Jayson Lowe explains why every spending choice is a financing decision. He invokes Nelson Nash's rule to capitalize wealth, warns that others will try to access what you save, and argues conventional banking puts control of your money with institutions instead of you.
Every decision you make is a financing decision. You're either paying someone else for the use of their money, or you're giving up the interest that you could earn when you spend cash. If this infinite banking concept is so good, why doesn't everybody do it? That's a great question. And I think it's because.
One of the things I get from what Nelson said and that practice of paying yourself even a higher rate, it's about capitalization. And one of Nelson's five golden rules was, don't be afraid to capitalize. So with that, we're going to get into the problem. Now, why would we want to know about the problem? Nelson discovered this concept because he had a problem. And through that, he realized that all of us, the way we were banking, there was a problem with that. But we're going to spend a little more time thinking about interest. Every decision you make is a financing decision. You're either paying someone else for the use of their money, or you're giving up the interest that you could earn when you spend cash. So let's just get into this problem just a little bit more. One of the things that Nelson said, and it's true, wherever wealth resides, someone's going to try to steal it. Whenever I see this quote, I think, oh, Willie Sutton. And if you don't know who Willie Sutton was, he was a notorious bank robber. And when Willie was asked, say, Willie, why are you always robbing banks? He goes, well, that's where the money is. And that's really what Nelson was getting at. When you build wealth, someone's going to try to get at it and steal it. Now, I'm going to give you a bit of an example how that can happen today. And this may or may not resonate with you, but it resonates with me. This was a quote that came from one of our political leaders back in 2020. We're into the pandemic, and already Canadians are saving lots of money. And one of our politicians say, hey, we can solve the problem in our economy with that $150 billion that Canadians have saved. And I don't know how that makes you feel. Just going, whoa, that's kind of sending me a message. We all know what happened, you know, during the pandemic, how the deficit went up. And this is just a snapshot from early on in a pandemic. So you can just imagine how much debt this country's taken on, country of Canada, since the pandemic started. Well, I don't know how that makes you feel, but it makes me wonder, where's that? Well, how are we going to pay that back? Where is that coming from? And so even our own friends in government think about ways and how to get at our money. So that's just one example of that, you know, going back to what Nelson said, wherever wealth resides, someone will try to steal it. So there's just more articles here. And it's like, you know, our government had given themselves all kinds of authority to raise taxes even without having parliamentary approval. Kind of spooky. Who is the banker in your life today? Now, I think we're all pretty familiar with how banking works. You earn an income, so you get paid. And now everything's pretty much done electronically, right? So as soon as you get your paycheck, bang, your income is deposited. Where? And I don't even think it's possible to change this because there's really not an option for you to do anything but put your money in through electronic means these days into someone else's bank. And one of the things I just wanted you to understand, when that happens, banks are great. They have a great business model. They don't let that money sit there. They put it to work right away. That's right, they put it to work. And yeah, you can access part of that. And when you need to pay things like bills, that's what you do. You go in and access the money that the bank has on your behalf and you pay those bills. So really, when you think about it.
You'Re doing all the work, but someone else is getting your money. That's right. Someone else gets your money. And the way that we bank conventionally, right away, they get control of your money. So how does that make you feel? That's always a great question. And one of the things I wanted to share with you. I don't know if you know Jim Carrey or not, but this is how it can potentially make you feel just a little bit. Oh, really? That's what's happening. So a great quote that I wanted to share with you today comes from Garnet Gunnerson. Now, if you don't know Garnett, he's wrote some great books. One's like what would the Rockefellers do? Another one is killing sacred cows. And it's all about myths in the financial world. Now, Garrett made this quote and I just love it. And it just makes you think. And, you know, that's kind of a key thing. If the minority of people in the world control and accumulate all the wealth.
Why do we all just do what the majority does you ever ask yourself, why do we conform? That's really a big issue when it comes to how we deal with money. We conform to what the majority of people around us are doing. And yet all kinds of examples out there of that minority. And people always ask me a question. They say, if this infinite banking concept is so good, why doesn't everybody do it? That's a great question. And I think it's because, hey, they haven't. They don't understand what the opportunity is for them. And when you think about why isn't everybody rich like Warren Buffett or, you know, Bill Gates, why is it that there's that minority of people that have such a big chunk of the wealth in our world out there? Well, they put the work in and, you know, they figured out how to do it. So one of the things I tell people when it comes to this process, find someone that's doing it and learn from them. That's why you're here today. That's why I just, you know, glad to be see you here and just congratulate you on trying to make a difference in how you're doing things from the way you used to do it.
