In response to:

Let's Give the Fed Some Competition

purple_persuader Wrote: Apr 04, 2012 2:03 PM
To deal with another of MODMARK's fallacies below...For economies to grow, the value of the silver must increase. I would assume over a period of 100 years, the price of silver would be astronomical. ...This is begging the question, as in an unfettered market where the people are allowed to determine value one cannot say what the value would become. It is also to argue that it then be of such of a value that it would be financially untenable to use it in film production, or that the market would not adjust in other ways.

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...