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15 Dec, 2009 21:16

Pay in US Starbucks with roubles?

American Congressman Ron Paul has introduced an act to legalize competing currencies, like gold and silver, to circulate next to the greenback.

The role of the American dollar as the world's reserve currency is being challenged… and now there're questions about its future even inside the US.

Some Americans started to make and use their own currencies. Does Ron Paul's bill work so that people can pay in Starbucks with roubles?

Richard Cook, economist: “Right now there are in the US hundreds of communities, that are beginning to print their own local currencies – a massive movement,” adding “Their currencies are already legal to be exchanged in trade.”

He also adds that people can use the currencies without having them in their hand or in their wallet. They can exchange them through the Internet – and this is becoming major.