High Risk Credit[Ron Paul]

House.gov ^ | 20 Aug 2007 | Ron Paul

[Iconoclast2]

Toddster thinks the coins can be made of pot metal, and that the Feds can force you to take them in any state.

[Iconoclast2]

The power to “regulate value” is not the power of alchemy. If there is no gold or silver in the coins, they are not gold or silver coins.

[Petronski]

I don’t know what a “fiat coin” is...

I bet you have one in your pants pocket right now.

[Iconoclast2]

Picky, picky. What I meant to say is that I didn’t know exactly what Toddster meant by a “fiat coin”.

[Petronski]

I believe that those coins in your pocket are exactly what he means.

[Iwo Jima]

Excellent article, don’t you agree?

[Iwo Jima]

And just where is Ronnie here going to find all that gold?

You're economically illiterate, aren't you?

The reason that gold is ideal for use as a currency, the reason that it has been chosen as currency for millenia in so many societies, it precisely BECAUSE it is so scarce. It holds its value better than any other commodity or thing because it cannot be inflated due to its relative scarcity.

However much gold there is, by definition it is "enough."

[Petronski]

Goldbuggery garbage.

[NeoCaveman]

This week marks the 36th anniversary of Nixon’s decision to close the gold window,

Not to defend Nixon too much, but he had no choice as the French were standing at the gold window saying "we'll take the rest, please"

[Toddsterpatriot]

The power to “regulate value” is not the power of alchemy.

I never said it was.

If there is no gold or silver in the coins, they are not gold or silver coins.

That's funny.

[Toddsterpatriot]

Toddster thinks the coins can be made of pot metal

You might want to look up The United States Coinage Act of 1965. Congress, you know, the body that has Constitutional authority "To coin Money, regulate the Value thereof", said that they can be.

[Toddsterpatriot]

Post #94.

[Toddsterpatriot]

You'd think that a guy who claimed to go to Harvard and Yale would have more of a clue. I almost feel sorry for the guy.

[Toddsterpatriot]

However much gold there is, by definition it is "enough."

So we could back an $8 trillion money supply with an ounce of gold? So easy a caveman could do it.

[NeoCaveman]

So we could back an $8 trillion money supply with an ounce of gold? So easy a caveman could do it.

What are you, an anti-Caveite.

[DesScorp]

I swear, this guy is the Louis Farrakhan of the GOP. At first, he starts talking about sensible things like loose credit, business discipline, and market economics, and you’re going “yeah, that’s right”.

Then he opens his mouth and says “and lets bring back the gold standard!”, and all the sane people just leave the room.

[Petronski]

Toddster thinks the coins can be made of pot metal...

They are.

...and that the Feds can force you to take them in any state.

They can and do. You probably have a pocket full of them right now.

[Toddsterpatriot]

I meant, so easy, a goldbug could do it. Yeah, that's the ticket.

[Petronski]

...the Constitutional idea that nothing but gold or silver coin is lawful money?

Please help me find that in the constitution.

[Toddsterpatriot]

It’s in the goldbug version. Normal people aren’t allowed to see it.