On August 2, at the invitation of chairman Ron Paul, I spoke on a panel before the House Committee on Financial Services, Subcommittee on Domestic Monetary Policy. The topic was “Sound Money: Parallel Currencies and the Roadmap to Monetary Freedom.” My written testimony for the event is here.
Others on the panel included Richard Ebeling, professor of economics at Northwood University, and Rob Gray, of the American Open Currency Standard.
It was an interesting mix of panelists. Rob Gray represented the grassroots, small scale local currency approach, focusing on full-weight metal coins. Professor Ebeling, I would say, had more of a U.S.-centric view, while I am an internationalist by nature. It doesn’t matter too much to me where the first gold-based parallel currencies emerge. It might be a small company in Idaho, but it could also be the government of Panama or Switzerland.
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