The Rules Have Changed

The old rules of money changed in 1971 when Richard Nixon removed the gold backing of our dollar. Money, which used to be backed by gold, became currency, backed by nothing but faith in the U.S. government.

In his daily Dow Theory Letters, Richard Russell sheds light on how these economic changes are affecting our lives.

Last week Russell shared a fascinating article by Paul Craig Roberts, Watching the Dollar Die. Roberts explains in his article that, without a gold standard, the dollar’s value is dropping like a rock. Inflation skyrockets and the Federal Reserve resorts to printing massive amounts of “money.” In fact, they’re printing so many paper dollars that the Federal Reserve stated in March 2006 that they will no longer publicize how much M3 currency they’re putting into circulation. The more they print, the less it’s worth!

Those who are playing by the old rules of “save money” and “diversify for the long term” will painfully see that this is a new game where the old rules do not apply.

Pioneering homeschoolers need to lead the movement for a relevant financial literacy which teaches our kids the new rules of money and prepares them for the economy they will encounter.

Homeschooling Illegal in California

Homeschooling parents must now be certified by the state of California in order to teach their own children. So says Judge H. Walter Croskey of Los Angeles in a new ruling published February 28, 2008. California Governor, Arnold Schwarzenegger, opposes this ruling.

Looks like California is retreating back to the Dark Ages. I went through this scenario way back in 1981 when I was denied permission by a Colorado school district to homeschool my own children because I did not have an official state teaching certificate. I took a few college courses to become state-certified and then permission was granted. I was automatically qualified! Fortunately, the emerging homeschool group worked with the state to eventually overturn such nonsense.

California should deal with individual abuses of freedom rather than outlaw the entire homeschooling movement. Michael Farris, president of HSLDA (Homeschooling Legal Defense Association) says, "At the heart of this case is a distrust of parents."

Please join HSLDA's petition to oppose this ruling.

John Taylor Gatto spoke about “The Weapons of Mass Instruction” last weekend at HENA's (Home Educators Network of Arizona) homeschooling conference. For those of you who may not know, Mr. Gatto was a public school teacher for over 30 years and even became New York State Teacher of the Year. After winning the award, he quit teaching because he was “tired of hurting kids.”

Mr. Gatto shared stories of how colorful characters like Richard Branson, Diablo Cody (Academy Award winner for the movie Juno) learned real-life lessons far from a school classroom. These experiences helped propel them to real-world success.

I later shared how homeschoolers have a unique opportunity to teach their children real-life lessons which will enable them to take control of their financial life. The Rich Dad Company provides the tools to become financially free.