Posted on 03/28/2018 11:33:11 AM PDT by MNDude
Those were only some of the things the government pays for but the raw numbers are deceptive.
What is the value of its assets? More or less than the total debt? The Grand Canyon, the Hoover Damn, all the property it owns including most of the Western States?
The bi-metalic standard - gold and silver- did not hamper capitalists and financiers in the 19th century.
They will ALL be sent DOWN to where it’s HOT and DARK, soon enough...............................
Money has other uses than as a store of value and they work against it. One of the uses is as a medium of exchange which is the more important.
Money is not defined explicitly but is a function of the velocity of circulation. M.V.= P.Q hence M=PQ/V. or the money supply is derived from Prices, Quantity produced, and the Velocity of circulation.
Gold would devolve into the exchange of paper when purchases were made. Even a dollar is 1/1300th of an ounce of gold. Hence small transactions will have to have a means of exchange therefore it will be “Pay to Barer” on a piece of paper.
Milton Friedman is, as you know, one of the strongest advocates of the Free Market. His solution to the Money Problem was to just set the growth at 3% and let it go.
Hamilton was obsessed with preserving the Union and all his policies were directed to that end. He was an American, not a Virginian, or a Rhode Islander. If only we had more leaders and thinkers like him.
Hamilton knew and understood the Constitution as only a handful of men did. He not only played a major role in writing it but was the strongest and most adamant in calling for the Convention. Because of his advocacy it was ratified. He wrote two-thirds of the definitive explanation of the Constitution- the Federalist. Possibly the greatest work of political science since 1800. It is probable that without his voice the Constitution would have never been ratified.
One cannot admire Hamilton too much,his life was a marvel and his work for the US without parallel.
A nightmare would be for states to have more power. I live in Illinois, the mini-California.
A GS produces deflation since the money supply cannot be expanded to accommodate increasing business. This is why we have had banks for the last 6-700 years.
How does the fed hold that 1000 but as bonds? So the fed owns an increasing amount of the public debt. It is also not mandatory to get the debt alive, it can cancel it.
Its value is what it can buy. That is its basic function in any case.
Paper money is paper money.
CASE CLOSED!
The run on the dollar was the result of the spending on the Vietnam War. War knocks the GS out of balance and results in incontrovertible money i.e. no GS.
The Constitution provides Congress with the authority to carry out its powers which does not exclude chartering corporations. See Article 1, Section 8, paragraph 20.
“To make all Laws which shall be necessary and proper for carrying into into Execution the forgoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or any Department or Officer thereof.”
There is all the proof in the world that the law was and is constitutional.
anyone remember kitco showing zeros before?
The Supreme Court decided otherwise in their McCulloch v. Maryland decision.
Actually the ruling found the direct opposite.
Maryland’s tax was declared to be unconstitutional and voided.
The case had many implications and greatly expanded what was implied in the constitution. Included was that there was no reason to presume that the Bank was unconstitutional.
Marshll’s ruling was essentially Hamilton’s explanation wrt the constitutionality of laws not explicitly specified in the document. He said that before any case was considered he checked to see what Hamilton had said about the subject and the Federalist.
Your comment could not be more incorrect.
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