The Federal Reserve

Carl Watner has written the front-page piece for the 1st quarter issue of The Voluntaryist, a periodical he edits. He issues it each quarter of each year in the hope of advancing the cause of freedom in the world.

I used to know something about The Voluntaryist when I was editing The Pragmatist. I later lost track of it and have only recently made the rediscovery. It isn't "The Voluntarist," by the way. The "y" is integral to the thought.

Anyway, Watner has written a front page piece on the freedom to choose your own money. I recommend it all, and I will quote only a bit of it here.

"The Federal Reserve System will onlybe replaced permanently if people come to understand the morality and practicality of a voluntary system. When a sufficient number of them recognize its merits, then instead of abolishing the Federal Reserve System, they will simply abandon it in favor of using better money. At that point, laws supporting the Federal Reserve would be rendered ineffective by people's refusal to obey them. In such a situation, it would become nearly impossible for the government to prosecute, convict, and imprison all those who refuse to handle Federal Reserve notes."

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