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How Privatized Banking Really Works - Integrating Austrian Economics with the Infinite Banking Concept Paperback – 2010

4.2 out of 5 stars 22 customer reviews

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Product Details

  • Paperback
  • Publisher: United Services and Trust Corp; 2nd edition (2010)
  • ISBN-10: 061532682X
  • ISBN-13: 978-0615326825
  • Product Dimensions: 8.9 x 6 x 0.9 inches
  • Shipping Weight: 14.4 ounces
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (22 customer reviews)
  • Amazon Best Sellers Rank: #432,441 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Book : How Privatized Banking Really Works
Author(s) : L. Carlos Lara and Robert P. Murphy Ph.D.

It goes into how you can become your own bank using
Dividend Paying Whole Life Insurance policy.

You build cash value by depositing money into policy. After
doing this for years, you have enough "Net Cash Value" to finance
a car from said policy.

You borrow some money, not all, from your policy, to finance
car.

You then begin paying yourself back WITH INTEREST
(becoming your own bank) over 5 years (like you would if you had
a car loan from commercial bank).

But instead of commercial bank getting the interest payment on
the loan, you are paying that interest back to yourself as you
make monthly payments back to your policy.

So instead of commercial bank getting $1,000's in interest
payments, you are paying yourself back those dollars.

During the years, money in policy, and your monthly payments
you are depositing are earning a guaranteed dividend.

If you follow the rules, all of this is tax free.

Book does much better explanation than I can here.

Book explains our current Federal Reserve Banking system in
simple, easy to understand terms.

One idea to understand is how currently banks create money
from nothing, causing inflation, boom-bust cycles in economy.

Fractional Reserve Banking is method currently used, causing
inflation, etc.

This book explains that very well, good detail.

Federal Reserve is also explained, this is my take-away of
Federal Reserve.
Read more ›
1 Comment 41 of 42 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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I believe this book should be mandatory reading for all elected officials or anyone who is concerned about their country or their financial future. This book is educational and tells you things about money and banking you may not have heard before. It is told with illustrations that are easy to follow but for those who have never been exposed to basic principals of money, some sections may require a second reading. But read it you should.

Anyone can take control of their financial environment by learning how banks work and duplicating the process in their own lives. With a pool of money they control and therefore earn what the banks have been making off of them all their lives.

As much as this book can be a self help in getting out of the money rat race, it's also provides a solution to the problems our country faces. Lara and Murphy have done a great job in simplifying where this mess in the United States came from. That's why I think ALL elected officials should be required to read it. Many of them make decisions affecting our economy (either locally or nationally) yet have no basic understanding of common sense economic principals.

After reading this book many will ask themselves "With banking being so profitable how on earth did so many of them screw it up so badly?"

Read it, enjoy it and learn from it!
Comment 24 of 26 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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This is a great book ! It is very easy to read and full of great information.

If you are at all curious about what money really is, and how it came about, you will find your answer here. You will finally understand what the gold standard means, and how the value of the US dollar has lost its value since the US came off the gold standard. You will see what Ron Paul has been talking about for years about the Federal Reserve. And, you will learn of a practical solution to some of this mess which may be right for you.

The authors write in a way that all can understand and encourage and direct you to other sources should you want more study on the topics.
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If you have a life insurance license you must read this book.

If you are looking for an alternative view on safely investing your money you should read this book.

This not risky or exciting and simply recaptures interest you would pay anyway back into your pocket. If you take the concept further you can start to become the bank for others. For example a group of dentists used this concept to select a dentist each year graduating from dental school and financed the set up of the practice.

Also check out Nelson Nash "Be Your Own Banker" for the cliff notes version of this concept.
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How Privatized Banking Really Works is a great book and is written so anyone can understand. Don't let the title fool you; it is not an overly academic book. Great read with a lot of great information. Everyone should read it.
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Verified Purchase
I've found the information extremely helpful and insighful. I must admit I am a rookie when it comes to this kind of financial information but it made me really think about my investments and the goals I have for me and my family. I believe the concepts are a bit overly simplified but still relevant. I have asked several friends, some of whom are financial advisors, and they are aware of the concept but not exactly a cheerleader of the ideas of bank on yourself. Their arguements, in my opinion, were weak with bias toward their "expertise" and "experience". Did any of them actualy use the system? No. Enough said.
I actually called an advisor outside my home state who is a huge advocate of the system. His points were...1) Not get rich quick, 2) First purpose is to buy the things one would normally finance at a bank or car dealer to make major purchases, thus paying yourself the interest that the bank would have collected. His idea was that over a 20 to 30 year period one would be miles ahead as the way the policy is set up begins to really multiply in later years. And unlike traditional whole life policies, you or your family keep both the death benefit and the accumulated cash value. 3) a growing death benefit.

I have not jumped in with both feet because, basically, you must have expendable income to fund a program, minimum $500 a month. To this fellows credit he explained, answered all of my questions and totally backed off, no pressure.

Back to the book. I would recommend it as part of your arsenal of learning! Follow through is up to you.
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