16 votes

U.S. Treasury Tries to Con Kids

I had to laugh when I read about the U.S. Treasury's Ready. Save. Grow. campaign, designed to get kids to save money.
http://www.treasurydirect.gov/readysavegrow/newsroom/SaveOut...
What's the use of encouraging kids to save money when the banks pay interest rates below the rate of inflation?
The campaign would better be touted as the Ready. Save. Gone. program because Americans lose pennies every time they save a dollar.
Reminded me of this video:
http://caps.fool.com/Blogs/the-importance-of-saving/230985
I suspect that by the time today's children reach adulthood their savings will be worth-less, much less, with the way Congress is spending and the Federal Reserve is devaluing the dollar.
Imagine that a kid puts $1,000 into a savings account. With the 2 percent annual inflation rate targeted by the Federal Reserve, over 20 years, that $1,000 will have 40 percent less purchasing power.
The U.S. Treasury might want to include that disclaimer in its Ready. Save. Grow. campaign.

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Give me back my money!

http://www.youtube.com/watch?v=1wzTdW5_2vo&feature=related

When we try to pick out anything by itself, we find it hitched to everything else in the Universe.
~ John Muir

The dollar I put in my piggy bank in 1975...

Would have gotten me (as advertised) a burger, fries and a coke at McDonald's...with change back from my dollar...

Now I'm gonna pull it out to get lunch tomorrow....questions?

Wha? .....hey....who stole my country?

Cyril's picture

I wish I could go to every single of these kids & explain them

I wish I could go to every single of these kids and explain them HOW THEY CAN ACTUALLY SAVE by converting those worthless pennies and dollars into nice and shiny silver coins.

Two hours ago, my wife got us delivered a 1 oz .999 silver coin (surprise gift) with Ron Paul portrait on it, from our last order. My woman rocks :)

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius