12-year old Victoria Grant explains why her homeland, Canada, and most of the world, is in debt. April 27, 2012 at the Public Banking in America Conference, Philadelphia, PA. Support a public bank for YOUR state. Donate and make it happen! (by publicbankingtv)
So when Victoria needed a topic for a speech competition organized by the Association of Christian Schools International, she chose banking. “It doesn’t sound right,” Victoria says, “that the government, like, has been borrowing from private banks and putting us into debt.”
Indeed, the Grant family, including brothers Joshua, 8, and Ethan, 5, troop down to the basement after their 5:30 dinner a few times a week, write on a white board, share new ideas and learn new words. For a while they were working on fractional reserve lending, where banks hold only a fraction of customers’ deposits in reserve.
They watched videos on the history of banking in Canada. They played a banking game to illustrate how banks fail. Using silver coins he buys for the kids every month, Grant played the banker, accepting coins each child deposited. Then his wife asked for a loan and got it. The kids asked to withdraw their money and, voilà — no cash in the bank.
It isn’t all economics talk in the Grant household. Victoria did competitive gymnastics and now plays soccer. They go camping in the summer. Friday night they were at Cirque du Soleil. Victoria likes to design clothes and watch TV shows including A.N.T. Farm and Good Luck Charlie.
see also William Watson and ts