Discussion in 'Economy' started by JBeukema, Nov 8, 2010.
Should we end the unconstitutional fiat system and reinstate the constitutional money system?
What does 'constitutional' have to do with it? Whichever leads to a more robust economy. The 'Big C' Constitutional question must be moot or the USSC would have ruled. It seems to me that the contraction in the monetary system that would occur should fiat money be abolished, would also lead to a contraction in the economy.
You read the text, congress reserves to itself the right to define and coin money. In the 1790's we used the spanish dollar as the basis for the US dollar. Same weight, same proportion of silver. Congress sets the standards, but the standard can be anything.
Gold and Silver are no more "constitutional" than Cowrie shells, gourds, or giant rocks.
What makes money, money in a particular place is the government mandates payment of taxes in this particular form. This means the people are obliged to have it, and there is one place you can always use it. The form is irrelevant.
I had some money one time but I got married. Now, it doesn't matter what it's called. I don't usually have much of it.
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