On March 27, 2019 — not two months after that year’s Think Tank — Nelson graduated (Passed Away). Things didn’t feel the same this time as we shuttled downtown late Tuesday morning. Though attendance this year would be the greatest in eight years, this one man’s absence was obvious and painful.
As in the grocery business that we discussed earlier, you must first study the banking business so that you have a firm grip on what it is all about and feel that you can run such a business. Without this confidence you are fighting a losing battle. This, too, is a very competitive business.
Although you may be discouraged of your progress in some areas, we are sure that you will be proud of your accomplishments in other areas, and perhaps one of them for many of our clients is your success towards achieving financial independence.
We define financial independence as a financial situation in which you have enough money set aside to take care of unexpected financial challenges and also enough money to take care of opportunities that become available to us. Believe us, when you have money available, opportunities are constantly knocking at your door.
The newfound openness of large numbers of Americans to socialism is, by now, a well documented phenomenon. According to a Gallup poll from earlier this year, 43% of Americans now believe that some form of socialism would be a good thing, in contrast to 51% who are still against it. A Harris poll found that four in ten Americans prefer socialism to capitalism. The trend is particular apparent in the young: another Gallup poll showed that as recently as 2010, 68% of people between 18 and 29 approved of capitalism, with only 51% approving of socialism, whereas in 2018, while the percentage among this age group favoring socialism was unchanged at 51%, those in favor of capitalism had dropped precipitously to 45%
Just when you think that you have learned all of the possible strategies associated with Nelson Nash’s Infinite Banking Concept (IBC), up pops a brand new one. New, that is, but only to all those who have never realized the various opportunities found in practicing IBC as your very own banking system, especially at tax time. But now the latest window of unrecognized opportunity for IBC has surfaced in the area of charitable giving. According to recent publications charitable dollars have dropped significantly under the new tax law.
The Infinite Banking Concept is a process in which you accumulate cash value in a properly-designed whole life insurance policy. This cash value is used as an emergency/opportunity fund.
At any time, your cash values are doing double duty: they allow you to leverage them into other assets and at the same time they continue to earn interest and dividends for you.
Although the roughly two million affected residents of Northern California are recovering from the rolling blackouts imposed by utility PG&E, the company has warned that these “fire safety outages” may be periodically required for another decade. Naturally, California Governor Gavin Newsom decried the debacle as yet another example of “greed and neglect.” Yet as IER analyst Jordan McGillis explained in a previous article, the episode actually showcases the dangers of a government-imposed monopoly in electricity provision. In this article, I’ll elaborate on McGillis’ insights and show why the conventional economic rationale for government regulation of electric utilities is fundamentally flawed. Read More in BankNotes
CLIMATE HYSTERIA: FACT VS. FICTION BY Robert P. Murphy
Despite their claims of just reporting on the science, the radical environmentalists don’t have the facts on their side. One of the big stories this month was “Climate Week” (September 24-30), and in particular the passionate testimony of sixteen-year-old Greta Thunberg before the UN, in which she famously exclaimed, “How dare you!” to the adults who were allegedly ruining her future. Another related item was the tragic death in late August of economist Martin Weitzman, which shone a spotlight on his technical work showing the limitations of conventional models in handling catastrophic risk scenarios.
Are you financially self-reliant? If not, decide to develop your own financial stability through taking control of your earning power, developing multiple streams of income, saving all you can, and concentrating on reliable investments with known or guaranteed returns. That way, even in times of stormy economic weather, you will find yourself on solid ground.
It is with this in mind that I wish to take a closer look at the Mutual Insurance Holding Company (MIHC), which is a topic that is relevant to IBC practitioners and all those who may be thinking of implementing IBC policies in the near future. It is especially important now because Bob and I repeatedly stress that we are in the midst of an unsustainable boom that will crash and IBC offers, among other benefits, an exit strategy from the market collapses that are heading our way.
