There are practical steps that can be taken at the state level to promote the use and acceptance of sound money and undermine the Fed’s monopoly on money.
Control the money and you control the people.
The federal government has done just that in the Unites States.
Over the last hundred years, the federal government and the Federal Reserve, a privately owned bank cartel conceived of in secret, have waged a war on sound money in America. They’ve ended the free circulation of gold (and, for a time, criminalized its ownership), while imposing taxes on those who trade with it. They’ve replaced gold and silver coins, and the promise of gold redeem-ability on IOUs, with paper money and credit.
An ever-expanding volume of fiat money has replaced sound money as the primary medium of exchange. Liberty-loving citizens, savers and consumers who use Federal Reserve Notes (commonly referred to as “dollars”) in exchange for goods and services all have a vested interest in restoring the soundness of our money – whether they know it or not.
America’s Founding Fathers never intended for a central bank to dominate our monetary system or debase the currency. In fact, the Constitution instructs states to recognize gold and silver as legal tender and authorizes the U.S. Congress to coin gold and silver money.
Disastrous encounters with fiat money and central banking led James Madison to write, “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.”
Adding to the problems is the serial devaluation and the financial turmoil that flows from our corrupt monetary system. With no gold backing the currency since 1971, there is no longer any restraint on the creation of new money and debt. The system is getting more and more precarious and shows increasing signs of breaking down.