Wealth Formula by Buck Joffrey 066: G. Edward Griffin and the Institutionalized Theft of Your Money
I have been on a real anti-conventional wisdom kick lately if you haven’t noticed. You see, I think that conventional wisdom in personal finance is a big Wall Street scam!
Invest in stocks, bonds, and mutual funds for the long run? Why is that conventional wisdom? Well, who benefits if you continuously dump money into the equity markets? The market MAKERS of course!
Make no mistake, conventional wisdom can be manipulated by special interests folks.
Just look at the sugar industry. In the 1960s, Harvard Scientists were paid off by special interests of the sugar industry to suppress any link between sugar and heart disease. The result–the food pyramid!
The food pyramid showed starchy foods like bread, pasta, and cereal as the BASE of the pyramid–the food you should consume the most. Decades later, this guidance has led to an increase in diabetes, obesity, and coronary artery disease.
Like the food pyramid, dependence on the equity markets for the long term will likely have consequences to your financial health–but it will be great for the on going pillage of your money by the market makers.
The market makers–ie. Wall Street and their minions, the wealth advisors, make money by taking your money. If you don’t put your money in the market, they can’t do that.
That’s why real assets like apartment building investments get labelled “alternative”. Alternative doesn’t sound very safe, does it? It sounds exotic and well…risky.
Who wants to invest in risky stuff when your money manager can get you into a diversified portfolio of stocks, bonds, and mutual funds? Doesn’t that sound safer?
I could go on all day about this stuff by I will spare you the rant. Instead, I will direct you to this week’s Wealth Formula Podcast interview with G. Edward Griffin, author of The Creature from Jekyll Island.
If you have never heard of G. Edward Griffin, you need to listen this podcast. Hint: The United States Federal Reserve Bank is neither a government institution nor a bank!
Buck