Imagine being able to steal untold millions of dollars in plain view without getting caught. Impossible you say. Be careful because you are most likely a victim of this heist. In fact, you may actually be giving these thieves referrals so that they can dupe your friends and family.
For a while I was not aware of how the scheme worked. It was after talking to someone who was in on it that I got to see the entire operation at work. I have to say it is quite an elaborate conspiracy. It involves so many people. I couldn't believe I fell for it for so many years.
Here's how the scheme works. You go in to a bank to open a savings account. The bank representative smiles and says pleasant things to you because you brought your money to them. With a big smile the bank representative tells you that you should be happy because you will be earning 1% on your money (if you're lucky). Trust me when I tell you, the bank representative's smile gets bigger after you leave. You'll see why a little later.
You go home feeling pretty good about yourself because you have finally started working on your financial independence. Good for you! It is definitely a start. The question becomes is it what you were really looking for. Don't get me wrong everyone should have a savings account. But a savings account by nature is not designed to make you money. In fact it won't save your money either. That's right you read it correctly. A savings account will not save your money instead it will help slow down your spending.
Naturally you may be asking yourself how can a savings account not save my money? Here's the answer to this question. A bank pays you 1% interest on your savings account and the government guarantees your money. Meaning that if the bank should go out of business the government insures you that you will get your money back up to $100,000.
A further look reveals just what the bank and the government are guaranteeing you. The bank pays you 1% interest and inflation eats away your money at 3% per year. Inflation simply means that your money will buy you less than what it bought you last year with the same money. So in other words the bank and the government are guaranteeing that you will lose at least 2% of your savings a year. This figure is arrived at by the 3% you are losing to inflation and the 1% interest paid to you by the bank, which means you are only losing 2% a year. That is until you figure in the taxes you have to pay on the 1% interest the bank paid you. However, we won't talk about the taxes in this scenario.
The bank will start sending you credit card offers. You know the offers I'm talking about. The credit card offers where you can transfer your balances for 0% interest for the first 6 months. After the 6 months is over your interest rate goes up to around 9% or more. They also offer to give you other loans for 10%-12% interest. I know you may be thinking well when the 6 months of 0% interest is up I will switch to a different offer from another company. I hope you will.
Part of the heist is banks pay you 1% interest when you give them money but they make you pay them 9%-12% when you borrow your money back. Remember the money is not the bank's money it is your money or another member's money. Now this part will really make you upset. Banks take your money and invest it in things such as commodities and make returns of 20%-50%. And then when you asked for it back in a loan they charge you interest. So banks can make a profit from 29%-62% on your money. When you factor in the fact that most people continue to borrow money over and over again the profits for the banks skyrocket.
After learning how the banks used my money to make themselves rich I decided to use my money to help make me rich. I now teach others how to create financial freedom for themselves.
Now that I have revealed the biggest heist in history I am tasking you with finding a way to make your money work for you instead of working for the banks. Sign up for my newsletter at www.themoneymotivator.com to learn how to put your money to work.
Much More Success,
David
? Copyright David D. Wells. This Newsletter and all contents are proprietary products. All rights reserved. You are welcome to forward the entire Newsletter to anyone interested. The entire Newsletter including this signature box must be intact.
Often referred to as The Money Motivator, David Wells is passionate about helping people "crack the wealth code" to become money magnets. Let him teach you the techniques Hillary Clinton used to turn $1,000 into $100,000 in the course of a year.
For more information visit his website at http://www.themoneymotivator.com
cleaning service near Bannockburn ..Financial independence is having the freedom to support yourself through... Read More
Feng shui coins can allow you, among other things, to... Read More
Is the ghost of "Money Past" haunting you? Do you... Read More
Now is a great time to make it a habit... Read More
As a woman Netpreneur, I sat down via e-mail with... Read More
To lose weight in the 80's, we went on low-calorie... Read More
Every day you work is one day closer to your... Read More
Masters degree not required...just a little common sense, a $5.00... Read More
The rewarding of high compensation packages to top executives who... Read More
U.S. Supreme Justice Louis D. Brandeis"I live in Alexandria Virginia.... Read More
If you're wondering where to create passive income, then you... Read More
For most of us, the idea of retiring simply on... Read More
1) Pay off your loan, credit and store card debt... Read More
Let's begin this lesson with a definition of the term... Read More
Some people in this world are thinking that their poor... Read More
No matter what income level you are currently at, generating... Read More
Feel like a lemming lately? Ready to follow the crowd... Read More
How many people search Google, Yahoo and MSN each day... Read More
How Much Money Will I Need to Earn to Retire?This... Read More
Why is it that the older and richer people become,... Read More
The inability to come up with the necessary cash when... Read More
Wealth - an abundance of values. Each of us determines... Read More
Points to ponder as you consider what can be done... Read More
The vast majority of working people are in debt. The... Read More
This new way is catching on around the world. People... Read More
pet-friendly home cleaners Mundelein ..Turn to the year 1999, a couple of friends sitting... Read More
The inability to come up with the necessary cash when... Read More
I want to share an experience I had in common... Read More
Everyone dreams of early retirement. The idea of no longer... Read More
Despite what you may have read or heard, anyone is... Read More
Planning for the undesired, accidents and possible unknowns in life.... Read More
How many people search Google, Yahoo and MSN each day... Read More
Feel like a lemming lately? Ready to follow the crowd... Read More
The vast majority of working people are in debt. The... Read More
Estimated Reading Time: 4 minutes -- Envision your life 10... Read More
You have probably heard other people say that "Money isn't... Read More
Many people don't realize how much money they spend on... Read More
Results from a new tool developed by UK based firm,... Read More
1. Save up to 50% per month on convenience cleaner... Read More
AS THE MARKET FLIES HIGHER, GOOD BUYS ARE BECOMING HARDER... Read More
You have $100 in your bank account, your rent is... Read More
Perhaps the primary message of Rich Dad, Poor Dad is... Read More
So you want to become wealthy? While there is no... Read More
Money can be your servant or it can be your... Read More
When I was a student in London, I had a... Read More
Living on credit is fashionable. Indulging oneself is fashionable. Saving... Read More
The business of banking has changed dramatically over the last... Read More
Here's the truth: I have read hundreds and hundreds of... Read More
Six out of six people who were asked to list... Read More
You've been thinking that your financial life could probably be... Read More
Wealth Building |