Anonymous Demon

The soon-to-be currency crisis will cause us to rethink money. The collapse of the U.S. dollar could be our chance to break the chains of our boom-bust cycle and implement sound monetary policy. The opposite is also true. We could replace one broken system with another.

Democratic representative Dennis Kucinich sponsors a bill called the American Monetary Act. On its face, the act would “strip the banks of their privileges and put the money power back into the hands of the people through their elected representatives; it would break the bankers’ secretive monopoly racket, which enables them to pay out billions in bonuses while ordinary people suffer” (mises.org). Looking deeper, the act may get us out of difficult times for the short run but is just another step down the path of big government, less freedom, and more economic toil. Read the article that takes a deeper look at the American Monetary Act at mises.org.

The coming collapse represents both great danger and great opportunity. We have a chance to fix fundamental flaws with the current system but we’ll have to stay alert to avoid supporting a new system that doesn’t work.