Nelson Nash: Plan As If You Are Going To Live FOREVER (2 of 30)

Without further ado, ladies and gentlemen, Nelson Nash.

Fantastic. Thank you. You're welcome. What an outstanding group of people you put together here. You know, I could go home now and it would be a successful week. So thank you very much for this opportunity.

We're going to be together for a day and a half. We need to really get to know each other a little bit more.

I assume all of you are in the insurance business. From what I've gathered so far, there's no one here that's not in the business. Okay. Now, I guess I can assume that you've all read my book. Becoming your own binder.

No exception. Long ago. How many have you. How many of you have read it at least 10 times?

Anybody more than that? All right. I know people who've read it 30 times and have said that they learn something new every time. Every single time. Well, why is this true?

When the student is ready, the teacher will appear. Why is this true? Now, those of you who've heard me speak before know that participation in the seminar is.

A plus. We learn more when we participate. Okay? I've been doing these seminars for over 30 years. I have never hurt anybody in a seminar.

I promise you, I will not hurt you.

Do we have a deal?

Okay. Perhaps from the book then you've learned a little bit about me. That first of all, I'm a Christian. I made that commitment when I was nine years old. Everything that I'll be telling you or talking about or have written about has gone through that filter first.

Now, all of you know that I'm a forester by education, right? Yes. Okay, that's important.

Learn to think long range. Steve, I think 70 years down the road, I'm not going to be here. Well, neither are you. So there.

Plans. If you're going to live forever, living if you're going to die today is a pretty good idea. So I say think at least three generations in the future. We're working on the fourth. We have three children, 10 grandchildren and six great grandchildren.

We've established systems for all these people down through the years. Their lives are totally different from the way that the average person lives today. It's because of solving the banking function.

Now.

All of you familiar with my website, have you all been to infinitebanking.org.

Have you spent much time on the website? For instance, go to Resources and look at Banknotes. That's our monthly newsletter. I'm extracting articles there primarily from the Mises Institute in the foundation of economic education and places like that. And occasionally I'll Put something in there myself.

What about the reading list? Have y' all looked at that reading list? There's 365 books on there. I do not put a book on there that I haven't read. Now, if you read all those books, you have one PhD in Austrian economics, one PhD in history. Are all of you familiar with what I. When I say Austrian economics, do you understand what I'm talking about?

Yes. Do we have a problem at all? Well, we've got to spend a little bit of time there then. Because.

Dr. Clarence Carson was a dear friend of Mary's and mine, we made him do foundation for Economic Education many years ago. He wrote this book called the World and the Group of An Idea. Back in the early 70s. It came out serially in the the Journal of the foundation for Economic Education. It came out serially, one chapter per month, and I think there's 24 chapters to it. Then it came out in hard copy, and then I read it at least three other times. That is a phenomenal book because it gets to the heart of the problem that plagues us all out here today.

Mary and I said, we worked with him for 22 years now, Dr. Paul Cleveland. Do y' all know who I'm talking about there? How about the little video, Banking with Life? Have y' all seen that? Yeah. Banking with Life. All right. That is a fantastic little overview of everything that I'm talking about. It is so good that when I saw it for the first time, I had to shed a tear. Someone finally put this thing together in a video form with just exceptional editing by.

The filmer of the show of the video. Dr. Paul Cleveland is an Austrian economist at Birmingham Southern University there in Birmingham.

I was reading the Freeman years ago and I came across this outstanding article and got down the bottom of it and I said, my word, this guy's from Birmingham, Alabama. Within hours we were talking. Within days we were having lunch. And within weeks we had recruited him to be on the board of directors of Dr. Clarence Carson's support group.

Anyway.

We all, the three of us became very, very good, close friends. And when Carson died, Paul and I got to conduct his funeral. So that's a real hallmark to me to be able to do such a thing. Clarence wrote from an economic point of view about things in history. Well, as a result of this, when Clarence died, all the rights to the works of Dr. Carson were given to Dr. Paul Cleveland. And so I was coming up to Edmonton a couple of years ago.

And the seminar, of course, is going to be on Friday And Saturday. And I've had back troubles quite a while. I named my first epidural shot to my back. That was on a Tuesday. I was scared to death that the doctors were going to tell me, you can't make that trip to Edmonton. They said, oh, no, no problem. Just don't do anything this day. Well, I took them at their word, Wang. I didn't do a cotton picking thing. I lay on that sofa in my work office. Well, I was looking at all the books on my briefcase and that top shelf in the far corner, world in the grip of an idea. And it had been ruminating in my mind for the last six months before this event that I'm telling you about that how important that book was that the world needs to understand.

And so I said, my word, that's that book, Mary, go get the ladder. Get that book down. And so I reread it on the way to Edmonton back. And when I got back I said to Dr. Paul Cleveland, Paul, that book has got to come back out again. But it needs to be brought up to date. And there's a number of things in there that won't be all that valuable to people today because it's historical things that happened during World War II and so forth. Well.

The name of the book is.

The Great Utopian Delusion. How many of you read that? Oh, hallelujah glory. But all of you should read that book, please. That is such an important message. Because the idea that has the grip with the world in its grip is, I guess you might just call it socialism. That's all. It can't work. I didn't say it won't work. It can't work because as I told you from my Christian background, I have to tell you that I've been studying Austrian economics with a passion for 59 years now. And from those two studies it's very evident to me that every government program of any kind is nothing more than man trying to play God in the pagan sense of the word. And the book of Exodus, Curtis tells you very plainly, God is a jealous God. He's not going to put up that stuff. And so they all fall on their face, but they fall on their face over just a long period of time. People don't see it happening to them. Do y' all know how to boil a frog?

Do you know how to boil a frog? No. Slowly you put him in water. His temperature will. He's comfortable up the temperature just a little. He's got the boil of it just a little bit more. Later on he's comfortable incomingly keep adding something. You can boil that frog. Now I don't know whether that's true or not, but it's a real good word texture. But I've heard no that that's been proven in a laboratory.

We make one minor deviation from principle that makes the next deviation easier. Well, that makes this third one easier. And all of a sudden you made a FISHER Turn 180 degrees opposite and never knew it happened to you. And that's what's happened to our world today. The world is in the grip of the maiden canes. How many all know about maiden canes?

That's all. You all need to get fighted because your life is totally controlled today by that fool. I can't classify him any other way. But who's the real fool? Maynard Keynes or people who listen to him, huh? Yeah, that's the real problem.

I remember very well in our country when Richard Nixon took us off the gold standard.

On the television he says we're all Keynesians now.

Now if I had had a brick, I'd have thrown it through the television.

Now that wouldn't have done my television any good and it wouldn't be any good either, but it would have got a little bit of frustration out of my system. But I did shout at the television, you are not talking about me.

The general idea of Keynesianism is that you can spend yourself rich. There's no way in our country, there's the QEs and the QE2s and QE3s and so forth. Qualitative. Easy now, you're no better in Canada, so they are.

I studied all this other stuff and in countries all over and the grip is there. The whole EU thing was destined to come apart because it was a stupid idea.

There's no right way to do wrong whatever. Well, that brings me to the observation that in this world that we live, have you noticed how much noise surrounds us.

Constantly? Everywhere you go, in every field there's noise.

And I think the, the financial community is the noisiest of all.

There are people who refuse to write about anything in the financial world because of that particular fact. Now, have you ever experienced noise canceling headsets by those.

Now my wife gave me these a number of years ago, my birthday.

And on long trips I don't mess with them for an hour trip like that, something like that. But you know, I use them going home next Monday.

You take those little foam.

Things and put here first and then put this thing on and then turn this switch on and that Baby crying three rows up there. There are many things I can read and so forth. I can get a lot of reading done on airplanes, so forth. Now, wouldn't it be wonderful to have a financial noise canceling headset? Hear, hear. There is no. It's not saying, but you can learn to create one yourself. Learn to recognize noise and don't spend time with it. Okay, so a little story might help out a little bit. Y' all ever heard about the cowboy and the blacksmith shop? Y' all know what a blacksmith is? Yeah. Okay. You know what a cowboy is?

Blacksmith is over there on the forge, the red hot coals. And there's a horseshoe that's red hot. He's got his tongs. He takes it off and puts it over. Anvil, equip, hammered on it shaped and such. And just a short while before that, the cowboy walked into the blacksmith shop in cowboy curiosity, walking around, picking up first one, then another. Examine it. Wonder what this is.

Well, by this time, the blacksmith is the horseshoes change the color well, and he throws it over the sand pit. Coulo cowboy got around to the sand pit.

Didn'T come to have horseshoes, threw it down.

Blacksmith says, hot, wasn't it? Trying to preserve his dignity, the cowboy says, no, just don't take me long to look at a horseshoe.

You need to recognize a horseshoe. Don't spend a whole lot of time with it. You're gonna get burnt.

There's more financial noise out there. And you gave such a wonderful testimony there a while ago, Jesse, what an education you have. Love.

She learned all about how to do it wrong, right? Well, that way you know what a horseshoe looks like now, don't you? So you know from the worst of conditions, you can get great education.