Excellent book! It just goes to show why it’s a bad idea to be emotionally invested in money. Money is a tool to create wars. Fiat is created out to thin air. The International Monetary Fund, the Federal Reserve, and even the UN are all agencies seeing to bring socialist one world government and financial demise of the world. They bail out third world countries and encourage communist regimes, hoping these economies will be much more in debt and enslaved by their nepotism. They do it so subtly, it’s all a game played by them. This book gives great detail and explains very clearly how this has come to be.
It discusses the intricacies of present day fiat system - and how the federal reserve creates money out of thin air to lend to institutions. It is not so much a “reserve” of money but an independently run cartel (founded to eliminate competition & swallow smaller banks) that operates for profit rather than serving the greater needs of the economy and the people. The middle class have repeatedly been thrown under the bus and the rich keep getting richer under such a system.
Money is just a store of value but to a “poor” mind (financially uneducated), it can be a very emotional thing that they work hard to accumulate. For the federal reserve, it’s their super power that they can legally create money from nothing and charge interest on money that didn’t even exist in the first place. They’re simply flooding the system and own everybody with their fake money. Who pays when the government spends money & bails out companies in an altruistic fashion? Where does the money go? Who pockets it?
Money is an emotional trap for the financially uneducated. I think this book has helped me see how money is created and how the scales are tipped in the fed’s favor & not in ours. The federal government spends money so recklessly that it’s operating at a deficit and when it needs money it goes to the Fed without asking the public. The fed prints more money to pay the corrupt individuals who purposefully bankrupt their companies (and get the government to co-sign those loans) and pocket the extra $$ in terms of bonuses, dividends and salaries, and the rich still keep getting richer. When the government gets bailed out, the Feds pump more money into the system which leads to inflation. All this is irresponsible and reckless but done in the name of jobs and helping the public. The government is inefficient and a scapegoat run by politicians who twiddle their thumbs and knowingly bail out corrupt companies, and banks which operate just so they can make high risk loans. The public is distracted by FUD (fear, uncertainty and doubt) and expects handouts. I see money differently now that I know what to expect & why saving without appropriately investing the money to create Cashflow isn’t exactly helpful as it means next to nothing (you’ll stay poor if you continue to save). The book discusses how banks are pushed to legally commit S&L (savings and loans) fraud. Ultimately, the information contained within has helped me reflect on capitalism, the philosophy of Ayn Rand and how the global economy is on the brink of collapse because of present day fiat system and the federal reserve cartel.
It’s a heavy book with a lot of content but it’s been written in such a way that you can pick which parts you want to read, and details can be skipped & you can read the chapter summaries. I’ve read the book until chapter 4, and I’m reading and making notes. Its an excellent book & I recommend every curious individual to read it. It’s opened my eyes to the idea of money, its declining value, and it’s lack of safety from external factors like Fed-created inflation and eventual economic collapse. This book was recommended by R Kiyosaki in Cashflow Quadrant & I decided to read it along with a list of other books that he recommended. I’m glad I did.
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