What the smartest and brightest minds in the banking and investment world were doing was not much different than when a poor person refinances his or her home to pay off credit cards.
If people had more financial education, they would not blindly believe that their house is an asset, that saving money is smart, that diversification would protect them from rish, and that investing for the long term in mutual funds is a smart way to invest.
But because of our lack of financial education, the powers that be are able to continue with their destructive monetary policies.
It is to their benefit that you and I are in the dark.
This is why the rich had to first take over our educational system before they could flood the world with debt.
This is why our schools do not teach us about money.
Related:
