Today (November 23, 2009) Federal Reserve Chairman Ben Bernanke spoke to the Economic Club of New York. They waited and wondered what he was going to do, if anything. No surprises today. He spoke the usual financial jargon and mumble that keeps the regular people confused. However, he is letting the financial markets know that it is status quo. Which means that you are to keep working hard, get into debt and invest in the stock market with mutual funds and the advice of your financial planner.

This really means that Wall Street is continuing with their casino speculation game and the Federal Reserve is going to back them up. The last depression was triggered because bankers and investor were borrowing depositors (savers) money to speculate on the stock market. Have they learn from that leasson? No. Not. Bankers are now speculating on the real estate market with savers money. Did you know that in 1933 the Glass Steagal Act was passed and was called the Banking Act of 1933. This act created the Federal Deposit Insurance Corporation (FDIC) and separated retail banks from investment banks. The intention of this act was to prevent the bankers who operate banks such as Wells Fargo and Bank of America from spending with savers money. Okay. At this point you may be asking yourself how can this happen with the Act in place. We are not told of significant changes by the mainstream media and in 1999 the Glass Steagall Act was repealed. The biggest financial bubble was on its way to becoming the balloon of today. Guess you might be putting the equation together at this point.

The FDIC is broke, bankrupt and is borrowing money to pay back investor who had their savings in the banks that have failed. Chairman Bernacke is not going to reinstate the Glass-Steagall Act. The bankers are going to continue to be allowed to play with savers money with the protection of the Federal Reserve.

Did you know that Goldman Sachs is no longer an investment bank? They are now a retail bank. Did you know that the Governor of the Bank of Canada is a former Goldman Sachs Executive? Did you know that Goldman Sachs has more people controlling the Fed, US Treasury and Wall Street than anyother bank? People are being told that the economy is healing and pointing to the stock market as evidence.

The truth is that people are not getting jobs and the stock market is only a smoke and mirrors act. The stock market in climbing for only two reasons. Low interest rates which is forcing people to invest in the stock market because they can not make any money as savers and because businesses have laid off and fired so many workers, reducing expenses so it looks like productivity has increased.

We need financial education now for all the adults that have been hoodwinked and for our children in our schools.

I know that if people had the financial education they would know what is really going on.

Without it people are going be more and more dependent on the government and thus enslaved. I know that we can take care of ourselves and it is important to become financially smarter.

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