patrick.net

The best way to teach this would be a clear demonstration of what a central bank is, why they exist, and how money is created in a fiat debt system. When you understand the very root of your economy is debt, the rest becomes pretty clear.

I agree. The Fed should also be taught about, though it rapidly gets confusing, which is part of the Fed's defense strategy. Security through obscurity.

What could a 3rd grader understand about it? Maybe this:

* The Federal Reserve creates money without doing any work.
* Everyone else has to work for money.
* Therefore everyone works for the Federal Reserve and has no choice in the matter.

Are you crazy? You want to sink the economy?

Ah I remember Economics and Business Math 101. I managed to take that and did quite well before dropping out.

Just pound it in their heads that they must buy a house as soon as possible and at any cost. It is the only way to avoid the poor house and it always works. As soon as possible, by all means, and at any cost.

www.youtube.com/embed/qesFpsi2mII

rando says

I agree. The Fed should also be taught about, though it rapidly gets confusing, which is part of the Fed's defense strategy.

I think high schoolers could understand treasury bond sales, how every dollar created requires a bond that promises to pay it back and then some 5, 10, or if the Fed gets there way 100 years from now. If people just know that money can't be created without increasing debt, that would be enough. Again, context is fiat economy.

a fool and his money are soon parted; why take away our fun!

Voucher system/school choice is the ONLY way you can get this taught.

The centralized public school system is obviously not going to go against the banker overlords. So the only hope is that parents can send thier kids to an indepedent private school, hopefully with vouchers, that will teach this and other 'forbidden' topics.

VOUCHER SYSTEM NOW

Unfortunately, many of our veterans are in debt. I have suggested to the VA that they offer a financial budgeting class for vets.

www.youtube.com/embed/F4p0Da_cbzQ

Democrats would never allow teaching fiscal responsibility in schools!

NuttBoxer says

rando says

I agree. The Fed should also be taught about, though it rapidly gets confusing, which is part of the Fed's defense strategy.

I think high schoolers could understand treasury bond sales, how every dollar created requires a bond that promises to pay it back and then some 5, 10, or if the Fed gets there way 100 years from now. If people just know that money can't be created without increasing debt, that would be enough. Again, context is fiat economy.

Some high schoolers could understand that, but it's pretty complicated. I bet a lot of them won't get it unless we start even earlier, so that first of all they even know what a bond is.

jvolstad says

Unfortunately, many of our veterans are in debt. I have suggested to the VA that they offer a financial budgeting class for vets.

www.youtube.com/embed/F4p0Da_cbzQ

Dave Ramsey will also tell you that no one with net worth of less than $1M should ever purchase a new vehicle due to depreciation.

If you want a nice vehicle and have stable finances, there are other options. We bought two late model BMWs through craigslist. You have to know what you're looking for and have the finances to take advantage of any opportunity if and when it presents itself. Avoid dealerships, for sales or service or anything at all. If you need a part, order it online and have it installed by an independent specialist.

zzyzzx says

Democrats would never allow teaching fiscal responsibility in schools!

You're right. Econ was required by the school district I came from but I'm told that is far from the norm. I don't know if it's required today.

Patrick says

Require simple clear elementary, middle, and high school classes on how to avoid getting trapped in debt

Most of it is common sense, and I don't think common sense can be learnt. True Anecdotal . e.g.

A Doctor couple I knew were heavily in debt because they just could not manage their finances. The hospital had to get them a financial analyst to help them, because it was interfering with their practice.
A garbage man I heard of had his small home in Riverside Ca, free and clear, and was debt free.
Moral of the examples:
The Doctors had brains, but no common sense. The garbage man, may not have had the brains, but he had a lot of common sense.
Go figure.

Patrick says

Patrick, this image is too disturbing. Please replace.

It is very sad, but it is also very real.

Debit is used to crush and kill people daily.

I'd rather leave it to make the point.

rando says

It is very sad, but it is also very real.

How can it be real?
People who are literally starving don't make payments on anything.

Maybe they should have classes on how to enslave others with debt to weed out those with no bankster aptitude.

Patrick, I used to think about solutions to causes that wreck people's lives. I gave it up.
Across human history on all continents, one thing remains the same and that is wealth transfer.
There are two forms of wealth transfer, one is the form of violence, the other is in the form of schemes. Debt is the scheme form of wealth transfer.
If you try to educate people to be aware of any form of scheme wealth transfer, you will end up getting the violent wealth transfer.
Because wealth transfer HAS to occur for two reasons.
1. Humans do NOT have natural enemies. If the entire human race live in harmony, human will grow out of balance. Nature ensures human destroy humans to conserve population. Wealth transfer is in the blood of humans in order to cause human to destroy each other.
2. Economic competition ensures there are winners and losers. Those who lose can NOT survive, and they will go think about how to transfer wealth from the winners. This is the famous Greenspan quote, "sound money is incompatible with democracy".

If wealth transfer HAS to occur, you would want it to happen under scheme form rather than violent form. Enticing/trick/force people into debt or casino is the scheme form of wealth transfer.

Above are my views of the debt.

I like the theory, but I think we can do better.

JZ says

Nature ensures human destroy humans to conserve population.

Feminism is extremely effective brith control. I'm not a great fan of it, but it does limit population.