The-Brokern-Banking-System

The Broken Banking SystemRecently our friends at The Real Estate Guys interviewed on their radio program economists Robert Murphy and Carlos Lara, authors of the book How Privatized Banking Really Works. They discussed the current state of the banking system and how it has changed.

“Today’s banking system is a far cry from George Bailey’s Bailey Building and Loan in the classic film “It’s a Wonderful Life”.

Back then, savers put money in local institutions where local bankers lent it out to local borrowers.  It was very community focused.

Today, everything funnels through Wall Street and the Federal Reserve, and the last few years have shown that when deals get made too far away from Main Street, weird stuff happens –  like meltdowns and bailouts.”

“But before you just park all that cash in a broken banking system, listen to Robert Murphy and Carlos Lara explain an alternative which provides direct current benefits to you, while circumventing the fractional reserve system that they say contributes to the problems the current system causes.  VERY interesting stuff!”

You can read the blog post on their website www.realestateguysradio.com/blog or listen to the show: Infinite Banking – The Broken Banking System and What You Can Do About It

You can find out more information about  Robert Murphy and Carlos Lara and their book How Privatized Banking Really Works by visiting their website – www.usatrustonline.com.

The Real Estate GuysTo learn more about the Real Estate Guys Radio and the insight they provide regarding real estate markets, the economy,  and much more, visit their website www.realestateguysradio.com.

Every year The Real Estate Guys put on a great event called: Investor Summit at Sea.  This year they are having their 10th annual event which includes Robert and Kim Kiyosaki from the Rich Dad organization.  To learn more about this great educational event visit their Investor Summit at Sea page.

For more information about Paradigm Life and Infinite Banking, download our article or contact us at info@paradigmlife.net or by phone at 1-800-870-8670.

Patrick Donohoe

Patrick Donohoe (47 Posts)

Patrick is the President and CEO and started Paradigm Life in 2007 after learning from his mentor Kim Butler about financial strategies outside of Wall Street. With a background in economics and marketing, Patrick immediately realized the opportunity to teach investors, business owners, professionals and families on a large scale using modern digital media and communication technology. Since 2007 Paradigm Life has worked with thousands of individuals in all 50 states. Patrick has shared the stage with financial experts such as Robert Kiyosaki, Peter Schiff, G Edward Griffin, Tom Hopkins, Blair Singer, Donald Trump Jr and more. Patrick co-created the Cash Flow Wealth Summit (www.cashflowwealthsummit.com) with his friends Tom Wheelwright, CPA of Provision Wealth and Andy Tanner, the author of 401kaos and Stock market cash flow (have links to their websites and books). Patrick hosts The Wealth Standard Radio - a popular financial podcast every Wednesday morning at 9am MST on the Tune In Radio Network. The Wealth Standard Radio has been on the air since 2007. Patrick grew up in West Hartford, Connecticut and moved to Salt Lake City in 2003 to attend the University of Utah and graduated with a BA in Economics. His yearly highlights are a family trip to his parents home in Cape Cod, Massachusetts and to Hermosillo, Sonora Mexico where his wife Synthia's family resides. He enjoys playing ice hockey and is an avid participant in CrossFit. Patrick currently resides in Salt Lake City, Utah, with his wife Synthia and their three children Hannah, Meghan and Jack.