Posted on 04/06/2023 6:40:14 AM PDT by Red Badger
The key in stabilizing the value of the dollar is to stabilize the number in circulation.
Or reduce them...........................
Another possibility is to color and size code the dollar and have each year’s issue expire say ten years after issue (twelve years for payments to the IRS).
The haven’t been redeemable for silver from the government for decades. They have som collector value, and have the legal status of face-value Federal Reserve Notes.
"THREE CONGRESSMEN INTRODUCE GOLD STANDARD BILL TO STABILIZE THE DOLLAR'S VALUE"
This is another gold standard article that doesn't mention constitutional clauses that directly address this issue.
"Article I, Section 8, Clause 5: To coin Money [emphasis added], regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;"
"Article I, Section 10, Clause 1: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts [emphases added]; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
The problem is that seemingly constitutionally clueless authors of articles relating to gold standard are writing about legislation being made by seemingly Constitution-ignoring lawmakers.
Note that Justice Joseph Story had indicated that drafters of Constitution were aware of post-American Revolution problems with regulating value of paper money which is why drafters limited currency to gold and silver coin.
More specifically, paper money effectively nullifies the fed's power to regulate value of money.
"It has been justly remarked, that the power "to coin money" would, doubtless, include that of regulating its value [emphasis added], had the latter power not been expressly inserted. But the constitution abounds with pleonasms and repetitions of this nature."—Joseph Story, Article 1, Section 3, Clauses 4 and 5, Commentaries on the Constitution 2:§§ 732--33, 735--39
"It is further to be observed, that the states cannot issue bills of credit; not that they cannot make them a legal tender; but that they cannot issue them at all. This is a clear indication of the intent of the constitution to restrain the states, as well from establishing a paper circulation, as from interfering with the metallic circulation [emphases added]."—Joseph Story, Article 1, Section 3, Clauses 4 and 5, Commentaries on the Constitution 2:§§ 732--33, 735--39
FDR's gold confiscation is one of several examples of his official actions that ignored Constitution imo.
Executive Order 6102
It's as if Democrats and RINOs were studying the ideas that constitutional lawmakers had rejected and are now implementing them to try destroy the constitutional republic.
Patriots, the bottom line is this imo. What is your threshold of “pain” for peacefully stopping unconstitutionally big state and federal governments controlled by bully, constitutionally undefined political parties, from oppressing the people under their boots?
The inevitable remedy for ongoing, post-17A ratification, corrupt political party treason (imo)...
All MAGA patriots need to wake up their RINO federal and state lawmakers by making the following clear to them.
If they don’t publicly support either a resolution, or a Constitutional Convention, to effectively "secede" ALL the states from the unconstitutionally big federal government by amending the Constitution to repeal the 16th (direct taxes) and 17th (popular voting for federal senators) Amendments (16&17A), doing so before the primary elections in 2024, that YOU will primary them.
If the proposed amendment was limited strictly to repealing 16&17A, relatively little or ideally no discussion would be needed before ratification of the amendment imo.
With 16&17A out of the way, my hope is that Trump 47 becomes the FIRST president of a truly constitutionally limited power federal government.
In fact, unconstitutional Social Security, based on FDR era stolen state powers imo, is projected to run out of money by 2033 as a consequence of alleged Democratic and RINO criminal mismanagement of SS funds, unconstitutional, unaccountable federal spending a major concern.
Social Security trust fund on track to run out in 2033: analysis (3.31.23)
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." —Justice John Marshall, Gibbons v. Ogden, 1824.
“If the tax be not proposed for the common defence, or general welfare, but for other objects, wholly extraneous, (as for instance, for propagating Mahometanism among the Turks, or giving aids and subsidies to a foreign nation, to build palaces for its kings, or erect monuments to its heroes,) it would be wholly indefensible upon constitutional principles [emphases added].” — Justice Joseph Story, Commentaries on the Constitution 2 (1833).
So the sooner that 16&17A are repealed, putting a stop to unconstitutional federal taxes, the sooner that the states will find new revenues to establish their own SS programs, depending on what state social spending programs the legal majority citizen voters of a given state want.
”Simply this, that the care of the property, the liberty, and the life of the citizen, under the solemn sanction of an oath imposed by your Constitution, is in the States and not in the federal government [emphases added]. I have sought to effect no change in that respect in the Constitution of the country.” —John Bingham, Congressional. Globe. 1866, page 1292 (see top half of third column)
"[...] a single courageous State may, if its citizens choose, serve as a laboratory; and try novel social and economic experiments without risk to the rest of the country." —Justice Louis Brandeis, Laboratories of Democracy.
Finally, hasn't it been about 100 days since so-called "MAGA Republicans" took control of the House? Have they done anything to brag about so far?
Primarying RINOs in 2022 was just for practice. Trump will hopefully do another round of primarying for 2024 elections.
$12.25 trillion is the estimated value of all the gold ever mined in human history. The US national debt alone is over twice that.
So you have identified a mismatch. And you have identified that US is absolutely bloated with debt in our present system where money is created out of nothing.
Perhaps gold is undervalued, and the "value" of US debt is far too high?
For a gold-backed dollar to work, it is indeed correct that the value of the US Dollar will need to be devalued significantly.
Who do we owe the debt to? It has to be the other nations and deep state so hand them each a trillion dollar bill. Then, you can declare a new currency backed by gold.
Why not just introduce a bill that says they must obey the Constitution since they didn’t amend it in order to permit them to legally print funny money.
Well considering it is over $2000.00 now maybe silver, it is only up 20% at about $25.00 today.
Nothing now because they were declared worthless after a certain time. A collector may buy it, might even be valuable to them.
Wouldn't the value depend entirely on the current price? Why not give the amount of gold refined by weight?
John Maynard Keynes made the same observation declaring we only owe the debt to ourselves. Personally I am now leaning toward establishing the Jubilee year again. {:~)
The best estimates currently available suggest that around 208,874 tonnes of gold has been mined throughout history.
That’s about 460 million pounds of gold total, ever mined in history.
I think the gold standard, like the US Constitution, only works for a moral people and when policed by a likewise moral media.
For the most part, we (the world) no longer have either.
You make good posts. Those about economics never make sense. I might start saving your predictions and remind you when one can prove they were wrong.
What will we do if 10 Chinese cargo ships pull up and the ChiComms demand that we convert their dollar holdings into gold … now … and load it onto the ships?
“You make good posts. Those about economics never make sense. I might start saving your predictions and remind you when one can prove they were wrong.”
Thanks. I had a good laugh. I went back to see if I’d made predictions, which I understand can be dangerous. I was just trying to explain how we got to where we are and why I don’t think the Yuan can replace the dollar. Maybe that’s a prediction. While lots of countries would like to dethrone the dollar, especially places like Saudi Aribia whose leader has been personally insulted by Biden who said he called bin Salman essentially, a murderer. (see link) Is it any surprise that bin Salman has gone out of his way to do anything he can to hurt the US? (Or, more likely just hurt Biden.)
Countries are afraid they’ll suffer the same sanctions as Russia. But they can spend their dollars anywhere even if the US won’t take them. Others will. And, they can use SWIFT to convert them instantly. The Yuan, though, is a different story. Let’s say Brazil wants to pay some third party for cement in Yuan. That party would then have to convert the Yuan without any prior agreement with China into something else. I can see a percentage on both sides of the transaction, say ten percent more than face value on both sides paying and converting. That would be a twenty percent premium. And, still there would be risk that someone will not want to go through the effort of converting.
https://news.yahoo.com/biden-said-told-mohammed-bin-202415054.html
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