That’s a better twist than having him declare that the judge was incompetent.…...

“The far less regulated Scottish and Canadian free banking systems had much better performance under similar economic conditions. Most free banking systems experienced no peacetime system-wide panics, and even heavily regulated free banking systems devel- oped arrangements that provided liquidity without a lender of last resort.”…...

“Because free banking was inherently a regime of convertibility into gold or silver (or copper, in China), long-run price stability was greater than it has been under central banking, which has often begun as a regime of con- vertibility but has always become one of fiat money.”…...

“Fiat money nowhere permanently supplanted convertible currency as the voluntarily preferred medium of exchange, and sometimes, as in the case of the California ‘gold banks’ of the 1860s and 1870s, people successfully defied government attempts to impose fiat money on them” Dowd, Free Banking…...