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 Silversoul
Rhizome
 
Registered: 01/01/05
Posts: 23,576
Loc: The Barricades
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 Money monopoly 
#4081143 - 04/21/05 02:30 PM (12 years, 5 months ago) |
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I was just wondering: By what right does the state get to decide what currency is legitimate and what isn't? Shouldn't the free market decide that? Especially we're just using paper money anyway, and it's not backed by any precious metals anymore. Shouldn't individual companies get to decide what currency they'll accept, just as they decide what credit cards they take? Why do we accept a state monopoly on currency? I think if we had a free market in currency, then the best currency would win out over its competitors, and things like inflation would be minimized.
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Annapurna1
liberal pussy
Registered: 05/21/02
Posts: 5,646
Loc: innsmouth..MA
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by the coinage clause in the US constitution...however..there is no law against conducting a transaction in another currency..should both parties agree...
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"anchor blocks counteract the process of pontiprobation..while omalean globes regulize the pressure"...
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 JesusChrist
Son Of God
Registered: 02/19/04
Posts: 1,459
Last seen: 5 years, 14 days
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I am finally getting around to reading "The Creature from Jekyll Island : A Second Look at the Federal Reserve". It is interesting reading.
http://www.amazon.com/exec/obidos/tg/detail/-/0912986212/103-8508056-3266263?v=glance
The guy who wrote it is a conspiracy nut. It makes it interesting. The scary part is that he may be more right than wrong.
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Tastes just like chicken
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scribble
Stranger
Registered: 04/05/05
Posts: 86
Last seen: 11 years, 4 months
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I have kinda wondered that too.I think if I have lived back when money was fist used I think I'd rather keep trading cows and stuff for other stuff. I mean gold isn't even very useful, gold is one of the wost metals to use for anything other than jewelry
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Mahayana Buddhist tradition tells how Buddha lived on one hemp seed a day.
This was enough to sustain him during the six steps of asceticism leading to his Enlightenment.
In recent centuries, higher doses have been favoured.
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Gijith
Daisy Chain Eater
Registered: 12/04/03
Posts: 2,400
Loc: New York
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A libertarian taking issue with a monopoly. Of sorts. Freaky.
I have to say I agree with Anna. People have the freedom to do transactions with whatever they like. Dollars, gold, shares, bottle caps, AOL Cds, whatever.
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what's with neocons and the word 'ilk'?
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Silversoul
Rhizome
Registered: 01/01/05
Posts: 23,576
Loc: The Barricades
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 Re: Money monopoly [Re: Gijith]
#4082369 - 04/21/05 07:59 PM (12 years, 5 months ago) |
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I realize that technically we could use any currency we want, but that to me just makes it all the more puzzling why we surrender ourselves to federal currency, and leave ourselves at the mercy of the federal reserve's decisions. Why, for example, don't more people in America use the Euro, if it's more valuable than the dollar? Why should nationality determine currency? Back in the days of the gold standard, banks printed their own money. I think this could work even better now, because banks are no longer confined to local regions, and several different banks could print several different currencies which could compete with each other, and the most stable currency would become the most preferred and widely used.
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Smallworlds
Trippin' fool -Merry Prankster
Registered: 03/12/05
Posts: 4,207
Last seen: 11 years, 11 months
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I have now begun printing "Shroomery dollars" in an effort to break the government's monopoly on money.
Monopoly money just isn't good enough anymore.
Please PM me for details on how to trade in your now worthless government issued currency for genuine Shroomery dollars!!
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Through the excercise of patience, one may learn humility..
Smoke plenty of green, and eat fungus!!!!
   
Trip Report
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faslimy
Dead Man
Registered: 04/04/04
Posts: 3,436
Last seen: 1 year, 8 months
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