There was once a time in the United States and Minnesota when somebody could work all their life, save money during that life, and that money still being worth as much many years later as it was the day it was saved. Worries about inflation constantly eating into the value of savings were nil because inflation was not an issue. Our monetary system was stable and stood on the firm foundation of hard currency.
We have not had this since about a century ago.
Various decisions were made to convert America from a place of hard money backed by real commodities to a place of fiat money. This conversion was a demand of government which sought greater enablement of their ambitions of increased spending, but a demand that cared little about its effects on everyday citizens.
As the Dollar began devaluing at the hands of government and their expansionary monetary policy, means needed to be found for everyday citizens to preserve the value of their money, to placate people should they take exception to the subtle theft committed by government and seek unpleasant remedies for those crimes. The financial services industry, then a mere intermediary for those who sought to invest money as a means of taking part ownership in businesses, expanded in size and range of activity to keep abreast of the monetary devaluation and peoples’ desire to stay one step ahead of it.
Unfortunately, those new undertakings were not without peril. Crooks and con men of every variety arose to prey on people already in difficult positions. Despite efforts at reform and prevention taken up over the years, the unscrupulous and dishonest continue to rake in considerable amounts of dishonest wealth. Meanwhile, government continues to turn a blind eye toward their contribution to and enablement of this destruction, usually cavalierly calling these abuses a “cost of doing business” or vengefully characterizing it as “the typical example of unfettered Capitalism and its recklessness and wickedness,” neither of which are true but still inspire falsely premised laws and policies anyway.
Yes, something must surely be done, but it’s never anything regularly suggested.
Awaken yourself to the true causes of our problems! Resist the lure of the “reasonable”, easy explanations of political hacks whose ill repute matches that of shady financial villains!