[00:00:37]Seth Hicks Esq.: Hello and welcome to Private Banking Strategies Podcast with Vance Low and Seth Hicks Vance. How are you today?
[00:00:44]Vance Lowe : I’m doing great today, Seth, how are you doing?
[00:00:47]Seth Hicks Esq.: Doing real well. Glad to bring another topic to folks that we often get, you know, broad level or high end questions of why do people do private banking strategies, why people implement [00:01:00]these strategies in their lives.
[00:01:02]Vance Lowe : Let’s, kind of dissect why we’re getting that question all the time, why people use it.
[00:01:08]Vance Lowe : One of the main reasons I’m finding out is they’re totally dissatisfied. With their money flow, they work hard, but most people feel like they’re in a rat race. What is your take on that?
[00:01:21]Seth Hicks Esq.: Absolutely, yeah. I mean, people all the time tell me, you can’t keep up with the cost of inflation. They’ve got expenditures and outflow of cash that they earn, and at the end of the month or the end of the period, they don’t seem to have, anything to show for it.
[00:01:36]Seth Hicks Esq.: And their quality of life is decreasing. And that’s a primary motivating factor.
[00:01:42]Seth Hicks Esq.: That’s why we have the very first pillar of private banking strategies is asset protection. Because when you can protect your assets, and keep what you make, you’re able to grow what you make.
[00:01:53]Seth Hicks Esq.: And in the private banking strategies system, You’re in a system that is a tax-free economy, [00:02:00]compounding and growing.
[00:02:01]Vance Lowe : What about, the asset protection side with their accounts at bank? You know, how safe are they?
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[00:02:07]Seth Hicks Esq.: Well, In 2012 in the Obama administration, they enacted what’s known as the Dodd-Frank Act.
[00:02:16]Seth Hicks Esq.: And the Dodd-Frank Act was a earthquake in the financial banking industry, and most people didn’t even know that it happened. And it was a, a planned takeover effectively of depositors money. So when you go to the bank and you deposit money into the bank, the bank. Actually controls and has that money for their own use.
[00:02:41]Seth Hicks Esq.: so long as not everybody goes back to the bank at the same time to withdraw their money, the system works okay.. But if there’s, a banking crisis like we saw recently with Silicon Valley Bank, or there’s been numerous other banks that have failed IndyMac Bank over history, and people rushed to get their [00:03:00]deposits out and, and they’re not there.
[00:03:01]Seth Hicks Esq.: Their bank lockouts and people lose money. Cyprus was a country that had bail on depositors money, which is what the Dodd-Frank Act effectively enables. It enables banks to bail in on depositors money if they’re insolvent. And the depositors are left with pennies on the dollar or with bank stock, and so neither one of those are.
[00:03:24]Seth Hicks Esq.: acceptable in my estimation. For most people, they just don’t realize it. But when they actually swallow that red pill and understand that banks actually do have the right to bail in on their deposits and that their deposits are not theirs, in the event of a banking crisis and insolvency, they come to terms with there’s gotta be a better way and there is a better way.
[00:03:46]Seth Hicks Esq.: It’s a way that’s been around for hundreds of years, and I’ll hand the mic to you for a minute to describe what that banking methodology has been for hundreds of years before branch banking hit our society.
[00:03:59]Vance Lowe : [00:04:00]Yeah, so there seems to be a huge lack of education and information in our country, but our country in the past have been known for free education and the ability to learn almost anything.
[00:04:13]Vance Lowe : When the Federal Reserve was born, they literally took over our country and We had a, young budding company that just went from nothing to a powerhouse overnight, and there was a power here and a way that the American people could excel far beyond any other nation in our history.
[00:04:33]Vance Lowe : To get to the root of that was all the way down to the individual family. Each family had enough education. So they could survive. Just think of, you know, the, uh, settlers. They could throw everything they owned in a covered wagon and go west and survive. ’cause they had the learning, the knowledge and the training to be able to do that.
[00:04:53]Vance Lowe : Part of that was all about economy. These people would have to go out, you know, sometimes they would be three or [00:05:00]four families. Sometimes it’d be a big wagon train or whatever, and they would start their own settlement, their own civilization, and they could put that together and create it and become extremely profitable, very powerful, because they understood the economics of how money worked.
[00:05:17]Vance Lowe : Or literally how to run an economy. And that is what was taken out of our education.
[00:05:23]Vance Lowe : that’s the big cause of our problems today of where people are heading. And that’s why Seth, I think you and I have dedicated ourselves to try to educate people to these seven pillars because this is the foundation of bringing people back into their own personal freedom state. So asset protection is at the top of the list. We’ve got to be assured that what we have and we hold is ours, right?
[00:05:50]Vance Lowe : The government today says, no, nothing you own is yours. That’s the way they’re treating us. But we do have deeds. We do have autonomy. We do have [00:06:00]laws protecting us as long as we, uphold those laws.
[00:06:04]Seth Hicks Esq.: The audience might be going, well, why do you have asset protection with private banking strategies? What is it and why is it asset protected compared to traditional branch banking? And so, just from a high level, your cash assets kept in a bank uh, are subject to being taken. If there’s a bank insolvency, Next, there is a federal. FDIC insurance up to $250,000 per account. And people go, well, you know, that’s my insurance policy. But when you actually do a deep dive on the FDIC and its solvency, you’ll find that it’s on the very best calculation. Balance sheet, it might be worth a hundred billion.
[00:06:45]Seth Hicks Esq.: And there are 20 trillion in cash deposits in American deposits in banks. So a hundred billion can’t cover 20 trillion. And so if there’s a catastrophic bank events and failures, the [00:07:00]FDIC will not be able to make good on those, promises to ensure. Deposits $250,000 or any deposit. And that’s not just my opinion there of other economists.
[00:07:11]Seth Hicks Esq.: There’s one, and there’s a Harvard Economist that’s published paper on that. There’s, there’s other peer review tested articles that are out there for people’s, analysis that demonstrate the FDIC is insolvent and that centralized banks can bail in on your money. So then the next question is, well, where do I put it?
[00:07:28]Midroll: Did that story feel like it was about you? Do you feel like you are generating a lot of revenue but are not moving forward as fast as you would like? Do you feel you should be making more progress toward your financial goals? Do you feel stuck? Let us help you get unstuck. Are you ready to take action and get your own private bank?
[00:07:51]Midroll: Please visit us at www.privatebankingstrategies.com.
[00:07:59]Vance Lowe : The [00:08:00]life insurance company was the financial part and Blood of America.
[00:08:05]Vance Lowe : We didn’t have banks but we did have life insurance.
[00:08:08]Vance Lowe : Back then it was, deeds, precious metals, things like that. And an agent would take care of that for a fee, and then pretty soon new companies started to form as the need arose. And the policy holders were the owners and they set up their own system, their own banking, so that they could handle that.
[00:08:30]Vance Lowe : And they stored their money in these accounts. These accounts had rock iron Cloud guarantees on a death benefit on earnings. And the availability to access your money and put it back. So they would literally self-finance everything in these contracts because they understood the economy of money. They then used their money wisely and they got it back with interest, plus the interest that it was making inside the contract. They came out [00:09:00]very, very well. These were wonderful opportunities and contracts.
[00:09:04]Vance Lowe : It was very healthy. Everybody understood the flow of money and the safe haven was the insurance companies. I bring that forward today. They carry a dispensation because these insurance companies were here up and running full blown before the IRS, and so they carry dispensations if they have, according to my understanding, if they have.
[00:09:27]Vance Lowe : Accounts if they hold their accounts at banks, which I’m, I’m sure they do, they have a dispensation that does not affect them in any way. You know, Dodd-Frank Act laws, things like that. Can that change in the future? Maybe. Maybe government can make that happen. They did come in and make one big change back in the late seventies, but that’s been it.
[00:09:49]Vance Lowe : I think even government is reluctant to do that because they know. The financial safe haven and where all the experts live are in life insurance companies, and that’s [00:10:00]where banks and governments store their safe money. As in life insurance company, so they don’t wanna disturb that. And that was the secret of America’s success. We understood how to do that, how powerful the family was.
[00:10:15]Vance Lowe : We didn’t pay taxes back then. , We made money. Government actually made a profit. Can you imagine that? Right? Instead of being a deficit of what, three or $4 trillion now they actually had a profit. back when the IRS was, was first put in,
[00:10:33]Seth Hicks Esq.: and one of the reasons that the life insurance companies, their solvency is diametrically different than centralized banks is because of something called fractionalized banking.
[00:10:46]Seth Hicks Esq.: And derivative lending and the centralized banks engage in fractionalized lending. That means when you bring in a hundred thousand dollars and deposit it in the bank, they take 10% at most [00:11:00]and keep that in reserve, and they take the other $90,000 that you just handed them and they loan it out to other people.
[00:11:06]Seth Hicks Esq.: At interest and they make money off the money that you just brought in and they don’t pay you anything. They don’t, you’re not a partner in that. You don’t get any interest payments, you don’t get any dividends from that bank. In fact, you get fees and you get, you know, hassled when you want to get your money out.
[00:11:22]Seth Hicks Esq.: That’s called fractionalized banking and derivative lending. Insurance companies cannot engage in that. They’re regulated state by state, not by the federal government, and they all require a one-to-one cash reserve. So they have to have complete liquidity for death benefits, complete liquidity for, your money When you come to get your money, say, Hey, I want my money wired here.
[00:11:44]Seth Hicks Esq.: It’s there. And so. we don’t have any trouble, getting money out of banks. They don’t ask questions from your life insurance company, rather, they don’t ask questions when you. Pull your money out. They don’t ask questions for purpose of funds or any type of financial [00:12:00]prying, like your typical banks do nowadays.
[00:12:03]Seth Hicks Esq.: one of the cornerstones, like we said, asset protection and we kind of dived into that and.
[00:12:08]Seth Hicks Esq.: Discussed how the difference between centralized banks like Wells Fargo, bank of America, chase, JP Morgan Chase, all of these big box banks or even other banks that are regulated by central banking policies, operate on derivative lending, whereas your life insurance companies, they don’t. And so your money is safe there and fully accessible and , without questions.
[00:12:32]Seth Hicks Esq.: So once it’s in. That system Vance, the, the private banking strategy system within a whole life insurance contract that we structure in a very particular way is, are there any taxes on the, the money in your life insurance contract?
[00:12:49]Vance Lowe : This seems to be an unknown factor that I’ve always grown up with, and most people don’t know the answer to this question, but the answer is no, it is [00:13:00]not taxable.
[00:13:01]Vance Lowe : The gains inside the contract are tax. We’re gonna call it taxed advantaged. The IRS will try to go after anything they think they can get away with. The law says that money inside the contract, it’s not reportable. The insurance companies do not file any form with the IRS or do anything of that nature.
[00:13:25]Vance Lowe : If we’re following, you know, certain modern day guidelines, that money is literally. Just private. Nobody knows where it’s at except the life insurance company and you. So the gains on it and there’s a guaranteed rate of return that is not taxable. You can pull that out totally tax free. You can figure out a way to make it taxable after you’ve pulled out your.
[00:13:48]Vance Lowe : Basis, we’ll call it. In addition to that, you get profits of the life insurance company and what that profit is, it is a return of premium and that is not taxable. And [00:14:00]again, uncle Sam or the IRS will say, well, there’s gotta be a point where we can start robbing you again. And yes, there is, but then these contracts have another key feature that stop that dead in the water.
[00:14:15]Vance Lowe : You can borrow the gains out loans are not taxable and you figure out a formal there. You know, I’ve got lots of people in full re retirement living off of their policies, living off the income their policies provide, and absolutely no taxes whatsoever. So yes, you gain privacy and tax freedom. We call this, The money going into this contract is after tax, so we’re paying tax on the money, on, on the premiums that are going in, but the volume of growth is the harvest. So the seed is what we paid tax on the harvest coming out. All this growth totally. Can be non, non-taxed.
[00:14:59]Seth Hicks Esq.: Right? [00:15:00]And, and, and it’s actually the Internal Revenue Code 77 0 2, which specifies that these contracts are are not taxable.
[00:15:09]Seth Hicks Esq.: That’s why the ultra wealthy politicians and politically elite use these for that tax benefit. Like I said, internal Revenue Code 77 0 2 says that the money once inside the policy is not taxable, so the insurance companies don’t raise their hands and, file, uh, 10 90 nines or w twos or any type of tax form, and it’s a financially private transaction.
[00:15:35]Seth Hicks Esq.: So what we’ve been talking about with asset protection and tax-free economies within your private banking strategies is a fundamental cornerstone. Of why people choose to implement these strategies.
[00:15:48]Seth Hicks Esq.: And In The meantime, if you, you’re waiting for the next publication, you wanna learn more about it, you can do that folks on our website at , private banking strategies.com. [00:16:00]It’s private banking strategies.com and there you can exchange your email for a red pill book that Vance and I have written the titled What The Banks Don’t Want You to Know.
[00:16:10]Seth Hicks Esq.: And therein you are gonna discover some, some concepts and some ideas like we’re talking about here that may revolutionize your whole thinking. If that resonates with you, continue to listen to the podcast, continue to, to digest some of the information that you’ll get by email, and eventually if those things are, are resonating with you and making sense, we want you to set up an exploratory call with Vance and you can do that through links that we provide and emails, and that’s really our process for walking people into private banking strategies . [00:17:00]
