Free Currency

[Onyx]

How do you guys feel about the states restriction to one legal tender? Is it time to listen to Hayek and embrace a free currency economy?

In my opinion, this is long overdue for the common man. It is also incredibly undesirable for the ruling class, which is enough to get my vote.

We should finally let the floodgates open by liberating our means of economic exchange from state governing bodies.

 

[Onyx]

By the way, I am not naive enough to believe this would ever be a reality.

If a free currency economy ever gained traction, it would be stamped out mercilessly by the ruling class. It is a threat to everyone that profits off government, including the government itself.

 

[Norman]

But how would you buy votes then?

 

[BULLDOG]

People are free to barter all they want, but a recognized currency is required for a functioning society.

 

[Onyx]

People are free to barter all they want, but a recognized currency is required for a functioning society.

Recognized sure. Currency only works because everyone accepts it as a means of exchange. One recognized state controlled currency? No, that is nonsense.

We live in a world with several hundred currencies, and they exchange just fine. If theoretical currency SKZ 12 is a better fit for a city than theoretical currency ZKS 7, then they should have the option to use theoretical currency SKZ 12.

This varies mediums of exchange, increases economic liberty, produces market self sufficiency, and boosts consumer choice.

Keynesian economics have failed. It is time to take the economy back for regular working class Americans.

 

[HenryBHough]

Never heard of "bitcoin"?

 

[Onyx]

Never heard of "bitcoin"?

A modern example of private currency.

The process of determining value is based on cracking codes, so their system is pretty weird.

 

[HappyJoy]

Can't pay your taxes with monopoly money so the need for US currency will always be around. It's trusted, everyone uses it, everyone will continue to use it and some form of 'free currency' just won't be able to compete. Either within our country and also the value of the dollar internationally.

However if you want to trade bottle caps with your friends then nobody is stopping you.

 

[Onyx]

But how would you buy votes then?

Votes can be bought all the same.

The real problem is that Corporate America relies on stabilization in order to sustain their systematic practices of exploitation. Keynesian economics are an advocate for consumer and worker abuse.

 

[BluesLegend]

Businesses used to mint their own currencies in the US, as did states.

 

[bripat9643]

How do you guys feel about the states restriction to one legal tender? Is it time to listen to Hayek and embrace a free currency economy?

In my opinion, this is long overdue for the common man. It is also incredibly undesirable for the ruling class, which is enough to get my vote.

We should finally let the floodgates open by liberating our means of economic exchange from state governing bodies.

A "free currency" automatically resolves to the gold standard. I'm all in favor or it. A number of people have tried to create gold backed currencies, and the federal government shut them down and arrested them.

 

[bripat9643]

Businesses used to mint their own currencies in the US, as did states.

You mean banks used to print their own bank notes.

 

[bripat9643]

Can't pay your taxes with monopoly money so the need for US currency will always be around. It's trusted, everyone uses it, everyone will continue to use it and some form of 'free currency' just won't be able to compete. Either within our country and also the value of the dollar internationally.

However if you want to trade bottle caps with your friends then nobody is stopping you.

Federal reserve notes are monopoly money. Before legal tender laws people paid their taxes with private bank notes. You claim is certifiably false.

 

[Onyx]

Can't pay your taxes with monopoly money so the need for US currency will always be around.

Only because the state monopolizes exchange, establishes legal tender, and regulates banking.

All currency has market value. It is only a matter of exchange, which traders do on a daily basis over forex by the way.

You are under the spell of the ruling class.

It's trusted, everyone uses it, everyone will continue to use it and some form of 'free currency' just won't be able to compete.

That is relative.

Local private currencies were successful in many areas. Why do you think the world is not subjected under one universal currency? Why did the Euro fail in Spain, Portugal, and Greece?

Private currency has its fair share of success stories, and it goes without saying since it is just another medium of exchange. First during the age of free banking, and now with the bitcoin.

However if you want to trade bottle caps with your friends then nobody is stopping you.

False.

Banking is regulated by the state, and so is what constitutes legal tender.

 

[bripat9643]

People are free to barter all they want, but a recognized currency is required for a functioning society.

It doesn't require a government mandated currency.

 

[Onyx]

Businesses used to mint their own currencies in the US, as did states.

This is actually one of the primary reasons the articles of confederation were replaced.

An uncertain market and competition empowered the agrarian and industrial working class, but hurt the aristocracy badly.

The power of the federal government to make currency was the stability the elites desperately needed to maintain their hegemony

 

[bripat9643]

Businesses used to mint their own currencies in the US, as did states.

This is actually one of the primary reasons the articles of confederation were replaced.

An uncertain market and competition empowered the agrarian and industrial working class, but hurt the aristocracy badly.

The power of the federal government to make currency was the stability the elites desperately needed to maintain their hegemony

The Constitution did not end private bank notes. We had free banking in this country until the Civil War.

 

[HappyJoy]

Can't pay your taxes with monopoly money so the need for US currency will always be around. It's trusted, everyone uses it, everyone will continue to use it and some form of 'free currency' just won't be able to compete. Either within our country and also the value of the dollar internationally.

However if you want to trade bottle caps with your friends then nobody is stopping you.

Federal reserve notes are monopoly money. Before legal tender laws people paid their taxes with private bank notes. You claim is certifiably false.

No it's not false. Today federal and state governments are not going to accept a frickin' bank note, let alone 'free currency' to pay your taxes with.

It actually could be more expansive to have multiple currencies as somewhere down the line someone has to be paid to trade in your bottle caps for cash.

Most Americans (let's call them the normals) see no need for an additional currency so in fact it would turn into nothing more than another bitcoin racket where you're going to have a hard time finding someone to accept it.

 

[Onyx]

By the way, the ruling class has tried to keep the world on the same inflation for decades. That is in my mind the best argument that a globalist one world government is a real threat.

Half the reason the US declared war on Iraq, was because Saddam Hussien was fucking with the Dinar, and it would of cost US petroleum immensely.

 

[Onyx]

The Constitution did not end private bank notes. We had free banking in this country until the Civil War.

That is true, but the government was also in bed with banking, as you can observe from early US history.

The US constitution did restrict the state governments from issuing their own currency, while establishing one of its own. Definite monopolization.