Alex Kekovski
ECO-101-099WB
Professor N. Lubarsky
Term Paper

There were several interesting topics in this course so it is hard to pin down just one to write about. For the sake of the assignment, I have chosen topic fourteen which is about “Money, Banking, and Financial Institutions.” There a lot of reasons I find this topic most interesting but I’m only going to focus on two. The first, is that I have plans to get my bachelor’s degree in finance and pursue a career in the finance. Secondly, I feel that our financial institutions are flawed and need major overhaul or to be completely dissolved. Over the years in my professional career, I’ve seen a shift of the executives that hold high positions in companies go from people with degrees in Marketing and Business Management to people with degrees in Finance. The reason for this shift is obvious; companies want executives who can understand the numbers and make the company profitable. Whereas the former executives just knew how to market the company, but not necessarily manipulate and drive the numbers. I have over 10 years of sales experience. I expect that coupling my experience with a degree in Finance could propel my career to new heights. I would be considered someone who understands what is needed to drive sales and someone who understands the numbers that move the bottom line. I am interested in familiarizing myself with all the different aspects of the financial world. I would like to understand how other countries deal with matters financially. Thus, I eagerly travel abroad so I could be able to relate the financial aspects of other countries to our own. Another reason why I am interested in finance is because I want to learn more about the stock market. As of now, I would consider myself an amateur when it comes to understanding how the stock market works. When I was growing up and really started to understand the value of money, I wanted to work on Wall Street. I always saw stories and videos of these multimillionaires that made all their money on the stock market and working on Wall Street, so I wanted to be one of them. It wasn’t until later in life that I realized how corrupt Wall Street actually is. From financial institutions manipulating the price of gold and silver, to gold being traded on the markets without being backed the actual metal itself, to recorded bonuses to high positioned executives during one of the U.S. major financial crisis, to a national debt that is basically dooming my future children’s future; the list can go on. It’s apparent that there needs to be a major overhaul of these institutions. In my debt crisis assignment, I eluded to the fact that I think the Federal Reserve should be shut down. The Federal Reserve has been systematically destroying the value of the dollar and millions of Americans retirement funds. The United States never had a persistent, ongoing problem with inflation until the Federal Reserve was created in 1913 and this can be corroborated by U.S. inflation charts. The Federal Reserve penalizes those that try to save their money. Inflation is a tax, and the value of each one of our dollars goes down a little bit more every single day. Contrary to popular belief, the Fed is not a Federal institution but in fact a privately owned institution. Even the Fed itself argued in court that it is not an agency of the government. We should not allow an entity that is owned and manipulated by the banks to make decisions that affect the lives of everyday Americans. A perfect example of how detrimental the Fed actually is, was in the Debt Crisis, where Greenspan decided to lower interest rates to keep the economy stable but actually started a snowball effect to the debt crisis we actually experienced. One President did try to take on the Federal Reserve and shut it down; John F Kennedy. Executive Order 11110 was basically JFK’s way of transfer power from the Federal Reserve to the United States Department of the Treasury. If you’re a conspiracy theorist, you might believe that his assassination was a direct result of this. I’m not sure how much longer America can remain being a superpower with the powers that are currently in charge. There is a lot of good about this country but on the other hand there is a lot of corruption that, unfortunately, is the nature of their business. Hopefully throughout my career, I can climb the ranks of some major corporations and have the capability to make some major changes for the good of the American people.