An Alternative Currency

The gold standard is a losing argument.

"Standard" is a synonym of "regulated." With the gold standard, countries tried to regulate the economy by controlling gold. The regulators failed.

The enemies of freedom use the failure of the gold standard to project the failure of their regulations on an inanimate object.

The wise goldbug recognizes that attempts to regulate the economy by manipulating the price of price metals are doomed to failure.

Rather than arguing for a return to the gold standard, the wise argue to re-establish gold and silver as free floating alternative currencies.

Re-establishing gold and silver as alternative currencies would create a more diverse economic landscape in which commoners could easily place their cash holdings into precious metals.

Re-establishing gold and silver as alternative currencies would also facilitate free trade as people can trade in the commodities without the complications of national currencies.

Re-establishing gold and silver as alternative currency is simply a matter of removing certain taxes and restrictions on the trade in gold and silver.

The Founders of the United States used gold and silver as currency. They were trading in worn pieces of eight that were of different sizes and of dubious origins. The primary goal of the first coinage act was to set standard weights for the coins; so that people could trade in confidence.

Gold and silver were traded as currency up unto the heady days before the Civil War when it was outlawed and heavily taxed.

Allowing people to trade gold and silver as currency would, arguably, lead to a more diverse economic landscape and greater economic stability.

Having more than one currency in play would help Americans become more savvy in their personal finances as people would face on a regular basis decisions about which currency to hold. Greater economic awareness would help improve the conditions of the middle and lower classes.