Episode description
This podcast episode, from the Laura Murphy Show, introduces the infinite banking concept (IBC) as advocated by Nelson Nash in his book “Becoming Your Own Banker.” Hosts Robert Murphy and Carlos Lara explain that IBC utilizes dividend-paying whole life insurance policies not primarily for death benefits, but as a personal banking system to finance major purchases without relying on traditional lenders. They emphasize that this approach aligns with Austrian economics, as borrowing against one’s policy does not contribute to inflation. The episode also directs listeners to resources for further learning, including Nash’s book, a book by Murphy and Lara integrating IBC with Austrian economics, and a practitioner finder for qualified financial professionals.
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