Jun 25 2009

Competing Currencies

by Mike Phenow

In this statement, delivered by Ron Paul on February 13, 2008 to the United States House of Representatives, Dr. Paul proposes three actions the government should take to allow individuals to use private competing currencies:

  1. eliminate legal tender laws,
  2. eliminate laws that prohibit the operation of private mints, and
  3. eliminate capital gains and sales taxes on gold and silver coins.

Faithfully executing these three actions would have wonderful, seemingly miraculous effects. So many of the myriad other problems that we constantly worry about, argue about, and fight to rectify would steadily melt away.

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