What do we need to do as individuals?Submitted by JeffD on Wed, 11/12/2008 - 11:36
Monetary Freedom and Its Opposite
Daily Article by Mark Thornton | Posted on 11/12/2008
What do we need to do as individuals? -
Mises wrote that the era of inflation will come to an end once people realize that the process of inflation is ongoing with no end in sight. At that point people will stop holding dollars and dollar-denominated assets. Individuals who understand inflation should be in a process where they convert their dollars and dollar-denominated assets into non-dollar assets. For example, you can effectively put yourself onto your own personal gold standard by holding gold and silver as your savings, rather than dollars.
In conclusion: What we need is monetary freedom and we must tear down and destroy its opposite, the Federal Reserve. To celebrate the return of monetary freedom in the US, a giant bonfire should be used to destroy all existing Federal Reserve Notes.