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Re: On Deficits And Debt-Financed Government

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  • Thu, Apr 01, 2010 - 07:21pm

    #11
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: On Deficits And Debt-Financed Government

 

Jeff,

Abolishing legal tender laws is in my opinion a better alternative  than handing over the counterfeit machine from Bernanke to Pelosi and hoping it goes “viral”

No American should be forced by their government to accept any money they deem not worthy.      That is respect for private property and true economic liberty.     This will render the Federal Reserve useless,  and bankers would become like any other businessmen , at the mercy of their  customers.

This law  forces U.S. producers   to accept Federal Reserve Notes  even if they knew it is being rapidly debased by bank credit expansion coordinated by the Fed.       And  since they cannot refuse or discount the money,    the only option left is to raise prices.  

Note how International traders  are  quick to discount a currency (over the other currencies)     that is being debased by its central bank. 

http://www.fff.org/freedom/1100a.asp

 

  Americans would be as  merciless in dumping funny money,     no matter who issued it.