Monday, September 29, 2008

The Constitution vs. the Federal Reserve - Vox

"Rightly understood, the Constitution authorizes -- and indeed, requires -- the government to mint silver and gold coins denominated only by weight and fineness, but denies it any power to emit paper money... It denies the government any power to enact legal-tender laws... It permits private banks to issue their own nonfraudelent monetary notes, and deal honestly in deposits denominated in silver, gold, or foreign currencies... It permits free entry into private banking, throughout the United States... It outlaws any government sponsored banking monopoly or banking cartel, such as the present-day Federal Reserve System... And it disables the government from levying discriminatory taxes on privately issued money..."

"Thus, in the most fundamental sense, the United States needs no reform law, or restoration law, to return to sound money. For the necessary law already exists, in the Constitution itself."

"So as the politicians swear to uphold the Constitution, their actions repudiate their promise"

The Constitution vs. the Federal Reserve - Vox

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