Pontios: We need to use local private currencies instead of Federal Reserve Notes
me: So each state prints its own money? Between currency fluctuations, the greater ease of counterfeiting, and the costs of converting currency, prices would shoot up beyond recognition. Local businesses would lose out of state customers. Imagine the burdens imposed on Americans who wish to travel for business or on holiday across several states.
A common currency, something Americans have enjoyed since the 19th century, is one of the greatest advantage we have over European and Asian competitors.
As for the Federal Reserve, it's not often you find an institution supported by every American President since Woodrow Wilson. When FDR and Reagan, Nixon and Carter, Bush, Bush and Obama all support an institution, then that should be persuasive enough for every true liberal, conservative, Democrat and Republican.
I notice, ephraim, that you quote Benjamin Franklin. Surely you are aware that he was one of the first Americans to call for a common currency that would be used throughout all thirteen colonies.
