"There is no law that says goods and services must be paid for with Federal Reserve notes. Parties entering into a transaction can establish any medium of exchange that is agreed upon."I attended the New Hampshire Liberty Forum this past weekend and, my oh my, it was wonderful mingling among people who really understand the concept of liberty and actually know the laws that govern them.
- Andrew Williams, a spokesman for the Federal Reserve in Washington, D.C
One thing that I found out about and I'd like to share with you is an another type of currency that is minted in this country - not fiat currency - but actual money backed by real gold and silver. They are Liberty dollars. I even bought some. While at the conference people were using them and merchants were accepting them. There are establishments that take liberty dollars all around. The interesting thing is that you probably didn't know that another currency existed in this country. It's perfectly legal. In fact if you wanted to mint your own coinage you can. If people are willing to take your currency in exchange for goods and services then that's perfectly o.k.
It is a very interesting alternative to the Federal Reserve.
You know about the Federal Reserve right?
Listen to more of what Texas Congressman Ron Paul has to say about the Federal Reserve. He warns of currency collapse and the dangers of a fiat monetary system.
UPDATE: It looks like "the Fed" doesn't like competition. Don't they sound threatened in this piece? Fear not.. the Liberty coins are legal.
As the credit card commercial says: What's in YOUR wallet?