Good money is coined freedom-test article
"We shall be governed either by ourselves, under a Constitution, or else we shall be governed by the new kind of master invented in our day, the bureaucrat, and by the impenetrable web of rules that he fabricates and enforces. Let us stand together against the rule of bureaucracy, and for liberty and the Constitution." -- Larry P. Arnn, President of Hillsdale College, "Imprimus," November 2011
The role of money is mostly portrayed as the instrument of greed, instead of its more prominent role as a daily instrument of freedom. When a worker spends his money, the purchase is a vote of support for another worker's product or service. The transaction is an exchange of value given freely and received with confidence and good faith.
Every day 1.5 million Idahoans vote with their dollar bills for the success or failure of products, services, churches, charities, investments and political causes. This is a remarkable social achievement and a loving way to build a community; it is coined freedom in action.
Bad money is paper serfdom
If any part of this voluntary interaction between individuals is interfered with, including the value of money, then freedom itself is threatened.
The value of money is reduced by printing too much. When this happens, it follows that the worker's earnings and life savings have also been devalued and dishonored.
This bad money is fiat paper serfdom for it steals the blood, sweat and tears of labor, intellect and frugality for future happiness. Increasing the supply of fiat paper is similar to "clipping" coins by the Greek and Roman governments, a little here and there won't be missed. Both result in money being worth less.
Today, in plain sight, our coined freedom is being "clipped" by the Federal Reserve System (the Fed). Since the beginning of the Fed, in 1913, the US Dollar (USD) has steadily lost buying power. Idahoans must ask, why have we allowed the Fed to confiscate 95 percent of the value of our good money? Is serfdom so hard to visualize?
We cannot build a safe, prosperous, and free community on a fraudulent foundation of bad money.
A little history
The story behind the move from good to bad money is very simple. The Fed abandoned gold and silver for fiat paper. The long history (since 700 B.C.) of gold and silver is proof that this bimetal approach is the most honest and successful monetary system ever created.
History also tells us that fiat paper is the most dishonest and unsuccessful system. Fiat systems eventually collapse. The collapse may come after a long period of increasingly volatile booms, busts, high interest rates and double digit price increases. It has happened in Germany, Chile, Argentina, Peru, Yugoslavia and Zimbabwe in modern times.