Friday, January 18, 2013

Quote of the Day: Money is an Invention of the Marketplace

Money is an invention of the marketplace of exchange, brought into being by traders who discovered that a reliable medium could facilitate trades that were more difficult or even impossible by barter alone. It developed from one form to a better one, one evolutionary trade at a time. Parliaments, Congresses and Emperors came along later and stole it, pure and simple if not fair and square… 

Private coinage was banned not because it didn’t work, but because it did. Governments just don’t care much for competition or for sound and honest money. The Civil War ban on private coinage has remained the law of the land since June 1864—a hallmark on the shameful path of monetary debasement.
This is from Lawrence W. Reed President of the FEE or The Freeman

No comments: