Book Summary: Pirates of Manhattan II – The Hijacking of America’s Savings – By Barry James Dyke

The concentration of power the banks hold are at the levels of the great depression. When the balance of power swings too much in favor of the rich then bad things start to happen. This was demonstrated in 2008 with Mortgage meltdown. Bottom line is that Wall Street has a gambling problem and nothing has changed since that bubble burst.

Why is this important to me?

I am not doing this summary to waste your time. It is my vision to provide concise action steps that you can adopt right now to enhance your financial life. There is an old saying, put a frog in boiling water and he will jump out but heat the water gradually and he will stay in it and die. This is what is happening right now with the wealth of the United States. The greatest wealth transfer in history is happening as we speak and has been since 2005. Wall Street simply cares about bonuses and payouts. Large companies and banks alike get big paydays even if they screw up and do a bad job. GE was hailed as one of the great American companies and the stock price is half of what it was 10 years ago yet the executive management team has made big money.

Where I come from, you do not get a trophy unless you win. Management today has no stake in the companies they run. The biggest problem we have right now is that for every dollar the U.S. Government spends on wars, defense, entitlements and other projects, they borrow $.43 cents. If the average American did this, bankruptcy would happen in less than 2 months.

Pirates of Manhattan II focuses on Target Date Mutual Funds and the fact that banks want to start managing YOUR 401K plans. In this summary, we will cover the what, why and how regarding Target Date Mutual funds and review performance to make sure you know how to protect yourself.

1. What are Target Date Mutual Funds? – A mutual fund in the hybrid category that automatically resets the asset mix (stocks, bonds, cash equivalents) in its portfolio according to a selected time frame that is appropriate for a particular investor. A target-date fund is similar to a life-cycle fund except that a target-date fund is structured to address some date in the future, such as retirement. These instruments are very complex and can include derivatives and other instruments. The disclosure documents and prospectuses are similar to the 1,900 page health care bill – very complex.

2. Why is understanding TDMFs important? Mutual funds in general are pitched and advertised as great investments by the likes of Suze Orman and other financial gurus. When you dig in and see what the wealthy invest in, the last thing on their list is mutual funds and 401K’s. Suze Orman pushes these instruments as if her life depended on it. Since her sponsors are big financial corporations then maybe her financial life does depend on it. The question becomes – Does she invest in these instruments herself? According to her, she only has 3% of her wealth tied up in the stock market because “I don’t care if I lose it.” How can she push these instruments if she does not invest in them herself? What you will find is that major businesses, wealthy people and smart investors do not invest in mutual funds and 401K plans.

3. How does it work? Target Date Mutual funds are not proven but there are three drivers exploding their growth. 1. TDMF’s are the default election now on most 401K plans. 2) Upon employment, several employers default the employee as elected so they get in the plan. 3.) Mutual funds and 401K’s are not guaranteed.

The media has done a great job on selling the general public on investments that are not guaranteed. Dave Ramsey pitches Mutual Funds as well saying you can get 12% per year. This is misleading because according to Dalbar that the average actively managed mutual fund averages 3.8% per year over the last 20 years. You can invest in GUARANTEED Annuities and Life insurance and beat these returns by 2-3% and your return is GUARANTEED. Mutual Insurance companies are owned by the policy holders and the capitalization requirements are 1 to 1 and not 10 to 1 like banks. Some Mutual Funds use leverage up to 60 to 1. If you remember the cause of the Mortgage Crisis in 2008 was due to derivatives being leveraged higher than 40 to 1 and now these same banks want access to your cash because of the fees and money making stream they offer.

This book is a must read and will scare you. Most people I chat with basically have “learned helplessness.” I hear – “I get my 401K statements and don’t even open them.” This is a travesty and needs to change. Account preservation is just as important as account accumulation. Will Rogers said: “It is the return of my money that I worry about.” Your retirement account should be guaranteed and rock solid. You can have other speculative investments after that but not your core nest egg. Another area that the book covers is the relationship between big business, the media, financial press and your retirement. The mutual fund business is a trillion dollar industry and the sharks know they make money on the fees and administration regardless if you win or lose.

I hope you have found this short summary useful. The key to any new idea is to work it into your daily routine until it becomes habit. Habits form in as little as 21 days. One thing you can take away from this book is to setup a guaranteed retirement plan. Do your research and make part of that research annuities and life insurance. I am not a financial planner but I advocate financial education. I can tell you I do not own mutual funds and do not tie my money up in 401K plans. This is a road to nowhere in my opinion. I do save money in guaranteed instruments like life insurance and annuities. Set a time on your calendar each week and get educated.

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Kick Ass Poker Secrets

As an avid online poker player, especially with Sit&Gos tournament play, and multi-table tournaments such as guaranteed tournaments, I think you’re about to discover secrets I never knew existed! Let me begin by saying that I came across a young man, young by my standards since I’m over 60, and he’s just barely 25.

First let me tell you a bit about his life: It is somewhat inspiring since he’s just a regular guy just like everyone else. He just works really hard at everything he puts his mind to. Ironically, by telling his story, he hopes to inspire other people to set BIG goals and have the discipline and willingness to do whatever it takes… because the only failure in life is giving up.

So here’s this young guy who at a very young age learns to play chess with his dad. Eventually, he gets so good at it that he beats his dad most of the time. He continues playing chess all through middle school and high school.

While in high school (between 9th and 10th grade), he takes up playing trumpet and forms a band. At one point, he suddenly takes trumpet playing very seriously and finds himself playing 6 hours a day. He eventually becomes the best trumpet player in his county and plays at different events between the 11th and 12th grade. This is when he learned a lot about pressure, which was later beneficial to him in poker. Because, when playing in front of crowds you are under enormous pressure, and you need to learn how to fail eloquently.

As he puts it, “most online players have never really accomplished much in their lives, and when start getting good at poker, they don’t know how to control their ego. You need to learn to keep your ego in check. Nobody is that good”.

As a teenager (16 to 17), he had different jobs such as McDonald’s, but eventually landed a job at an airport fueling airplanes. The job came with a lot of downtime which allowed him to study a lot about poker, especially hold’em.

At about 19 years old, he deposited $50 online on a particular site to play poker. He played 25 – 50 limits and grinded it up to about $5000 in bankroll. He then switched to a well known gambling site, 4-tabling 15 – 30 limit tables, and moved up to 30 – 60 limit tables, which at the time were the highest limit tables you could have online. The problem was… he just couldn’t beat them and got very frustrated and depressed about it.

Then one day, he decided he would switch to SitNGos, and although he didn’t know much about it, he ended up winning $10,000 in about a month. Still at the age of 19, he decided to quit his job at the airport because it didn’t make much sense to him to keep working when he was sitting on a bankroll of $15000 playing poker online.

He had also been going to college at the time studying engineering, and found it too hard when all he was doing is spending his free time playing poker. And anyways, it became clear to him that he could never make that kind of money initially as an engineer. Although he admits that everyone should have a back up plan (a college degree), he eventually quit college.

After quitting college, a certain site started making higher and higher limits on SitNGos, all the way up to $2000 SitNGos, which he played quite often. They also had a STEP SitNGo for a cruise to the Mediterranean which he won. By the time he had won this tournament, he was sitting on a bankroll of about $80000.

I think you get the idea… but this story ends that by the time this young man turned 21, he earned over $500,000 playing online poker in multi-table No Limit Hold Em, and at 21 played his first major tournament on the WPT and won. He’s won over $4,000,000. in tournament play by the time he turned 23.

He continues his living in BIG BUY IN tournaments on tour.

The moral here is: Set BIG goals and have the willingness and discipline to learn, and to do WHATEVER it takes… because SUCCESS is never giving up! I’ll add to this at the ripe old age of 62, “that YOUR FEAR OF LOSING is your worse enemy”.

Pick 4 Lotto Strategy

An excellent pick 4 lotto strategy is hard to come by, but if you find the right one you can be profitable for a very long time. Eventually quit your day job, buy a new house, a new car, and anything else your heart desires. Pick 4 predictions are usually wrong if they are based on a birthday combination, a specific date, or just by randomness. The only true way of winning the pick 4 lotto is using strategies that are proven to work. Let me explain. It all started back in 1996. I was dumping in hundreds of dollars a week trying to win the pick 4 lottery. Little did I know that the odds of winning they way I was playing was 1:10,000. I thought that was ridiculous and wondered why I was playing 1:10,000 odds instead of playing the 24 way box bet form increasing my odds alone to 1:416.

A 1:416 chance of winning the pick 4 sounded much more appealing than a 1:10,000 chance of winning. Now, this was fine and dandy but I still was not consistently winning because I did not take in account my states most frequently occurring pick 4 combinations and pick 4 numbers for the past 30 days. To win any pick 4 lottery drawing and make a stable income playing the pick 4, you must understand trends, frequency of numbers, and which betting form to play. You can’t base pick 4 numbers on any number 1 lottery pick 3 and 4 guides. You need to listen to what I am telling you and find a proven pick 4 lottery guide that teaches you exactly how to make a stable income playing the pick 4 lottery. Look for a guide that also offers a 100% money back guarantee if the system doesn’t work out for you. Also a great pick 4 strategy guide will also not make you risk more than $5.00 a day for a chance to win $200+ dollars.

That is how I win an average of $1000 or more a week. The pick 4 system I use let’s me just risk a mere 5 bucks a day to win over $200.00. It is one of the best pick 3 and 4 online strategies out there on the internet. I found the pick 4 strategy guide at the most perfect time of my life also. It all started when I was in college, no money, no job, and no car. I never thought playing the pick 4 lottery would be so profitable. I was able to pay for my whole 4 years of college, buy a new house, a new car, and any other WANT I had. Still to this day after 2 years I am still making a stable income playing the pick 4 lottery. The strategy that I found makes it so easy to win on a nightly basis. I wish you the best of luck finding your pick 4 winning strategy! It is hard to find but once you find it you will seek the benefits for the rest of your life.

Juvenile Shoplifting – On the Rise and a Gateway Crime to More Serious Crime

According to the National Crime Prevention Council, 25% of all shoplifters (approximately 27 million) are between the ages of 13 and 17 (that’s 6,750,000 kids). As parents, we tend to focus on issues such as drugs, alcohol, sex, gambling etc. Shoplifting is often overlooked as a serious problem.

The Ethics of American Youth – 2008 Summary published by The Josephson Institute of Ethics reports that one in three boys and one in four girls admitted to stealing from a store in the past year. This is an increase from 28% in the 2006 survey to 30% in the 2008 survey.  Could “the one” be your child?

Why should you be concerned if your child shoplifts? The consequences of shoplifting are more serious than most people realize. 

  • Shoplifting is a gateway crime – 30% of prison inmates say they started out their life of crime as shoplifters.
  • Shoplifting can become a lifelong problem – 55% of adult shoplifters say they started shoplifting in their teens.
  • Some universities and colleges do background checks, which could prevent your child from being accepted to the school of their choice if they have a theft record.
  • Many employers do background checks on employees prior to hiring. Even though juvenile court records are sealed, a child’s behavior may limit what jobs will be available. 
  • If convicted of shoplifting your child may have to pay fines, do community service, or be sentenced to a detention facility or juvenile hall.

Knowledge is the key to helping children withstand peer pressure and understand they will jeopardize their future if they shoplift. Teach your children the consequences of shoplifting. Help them to understand that a choice they make in an instant can have consequences that will last a lifetime.

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