While most Americans are struggling to survive right now, the FAT CATs in Washington are busy spending our money. It never ceases to amaze me how few people really understand what's going on with our government.
I was just watching a little news while I enjoyed my frozen dinner (saving $), and a popular talk show host was commenting on the economy... PLEASE! Get a clue! Why do Americans put so much trust in the media? They invite so called financial analysts on the talk shows and ask them "tough questions" about our country's financial mess.
An article posted on U.S.News and World Report today was "How to Tell if You Have a Good 401(k) Plan" If we can't figure this one out, we're in a heap of trouble... The article touted good points such as getting a generous match by your employer, short wait times to get started, vesting and fees. Duh!!!
The article mentioned nothing about how Uncle Sam ultimately controls the 401(k) and how he can change the rules at his discretion. Or that ordinary citizens have lost Trillions in the market over the past several years. Or that the whole tax deferral hype is a bunch of CRAP!
For many people the 401(k) certainly offers them a way to save money. And, if you get a match, why not contribute up to that point, but not a penny more. But, if you have to risk your life savings in a volatile market with no guarantees... that's more than dangerous, it's insanity.
Why am I so tough on qualified retirement plans? Because I've seen families lose their entire life savings. And, I don't trust the government with the purse strings.
So, what's a person to do? Take control of your money, NOW! There's no other way to put it, take your money and run. I'm no market analyst and I don't have a crystal ball, but the writing is on the wall. The government is broke and they want your money. The stock market is as uncertain as it gets. So I'll ask you, why would you put your money in a 401(k)? If you know anyone who has ever gotten wealthy because of their 401(k), I'd like to meet them.
Recently, I attended the "Night of Clarity" in Nashville, Tennessee. This was a seminar about Austrian Economics and Privatized Banking. The event boasted an impressive list of Austrian Economists including Tom E. Woods, PhD, resident scholar at the Mises Institute and the author of the recent New York Times best-seller Meltdown; Paul A. Cleveland, PhD, adjunct scholar at the Mises Institute, Professor of Economics at Birmingham Southern College and author of several books; Tom DiLorenzo, Professor of Economics at Loyola College in Baltimore, MD, Senior Fellow at the Ludwig von Mises Institute; Robert M. Ebeling, PhD, Professor of Economics at Northwood University, past president of Foundation for Economic Education, and the Ludwig von Mises Professor of Economics at Hillsdale College; R. Nelson Nash, creator of the Infinite Banking Concept and author of the best-selling book, Becoming Your Own Banker; and the authors of the new book How Privatized Banking Really Works, Robert P. Murphy, PhD, Economist and adjunct scholar at the Mises Institute and L. Carlos Lara.
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| Robert Murphy, PhD and Barry Page, RFC in Nashville |
Once we understand the problem inherent in our current system, we can work towards solving the problem. In 1913, with the 16th Amendment, our government created the federal income tax, and later that year the Federal Reserve or central bank. This is suspicious all to itself, but we must understand that the power of these two entities is absolute. They control the money!
But, that's not enough... Politicians are spending your money like it's going out of style.. it is! Our dollars have become worthless because they are no longer backed by gold. The Fed is printing worthless dollars!
How can we change this picture? In their book, Lara and Murphy outline how we can take the power back in three easy steps:
1. Sound Money - link outstanding dollars to Gold. Inflation goes away.
2. Private Banking - the government monopoly will then be abolished.
3. Close the Central Bank - the size and expense of government and taxes decrease while business increases.
It couldn't get much simpler than that. I hope you'll take the time to further your knowledge of banking and money by reading this book. You may also want to visit http://www.mises.org/ to learn why Austrian Economics is superior to Keynesian Economics.
Until next time,
Barry
Barry Page, RFC is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.
He has created a service that caters to families and business owners that are frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages.
His business is based in Ocean Springs, Mississippi and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html
