In response to:

Let's Give the Fed Some Competition

Jack2894 Wrote: Apr 04, 2012 3:49 PM
Imagine this in a different realm, one which is often aligned with currency, i.e. weights and measures. Suppsoe there were dozens and dozens of different measures used in commerce, and a Stossel pound in FLorida was different from a Limbaugh pound in Missouri. The idea is idiocy. If it ever happened the immediate call would be for standardized weights and measures, which is generally considered a step toward a functioning society.
Doubtful Avenger Wrote: Apr 05, 2012 2:43 PM
Ever been outside the US? Ever been to any foreign country? Ever traded currency pairs? There is plenty of room in the world for multiple currencies, and on the internet, you can determine value in real time, so long as there is a market. I will give you 50 reals for 20 Stossels. Sold!
Paulus Textor Wrote: Apr 04, 2012 4:17 PM
Jack2894, you can relax. The Constitution already empowers Congress to set standards of weights and measures. Anyone issuing a "dollar" that does not meet weight and purity requirements would be subject to penalties, just as anyone who tries to sell a "pound" of bread that weighs less than a pound is subject to penalties. Or anyone who sells three quarts of gas and calls it a "gallon" of gas, is subject to penalties.

Hope this clears things up for you.
purple_persuader Wrote: Apr 04, 2012 4:00 PM
These are not analogous, and to prove how bad this argument is, we already have things such as liters and gallons, and hey it works.

Clovis_Sangrail Wrote: Apr 04, 2012 4:31 PM
"Liters and Gallons"

Stossel would have us try and work with "stossel-gallons", "prager-liters", etc, all of the sizes that they decide to make them.

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...