BankNotes – April 2016

One of the most persistent — and fallacious — argument against the libertarian or laissez-faire position is that libertarianism is an “atomistic” and “selfish” philosophy that denies the obvious truth that human beings are a “social species” who long for a strong sense of community.

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BankNotes – March 2016

The insidious nature of the war on cash derives not just from the hurdles governments place in the way of those who use cash, but also from the aura of suspicion that has begun to pervade private cash transactions. In a normal market economy, businesses would welcome taking cash.

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BankNotes – February 2016

At the February 2013 IBC Think Tank, the Infinite Banking Institute was launched. It was not a brand new entity, but instead it marked a more formalized structure through which Nelson Nash’s Infinite Banking Concept (IBC) could be communicated to the general public and the financial services industry.

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BankNotes – January 2016

Recently Senator Ted Cruz aggressively questioned Janet Yellen on the Fed’s possible role in causing the financial crisis and subsequent recession. In particular, he claimed that “in the summer of 2008” the Fed “told markets that it was shifting to a tighter monetary policy,” and that this announcement “set off a scramble for cash, which caused the dollar to soar, asset prices to collapse, and CPI [growth — RPM] to fall below zero, which set the stage for the crisis.”

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BankNotes – December 2015

If you want to do business in Venezuela, you will have to let the government do your bookkeeping to make sure you aren’t making too much. Venezuelan president Nicolás Maduro’s decree, called the “Organic Law of Fair Prices,” sets a maximum “fair” profit at 30 percent of costs. Besides the practical problems of implementing such a measure, the ceiling rests on a basic misconception: the idea that there is such a thing as “fair” or “excessive” profits misunderstands the function of profit — and loss — in a market economy.

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BankNotes – November 2015

I am both saddened and excited to share with you some changes, and new training opportunities available at our annual Think Tank Symposium. Saddened because Nelson has publicly announced that he will no longer lead his ground-breaking Becoming Your Own Banker Seminar after November, 2016.

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BankNotes – October 2015

When I was in the second through fourth grades in grammar school we lived across the road from the airport in Athens, Georgia. I was just a kid who became fascinated with airplanes. Fantasizing what it would be like to be a pilot of one occupied a great deal of my time. Would you believe it? Just six years later I made my first solo flight on that very airport in a Taylorcraft BC-12D – a two-seater, side-by-side “tail-dragger” light airplane, powered by a 65 horsepower Continental engine.

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BankNotes – September 2015

To put this story into context we will need to go back in time to the Spring of 1957. That was when I was introduced to the Austrian School of economic thought through The Foundation for Economic Education (FEE). The book Economics In One Lesson by Henry Hazlitt is where my journey began.

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BankNotes – August 2015

C. Northcote Parkinson (1909 – 1993) was an interesting British naval officer who left us some valuable insights into human behavior. His sense of humor makes for good reading. His little essay, Parkinson’s Law, written in 1955, tells us “Work expands to fill the time available for its completion.”

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