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Posted on 08/29/2025 6:33:59 AM PDT by delta7
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One thing I discovered, carefully troubleshooting leftists, they claim that gold isn’t money. Or anything else for that matter. Of course they know it is money.
They just don’t like it. Because it has at least some value independent of government. It can be made illegal, as was the case for gold. But they can’t make it un-valuable. Thus it serves as an asset or a way to store wealth.
They reject that too. Or more specifically they don’t like that either. A phony baloney paper currency that does not offer a way to store wealth and in fact can be rendered worthless at any time is more their speed.
It’s like shooting fish in a barrel if you understand how they think. Very creepy
Not true. All kinds of things have been used for the purpose of money. Money is a medium of exchange: That is, a way to exchange dissimilar items in a transaction. Everything from salt to animal hides has been "money" at one time or another. Even cigarettes have been used as money by prisoners in WWII. In the US, money is not backed by gold or silver. It is backed by what you can exchange it for. In a very real sense, it is GNP that determines the value of money.
Bank Note - payable to the bearer
Payable with what? - in legal tender
what is legal tender in the US?
the same Paper Notes.
So your claim in the paper notes is payable in paper notes, for your paper notes.
Only a Banker could come up with such nonsense.
A Circular Cluster Phuuuck.
Alexander Hamilton was one of the framers of the Constitution, and his Bank of the United States was signed into law by George Washington. Was this unconstitutional?
Imagine the world we could live in, if our government wasn’t constantly stabbing us in the back.
“THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE”
Federal Reserve notes can be used to pay rents, mortgages, doctors and hospital bills, which makes them valuable.
fl8r
And, now there is bit coin...which I finally understand.
Money is a medium of exchange: That is, a way to exchange dissimilar items in a transaction. (the concept of moneyness) Everything from salt to animal hides has been "money" at one time or another. Even cigarettes have been used as money by prisoners in WWII.
What money ‘does’ is not a definition of what money ‘is’.
Pegged you perfectly.
The First Bank of the United States incorporated gold and silver.
https://www.federalreservehistory.org/essays/first-bank-of-the-us
“ ….It did not regulate or act as a lender of last resort for other financial institutions, and it did not hold their reserves. Nonetheless, its prominence as one of the largest corporations in America and its branches’ broad geographic position in the emerging American economy allowed it to conduct a rudimentary monetary policy.
The bank’s notes, backed by substantial gold reserves, gave the country a relatively stable national currency. By managing its lending policies and the flow of funds through its accounts, the bank could—and did—alter the supply of money and credit in the economy and hence the level of interest rates charged to borrowers.
These actions, which had effects similar to today’s monetary policy, can be seen most clearly in the Bank’s interactions with state banks. In the course of business, the Bank would accumulate the notes of the state banks and hold them in its vault…..* When it wanted to slow the growth of money and credit, it would present the notes to banks for collection in gold or silver, thereby reducing state banks’ reserves and putting the brakes on their ability to circulate new banknotes. To speed up the growth of money and credit, the Bank would hold on to the state banks’ notes, thereby increasing state banks’ reserves and allowing those banks to issue more banknotes by making loans.”
——————-
As you can see, Gold played an important role as it ultimately backed and controlled the paper issuance.
As a footnote, eleven States have now codified into law physical Gold and Silver to be “ legal tender” in their states, a move against the rapidly declining dollar.
There simply isn’t enough gold and silver to run a modern American economy.
If the US went to a gold money system, the gold would wind up in China in about a year because the US runs trade deficits.
The Congress could declare copper coins somewhat bigger than a nickel be worth a dollar, but copper coins are easy to counterfeit. Paper money is less subject to counterfeiting, therefore under the “necessary and proper” power of the Article I, Congress has authorized the issue of paper money.
As Congress knows that it is a bunch of vote-buyers, to make the money acceptable, it under its “necessary and proper” power allows a somewhat independent organization called the Federal Reserve to manage it. A dollar is worth ‘a dollar’ until a business or tradesman raises its/his price.
Do enlighten everyone on how Congress managed to do that.
Are gold and silver coins easy to counterfeit as well?
Federal Reserve notes can be used to pay rents, mortgages, doctors and hospital bills, which makes them valuable.
——————
The U.S. dollar has lost 99 percent of its purchasing power since 1913, and twenty something percent since 2020. Definitively not “ valuable “.
https://www.bls.gov/cpi/factsheets/purchasing-power-constant-dollars.htm
Purchasing power
The CPI can be used to show how the purchasing power of a dollar changes over time. The purchasing power of a dollar in 2022 was about 92.6 percent of the purchasing power of a dollar in 2021. This can be calculated by dividing the CPI-U U.S. city average all items annual average index value for 2021 by the CPI-U U.S. city average all items annual average index value for 2022, as shown in table 1.
To illustrate, it now takes 3,400 paper dollars to buy an ounce of Gold…the price of Gold has not gone up, but the paper USD has declined ( it takes more paper USD’s to buy an ounce)….most cannot comprehend that fact.
THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE”
Federal Reserve notes
/
Notes ?
Another fraud.
Notes
are a legal contact
” is a written promise by one party to pay a specific sum of money to another on a given date or on demand”
And must contain 2 things.
Signature of the issuer
Signature of the receiver
FedRes ‘ notes’ have neither
They are a fraud that constitute an illegal obligation , a counterfeit.
“Federal Reserve notes can be used to pay rents, mortgages, doctors and hospital bills, which makes them valuable.
——————
The U.S. dollar has lost 99 percent of its purchasing power since 1913, and twenty something percent since 2020. Definitively not “ valuable “.”
—
Which is why Federal Reserve Notes are currency, not money.
They fail the 3rd definition of money. A store of value.
There is a reason why they don’t teach about money or finance in schools, including Universities and Colleges. They want the people like sheep to be sheared.
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