Comments on: The U.S. Financial System: A Flimsy House of Paper Promises http://dailyreckoning.com/the-us-financial-system-a-flimsy-house-of-paper-promises/ Entertaining Ideas on the Economy, Markets, Gold, Oil and Investing Strategies. Sat, 11 Feb 2012 04:42:35 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Bob http://dailyreckoning.com/the-us-financial-system-a-flimsy-house-of-paper-promises/#comment-2054 Bob Mon, 09 Mar 2009 03:49:33 +0000 http://dailyreckoning.com/?p=12111#comment-2054 The mighty Mogambo is right. Article 1, section 10 bars states from emitting bills of credit or making anything but gold or silver a tender. Section 8 gives congress the power to borrow and coin money. The key here is the Tenth Amendment, “The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.” This bars congress also from emitting bills of credit or making anything but gold or silver a tender. And, while congress can borrow money, it is bared from using debt AS money. The Corrupt United States (CUS) chooses to violate these provisions, thus making the entire government corrupt and unconstitutional. No one has any obligation to obey the CUS. Lets all complain loudly about CUS words like “Federal Reserve”. The mighty Mogambo is right.

Article 1, section 10 bars states from emitting bills of credit or making anything but gold or silver a tender.

Section 8 gives congress the power to borrow and coin money.

The key here is the Tenth Amendment, “The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”

This bars congress also from emitting bills of credit or making anything but gold or silver a tender. And, while congress can borrow money, it is bared from using debt AS money.

The Corrupt United States (CUS) chooses to violate these provisions, thus making the entire government corrupt and unconstitutional. No one has any obligation to obey the CUS.

Lets all complain loudly about CUS words like “Federal Reserve”.

]]> By: Hughjimbissel http://dailyreckoning.com/the-us-financial-system-a-flimsy-house-of-paper-promises/#comment-1953 Hughjimbissel Sat, 07 Mar 2009 15:20:58 +0000 http://dailyreckoning.com/?p=12111#comment-1953 Mogambo have big ju-ju against inflation devil, now if could just come up with a mojo that would work on idiot socialist politicos.... Mogambo have big ju-ju against inflation devil, now if could just come up with a mojo that would work on idiot socialist politicos….

]]> By: Mike http://dailyreckoning.com/the-us-financial-system-a-flimsy-house-of-paper-promises/#comment-1803 Mike Thu, 05 Mar 2009 17:31:38 +0000 http://dailyreckoning.com/?p=12111#comment-1803 While Congress has the sole authority to "coin Money and regulate the value thereof..," States are required to use nothing but gold and silver coins like you wrote. I feel that just because Congress is negligent of its duties, why should the States do the same? While Congress has the sole authority to “coin Money and regulate the value thereof..,” States are required to use nothing but gold and silver coins like you wrote. I feel that just because Congress is negligent of its duties, why should the States do the same?

]]> By: Liverdiefree http://dailyreckoning.com/the-us-financial-system-a-flimsy-house-of-paper-promises/#comment-1741 Liverdiefree Wed, 04 Mar 2009 23:04:53 +0000 http://dailyreckoning.com/?p=12111#comment-1741 Why do you keep saying the Constitution requires gold and silver currency? The only mention of the topic is in article 1, section 10 and says: "No State shall .. . make any Thing but gold and silver Coin a Tender in Payment of Debts . . . " "No State" clearly does not apply to Congress or the federal government so what is the basis for your oft repeated claim to the contrary? Certainly it should say what you wish it did but it does not appear to say so. Why do you keep saying the Constitution requires gold and silver currency? The only mention of the topic is in article 1, section 10 and says: “No State shall .. . make any Thing but gold and silver Coin a Tender in Payment of Debts . . . ” “No State” clearly does not apply to Congress or the federal government so what is the basis for your oft repeated claim to the contrary? Certainly it should say what you wish it did but it does not appear to say so.

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