BankNotes September 2023 Edition

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The Premium Deposit Fund Rider: How to Use a Windfall to Start the IBC


Background


Meet my client Dave (no, it’s not his real name).


When we met late last year, Dave was about 50 years old. He’s a successful tradesman who had built a substantial business.


Dave was recently approached with an offer to buy his business, and as a result, Dave expected to have about $2,000,000 that he wanted to use to establish his own personal monetary system the way Nelson Nash teaches in his book Becoming Your Own Banker.


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Building the 10%



“Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society, which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to society... He intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was not part of his intention.”


—Adam Smith, An Inquiry into the Nature & Causes of the Wealth of Nations. Volume I, 17591


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