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.
Wanderer: Congress was supposta do this directly, without a central bank acting as a middleman.
Congress was supposta do this directly, without a central bank acting as a middleman.
No, congress was supposed to say that if you stamp $20 dollars on your coin, it has to weight x amount. That is all. Anyone can mint coins, congress says what a dollar is worth and that is the end of it. States can also issue their own currencies according to that act. Those currencies need only be gold and silver. The denomination only serves to make arithmetic easier.
I think the whole constitution is illegal though. I'm just saying if you follow it that is what it says.
I am Saan
"Section 10. No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit...."
so is the act you speak of counter to this section??
SilentXtarian:I don't see why people who claim to love the constitution can be okay with fiat currency and what's going on today.
They're just being consistent: they love one piece of paper (the constitution) and they also love other pieces of paper (fiat money).
AnalyticalAnarchism.net - The Positive Political Economy of Anarchism
the constitution is online now too.