The Myth of Intelligent (Government) Design
Why would we think that moving decisions to government will result in more intelligent arrangements? by Gary M. Galles
Notes from the Cutting Edge of Finance: by Ryan GriggsFirst published in Feb, 2018 on Medium.com.
I’ve just returned from the Nelson Nash Institute’s (NNI) annual Think Tank conference for practitioners of the Infinite Banking Concept (IBC) in Birmingham, AL. It seems appropriate to say a few words about the experience.
For context, the IBC is a cash-flow management strategy that allows individuals to opt-out of the federally-enforced cartel that you might know as “the commercial banking system.” Nelson Nash is the creator of the IBC and author of the book Becoming Your Own Banker —read more
Individuals who own one or several dividend-paying Whole Life insurance
policies that are designed in the special way advocated by Nelson Nash’s
Infinite Banking Concept (IBC) are often faced with a perplexing question
and a decision they must make whenever the need arises to purchase or pay
Earlier in this series of articles I wrote a little bit about Social Security. But,
it kept haunting me that there is much more that needs to be revealed about
this unbelievable con game. And so, I offer just a few additional facts about it
and my observations of human financial behavior because of it.
In the May 2017 issue of the LMR, I wrote the first part of this series. I
began to tackle a common objection that Carlos and I get, when we talk
to crowds familiar with Austrian economics. (Notice the quotation marks
around the title of the article: These words are coming from the public, not
from me.) Specifically, people wondered how Carlos and I could be in
favor of the Infinite Banking Concept (IBC), after we had systematically
explained that the Federal Reserve’s actions since 2008 had set the U.S.
economy up for another crash, and also threatened the U.S. dollar. In such an
environment, why in the world would somebody want to load up on a dollardenominated
asset like life insurance?