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New Currency for Lychburg?
Posted: May 3rd, 2009, 7:23 pm
by Covert Hawk
So does anyone want to establish a new currency for Lynchburg residents? It is not illegal:
http://www.campaignforliberty.com/article.php?view=65
Posted: May 3rd, 2009, 8:31 pm
by LUconn
Has anybody ever seen the special on History about the story of stealing Abe Lincoln's body? It gives some pretty interesting background on counterfeiting and all of the ridiculous amounts of currency before the civil war. Pretty much every bank issued their own.
Posted: May 3rd, 2009, 8:37 pm
by AZjonz
If it's fiat money with no intrinsic value, why not?
You will have to put resources into fighting counterfeiting.
Posted: May 3rd, 2009, 10:46 pm
by matshark
AZjonz wrote:If it's fiat money with no intrinsic value, why not?
You will have to put resources into fighting counterfeiting.
what he said.
personally, id like to see our money backed by something, but FDR took care of that.
Posted: May 3rd, 2009, 11:19 pm
by Covert Hawk
Not only do we need to have our money backed by something (gold) we also need to quit fractional reserve banking, which also expands the money supply, and practice 100% reserves