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16 Comments
- wjappe, on 12/24/2008, -2/+67You have got to be kidding, If we got rid of the Fed it would be the greatest thing that happened in this country in a millennium.
Wake up, and forbid any other central bank from reappearing, I for one have had enough of their financial insanity. - loki1983, on 12/25/2008, -4/+35the fed is illegal. only congress can coin money/ control it's value. not to mention the gold/silver claus(es) in the constitution too.
- goodselfme, on 12/25/2008, -2/+24Much of the constitution is being abolished right before our eyes. More is coming, I fear. Goodselfme
- dirtpoorchris, on 12/25/2008, -1/+15.... Just go back to sleep buddy. You are not ready to leave the Matrix yet.
- chronically420, on 12/25/2008, -1/+15as the destruction of our country comes it amazes me how people WHO LEARNED ABOUT STUFF LIKE THIS IN HISTORY CLASS cant make the connection of the destruction of other countries. its like they think that because we're america, its different and there will be a different outcome. if you shoot a horse in the head with a .357, what will happen everytime? exactly...
- dirtpoorchris, on 12/25/2008, -1/+14Ron Paul will save us from the Amero.... Obama is for the nafta super highway and he is appointing people into positions who are greatly in favor of the North American Union.
- inactive, on 12/25/2008, -0/+12Actually, the two sections you quote go together. If the States are not allowed to coin money, and they're not allowed to emit bills of credit (print money), and they're required to use nothing but gold and silver coinage asa tender in payment of debts, then where are they supposed to get this coinage but the money Congress is explicitly empowered to coin?
The addendum to these sections is the Act of April 2, 1792, commonly known as the Coinage Act or the Mint Act. This bill was written in the 2nd Congress, and signed into law by the original GW. It creates a mint, and sets up rules for it's operation. It calls for a Head Coiner who is responsible for the silver and gold content of the coins. It creates silver coins from a dollar down to a half dime, copper pennies and half pennies, and gold coinage called eagles.
Interestingly, in the opening paragraphs of the act, it explicitly declares the act to be the fulfillment of Article 1 Section 8. As you read the act, it is undeniable that they are not just authorizing the production of coins, but setting a weight and measure standard ... an American dollar at 371 grains of pure silver, and an eagle at 248 grains of pure gold.
It is also interesting to note that historically, the word dollar is originally german, and is unit of measure of silver ... as in gallons of milk, pounds of sugar, dollars of silver.
Lastly, it's interesting to note that our symbol for a dollar is "$" ... which is a shorthand for ... (drum roll please) ... silver!!
You cannot read either the Constitution, our foundational monetary laws, and know anything about the history of our monetary system to know that it is absolutely the intent of the Constitution for the US to have a silver and gold coinage-based monetary system. At the very least, there should be an amendment enabling Congress to delegate it's authority to the Fed - and there's not. There should be an amendment enabling the States to tender payment in fiat currency - and there's not. There should be an amendment enabling legal tender laws that virtually nullify section 10 - and there's not.
The Constitutional case, and the legal case are actually pretty cut and dried ... especially in light of the 10th Amendment restricting all powers not explicitly granted the Federal government to the states or to the people. Congress had no authority to create the Fed, or pass legal tender laws without amendments.
Other than that, we agree. Regardless of Constitutional arguments, a practical understanding of FA Hayek will enable you to defeat the idea of a central bank on political science merits. And a practical understanding of Austrian economics will enable you to devastate Keynesians in any debate - I reference Peter Schiff. Personally, I recommend hitting them with all three barrels right between the eyes ... and don't be shy about burning up the ammo! - CasaWood, on 12/25/2008, -1/+11There are many sound arguments that everyone can hear regarding the need for the Fed...it is only there to feed Fed-Zilla, however. Without the three 1913 steps toward nationalism we would be in far better shape and our Federalist Republic would not have been killed. The 16th and 17th Amendments need repealing yet one good place to start the resurrection of the our dying Republic is by ending the Fed. Dr. Paul will no doubt introduce this bill again...support it, don't let your representatives (they're not your leaders folks) claim they know nothing of it, and let the mass media know you know they cover up important news like the anti-Fed protests so we can focus on true wonders like what puppy the Pres-elect is going to choose.
- chronically420, on 12/25/2008, -0/+8man you are so ***** ignorant it astounds me...you cant be this stupid, this MUST be a troll...
- shig, on 12/25/2008, -0/+5The Center for Research on Globalization is a standard bearer in the fight against globalization.
http://www.globalresearch.ca/ - shig, on 12/25/2008, -0/+4"The power to coin money is granted to Congress, yes, but Congress delegates it's responsibilities often. Is that necessarily a bad thing in all cases?"
It is a bad thing in all cases where the Congress defers their power, which is expressly granted to it by the people, to a body that is not directly answerable to the people, or to their elected Representatives. - eqisow, on 12/25/2008, -3/+6Stop repeating back everything you hear please. As much as I'm for the dissolution of the federal reserve and fiat currency, there is nothing in the constitution that explicitly mandates gold and silver at the federal level. The line reads as follows:
"No **State** shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; 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, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
In case you didn't notice, this is from Article 1 Section 10. That it to say, it list the restrictions on the powers of the **States**. It says nothing about what the federal government may or may not do.
The only other reference to money I know of gives congress the power "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures." While the "weights and measures" clause seems to assume a gold standard, it is not explicitly stated to be the only legitimate form of currency.
As far as the federal reserve goes, I see both points of view here. The power to coin money is granted to Congress, yes, but Congress delegates it's responsibilities often. Is that necessarily a bad thing in all cases?
At any rate, my advice is this: drop the constitutional argument. Not only will it not get you anywhere this day in time, it's not even a water tight argument. Instead, argue the merits. Then, argue for a constitutional amendment to clarify the illegality of a central bank and fiat currency. - inactive, on 01/20/2009, -1/+1fta: "Using gov't data, it now takes over $2000 to equal $100 of pre-Fed purchasing power. IoW, a 1913 dollar is worth about a nickel today."
True enough, except that a 1913 dollar is a silver certificate: "illegal" to hold but highly prized by "collectors." - inactive, on 12/24/2008, -49/+2get the picture sheep? right in you're FACE. and you TAKE it.
Centre for Research on Globalization
Stephen Lendman is a Research Associate of the Centre for Research on Globalization. He lives in Chicago and can be reached at - inactive, on 12/24/2008, -51/+3Ron Paul, leading the way to the destruction of America.
Welcome to AMERO. - inactive, on 12/24/2008, -56/+2ron paul dribble.
these people are following treason, with ron paul in the lead.
worse than obama sheep.
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