The Kid was Just Practicing “Monetary Policy”

January 13, 2020

That he probably had just learned about in school, and got in trouble for it.

Background: We sometimes meet friends of ours for good, cheap Italian food at a place in our town called the “Silverball Pinball Museum.”  (The owner is a New Jersey Italian, so his grandmother would spin in her grave if his restaurant’s Italian cooking was sub-par).  Our friends brought their 11-year-old grandson and one of his pals, who caused a bit of a stir with the management.  The boy had pockets full of fake $100 bills that had a little Chinese writing in one corner.  He went up to the second-floor balcony and began throwing the bills down into the crowded room of pinball players.  (Helicopter Ben Bernanke probably did the same thing as a lad, and may be still doing it in “retirement”).  The manager was all in a huff over it, talking about “breaking the law,” etc.  I just said to him the kid was just practicing monetary policy, everyone laughed, and the cops were not called.

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Dr. Thomas DiLorenzo [send him mail] is a former professor of economics at Loyola University Maryland and a longtime member of the senior faculty of the Mises Institute. He is the author or co-author of eighteen books including The Real LincolnHow Capitalism Saved AmericaLincoln UnmaskedHamilton's CurseOrganized Crime: The Unvarnished Truth About GovernmentThe Problem with Socialism; and The Politically-Incorrect Guide to Economics