. That’s because there’s no good alternative to the dollar.

What does Joe mean when he says banks can’t do without the economy, but the economy can do without banks? We discussed that. And I think it bodes well for us, should we end up in the midst of the proverbial postapocalyptic scenario one day.

And what about Bitcoin and other alternate currencies? They’ve been touted as revolutionary and independent of the big banking system. But are they? Listen to Joe’s comments and draw your own conclusions.

If you make financial investments, Joe offers what seems to me to be a reasonable solution. But what if you can’t invest?

If you had $1,000 to put toward getting prepared, what should you do? I think you’ll be surprised by Joe’s advice. (Hint: It’s a practical position I have taken for quite some time.)

Joe’s goal is to help you and me be better prepared financially. Thus, his book. You may also want to see SplittingPennies.com.

Going Deeper

As usual, there’s much I’m simply unable to pass along in this post. Be sure to hear my conversation with Joe Gelet by listening to DestinySurvival Radio for October 13, 2016. (Right click to download.)

Then get Splitting Pennies – Understanding Forex wherever you see it’s title linked in this post. Joe’s book is where you should go to get a better grasp on Forex.

Understand our world and be better prepared.

 

Author: John Wesley Smith

John Wesley Smith writes and podcasts from his home in Central Missouri. His goal is to help preppers as he continues along his own preparedness journey.