Page 171 - Ready Set Retire

Ready. Set. Retire!

• Your surplus fund must be depleted.
• The very safe bond portfolios of all four to 14

reinsurance partners would have to fail with their
reserve funds.
• The state reserve fund must fail.
• There would have to be no company left that could
merge with the failing company, i.e., a complete
financial meltdown far worse than anything we have
ever seen before.
This confluence of events has never happened in the history
of the Legal Reserve System.

I promised proof at the beginning of this section that the Legal
Reserve System had a better track record than the FDIC.

Legal Reserve companies had their strongest showing of
strength during the Great Depression of 1929-1938 when
some 9,000 banks suspended operations while 99% of all fixed
life insurance in force continued unaffected.

Many people are not aware that it was not the government that
bailed out the banking industry during the Great Depression;
it was the U.S. insurance industry. Without it, we would never
have pulled out of the Great Depression with our financial
system intact. People often question this statement as it is not
well publicized. Here are the facts. According to the U.S.

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