In this episode, we discuss the effects of hyperinflation on Infinite Banking policies. We also dive into the rise of cryptocurrencies and how you can remain flexible to navigate the issues that are on the horizon.
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Hyperinflation, in a nutshell, is when a country's currency becomes devalued. And people lose trust in the money, consequently.
We've seen hyperinflation in the US to a certain extent back in the 1980's. But we've never experienced anything like what took place in Zimbabwe here in the US.
Some other countries, like Zimbabwe and the Weimar Republic, experienced hyperinflation to extreme levels. These are instances where the peoples of those countries were forced to carry around millions of dollars to fill up their cars with gas, sometimes trillions of dollars to do anything. So this is an almost foreign to us.
The problem starts when a government decides to print more money. That's the number one cause of inflation: the increase in money supply. Just like anything in the world, when supply goes up, typically the price goes down. The same thing happens with money.
When the money supply goes up, the value of the dollar becomes less; especially when other countries start to stop accepting the money. Then it can go out of control. This is when hyperinflation is experienced: Rapid inflation.
This inability of governments to 'help themselves' can be said to be one of the contributing factors of the rise in popularity of cryptocurrencies.
The big question here is this: What impact does all this have on IBC policies?
We answer all this and more in this episode.
"Hyperinflation is when inflation hyperinflation happens rapidly."
"Many of us think, "We're in a hyperinflation state," yet we honestly don't know what it is. I would say we're totally headed there, absolutely, 100%."
"The world is seeing that the governments entrusted with controlling the money supply is a dumb idea. So, that's why the cryptocurrencies are a thing."
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In this episode, Ray Poteet is back to share the Infinite Banking History with us. Ray's also going to be telling us exactly what he has done over the past 17-years with Infinite Banking. And he'll open up about the wealth that's been created by following the principles taught through these concepts.
~ Access our FREE Infinite Banking Beginner course here:
https://livingwealth.com/beatinflation
~ Get resources and transcripts from this episode by visiting:
"As I read the book I became very, very upset. Not upset with the book, but upset with my industry. Why had it had not shared Infinite Banking with me?"
" We went through twenty-six cars in twenty-five years... if I had the ability to use my policies on all of those cars, I would have $323,000 that I didn't have now."
"all of a sudden I thought, "Well this would work for a vacation. This would work for an addition to the house, this would work for new furniture. If I had known this.""
"one thing I've noticed at my age is a lot of people are concerned about running out of money. I can tell you I do not have that fear today."
"Not that it's unhealthy to be a penny pincher but it really turns off the stimulation and kills your dreaming if you're worried about money all the time. You're not as productive or as creative."
"your money's not locked up and you're thinking differently."
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