Comment: RP: No money monopoly

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RP: No money monopoly

I believe that Ron Paul advocates "competitive currencies," and perhaps a part of that is restraining what the offical Mint can print as money to being only what the constitution says: Gold and Silver. But then in conjunction with that, or perhaps as a forerunner to that, repeal the legal tender laws which would allow individuals to choose which currency (FRNs, gold or silver...others?) they use for transactions and to pay their taxes. And no longer taxing "investment gains" from holding gold of silver and watching the dollar devalue against it and call that profit which has to be taxed. Because you're not allowed to pay your taxes in gold/silver and you are supposed to pay taxes on "profits" from holding them it makes it a non-competitive currency establishes a de facto monopoly of money with the Federal Reserve notes.

I believe that Rothbard pointed out (probably others too) that given the option to choose between competing currencies on a level playing field, the market will gravitate to the more sound and stable of the choices over time. I.e why gold/silver became money over the course of history, especially in the areas of the world with the most economic progress.