Archives For Money

The creation, sale, and distribution of human energy. Monopoly – created by law and is enforced by law.

For purposes of this discussion, the words money and human energy are one in the same.

1) The Creation of Human Energy – Congress borrowers money from The Federal Reserve. They make principle/interest payments. The paper money you hold is the IOU or Congress’ promise to The Fed to pay back the debt. How does The Fed ‘make” the money? An entry into a computer.

2) The Sale of Human Energy – The Federal Reserve decides the price (or interest rate) of money. They lend it to banks at an interest rate. The bank lends it to you at a higher rate and makes profit. Why don’t you have access to money closer to the point of creation and therefore a cheaper rate of interest? Because of the law.

3) The Distribution of Human Energy – The Fed makes it, the bank borrowers it. The bank lends it to you after they decide if you’re worthy of being lent to. Loan application, SSN, credit scores, collateral, assets, etc. They either say yes or no.

Look at back of your Closing Disclosure. $100k loan, total paid over life of loan if min pmts made. Expressed as a dollar amount and percentage. This is only in the last 12 months. The old TIL only showed the total dollar amount.

Closing: If you’re the only one who creates, sells, and distributes human energy is it possible you’d develop a God complex somewhere along the way? Why? You control the population. This control is global.

Resource:
Why It’s Called a Bank – podcast
The Creature From Jekyll Island – book

Get in touch. Podcast page. email or voicemail button.

I’m Greg Whitaker reminding you:

Get Your Mind Straight. Get Your Money Straight
Debt Shepherd 2017, All Rights Reserved

The more complicated you make your finances, the more the tyranny of their complexity can rule your life.

1) What you see vs what you think.

If it’s a mess on the outside, it’s a mess on the inside. House, car, clothes, garage, body, finances. No different.

2) The un-manifest and the manifest.

What hasn’t shown up vs what has shown up vs what you think and do they match? If not, this can cause anxiety.

3) Write down your income vs your expenses.

POP your finances. Put it on paper. Take what you’ve been thinking about and force yourself to see it in writing. Feedback from students on this one.

Less bills to pay. Less moving parts. Less to worry/think about. Fewer checks to write. More money in the bank?

Resource:
Charles Hugh Smith

Get Your Mind Straight. Get Your Money Straight.

Debt Shepherd 2017, All Rights Reserved

Taking a look at our pay stub and seeing just how much Uncle Sam “steals.”

1) Federal, state, medicare, & social security are all taxes. In my case, it’s federal, Medicare & Social Security. 23%.

Look at these deductions, add them up, divide by your gross income. 1 out of 4 days I work, I receive zero immediate benefit.

2) Property taxes. Do you ever truly own your home, land?

Taxation is the use of indirect force by government (IRS). It is an extraction of your wealth used to expand the size and power of gov’t.

Stop paying your property taxes. Eventually the gov’t will take your home/land.

3) Government doesn’t produce anything in the open market. It is always a liability.

As gov’t grows, so does your tax bill.

My industry, banking, doesn’t produce anything either. It charges interest (rent) for the use of money and charges fees.

Not complaining. Reminding you to reduce your liabilities (debt) so you’ve got more money left to do what you please.

Resource:
Ayn Rand

Debt Shepherd 2017, All Rights Reserved
3

We owe this topic idea to Jonar Nader’s book:
“How to Lose Friends and Infuriate People”

1) What would your workplace be like if you knew everyone’s rate of pay?

From your co-workers salary to your boss.
To the owner’s annual profit.
To bonus’ of everyone including upper management.

2) What if you didn’t get paid unless the company made a profit each month?

Would your attendance improve?
Would you be less apt to take a sick day, even though you weren’t sick?

3) What if before you got hired, your would be co-workers got to help decide on your hire, rate of pay, and saw your credit scores?

Why would these ideas scare you?
Why is our income taboo in America?
Knowing someone’s income seems like seeing them naked for the first time. Why?

Income is social status, zip code, education.
It’s a measuring device we use to make decisions about people, including ourselves.

Resources:
bookfinder.com To find “How To Lose Friends & Infuriate People”
Jonar Nader

Debt Shepherd 2017, All Rights Reserved

I answer listener email questions about finance with my good friend Ahyh.

Twitter trends Nashville @ 11:30 a.m. Sunday Of 10 listed, 5 are sports.

Last 3 emails I got:

1) Dear Debt Shepherd,

I am writing you to express my thankfulness to your work.

There are loads, loads of podcasts about money, credit, etc but they are not about changing the spiritual side of being wealthy. That makes your radio special from many others.

I am looking forward to listening to “Get your mind straight” series. I have already reduced the amount of junk food in my meal, and I feel way much better after the food part of it. 

Keep going on! You are doing great work!
Warm greetings from Siberia – Anna Svinoboeva

2) Hi Greg:
 
Thanks for the encouraging feedback.
 
We agree with you on the 401(k) — since Wall Street is also taking two-thirds of the employer-match in fees over the long haul. Much better to set up your own IRA at a local, FDIC-insured community bank that makes sound loans to local businesses and local home mortgages.
 
Best regards,
Pam Martens
Wall Street On Parade

2/3 of your 401k and employer match are being eaten up by just 2% annual fees!

3) Should I buy another car if my current one is paid for and running just fine? Honda, high miles. Wife says “I deserve it” listener said Honda might not be safe since lacks safety features of newer cars.

Close:

Advice from Catherine Austin Fitts of Solari
1) Bank Local
2) Turn off TV
3) Eat Fresh (& local).

Get your mind straight. Get your money straight.
Debt Shepherd 2016, All rights reserved.

The importance of money conversations in the home.

– Financially illiterate parents raise children to repeat the same.

– Environmental determinism pre late 1800’s vs present.

– Environmental determinism post industrial revolution, post computer age, post globalism.

– How early should we start teaching money to kids?
– How early should we start sharing our financial literacy with kids?

– Why aren’t money matters taught within the family?

– How can we expect gov/t to improve the economy when we don’t practice discipline ourselves?

Get Your Mind Straight. Get Your Money Straight.
Debt Shepherd 2016, All Rights Reserved

I discuss the three things needed to get the debt free feeling.

Practice
Little Bites
Focus

Resources:
Pocket Calculator
Your Paycheck

Get Your Mind Straight. Get Your Money Straight.
Debt Shepherd 2016, All Rights Reserved

Economic Envy – 211 DSR

March 19, 2016

Jones'

We discuss the dangers of keeping up with the elusive Jones’.

We ask the following:

– Since the word Greed is more commonly used when referring to money, is there a difference between envy & greed?

– TV was first demonstrated a mere 90 yrs. ago. Thoughts on it’s influence on Americas “Can’t Get Enough” attitude.

– Is TV’s influence intentional or accidental?

– TV’s appeal to emotion vs rational mind.

– TV, are we better off without it?

In the 2005 book – American Mania: When More is Not Enough we are reminded:

“Despite an astonishing appetite for life, more and more Americans are feeling overworked and dissatisfied. In the world’s most affluent nation, epidemic rates of stress, anxiety, depression, obesity, and time urgency are now grudgingly accepted as part of everyday existence. They signal the American Dream gone awry.”

Resources:
American Mania: When More is Not Enough
Four Arguments for the Elimination of Television

Get Your Mind Straight. Get Your Money Straight.
Debt Shepherd 2016, All Rights Reserved