I simply have to share this story.
Last spring I gave each of the 6 graduating students of the school where my children attend, two real silver dollars. I did this because it represented what I thought were true values instilled in them at this private classical christian school.
Well, this last week, my son told me that one of the girls in his class cashed in her two dollars at the bank for… you guessed it… two plain paper dollars.
It’s sad, really pathetic, that this girl didn’t know the difference in value between an irredemable paper note and a solid ounce of pure .999 fine silver.
It really takes me back and makes me want to discuss this with the board and principle of the school. People just don’t know what the difference is between money and credit anymore. People just aren’t being taught, even at some of our best private schools.
Well, maybe this financial collapse will teach us a lesson to remember.
Though I slam the Zeitgeist Addendum movie in my previous blog, the first hour of that film is actually an excellent introduction to modern ecconomics and I highly recommend the first half of that movie.