Wednesday, July 1, 2009

Citizens Easily Coerced Into UsingGovernment Currency


Citizens can be easily coerced into using the government's currency. Usually it is enough to demand that taxes be paid in that currency. Today, most governments make it illegal to use a foreign currency within their borders.

People in other countries are beyond such simple mechanisms of control. For an international currency, there must be reasons to use the currency voluntarily.

The best currency is the one that is most stable in value. Historically, the premier international currencies, whether the US dollar after World War II, the Dutch guilder in the seventeenth century, or the Athenian owl in the fourth century BC, were those reliably pegged to gold. Gold has been the superlative monetary standard for thousands of years. (more)

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