Throughout history, reports John Michael Hughes, most civilizations have used gold as a standard for currency and exchange. The implementation of a gold standard, notes John Michael Hughes, has been a major factor in establishing international trade. Our current civilization, says John Michael Hughes, also adopted a widespread gold standard.
The gradual global adoption of a gold standard for currency, notes John Michael Hughes, has since been undone in the 21st century. According to John Michael Hughes, as of the year 2000 no currency printed by any nation is directly convertible to gold. As a result, notes John Michael Hughes, many people who are wary of falling currency values are purchasing gold to secure their assets.
People who buy gold, says John Michael Hughes, want protection against the risk of declines in currency value. Another reason investors are buying gold, adds John Michael Hughes, is to hedge against inflation. John Michael Hughes explains that the changing times have made gold a less secure hedge investment. Because the gold standard has been unilaterally dissolved, says John Michael Hughes, purchasing gold does not protect against fluctuations in the value of currency. John Michael Hughes says that this move has merely made gold another trade-able commodity with no fixed value. Like everything else, says John Michael Hughes, gold is now susceptible to the laws of supply and demand.
John Michael Hughes gives a simple example of gold investment failing to hedge against a drop in the value of the US dollar. John Michael Hughes points out that in 1980, one dollar was worth 200 yen. The price of gold in the same year, says John Michael Hughes, was $400. In 2005, continues John Michael Hughes, the dollar had fallen in strength and was trading for 110 yen. John Michael Hughes points out that gold still cost $400 per ounce in 2005 although both the dollar and the gold lost value to the yen over those years.
About John Michael Hughes
Dedicating a professional career to a single purpose is recognized as admirable in today’s economic environment. For John Michael Hughes it was a focus and interest that began as he exited college. Graduating from the University of South Alabama with a Bachelor of Science degree, John Michael Hughes set his vocational target on the insurance industry early on.
From 1992 until 1995, John Michael Hughes served as an Insurance Adjuster for Pilot Catastrophe Services, Inc. In this position he handled commercial and residential property insurance claims for wind, flood, ice, and earthquake losses. As an early training ground his responsibilities and claim ranges allowed him to develop a strategic understanding of the complexities of insurance claims.
Leveraging this experience in claims, John Michael Hughes has invested the last fourteen years of his professional life in executive management with an all lines public insurance adjusting firm. From 1996 until 2000 John Michael Hughes served as the owner and Chief Executive Officer of JMH and Associates. John Michael Hughes gained further Acts Of God claims experience as well as first hand exposure to the complexities of business ownership. The years of experience tied to natural disasters allowed John Michael Hughes to quantify and qualify claims filed quickly. This skill set was sought after and led to yet another opportunity for John Michael Hughes.
Since 2007, John Michael Hughes has devoted his time and energy to Leeco Consulting Company, LLC, again acting as Chief Executive Officer for the company. With claims services focused mainly in Florida, John Michael Hughes has continued to handle both commercial and residential property claims. His services have also been utilized throughout the Caribbean for both wind and flood losses. John Michael Hughes has further refined his focus and now has a concentration in hurricane claims. With this expansion and professional focus has come larger cases and expanded claims responsibilities. John Michael Hughes currently provides claims settlements that exceed five million dollars.
A natural byproduct of extensive claims settlement work also created opportunities within the area of historical property restoration. With activities generally focused in Alabama, John Michael Hughes acted as a Director for AD, LLC from 1998-2009. John Michael Hughes provided property management and development for this firm. Additionally, from 1996 until 2005 John Michael Hughes managed and consulted on a 26-acre island land development in Florida through Perdido Gardens, LLC. As a partner, John Michael Hughes benefited when the partnership was sold to a public NYSE property development company.
John Michael Hughes continues to blend his knowledge of claims settlements management and restoration complexities in a deep, diversified professional direction that allows him to step outside of most traditional professional vocational paths. It has also allowed him the opportunity to pursue other passions.
John Michael Hughes is currently working toward a Masters in Theology and aspires to complete this training in the fall 2012. John Michael Hughes has reached a point in his life where he will be able to apply decades of experience to a profession and blend this time commitment with a deeper calling that speaks to a different opportunity for his future.
John Michael Hughes has several professional affiliations, including the Florida Association of Public Insurance Adjusters. He continues to participate in industry functions throughout the southeastern United States and is a highly respected veteran within his profession. John Michael Hughes has committed the last eighteen years pursuing a career that combines business, management and involving himself in the lives of people during their most critical times of need.
The need for seasoned claims adjusters has never been greater. The combination of record flooding in areas that traditionally have seen major damage and the increasing seismic activity throughout North America now requires that John Michael Hughes be more mobile. Natural disasters never isolate their occurrences and the demand for claims evaluations can pull many resources together within a very short period of time.
John Michael Hughes also continues his passion for the oceans. From 1989 until 1992 John Michael Hughes was a PADI open water SCUBA instructor. At that time, he organized, taught and led groups on diving excursions and vacations. He continues to have a passion for scuba diving as well as enjoying golf, fishing, kayaking, water-skiing, snow skiing, racquetball, photography, reading and hanging out with his son.
John Michael Hughes currently resides in Florida and can be reached at johnmichaelhughes.com.