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There are several important things to be considered, when one wants to get rich. One of the most important, is the fact that during your educational life, you should have to consider taking a solid course in the history of education.
Why would this be important, you might ask? Because a solid understanding of the roots of institutional education enables you to realize that most of the education puts you in debt, never teaching you how to build wealth!
In one occasion Henry Ford stated that it was a good thing that people in America had no understanding of how banks truly worked since if they did, most likely there would be a revolution as early as tomorrow morning!
After so many years after this statement given, it still holds true. 99.9% of people, even the ones employed by banks, have no true understanding of how banks control economies. If you think that banks in the United States keep the stated 10% of the Reserve Ratio Requirement (RRR) in their reserves you should reconsider.
In this line of understanding things, most of the people have no true understanding of how educational institutions work. This conclusion comes from the fact that if they did, many would realize that formal education can often hurt their ability to build wealth, rather than it helps them to get rich.
In general, most of the people, regardless of the fact if they are educated or not, go through their educational life learning, to become robots! Sounds strange-well it is, but it is also quite true!
Let’s see the following example: The “authority” figure tells that A+B = D and if the student disagrees and argues that A+B = C, then his or her reward is a less than satisfactory grade. Students spit back what the teachers told them to think, receive good grades, and for their obedience, further on in life, are rewarded with a good job. No matter what, looks like a perfect process to produce the perfect cog in the machine, the pod people represented in the film “The Matrix”.
How do educational institutions ‘support’ debtor system?
In order to be able to attend higher education at a top ranked global institution, you will need between USD 80,000 to USD 200,000 in debt by graduation. In essence, it comes down to trading an “elite” education for a lifetime of debt. Even if a family is wealthy enough, not to take a loan, to send their children to the top schools in the world, their child, before he or she even graduates, needs to start establishing “credit” if he/she ever wishes to successfully apply for a car loan or a home mortgage after graduation.
However, “credit” is an extremely funny choice of words considering that to establish good “credit”, one has to rack up lots of debt. If you do not rack up in lots of debt and prove that you can pay off responsibly, then you will not have “bad credit” history. It is worth mentioning that without “good credit”, even if you have USD 1 million of “credit” in the bank, you will actually have no credit. With no credit, you will not be able to get a car loan or a home mortgage, not even with $1 million in the bank, unless you offer your money as collateral for a secured loan.
In this sense, credit cards should be renamed “debt cards” and institutions of higher learning should be renamed “institutions of higher debt”, so that at least every innocent, bright-eyed 18-year-old has no misconceptions about the dark side of credit cards and institutions of higher learning!
The rich elites founded almost all top universities in every country in the world. The most evident example is the USA, where if we look at the founders of the U.S. educational system, inevitably we can see that the elites founded Temple University, Vanderbilt, Johns Hopkins, Cornell, Duke, the University of