It's good business for the bank.
In 1903, John D.Rockefeller created the General Education Board. It seems this was done to ensure a steady supply of employees who were always financially in need of money, a job, and job security.
There is evidence that Rockefeller was influenced by the Prussian System of education, a system designed to produce good employees and good soldiers, people who dutifully follow orders, such as "Do this or be fired," or, "Turn your money over to me for safe keeping, and I'll invest it for you."
Regardless of whether this was Rockefeller's intent in creating the General Education Board, the result today is that even those with good education and a secure job are feeling financially insecure.
Without a basic financial education, long-term financial security is almost impossible.
Every time an educator brings a banker or a financial planner into their classroom, supposedly in the name of financial education, they are actually allowing the fox to enter the hen house. I am not saying bankers and financial planners are bad people. All I am saying is that they are agents of the rich and powerful.
Their job is not to educate but to recruit future customers. That is why they preach the doctrine of saving your money and investing in mutual funds. It helps the bank, not you. Again, I reiterate this is not bad. It's good business for the bank.
It is no different than Army and Marine recruiteres coming on campus when I was in high school and selling students on the glory of serving our country.
There is evidence that Rockefeller was influenced by the Prussian System of education, a system designed to produce good employees and good soldiers, people who dutifully follow orders, such as "Do this or be fired," or, "Turn your money over to me for safe keeping, and I'll invest it for you."
Regardless of whether this was Rockefeller's intent in creating the General Education Board, the result today is that even those with good education and a secure job are feeling financially insecure.
Without a basic financial education, long-term financial security is almost impossible.
Every time an educator brings a banker or a financial planner into their classroom, supposedly in the name of financial education, they are actually allowing the fox to enter the hen house. I am not saying bankers and financial planners are bad people. All I am saying is that they are agents of the rich and powerful.
Their job is not to educate but to recruit future customers. That is why they preach the doctrine of saving your money and investing in mutual funds. It helps the bank, not you. Again, I reiterate this is not bad. It's good business for the bank.
It is no different than Army and Marine recruiteres coming on campus when I was in high school and selling students on the glory of serving our country.
