Thursday, November 20, 2008

Land Bank Notes, and great article at "The Common Room."

The Headmistress quotes;

"Define inflation as rising prices and, like Jimmy Carter, you’ll think that oil sheiks, credit cards, and private businesses are the culprits, and price controls are the answer. Define inflation in the classic fashion as an increase in the supply of money, with rising prices as a consequence, and you then have to ask the revealing question, 'Who increases the money supply?' Only one entity can do that legally; all others are called 'counterfeiters' and go to jail."

It's simple, it's direct and you should read it. At the Common Room. Inflation is the subtle tax government imposes on you and uses to devalue its debt. Let's peg the currency to something, like Federal Land. What if $1000.00 U.S. Dollars was always worth at least an acre of land, somewhere, that you could redeem? It would be the feds call as to which acre, but an acre. Until it's gone. We'll call our new currency "Land Bank Notes."

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1 comment:

cheese said...

I think that each state can as long as it's gold and silver coin. I've wondered why some of the states don't start coining silver pieces and get their own economies going then their could be aggrements between the individual states to accept each others coins as legal tender. Let's start a movement on this and let the Federal Reserve go where it belongs!!