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Recently, I have devoted considerable time discussing the concept of human-like value and delving into the devaluation of the U.S. dollar, as well as the escalating levels of debt at both the government and consumer levels, including household debt, which has reached an all-time high. Various factors are at play, and ultimately, I believe that we are facing a cultural issue.

Numerous financial pundits, such as Dave Ramsey and Suze Orman, along with a myriad of others, share diverse opinions. However, I believe it's undeniable that our economic situation in the country is currently more precarious than ever, particularly since the establishment of the Federal Reserve in 1913.

In this article, I aim to delve into various aspects of our culture, discussing topics such as life insurance, savings, mindset, and the way we manage our finances. I will draw connections and correlations to illustrate why I consider life insurance to be a crucial component of our country's financial framework. I hope that as I explore these ideas, they will resonate and provide a clearer understanding. Feel free to engage in the comment section below if you have any questions.

We're delving into the concept of human life values. Recently, I took the time to explore the book "Pirates of Manhattan" by Barry Dyke. If you haven't read it yet, I highly recommend getting a copy as it is a rich source of information. This book essentially reveals the workings of the Wall Street cartel, exposing how they control not just their money but also Main Street's money. It sheds light on their practice of shifting and taking risks with your money, while simultaneously ensuring the safety of their own funds through insurance companies.

This book, by the way, was written right before the Great Recession in 2008 and it proved to be true in a lot of ways. He's written a follow-up book to this, which is "The Pirates of Manhattan II: Highway to Serfdom", which had a lot of amazing additional information that followed the Great Recession. I was reading this book while watching a video featuring Dave Ramsey and an infinite banker that I'm actually gonna be filming a reaction video. So if you wanna see that, make sure you subscribe to my Youtube Channel LIFE180. You're gonna get notified. I'm gonna launch that video.

I watched a debate between him and an advocate of infinite banking, and it was honestly quite disappointing. The proponent of infinite banking did a subpar job, and I understand why Dave Ramsey chooses to publicize these videos, targeting individuals who struggle to defend their positions. I plan to react to that video and present my perspective. One of the motivations behind this is that I was reading a book discussing how banks use whole life insurance as a Tier 1 foundational asset.

Disturbing Trends in Life Insurance Statistics

While perusing the pages of this book, I came across a statistic that is not only alarming but also remarkably in line with something else. I've been contemplating a concept that involves human life value, our economy, and pondering the trajectory of our country. The statistic I found is, to say the least, quite disconcerting.

"Pirates of Manhattan" by Barry Dyke.

Examining the timeline, we can observe key points such as 1940, a period marked by World War II. The 1950s and 1960s were relatively prosperous times for our country. However, a significant shift occurred in 1971 when we departed from the gold standard, leading to a cultural decline. Values began to erode, and there was a departure from the core family values.

Moving into the 1980s, particularly the late 1970s and early 80s, the creation of qualified plans prompted a shift away from life insurance companies. People were influenced by misleading marketing, convincing them to allocate more funds to investments and move away from the safety of life insurance.

In the timeframe spanning from 1977 to 1981, a significant governmental shift occurred. The Defined Benefit program was phased out, marking the transition from the pension system to the retirement planning system we recognize today, encompassing 401(k)s, IRAs, and qualified accounts. This move signaled a departure from relying on insurance companies as a foundational element in our planning. It's important to note that traditionally, insurance companies managed pension plans.

The shift redirected control towards the banking system and private investment and equity firms. In my view, this period represents a substantial power grab, as it was a pivotal time. While the shift began slightly before this window, the 1970s marked a gradual decline.

Declining Trends: Life Insurance Sales at a 33% Per Capita Decrease in the Last 70 Years

In 1940, the total US population was 150 million, with new life insurance purchases reaching almost 18 million, constituting nearly 12% of the total population buying life insurance. Consider this from the perspective of values, what did people believe life insurance was for? The purpose was to provide safe, liquid, accessible capital for individuals.

This was a common practice back then. It's disheartening that in the current era, individuals like myself find it necessary to re-educate people and advocate for a return to this traditional financial strategy. Often, people perceive the concept of utilizing life insurance in the way we promote as something new. However, it only appears that way due to the influence of social media and the rapidly changing landscape of the world.

At the end of the day, what we're advocating for is not a new concept. While terms like infinite banking, cash flow hacking, cash flow banking, becoming your own banker, and bank on yourself may give it a contemporary flair, the core idea of using whole life insurance in this manner has a historical precedent. It has been a longstanding practice. The reason we now emphasize and market it in this way is because it fell out of favor.

Fortunately, we have platforms today that allow us to break away from the mainstream marketing machine found on channels like CNN, Fox News, NBC, and ABC, which often steer individuals towards mutual funds and shape their financial mindset. There's no denying that the financial outcomes and standard of living resulting from planning and retirement strategies employed between 1980 and 2004 have been far from ideal.

Impending Crisis: Signs Pointing Towards Failure in Our Financial System

The introduction of 401(k)s in 1980 coincided with my birth year. As I reflect on this and examine the current results, it becomes apparent that for the first generation relying on whole life insurance as their primary source for retirement income or saving and investing for retirement, the outcomes have been a catastrophic failure. An alarming 95% of individuals approaching retirement lack sufficient funds to maintain their standard of living. This statistic is deeply troubling.

When I analyze these figures in a cultural context, in 1940, almost 12% of people had purchased new life insurance. This figure increased to 13% in 1950 and remained at around 11.5% in 1960, which are positive numbers. However, by 1970, there was a noticeable decline to 9.127%. With the advent of the marketing machine promoting 401(k)s and qualified accounts, this downward trend continued, reaching 7.5%, 5.7%, 4.7%, and finally, 4.28%.

I strongly believe that if every individual were born with their parents purchasing a permanent life insurance policy for them, it would make a significant difference. This conviction is one reason I find it challenging to agree with Dave Ramsey's perspective, and I plan to address this in an upcoming video reaction. Ramsey often dismisses the idea that the Rockefellers, a widely admired financial family, use whole life insurance.

Contrary to his claim, I recently had a conversation with Garrett Gunderson, author of "What Would the Rockefellers Do?" In this discussion, Garrett mentioned that the woman overseeing the Rockefellers' family office affirmed that they indeed use whole life insurance as a key foundational component of their family structure. I don't think this is a mere coincidence.

The Potential Role of Life Insurance in Rescuing Our Economy

Looking at the reduction in the percentage of the total population owning life insurance, which plummeted to 4.28% in 2004, based on information from Barry, it serves as a microcosm of our culture and country. This decline reflects not just a lack of financial education but also a deficiency in financial stewardship, legacy planning, and a failure to recognize our responsibility to leave a solid financial foundation for the next generation.

Barry, if you're reading this, I'd love to have you back on the show to discuss this further. Your insights are valuable, and I believe a deeper exploration of this topic could benefit our audience.

When Dave Ramsey advocates for term insurance, it's important to recognize that term insurance has its limitations. It eventually expires, making it a relatively short-term solution. While I appreciate term insurance and believe everyone should have it, it can be seen as a somewhat self-centered approach. The intent is to maximize coverage for the least cost, a strategy focused on getting the most value for the least price.

However, life doesn't often operate on the principle of obtaining the best value for the lowest cost. Actuarial considerations play a significant role in insurance, meaning the cheapest term policy might come with reduced benefits, a shorter coverage period, and other factors that may not be in your best interest. It's crucial to approach the decision to purchase term insurance with common sense, weighing the benefits against the cost and ensuring that the chosen policy aligns with your long-term objectives.

In developing a comprehensive plan for our financial strategy and legacy planning, it's crucial to consider the steps we can take. Reflecting on the period from 1940 to 1970, it becomes evident that this was the peak era for whole life insurance, coinciding with a time when our country's financial stability reached unprecedented levels. It was an era marked by productive value, significant contributions, and various cultural elements that shaped our nation positively.

While acknowledging that some may disagree with this perspective, asserting that we've experienced growth and change, I recognize and respect differing values and opinions. It's essential to honor the diversity of viewpoints and engage in constructive discussions about the path forward.

Don't Focus On The Government - Focus On What You Can Do For Your Family

As I examine the statistics, comparing 2004 with 4.28% to 1940 with 11.865%, it's disconcerting to note that even though our population has nearly doubled, we have fewer people with life insurance now. In 1940, with a population of 150 million, there were 17 million policies, while in 2004, with around 300 million people, there were only 12 million policies. This trend suggests that many individuals have been led to believe they can depend on the government for their well-being.

I firmly assert that we have a responsibility to take care of our families rather than relying on the government to do so. Addressing the increasing household debt, embracing life insurance as a safeguard becomes a crucial way to ensure our families' financial security.

I am passionate about what I do, teaching and preaching what I believe in, because I see an opportunity for change. While some may feel that the situation is too far gone, I firmly believe there's still a chance. It might be a bit late for government interventions, but that's not where our focus should be. For those who get anxious about global affairs, the world's reserve currency, government actions, debt, and politics, it's crucial not to let that overwhelm you. Instead, concentrate on what you can control and the positive changes you can make in your own financial sphere.

I can attest that I used to invest a considerable amount of time immersing myself in political thoughts. However, I've come to realize the importance of focusing on what we can control within our own micro-economy. It's about managing our individual ecosystems and making the best decisions for ourselves. If we're part of the 95.72% of people without life insurance, it's logical to anticipate aligning with the results of that majority.

The correlation between the 95% of retirees unable to maintain their standard of living and the 95.72% of people without life insurance doesn't seem like a coincidence. It speaks to the influence of culture, beliefs, values, and where we allocate our attention, money, and energy.

I hope you found value in the discussion, and that it resonated with you. If you have any comments or questions, please feel free to share them in the comment section below. Until next time, have a blessed and inspirational day.