o vice-chairman of Subcommittee on Oversight and Investigations
o Subcommittee on Domestic Monetary Policy, Technology, and Economic Growth
"Sadly, Americans are far less free than many others around the world when it comes to protecting themselves against the rapidly depreciating US dollar:
Mexican workers can set up accounts denominated in ounces of silver and take tax-free delivery of that silver whenever they want.
In Singapore and other Asian countries, individuals can set up bank accounts denominated in gold and silver. Debit cards can be linked to gold and silver accounts so that customers can use gold and silver to make point of sale transactions, a service which is only available to non-Americans.
The obvious solution is to legalize monetary freedom and allow the circulation of parallel and competing currencies. There is no reason why Americans should not be able to transact, save, and invest using the currency of their choosing. They should be free to use gold, silver, or other currencies with no legal restrictions or punitive taxation standing in the way. Restoring the monetary system envisioned by the Constitution is the only way to ensure the economic security of the American people.
After all, if our monetary system is fundamentally sound-- and the Federal Reserve indeed stabilizes the dollar as its apologists claim--then why fear competition? "
Paulson, Soros Add Gold as Price Declines Most Since 2008
By Debarati Roy - Aug 15, 2012 1:09 AM ET