Why Pay With Two Dollar Bills?

Briggs Armstrong, a student at Auburn University majoring in accounting and minoring in finance, recently wrote an article at mises.org “Why I Pay with Two Dollar Bills.” He wanted to express his dissatisfaction with the current monetary policy and get people interested in the subject. His main concern was inflation caused by the Federal Reserve System’s “disastrous policy” of creating trillions of new dollars. He quickly rejected the idea of paying only with singles, or with pennies. He also considered rejecting Ten Dollar Bills. Since they bore the mercantilist Alexander Hamilton’s portrait, they were worthy of his scorn, but many people do not want Ten Dollar Bills anyway. He needed something more striking and memorable. He finally decided on paying with Two Dollar Bills. It is uncommon enough, and better yet, they have Thomas Jefferson’s portrait. Jefferson himself hated central banks, fiat currency, public debt, and the inevitable inflation that Hamilton championed.

After writing his article, “Why I Pay with Two Dollar Bills” he now responds to the obvious question with, “google: ‘Why Pay with Two Dollar Bills?’” The search leads to his article at mises.org where people can learn more about inflation, monetary policy, and the Federal Reserve System. His article is easily found on Google. It also has spread around the libertarian blog sphere as well as Facebook.

This is another example of people’s frustration with the government and the mainstream media’s failure to address fundamental issues facing the country. More than a hundred years ago, the American people were capable of discussing monetary policy. The presidential elections debated the merits of a gold standard, a silver standard or bimetallism. That is no longer true, but the minority of people who understand the Federal Reserve System’s ability to create fiat currency, giving the Federal Government the ability to continually expand, while robbing the people of their wealth through inflation is growing. Ron Paul’s bill HR1207, the Federal Reserve Transparency Act, continues to gain support despite the opposition of Congressional and Senate leadership.

Ben Bernanke, the Federal Reserve Chairman is feeling the heat. Recently he was on a PBS town meeting to defend the Federal Reserve. The Fed has also hired a public relations firm to improve its image. Articles are appearing in the Wall Street Post to defend the “independence” of the Federal Reserve from the scrutiny of Congress. As Ron Paul points out, this so called “independence” is really secrecy to continue bailing out cronies at the expense of the American citizen.

The American people are slowly waking up. If HR1207 is not passed people are going to want to know why. They will want to know why the politicians refuse to investigate such a powerful institution. If it is passed, they are going to be very angry when they find out what has been happening. The only way to keep the American people from learning the truth is to distract them. That too is a frightening thought.

About the Author

Born in Oklahoma, Raised in Texas, Studied in Mexico and Spain, Taught Spanish in Thailand, Now living in Hawai’i, Orthodox Christian, Libertarian, World Traveler, Writer, Sovereign Individual, SangrĂ­a Drinker, A Psychologically Unemployable Vagabond you can read about at Libertas.ws or follow on Facebook and Twitter.

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