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Source link: http://archive.mises.org/18554/government-monopoly-money-vs-utahs-new-choice-in-currency/

Government Monopoly Money vs. Utah’s New Choice in Currency

September 28, 2011 by

On Monday of this week, September 25th, I participated in the Utah Monetary Summit in Salt Lake City, devoted to discussing the significance of the Utah Legal Tender Act of March 2011, which gave citizens of that state legal right to transact and contract in U.S. gold and silver coins instead of Federal Reserve Notes, as a stepping stone to full choice in currency for the American citizenry.

I have posted on Northwood University’s blog, “In Defense of Capitalism & Human Progress,” the talk that I gave as the closing after dinner speaker at the event, on “Government Controlled Money or Choice in Currency?”

I discuss the disastrous history with government monopoly paper money, especially during the last century, and the importance of people having the right to choose the money they wish to accept, hold and use, both to protect themselves from the government’s abuse of the monetary printing press and as a way to take power away from government to plunder society.

Richard Ebeling

{ 5 comments }

Braden Talbot September 28, 2011 at 9:06 am

Can someone at the Mises site write an article giving their opinion on this legislation? I am all for it, being a Utah citizen, but no one is talking about it. I’m wondering if it’ll ever catch on.

sovereignthink December 14, 2011 at 11:52 pm

Utah Constitutional Currency – Bi-Metalists Wage War again

Join the long fought fight.

Utah Constitutional Currency – Bi-Metalists Wage War again

Life in Prison for Federal Competition – Silver Death Sentencing for silver exchange among private citizens. Feds announce…act of terrorism, Silver Now Counterfeit – Silver Dollar Death Sentence.

But wait…Utah Liberates Silver – Enlisting All Citizens of Utah

Is it really true? Read it for yourself. Utah Sound Money Legal Tender Act (TEXT – Enrolled); Then yes Utah Currency is very real, Utah Silver and Gold Staged to Kill the Bank – Utah Vs Fed

Call to alarm!

Utah Silver Liberation Army – Theatre of Operation Beachhead Utah

Call to action!

Silver Liberation Army – Everyone Buy Two Pieces of Utah or Idaho Silver

The next battle to win…$500 Dollar Silver – Idaho/Utah Silver State Bank ACT

Defy the Central Bank. End the Feds control over the destiny of Utah, Idaho, Texas, Montana, Oregon, etc. and…Demand State Public Owned, State Commodity Backed Banks!

Once this spirit of liberty, justice and individual empowerment is awakened, there will be no stopping the re-declaration of independence under local re-publicing and constitutional decentralizing of federal authorities and unjust powers.

Our Checks and Balances will be Uncensored.

Each State will create their own Independent State Projects Act of 2011.

And impose State Interposition Act, State Nullification Act to maintain and safeguard the freedoms of the public within their State.

Liberty, Truth and Justice is restored as the example is set in Utah.

-sovereignthink
(full)
http://wp.me/pPkXP-zn

joebhed September 28, 2011 at 12:04 pm

“”By making the use of gold and silver coins issued by the United States government lawful money in market transactions and the settling of debt, ….”".

Seems rather innocuous.
Is the fiat-stamp on the coins matched to any alternative value?

Where’s the beef?

Richard Ebeling September 28, 2011 at 4:28 pm

The significance of the Utah Legal Tender Act it can help make people aware, again, to think of gold and silver as money, rather than the decades-long indoctrination by the government that the only “real” and “true” money is Federal Reserve Notes.

And it can make people think that they can make choices about the medium of exchange they use rather than blindly accept the paper currency given to them as “money.”

By itself, it is absolutely the case that it does not move Utah or the United States that much closer to a system of monetary freedom. But it may force the government to publicly recognize its own minted gold and silver coins as money in people’s pockets.

And if it were to catch on in other states, as well, it starts having a potential momentum affect, in which a growing number of people imagine a world in which government does not control the medium of exchange.

Ludwig von Mises often argued in his writings on monetary reform, that a crucial element in such reform was for actual gold coins to once again be in people’s pockets and used by them as money in the market place. He considered this to be an important ingredient in getting people to move away from and no longer accept unbacked money substitutes or outright fiat currency.

What has been done in Utah is a small and limited beginning, perhaps, but one that can be a reform in the direction that Mises suggested.

Richard Ebeling

augusto September 28, 2011 at 10:43 pm

sad that we need laws to make people think…

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