Posted on 12/02/2010 4:08:11 PM PST by Nachum
Dems Fume over Wall Street Trillions
http://www.freerepublic.com/focus/f-news/2636747/posts
Define money.
The Founding Fathers thought it was gold & silver coins.
I would agree although other things can be used as money, none of them have the track record of gold & silver.
Who goes to the FED for loans? Anybody rich and powerful enough to do so.
It’s pretty simple. The Constitution says that “No State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts”. People can trade all the paper they want, but the Founders were smart enough to keep the government out of the paper money business. They just didn’t anticipate how quickly the banks would take over the government and install corrupt justices who ignored the Constitution.
Money is what people decide to use as money. Getting the government involved in that choice screws it up just like everything else the government touches, but the consequences are far more serious than most things. It’s like a leukemia of the economy’s blood supply. It kills the patient, or in this case, ultimately leads to tyranny or revolution.
Probably the Founders made a mistake by granting Congress the power to coin the gold and silver money, because that led people to associate the government with money, and accept the tyranny of tender laws. In the beginning, Thomas Paine warned that any politician who even proposed a tender law should be executed, so clearly was it understood what a disaster paper money was.
wow. thanks. learn something every day.
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