By Zephan Wood for The Liberty Block There are a plethora of revolutionary monetary alternatives to fiat dollars. The most common being cryptocurrency, bartering, and precious metals. Additionally, there has been a rising star in the agorist currency space commonly known as goldbacks. There are currently four different state variations Read more…
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’.
Gresham’s Law states that in a competition between currency, bad money will win out over good money over time, in other words, the average person will be more likely to use their US Dollars to purchase goods and services over their Goldbacks because the gold will maintain value, while the US Dollar won’t. Shaffer gave his answer to the dilemma of Gresham’s Law.
Immediately after California made the decision, five other leftist states followed suit. It’s only a matter of time before this policy spreads to every state or is enacted on a federal level.
The headline read: “Inflation’s Silver Lining: Higher Salaries”, and the article expanded on the childish logic that the title was based on.