All About the Money | Blog
Do you know where money comes from? Ever wonder where the money in your pocket, purse, wallet, bank account or on your credit card originated from? When you buy a car or house or take out a student loan, have you ever wondered about the logistics of one financial institution getting their money from the other?
Consumers should take note of how often you buy the same products and services, how many other people buy the same or similar products, who created the product and services, and who benefits monetarily from the product or service consumers buy. Next, think about how to not be just a consumer but also an investor.
The first car I purchased was a 1995 Toyota Camry in September 1995. Less than a year after my purchase, I started to see so many Camrys on the roads. The following year someone introduced me to investing and I immediately thought I should buy Toyota stock. While I did not buy the stock, I did start to learn about investing, finance, and taxes.
One of the most important things about money I have learned is who and what the Federal Reserve is.
I recommend that whether you are a student, consumer, parent, employee, employer, aspiring investor or entrepreneur, find out what the Federal Reserve Act is. Unlike the pre-internet days, information about the Act and the Federal Reserve Banks is everywhere. So, watch a couple of videos on the internet or visit the Federal Reserve Bank in Cleveland.
In your study you might find that our country’s number one group of shameless people – the Congress – has never missed an opportunity to engage in a shameless act. So yes, their conduct goes back to 1913 when the Federal Reserve Act was approved by the House of Representatives and the Senate before being signed into law by President Woodrow Wilson.
The internet is a better source to learn about the Federal Reserve because when it comes to money, the talking heads on the idiot box often say, “it’s complicated.” Maybe money, economics and finance are complicated, but one thing is for sure, just follow the money and you will get where you need to be every time. Because most people and most things are all about the money.