Section 10. No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.
I don't see why people who claim to love the constitution can be okay with fiat currency and what's going on today. The nation was meant to have gold and silver as its national currency. So... I don't know how the whole constitutional argument got overlooked.
They've read as much of it as members of parliament read the bills they vote on.
The coinage act of 1792...was that constitutional?
did a process to undo sec 10 need to take place or did it?
i didnt see copper mentioned in the constitution section you posted.
Fuck the constitution! Don't tell me what money I can use!
Caley McKibbin: They've read as much of it as members of parliament read the bills they vote on.
Oh you parlimentary hooldum you.
Because they DON'T love the Constitution. They view it as a "living document" which is bullshit. How often can you unilaterally change the term of a contract claiming that it is a "living document"? The Founding Fathers were not perfect men, but they knew that if a government were to exist, it should extremely limited.
Periodically the tree of liberty must be watered with the blood of tyrants and patriots.
Thomas Jefferson
sthomper: The coinage act of 1792...was that constitutional? did a process to undo sec 10 need to take place or did it? i didnt see copper mentioned in the constitution section you posted.
The Constitution only says gold and silver. I think that was an error on SilentXtarian's part.
The language should've been more specific. It didn't say central banks couldn't make money, just that states couldn't.
Since there was no mention of a central bank, it was implied that there would never be one.
Or the language was specific and they didn't want central banks to make money.
To coin money, regulate the value thereof, and of foreign coin....
were central banks to only do this with congressional approval?
Wanderer: Since there was no mention of a central bank, it was implied that there would never be one.
A fair argument, but obviously not strong enough to have stopped the creation of a central bank. It's a shame that they didn't put in the language against central banks. It would've saved us so much time and hardship.
sthomper: To coin money, regulate the value thereof, and of foreign coin.... were central banks to only do this with congressional approval?
I dunno, it probably says something to that effect in the Federal Reserve Act.
...make anything but gold and silver coin a tender in payment of debts...
is tender in payment of debts significantly different than money?
Congress was supposta do this directly, without a central bank acting as a middleman.