Tinker83

Origin of U.S. Dollar as Legal Tender and Its Link to Depression

That quote does in fact outline a state's obligation to pay debt in gold/silver, the sections that destroy the Federal Reserve's basis are:
Article 1 Sec. 8, item 5; "The congress shall have the Power...To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures"

And,
Amendment 10; "The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people."

Which means Congress should be in control of the money, per Art.1:Sec.8, and if it wasn't explicitly granted the powers to do something (e.g. charter a bank) it is, by these standards, illegal.
On Sep 23 02:41 PM kmb wrote:

> I could be wrong here, but I think you might be misreading that quote:
>

The Golden State Standard: California Creates a Currency

correction- if california were to allow private coin to circulate.


On Jul 15 03:44 AM Tinker83 wrote:

> if california were to stamp and circulate gold or silver the federal
> government wouldn't have a leg to stand on. besides... a silver 10$
> coin and a 25$ gold chip would be fine by me...

The Golden State Standard: California Creates a Currency

if california were to stamp and circulate gold or silver the federal government wouldn't have a leg to stand on. besides... a silver 10$ coin and a 25$ gold chip would be fine by me...


On Jul 14 12:10 PM Mark Wallace wrote:

> Article I, Section 10 of the Constitution of the United States: "No
> State shall . . . coin Money; emit Bills of Credit; make any Thing
> but gold and silver Coin a Tender in Payment of Debts; pass any Bill
> of Attainder . . ." The Supreme Court generally has interpreted the
> prohibition against emitting "Bills of Credit" as a ban on the issuance
> of money substitutes or a circulating currency.

The Perversion of American Capitalism

ferguson,

capitalism by fiat operates on debt and borrowing, true capitalism operates on savings and ingenuity. in socialism taxes curb savings, and in fiat capitalism inflation curbs savings. savings and production are the only way to generate real value. socialism is a zero sum argument, and fiat capitalism delivers negative returns- the numbers might look good, but the value actually falls over time.


On Nov 05 10:42 AM ferguson wrote:

> Very good, insightful article, but not necessarily correct. All social
> and economic systems (capitalism no less than socialism) are necessarily
> wheels of fortune. In order to accomplish anything investment is
> necessary. In a socialist society that means taxes. In a capitalist
> society that means borrowing and debt. And both systems are dependent
> on the belief that the unproven ends are worth the unavoidable cost.
> So, spin the wheel and place your bets. The best assurance of a reasonable
> degree of success is that we have honest and intelligent people running
> the game.
>
> For this reason, we are much better off today than we were yesterday,
> since Obama brings both intelligence and honesty to the job, qualities
> that have been sadly lacking in American politics for decades. It
> will take time, but I believe that these qualities, combined with
> the American capacity for entreprenurial initiative, innovation and
> investment will place this nation on a more productive and more rewarding
> path.

Deregulate Transportation to Beat 100 MPG

that is most certainly NOT how free markets are supposed to work. that is how a rigged market fails, and the buzzards that set it up come in to mop the floor. if it had been a free market to begin with, we wouldn't be having this discussion because 100+ mpg would be a common reality right now and not just someone's neat little side project. the rigged market is a shell within the free market, and when the shell starts to crack (as we're seeing now) the free market rushes in for the fire sale. it's nobody's fault but our own for letting it happen.

MZM, M3 Show Flight to Safety

no, that just means it's cheaper to wipe your butt with cash than toilet paper...