The Jolly Roger Dollar
In his 1982 article, “Monetary Policy: Theory and Practice,” Nobel laureate Milton Friedman, no friend of gold, said that
If a domestic money consists of a commodity, a pure gold standard or cowrie bead standard, the principles of monetary policy are very simple. There aren’t any. The commodity money takes care of itself.
It takes care of itself. Consider that thought for a moment, then ask yourself why we’ve had politically-appointed bureaucrats running the money and banking system since 1913.
Mankind should be divorced from the state but that’s going well beyond the scope of this discussion. For now, at least, our goal should be to kill central banking wherever it exists and open up the market to alternative moneys — alternatives to the fiat issues of central banks. Market participants should be free to choose what they wish to use for money without government interference.
Legal tender laws, since they constitute invasions of private property, should be repealed. As Thomas Paine wrote,
As to the assumed authority of any assembly in making paper money, or paper of any kind, a legal tender, or in other language, a compulsive pa
Article from LewRockwell