{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Why You Don\u2019t Need $20 Million to Start Your Own Bank (Ep. 246)","description":"Most people assume you need $20 million, a bank charter, a building, employees, and 10 years before a bank ever makes a profit. &amp;nbsp;But Nelson Nash reveals a far simpler way to create your own banking system, one that\u2019s been quietly working for over 200 years. \ud83d\udc49 Follow Mary Jo Here: https:\/\/www.youtube.com\/channel\/UCXYvzroUouEMsTGKFw5nJHQ&amp;nbsp;  \ud83d\udc49 Get the book: https:\/\/www.withoutthebank.com\/book\/&amp;nbsp; In this episode, we break down how traditional banking REALLY works, why starting a bank is nearly impossible today, and why participating whole life insurance already has all the infrastructure you need to start your own personal banking system. If you\u2019ve ever wondered \u201cHow does Infinite Banking actually work?\u201d this chapter explains everything. \ud83d\udd11 Key Takeaways \u25e6 Why real banks require $20M+, a charter, and years before profitability \u25e6 How whole life insurance mirrors the structure of a bank \u25e6 Why capitalizing a policy is like capitalizing a business \u25e6 The BIG misconception about borrowing against end of life benefit \u25e6 How improper loan repayment can destroy your banking system \u25e6 Why new or startup life insurance companies are risky \u25e6 How dividends represent \u201cexcess energy\u201d inside a mature insurance system \u23f1\ufe0f Chapters 00:00 \u2013 Why Starting a Bank Takes 10+ Years 01:25 \u2013 Bank Charters, Capital &amp;amp; Liquidity Requirements 03:36 \u2013 How Life Insurance Companies Already Did the Hard Work 04:49 \u2013 Deposits, Loans &amp;amp; How Banks Really Operate 06:32 \u2013 The Midland, Texas Bank Failure (and the Lesson) 08:25 \u2013 Why Whole Life Is the Easier Banking System 10:21 \u2013 The Hidden Costs of Starting an Insurance Company 11:52 \u2013 Dividends Explained Through the \u201cEnergy\u201d Analogy 12:41 \u2013 Is Infinite Banking Right for You? \ud83d\udcd8 Want to Learn Infinite Banking? Grab Become Your Own Banker and follow along chapter by chapter. \ud83d\udd17  https:\/\/www.withoutthebank.com\/produc... Have questions? Drop them in the comments \u2014 we answer every one. \ud83d\udd17 Links Mentioned \ud83d\udcd8 Become Your Own Banker \u2014 Nelson Nash \ud83d\udc49  https:\/\/www.withoutthebank.com\/produc... ","author_name":"Without the Bank Podcast","author_url":"https:\/\/withoutthebank.com","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/39258605\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/content\/196168185"}