THE TRUE COLOUR OF MONEY

The Edgewater Beach Hotel
In 1923, at the Edgewater Beach Hotel in Chicago, eight of the world’s wealthiest financiers met. These eight men controlled more money than the United States’ government at that time.

They included:

•The president of the largest independent steel company;

•The president of the largest gas company;

•The greatest wheat speculator;

•The president of the New York Stock Exchange;

•A member of the President’s cabinet;

•The greatest “bear” on Wall Street;

•The head of the world’s greatest monopoly;

•The president of the Bank of International Settlement.

Certainly, one would have to admit, that a group of the world’s most successful men was gathered in that place; at least, men who had found the secret of “earning money.”

Now let’s see where these men were twenty-five years later:

•The president of the largest independent steel company, Charles Schwab, lived on borrowed money for five years before he died bankrupt.

•The president of North America’s largest gas
company, Howard Hopson, went insane.

•The greatest wheat speculator, Arthur Cutton, died abroad, insolvent.

•The president of the New York Stock Exchange, Richard Whitny, was sent to Sing Sing Penitentiary.

•A member of the President’s cabinet, Albert Fall, was pardoned from prison so he could die at home.

•The greatest “bear” on Wall Street, Jesse Livermore, died a suicide.

•The head of the greatest monopoly, Ivar Krueger, killed himself.

•The president of the Bank of International Settlement, Leon Fraser, also died a suicide.

Each of these men learned well the art of earning money, but it would seem that not one of them had ever learned how to live the “rich life”, which was their birthright. They didn't learn how to be masters of money, rather money became their master and destroyed them.

It is stories like this one that have caused many well meaning, but ignorant people to say, “See, I told you it is not good to have a lot of money, it’s bad,” or, “It just goes to show you that rich people really aren’t happy;” but of course, that is just not true. For although these eight men would appear to have “slid off the track,” there are many wealthy people who are very happy, and who do a tremendous amount of good with their money; they live healthy, well-balanced lives.

Consider this—money will have a greater influence on your life than almost any other commodity you can think of. Indeed, the sudden loss or acquisition of money will affect your attitude to a tremendous extent. Therefore, you must agree that everyone should have a deep understanding of exactly what money is, and of the laws governing its attraction. Yet, the sad fact is that not one person in ten does. Ninety-five people out of a hundred settle for whatever they get, wishing they had more all the way from the cradle to the casket, never understanding that they could actually have had all they wanted.

*Money Is Important

One of the most prevalent misconceptions concerning money, relates to its importance. For example, how many times have you heard people say in conversation, “Money isn’t everything.” or “Money isn’t important.” or “I don’t care about money.” Well, the people who say these things might not care about money, but I’ll bet their car dealer cares about it; their grocer does; and so does the person who pays their salaries. In truth, there can be no denial of the fact that money is important to any person living in a civilized society. Therefore, to argue that it is not as important as this or that, is absurd. For nothing can take the place of money in the arena in which it is used.

*Money Is A Servant

Now that I have affirmed the importance of money, let me backtrack to add this one word of caution— always remember, money is a servant; you are the master. Be very careful not to reverse that equation, because many people of high intelligence have already done so, to their great detriment. Unfortunately, many of these poor souls loved money and used people, which violated one of the most basic laws governing true financial success. You should always love people and use money, rather than the reverse.

Another myth many people like to accept about money is that it only comes as a result of “luck” or “good fortune.” For instance, whenever people gather to talk about someone they know who has been financially successful, there is always someone among them who will say, “Dangote was just lucky,” or “Dangote was just in the right place at the right time.” But I want to assure you in no uncertain terms, that although “luck” obviously plays some part in financial success, it is never sufficient in and of itself.

Money is an effect and it must always be earned. Believe me, there are no free rides in this life and the only people who are making money the
easy way either go for bank robbery or kidnap people for ranson. Therefore, always bear in mind that while “good fortune” is a factor in financial success, it must always be coupled with effort and hard work!

*Money Must Circulate

A third thing you should know about money is that it is valuable only as long as it is being used. Once it has been taken out of circulation, it becomes as worthless as the “old newspapers” or “empty juice cans” that have been stashed away in a storehouse.

Please note that when I suggest that money should be kept in circulation, I do not mean it should be squandered. There is a world of difference between those two concepts and if you haven’t found out what the difference is yet, I would suggest you find out as soon as possible because it will show you the True Colour of Money.

THANK YOU FOR LISTENING!
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