I’ve been doing a lot of spare time readin
g about money. The first book I read was the Ascent of Money by Niall Ferguson. It outlines the history trade, currencies, bonds, stocks, derivatives and many other aspects of the world of money. Money is intimately related to the affairs of human beings. It is the root of much of what we do in our day to day lives. Most of us get up when when do, spend 8 hours doing what we do, live where we live and drive what we drive because of money. Most of us don’t understand the world of money and how it works. I can’t can say that I understand it now that I’ve read a bunch of books but my mind is a lot clearer.
The bible does not lie. 1 Timothy 6:10 “the love of money is the root of all kinds of evil”, NKJV.
To put it simply, our financial system is broken because of the love of money. That sounds trite but it still true. Folks have been greedy. Avarice has overtaken many who lead our financial institutions. You remember bailed out institutions paying their staff billions in bonuses and not thinking anything that was amiss. The love of money is systemic and it’s causing havoc.
What leads people to create financial instruments that they know will fail and cause people to lose homes? What kind mind designs a system that is geared towards keeping people in debt for the rest of their lives?
What have I learned? I learned that I need to educate myself about money, real money. I need to look at alternative opinions concerning the stock market, mortgages, 401 k, real estate, the banking system. This is not the time to leave your money in the hands of fund managers and financial advisers. They are very often simply selling you products and services and know as little about money as you do. Get your head in the game.