Liberty Maven

Almost a year ago, Ron Paul stood before the U.S. House of Representatives and delivered a speech in which he offered a compelling case for the legalization of alternative currencies that would compete against the declining fiat U.S. Dollar.

…allowing for competing currencies will allow market participants to choose a currency that suits their needs, rather than the needs of the government. The prospect of American citizens turning away from the dollar towards alternate currencies will provide the necessary impetus to the US government to regain control of the dollar and halt its downward spiral. Restoring soundness to the dollar will remove the government’s ability and incentive to inflate the currency, and keep us from launching unconstitutional wars that burden our economy to excess. With a sound currency, everyone is better off, not just those who control the monetary system. I urge my colleagues to consider the redevelopment of a system of competing currencies.

With the Dollar in even worst shape, and the inflationary policy as set forth by the Federal Reserve, there is no better time than now to allow private currencies to compete in the marketplace alongside the Dollar, and let the winner reign supreme.

Heck, even in the U.K. well-known leftist George Monbiot is calling for the legalization of alternative currencies.

…I know that without money there’s no business, and without business there are no jobs. I also know that most of the money in circulation is issued, through fractional reserve banking, in the form of debt. This means that you can’t solve one problem (a lack of money) without causing another (a mountain of debt). There must be a better way than this.  [ Except from guardian.co.uk ]