RE: 3393 commentary. The historical silver/gold ratio is in the neighborhood of 15-1.
Gold double eagle =~.96 oz gold (=$20)
Morgan dollar =.773 oz silver
About 16.1/1 by the old standard uS denomination wise.
Recall that I’ve noted in the past that the 1986 legislation (hat tip Ron Paul) that authorizes the current minting of gold and silver “in such quantities as are demanded by the public” have well matched or exceeded the quantity minted in the past in circulation among the public, adjusted for population.
The stage was conveniently set 33 years ago for a return to a metal backed monetary system.
Side note- I’ve also found it intriguing that the “U” in united States was switched to lower case on the silver eagles around 2008. Some legal theorists interpret the use of upper/lower case in the descriptor to indicate either the corporation United States (upper), or the union of the several States (lower).
Re: metal backed currency
The Constitution allows state to introduce their own currency if they are backed up with either gold or silver. Texas is developing their own gold backed currency to be used if needed.
Re: metal backed currency
The Constitution allows state to introduce their own currency if they are backed up with either gold or silver. Texas is developing their own gold backed currency to be used if needed.