In response to:

Let's Give the Fed Some Competition

purple_persuader Wrote: Apr 04, 2012 3:18 PM
Patently false, and showing your ignorance. In fact many countries have or have had competing currencies along with functioning economies. Europe (yes not a country, but proximity makes it the same) for a long time had competing currencies, there are Latin American countries now that allow for competing currencies. Your argument assumes haggling (assuming that to be bad), as opposed to people being familiar with the currencies. You are using almost every possible fallacy contrived to make your arguments, and they've all been dealt with. Should we all be forced to deal with monopolies in other markets? In the meantime we are taxed for using the current fiat money and you argue this is good? http://mises.org/journals/jls/4_1/4_1_7.pdf

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...