08 Aug '12, 6pm

Jon Matonis - Parallel Currencies & Roadmap To Monetary Freedom #bitcoin

Jon Matonis - Parallel Currencies & Roadmap To Monetary Freedom The latest post by Forbes.com contributor Jon Matonis (@JonMatonis ) describes a U.S. Congressional subcommittee hearing on sound money and parallel currencies (which would include gold and silver but not exclusively). Excerpts: “Generally, the repeal of legal tender laws will allow individuals to decide what to use as the preferred medium of exchange and open the door to alternative currencies without threat of prosecution.” - “The legal tender laws have the effect of giving one form of money an artificial preference over another by making that form of money acceptable for the payment of taxes. Therefore, it indirectly puts forms of money without legal tender status at a disadvantage because people will perceive the ‘legally’ preferred monetary unit as having an underlying value greater than zero.” - “A bit o...

Full article: http://www.bitcoinnews.com/post/28982817204/forbes-parall...

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