Originally Posted by Relentless

We already have competing currencies. You can trade all your dollars right now for Euros, Yen, Gold or the currency of any other nation. You just can't trade your 'State currency' for the currency of any other State because only the federal government can mint money. Just a quick note, if States each had their own currency, over the last 200 years the rest of the nation would have been financially enslaved by New York, Texas and California.

The problem with our currency is that so much of it is owned by other nations or subject to our growing debt... not that we have too few kinds of it. For example, Monopoly money in six different colors is all equally worthless because it isn't backed by any real value. The orange paper isn't worth more than the white paper just because one says $500 and the other says $1 on it. The same will be true of multiple currencies or our sole currency in real life if we don't curtail its demise.