In this episode, we discuss the differences between Austrian economics and Keynesian economics. And will explain how you can use infinite banking to break free from the money manipulation of the Federal Reserve.
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In episode 36, we covered hyperinflation, cryptocurrencies, infinite banking, and how all of them go hand in hand. And we talked a little bit about economics.
Today, we're going to go deeper into Keynesian economics and Austrian economics. Which ones better? Which one presents the greatest benefit for you and society as a whole? And we'll even examine how infinite banking applies on a grander scale of economics.
"I like the simplicity of the fact that in Austrian economics, one dollar is one dollar. If you don't have the dollar to represent the dollar, then you don't have a dollar."
"In Keynesian economics, you're essentially saying a dollar isn't necessarily just one dollar. Most of us would say its kinda funny money."
"The main difference between the two is that the Keynesians believe that there should be an authority manipulating the market, whereas the Austrians believe the market should be free and in control."
"We say, a dollar today is stronger than a dollar in the future, just because of inflation and the economy."
"You can break free from the system, and if we get enough people to really be their own bankers, we may be able to, in the grand scheme of things, kind of cripple this Federal Reserve system."
In this episode, we will discuss the power of using your imagination with your money. And we will deep dive on outside the box thinking that almost always produces better results than doing what everyone else is doing.
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This is a topic that rings true for us and our podcast. You see, there are reasons why like outside the box: Typically, things inside the box don't always produce success. And using the average strategies and tactics will end up netting you status quo finances.
As the tagline of the show states, if you follow the heard you will be slaughtered. The average person goes along with what the crowd is doing without question. And they don't put much thought into it. They relinquish their control to an idea that it will all work out in the end. It has to; everyone else is doing it, after all.
We challenge those beliefs and arm you with the knowledge to question conventional wisdom today.
"There are reasons why like outside the box: Typically, things inside the box don't always produce success."
"Most of us do a 401K, not because we necessarily believe in it, but because everybody else is doing it. Instead, start asking the question, "Why are you actually putting money into a 401K?""
"I've heard people verbatim say this: "We thought we were doing everything right." It turns out it wasn't enough or some extenuating circumstances took it away from their retirement."
"You have to realize when you put your money even in a 529 program it limits you on what you're able to use it for, and it also can hinder even your kids and their financial aid in going to school"
"Don't be afraid just because nobody else is doing that, that you're wrong. Think outside the box and question the status quo."
"There can be times when it makes sense to use other people's money, whether it's a HELOC or other ways. A lot of people are so locked into trying to get to where they don't owe anybody anything, which is a good goal, but you may be letting the nickel hide the dime."
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