This is an eye opening book. It has fascinating insight into the corrupt practices of certain financial institutions in America. Americans will be much better off when they read this book. It is an excellent source as to what is really going on in the financial world.
Portsmouth, NH (PRWEB) July 15, 2008
Author Barry J. Dyke, in the new book ''The Pirates of Manhattan'' reveals how Wall Street, banks and mutual fund managers routinely consume the lion’s share of wealth created in today’s stock market returns and systematically plunder the American consumer. The book maintains that the entire 401(k)-mutual fund system is broken because of unrealistic expectations, a misinformed public, Wall Street greed, conflicts of interest, taxes and massive inflation caused by the Federal Reserve System http://www.thepiratesofmanhattan.com. In a brave contrarian stance, the author maintains that people should be investing in themselves, their loved ones and saving money in life insurance first — before they deposit funds into 401(k)s, mutual funds, stocks or any other speculative products, which the author addresses in the chapter ''The Casino Age.''
''The Pirates of Manhattan'' unveils a major banking secret — banks such as Bank of America, JPMorgan Chase, Citibank, Wachovia, Wells Fargo and The Bank of New York-Mellon do not invest their own money into hedge funds, mutual funds or stocks they are trying to sell to the public, but instead deposit tens of billions of dollars of their reserves into high cash value life insurance for sound economic reasons. The book sites how purchases of life insurance by banks have increased over 60% since 2004, while up 15.9% in 2007. The author posits that as good as life insurance is for banks and corporations, it is much better for consumers. For instance, it is a documented fact that Walt Disney — when everyone else turned him down for funding — actually started the Disney empire through a life insurance loan — not through Wall Street.
Over twenty-five years, the author, Barry Dyke has acquired extensive financial knowledge and expertise to write such a book. He has practiced financial planning, owned a pension consulting business, a health & welfare consultancy and an investment advisory firm http://www.castleassetmgmt.com/about.htm . A major point Dyke makes in ''The Pirates of Manhattan'' is that private capital formation and protecting one’s family in the days ahead should be a number one priority for consumers today — and maintains that interest rates must go up in the future. For that reason alone, people must save — not speculate — efficiently. However, the media and Wall St. maintains that the only way for people to save is to put it in the markets — a tragic misconception that can have dire economic consequences.
According to the book, cash value life insurance is the safest and most tax-efficient reservoir for savings in America today. With laser accuracy, and FDIC & SEC reports to support his claims, Mr. Dyke documents how banks and wealthy individuals have already embraced the fact that cash value life insurance is a strong, multi-faceted economic power tool. Mr. Dyke has written for and been quoted in publications such as Broker World, The National Underwriter, Advisor Today, Pension & Investment Age, The Charlotte Observer, Business Week and The Portsmouth Herald. He is a frequent guest speaker on talk radio shows throughout the country and an outspoken contrarian contributor to YouTube http://www.youtube.com/user/PiratesofManhattan .
The website for the book has an extensive video library which supports and compliments the research in the book http://www.thepiratesofmanhattan.com/videos.htm .
Congressman Ron Paul (R-TX) says this about ''The Pirates of Manhattan.'' “This is an eye opening book. It has fascinating insight into the corrupt practices of certain financial institutions in America. Americans will be much better off when they read this book. It is an excellent source as to what is really going on in the financial world.”
The book is taking a novel approach — selling directly to consumers via the internet. The book has already sold in all 50 states, England, Europe, Australia, Canada, Singapore and Australia — and based upon current sales, will be a best seller in summer 2008.
To order, go to http://www.ThePiratesofManhattan.com.
For additional information, including press review copies, you may contact the author barry@ThePiratesofManhattan.com, telephone 800-335-5013
Castle Asset Management, LLC, 2 King’s Highway, P.O.B. 95, Hampton, NH 03843
BARRY JAMES DYKE is the President and Founder of Castle Asset Management, LLC of Hampton, New Hampshire. He entered the financial service business in 1982 and worked with individuals, privately held businesses, venture capital firms, public companies, athletes and national celebrities.