DEBT DIAGNOSIS

Page 34 of Becom­ing Your Own Banker is ded­i­cated to The Arrival Syndrome.

The def­i­n­i­tion accord­ing to Nel­son Nash is — “When this thing infects us, we stop grow­ing, stop learn­ing. We ROT!. We turn off or tune out our abil­ity to receive inspi­ra­tion — because we already know all there is to know!”

One good thing that the finan­cial bub­ble bust has improved is that fewer peo­ple now have the arrival syn­drome when it comes to finances.

Too many peo­ple have lost a lot of their life sav­ings and so have less faith in the “nor­mal” expert finan­cial advice that peo­ple have been fed for too long.

Before the bust, when things appeared to be going well, peo­ple were closed off from learn­ing another way of build­ing wealth. They felt they had arrived. They knew it all and I or oth­ers like me couldn’t pos­si­bly know of a bet­ter way.

Now, how­ever, so many more peo­ple believe there has to be a bet­ter way and are open to lis­ten­ing to peo­ple like me who have found and are prac­tic­ing a solu­tion to the cur­rent finan­cial tur­moil, the solu­tion that Nel­son Nash wrote about in his book 10 years ago. How­ever Nel­son has been prac­tic­ing this con­cept for a lot longer than that.

It is also writ­ten about in the How Pri­va­tized Bank­ing Really Works.

Also, watch G. Edward Griffin’s video on The Birth of the Fed­eral Reserve.

When you really think about it with an open mind, the facts are simple.

1. Bank­ing is not taught any­where, in any school, at any level.

2. Every­one learns bank­ing from what banks adver­tise or directly tell them to do. So our edu­ca­tion is com­ing from the banks them­selves. Do you think they might tell us how to bank so it ben­e­fits their prof­its or not? Sure, some peo­ple know more about bank­ing than oth­ers but those who do know, usu­ally don’t tell.

3. Most peo­ple believe bank­ing is all about: pay­ing bills, stor­ing some sav­ings and bor­row­ing money.

a/ Cheque books and  debit cards, for pay­ing bills.

b/ CD’s, Money Mar­kets and sav­ing accounts for easy sav­ing of money. Sav­ings accounts for easy access and CD’s for longer term with a higher inter­est rate sav­ings.   See here for more info. about the cur­rent guar­an­tees of the FDIC.

c/ Bor­row­ing money for big ticket items, or busi­ness cash flow, because their sav­ings are tied up some place else and are not acces­si­ble or they do not want to touch them in case they need cash flow in the future.

4. Most peo­ple believe bank’s prof­its are deter­mined by the few per­cent dif­fer­ence between the sav­ings account inter­est rates and the lend­ing inter­est rates because they have never learned about VOLUME and VELOCITY in bank­ing which is where the prof­its truly lie.

5. Most peo­ple believe one has to invest in some­thing to earn big prof­its. Very few under­stand that financ­ing through your own bank instead of some­one else’s bank is more lucra­tive with the least amount of risk and has the most tax advan­tages than any other method of wealth building.

6. Most peo­ple think banks invest to make their prof­its but in real­ity they lend instead. But if you deposit $100 into your account, they can lend $1,000.

7. Most peo­ple think the bank vault holds all the cash that is held in the sav­ings accounts. Do a test. Go and ask your bank for a $10,000 with­drawal from your account in cash. Obvi­ously you need to have $10,000 in your account to be able to but if you do, see if they can give it to right then and there or whether they would have to order it and you would have to wait a week before they could give it to you.

8. Most peo­ple think banks lend their own money to bor­row­ers but in real­ity they lend the savers and depos­i­tors money to borrowers.

9. Over the few years of this finan­cial down­turn, our local bank, which opened in 1993,  has opened over 5 new branches in sur­round­ing areas. It has grown to eleven branches. What does that tell you?

Read the two books that I have linked to above and then call me so I can show you what own­ing your own pri­vate bank­ing sys­tem can do for you. And how you can veloc­i­t­ize your money like the banks are doing right now with your money.

Jen­nifer Hansen

845 – 649-7487