J. Galt,  Alternate Universe  -  May Day, 2014


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 Constitution: 

Article I,  Section 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.

The 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. 

A return to monetary reality. The feel of ACTUAL money in your pocket. Wouldn't that be a comfort?

Expect a fight.   


  2012  art by W.W.Winkie  All rights reserved  First posting May 1, 2014