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J
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Legalize Competing Currencies

- Ron Paul -

I second the motion.

Why not have competition? Other government institutions have competing counterparts in the private sector.

However, I see no reason why it would not be possible, right now, to set up savings accounts in gold or silver. It seems to me that the restriction is on transactions being performed in ferns, err FRNs., not savings. So, in order for your debit card to complete a transaction, the bank would have to convert some gold in your account into dollars. Ergo, you would need an attached $ denominated account. But in principle, I think it could be done, just like savings and checking today.

Commented 4265 days ago

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Beginning of the headline :I recently held a hearing in my congressional subcommittee on the subject of competing currencies. This is an issue of enormous importance, but unfortunately few Americans understand how the Federal Reserve and Treasury Department impose a strict monopoly on money in America. This monopoly is maintained using federal counterfeiting laws, which is a bit of a stretch... Read More

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