In response to:

Let's Give the Fed Some Competition

purple_persuader Wrote: Apr 04, 2012 1:55 PM
Is there a point in there? Are you somehow trying to assert that the USC authorizes the congress to grant monopoly privileges to a private entity to control currency? Are you aware of the context in which this power was placed in the congress. Did you know that the dollar was a known quantity at the time of the USC, the Spanish silver dollar, and not merely an arbitrary name for paper money?

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...