Competition in Currency

Support Free Competition in Currency Act, H.R. 4248

“Currency, or money, is what allows civilization to flourish,” correctly notes Congressman Ron Paul (R-Texas). There is probably no American citizen who doesn’t understand that statement and who is satisfied with the current state of monetary affairs in this country. The destruction of our money system happened gradually over time until now we're in the middle of a severe economic crisis produced and directed by the Federal Reserve and aided and abetted by the federal government.

The scourge of the hidden tax of inflation -- the increase in the money supply that causes a decrease in valuation -- must be abandoned. Some good first steps toward ending inflation would be to remove the Federal Reserve’s monopoly on issuing money by repealing legal tender laws, to open up the field for competition in coining money by removing restrictions on private mints, and to encourage the use of sound money by abolishing taxes on trading and holding gold, silver, and other precious metals.

Those proposals are contained in the Free Competition in Currency Act of 2009, H.R. 4248, introduced by Congressman Ron Paul (Click on the video image for a 5-minute explanation.). This act would be a major step in restoring sound money and freedom in the market system by providing a choice in currency, and would drastically reduce the Federal Reserve’s ability to control the monetary system.