In response to:

Let's Give the Fed Some Competition

Jack2894 Wrote: Apr 04, 2012 3:46 PM
Europe had competing currencies since forever, but they moved to hte standardized Euro precisely to make economic transacitons more functional. And even then, the currencies were national currencies, with a level of stability that allowed for systematic conversion. Imagine Europe with 17 national currencies and another 17 private currencies in each nation. Trying to make an international deal while converting and tracking 289 different currencies, each subject to daily fluctuation would make international trade a nightmare. As I said, only in the bizarro world of the right wing does this make sense.

Pssst. Want to buy some Stossels? They’re my own currency with my face on them.

Why should you trust them?

Because I promise to redeem them for gold. And I’m reliable. I have money in the bank and a job that brings in more than I spend.

By contrast, the politicians who back American currency run an unsustainable deficit.

The Federal Reserve prints so much money that since it opened its doors in 1914, the dollar has lost more than 90 percent of its value.

OK, I won’t really sell Stossels. Americans get jailed for offering alternative currencies. The government insists...