Federal Reserve Notes vs Texas gold-backed digital currency

I am still on the fence about this one. However, I would immediately support a Texas legal tender coined with gold and/or silver content, which is a bit different than a digital created currency backed by gold, and may run afoul of our Constitution.

the Republic of Texas did print money…

The Constitution specifically says the States must pay in silver or gold coin.

Federal reserve notes are not that and the States not offering silver or gold coin for payment of debts violates the Constitution.

Moreover the federal government is in the same context only to use such Money, not any old money. So gold or silver there too.

It also says only the fedgov can print money. This is retarded.

No. “Money” capitalized outside of the ordinary rules of grammar, a way derived from English Common Law practice to specify that a particular sense of the word is meant rather than any old sense.

The difference here can be seen in contrasting A4:S2:C1 and language in the 14th Amendment.

“Privileges and Immunities” in the former refers to a specific body of “Privileges and Immunities” common among all the several States that ratified the language when they Ratified.

In the 14th the only intended function of the “privileges or immunities” clause was to enumerate a Power to Congress to enact civil rights legislation that State actors could not disparage. It was not in any reference to any given body of privileges or immunities so neither word was capitalized to indicate such, and indeed until Congress acted to enact a politically sourced privilege or immunity one could not know what these would be beforehand when the language was adopted.

The “poi” clause was not adopted only so a specific act could be passed, the civil rights act subsequently enacted only then on the firm grounds that there was an enumerated Power behind it.

This will not happen. The concept has tremendous opposition within the Republican Party, including from the likes of Senator Cruz and Governor DeSantis.

And even if it did pass, the Federal Government would squash it like a bug.

If you think for a second that the Federal Government is going to tolerate any competition or interference with its magic money machine, I have some beach front property to sell you in Maricopa County.

image

Liberty Dollars got squashed pretty quickly.

The magic money machine is the the the number one pillar holding up the Federal Government. It allows the Federal Government to borrow, spend and inflate with abandon.

Anybody who posed a serious risk to that power would probably find a bullet in his head.

Would one rather hold gold or dollars right now? Don’t get me wrong I think the most pressing issues are saving the dollar followed by illegal immigration and insourcing/outsourcing. Someone in power is going to have to do some unpopular things and raise taxes and do huge cuts we are closing in on 130% debt to GDP, and one only has to see the effects are already coming in from not being able to reign in inflation to countries ditching the dollar. Regardless of ideology that should be the number one priority - save the dollar.

Why are you making stuff up? Provide the provision where our Constitution grants authority to our federal government to “print money”.

It’s not nice to make stuff up.

JWK

“Of all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich man’s field by the sweat of the poor man’s brow.”__Senator Daniel Webster, DEBATING THE BANK BILL May 25th, 1832

I have no problem with either. The problem is with “Federal Reserve Notes” and making them a legal tender for all debts public and private in violation of our Constitution.

JWK

But if what is us’d as a Medium of Exchange is fluctuating in its Value it is no better than unjust Weights and Measures, both which are condemn’d by the Laws of GOD and Man, and therefore the longest and most universal Custom could never make the Use of such a Medium either lawful or reasonable. ___ Roger Sherman, Delegate to the 1787 Convention

Congress shall have… the power to coin money

States are specifically prohibited. You know this.

Yup . . . “coin money”. And HERE is the constitutionally defined dollar. You apparently didn’t know this.

Um, there have been a few changes since the second congress.

You deflection is noted. But hey, you are free to post the words from our Constitution granting power to Congress to “print money”.

Additionally, nothing in our federal constitution forbids the states to mint silver and gold bars of a specified weight and purity and make them a legal tender in payment of debt.

JWK

When Federal Reserve Notes were made a legal tender in violation of our Constitution, and a direct un-apportioned tax was imposed upon the people without their consent, America’s free enterprise, free market system was subjugated, and the tools of oppression and thievery were made available to some very immoral and nefariously evil people.

The States are prohibited from using anything but gold or silver coin to pay their debts. That means they cannot lawfully use anything else even if it is called “money” no matter who makes it.

Your assertion that the federal can make any old sort of “money” would then mean that by intentional neglect for the provision of gold and silver coin Money that they could prevent the lawful operation of State governments. So clearly, as the abolishing of the States was NOT what the States agreed to when they Ratified the Constitution, the reference to “Money”, and not “money”, means that form of Money that the several States may lawfully pay their debts with … and that is ONLY gold or silver coin.

Not to the Constitution for what Money is. Statutes or accumulated abuses and misconstructions are not amendments.

From Wikipedia:

The press release also stated that the “Liberty Dollars” are meant to compete with the circulating coinage (currency) of the United States and such competition consequently is a criminal act.

:confused:

I don’t understand how it qualifies as “competition”.

:joy:

A law enabling state governments to accept non-gold/silver money—an expansion of what they are allowed to do—qualifies as abolishing state governments in your eyes. What a riot!

Printing is for all intents and purposes, the same as coining. No deflection.

Gold bars are not money. States are specifically prohibited from coining money. You know this and prefer to play word games.

As I sometimes point out:

Specie money does not necessarily need a government or central bank telling you it exists and has value. It really only needs a consistent system of weights and measurements.

Fiat currency cannot exist or have value without a government and central bank demanding it exists. But physical fiat currency is still a hassle to confiscate for government and central banks.

Digital currency solves any hassle to government and the central bank. They can do whatever they want to whoever they want whenever they want and eliminate even the literal paper money trail.

Not long ago, IIRC, some toad from the federal reserve asserted that a basic function of banks is to verify all transactions … so it seems to me that anything that limits their ability to do things like that competes with them from their POV.

No amendment to the Constitution exists allowing the States to pay in anything else than specie coin.

So if there is no gold or silver coin they cannot lawfully pay their debts.

It doesn’t matter what the federal calls “money”.