Document:Editorial 1995 David Nolan The Essence of Liberty: Difference between revisions

   The fifth and final key test of anyone's claim to being a libertarian is their support for an honest money system; i.e. one where the currency is backed by something of true value (usually gold or silver). Fiat money -- money with no backing, whose acceptance is mandated by the State -- is simply legalized counterfeiting and is one of the keys to expanding government power.  

   The five points enumerated here are not a complete, comprehensive prescription for freedom... but they would take us most of the way. A government which cannot conscript, confiscate, or counterfeit, and which imposes no criminal penalties for the mere possession and peaceful use of anything, is one that almost all libertarians would be comfortable with.