BBig Be Your Own Banker
by becoming your own bank, you will turn your liabilities into a new asset.
WARREN BUFFET'S TWO RULES TO MAKING MONEY:
1. NEVER LOSE MONEY
2. NEVER FORGET RULE NUMBER ONE
1. We need to stop our money from going through the revolving doors of the bank. Opportunity cost is always won or lost by someone, now it’s time for us to be on the winning side.
2. Understanding the banking system: money must move through the financial
system just like blood has to move throughout our bodies. If it doesn’t, what
happens? In the banking system this is call the “Velocity Banking”.
3. What is Velocity Banking? It is the measurement of the number of times that the average currency is used. T his means that money cannot sit, or the financial industry becomes stagnant and dies.
4. Banks can leverage our money up to 90% every time meaning that they are able to make 9000% off our money.