Ron Paul: Legalize Competing Currencies

by Ron Paul

I recently held a hearing in my congressional subcommittee on the subject of competing currencies. This is an issue of enormous importance, but unfortunately few Americans understand how the Federal Reserve and Treasury Department impose a strict monopoly on money in America.

This monopoly is maintained using federal counterfeiting laws, which is a bit rich. If any organization is guilty of counterfeiting dollars, it is our own Treasury. But those who dare to challenge federal legal tender laws by circulating competing currencies — at least physical currencies — risk going to prison.

Like all government created monopolies, the federal monopoly on money results in substandard product in the form of our ever-depreciating dollars.

Yet governments have always sought to monopolize the issuance of money, either directly or through the creation of central banks. The expanding role of the Federal Reserve in the 20th century enabled our federal government to grow wildly larger than would have been possible otherwise. Our Fed, like all central banks, encourages deficits by effectively monetizing Treasury debt. But the price we pay is the terrible and ongoing debasement of our money.

Allowing individuals and business to use alternate currencies, especially currencies backed by gold and silver, would expose the whole rotten system because the marketplace would prefer such alternate currencies unless and until the Fed suddenly imposed radical discipline on its dollar inflation.

Sadly, Americans are far less free than many others around the world when it comes to protecting themselves against the rapidly depreciating US dollar. Mexican workers can set up accounts denominated in ounces of silver and take tax-free delivery of that silver whenever they want. In Singapore and other Asian countries, individuals can set up bank accounts denominated in gold and silver. Debit cards can be linked to gold and silver accounts so that customers can use gold and silver to make point of sale transactions, a service which is only available to non-Americans.

The obvious solution is to legalize monetary freedom and allow the circulation of parallel and competing currencies. There is no reason why Americans should not be able to transact, save, and invest using the currency of their choosing. They should be free to use gold, silver, or other currencies with no legal restrictions or punitive taxation standing in the way. Restoring the monetary system envisioned by the Constitution is the only way to ensure the economic security of the American people.

After all, if our monetary system is fundamentally sound– and the Federal Reserve indeed stabilizes the dollar as its apologists claim–then why fear competition? Why do we accept that centralized, monopoly control over our money is compatible with a supposedly free-market economy? In a free market, the government’s fiat dollar should compete with alternate currencies for the benefit of American consumers, savers, and investors.

As Austrian economist Ludwig von Mises explained, sound money is an instrument that protects our civil liberties against despotic government. Our current monetary system is indeed despotic, and the surest way to correct things simply is to legalize competing currencies.

  • Ann

    So does this mean he wants to make all the currencies to be just one currency? Am I reading this right?

  • robin

    Someone posted this…Can we do this?
    Is it not true that Ron Paul can be nominated by the five/seven state delegations by A NOTARIZED letter nominating Ron Paul for GOP nominee for President ? In this way the disenfranchised delegates can still do their job and it is all legal. They must do this ASAP-immediately. The letter must be signed by all the delegates before a notary or individually before a notary and then together send by certified mail to all the RNC officials. Then the notarized letters should be published in every big city newspaper possible, but especially in the state newspaper. It can be put in the legal section of the paper or elsewhere. And the answer to the question I asked you is YES ! LET EVERYONE KNOW BEFORE IT IS TOO LATE. This because , the RNC might “forget” to open up nominations. Copies should be made for each delegate. Delgates that go to Tampa should also file these notifications with the RNC officials and handed out to delegates if possible. And Ron Paul still should be nominated from the floor.

    • French Canadian


      That’s great news. Get going on this. I wonder why Ron Paul’s campaign didn’t tell you about this????

      P.S.: I finally got to use the “Reply button”… that Surfisher talked about… lol. Didn’t even noticed it before. Never went on a blog where there was a Reply button before. Or at least, never noticed one. We learn new things everyday… like this “state delegations by A NOTARIZED letter nominating Ron Paul for GOP nominee for President “.

  • Surfisher

    Ron Paul to WIN 2012 —Come to Tampa on the 26th Real American Patriots — a Million+ True Americans are expected to show — be One of Us!

    Last chance to voice our support for the only Real American that deserves to be US President: Ron Paul !!!

    Don’t delay — start your trip to Tampa today!

    US Federal Election Law states: NO Delegates can be bound!

    All RNC delegates in Tampa are free to vote their conscience — meaning Ron Paul MUST WIN (or they have no conscience)!

    Real Americans, be part of this historic moment —over 70 news media from around the World will be transmitting LIVE this momentous LAST CHANCE to WIN our Nation back from the Criminals in Power!

    This is OUR FINAL STAND —Win our Freedoms BACK, or forever lose them!


  • French Canadian


    Alex calls himself: “The King of Interruption”… he knows his flaws. But he is so real, so informed and so passionated, that he can’t help interrupting.

    But Surfisher, this is your lucky day…LOL

    MIKE ADAMS SITS IN FOR ALEX JONES. He does a real good job. I am so happy that Alex has formed so many people to replace him… and they are all good. This is fantastic to know that there is more and more people in the infowar. Very good feeling to see there is reinforcement in that field. Check him out (only 2 hours on Sunday).

    Alex Jones Show: Sunday (8-19-12) John Wells

    On the Sunday, August 19 edition of the Alex Jones Show, veteran guest host Mike Adams “The Health Ranger,” editor of, fills in for Alex breaking down the latest news, including the recent Freedom of Information Act request revealing the Department of Homeland Security retaining files on Infowars stories and user comments. Mike also welcomes guest John B. Wells. Mr. Wells is a frequent guest on the Alex Jones Show and a longtime professional announcer who has hosted Saturday evenings on Coast-to-Coast AM, a North American late-night radio talk show, since January of 2012. He’ll be talking to Mike about his own personal awakening, the economic collapse and its repercussions and how to prepare for what’s to come. Mike also covers other major news items and takes your calls

    • Surfisher

      French Canadian — you couldn’t reply to my post below…but again started a new one…?

      Use some common courtesy — it is truly annoying your lack of respect to others posting here (all you had to do was click REPLY).

      • French Canadian

        Poor Surfisher,

        I never noticed the reply button before you just mentioned it. I had even trouble finding it before I wrote this.

        Boy, you really go on your hight horses for nothing. No wonder I had trouble finding responses to my comments … they were sometimes so far away (on another pages)… I just thought this blogsite was all messed up and was badly programmed.

        Talking about respect… what about your respect for people? When you say things like: ” …if you skip Huckster Alex Jones interruptions and his products sales talk..” you are very disrespectful. Alex is not financed by Wall Street, he is financed by his audience. If he doesn’t sell the stuff in the Infowars shop (great products by the way)… he has no show . Do you know how hard this GREAT patriot works? You have no idea. He has his 3 hours DailyShow, Infowars Nightly News, his Youtube channel, his blog plus a twitter blog, he makes videos, documentaries, films, .. he is starting a weekly 48 pages Magazine (in case his show is shut down by the Elites), he goes on protests… he has a a crew of people to take care of, he has also all the court cases when he sues Google and other idiots who are trying to make him shut up… etc.

        I have just as much respect for Alex Jones than I have for Ron Paul. To me, they deserve the SAME level of respect. You snobing him is worries me. Do you know that Ron paul would have never been known if it wouldn’t have been for Alex Jones. YES, that’s right! Check it out. And stop spitting on REAL patriots like him.

  • Surfisher

    Lew Rockwell: Gov’t is Far Worse Than The Mafia!

    Finally had the time to watch this 40 minute video in full — if you skip Huckster Alex Jones interruptions and his products sales talk— you’ll get a very cogent picture of Lew Rockwell’s logical observations where our Nation is heading to under our current Criminals in Power (and the wannabe’s that desire the Presidency…Mitt & Co.)!


  • French Canadian


    I don’t know if Alex will be going to Tampa. But about 3 weeks ago, in an interview with I don’t remember who…lol… this guest was saying that they had the intention to silence Ron Paul supporters and bring a lot of security goons. Alex replied: ” Well, I didn’t have the intention to go to the Convention… but now, with what you just said… I just might go. ” He laughed and seemed motivated, you should have seen the smile on his face…lol

    We will see. But I am quite sure if he doesn’t go (because Bull horns are forbidden there…lol), he will sent one of his reporters. I would be very surprised if he doesn’t.

  • French Canadian


    Okay, I misunderstood you. I was suprised you did not believe they were real, I feel better now…lol

    I watch the first documentary when it came out “WHAT in the World are They Spraying? But the second one, that I have watch today: WHY in the World are They Spraying is even better and goes up a level. Conclusion of the film: Who can control the weather, can control the world. I learned in this film, that they are also making a lot of money from this, thru derivatives betting… incredible the level of evil of these greedy people are. They will destroy our planet if we don’t find a way to stop them.


    Are you getting nervous about the Convention? It is in a few days. I pray and hope that Ron Paul will get nominated. People think I’m crazy… still, I want to keep believing he still has a chance. But if he gets nominated… then WHAT? What dirty trick will they find to get rid of him? That worries me a lot. Anyway, hang in there , cross your finger and pray and hope for the best.

    Wouldn’t it be nice if people would wake-up and forget about their party leaning and come together for Ron Paul. Like Alex jones often says: “You better hang together or you will hang separately”.

  • robin

    French Canadian,
    We’ve been documenting chem trails for the past four years. My husband is very knowledgeable and has a science background. The comment I posted was from my brain dead relative who has now labeled me one of those conspiracy terrorists as he calls them. At least he likes Ben Swann, so maybe he will wake him up. When we tell people about chem trails(so prevalent where we live) just look at us in disbelief and don’t seem to care=even our family. Most people are not very observant about their natural environment and don’t want to take the time to look into it. I’ll watch the program you posted on Brandon Raub. The question I asked Ben is that this happened to someone in Virginia where they just voted to nullify the NDAA. Also, it is blacked out in the media….Is this a mere coincidence, or intentionally? It’s the timing and the place and is he being used to set an example of what will happen if other states follow suit and to let us all know what they will do with us=lock us up in a psycho ward.

  • French Canadian


    About the Brandon Raub arrest friday night… Alex show was already over and on Saturday Infowars has a day off. But today Sunday, here is what I found:

    This Former Marine Was Picked Up By The FBI Over Facebook Posts About 9/11 (+ 2 videos)


    Post Sciptum:

    Robin, you better start doing REAL researches on the Chemtrails, because they are REAL. .. it is even admitted. Please reshearch this seriously, because it is true.
    If you want to see a good documentary about this, watch:

    “Why in the World are They Spraying?” Full Length Documentary HD

    “WHY in the World are They Spraying? is an investigative documentary into one of the many hidden agendas associated with chemtrail/geo-engineering programs. Various groups are quietly pursuing these programs, but why and for whose gain?

    This film is the follow-up to the groundbreaking documentary “What in the World are They Spraying?” which woke up millions to the damaging effects of chemtrails and other geo-engineering programs. As a result, movements around the world are being formed to address these crimes and many concerned citizens are taking action. As people become aware of “what” is happening, they are now asking the even more important question of “why” it’s happening. Michael J. Murphy, originator and Co-Producer of “What in the World are They Spraying?,” in association with Barry Kolsky, have produced “WHY in the World are They Spraying?” to answer that question.

    Get ready to uncover:

    The environmental and human health implications of geo-engineering programs.
    How geo-engineering can be used to control our weather.
    What industries benefit from geo-engineering programs.
    How the spraying affects you, your family and the future of humanity.

    In this documentary you will learn how the aerosols being sprayed into our sky are used in conjunction with other technologies to control our weather. Geo-engineers maintain that their models are only for the mitigation of the now widely debunked theory of global warming. What is clear is that the chemtrail/geo-engineering can be used as a way to consolidate an enormous amount of both monetary and political power into the hands of the technocratic elites. Certain international corporations can now leverage weather control to gain power over the Earth’s natural systems. This of course, is being done at the expense of every living thing on the planet. WHY in the World are They Spraying? is a must see film and will revolutionize the environmental movement.”

    • robin

      French Canadian,
      I’ve seen the first documentary but not the second. My husband has seen them both and says they seem to be doing less spraying probably because of creating the drought and high temperatures around the country. He also said(don’t remember the scientific terms) that it could also be related to HAARP. As former outspoken environmentalists, we are completely awake about these issues and how environmentalists have been used to promote an agenda that is not in our best interests. It doesn’t look like there is anymore information that I already know, so I’ll just have to wait. Please post anything that comes up on this subject. Thanks..Let’s hope and pray that the Maine/Mass delegates get seated in Tampa. I’m sure they are preparing for a long trip for many. So sorry Ben Swann isn’t going to go. What about Alex Jones? We need someone reporting what’s going on…

  • robin

    Sounds like you are getting anxious about Tampa…Remember we are on the same side…Go easy on French Canadian…He cares…There aren’t many people left on this site it appears…Peace….

    • Surfisher

      robin — few may posts, but thousand read it!

    • Surfisher

      robin — few may post, but thousands read it!

      Gee, I need spell-check….LOL.

  • robin

    French Canadian and Surfisher re: The Brandon Raub Story,
    Has anyone read his Facebook posts? That same relative posted something that I did not see on his Facebook. Anyone care to respond? This is what he says is on there. Yikes! After looking over Brandon J Raubs face book site (while it is still there) it is clear why he was picked up and in hospital for a check up! He has many postings about starting a revolution, severing heads, Threatening political officials and military officers, crazy talk about the Illuminuty (ha ha), child sacrificed by the Bushes at an imaginary secret mansion in Colorado (must not be su
    ch a good secret if he knows all about it and what happens there?), claims 911 was an inside job by the Bushes, the GOV has been hiding technology from the public i.e. farming methods that would feed the world, and power for every one, it goes on and on! WOW what a nut job! Do these posting sound familiar to ones from????? Just another nut case conspiracy theory terrorist so sad.

    O yea almost forgot his photos jet planes poisoning of the air? Looks like simple con trails to everyone but this kook.