If the banksters could pimp their own mothers and daughters for a buck they would.
Perhaps those now forced to sell their life-insurance policies to the ‘financial innovators’ should have saved their wealth in ounces rather than bankster debt fiats.


When we think of “innovative financial products,” we probably think of credit-default swaps, collateralized debt obligations, and other ghoulish abstractions that we nervously half-remember from that last Michael Lewis book we read. We probably don’t think of life insurance. But a fascinating  new article in the  New York Times Magazine  gives a very informative tour through the “life-settlements business:” an emerging marketplace whereby people who need cash near what is ostensibly the end of their life sell their life insurance policies to a third party for a price.

Here’s how it works: once a person decides to sell his/her life insurance policy, the third-party investor does a bunch of research, usually based on the the seller’s medical records, to see how long the person is likely to live. (This is important, as the third party investor is on the hook to pay the sick/dying person’s life insurance premiums until their death.) Then the seller and the investor agree on a price. Say we’re talking about a $500,000 life insurance policy, and a person with a two-year life expectancy; the investor might offer $300,000, in hopes that the difference will both cover the cost of paying premiums for the rest of the seller’s life and leave room for profit.

As ghoulish as this sounds, the article’s writer, James Vlahos, makes the case that this is in fact a pro-consumer innovation in the life insurance marketplace. He may be right; I’m not sure. But what many commenters to the article really find ghoulish is the simple fact that we have such an eroded public safety net that folks are reduced to selling their life insurance policies for the sake of paying their medical bills and the other costs associated with old age. In an era of small social security payments, high medical costs, and a failed system of retirement savings, our once-proud system to prevent poverty in old age is reeling.
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  1. How about this for ghoulish?   It won’t be long before some sort of exchange is set up where a person can sell organs and other body parts to the highest bidder in the hopes that some part of their body might be salvageable before end of life.  China seems to have that service wired.  I wonder how long before they start stripmining some of their new economic and financial colonies for usable human body parts.  America—wake up.  We are not far from becoming a Chinese colony.  IMO
    I guess news about Soros is giving me the willies.  He’s probably first in line.

    • We’re only just beginning. 

      Actions that weren’t allowed before are now allowed out of convenience for the banker class and nothing else. 

      Any little thing that is good for the little guy will be outlawed, while everything that facilitates criminal bankster behavior will be promoted. 

      AG~  I agree with you and more, sir.  To turn that idea around a little…..  in the new “world”/post financial collapse:  50 ounces of silver for a new liver, 30 for a kidney, etc, etc….

      Another great reason to stack!  JUST IN CASE!!!!!

  2. LMAO who in their right mind would want to buy an insurance policy right now then wait till that person dies then collect MAYBE half of it after the dollar crashes. Stick to Gold and Silver it’s a better investment. Lol

  3. @Marchas45 : mainly speculators who think they can double their fiats in 3-6 months by betting that the chemo patient won’t outlast their liver cancer radiation and Avastin treatment.

    Obviously investing in gold and silver is the safer and moral route to take.  The point is that people have nowhere left to turn for cash than to monetize their life insurance policies.

  4. Thanks, Doc. When you mention gold and silver is the safer and moral route to take, I wanted to add to that a little, if you don’t mind.

    Not only is investing in gold and silver the safer and moral route to take, it’s the one and only RIGHT THING TO DO in our situation….for many reasons.

    Major religious documents around the world talk about gold and silver as money.  Even our founding fathers were in the know by formalizing it in the Constitution.

    There also is a spiritual aspect to this most miss.  Trusting someone with your wealth is diametrically opposed to being in physical possession of it.  One way constantly tears at the threads of your soul, while the other provides effective and immediate relief.  Taking care of yourself is the ONLY way to survive.  And, the only way to take care of yourself in this super-chaotic world ultimately is to take physical possession of as much precious metal as you possibly can. 

  5. “If the banksters could pimp their own mothers and daughters for a buck they would.”

    Well, maybe they have.  Bankster in-breeding would explain a LOT!

    When we think of “innovative financial products,” we probably think of ….

    Nope.  The only word that comes to mind when I hear this is…  INCOMMING!  because every time these jokers come up with something “new and improved” it ALWAYS leads to a massive financial f***-up!


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