Mike Dillard, founder of Elevation Group, premiered his new investment program via Internet December 13. The purpose of the Elevation Group is to teach its members how to become rich and take advantage of the upcoming economic collapse.
During the 90 minute Elevation Group presentation, Dillard made a comparison between the Roman Empire and the United States, stating that we must “learn from history.” Using Michael Maloney’s seven stage progression of currency, Dillard discussed similarities between the U.S. and Rome for each stage. He forecasted that the United States would follow the demise of its economy, just like the Roman Empire.
Maloney’s first stage is when the country is founded or funded with gold. Both the United States and Rome had a strong gold foundation in the beginning.
The second stage begins as the country develops multi layers of public programs for its citizens. The third stage is when the nation begins to establish political influence in the world, and as a result, a military is established and bankrolled by the national administration.
Dillard describes the fourth stage, as the time the nation begins to use its military, and the cost amplifies. The fifth stage is the waging of war. Due to the great cost involved, the national currency is created in unlimited and unsecured amounts. The sixth stage is where the expansion of the currency causes severe inflation. Society loses faith in the currency.
Dillard describes the final stage of Maloney’s progression of currency as when the nation abandons the currency, and returns to a system of bartering or using precious metals, (such as gold) again.
Dillard claims, the United States is now positioned between the sixth and seventh stages. He predicts that in the next 6 to 36 months, the country will move into the final stage. The Elevation Group has been developed by Mike Dillard to help individuals prepare for the collapse of the United States economy, and to position themselves to use this event as a wealth building opportunity.
More Information on how to become rich and take advantage of the upcoming economic collapse is available in this 90 minutes presentation .
Mike Dillard’s new program “The Elevation Group” is already receiving an incredible amount of hype but is it really worth the cost or is this just another slick marketing tactic praying upon harsh economic times? Read my review before you decide to buy it!
If the current economic hardships haven’t directly affected you, then I guarantee you know someone it has.
The way people think and act in regards to finances has changed greatly in just the last few years as we have seen retirement funds lost, houses foreclosed on, and bankruptcy affect the lives of so many hard working people.
What does all of this have to do with The Elevation Group? Everything!
Mike Dillard is an innovator who has made a very good living for himself seeing where the future is headed, and beating everyone else to the punch.
When he sees the slightest bit of sunlight peaking through a profitable niche, he wedges that crack wide open and creates a title wave of excitement.
There has never been a better time than now to invest in your own self-development and success, but I’m not endorsing this program yet!
It is very easy for people to use the downturn in our economy to elicit fear and promote the purchasing of a product that will enable you to protect yourself with some “secrets” that only a select few know.
Mike does however, make some very valid points and gives some great advice in his free report that have me highly intrigued and excited to learn more.
In order to become financially successful, continuing your education about the trends of the economy and what you can do to protect yourself and rapidly grow your wealth at the same time, is always a great thing.
I encourage you to use your own judgment and decide for yourself whether or not The Elevation Group is right for you.
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‘End of Liberty‘ is now out. This is the most important film you will ever see.
Please spread the word about ‘End of Liberty’ to everybody you know on this Halloween day.
This movie was made possible by all of the thousands of warning signs that were submitted to us by thousands of NIA members. It is very important for millions of Americans to see this movie. It is the only way we can prevent America from seeing a complete societal collapse!
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~ Robert Kiyosaki ~
On the cover of the October 19, 2009 issue of “Time” magazine ran this headline: “Why It’s Time to Retire the 401(k).” The cover picture was ominous, showing a 401(k) sinking like the Titanic.
I recommend reading this entire article, especially if you do have a 401(k). My concern is that the flaws of this retirement plan will grow into personal tragedies as the first of approximately 75 million baby boomers retire, leading to the biggest stock market crash in history.
But in spite of the apparent problems with the 401(k) plan, the darlings of financial media continue to tout its benefits. The same month “Time” ran its article, “More” magazine’s financial guru, Jean Chatzky, wrote an article about using low-interest savings to pay off high-interest credit cards. In the article she states, “There’s no better guaranteed return on your money (except, perhaps, a 401(k) match).”
Countering Jean’s wisdom of “no better guaranteed return,” the “Time” article stated, “At the end of 1998, the average 401(k) balance was $47,004. By the end of 2008, the average balance was down to $45,519.” If that is a great guaranteed return, I’m glad I don’t have a 401(k). The “Time” article pointed out that $100 in 1998, after inflation, was worth about $73 in 2008, a loss of $27 after ten years. So whom do you believe…”Time” or “More” magazine?
If you are unsure as to whom (and what) to believe, the “Time” article made two more statements worth considering. They are:
1. “The older you are the riskier a 401(k) gets.”
2. “Forty-four percent of all Americans are in danger of going broke in their post-work years.”
Now, I can hear some of you saying, “But the stock market is going back up. Green shoots are appearing. Everything is fine. The crash was just a correction.” For those optimists among you: I wish that all of your dreams come true and you live happily ever after.
I do not criticize the 401(k) plans just to criticize. I write because I am concerned. Let’s say “Time” magazine’s estimates are correct. Let’s say 44 percent of all Americans will go bankrupt after retirement. For approximately 75 million baby-boomers preparing to retire, that means 33.8 million of them will go bust once they stop working. To me, this is disturbing.
While many think the financial crisis is over, I believe the worst is yet to come. In spite of the green shoots in the stock market, the fundamentals of the U.S. government are worsening. I doubt Social Security can afford the avalanche of retiring baby boomers. The Social Security fund is empty, underfunded by approximately $10 trillion. For the first time in 35 years, Social Security will not pay a cost of living increase. And Medicare is projected to face a shortfall as well, of between $65 and $85 trillion.
In 2009, interest payments on our national debt are about $380 billion, which is $1 billion a day in interest. At the same time, the national debt is projected to climb to $20 trillion by 2012, which means the U.S. will have to borrow money just to make the interest payments.
I know the Federal Reserve Bank can continue to print more and more money…but city and state governments cannot. This means your city and state taxes will have to go up. If you think your property taxes are high now, just wait five years. I predict that, even if your home’s value does not go up, property tax rates will, and higher taxes will do wonders for property values. This means people counting on their home as their biggest asset may be disappointed.
In 1913, when the Fed was created, and in 1971, when President Richard Nixon took the U.S. off the gold standard, the ultra rich were allowed to siphon off our wealth — via our own money, the very thing we work hard for and do our best to save. In other words, with every dollar the Fed prints, our wealth is being drained via increased taxes, debt, inflation, and savings.
A Cash Heist
There are four expenses that keep the poor and middle class struggling financially. They are:
1. Taxes — both apparent and hidden
2. Debt — mortgages, credit cards, and student loans.
3. Inflation — rising food and fuel costs
4. Retirement plans — 401(k) and savings
It is via these four expenses that the rich get richer. In other words, all four of these expenses are a cash heists, the ways the rich use the government to get into our pockets, draining us of our wealth.
The Silver Lining
The silver lining of all this: With a more sophisticated financial education, rather than have taxes, debt, inflation, and retirement accounts as drains on a person’s wealth, a person can convert those government-sponsored expenses into elements that work in one’s favor. By using the same rules of money the rich use, those four expenses will make you richer. In other words, taxes, debt, inflation, and not needing a retirement plan can make you richer if you use different rules of money. As stated earlier, in 1971 Nixon changed the rules – and so should you.
In closing, the 401(k) has a few good points…but not good enough, in my opinion, given the financial challenges that lie ahead.
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A HELOC, or a home equity line of credit, is set up to have a maximum draw limit rather than just a set dollar amount in the form of a lump sum like a home equity loan. Similar to a home equity loan, a home equity line uses your home as security.
This line of credit is set up to a certain amount decided between you and your lender (generally 80% of the market value on the home in question minus any fees currently owed upon it) that can be drawn out in a set amount of time. A HELOC, in simple terms, is a recommended alternative to a home equity loan for those with ongoing projects.
So, you are in desperate need of cash, got projects to fund, mouths to feed, bills to pay, and so you decide to drop by the bank and get a loan. First option you are presented with when offering your home as collateral is whether to go with a home equity loan or a HELOC, or simply a home equity line.
In most cases a HELOC will probably be your better choice, simply because when you need the cash, you have it, and when you don’t, don’t worry about it. Sounds simple enough, and for those in need, a HELOC is a welcome alternative to many other loan choices because you won’t have a lot of money just sitting around that you have to pay interest on.
The easiest way to describe how a HELOC is a superior loan alternative is safety. With a HELOC you obtain safety in both terms of being more likely to handle your payments as well as safety from yourself. When the money isn’t just dumped into your pocket all at once you are less likely to waste it and end up in trouble.
A HELOC generally has low settlement cost rates (on a $150,000 line of credit it would be around $1000 compared to $2500-5000 for a home equity loan of the same amount). While other fees associated with a HELOC tend to be more expensive, overall a HELOC doesn’t cost that much more that a standard home equity loan.
In addition, the idea of saving you from, well, you, plays an important role as well. If you just receive all the money up front and it’s just sitting there, you are going to be tempted to spend it on things you don’t need. Obviously this situation can come back to hurt you.
However, in a HELOC, since the money isn’t just sitting in the bank but is rather drawn out when you need it, you will be less tempted to spend it and you also will not have to pay interest on money you do not use.
Disadvantages of a HELOC
The main disadvantage to a HELOC is that people are likely to try to go for long term repayment. Although the monthly payments can be held in check in long term repayments, what ends up happening is that the item purchased with the loan doesn’t last nearly as long as the repayment schedule.
In essence, you will be paying for something you no longer have. Similar to a home equity loan, a HELOC also puts you in danger of losing your home. If the payments can’t be met then serious problems arise.
A HELOC is also available to people with bad credit, and can even be used to improve credit as long as payments are made on time. Since the security is a home and the line of credit given out is usually less than the value of the home, lenders have little risk offering these types of loans to everybody.
We hope we have shed a little light on the world of home equity for you here. Hopefully after reading this article you will be better prepared on how to handle your money problems.
Just keep in mind that whenever getting a loan with something as valuable as your home as collateral to be careful, be smart, and always take the time to shop around and read the fine print.
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As soon as word got out, it didn’t take long for lawmakers to seize upon the highest credit card rate around — an offer being tested by First Premier Bank, a subprime card issuer, with a mind-boggling APR of 79.99 percent.
Moreover, much to the disdain of House Democrats pushing for a rate cap, the action by First Premier takes advantage of an apparently unforeseen loophole in credit card reform laws set to take full effect in February.
The First Premier card normally offers a minimum of $256 in fees for the first year for a credit line of $250. When the Credit CARD Act of 2009 becomes enforceable Feb. 22, the cap on such fees will be 25 percent of a card’s credit line. In recently mailed notices for its pre-approved card, First Premier offers a fee matching that same limit – $75 in the first year for a credit line of $300.
Along with the fee, a 79.99 percent interest rate is offered.
Reform laws do not set caps on interest rates. It only places restrictions on when and how rates should be imposed, but no limits.
First Premier has said that the offer is being tested, and does not know if it will be continued. First Premier said it needed to “price our product based on the risk associated with this market” in a statement to the Associated Press.
Rep. Dennis Cardoza, D-California, today lashed out at First Premier’s card offer in a letter to Pres. Barack Obama and California Senators Barbara Boxer and Dianne Feinstein.
Cardoza is asking them to support a bill sponsored by Rep. Louise Slaughter, D-New York, chairwoman of the House Committee on Rules. Slaughter and Rep. John Tierney, D-Massachusetts, that would cap credit card interest rates at 16 percent, and penalty fees at $15.
“First Premier Bank, a subprime credit card issuer, is skirting new regulations intended to curb abusive practices in the industry,” Cardoza said. “It’s a strategy other subprime card issuers could start adopting to get around the new rules.”
First Premier’s website says that credit cards are serviced by Premier Bankcard. The company, based in Sioux Falls, South Dakota, says Premier Bankcard is the 10th largest issuer of MasterCard and Visa cards in the country, with more than 3.5 million customers.
“Our representatives have done a lot to take care of Wall Street, how about doing something to help real people. Almost everyone has a horror story regarding credit card companies, and it’s time to protect consumers from this immoral and predatory industry,” wrote Cardoza.
Under the bill introduced by Slaughter and Tierney, the Truth in Lending Act would be amended to create a “National Consumer Usury Rate,” which provides that the annual percentage rate (APR) “for an extension of credit or outstanding balance on any credit card account may not exceed 16 percent.”
The bill allows the Federal Reserve to make adjustments to the maximum APR in the cap when it is “in the public interest and economic conditions warrant.”
Go here to read the rest:
Lawmakers to Obama: 79.99% Credit Card Calls for Rate Action
