Tags: ron | paul | dollar | monopoly

Paul: Time to End Monopoly of the Dollar

Thursday, 28 Jan 2010 02:02 PM

When the bills finally come due and the dollar stops working real social, economic and political chaos may result, says Congressman Ron Paul — unless we take some major steps now to allow for a peaceful transition in the future.

The first of these is ensuring that no one who prefers an alternative should be compelled by law to operate in Federal Reserve notes, Paul says.

"We should repeal legal tender laws and allow Americans to conduct transactions at constitutional money," Paul writes in his blog.

"Consequently, private mints should be allowed to mint gold and silver coins."

Naturally, such mints would be subject to fraud and counterfeit laws, Paul points out, and people would be free to use their coins or stay with Federal Reserve notes, as they see fit.

"Finally, we should abolish taxes on gold and silver, which puts precious metals at a competitive disadvantage to paper money," he says.

“The very least Congress can do, if they are not willing to abolish the Fed, and perhaps not even conduct a serious audit of it, is to allow citizens the freedom to defend themselves from being completely wiped out by their monopoly power,” Paul says.

The U.S. dollar is trading broadly lower in the currency markets today, after reports of Federal Reserve Chairman Ben Bernanke edging closer to winning a second term dimmed the appeal for the currency, Benzinga reports.

Both the Australian and New Zealand currencies rose against the dollar, as did the euro.


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When the bills finally come due and the dollar stops working real social, economic and political chaos may result, says Congressman Ron Paul unless we take some major steps now to allow for a peaceful transition in the future. The first of these is ensuring that no one...
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2010-02-28
Thursday, 28 Jan 2010 02:02 PM
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