The Liberty Dollar started to address this issue but, while I admire Bernard Von Nothaus’ courage in the face of a recent federal attack, the currency has significant flaws. Not to say I didn’t buy any, because I did. However, the currency had a face value (in Federal Reserve Notes) stamped on each coin and bill. Norfed never set up a bank to provide the infrastructure support a currency depends upon. The silver was marked up by 30-80%, devaluing it as an investment. Finally, the currency contained creepy fedgov features like the inscription “Trust in God.”

That said, the Shire Silver group and others are attempting to simply mint reliable silver coinage, which will be a start. With a bank behind it, a private currency could replace FRNs with the legal tender laws still standing. People would simply convert their precious silver for worthless FRNs to pay taxes and settle court debts. Of course, mass adoption would mean further FRN devaluation, which would lead to more adoption, and the cycle would continue. People would only hold onto FRNs for the shortest time possible in order to interact with the fedgov. Until the fiat currency collapsed, which would devastate the world economy (temporarily) and enrich those who had switched over (sustainably).

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