Funny money….

Tuesday, 15th October 2019

Funny money….

‘It’s a difficult question to answer but once you add all of my assets up, I’m worth about £1,000,000.’So says Luke Blackburn, aged 23, of East Riding in Yorkshire….

On the face of it, he’s done very well for a lad who dropped out of college with just four GCSEs to his name….

Especially when you consider that he started out building his personal fortune with a small loan of just £1000….

It’s an incredible transition. A cynic might refer to it as unbelievable….

  • It hasn’t gone to his head….

Last week Blackburn was talking to the Daily Mail about his journey to success and financial independence….

The reporter got the impression – from Blackburn – that money doesn’t mean anything to him….

‘I’m a working-class guy from Hull…. I’m a pretty down to earth person….,’ he tells Chantalle Edmunds. Nevertheless, we are treated to many photographs of this down-to-earth hotshot enjoying the many luxurious trappings of his stellar success….

He poses next to an Audi whilst counting a wad of cash…. He poses in a swing-chair wearing a Gucci T-shirt….

We see a huge wad of cash on a granite-topped table…. And then another thick wad (presumably a different wad) on a wooden-topped table, alongside an Audi keyring and a Gucci wallet….

We see Blackburn posing for pictures on one of the many  ‘jet-set’ exotic holidays he takes – complete with ‘name’ shopping bags and bling car….

He tells  the Daily Mail reporter that he owns three buy-to-let residential properties, four luxury watches and that he generously and frequently picks up bills for his parents and other members of his family….

It’s very down-to-earth and classy stuff. You can just imagine how delighted his family will be to find themselves cast as financial dependents in this powerful and gripping tale of one man’s achievements against all the odds….

  • So, how did he do it?

So how did Blackburn amass such a huge amount of cash – and all the properties, vehicles and assorted baubles it buys – so quickly and at such a young age?

Did he inherit? Is he a big-time criminal? Has he got some dirt on someone rich?

Did he invent something really smart that has large-scale application in the real world? Did he set up a business that took off like a rocket?

No. None of these things. Instead, Blackburn reckons he made his money trading foreign currencies in a decentralized global market where all the world’s many currencies trade against one another and where the average daily trading volume amounts to something like US$5 trillion….

It’s called Forex for short. For purposes of simplicity just think of it as foreign exchange currency trading….

Wow! I don’t know about you – but I’m sitting up and really taking notice now….

  • Impressive stuff….

FOREIGN…. Exchange…. Currency ….Trading….

Do me a favour and say those four words out loud (in whatever order you fancy). Do it  slowly and deliberately….

They sound pretty impressive, don’t they? And it sounds like a hell of a way to make plenty of money….

I haven’t been to the proverbial cocktail party in a while. But, imagine being at one of those things and someone asking you what it is you do….

And you come back and say FOREIGN…. Exchange…. Currency ….Trading….

Imagine the buzz! Talk about making a splash….

It’s okay to dream. But getting back to reality, Forex sounds like the kind of deal where you need to know what you are doing….

It sounds serious. This is foreign currency that we’re dealing with, after all.  And we’re not just dealing with it – but trading the stuff….

It sounds like you might need some credentials, some experience, some training, some period of learning, some qualifications….

It sounds like you might need something….

But it turns out we don’t need to worry. None of this boring stuff is relevant or necessary….

  • Just head over to YouTube….

That’s what Luke Blackburn did. Apparently, he learnt to trade Forex just by watching videos on YouTube….

He says this: ‘A few of my friends traded at the time and I thought ‘why not, let’s give it a go’….

And if the 18-year-old version of Luke Blackburn can ‘give it a go’ and proved to be an absolute and instant natural – turning a £1000 loan into £1,000,000+ in cash and assets in 5 short years – then why can’t you? Why can’t I?

What is it that makes Luke Blackburn such a big wheel? What has he got that you haven’t?

He offers up some clues about his pedigree – what made him the man he is today. You might want to take notes….

‘My mum always said, ‘you need to do well’ and definitely instilled a strong work ethic in me….’

‘I never wanted to worry about paying for anything. I saw how much my mum struggled when we were growing up and I knew I didn’t want to do that….’

And he provides would-be traders with this priceless gem from the Zen school of Forex trading….

‘It’s great when things are going well but the crucial thing is how you react when things aren’t going the way you planned. Don’t rush, don’t try and have a specific goal, just let it flow and don’t put stress on yourself, don’t take it too seriously. If it happens, it happens, if it doesn’t it doesn’t.’

  • Where is the rigor?

In truth, that last bit of advice (if it even amounts to that) is probably about as much use to you as a one-legged man at an ass-kicking party….

But Maybe Mr. Blackburn saves the really good stuff for the Forex training and teaching programmes he now provides – programmes apparently so in demand that they rake in £15k to £50k of fees every month….

‘As I was trading people were asking for help and I realized that I could make money that way too….’

The Daily Mail article doesn’t tell you where to go to take advantage of this training. Or how much it costs….

But it does make you wonder who Luke Blackburn’s parents might know at the Daily Mail. At least it makes me wonder….

It isn’t unusual these days for puff-piece marketing copy to masquerade as genuine editorial content. Newspapers die without advertising….

But this piece on Blackburn amounts to a butt-naked advertisement for his apparent expertise and his training programmes.  If you had to pay for such exposure, it wouldn’t come cheap. Believe me….

And where is the editorial rigor? We seem to be expected to swallow this stuff whole. Where is the proof that Luke Blackburn is the trading success that he claims to be?

Cash can be borrowed. Cars can be rented. Pretty much most things can be leased. Shopping bags can be acquired. Instagram followers can be bought and paid for. Pictures can be staged.

Whole lifestyles can be (and frequently are) faked to create an impression that encourages people to part with money so that they can buy the dream and be just like you….

  • Lets’ get cynical….

A cynic might say that’s what is going on in the Daily Mail piece on Blackburn. You can see how the cynic might arrive at that conclusion….

But we’re not cynics here at Money Truths. We just refuse to take things at face value….

Luke Blackburn could well be a Forex genius. We doubt it. But we don’t know. Not for sure. We have never met the man….

We have nothing against him either. And we wish him well – whatever he is or isn’t doing….

But we also encourage you not to be too trusting of such ‘success’ stories. They are often not what they seem. They frequently fail to stand up to proper scrutiny….

And here’s something else to think on….

It is considered common knowledge within serious Forex trading circles that 96% of traders who get into Forex in the hope of making a stack of money fail and lose their stake….

I wonder how many of the 4% that end up on the right side of the ledger learnt how to trade on You Tube?

I would be a short price on not too many….

That’s the truth of it as we see it….

All the best,

Dave Gibson

Money Truths