“Most Of What You Have Will Be Wiped Out In the Coming Currency Collapse — Unless You’re Ready For It”
Hits you right between the eyes, doesn’t it?
It seems like every few years, an economist comes out with a book predicting
the mother of all depressions.
When nothing remotely close to the dark scenario happens — and often just
the opposite — the mere mention of the author’s name triggers a laugh track.
And like the boy who cried Y2K wolf, his credibility is permanently maimed.
Maybe there’s something to it this time.
Though the ad above was written in 1980, it paints a fundamentally accurate
picture of the economic mess in the United States in 2007.
Our currency is at a 15 year low against a basket of six currencies.
- $2.04 to buy a British pound. Two star London hotel bills now strike
terror in most American travelers’ hearts.
- $1.42 to buy a Eurodollar. You could buy a Euro for 89 cents in 2000.
- And the capper…the Canadian dollar is now worth more than our
greenback. Something not seen for over 30 years.
Yes, the Dow is at an all time high thanks largely to the recent (and
reckless) interest rate cut but it wouldn’t take much to unhinge the U.S
- $100 per barrel oil. (Not out of the question.)
- A freeze up of consumer spending over the Holidays
- Countries with exchange rates fixed to the US dollar switching to the
- Ditto for OPEC
- A fresh and larger wave of mortgage defaults
Hopefully, we won’t be selling special reports on “How to Start
Your Own Street Corner Apple Selling Empire.” But if a 2 billion pound run by
panicked depositors can happen at a British bank in the same month as America’s
largest mortgage lender was inches away from going under, then anything is
How marketers can profit from the U.S. Currency Collapse
For marketers in the United States.
Raise your prices.
When could be a better time? The products we keep selling at the same price
point in U.S dollars have gotten a heck of a lot cheaper in pounds, Euros and
Canadian dollars. Sure, these products are paper and ink or bits and bytes with
far higher margins than leather handbags. But nine out of ten marketers pay
almost no attention to pricing strategies even in tranquil economic cycles.
Online, pay-per-click advertising makes it ridiculously easy to price test.
You can set up an ad to run in the UK only and split the traffic between two
pages with different prices. Since the pound is worth so much more than our
dollar, there is a lot of leeway for testing.
American marketers need to understand that a $500 dollar sale of an
information product only amounts to a few rounds at the pub with some friends.
It’s just a couple of quid.
More importantly, marketers need to get over the anxiety of a customer
flagging them for buying a product at a higher price and then seeing the same
product at a lower price. In the rare event when this does come up, the remedy
is simple: explain that you are price testing, refund the difference and add a
premium or bonus to keep them content.
By not price testing, you’re flying blind.
Add more products to your product line.
There’s never been a better time to be an entrepreneur.
When mass layoffs and downsizing are shackling the wallets of everyone
around, an innovative info marketer can always count on waking up to new orders
from Sydney, Singapore and Stockholm.
More products equal more revenue.
For marketers outside the United States
Look for unexploited opportunities.
If you can identify successful US products with static pricing, instead of
becoming an affiliate, buy a lot of ten or twenty units at a steeply reduced
price. This takes the sting off shipping and boosts your margin. You’ve now
greased the slide for customers in your home country since shipping is domestic
and drastically lower.
Set up some AdWords campaigns to run exclusively in your country and bump up
the product price. The weak dollar now becomes your ally and you may realize
profits of 50% or more beyond your investment.
Several years ago, I took my last thousand dollars and did exactly this (with
a British publisher)…getting a 500% return in sixty days.