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15 Oct

2021 September BankNotes

In his classic work Becoming Your Own Banker, Nelson Nash claims that the standard approach to life insurance has things backwards. Consumers have been taught to get their desired death benefit for as little outlay as possible.

13 Aug

2021 August BankNotes

Nowadays the average American has been taught to believe that a very responsible financial strategy is to plunk as much of his paycheck every month as possible into a “diversified” and “conservative” mix of stocks and, if he wants to really play it safe, to mix in some government bonds. Naturally the acme of savvy saving is supposed to be a tax-qualified vehicle such as a Roth IRA for the self-employed, a 401(k) for salaried employees, or a 403(b) for educators.
In the 20th century, households used actual savings accounts at the bank—which were distinct from checking accounts. Households also invested directly in bonds and life insurance.

21 Jul

2021 July BankNotes

PART III Lesson 3 To Start Building Your Own Banking System Content: Page 42-43, Becoming Your Own Banker Fifth Edition
Now, let’s look at Method E. We will call this twin “Insurance Sister.” She uses dividend-paying whole life insurance as a depositary of the necessary capital to create her banking system to finance her automobiles. She puts $5,000 per year into very high-premium life insurance with a mutual company. Recall the diagram back on page 41. (There are some exceptions to this requirement – there are some stock companies that have dividend-paying policies that perform very well).

30 Jun

2021 June BankNotes

When people first hear about the advantages of the Infinite Banking Concept (IBC), a typical reaction is to say, “That’s too good to be true.”

12 May

2021 May BankNotes

Of course, the importance of insurer selection must
not be underestimated. Life insurance involves a
long-term guarantee

12 Apr

2021 April BankNotes

The Modified Endowment Contract aka The MEC: By L. Carlos Lara
For those of us who have read Nelson Nash’s book, Becoming Your Own Banker, or even for those of us who are just now entertaining the idea of doing so, the resultant understanding after reading it is that the platform used to set up the process for becoming your own banker requires a specially designed insurance contract. To be even more specific, it requires a dividend paying Whole Life insurance policy with a special codicil known as a Paid-up Additions Rider.

09 Mar

2021 March BankNotes

President Biden claimed during his Super Bowl interview that “all the economics show” that if the government imposes a $15 minimum wage then “the whole economy rises. For his part, Nobel laureate Paul Krugman has claimed for years that “[t]here’s just no evidence that raising the minimum wage costs jobs, at least when the starting point is as low as it is in modern America.”
Is this really possible?

12 Feb

2021 February BankNotes

Why Nelson Labeled This “The Infinite Banking Concept” By David Stearns

14 Jan

2021 January BankNotes

Get-out-of-debt guru Dave Ramsey recently released on YouTube an excerpt
of his show where he called IBC a “scam.” Specifically, someone called in
to tell Dave that his financial advisor had touted the benefits of a Whole Life
policy with a mutual company, including the dividends. Ramsey was aghast,
and explained that since the owners of a mutual company are the customers,
any “dividend” they send to you is necessarily coming out of your own pocket.
In fact, Dave explained, the IRS itself acknowledges this, by calling such a dividend a “return of a deliberate overcharge of premium”; this is why the IRS doesn’t tax it as income. Dave ended the call by telling his listener that he needed to get a real financial advisor, not someone trying to sell overpriced Whole Life insurance.

07 Dec

2020 December BankNotes

A world of tighter top-down government control and more authoritarian leadership, with limited innovation and growing citizen pushback.” 1
The Rockefeller Foundation on the future SCENARIOS: May 2010

12 Nov

2020 November BankNotes

Some years ago, the late Nobel prize-winning Dr. Albert Schweitzer was asked by a reporter, “Doctor, what’s wrong with men today? The great doctor was silent a moment, and then he said, “Men simply don’t think!”

06 Oct

2020 October BankNotes

As I explained last month in the first installment of this series, I am showing the reader that the various attacks on our liberties are part of a coordinated strategy that was conceived decades ago by avowed socialists. I realize that is a provocative claim, but it is easily demonstrated, as I show in this series.