Changing to a silver economy

posted by
January 14, 2011
by Michael S. Rozeff  
Posted in Commentary

"A libertarian in Columbus, South Carolina sent me a message recently. He works at a convenience store. He was interested in introducing silver as a means of payment or currency at this store. His specific ideas I thought would not work because of the taxes on silver. ... Instead I spun out the following proposal. It too has the fatal flaw that taxes on silver dealings occur, but thinking about this process is very useful anyway. It shows how stores might become 100% reserve banks and how the economy might transition from paper and slug coin currency to silver money." (01/14/11)  

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