Algebra or Fiscal Responsibility

By Dr. Ken Matto

Proverbs 22:7 (KJV) The rich ruleth over the poor, and the borrower is servant to the lender.

A few days ago I was perusing Facebook and a fellow posted a picture with the caption, “another day goes by and I have not used Algebra.” No doubt he was referring to the fact that in High School we all took some kind of unrelated math. What I mean by unrelated math is math that we will never use in life. I went to Vocational School for electronics and we did need some type of special mathematics which related to the field of electronics. However, what the man from Facebook had in mind is the fact that the public school systems teach algebra, geometry, or trigonometry. In the normal course of life, unless one is seeking a technical career they will never need to know the difference between obtuse or acute angles.

Then I got to thinking as to why the public school system would teach courses in unrelated math. Then I realized that back about the turn of the 20th century the Rockefeller Foundation became heavily involved in the curriculum of public schools. They began to set the pace to teach and manipulate the minds of the students. Now I am not going to focus in on the political aspect of the manipulation but the focus is on the financial aspect. The Rockefellers are involved in banking. The Chase Manhattan Bank is the flagship of the Rockefeller dynasty. One principle of banking is that a bank must continually loan money to stay in existence. Herein lies the reason that we do not see any courses in school on the subject of fiscal responsibility.

There are many people today in debt, way beyond their ability to repay the lender and as a result, must either default or make minimum payments for the rest of their life. This is owing to the fact that people are never taught the principles of handling money in school. When every person graduates from school, and even if they don’t, they will be faced with the reality that handling money can either be a positive aspect of their life or a destructive element. The public schools and even the home schoolers need to teach the young people about the destructive nature of compounding interest. If they were taught these principles, then they could use the principle of compounding interest to their advantage.

The bankers do not want people to become fiscally responsible because if that happened, then people would be less likely to be in debt to the bankers and more likely to never incur unmanageable debt such as skyrocketing credit card interest. This is why we will never see a course on handling money in the schools. The bankers want to get people in debt from the moment they graduate till they die. If people were trained wisely in handling their finances, then much heartache would be avoided plus less divorces, less suicides, and less crime. Schools can teach algebra but they need to teach courses on how to handle money. They need to teach about investing, Ponzi schemes, compound interest, the difference between credit and debits, the reality that borrowing money does not represent capitalization. When a person borrows money, no matter what method is used, like credit cards, they are amassing debt and not wealth. True wealth is finances without the attachment of debt. For example:

If I have $25,000 in my bank account and borrow $50,000, I have cancelled that $25,000 out and incurred $25,000 in debt until that loan is paid off. Parents need to teach their children the destructive nature of borrowing. Now we live in a world where borrowing is almost a necessity. Not many can buy a house for cash or pay cash for a car, they must be financed over time. That is managed debt because with every payment, the principal and interest go down. Credit cards and even home equity lines of credit represent uncontrolled debt. You borrow and when you pay back, the balance goes up for available funds thus creating a revolving door of debt and payment.

I think I have made my point that both parents and schools need to teach students that handling money wisely will not create anxiety in a person’s life and that all will have to handle money. The key is will you handle it wisely or will you handle it foolishly thus enslaving yourself for life. Remember, the bankers want you in debt and will make every effort to keep you there, as their slaves. Lincoln freed the slaves in 1863 but if you think slavery has been abolished, then look at your next credit card statement. Isn’t it time to break the shackles of financial bondage? I hope parents and educators realize that handling money is a part of every single person’s life and the earlier in life one learns the principles of economics, the earlier they will be aware of the destructive nature of debt and compounding interest, and to be able to let these principles work for them rather than against them.