Mr. Willie provides an excellent summary of all you need to know about the financial chaos going on in our country. If you watch the evening news or read the newspaper on a regular basis, this is likely to be news to you (and real news at that). Stay informed. I encourage you to read alternative sources of news such as:
If you think your bank is safe, think again.
Mr. Willie says that $7 trillion is sitting in FDIC insured bank accounts. If the government actually had that money, don't you think they would have found a way to spend it and replace it with IOUs by now?
The safest place you can have your cash is in a mutual whole life insurance policy. The money is backed by capital reserves that exceed the life insurance company's liabilities. In other words, these institutions are solvent! They are regulated to be this way.
Banks operate under the fractional reserve system meaning they keep a fraction of your deposit, lend the rest, and then inflate the money system by creating up to 10x the amount of your deposit in new money to lend out. In short, banks are highly leveraged and the main culprit in creating that nasty destroyer of wealth: inflation.
What about FDIC insurance? The FDIC inspires confidence. Just like Bernie Madoff did... and just like Bernie Madoff, the FDIC is insolvent.
Stick with what works.
A participating non-direct recognition whole life policy has been around for nearly 200 years. It'll be around for another 200+ years because it simply works. It is the safest place you can warehouse your cash.
Combine the fact that you can make $1 do the work of $2 by saving money with the same dollar being used to pay off debt, and you'll realize you're the smartest person in the room once you learn about the Bank on Yourself.
Despite all the uncertainty in the world today, one thing is certain. The business of banking is eternal and will survive what happens politically and economically in the decades to come. For that reason above all else, it's crucial that individuals have their own banking system. The sooner we, as individuals, control our flow of money through the creation of our personalized Infinite Banking system, the safer and wealthier we will become.
Go to www.CashValueBanking.com to learn more or call (800) 208-6141 to request a free analysis by a Bank on Yourself certified advisor. All appointments can be done over the phone and in front of your computer. Let your cash find a safe place before the storm clouds on the horizon gets any closer.
(Note: If you have a preconceived notion that this is like your mom's or grandma's whole life policy, you're sorely mistaken. A short online meeting can put that notion to rest quickly. And if you think you're too old or have health issues, we can look at insuring your spouse, child, or grandchild.)
JLM Wealth Strategies