If New Hampshire cut ties to DC and no longer participated in the union, what would we use for currency?
Many people have asked this question, and some have openly admitted to being afraid of how we would function as a society without using ‘the mighty dollar’.
What exactly is currency?
Many people live their entire lives without giving much thought to the definition or history of currency. Simply explained, currency developed naturally as a medium of exchange in order to facilitate trade among people for products and services. Currency could be thought of as a receipt, which denotes services rendered or stored value that could be exchanged for a predetermined amount of product or service. Without these receipts, employers would have to pay their employees with their product, which could make it difficult for the employee to trade in the marketplace. Money simplifies and facilitates trade within a society. A video explains this concept quite well. Indeed, the last 15 seconds of the video is crucial to understanding the currency that was created by a group of truly sinister politicians and bankers in 1910 and solidified by FDR in 1933 and Nixon in 1971.
Before corrupt politicians and bankers created their joint venture in the 20th century, dollars in the united states represented real gold, which the federal government was obligated to grant the ‘bearer of the bill upon demand’. In 1910, however, a then-secret meeting between bankers and politicians who were involved in ‘banking regulation’ met and created a banking cartel, which would be partnered with and supported by the federal government. Three years after drawing up their plan, these authoritarians passed the Federal Reserve Act. The federal reserve was a bank that could loan non-existent money to the federal government, which the federal government could then spend. Naturally, this caused massive inflation. The author of the book ‘the creature from Jekyll Island’ explains how inflation benefits the government and big banks while harming regular citizens.
In 1933, President Franklin D. Roosevelt criminalized the ownership of gold and demanded that all Americans hand over their gold to the federal reserve (whose board is selected by the president of the united states). This began the authoritarian, corrupt transition away from the gold standard that had backed the dollar. Now that the federal reserve – the joint venture between the united states government and the most powerful bankers of the era – owned nearly all of the gold in the union, FDR could really put a dagger in the heart of American currency. In 1934, King Roosevelt declared that gold shall cost $35 per ounce. For the first time, the government had fixed the price of gold to the dollar, preventing the free market from discovering and setting the exchange rate. Since then, we have not had anything resembling a free market in the united states. This socialist/fascist president showed the American people the simplest example of authoritarian government control of the currency. And his sycophants continued to reelect him again and again. The federal government continued to empower the Federal Reserve and continued to solidify their partnership with the banking cartel. In 1971, Republican president (and infamous crook) Richard Nixon officially moved the dollar off of the gold standard, putting the final nails in the coffin of America’s national currency.
Even the united states government readily admits that you would have to spend over $2,580 today to buy the same things that just $100 would buy in 1913. This translates to an inflation rate of over 2500% since the establishment of the federal reserve in 1913. If you open your wallet and look at those paper bills, you’ll notice that they say ‘federal reserve note’. If you look at bills from before the creation of the federal reserve, that phrase does not exist. Instead, you might find phrases like ‘silver certificate’, ‘united states note’, ‘dollars’ and ‘gold coin’ and ‘treasury note’, depending on the era.
An increasing number of Americans are realizing that federal reserve notes have decreasing value with each passing day. Current inflation is between seven and 20 percent per year and will likely continue to accelerate in the coming years.
So, the DC politicians’ currency is anything but ‘mighty’.
That said, once we leave the union, Granite Staters would likely find that the choice of currency would not be an issue. We would have plenty of options. We could continue using dollars, because nothing would stop us from continuing to do what we’ve been doing for our entire lives. There is no reason to believe that our legislature would suddenly pass a law prohibiting the use of dollars. People in countries around the world use the dollar, and there is no reason why we could not do so regardless of whether we remain in the union.
For those who prefer to use money that doesn’t constantly decrease in value, gold and silver are great and are already used quite frequently in New Hampshire. Many businesses and individuals regularly trade ‘goldbacks’, bill-like gold notes with exact amounts of gold content contained inside of them. Additionally, crypto-currencies are used more widely in New Hampshire than any other state in the union, it seems. Even if we had to transition away from the dollar, it would not be as painful or radical as people might imagine. We already have an excellent infrastructure of alternative currencies in place. It simply would not be an issue.