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Barack Obama's List Of "20 Things Kids Need To Know" About Using Money

Tyler Durden's picture


The following charts are a summary taken from the "Money as you Grow" presentation prepared by the President's Advisory Council on Financial Capability (created by executive order). What it highlights are "20 Things kids need to know to live financially smart lives" and is Barack Obama's personal advice to children ages 3 through 18+ on how they should spend their money. The list, which includes among it such brilliant advice as "you may have to wait before you can buy something you want", "it can be cost and dangerous to share information online" (with the NSA), "putting money in a savings account will protect and pay you interest", "the sooner you save, the faster your money can grow from compound interest", "your first paycheck may seem smaller than expected since money is taken out for taxes", "you should use a credit card only if you can pay the money owed in full each month", and of course "you need health insurance" has been pulled straight from Bizarro Day, and literally redefines New Normal humor since everything it recommends is the opposite of how the real world now works.

So who is issuing this indispensable advice?

The President's Advisory Council on Financial Capability (PACFC) was created by Executive Order 13530, which was signed by President Barack Obama on January 29, 2010. Its charter is to advise the President on promoting and enhancing financial literacy and capability among the American people. While the President's Advisory Council on Financial Capability cannot by federal statute become operational, it is charged with providing financial capability policy recommendations for the nation to the President of the United States. One of the key objectives of the President's Advisory Council on Financial Capability is to find ways to improve the financial capability of young Americans.

The purpose of this website is to inspire families, community organizations, nonprofits, and businesses to embrace Money as You Grow as a tool to promote financial literacy. This website serves as a guide to learning about and using Money as You Grow. It is intended for reference only, and is not meant to endorse or promote specific initiatives.



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Thu, 03/06/2014 - 11:00 | 4516563 AlaricBalth
AlaricBalth's picture

The one thing kids need to know about money: Fiat currency is not money.

Thu, 03/06/2014 - 11:10 | 4516590 Pladizow
Pladizow's picture

Didnt Marx, Stalin, Lenin, Mugabe and Hitler have this same thing?

“Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked: 'Account overdrawn.'”  - Ayn Rand

“Watch money. Money is a barometer of a society’s virtue. When you see that trade is done not by consent but by compulsion, when you see that in order to produce you need to obtain permission from men who produce nothing, when you see that money is flowing to those who deal not in goods but in favors, when you see that men get richer by graft and by pull than by work and your laws do not protect you against them but protect them against you, when you see corruption being rewarded and honesty becoming a self sacrifice, you may know that your society is doomed.” – Ayn Rand, Atlas Shrugged

Thu, 03/06/2014 - 11:10 | 4516615 MillionDollarBonus_
MillionDollarBonus_'s picture

One of the things I like about this presentation is that it highlights the difference between “want” and “need”. The fine line that divides want is hotly debated by the American public and progressive scholars alike. I would argue that ‘needs’ are those basic things that one needs to live a dignified and comfortable life; a decent salary, healthcare, a home, a car and paid vacations. If private companies even began to meet the standards set by government jobs, we would see an enormous enhancement in living standards across the board, and many more people would have their basic needs met. 

Thu, 03/06/2014 - 11:13 | 4516629 Pladizow
Pladizow's picture

ZH "wants" and "needs" you to STFU!

Thu, 03/06/2014 - 11:20 | 4516663 linniepar
linniepar's picture

Compounding interest at a whopping 0.25%. What a fucking joke!

Thu, 03/06/2014 - 11:26 | 4516702 MillionDollarBonus_
MillionDollarBonus_'s picture

What matters is not simply return, but the return to risk ratio. Assets with superior risk reward profiles such as US Treasuries will alsways outperform in the long term.

Thu, 03/06/2014 - 11:30 | 4516723 linniepar
linniepar's picture

17.5 TRILLION dollars in debt. No thanks. Gold and silver ftw!

Thu, 03/06/2014 - 11:31 | 4516733 MillionDollarBonus_
MillionDollarBonus_'s picture

Having said that, if you're young and have a higher risk profile, I would suggest you invest primarily in equities in order to realize greater returns. Equities have a greater volatility, but economists have proven that equities always rise over the long term.

Thu, 03/06/2014 - 11:36 | 4516769 fonestar
fonestar's picture

Bits are money, everything else is bullshit.  If your gold isn't validated by the blockchain, it's fake.

Thu, 03/06/2014 - 11:42 | 4516801 Skateboarder
Skateboarder's picture

Even if your delusions were reality, I still have silver. ;)

This gubbamin 'money' guide is puke-inducing. What, you're supposed to stop skateboarding when you're 13? Assholes.

Thu, 03/06/2014 - 12:09 | 4516937 pods
pods's picture

I saw nothing in that little skit about where the FED gets the "money" to buy up treasuries?

Or exactly where the "money" comes from when they use a CC, get a car loan, mortgage, etc.

If those were explained we would have our Henry Ford moment:

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."


Thu, 03/06/2014 - 12:25 | 4517025 johnQpublic
johnQpublic's picture

MDB said: What matters is not simply return, but the return to risk ratio


unless return doesnt keep up with inflation

man, i just NEED to kick you down a flight of stairs

Thu, 03/06/2014 - 12:28 | 4517038 johnQpublic
johnQpublic's picture

my fav of this list

you make money by working


check your base obammy

they make money by collecting the fruits of the labor of others

36 days til i dont have to listen to this tripe anymore

Thu, 03/06/2014 - 12:55 | 4517174 CH1
CH1's picture

The hypocricy of this is stunning. Galactic.

Thu, 03/06/2014 - 13:34 | 4517371 Meat Hammer
Meat Hammer's picture

No mention of compound interest not keeping up with inflation.  Weird. Probably just an honest mistake.  It happens.

Thu, 03/06/2014 - 19:02 | 4519083 1000 splendid suns
1000 splendid suns's picture

And no mention of the government not adhering to the same rules, with $200T in unfunded liabilities or $8.5T unaccounted for at the Pentagon. Real sound money there, F'n banksters.

Thu, 03/06/2014 - 13:33 | 4517377 zaphod
zaphod's picture

Why does MDB always get so many downvotes. Everything he writes is so off the wall it is clearly making fun of liberal democrats. Have we fallen so far where even his comments requires a /sarc tag?

Thu, 03/06/2014 - 16:51 | 4518550 lrdrvrZH
lrdrvrZH's picture



yes, there are just too many folks out there like MDB that are serious in spouting drivel like that.

20 years ago we wouldn't have needed a 'sarcastic tag' but today......?


We live in an upside world. Right is left, up is down, correct is false. Who knows if MDB is sarcastic or not. I hope he is but I wouldn't swear to it.



Thu, 03/06/2014 - 12:26 | 4517027 DaddyO
DaddyO's picture

But Pods, they do know, unfortunately no one is willing to give up the pleasured lifestyle...

Self reliance is a quaint notion of a bygone era.


Thu, 03/06/2014 - 12:10 | 4516947 Indian_Goldsmith
Indian_Goldsmith's picture

What every one keeps missing is... The title says it all...

Need to Know


Thu, 03/06/2014 - 12:11 | 4516958 fonestar
fonestar's picture

Our "delusions" are spreading virally around the world.  The black market still has not caught on to the advantages of using BTC and when it does it's game over.

USD... buh-bye.

Thu, 03/06/2014 - 12:19 | 4516995 johnQpublic
johnQpublic's picture



(oops, capslock)

theres a saturday night live skit for this

Thu, 03/06/2014 - 11:42 | 4516803 mliu_01
mliu_01's picture

If you are me, you will have 4 trillion dollars to spend each year.

Thu, 03/06/2014 - 11:42 | 4516805 onewayticket2
onewayticket2's picture

Rule 21:

if you follow these rules and retain some wealth, said wealth will be taxed back to the federal government in a free stuff for votes scheme.  therefore:  disregard the prior 20 rules.

Thu, 03/06/2014 - 11:44 | 4516819 MillionDollarBonus_
MillionDollarBonus_'s picture

Sorry I don't buy the whole bitcoin scam. If I can't hold it and touch it, then it ain't real. Case closed. I want my money to be 'backed' by something. Dollars are backed by the full faith and credit of the US government. What are bitcoins backed by?

Thu, 03/06/2014 - 11:50 | 4516845 fonzannoon
fonzannoon's picture

Satoshi's 1996 toyota corolla

Thu, 03/06/2014 - 12:16 | 4516989 creeko
creeko's picture

Do not get between MDB and fonestar... maybe they will destroy each other in an epic ZH thread post death match.

Thu, 03/06/2014 - 12:20 | 4517003 johnQpublic
johnQpublic's picture

thread topic but best anyway

Thu, 03/06/2014 - 14:08 | 4517589 Blano
Blano's picture

Fonz FTW.

Thu, 03/06/2014 - 12:02 | 4516898 Bunders
Bunders's picture

The full faith and credit of the block chain and it's users?

Thu, 03/06/2014 - 12:06 | 4516921 fonestar
fonestar's picture

Yes!  Their blunders are corrected by Bunders!

Thu, 03/06/2014 - 12:12 | 4516963 rehypothecator
rehypothecator's picture

24.  Money is by definition a store of value.  Those pieces of paper with green ink on them, aren't it.  

25. When you deposit money in a bank, you are making an unsecured loan to that bank, at whatever interest rate the bank pays you.  If the bank were to go bankrupt, you get in line to receive your fraction whatever portion of the bank's assets are left, after the secured creditors are first repaid.

26. The only two sure things are death and taxes.  For taxes, we have the IRS.  For death, we have Obamacare.  Have a nice day.

Thu, 03/06/2014 - 12:39 | 4517100 Mercuryquicksilver
Mercuryquicksilver's picture

How do you hold and touch the full faith and credit of the US govt?

Thu, 03/06/2014 - 13:11 | 4517250 Bytor325
Bytor325's picture

Turn your head and cough..............

Thu, 03/06/2014 - 11:32 | 4516739 ParkAveFlasher
ParkAveFlasher's picture

You need to work to make money ... that's not a false statement, just ask the pinky that depresses "control" and the pointer that depresses "P".

Thu, 03/06/2014 - 11:41 | 4516786 linniepar
linniepar's picture


Thu, 03/06/2014 - 11:43 | 4516811 The Man in Room Five
The Man in Room Five's picture

^ gov employee troll. Someday soon people will decide they don't want yo' stinkin' monopoly money no mo'

Thu, 03/06/2014 - 14:03 | 4517552 csmith
csmith's picture

If I'm investing, why would I EVER invest in the non-productive entity (Treasury) which is FUNDED BY the productive one (corporate equity)? It's not a hard question.

Thu, 03/06/2014 - 14:09 | 4517607 csmith
csmith's picture

As an investor, why would I EVER want to own the non-productive entity (Treasury) that is FUNDED BY the productive one (corporate equity). Not a tough question.

Thu, 03/06/2014 - 11:26 | 4516705 Max Hunter
Max Hunter's picture

Financial responsibility advisement from the Government.. Yeah.. that makes sense..

Thu, 03/06/2014 - 11:31 | 4516729 ShorTed
ShorTed's picture

your savings account pays that high?  Lucky bastard.


Thu, 03/06/2014 - 15:59 | 4518273 Peanut Butter E...
Peanut Butter Engineer's picture

@Soberone, you are seriously joking me, my current saving interest is only 0.02%

.25% is ten times better than what I have.

Thu, 03/06/2014 - 15:59 | 4518274 Peanut Butter E...
Peanut Butter Engineer's picture

@Soberone, you are seriously joking me, my current saving interest is only 0.02%

.25% is ten times better than what I have.

Thu, 03/06/2014 - 16:45 | 4518533 lrdrvrZH
lrdrvrZH's picture

Yep, Savings accounts are 'return free risk' these days....

Thu, 03/06/2014 - 11:20 | 4516665 IridiumRebel
IridiumRebel's picture

We love MDB. Every "issue" needs a dissenting argument.

Thu, 03/06/2014 - 12:07 | 4516931 rehypothecator
rehypothecator's picture

Sarchasm (n) The wide and deep chasm between a sarcastic comment and the audience it is lost upon.  

Thu, 03/06/2014 - 11:17 | 4516647 GeezerGeek
GeezerGeek's picture

You forgot a few things: smartphone (fortunately, there's the Obamaphone); intenet access at home; food. Try living a "dignified and comfortable life" without these. Close behind, but not aboolutely necessary, are subscriptions to The Nation and The New Republic, because without those people might be tempted to lend credence to Ayn Rand, Hayek, Rothbard, Ron Paul, and (shudder) even Rush Limbaugh and Zero Hedge!

Thu, 03/06/2014 - 11:38 | 4516784 USA USA
USA USA's picture

Funny, I don't even read MDB (Micro Dollar Butthead) anymore before DOWN ARROWING!


Thu, 03/06/2014 - 11:28 | 4516715 Blano
Blano's picture

Cue the laugh track, our fave troll has arrived!!!

Thu, 03/06/2014 - 11:31 | 4516731 RafterManFMJ
RafterManFMJ's picture

1 You need money to buy things. - Odd, no mention of gold, which is money.

2 You work to earn money. - Yep, just like 0bongo did, and the ever expanding welfare consumer class.

3 You may have to wait to buy something ... - Yes, just like the .gov does.

4 There's a difference between needs and wants. - I need rims, kicks, and spinners.

5 You need to make choices about how to spend your money. - Sweet! So I guess the 50% the .gov steals and wastes as it sees fit, that practice will end, right?

I cannot continue ... Maybe those bankers really did jump.

Thu, 03/06/2014 - 11:57 | 4516876 lordylord
lordylord's picture

You NEED health insurance???  I'm still alive.  Apparently you don't need it.  Wouldn't be the first thing government has lied about.

Thu, 03/06/2014 - 12:17 | 4516991 pods
pods's picture

They should tell the FED those little rules.

Like, you have to work to get money. lol

So the FED can print work!

How bout they all just DIAF.

That will go a long way to solving our problems. And if it don't, it is a start.


Thu, 03/06/2014 - 11:39 | 4516787 sfisher
sfisher's picture


My apologies for prior negative comments to your posts.  I very much enjoy your wit and sarcasm.

Thanks for entertaining.



Thu, 03/06/2014 - 11:49 | 4516838 Cacete de Ouro
Cacete de Ouro's picture

Mistar milldolla, you so funny, I love you longtime...

Thu, 03/06/2014 - 12:07 | 4516925 Balanced Integer
Balanced Integer's picture

Goodness gracious, MDB. You could make a comfortable living writing a book entitled, "How To Troll Like A Boss!"

Have no doubt: Every time you make a post trolling ZH, I take notes. The amount of froth you whip up out of the ZH crowd is epic, my friend. Keep up the good work!

Thu, 03/06/2014 - 18:52 | 4519057 yepyep
yepyep's picture


Thu, 03/06/2014 - 11:55 | 4516864 VD
VD's picture


Thu, 03/06/2014 - 14:19 | 4517665 ZH11
ZH11's picture

Ah Ayn Rand the welfare claimant who  knew all about the value of money. Brilliant.

Thu, 03/06/2014 - 11:05 | 4516593 TheFourthStooge-ing
TheFourthStooge-ing's picture

Rule number one: spend the money of other people, not your own.

Thu, 03/06/2014 - 11:11 | 4516620 Rainman
Rainman's picture

Rule number two : you earn money by working .... the system.

Thu, 03/06/2014 - 11:11 | 4516624 nuclearsquid
nuclearsquid's picture

Plenty of things they got wrong...

Like interest. Is he suggesting that children by the deepest junk debt or sovereign PIGS paper?  He sure isn't talking about savings accounts.

Also, of course you don't have to wait to buy something.  Said child could just apply online from hundreds of credit card issues who would trip over themselves to provide unsecured sub teen debt.

Thu, 03/06/2014 - 11:29 | 4516712 Element
Element's picture

This is insane! kids taking money advice from these treacherous fantasy-addicted scum?


“...We are not here to heap mountains of debt on our children, and our grandchildren. That is what was done in the last eight years in the Bush administration. This budget calls a halt to that, and says NO! Says no more debt, we’re going in the opposite direction! ..."
- Nancy Pelosi, Speaker of the House, April 29th 2009

(right after Obama’s first 'Budget' passed)

Thu, 03/06/2014 - 11:48 | 4516837 chunga
chunga's picture

No mention of myRA?


Thu, 03/06/2014 - 11:56 | 4516865 Cacete de Ouro
Cacete de Ouro's picture

myPIGGYBank - fill it up with T-Bills

Thu, 03/06/2014 - 11:57 | 4516872 zerozulu
zerozulu's picture



21. Foods temp is as good as money.

Thu, 03/06/2014 - 11:05 | 4516594 Joe Davola
Joe Davola's picture

OK, if the council is not operational, who issued this?

Or does operational have a new meaning?

Thu, 03/06/2014 - 13:13 | 4517258 detached.amusement
detached.amusement's picture

depends on what the definition of "does" is

Thu, 03/06/2014 - 11:20 | 4516628 toady
toady's picture

That really is all they need to know. I'm teaching my boys to keep the fiat to the absolute minimum required to keep Johnny Law off their back. It helps that they get to spread their excess fiats on cool stuff, like guns, knives, and camping equipment.

Now that the oldest has a job (just turned 16, working part-time @ little ceasers), I've been getting him started on gold & silver. Well, just silver so far. He had an extra $100 or so from his first check, so he got five maple leafs from the coin shop.

Thu, 03/06/2014 - 11:21 | 4516671 AGuy
AGuy's picture

The most importing bit of information:

BHO: Every dollar you will ever earn during your lifetime has already been borrowed and spend. You have may have earned your income, but you don't get to spend it! Suck it up!


Thu, 03/06/2014 - 11:26 | 4516703 Freddie
Freddie's picture

Where are all the Dem tards on ZH who voted for this POS.  They all suck in Wash DC. 

Thu, 03/06/2014 - 11:36 | 4516751 ZH Snob
ZH Snob's picture

here's a project to try at school, kids.  if you can get elected treasurer you will be in charge of the money.  you can take whatever money has been collected for your school and use it to invest in the red hot stock market.  even a blind dog can instantly make profits.  before you know it you've accumulated enough cash to start your own online account.  at that point you can quietly return the money you borrowed and no one has to know about your new stock portfolio.  this is what adults call leveraging.

Thu, 03/06/2014 - 11:41 | 4516799 SheepDog-One
SheepDog-One's picture

Oblahblah HAS to address kids, that's the only group left that don't realize what a fuckup he is!

Thu, 03/06/2014 - 12:21 | 4517009 Lionhearted
Lionhearted's picture

First thing I taught my child about "money" gold and silver are money. Paper bills are currency.

Thu, 03/06/2014 - 12:31 | 4517034 Trucker Glock
Trucker Glock's picture

"The content on this site does not represent official policies of the United States Government or the United States Department of Treasury."



Thu, 03/06/2014 - 13:23 | 4517310 logicalman
logicalman's picture

Only gold is money, everything else is credit - J. P. Morgan

Silver works too, IMHO.

Thu, 03/06/2014 - 11:00 | 4516565 IridiumRebel
IridiumRebel's picture

Next up? Bill Clinton's Top 20 on "How to Stay Faithful to Your Wife".

Thu, 03/06/2014 - 11:02 | 4516573 fonzannoon
fonzannoon's picture

why do you need health insurance at 18 when you can stay on your parents plan until you are 40?

Thu, 03/06/2014 - 11:10 | 4516602 BLOTTO
BLOTTO's picture

Point #1 and the most important of all to be driven into the noodle starting at 3 years old -

<cups hands to mouth and shouts> 'You NEED Money.'


Because 'they' know that after the 1st point...the masses stop reading


Thu, 03/06/2014 - 11:14 | 4516633 BLOTTO
BLOTTO's picture

It couldve been summarized in 5 points.

First 3 are perfect

1) Need Money

2) Work (for money)

3) Buy (spend money)

*4) Consume

*5) Die

The end.


How's that going for your spiritual journey and quest for knowledge on this planet?

Thu, 03/06/2014 - 11:18 | 4516656 IridiumRebel
IridiumRebel's picture

#14 Avoid using credit cards and pay cash (Targeted at 14-18 yr olds)

Aren't folks under the age of 18 not allowed to receive credit cards? I am sure that Chase would love to change the rules on this, but seriously?

Thu, 03/06/2014 - 11:33 | 4516749 ParkAveFlasher
ParkAveFlasher's picture

I believe they call that a "tell" in card playing.

Thu, 03/06/2014 - 11:01 | 4516566 LetThemEatRand
LetThemEatRand's picture

21.  If you're reading this, you're not part of the Club.  Get to work, serf.

Thu, 03/06/2014 - 11:01 | 4516568 Robot Traders Mom
Robot Traders Mom's picture

Most adults wouldn't understand this, let alone kids...



Thu, 03/06/2014 - 11:01 | 4516570 GumbyMe
GumbyMe's picture

21. Never entrust your money to the government.

Thu, 03/06/2014 - 11:02 | 4516572 Jreb
Jreb's picture

Savings accounts? Compund intrest? ROTFL!

Thu, 03/06/2014 - 11:02 | 4516577 BKbroiler
BKbroiler's picture

seems like fairly good advice.  but let's hear the hysteria about how this is socialist brainwashing for sheeple who don't own gold.

Thu, 03/06/2014 - 11:04 | 4516588 ShrNfr
ShrNfr's picture

When you have zirp, you get inflation-1% interest at best. Putting money into bank accounts results in less money to spend later.

Thu, 03/06/2014 - 11:23 | 4516682 BKbroiler
BKbroiler's picture

So putting money in the bank is bad advice for 6-10 year olds?  Should they be tradiing stocks or hiding gold in their legos instead?

Thu, 03/06/2014 - 11:35 | 4516761 Blano
Blano's picture

Saving isn't bad, but putting it in banks?  Better off putting it in Bank of Sealy.

Thu, 03/06/2014 - 13:26 | 4517326 logicalman
logicalman's picture

If you put money in a bank, it is no longer yours, but belongs to the bank until you withdraw it.

Bank of Piggy for youngsters.

You might get ripped off by burglars. You will for sure be ripped off if you trust banks.

Thu, 03/06/2014 - 14:26 | 4517717 Blano
Blano's picture

Will take my chances with burglars, at least I can shoot them.

Thu, 03/06/2014 - 11:36 | 4516767 fonzannoon
fonzannoon's picture

I'm not junking you but giving your money to someone and getting 0% and then having the same place loan you money at 18% interest is not a scenario I would want a young person getting used to.

Thu, 03/06/2014 - 11:50 | 4516831 BKbroiler
BKbroiler's picture

well I appreciate that, downvotes are the price for not walking lockstep with the new ZH groupthink.  While I agree of course about current bank interest, interest rates historically have returned more than inflation, so telling a 6 year old to keep his money in the bank doesn't seem like the worst advice.  The chances of interset rates staying at zero for more than another few years is doubtful. 

Thu, 03/06/2014 - 13:16 | 4517278 detached.amusement
detached.amusement's picture

you need to expand your concept of "historically"

Thu, 03/06/2014 - 14:28 | 4517731 Blano
Blano's picture

You may be right about zero, but even if rates "surge" to 1% that ain't exactly bright thinking to keep your money there anyways.

Thu, 03/06/2014 - 11:44 | 4516817 Jreb
Jreb's picture

I think a better thing to do would to be to teach them TRUTH about how the monetary and banking system really works. Then let them decide how the hell to preserve their wealth in the midst of the lies and fraud like the rest of us have to. Better advice don't you think?

Thu, 03/06/2014 - 11:51 | 4516849 fonzannoon
fonzannoon's picture

at age 6 you are going to hit them with that?

Thu, 03/06/2014 - 13:05 | 4517225 Drachma
Drachma's picture

No big deal. My 7-year old knows the difference between an IOU and real money. Now if I can only just teach him to understand the integral importance of a boating accident while carrying said monies, then the circle of wisdom shall be complete. :-)

Thu, 03/06/2014 - 13:28 | 4517344 logicalman
logicalman's picture

Kids should be brought up to deal with the REAL world, not the fantasies peddled by gov & MSM

Just start gently!

Thu, 03/06/2014 - 11:55 | 4516861 BKbroiler
BKbroiler's picture

Someone once told me that the only differencd between americans and russians is that the russians are aware their government is screwing them.  You can teach the kids the system is parasitic, and that's a good lesson, but one that could probably wait a few years so you don't turn him into Alex Jones.  But if you preach about hard money, have your kid put all their money in silver and gold (or stocks for that matter), and then the price crashes, all this fundamentalism is worthless, because he lost his money.  He doesn't give a shit what Ron Paul says.  You may lose a little to inflation, but the bank is a much safer place to put money for a 6-10 year old than any other option.  Apparently this slice of logic deserves 10 downvotes in 3 minutes.

Thu, 03/06/2014 - 12:05 | 4516912 ParkAveFlasher
ParkAveFlasher's picture

I can't even explain price control regimes to adults, how do I explain that keeping your money in cash will only preserve buying power by domination of market access by the cabal that issues the money? 

Thu, 03/06/2014 - 11:16 | 4516627 NoDebt
NoDebt's picture

I do debt counseling work on the side sometimes.  Not for money, just helping people out.  People who have $10K in credit card debt, can't pay their rent and do all their banking at the local 7-11 (money orders) and check cashing stores.  Forget knowing about interest rates or how to balance a check book, what if you didn't even know what a checking account WAS?

This kind of information, basic through it might be, would be leaps and bounds beyond their understanding.  It's pretty shocking, actually.  We'll teach little kids about sex ed in school, make them read books about having "two mommies".... but never a word about something so critically important as money.  Nope, just chuck them out in the world without a CLUE.

I've offered to teach a class at the local elementary, middle and high school.... you can imagine the warm response I got to that offer!

Thu, 03/06/2014 - 11:22 | 4516675 Buckaroo Banzai
Buckaroo Banzai's picture

"Sex Education" is all about teaching kids HOW to have sex so they can start having it right away, thus entrapping them into the prole class. For how else can we explain the results?

Never forget that our public education system is designed and operated to RUIN young people's futures. So why on earth would they teach them the first thing about money??

Thu, 03/06/2014 - 11:33 | 4516747 NoDebt
NoDebt's picture

Yep, and it's working like a charm.  I would bet you that right now, today, 80% of the people in the US have a negative net worth.  Not that they would even know what that means, but the effect of it is the same whether you understand it or not.

Thu, 03/06/2014 - 11:53 | 4516856 Sauk Leader
Sauk Leader's picture

My high school had a class called consumer economics that every senior had to take. You had to learn to file your own tax return, balance a checkbook, learn how credit cards and bank accounts work and then you had to develop a monthly household budget. If you didn't get a B or Higher in the class, you didnt graduate, period. Why isnt this required everywhere?


Thu, 03/06/2014 - 11:02 | 4516578 ShrNfr
ShrNfr's picture

"You need health insurance"? Why? You can be on mommy & daddy's health plan till you are 26. But anyway, bottom line is that you need somebody else to pay for it.

Thu, 03/06/2014 - 11:02 | 4516579 Calculus99
Calculus99's picture

22. Don't trust a word your government says, they don't have your best interests at heart, although they'll tell you time and time again they do...

Thu, 03/06/2014 - 11:02 | 4516580 astoriajoe
astoriajoe's picture

I wonder how much this cost..

Please, don't tell me.

Thu, 03/06/2014 - 11:32 | 4516738 Typing Typer
Typing Typer's picture

I don't know how much the charts cost, but I know one plate costs $2 million:

"On Thursday, the U.S.D.A. unveiled a new plate-shaped nutrition icon... at a reported cost of $2 million"

Thu, 03/06/2014 - 11:03 | 4516584 Rainman
Rainman's picture

I quit reading after #1 < " you need money to buy things " >

Thu, 03/06/2014 - 11:05 | 4516596 ShrNfr
ShrNfr's picture

With Obama, it should read "It is only fair that you use other people's money to buy things."

Thu, 03/06/2014 - 11:08 | 4516610 spacehedgie
spacehedgie's picture

I think even more revealing of the intended audience was #2 - you earn money by working.

This edition is clearly intended for the proles. I'm sure the Ivy League edition is slightly different. You earn money by inheriting, or you earn money by participating in schemes which print their own money and let the taxpayers pick up the tab.

Thu, 03/06/2014 - 11:04 | 4516587 LawsofPhysics
LawsofPhysics's picture

Savings accounts pay interest?  LMFAO!!!  Since when?

Thu, 03/06/2014 - 11:05 | 4516597 OwnSilverPlayMusic
OwnSilverPlayMusic's picture

Savings accounts pay interest?  What is this, 1995?

Thu, 03/06/2014 - 11:17 | 4516600 Quinvarius
Quinvarius's picture

Now you know the USD is about to become worthless.  The government feels the need to educate kids to stay in the banking system.  All they are doing is making them look harder at it.  That is not a good choice for this giant, BS, not functional, ponzi scheme.

Thu, 03/06/2014 - 11:07 | 4516605 villainvomit
villainvomit's picture

No mention of fractional reserve banking and leverage used by those who hold your federal reserve notes in your savings account that pays no interest ?

No mention on how the govt spends money it cannot pay for at the end of the month ?  I mean can never pay off ?

I'm shocked !

Thu, 03/06/2014 - 12:30 | 4517054 RiverDrifter
RiverDrifter's picture

It's just have to read between the lines a bit.  For every dollar, save a dime?  This is what banks do....for ever dollar deposited, save ten cents & recklessly loan out ninety cents.

Thu, 03/06/2014 - 14:29 | 4517740 Black Warrior W...
Black Warrior Waterdog's picture

It's more like save 3 cents and loan out 97 cents.

Thu, 03/06/2014 - 11:11 | 4516618 Sleepless Knight
Sleepless Knight's picture

Back in the 60's this is not bad advice.

Thu, 03/06/2014 - 11:11 | 4516619 fooshorter
fooshorter's picture

23. Guns are evil anyone who has a gun is a psychopath waiting to mowdown a crowd of people. For National security only your government should have guns. If you read in history about dictators who took away guns and committed genocide on their people, react with ignorance and apathy.

Thu, 03/06/2014 - 11:12 | 4516621 TWSceptic
TWSceptic's picture

If Obama would apply some of these rules to himself and his administration, he/they would be in jail.

Thu, 03/06/2014 - 11:14 | 4516637 Thucydides
Thucydides's picture

"If you like your money, you can keep it"

Thu, 03/06/2014 - 11:15 | 4516639 Cocomaan
Cocomaan's picture

Does a teen really need health insurance? They can just go to the emergency room for an emergency (the only real healthcare they need), and have no assets to garnish.

Thu, 03/06/2014 - 11:15 | 4516641 alfred b.
alfred b.'s picture why didn't he just cut to the chase and tell them that, under my administration either JPM or GS will end up with ALL your money.

      Whhhat...too honest???


Thu, 03/06/2014 - 11:15 | 4516644 Seasmoke
Seasmoke's picture

For Goyim Eyes ONLY..

Thu, 03/06/2014 - 11:17 | 4516649 killallthefiat
killallthefiat's picture

This is a great teaching tool.  My home schooled children and I will discuss what is fact ("You need money to buy things" and what can function as money) and what is propaganda ("A great place to save money is a Roth IRA, slave.")

Thu, 03/06/2014 - 11:33 | 4516748 Ivan K
Ivan K's picture

It would be interesting to come up with the Zero Hedge Guide to Money (in a non-sarcastic sense) that could be used as an actual teaching tool/reference in an FAQ:

1) The world doesn't owe you a thing.
2) You need to offer value to someone in order to earn currency that can be exchanged for goods and services. This can be through starting a business (entrepreneur) or exchanging your time on this earth for currency helping others execute their business plans & dreams (employee).
3) Fiat is currency, not money


Thu, 03/06/2014 - 14:34 | 4517776 GCT
GCT's picture

Ivan that is a great Idea actually.  Until 2008 I thought of gold and silver as only a commodity and I have bought and sold it for 28 years then. 2008 woke me up and I have not been the same.  ZH and some other sites helped with the awakening.  A couple of those items in the gov phamphlet make sense.  The problem is we no longer teach what it means to need something vs wanting something.  Why?  Because in America now the media and education promises young people they can have everything I have as soon as they graduate from college, even though I am 62.  Then they get bitch slapped with the new debt they owe.  We must spend to grow and if people knew the difference between a want and a need the GDP would collapse. 

I think one of the Tyler's should indeed post an article concerning this.  Many come here and get scared off by the commenters.  I did not even register until 2010 because you all are killers.  Having said that a simple article that a parent could actually download and discuss would be super.  Of course most parents would need to study it first as they pretty do not know either.  Compound interest was once a very powerful tool that we working stiffs can no longer take advantage of with savngs accounts.  I spit my coffeee on the moitor when I read that one!

I hope someone does indeed post an article or a recap of the smart commenters here on ZH on what children should actually do.  I died laughing about you must work to make money!  Shit be a single female drop a child and money just falls out of the gov pockets to help you.  Follow the link!  Explicit for those at work! 

Let the down arrows reign!

Thu, 03/06/2014 - 11:19 | 4516652 yogibear
yogibear's picture

"20 Things Kids Need To Know" About Using Money"

One goal...

Become a legal counterfeiter by being one of the top banksters.

Being a Federal Reserve  president.

Thu, 03/06/2014 - 11:22 | 4516673 IBelieveInMagic
IBelieveInMagic's picture

They are openly laughing at us :) Ballsy!

Thu, 03/06/2014 - 11:21 | 4516669 Seasmoke
Seasmoke's picture

Seems like they are trying to scare online transactions.....sales tax ???

Thu, 03/06/2014 - 11:22 | 4516676 moneybots
moneybots's picture

 "putting money in a savings account will protect and pay you interest", "the sooner you save, the faster your money can grow from compound interest"


What is the compound interest on ZIRP?  Pretty much a big fat zero.

Thu, 03/06/2014 - 11:23 | 4516680 Sardonicus
Sardonicus's picture

It doesn't say anything about the weather?

Thu, 03/06/2014 - 11:23 | 4516681 whatthecurtains
whatthecurtains's picture

"save a dime for every dollar you receive"


IS that before or after taxes?

Thu, 03/06/2014 - 11:37 | 4516776 ParkAveFlasher
ParkAveFlasher's picture

Reminds me of tithing, not only in the amount (10%) but also in the sense of issuing holy dictum.

Thu, 03/06/2014 - 13:33 | 4517375 detached.amusement
detached.amusement's picture

that advice is at least as old as marcus aurelius

Thu, 03/06/2014 - 14:31 | 4517746 Blano
Blano's picture

It reminded me of tithing too, til I reminded myself we're dealing with a bunch of Godless Commies in D.C.

Fri, 03/07/2014 - 04:52 | 4520382 Kobe Beef
Kobe Beef's picture

Don't pay taxes. Save that instead.

Thu, 03/06/2014 - 11:23 | 4516685 NYPoke
NYPoke's picture

Reminds me of the Physical Fitness Program, pushed by Nixon in the early 70s.


Push by fat, cigar smoking, alcoholic, whore mongers.

Thu, 03/06/2014 - 11:31 | 4516737 samsara
samsara's picture

Z12 I am ready to go.....

Thu, 03/06/2014 - 11:24 | 4516689 deerhunter
deerhunter's picture

i picked fruit all summer in 1968 and bought my first shotgun with money I earned.  It was a proud 13 year old that walked out of that gun store.  I recall passbook savings account paid 4 or 5% as well.  Dad was a machinist and mom worked in a nursing home kitchen and they raised 7 of us kids.  After 13 we helped out buying school clothes.  We all worked in restaurants or grocery stores when we reached 16..  It is the way things were.  Now I see 8 and 9 year olds with smart phones and the corresponding 100 bucks a month fees and I shudder.  I don't have all the answers or most days none of them but the America I grew up in and cherished is no where to be found except maybe 100 plus miles from any coast or major metropolis.  I work in a metro area of over 10 million people due to my chosen career however happiness will be that city in my rear view mirror.  I think there is a universal truth in that if it is worth having it is worth working and waiting for but what the heck do I know.  I do know this the older I get the more I sound like my parents.  Good day all.

Thu, 03/06/2014 - 11:24 | 4516690 deerhunter
deerhunter's picture

i picked fruit all summer in 1968 and bought my first shotgun with money I earned.  It was a proud 13 year old that walked out of that gun store.  I recall passbook savings account paid 4 or 5% as well.  Dad was a machinist and mom worked in a nursing home kitchen and they raised 7 of us kids.  After 13 we helped out buying school clothes.  We all worked in restaurants or grocery stores when we reached 16..  It is the way things were.  Now I see 8 and 9 year olds with smart phones and the corresponding 100 bucks a month fees and I shudder.  I don't have all the answers or most days none of them but the America I grew up in and cherished is no where to be found except maybe 100 plus miles from any coast or major metropolis.  I work in a metro area of over 10 million people due to my chosen career however happiness will be that city in my rear view mirror.  I think there is a universal truth in that if it is worth having it is worth working and waiting for but what the heck do I know.  I do know this the older I get the more I sound like my parents.  Good day all.

Thu, 03/06/2014 - 11:24 | 4516691 deerhunter
deerhunter's picture

i picked fruit all summer in 1968 and bought my first shotgun with money I earned.  It was a proud 13 year old that walked out of that gun store.  I recall passbook savings account paid 4 or 5% as well.  Dad was a machinist and mom worked in a nursing home kitchen and they raised 7 of us kids.  After 13 we helped out buying school clothes.  We all worked in restaurants or grocery stores when we reached 16..  It is the way things were.  Now I see 8 and 9 year olds with smart phones and the corresponding 100 bucks a month fees and I shudder.  I don't have all the answers or most days none of them but the America I grew up in and cherished is no where to be found except maybe 100 plus miles from any coast or major metropolis.  I work in a metro area of over 10 million people due to my chosen career however happiness will be that city in my rear view mirror.  I think there is a universal truth in that if it is worth having it is worth working and waiting for but what the heck do I know.  I do know this the older I get the more I sound like my parents.  Good day all.

Thu, 03/06/2014 - 11:39 | 4516792 ParkAveFlasher
ParkAveFlasher's picture

+1 x3

Thu, 03/06/2014 - 12:13 | 4516966 F.A. Hayek
F.A. Hayek's picture

I've read some of your other posts, and I admire your viewpoint and I feel the same nostalgia for more innocent times where hard work, determination and self reliance are all anyone really ever needed. Our only hope is that these sentiments aren't totally dead today in America, although I doubt it.

Thu, 03/06/2014 - 11:25 | 4516694 BadDog
BadDog's picture

Annnd... it's gone

Thu, 03/06/2014 - 11:26 | 4516699 Spastica Rex
Spastica Rex's picture

There's a difference between the things you want and need.

Unless it's made by Apple or BMW.

Thu, 03/06/2014 - 11:26 | 4516707 ElvisDog
ElvisDog's picture

People may poo-poo this list, but most of what's on there is good advice.

Thu, 03/06/2014 - 11:31 | 4516734 BeetleBailey
BeetleBailey's picture

Problem is, Fuckbama doesn't follow what he placards.....the fuck

Thu, 03/06/2014 - 11:28 | 4516708 Quinvarius
Quinvarius's picture

Number 21:  Hoard food, cigarettes, and alcohol.  If you plan on long distance trade, international trade, or completely running and relocating, hoard gold.  These have proven to remain real money when fake money dies.  1-20 were total horseshit.

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