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Should private citizens be allowed to compete with the Federal Reserve?

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On March 18, Bernard Von Nothaus was convicted of counterfeiting for issuing Liberty Dollars from his Royal Hawaiian Mint Company. He is being called a "unique terrorist." The specie backed currency wasn't intended to be confused for the Federal Reserve Note.. the currency all Americans are required to honor by government fiat... but to be an alternative to our inflation prone dollar. In addition to the counterfeiting charges brought by the US government... the US treasury seeks to confiscate the gold and silver reserves held by the Royal Hawaiian Mint that backed its warehouse notes, traded by individuals who partook in the alternate currency.

What do you think? Is the US government harming its citizenry by protecting the private interests of the private central bankers? Should we be allowed to decide for ourselves which currency we wish to trade with? Before the Federal Reserve Act... it was the norm for Americans to choose which currency they dealt in. In light of the current financial woes... directly attributable to the debt based monetary system foisted upon us a century ago... can we not be trusted to make the same choices our grandparents were afforded?