MONEY: Fiat versus commodity; we’re not free to choose!

http://www.amconmag.com/article/2009/feb/09/00016/

Fed Up
The popular uprising against central banking
By Thomas E. Woods Jr.

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Under a commodity standard, people could save for the future by accumulating gold and silver coins. The coins’ value appreciated over time because of their natural increase in purchasing power, as the relatively slow increase in the production of precious metals was outpaced by the much faster increase in the production of other goods and services. Today, only a fool would try to save for the future by piling up dollar bills. Everyone is forced to enter the financial markets, which are risky even for knowledgeable investors, in order to prevent the value of his retirement savings from vanishing before his eyes.

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A timeless indictment of the Fed and its fiat money!

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