Anti-Austrianism: Get ‘Em While They’re Young

Friday, October 31, 2003
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Some German teenagers have started a new form of currency called the chiemgauer, named after the region where they live. Just like their teachers – the government – these kids have gone and printed fiat money, not tied to anything, with no real value.

The author never once mentions what underlying value there is (or isn’t) to the money, but she says: “It’s also serving as a lesson in the intrinsic value of money.” Ahem.

It turns out that the real lesson behind the money project is protectionism, that is, “keeping the money in the region,” and limiting the purchase of imported goods by the local consumers and merchants.

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