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Gold and Silver as Legal Tender
- Thread starter Oni7734
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One of our state senators/representatives proposed a similar thing here in Indiana, but from what I know it didn't pass. I could be wrong...my memory is fuzzy about this.
I am a strong supporter of it though since it says right smack-dab in the US constitution:
"Section. 10.No State shall...make any Thing but gold and silver Coin a Tender in Payment of Debts"
I don't know how you can misinterpret that...
I am a strong supporter of it though since it says right smack-dab in the US constitution:
"Section. 10.No State shall...make any Thing but gold and silver Coin a Tender in Payment of Debts"
I don't know how you can misinterpret that...
Well it says "state", not "Congress".
Of course, the idiot generation voting in the 1910s and 20s would have just amended the Constitution to change it the way they did for direct election of senators, letting women vote, direct taxation and Prohibition.
Too bad we can't repeal the other three moronic decisions.
Of course, the idiot generation voting in the 1910s and 20s would have just amended the Constitution to change it the way they did for direct election of senators, letting women vote, direct taxation and Prohibition.
Too bad we can't repeal the other three moronic decisions.
redpitbull44
Expert
- Sep 30, 2010
- 926
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I'm telling you guys, between Utah, Arizona, and Wyoming, I am really considering moving WEST!!!!
BumpShadow
Master
Wouldn't this be very risky for business's? I mean, 1 dollar is worth $1. One could argue that the dollar is worth less, which it is, but thats on the supply side of the equation, not the the consumer side. I would really like to see what businesses take gold or silver. After all, its becoming more and more common for businesses to not take cash now aday's.
If all will remember a bit of history***the paper notes were only instituted because large amounts of gold was heavy and difficult to carry. The original notes were backed by and payable in gold. Banks, both private and federal were required to keep enough gold on hand to exchange paper notes in kind. If a person had $10,000 in 'Paper gold', there was $10,000 in Actual gold sitting in his/her bank. Coinage was for fractional spending and were minted in gold and silver.
Back in those days, there was ZERO National Debt. Political positions were filled by Patriots who true wished to do the best for the Country. Communities were small and tight knit. People helped each other and policed themselves.
I am not sure exactly when the US Government began to remove our dollar from the gold standard, but I know that it was complete separated during the Nixon administration. A short look at the exponentional rise of deficit spending by the US since then will show all but the completely blind and ignorant that when the dollar became totally fiat, as a country, we have been sliding toward disaster at an ever increasing pace. At this point, IMO, there isn't anything that can avert it.
Ahhh for the bad old days.....
Back in those days, there was ZERO National Debt. Political positions were filled by Patriots who true wished to do the best for the Country. Communities were small and tight knit. People helped each other and policed themselves.
I am not sure exactly when the US Government began to remove our dollar from the gold standard, but I know that it was complete separated during the Nixon administration. A short look at the exponentional rise of deficit spending by the US since then will show all but the completely blind and ignorant that when the dollar became totally fiat, as a country, we have been sliding toward disaster at an ever increasing pace. At this point, IMO, there isn't anything that can avert it.
Ahhh for the bad old days.....
The dollar is fiat, backed by nothing. Sure the numeral in the corners still say $1, but it isn't worth the paper it's printed on. It's value is dropping at an increasingly alarming rate.
What's worse than that, the decrease in value is being pushed intentionally by the Fed. The US WANTS the dollar to be worth less and less, so that it can move us toward a world economy, thus letting other countries help shoulder the responsiblity of our debt and entitlement programs. Additionally, those in power will continue gain wealth at the expense of the lower economic classes.
The middle class is being plundered, plain and simple, yet too many people are only concerned about who's going to win American Idol! I honestly believe that if we don't start turning things around, and soon, that life is going to get very interesting for a lot of people that have been deceived into thinking that the government actually cares about them. By the way, silver exploded last night on the open market 
Who is John Galt?
Who is John Galt?
If all will remember a bit of history***the paper notes were only instituted because large amounts of gold was heavy and difficult to carry. The original notes were backed by and payable in gold. Banks, both private and federal were required to keep enough gold on hand to exchange paper notes in kind. If a person had $10,000 in 'Paper gold', there was $10,000 in Actual gold sitting in his/her bank. Coinage was for fractional spending and were minted in gold and silver.
Back in those days, there was ZERO National Debt. Political positions were filled by Patriots who true wished to do the best for the Country. Communities were small and tight knit. People helped each other and policed themselves.
I am not sure exactly when the US Government began to remove our dollar from the gold standard, but I know that it was complete separated during the Nixon administration. A short look at the exponentional rise of deficit spending by the US since then will show all but the completely blind and ignorant that when the dollar became totally fiat, as a country, we have been sliding toward disaster at an ever increasing pace. At this point, IMO, there isn't anything that can avert it.
Ahhh for the bad old days.....
Wilson got the ball rolling with the Federal Reserve.
FDR, continued down that path with his gold confiscation bank holiday. At this point there was no gold to back up the currency, the but the currency was pegged to the price of gold thus the "gold standard." FDR also monkeyed around with the price of gold in order to manipulte the currency.
Then Nixon, as you say, really boned the dog.
