Ron Paul looking to legalise gold, silver-backed competing currencies

Maverick Republican Congressman, Ron Paul, who recently generated a respectable following, particularly among the young, with his libertarian ideals in the Republican Presidential nomination race, is following up his ‘Audit the Fed' initiative, recently passed by Congress, with a campaign to legalize alternate domestic currencies.

Followers of the U.S. scene may be aware that last year, Bernard von Nothaus, who created perhaps the best known alternative currency in the U.S. - the Liberty Dollar - was found guilty on various counts, including the making of "counterfeit coins" (resembling legal tender coins).  During the proceedings the Liberty dollar was described by the prosecution as "a unique form of domestic terrorism" that is trying "to undermine the legitimate currency of this country. The Justice Department press release quotes the prosecutor as saying: "While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country".

Read more: MineWeb.com, 14 August 2012