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Do you think maybe Trump knows that, as originally written,

The Constitution’s Five Monetary Rules:

Read in conjunction with the Ninth and Tenth Amendments, and the obligation-of-contracts clause (Art. I, sec. 10, cl. 1), we can identify five monetary policies that are constitutionally requisite in the United States:

1)The basic unit is the dollar, a silver coin containing 371.25 grains of pure silver. (About $13 in today’s fiat currency. A one oz gold coin, originally fixed at $20, would run about $1450 in today’s dollars)

2)Only gold or silver coins and currency (specie-backed banknotes) can be legal tender.

3)No state may issue coins or currency.

4)No one may counterfeit U.S. Government-issued coins or currency.

5)Fiat money is forbidden.

Of course that is all changed now. Trump is taking us back to sound money. The fed and their fiat currency will go away. But first, the debt will have to be dealt with. Easier done when the money is based on debt. I think the plan may be to lower the interest rate and print debt out of existence with inflated fiat money. After the debacle that causes, we switch back to gold and silver backed currency.

Interesting times...

Don’t disagree - except that the $13 and $1450 in today’s dollars number would automatically increase with the inflation of the fiat currency. (Unless it is pegged by an act of law - and even then the law would have no impact on metal and currency markets overseas so would have minimal impact).

Question is on how to deal with the impact this would have on the common man as day-to-day necessities inflate in price and wages naturally lag the inflation. We went through this type of “stagflation” once in the 70s/80s and it was very difficult on the country. So how to deal with it differently will be very telling.

My guess is that it will be a phased transition over a period of time between fiat treasury bills and US treasury currencies with a pegged rate of exchange between the two. There will be a run out of the fiat immediately with huge deflationary impact if they don’t.

The closest thing I can think of recently would be the transition between the dual currency RenMinBi & Yuan that existed in the PRC up until the late 80s/early 90s. Renminbi were used only for international transactions, the Yuan only internally. There was an internal blackmarket exchange for the RMB as it held value better then the Yuan - but it was illegal for local citizens to possess it. Don’t recall exactly how they transitioned to the single currency - might be a good dig to go look at. In almost every other currency replacement I can think of the citizenry lost their shorts as part of the replacement if they were in cash/savings of any type.

Trump is taking us back to sound money. The fed and their fiat currency will go away. But first, the debt will have to be dealt with. Easier done when the money is based on debt. I think the plan may be to lower the interest rate and print debt out of existence with inflated fiat money. After the debacle that causes, we switch back to gold and silver backed currency.

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Nonsense. The President's plan is to grow America out of debt, if possible.

Mnuchin has already talked about converting a lot of the debt to 50 and 100 year bonds, giving the nation time to recover from globalist policies which have depended on the twin U.S. deficits (trade and fiscal).

All stores of value are psychological, even gold. The last-ditch effort to return the world to the pre-WWI gold standard (between nations) led directly to the Great Depression. No serious people think there is any possibility of the world returning to this approach, unless there is first a disastrous collapse.

No sane person, and no stable genius wants an economic collapse.