Understanding monetary policy is critical to understanding why our lives are the way they are. Unfortunately, economics is often viewed by the vast majority of citizens with confusion and boredom. Financial jargon coupled with intimidating mathematics quickly deters people from any attempt at understanding it. That said, our established monetary system exists as one of the most unquestioned forms of faith there is and relies on workers to preserve its current structures.
Did you know that the Federal Reserve is not a government agency, but a private corporation with little oversight from the federal government? It was created in 1910 by bankers and titans of industry such as J.P. Morgan and passed into law in 1913. The Federal Reserve’s monetary policies do not have to be approved by the President or anyone else in the executive or legislative branches of government. It does not receive funding appropriated by Congress. In fact, the terms of the members of the Board of Governors span multiple presidential and congressional terms.
The Federal Reserve makes money when people buy things on credit and are forced to pay back the loan with interest. The Federal Reserve has manipulated the masses to blindly hold onto a materialistic belief system. They have created a system whereby people are conditioned to follow the given system to the point where they are controlled by it – Many have even become self-appointed guardians of the status quo! In the end, they have made us all prisoners to the system without the need for prison guards because we control each other by ostracizing anyone that tries to challenge the collective zeitgeist.
As entrepreneurs, we need to understand that the entire monetary system is controlled by a few wealthy people that want everyone to be in debt. Even our own federal government is a victim of the Federal Reserve. The old saying “cash is king” could never be truer than it is today in American society, especially when it comes to the role of the Federal Reserve and our fragile monetary system.
Do you understand enough about our monetary system or are you a victim?
