US Constitution Article 1, Section 8, Clause 5:
It is really beginning to look like the American States have the Constitutional right to coin their own money. Some resources:
It is really beginning to look like the American States have the Constitutional right to coin their own money. Some resources:
If they have these rights, why did never one of the States tried to do so, except during the Civil War?
From what I can tell, there was a shift towards a national money. Clearly the national bankers were uninterested in state banks competing into their profit margins.
And I think you are exactly right the American Civil War was the last real episode of states asserting sovereignty over the national gov't. High price to pay.
I see you've been doing some research into the History of U.S. Coinage... We made mistakes in the early days of the United States... I think using Gold and Silver in our Coinage was a big mistake, but that's what the Merchants were accustomed to using... Old habits are hard to break...
Yes, paper money itself is not bad. If it were owned by the public it has worked well in history.
The trouble with Federal Reserve Notes is that they're owned by the Central Bank Owners, who own the Federal Reserve Banks... We have to Borrow FRN's, and pay interest on them, until they're returned... That's very Expensive, using their Debt Notes instead of our own Currency... What a scam...
Alright things got real serious here......................
Skipped several to reach the Joseph story. From 1112 dot it starts to become clear that matter was not resolved by then and a bit of ambiguity remained. Then in 1114 dot and 1115 it expressly says the rights of the states were superseded by the union in matters of minting metal based currency as well issuing paper based money. In this the states, to begin with cannot simply issue bills of credit much less declare them legal tender (neither the state or a bank backed by it).
What I found interesting is that the debate never even reaches the point where states get the right to declare something as legal tender. The simply cannot issue anything that can be declared as legal tender.
People might have a chance here to reopen this dialogue from an international perspective. Man those are some incredibly fine pointers hiding in the detailing............ amazing, how did it catch you eye?
Yes I agree, the Constitution itself is interpreted as a document that strengthened the federal gov't (with the decentralized Articles of Confederation as lesson). So clauses like this would not be interpreted to detract from federal gov't. But it seems to have gone far to far many would say.
States should be able to coin local monies. Free people are free to choose which money to use in their daily lives.
Thank you for your continued support of SteemSilverGold
Really... I never knew. I really wonder what the worth of the USD will be should all the states decide to coin their own currencies.
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It's really right. I like article 1 and 7.
I'm living metals more and more....