Currencies of the Future by Douglas FrenchSubmitted by haze on Wed, 11/14/2012 - 15:14
A most excellent article that simply is a must read for anyone who seriously wants to get rid of central banking and the rest of today's tyrannical financial system written by Douglas French.
About Douglas E. French from http://wiki.mises.org/wiki/Doug_French :
Douglas E. French is senior editor at Laissez Faire Club. He received his master's degree under the direction of Murray N. Rothbard at the University of Nevada, Las Vegas, after many years in the business of banking.
He is a major supporter of the Mises Institute, and has served as its president (2009-2012). He is the sponsor of the Douglas E. French Prize for the student who emerges from the Mises University oral examinations with the best record, as chosen by the examining committee.
Excerpt from http://lfb.org/today/currencies-of-the-future/ :
Currencies of the Future by Douglas French · November 13, 2012
Many people complain about government control of currency, but only a few do something about it. I’m not talking about movements to “audit the Fed” and such. I’m talking about real innovation that makes an end run around the government’s iron grip on the monetary system.
A few of us old folks might like to return to the days of slapping a silver dollar on the bar for a shot of whiskey, but the younger techno-savvy generation sees paying for their Negroni cocktail with virtual currency from their hand-held device. To serve this market, a new world of virtual currencies has popped up spontaneously.
In a debate, Mitt Romney said, “You couldn’t have people opening up banks in their garage and making loans.”
Really? Some people are thinking precisely along these lines and even going further to create new units of accounting.
Continue at the link above.