Thursday, November 15, 2007

Federal Thugs Enforce Currency Racket

(I tell you, it must be monetary economics day here at YTBF....)

Hat tip to Steve Gordon

Government Monopoly Imposed at Gunpoint: Liberty Dollar Raided by Feds

Given the recent plummet of the dollar, its no wonder that the market is turning to other monetary sources, like Euros, or Yen. The "Liberty Dollar" is one such instrument. It has been growing in popularity, with a whole network of merchants springing up to accept this currency in exchange for goods and services. The difference here, though, is the Liberty Dollar doesn’t have a State apparatus behind it to employ violent force to perpetuate its use. It is only used by people who voluntarily choose to use it in their dealings, either as a buyer or a seller.

So now our government wants to shut down this competition to its failing currency. People must be forced to accept an increasingly worthless piece of paper as payment for goods and services.

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