Comment: "What Has Government Done to Our Money?"

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"What Has Government Done to Our Money?"

http://mises.org/money/3s5.asp

Bimetallism = government price fixing = violent intervention into the market

Bimetallism is a monetary standard whereby a government imposes a fixed (arbitrary) rate of exchange between two metals. If two metallic currencies freely compete in the market, that is not bimetallism.

A gold standard (while vastly more desirable than a limitless fiat currency) could very well be problematic for us non-elites - that's why Ron Paul calls for legalizing competition, to let the market choose the preferred currency. Perhaps gold would be chosen, or BitCoin, or tallysticks, or whatever - but such a decision would be a legitimate expression of individual preferences, rather than an act of arbitrary government coercion.