Wednesday, October 22, 2008

Crumpled Currency

"No State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts; ..."
~U.S. Constitution

Somewhere along the line, somebody decided that the Government doesn't really need to obey laws.

The first act of deliberate disregard for this particular law was in 1862. (<---Interesting.) It was called a "Legal Tender Note".

There were also gold and silver certificates throughout this whole sordid ordeal, and these were redeemable in actual money.

But, we now know the dollar as a crumpled up piece of greenish-white paper that is redeemable in... nothing.


"Gee, I wonder why our economy is going under."
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2 comments:

Benjamin9 said...

Hey, who needs gold and silver when you have paper?

At least when the cash is worthless in trading for food, we will be able to burn it to keep warm.

Hang on Son3 ... we live in very interesting times.

October 26, 2008 5:42 AM
Unknown said...

Can we say "Weimar Republic"?

Thanks for the comment!

October 26, 2008 10:42 AM

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