Recent content by Seven29

That’s an other perspective, but I mean the Fed isn’t really a private bank. Also, why use “suckers”? That comes across as disrespectful.

Yes.

Last Point is right.

Washington, D.C. isn’t part of any U.S. state. We were looking at Article I, Section 10, which prohibits the states from issuing paper money.

Interesting. But it still seems like monetary policy is in the hands of the Fed, rather than in the hands of Congress. By the way, I just found out that it was created by Congress in Washington, D.C., which isn’t part of any state. This is confusing. Did they manage to make this compatible...

Thank you. But doesn’t this mean that the Fed is taking powers that belong to Congress? Or is the Federal Reserve under the authority of Congress?

But Article I, Section 10 of the U.S. Constitution forbids states from printing paper money, and the only legal tender is coins made of silver or gold. Articel 1, Section 10: „No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money...

No, this isn’t part of my lesson; I’m just interested in U.S. history, and maybe it will be important later. I mean, if no one can explain this, how can people in the U.S. tolerate it? I might be young and inexperienced, which is why I’m asking—nobody in my circle seems to have an answer for...

Dear Members, I am new here and hope to meet knowledgeable people who can answer my questions and help me deepen my understanding. I am studying law, and while reading about the history of U.S. law, I came across an issue that raised some questions. One of them concerns Article I, Section 10...