Tell your reps to reintroduce Ron Paul’s Free Competition in Currency Act

Ron Paul’s one-page bill (HR 77 from 2013) would repeal the legal tender law. This change would end the Federal Reserve’s currency monopoly. Americans could then use whatever they want for currency (gold, Bitcoins, sea-shells) not just Federal Reserve Notes. The bill has three parts…

  • The Honest Money section repeals the legal tender law.
  • The Competitive Currency section repeals the government’s coinage monopoly.
  • The Tax-Free Gold section prohibits federal and state taxes on precious metal coins and bullion. (This provision was suggested to Congressman Paul by Downsize DC).

These changes would force Federal Reserve Notes to compete with other forms of money. The Fed would have to stabilize its money supply, resulting in less inflation, with fewer booms and busts. If you agree with the letter we’ve written to Congress below, send it, or put it in your own words.

– Perry Willis & Jim Babka on Sun 2/18/18, updated Sun 7/22/18

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