Ron Paul on “Competing Currencies” – the Best Way Out of Western Economic Problems

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By: Trevor Loudon
New Zeal

While I don’t support many of Ron Paul’s foreign policy ideas, I much admire his economic understanding.

He is by far the best mind in the U.S. House of Representatives when it comes to issues of rational economics, sound money and honest finance.

Here Rep. Paul argues that the best way out of the U.S. economic crisis is to end the Federal Government’s monopoly on minting money.

While the Federal Government is able to routinely debase its fiat money by simply printing to order, the U.S. economy will always be sick.

Rep. Paul wants to discipline the Feds and restore confidence in U.S. money by allowing private companies to produce gold and silver coinage and derivatives thereof. These currencies would be backed by real assets and subject to fraud and counterfeiting laws, not currently applicable to the Fed.

Strong economies are built on a strong, trustworthy currencies. Rep. Paul’s re-surfacing of a basic tenet of classic economics is very timely indeed.

Ron Paul – you da man.

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