Restoring Sound Money to America
The comments below are an edited and abridged synopsis of an article by Jacob G. Hornberger
The US Constitution states that Congress shall have the power to coin money and regulate the value thereof, and to provide for the punishment of counterfeiting US currency: “Article 1, Section 10: No state shall … emit Bills of Credit and make any Thing but gold and silver Coin a Tender in Payment of Debts.”
The intent of the Framers of the Constitution could not have been clearer. The Constitution unequivocally brought into existence a monetary system based on gold coins and silver coins as the official money of the US.
Hornberger discusses the provisions of the Constitution, and concludes that it established a monetary system in which gold and silver coins were to be the official money of the US.
“The solution to all this monetary mayhem is go further than the Framers did: Separate money and the state entirely, in the same way that our ancestors separated church and state. Terminate all government involvement in money, including by ending the federal government’s central bank, also known as the Federal Reserve. Establish a free-market monetary system, one in which people are free to choose their own media of exchange. That would go a long way toward restoring liberty, peace, and prosperity to our land.”
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