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Author Topic: Convince Me....  (Read 18265 times)

John Edward Mercier

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Re: Convince Me....
« Reply #105 on: October 26, 2010, 07:26:38 pm »

In other words, they are supposed to keep the value of the money constant.

Sooo, they're were supposed to maintain a fiat currency. Problem.
He doesn't get that he's arguing my points.
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John Edward Mercier

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Re: Convince Me....
« Reply #106 on: October 26, 2010, 07:30:45 pm »

I should add - they are also authorized to regulate the value of the money (but in the late 1700's regulate meant "make regular", not "make rules about according to political interests". In other words, they are supposed to keep the value of the money constant.
Hence why a quarter equals twenty-five US cents, while twenty-five US cents in their non-fiat market version is worth much more than a quarter.

And we don't use the meanings as represented in the 1700... else the 2nd Amendment means black-powder arms.
« Last Edit: October 26, 2010, 07:33:23 pm by John Edward Mercier »
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John Edward Mercier

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Re: Convince Me....
« Reply #107 on: October 26, 2010, 07:37:25 pm »

Article 1, Section 8 of the Constitution authorizes the coining of money, not the creation of a fiat currency - the intent was not to give Congress the ability to control people via money, but just to have a standard currency (which we now know a lot more about, it doesn't take government to do this). Fiat currency is an unconstitutional experiment that failed in all its previous iterations, and only under a central bank, the Fed, did the current version that began in this country in 1933 have any success (defined loosely to allow for massive devaluation of the currency under the arbitrary whims of a legally-created monopoly) and certainly Congress has the power to end it.

As for the history argument, I say that since the world fiat system is on the verge of bankruptcy, there is a high probability that economic reality will force the end of the currency no matter what the political types try to do to save it.
You need to get your history and dates straight. The USD was devalued under the Gold Standard by an act of Congress... this was the reason for FDRs Executive Order. The FED until after the ending of the Gold Standard was not authorized to devalue currency... and in fact it, not the FDIC, was purposed originally with maintaining purchasing value.
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Re: Convince Me....
« Reply #108 on: October 26, 2010, 10:02:53 pm »

The dollar always was, and still is, exactly 371.25 grains of silver. It's not an abstraction but a unit of weight. You could pay ten dollars in say, Mexican coin that contained 3712 grains of fine silver.
This idea that money  is an abstraction would be utterly foreign to the founding fathers.
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New Hampshire Charter: Considering with ourselves the holy will of God and our own necessity, that we should not live without wholesome laws and civil government among us, of which we are altogether destitute, do, in the name of Christ and in the sight of God, combine ourselves together to erect and set up among us such governments as shall be, to our best discerning, agreeable to the will of God.

time4liberty

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Re: Convince Me....
« Reply #109 on: October 27, 2010, 01:05:45 am »

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Silver and gold are fine replacements as far as I'm concerned.
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Then we didn't need an American Revolution.

Yes, the only reason to oppose monarchy is in order to jam fiat paper currency down the throats of ones countryman. Give me a break ... ::)

This conversation has officially lost all relevance or credibility.
« Last Edit: October 27, 2010, 01:11:11 am by time4liberty »
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