Wall Street is a Casino and They Are Gambling with Your Money

Wall Street is a Casino and they are Gambling with Your Money 

Asset managers and the big banks on Wall Street speculate and make bets with other people's money. Not only do banks run their business like casinos, they actually own, operate and finance gambling establishments. 

Derivatives are unregulated bets and expose investors to unforeseen risk. Credit default swaps are derivatives that were in part blamed for our current economic recession, yet the gambling goes on. 

401(k) participants, mutual fund holders and retail investors are unknowing participants in the derivatives markets as asset managers speculate with currency derivatives, interest rate derivatives, credit derivatives and equity derivatives. The total derivatives market is estimated to be a QUADRILLION dollars.

Hypocritically, all of the major banks hold their Tier 1 capital, their most important asset, in permanent life insurance called BOLI. Even the FDIC recommends that banks hold their assets there. That's right, while the big banks and asset managers encourage you to gamble, they play it safe by owning cash-value life insurance. 

Why gamble with your money? Turn the tables on the Wall Street Fat Cats and take control of your finances. You can own a safe asset that provides you with protection, savings, growth and banking features.

Are you sick and tired of seeing the Wall Street mobsters gamble with your money? Are you ready to tell the big banks and Wall Street good bye? Discover how you can free yourself from the corrupt system where the odds are clearly stacked against you.

Request a meeting and learn how you can fire your banker. You can bypass the Wall Street Casinos and take back control of your financial future when you learn how to Become Your Own Banker. Follow this link: http://legacyinsuranceagency.com/infinitebanking/ibc-meeting 

Until next time,
Barry Page

Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com

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Barry Page, RFC is recognized as a leading expert on finance, life insurance and private banking. He is a 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.

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 United States.


Contact me today by following this link: http://legacyinsuranceagency.com/contact 

Enough to Make Your Blood BOIL! The TRUTH about Your 401k and IRA

It's enough to make your blood boil. Once you learn the truth about your 401k and other IRA Government Qualified Retirement Accounts, you'll want to reevaluate your financial plans.

Barry Dyke, author of "The Pirates of Manhattan - Highway To Serfdom", blows the top off Wall Street and the so called, "Government Regulators": http://economicwarrior.org/2012/08/14/author-unveils-americans-77-38-exposure-to-stocks-in-their-retirement-accounts-rampant-speculation-with-no-guarantees/

In this short video, Barry Dyke, discusses the severity of the rampant speculation problem on Wall Street with Allen McLellan of The American College. Dyke explains how your mutual funds in your retirement accounts are like rolling the dice at the casinos. Dyke says "The deck is stacked against the average investor and the government goes along with the scam.” http://www.thewealthchannel.com/videos/the-house-always-wins

Here are some notable lines from the book, The Pirates of Manhattan Highway To Serfdom, that put tax evasion in perspective:

"GE paid nothing in taxes in 2010-in fact the conglomerate claimed a $3.2 billion tax credit." 

"Andrea Mitchell the NBC chief foreign affairs correspondent for NBC in Washington is married to former Federal Reserve Chairman Alan Greenspan." 

"GE CEO Jeffrey Immelt is on the Board of Directors of the Federal Reserve Bank of New York along with Jamie Diamond CEO of J.P. Morgan Chase. Pres. Obama appointed Mr. Immelt to be his top outside economic advisor."

Bottom line, if you want create a real retirement plan, don't take advice from Uncle Sam and the Mega Banks. You're better off on your own, creating your own system for finance.

IF You want to know the health of your retirement plan, get a financial checkup and see where you stand. Follow this link to schedule a no cost, no obligation consultation: http://legacyinsuranceagency.com/financialanalysis.html

Until next time, get your financial house in order!
Barry Page
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com

Shield Financial Consulting
www.shieldfinancial.com

Barry Page is recognized as a leading expert on life insurance and private banking. He is a 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.

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.

Where is Your Money?

Where is Your Money? Over the years you’ve heard me discuss the many options for saving and investing. While many financial gurus are still telling you to “max out your contributions” to retirement accounts, I’m raising the warning flag again…

But, I’m not the only one this time. You need to look no further than your newspaper or TV to find stories and articles on theft, corruption and taxes… Here’s a few that made headlines:

Wall Street Journal: “Missing MF Global Funds Could Top $1.2 Billion”
http://online.wsj.com/article/SB10001424052970204443404577052143849159420.html/
 
ZeroHedge: "The Entire System Has Been Utterly Destroyed By The MF Global Collapse"
http://www.zerohedge.com/news/entire-system-has-been-utterly-destroyed-mf-global-collapse-presenting-first-mf-global-casualty/

60 Minutes: “INSIDERS - Congressional Insider Trading”
http://youtu.be/x95uC_wzUX4/

CBS News: “Super committee's failure = super chance in 2012”
http://www.cbsnews.com/8301-215_162-57329393/super-committees-failure-super-chance-in-2012

InfoWars: “17 Quotes About The Coming Global Financial Collapse That Will Make Your Hair Stand Up” 
http://www.infowars.com/17-quotes-about-the-coming-global-financial-collapse-that-will-make-your-hair-stand-up/

FOXNEWS: “National Debt Hits $15 Trillion”
http://www.foxnews.com/politics/2011/11/16/national-debt-hits-15t-as-congress-strains-to-cut-12t/

Washington Post: “Treasury to Tap Pensions to Help Fund Government”
http://www.washingtonpost.com/business/economy/treasury-to-tap-pensions-to-help-fund-government/2011/05/15/AF2fqK4G_story.html?fb_ref=NetworkNews/


Okay, enough with the bad news, my message is not to depress or scare you. My intent is only to create awareness and motivate you to take action towards taking control of your personal assets. As an advisor it is my job, and I feel my responsibility, to warn you when you are at risk. I fear that the current economic situation, and the government control of U.S. retirement plans, will ultimately lead to the confiscation of trillions of dollars in what most assume are privately held assets. Why would you put another dime into a government qualified plan?

Here’s the good news, you have time to protect your assets before this assault on your private assets. But, don’t wait… Take an honest inventory of what is most important to you, and protect your assets while you have time. 

Contact me via my website www.legacyinsuranceagency.com and I will show you in 45 minutes how you could benefit from a program tailored to your unique circumstances. I've developed a unique, no-obligation, Financial Check-Up that can protect you and your family from financial predators and economic pitfalls. There will be no pressure, and you will not be asked to buy anything at this meeting.

Have a wonderful holiday!
Barry Page, RFC

Barry Page, RFC is a Registered Financial Consultant and Licensed Insurance Agent. He is an advocate for families and small business, and publishes this blog and www.legacyinsuranceagency.com to promote financial intelligence.

Another Day, Another Worthless Dollar

Another Day, Another Worthless Dollar

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.

Robert Murphy, PhD and Barry Page, RFC in Nashville

In my humble opinion, EVERY AMERICAN should read the book, How Privatized Banking Really Works. This book will open your eyes to the LIES that have been forced on our country by the government. It will shed light on the Federal Reserve and our banking system. The book is easy to understand and offers references and documentation to all of the subject matter it covers. The best part is that if offers the solution to our monetary problems.

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

Don't Believe the Hype about Financial Reform

Don't Believe the Hype about Financial Reform The Unintended Consequences of Investing with Uncle Sam

With all of the hype from the mainstream press about financial reform, consumers might assume that the Dodd-Frank bill will actually help their financial portfolio. A closer look though at the affects of the financial regulatory changes might reveal some unintended consequences.

Over 800 pages of politically charged financial regulation can be found in the bill. And while, from a consumer standpoint, this may sound like a good thing, it will probably add to the confusion already involved with investing. The legislation does provide some protection for the consumer, however these small improvements will have little positive impact for the average family.

Once again the Federal Reserve has bypassed scrutiny and emerged as the ultimate financial regulator. Nary a mention has been given to auditing this cartel though that was the first intent of Congressman, Ron Paul.


Taking a look at what will actually occur for most, we will cover the most common places that people park their money.

Qualified Retirement Plans (401k, 403b, IRA, etc)
Popular investments such as those offered by employers, because they may offer tax-benefits and are considered to be conservative, could see these regulatory decisions affecting the costs and availability associated with these plans. What's worse is that the full affect of the reform may not be known for some time.

Because of the gray area left in the bill, regulators have 15 months to study the issue. This could ultimately drag down the returns of these investments. Primarily these studies will involve "swaps", "wraps" and "derivatives", all of which can be found in typical retirement accounts. Kent Mason, partner at Davis & Harman LLP and outside counsel to the American Benefits Council, says this "would have an immediate and very troubling effect on 401(k) plans across the country."

Mutual Funds
Although their is little mention of mutual funds in the Dodd-Frank bill, it is likely that the legislation will affect the holdings of these funds.

Their is also uncertainty for bond funds which could further increase volatility. The (FDIC) Federal Deposit Insurance Corporation, will have more control to sieze troubled financial institutions, and have leeway to pay investors differing amounts on bonds, though they may be holding identical bonds issued by that particular institution. This could cause uncertain investors to dump the bonds at the first sign of trouble or to demand higher yields.

Bob Auwaerter, head of fixed income at Vanguard Group says this "can have all sorts of unintended effects". The potential result is unequal treatment of bondholders which "will reduce liquidity and lower the price."

Even worse, typical mutual fund investors, who are prone to trying to time market-buying decisions, could be affected by advertising. "Hot funds", touted by financial magazines, coordinated with advertising could result in misinformation being passed along to consumers.

Derivatives
At yearend 2009, there were $464 TRILLION in outstanding derivatives. While the new bill seems to focus on this problem, it is doubtful that the new provisions could have prevented the financial crisis.

Dividends
Probably the most troubling to investors is the taxing of dividends. Without further congressional action, the top dividend tax rate will skyrocket to 39.6% in 2011. Senate Finance Committee Chairman, Max Baucus (Dem. Mont.), will be a key player in the future debate over the taxation of dividends.

Brokerage Accounts
The (SEC) Securities and Exchange Commission will have authority under the bill to impose the same standard of "fiduciary" duty on brokers that currently apply to investment advisors. Meaning that brokers must provide advice that is in clients' "best interest". What exactly does this mean? How does a broker, that you have probably only spoken with on the phone, know what is in your best interest?

The bottom line is that the bill will provide minor improvements to consumer laws that regulate the financial industry. BUT, the major changes resulting in increased regulation will affect everyone from banks to insurance companies, resulting in more confusion and less profits.

Fortunately, there is one financial instrument that can keep you out of the confusion and chaos that congress continues to pursue. If you do your homework, you'll find that good, old-fashioned whole life insurance has survived for hundreds of years intact.

There are many flavors of life insurance, so you'll want to make sure you are dealing with an experienced agent that does business with a "mutual" life insurance company. Mutual life insurance carriers pay dividends to policyholders, and the owner of the contract controls the policy. You can learn more about the extraordinary benefits offered by whole life insurance here: http://legacyinsuranceagency.com/lifeinsurance/wholelife.html

Until next time,
Barry Page, RFC

Barry Page 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 protect their savings, but also provide tax advantages.

His business is based in Ocean Springs, MS and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

8 Scary Truths About Your IRA

8 Scary Truths About Your Qualified Plan (IRA)
And, How To Avoid Being Taxed to Death!

If you are pondering the thought of contributing more than your match to your 401k or whether or not to make an end of year contribution to your IRA, THINK AGAIN!

Before you put another dime into your 401k, 403b, TSP, SEP or other IRA you need to know what the government and your employer aren’t telling you. And, the truth may scare you!

Here are the scary facts about qualified plans that you’ll want to know.

SCARY TRUTH #1:
While many people think their Qualified Plans, that’s your 401k, 403b, TSP, SEP or IRA, save taxes; they don’t.
They do 2 things:
1. They defer tax
2. They defer the tax calculation

SCARY TRUTH #2:
Your employer may be making decisions about how your 401k is managed, without your knowledge. More and more employers are now automatically directing more of their employee’s pay into their 401k, and often it is into more risky investments; even though you may have previously chosen your own investments. Much of the money is being re-directed into “target-date” mutual funds, These funds lost so much money last year, that lawmakers and regulators are now analyzing and scrutinizing their actions. Morningstar reported that many that were at or near retirement with these type funds, suffered losses of 32 to 41 percent.

Even scarier, the fees charged on target-date funds are “significantly higher than those charged by other funds on plans’ investment menus” according to MoneyCentral.msn.com on October 10, 2009.

In comparison, the growth in a properly funded permanent life contract is both guaranteed and exponential. You can also predict the minimum guaranteed value of the plan, the minimum guaranteed income you can take from the policy, and how long you could take the withdrawal.

SCARY TRUTH #3:
Many of the important decisions about your employer sponsored IRA (401k, 403b, TSP, etc) may be made by people who may have No Training or education.

According to the November, 2009 issue of SmartMoney Magazine (“The Accidental 401k Planner”), as many as 90% of the country’s employees’ 401k plans are watched over by people who “need no special qualifications and no investing expertise or experience”. Many managers hire brokers to suggest mutual funds, and brokers are not legally required to choose funds with low fees, so the outcome could cost you tens of thousands of dollars over your lifetime.

SCARY TRUTH #4:
The true impact on your wealth from 401k hidden fees is ENORMOUS! While you may be aware of some charges, many fees are not required to be disclosed to you in the 401k or mutual fund prospectus.

And, even scarier, according to a 60 Minutes report, “401k Recession”, over your working career, this can result in your losing up to half of your nest egg!

By utilizing the Infinite Banking Concept™, you can kiss hidden fees goodbye. All costs are already included in the premium, and by properly funding a participateing whole-life policy, you will actually experience reduced costs that are associated with other contracts. So, why not request a Free, No Obligation Financial Analysis now?

Just click the link below to start enjoying the benefits: http://legacyinsuranceagency.com/financialanalysis.html

SCARY TRUTH #5:
As you near retirement your money in your 401k is more at risk. This is because the losses can be greater as your plan accumulates over time. A market loss in your last working years could be devastating. In a recent story in Time Magazine (“Why It’s Time to Retire the 401k”, October 9, 2009), they reported that during the recent market downturn, 401k’s of 55-to-65-year-olds lost a quarter more than those of their 35-to-45-year-old counterparts.

A dividend paying, whole-life policy actually becomes more efficient over time, and can provide you with peak growth at retirement, when you will need it most, without the risk associated with the stock market or other investments.

SCARY TRUTH #6:
Borrowing from your 401k can cause double taxation! If you borrow money from your 401k, for any reason before you’re 59½, in most cases you’re required to pay back any loans back in full with interest within 30 to 60 days, or you’ll have to pay income taxes, PLUS a 10% penalty. But, what’s worse is when you repay the loan you are using after tax dollars, so you will end up being taxed again upon distribution.

With a whole-life contract you can set the rules for borrowing and repaying the loan. And, the money received from loans is tax-free up to the cost-basis. Another benefit is that a properly funded policy will also continue to grow, even with a loan against it. A properly trained agent can show you how to receive even more tax advantages from your policy. The average family could expect to recapture hundreds of thousands of dollars over their lifetimes, just by using their life policies as a resource, without having to depend on banks or other financial institutions.


SCARY TRUTH #7:
Deferring income taxes could cause you to PAY MORE IN TAXES! And, that’s assuming tax-rates don’t increase at all. If you are deferring taxes now in a lower bracket, and you get normal cost of living raises, at retirement you could be in a higher tax bracket resulting in a higher tax rate. If taxes go up in the future, then things get even worse.

With a Maximum Efficient Contract, you could enjoy as much as a 150% better lifestyle at retirement without even touching your life insurance policy. If you make withdrawals from your policy, they could be completely income-tax free under current tax law.

SCARY TRUTH #8:
The government is in control of your Qualified Plan! And, just as they change tax laws every year, they can change the rules for your IRA. Think about what’s going on right now with government spending. Where will the money come from to fund these bailouts? Do you know that Congress has changed the rules on taxation of Social Security over the years so that now as much as 85% of Social Security income can be taxed?

So, why not take advantage of a properly funded whole-life policy that can give you protection and peace of mind without government control?

Qualified Plans: Trick or Treat?

Have a wonderful Fall Holiday!
Barry Page
Infinite Banking Think Tank Member
Financial Consultant
www.legacyinsuranceagency.com

Learn more about Infinite Banking here: www.infinitebanking.org