Saturday, September 17, 2011

U.K. Member of Parliament: I'd Rather Use a Currency Developed by Google than the Bank of England

Another sign of the global impact of Ron Paul.

U.K. Member of Parliament Douglas Carswell is about to call for the British House of Commons to allow currencies to compete against the Bank of England's pound.

I hasten to add that although all this talk of competitive currencies suggests a great way to get from under the abusive monetary operations of central banks and that money should develop in the free market, my guess is that gold and silver would emerge as the mediums of exchange. Perhaps, Google, American Express, Brinks or U-Haul Storage would issue receipts for gold and silver, and those receipts would trade in the market, but most likely gold and silver is what would be backing such receipts.



  1. Not so says F.A. Hayek. See A Free-Market Monetary System.

  2. I was waiting for the part where the guest or interviewer mentioned Ron Paul and his influence, thus connecting Ron Paul's "global impact" to this development in the UK. But curiously, I was not able to make out such a reference in the entire 5min clip.

  3. @Taylor Conant:

    Here is a link to Douglas Carswell's personal blog where two years ago posted to praise Ron Paul's 'End the Fed' and how it has been influencing him:

    In that post he writes: "The more I read about Austrian school economists and ponder the financial crisis, the more I wonder if conventional thinking about fiat money is flawed."

    Here he posted Ron Paul's first 2012 campaign commercial:

    Don't doubt that the "small, but growing number of academics" he mentioned on the floor of the House of Commons might just be a part of that humble establishment in the town of Auburn, Alabama...

  4. There is already a private 10+ year old digital gold currency with over $2 billion worth of metal in the Via-Mat and G4S vaults which is audited by multiple firms every couple months.

    If people wanted to use gold and silver as currency in ordinary daily transactions then they already have a legal and credible option (although there are some tax considerations for some people).