[agitator]

Technically, the "dollar" is based on silver not gold. The point being that silver is much less likely to be subject to manipulation as was the case in the 1870's when there were attempts to de-monetize silver by the New York banking barons who held huge amounts of gold.

[sourcery]

According to The Coinage Act of April 2, 1792:

EAGLES--each to be of he value of ten dollars or units, and to contain two hundred and forty-seven grains and four eighths of a grain of pure, or two hundred and seventy grains of standard gold.

DOLLARS OR UNITS--each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver.

Section 11. And be it further enacted, That of gold and silver the proportional value of gold and silver in all coins which shall by law be current as money within the United States, shall be fifteen to one, according to quantity in weight, of pure gold or pure silver; that is to say, every fifteen payments, with one pound weight of pure gold, and so in proportion as to any greater or less quantities of the respective metals.

[sopwith]

"Technically, the "dollar" is based on silver not gold. The point being that silver is much less likely to be subject to manipulation as was the case in the 1870's when there were attempts to de-monetize silver by the New York banking barons who held huge amounts of gold."


The dollar USE to be based on silver and gold.
It is now based on your labor.
That is why the gov. calls it your debt.