From our Constitution - Help for a Monetary Crisis that is
Out of Control
Where is the federal system
taking us with all their bailouts, stimuli, easing, printing, and other
clown acts in that circus? What's next? I sense the beginning of a mild
panic with recent desperate responses to the monetary insanity of the
Washington crowd. e-money is vapor money in the cloud. Who
trusts Bitcoins in some computer? US
money is not even legitimate currency under world standards as it does not
have a "promise to pay" on it. Look at any bill in your wallet. All
it says is "note". In other words, IOU.
Sometimes I marvel at the
brilliance of our Founders. They wisely installed a back door
through which a State by State solution might lie. Amid the prohibitions lies an
exception. Read with me from the United States
10 - Powers prohibited of States
No State shall enter into any
Treaty, Alliance, or
Confederation; grant Letters of
Marque and Reprisal; coin Money;
emit Bills of Credit; make any
Thing but gold and silver Coin a
Tender in Payment of Debts; pass
any Bill of Attainder, ex post
facto Law, or Law impairing the
Obligation of Contracts, or
grant any Title of Nobility.
States are prohibited from making "any Thing
but gold and silver Coin a Tender in Payment
of Debts" What amazing foresight to
leave that door open.
Perhaps it is time for each State
legislature to consider pressing small and
large weights of State coins in gold
and silver as a back-up currency system.
With only a weight stamped on it (and no
monetary value) it would not be "Money"
Any entrepreneur could probably pull it off,
but State sanctioned mints would give
the coins more validity and appeal. Weight
standards would have to be written for State
to State consistency. They would
certainly get a warm reception among most
Americans at this point in history, and the
competition could even possibly trigger a slow-down of the DC / Fed insanity.
return to monetary reality. The feel of ACTUAL
money in your pocket. Wouldn't that be a
Expect a fight.