Exclusive Conversation With Ron Paul: The Future Of The Federal Reserve

competing currencies

It was briefly mentioned about the possibility of competing currencies. Auditing the Fed is important because of their monopoloy over money. Competing currencies are now illegal! If we allowed competing currencies people could choose their currency - perhaps a currency backed by silver, or gold, or a basket of commodities.

If we believe in a free market and competition, then let's allow competition in currencies. If we had a choice, people would use real money from an open and transparent bank (or other issuer) and the Federal Reserve Notes would be used less.

Mike of CO @ Jun 24, 2009 13:01:55 PM

Please take action and contact your representatives and tell them to Audit The Federal Reserve.

We need to contact our "representatives" and tell them to support HR 1207 in the House and S604 in the Senate.

Julio of WA @ Jun 24, 2009 12:17:24 PM

Glad to see that Ron Paul has got the Congress talking about this issue

which is one of the most important issues facing the nation--but most Americans have no idea about the Fed or monetary policy or the inflation tax

Bobby of FL @ Jun 24, 2009 12:04:37 PM

monopoly on money

It is the government that has given the Federal Reserve its coercive monopoly on money. That is the reason that we are forced to use federal reserve notes as money. Other forms of currencies should be allowed to freely compete just like any other commodity. The government must cease its initiation of force by nullifying all legal tender laws. Google fiat currency.

C. Rakish Spagaletto of NY @ Jun 24, 2009 11:55:10 AM

Keep up the fight, Dr. Paul

Dr. Paul is doing us all a favor in allowing us to find out more about what the Fed is up to, especially with regards to our money. I agree with Dr. Paul's stances more often than not, and on this issue I am supporting him 100%. Very good article.

Ben of NM @ Jun 24, 2009 11:42:26 AM

Ron Paul is right, we want to know what is going on

Ron Paul is the only man in government who seems to have a grasp of reality. We are broke and nobody is even looking at the check book. Inflation of our currency means we ALL pay more and more for everything and more and more people will not be able to pay their bills, meaning more mortgage defaults and bankruptcies.

Interest rates MUST rise sooner or later, to oppressive levels that will cripple our economy because small business will not be able to obtain funds to expand. Are banks even lending money these days? Where DID that TARP money go anyway?

Now take into account the very high taxation that will be needed to service the national debt, not to mention the baby boomers all retiring and going on social security and medicare.

A financial disaster is looing, we know it, Ron Paul knows it, but the rest of the bonehads who claim to represent us are either just plain stupid, or refuse to see what is going on.

I truly fear for our country if foreign countries stop servicing our debt, or worse, call in their chips and threaten war if we can't pay up. Can you spell CHINA? They don't want the dollar to colapse any more than we do, because they own so much of our debt, but inflation is one cleaver but evil way to devalue that debt. Who really knows where their breaking point is?

If something major doesnt happen in 2010, and then again in 2012 we are doomed. It may be too late allready, let's hope not. But if we do nothing next election cycle you can kiss your children's collective futures goodbye.

Dan Warner of PA @ Jun 24, 2009 11:41:38 AM

Ron Paul faithfully sounding the warning

Great informative article! I hope this brief interview will inspire millions of your readers to start doing their homework. We are on a collision course with financial disaster, and Dr Paul has been faithfully sounding the warning for years now. Hope we wake up in time. If your rep has NOT co-sponsored HR1207, get on the phone and tell him/her to get on board.

Steven Orrange of TX @ Jun 24, 2009 11:33:22 AM