Instead, we've come so far as to establish a "gold standard" for the monetary policy of inflating currency at roughly two percent per annum to be carried out solely by the Federal Open Market Committee of the Federal Reserve System.

When we glance between the lines, we see that the Fed holds a monopoly of money creation. And since the government no longer regards gold or silver as money but instead issues paper bills or their electronic equivalent (not as substitutes for real money but as money itself), the United States is in the strange position of being a counterfeiter, and a monopoly counterfeiter at that.

Without the enforced promise of note redemption, the currency exposes itself to multiplication without restraint. An economy needs a generally accepted medium of exchange, and one would arise naturally over the course of trade. A state, given its nature as a predatory institution since it funds itself by force, needs a monetary unit it controls exclusively, with the ability to increase its quantity quickly to deal with its perpetual crises.