My 7 Year Old Niece's Homework Assignment, A Lesson in Austrian Economics!Submitted by RobHino on Mon, 11/26/2012 - 12:30
The PERFECT opportunity to discuss sound money with my 7 year old niece arose when she asked for help with her homework assignment. After we called and talked to Grandpa, I told her the following story:
"The reason Grandpa used to only have to pay $0.50 to go to the movies when he was a little kid like you was because he had special money! This special money was made of real gold and silver like mommy's necklaces and rings!
You know how daddy is a welder? He welds metal right? Well the money that daddy and Uncle Robbie use is made of regular metal like the kind Daddy welds.
Which money do you think was worth more, Grandpa's money that was made from gold and silver like mommy's jewelry OR Daddy's money that is made from regular metal like the kind he welds?
That's why it only cost Grandpa $0.50 to go to the movies when he was a kid. It's because his money was real money, not fake money. Just how pirates and leprechauns like treasure and gold coins, that is how all people used to buy things a long time ago, with real gold and silver coins!
Which would you rather have, a real silver coin like this (showed her a Silver Eagle and a 1964 quarter) or a metal coin like your Chuck E. Cheese tokens (showed her a Chuck E. Cheese token and a current quarter)?"
End of story...
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