Need Dough? Let's Crank Some Out!

You know, there is nothing illegal about printing your own currency. And as I pondered the implications of this, it dawned on me that the tax advantages could be huge.

In fact, IRS would get down right neurotic. Just the thought of that makes me smile.

Here's some places printing their own.

http://articles.moneycentral.msn.com/Banking/BetterBanking/struggling-towns-printing-their-own-cash.aspx

Now I want you to stop for a moment and ponder this. Could we do any worse than the Central Bank and government?

Here's my thought process. What if we lined up an entire supply chain, printed our own money and backed it with something that had value. Like gold. In fact, the printers would agree not to print one dollar more than they had backed by precious metals. And our new currency could be exchanged at any time for a like amount of gold, silver, nickel, copper. Held in reserve until the metal was replaced. No fractional lending ever. Signed and agreed to.

Would our new currency have real value? Of course it would. And it would replace that worthless fiat currency that the government has been issuing. In record time.

Hmmm...