In response to:

Let's Give the Fed Some Competition

Paulus Textor Wrote: Apr 04, 2012 4:24 PM
Actually, Jack2894, I as an advocate of commodity money am IN FAVOR of a single, international monetary standard, in order to facilitate trade. It's called "Gold and Silver Coin." I am completely in favor of being able to take a "dollar" worth of silver overseas, and using it to buy stuff in England, Germany, or Japan. It shouldn't matter whether the one-ounce, .90 silver coin was minted in the USA, in England, Germany, or Japan. This way, we have a truly consistent, international standard. With paper currencies, you have money made arbitrarily, at whim, with each dishonest central bank trying to game the system to its own advantage. Precious metal money prevents such gaming. You can't just create it at whim.

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...