If you don't understand this..

matlockjohn

For many years I have been giving financial talks to a cross section of society.

It never ceases to amaze me how little people really understand about money, its creation and who pulls the strings.

I have found this short film on google video that just about explains the lot.

http://video.google.com/videoplay?docid=-9050474362583451279

In my opinion it should be shown to all school children.

Want to understand the credit crunch in only a few minutes??

Enjoy:)

Peace

Jake'sGran

I am the treasurer of a class of wrinkly keep-fitters and am astonished how little any of them know about every day finances. On the phone the other days a friend mentioned that £60 had been deposited in her account but she didn't know by whom:rolleyes: She uses a credit card but only because her son uses one and, of course, she got the same one as him. She is quite well off but from what I can make out she has no idea that it would be a good idea to pay it off every month.
One man in his 80s approached me about a fund he had bought because he sold his previous house and his bank manager suggested one of the HSBC Unit Trust or OEICs. He wanted to know if it was doing OK. I was quite flattered that someone has told him I was the person to ask. (Hate to think that he may have lost a lot of that capital now). Most of mine have lost most of what they had gained but they are with the better fund managers e.g. Invesco and Perpetual and there is no point in moving them now. A lot of my friends are probably paying tax (or were) on their savings interest but I don't like to think about it. The only place I can think of for spare cash now is with shares that have a decent yield. Companies like Glaxo and Astra Zeneca don't seem to have been as badly hit as others.