Ron Paul : Competing Currencies Can End the Fed Softly!

[PeacePlan]

http://www.youtube.com/watch?v=AZ04-Z8wIs0

[virgil47]

Do competing currencies usher in competing city states or regions? Sounds a lot like the balkinization of a nations currency.

[Epic]

Do competing currencies usher in competing city states or regions? Sounds a lot like the balkinization of a nations currency.

Uh, no.

Why don't people understand this?

Competing currencies simply mean that the people on both sides of the transaction can use whatever they voluntarily agree to!

[Kotin]

Uh, no.

Why don't people understand this?

Competing currencies simply mean that the people on both sides of the transaction can use whatever they voluntarily agree to!


lol I dont know.. it just removes the fed's monopoly on currency.. thereby introducing competition and putting pressure on the fed not to inflate or else face destruction and marginalization.

[Travlyr]

Ron Paul speaks the truth. We have a lot of people holding cardboard signs on the street corners here in our town. Jobs, opportunity and hope have vanished. I believe that if monetary changes do not happen soon, those numbers will swell.

IMO, any Senator or Representative who does not get on board to support Ron Paul's H.R. 424A "Free Competition in Currency Act" must accept some culpability for unnecessary human suffering.

[libertybrewcity]

one cosponsor: Walter Jones Jr from NC-3. He also endorsed Ron Paul during the 2008 pres election.

[Travlyr]

one cosponsor: Walter Jones Jr from NC-3. He also endorsed Ron Paul during the 2008 pres election.

Good to know. Anybody else?

[virgil47]

Uh, no.

Why don't people understand this?

Competing currencies simply mean that the people on both sides of the transaction can use whatever they voluntarily agree to!

So if Someone buys an item with drakmas or whatever and the seller is willing to accept payment all is well? At least until the seller tries to use the drakmas to purchase something that he wants but the seller of that item refuses to accept them. Then what happens to the drakmas? Is he just stuck with them or is there a way to convert them into something the owner of the item he wants is willing to take? I believe one of the reasons money was standardized to begin with is that competing local economies either refused payment or discounted payment of money from outside of their local area. The average citizen ended up having to deal with a myriad of different currencies.

[sratiug]

So if Someone buys an item with drakmas or whatever and the seller is willing to accept payment all is well? At least until the seller tries to use the drakmas to purchase something that he wants but the seller of that item refuses to accept them. Then what happens to the drakmas? Is he just stuck with them or is there a way to convert them into something the owner of the item he wants is willing to take? I believe one of the reasons money was standardized to begin with is that competing local economies either refused payment or discounted payment of money from outside of their local area. The average citizen ended up having to deal with a myriad of different currencies.

They would naturally standardize themselves, if that was needed. He can sell the drakmas on ebay.

[ctnjason]

On all private transactions its very easy to phase out an actually currency. It does get tricky however without a common currency when one goes shopping :( If i take a wheelbarrow of snow to wal-mart they might like me very much but if i take it to an eskimo that wants to build an igloo, he may gimme a few good fish :)

[virgil47]

On all private transactions its very easy to phase out an actually currency. It does get tricky however without a common currency when one goes shopping :( If i take a wheelbarrow of snow to wal-mart they might like me very much but if i take it to an eskimo that wants to build an igloo, he may gimme a few good fish :)

Then it is as I thought. It is the balkinization of commerce.

[Dr.3D]

So if Someone buys an item with drakmas or whatever and the seller is willing to accept payment all is well? At least until the seller tries to use the drakmas to purchase something that he wants but the seller of that item refuses to accept them. Then what happens to the drakmas? Is he just stuck with them or is there a way to convert them into something the owner of the item he wants is willing to take? I believe one of the reasons money was standardized to begin with is that competing local economies either refused payment or discounted payment of money from outside of their local area. The average citizen ended up having to deal with a myriad of different currencies.

I don't believe Ron is talking about using foreign currencies, but rather other currencies made in the United States. Currencies minted of precious metals. Liberty Dollar is one of those that got into trouble with the government. By making it legal to produce competing currencies, those like the Liberty Dollar would be free to compete with the fiat currency of the Federal Reserve.

[free1]

He's simply putting things back so that people can spend gold and silver as money, and it **IS** money in the first place, WTF is wrong with people? It should be that way anyway.

Why any freedom loving American would argue against this is beyond me.

HR4248 Free Competition in Currency Act of 2009 (GovTrack.us)

http://www.govtrack.us/congress/bill.xpd?bill=h111-4248

Free Competition in Currency Act of 2009 - Repeals the federal law establishing U.S. coins, currency, and reserve notes as legal tender for all debts, public charges, taxes, and dues. Prohibits any tax on any coin, medal, token, or gold, silver, platinum, palladium, or rhodium bullion issued by a state, the United States, a foreign government, or any other person. Prohibits states from assessing any tax or fee on any currency or other monetary instrument that is used in interstate or foreign commerce and that has legal tender status under the Constitution. Repeals provisions of the federal criminal code relating to uttering coins of gold, silver, or other metal for use as current money and making or possessing likenesses of such coins. Abates any current prosecution under such provisions and nullifies any previous convictions.

[free1]

You can send a message to Congress from this site "Are these messages read even with so many folks sending a common first line? You bet they are! Congress cannot afford not to pay attention. And many DC Downsizers get responses from their Congressmen." ...

http://www.downsizedc.org/etp/campaigns/85


Congressman Paul has hit upon the easiest way to end monetary inflation, and the booms and busts that follow in its wake. Simply repeal the legal tender monopoly enjoyed by FRNs, and the coinage monopoly held by the United States government. Stop taxing exchanges in commodity metals. Allow monetary competition. This would help end inflation. But that's not all . . .

Forcing FRNs to compete with gold will also confer one other benefit. Over time the prices you pay will tend to fall as increases in economic efficiency (for example, technological improvements) lower the cost of production and increase the supply of goods and services. A stable money supply tends to become more valuable over time, unlike an inflationary currency that constantly loses value.
Creating a free market money system would also have one other benefit. It could help to End the Fed, by making what the Fed does increasingly irrelevant.

Inflation is a hidden tax that the politicians use to transfer wealth from you to favored interests. Ending inflation would cause your money to gain increased purchasing power as the economy grows.

[roho76]

Uh, no.

Why don't people understand this?

Competing currencies simply mean that the people on both sides of the transaction can use whatever they voluntarily agree to!

Isn't this already legal and more commonly referred to as bartering? As a business owner, and although by law I have to accept FRN's, can I not accept baseball cards in return for my services? If I wanted to I could just not perform the work for you if you planned on paying me in FRN's (sorry we're closed). The problem comes in when paying taxes on profits and with a competing currency wouldn't the IRS not agree to anything but FRN's for compensation. I/m not arguing for the FED, I'm just saying let's just barter.