British Politician: We don’t need the banks

Douglas Carswell MP discusses the government monopoly of the money supply and how the internet could pave the way for new possibilities in alternative currencies and legal tender. Mr Carswell believes that the ability to use other national currencies in the United Kingdom would create a competitive pressure on the Bank of England which would prevent further devaluations and cause the Central Bank to work harder to maintain the value of the pound.

Whilst at The Real Asset Co we would recommend the return to a fully-backed sound money system, Mr Carswell’s proposals go a long way to confronting the actions of central banks to devalue our currency. It would provide some stability to the monetary system in that citizens could choose which tender they wish to trade in, thereby showing which fiat currency they place the most confidence in. After all, confidence is the one thing which backs fiat money.

In this interview Mr Carswell also explains at length the possibility of removing payments from outside the banking system as well as money.

About the Author

Jan SkoylesJan Skoyles is Head of Research at The Real Asset Company, a platform for secure and efficient gold investment. Jan first became interested in precious metals and sound money when she met Ned Naylor-Leyland whilst working alongside him in the summer of 2010. Jan then went on to write her undergraduate dissertation on the use of precious metals in the monetary system. After graduating from Aston University in 2011 Jan joined The Real Asset Co research desk. Her work and views are now featured on a range of media including BBC, Reuters, Wall Street Journal, Mail on Sunday, Forbes and The Telegraph. She has appeared on news channels including Russia Today to discuss the gold price and gold investing. You can keep up with Jan's commentary by subscribing to our RSS feed Gold Investment News.View all posts by Jan Skoyles

  • http://n/a Archie Dean

    Hi Jan,

    “After all, confidence is the one thing which backs fiat money”

    The principle backer of modern fiat currencies is not confidence,
    it is force, or the very real threat of it. If confidence really was the
    issue at hand, the £, $ & €, to name but three, would already be
    consigned to the dustbin of history

    AD.

  • Dennis S

    Well said Archie.

    These are government currencies enforced at the point of a gun. See Baron Von Nothaus. Gold investment is about opting out of the system, and keeping your savings in a better currency. Too many worry about the gold price going up and down and blah blah blah.

    In terms of other currencies circulating. Thank god for the internet. It is the only hope, and the main thing that will allow gold to circulate as money again.

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