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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (3253)	8/15/2002 8:04:14 PM
From: IngotWeTrust	Read Replies (1) \| Respond to of 4051

OT: If I may, I'd like to enlarge your "definition" of "frats." which may involve the toning down of your derisive regard for them. The fraternal insurance company biz model differs from commercial insurance in very distinct ways; religion is N O T involved, at least not in the foundings. Nor was recognized religions espoused in the organization for whom I worked, the only fraternal insurance company domiciled in the state of Oregon. If you recall, there was a recent, very public glimpse into the fraternal community, the same spirit and sourcings which founded fraternal societies in England in the 1840s. The public intersection was recently viewed in the all out national pull to rescue 9 coal miners in Pennsylvania. You see, the model for fraternal insurance companies is based in the gathering of the WOMEN, widows of workers in dangerous occupations, coal primarily, in England in the 1840s. There was no concept of insurance. There were no death benefits. There were no governmental subsidy programs to take care of widows and children. So the WOMEN who were wives, sisters, aunts, grandmothers began to take small collections everytime there was a death of a male worker. Whatever was in the pot at the time of the next death, went to the next widow. If there were 30 widows at the same time, the pot was divided by 30 and parsed out to each, and the collection started over. This practice of communal collections and "taking care of their own" friendly society statistical tables of probability of life expectancy, death and the financial correlation with what would be available in the "financial pot" to be shared with the widow/s is the very basis of the current actuarial tables governing ALL life insurance payout schedules even to this day. Tom, this fraternal/friendly society is also the basis for the premium calculations included in the very same CREDIT LIFE INSURANCE "options" you offer as an accept/decline option on most all of your home mortgage applications be it new biz or a refi. I'm willing to wager you did not know the origins of that practice nor premium calculation judging by your revulsive reaction to my self-revelation of my distinguished career years as a FRATERNAL INSURANCE licensed rep. The earliest export of this fraternal coal-miner widow model into the USA in the 1860s was into the lumber industry. The widows of lumberjacks also began this pass the hat at time of death tradition, modeled upon their England widowed counterparts' experiences. The success of this biz model is built upon the very authentic experience we all shared as a nation with the proud coal mining families of Pennsylvania just a scant few weeks ago. That is why Woodman of the World--(oldest and largest), Modern Woodman, and Neighbors of Woodcraft were some of the earliest occupational based fraternal societies in this land, and of course, some of the most successful. From Woodman of the World sprung the largest women owned and operated woman's life insurance company--in either fraternal or commercial insurance categories--to this very day. That fraternal is Royal Neighbors of America, based in one of the Illinois tri-cities, Rock Island. Then came Lutheran Brotherhood, Knights of Columbus and many others. If it weren't for risk averse fraternal life insurance companies investing in the treasury and corporate AAA bond market as well as in solid real estate ownership which each and every dime solidly backs each life insurance promise to pay $XYZ upon death of A.B. fraternal owner, there would be a great many more financial problems in the USA today, yes, even more for gold and silver bugs to wring their hands over and wail about. In NO case was organized religion a part or requirement of these friendly societies in England, nor in the early American lumber industry, nor in the coal-mining industry either.. Instead, Charity, Hospitality, Faith, Social Justice were the espoused virtues of membership. These were verbally and visually illustrated by what is called to this day: "ritualistic floor work and vocal scripting." These may be some of the practices you eschew and have also seen in various social lodges such as your Elk reference and Shriners organizations. So, yes, I took issue with your associating me with being either a Bible Thumper or " lowest of pond scum" when I revealed my proud service in the fraternal life insurance organization as a licensed representative in two states, holding licensure in both life and health as required by law and by my employer. That is the full-time job I held at the time I wrote my book and voluntarily surrendered my licenses, as required by law, in order to pursue gold recycling on a full-time basis. Now, if you like, I'll address your detour back to silver which formed the rest of your derisively aimed post. your turn g_t