RepublicanMother & Her Economics Class, Middle School
Explain how our National Debt is sold to the Federal Reserve... with the paper-money we just gifted to them. Who in turn sell it as US Treasury bonds to any that will buy them. These days, foreigners included. 2/3 of our cash is used in foreign countries along side of their own currency. Japan, then China have bought near a trillion each of Dollars that represent our National Debt in the form of Treasury Bonds.
Mention that our cash... the green stuff, is a promissory note. A bank note authorized & witnessed as a debt to be paid to the Federal Reserve Bank. Show Rosie Rios, US Treasurer as US Government Agent & Timmy G, US Secretary of Treasury as the witness sign below "Federal Reserve Note" & the nice portrait of a historic figure. Pass out a few $1 notes. Each note represents our National debt. A cash register receipt, if you can imagine.
Script: Class, I wish to give you a live demonstration of economics. May I please have a volunteer to hold things in place just in case.
The best laid plans of economics & men... In 2007, the whole world stood in shock as seemingly, the whole world economy shrank out of sight. What happened & where it went is to this day... still a mystery.
All right? And now.... [With magical drama & assistance, remove the painter's tarp which was covering the table setting.] I will show you. [Pull linen tablecloth representing the economy from underneath dinner place setting. Hide table cloth. Stare at someone showing disbelief.] The economy is gone... I don't know who did it... Nor where they hide the whole world economy... Nor will it be returned... But as I look back [Look over your shoulder.] The China is still there.
I don't know who did it. I don't know if they will bring it back..
Regards to you & your class,
Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul ☑
Want DP delivered to your inbox daily? Subscribe here: