- File Size: 4298 KB
- Print Length: 190 pages
- Publisher: WealthClasses Publishing; 1st edition (July 6, 2012)
- Publication Date: July 6, 2012
- Sold by: Amazon Digital Services LLC
- Language: English
- ASIN: B008IGL96M
- Text-to-Speech: Enabled
- Word Wise: Enabled
- Lending: Enabled
- Amazon Best Sellers Rank: #316,442 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
The Banker's Code: The Most Powerful Wealth-Building Strategies Finally Revealed Kindle Edition
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Top Customer Reviews
Let's start with a incorrect claim made repeatedly in the book, the average American spends 35% of their income on interest. That's not just wrong, it is wildly wrong. According to the Bureau of Economic Analysis ([...]) in Q3 2012 personal income in the US was $13.5 trillion. Personal non-mortgage interest paid was $176 billion or 2% of household income. The average mortgage interest payments as a percentage of household income are under 10% on average. Total interest payments are well under 15% NOT the 35% claimed in the book.
The book has other monetary nonsense, such as claiming that bankers create money when they charge interest. That's the sort of stuff you see on nutty websites and has no place in any serious book.
In one section the book gives an example of a banker writing a 6 month loan that might make the bank $8,000 to an investor who stands to make $80,000 but proceeds to claim that the bank is making more money than the investor. Other illogical statements pepper this book.
But The Banker's Code isn't a serious book, it is a book designed to sell you whole life insurance, get you to sign up for seminars and doesn't provide either a sensible way to get out of debt or a to become a banker if you have no money to lend.
If you are in debt and need some basic methods to get out of debt, see Dave Ramsey. If you already have money and are looking for the best way to make money off your capital this book is the wrong one to be reading.
Bankers get rich because they get people to lend them money at 1% and loan it out at 6%. That's the secret to banking in a single sentence and will save you from wasting several hours on this book.
I am thankful to GEORGE ANTONE for writing such a nice book.
Most Recent Customer Reviews
I like this book is very educational on things that u take for granted when handling moneyPublished 2 months ago by Amazon Customer
One of the most enlightening books on personal finance I have ever read. I was so excited after reading this book I passed copies along to 20 of my closest friends.Published 7 months ago by Brian B
EXcellent livre. Bien écrit et simple à comprendre. Il manque une suite au livre et l'auteur nous met en garde dès le début. Read morePublished 9 months ago by Denis
This book provides a good brief on how to think differently about money, I found it very insightful and easy to understand.Published 11 months ago by Coupel
This book will change the way you look at how you spend and how you save and how to leverage money to amass wealth.Published 13 months ago by Tarik Nasir
This book teaches so simply on such sophisticated strategies for private money lending that understanding came with ease. Read morePublished 15 months ago by Brady
I am very impressed. If you like Rich Dad, you'll love this book. It will most likely change your way of thinking. Be somebody! Be the bank! Five stars.Published 16 months ago by 265XUE