The Value of a Dollar

In 1788, the Congress of the United States was given power to coin our currency by the U.S. Constitution, specifically Article 1, Section 8:

"Congress shall have power... To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;" ~Article 1, Section 8, U.S. Constitution

"No State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts;" ~Article 1, Section 10, U.S. Constitution

The Revolutionary War's "Continental Dollar" was the paper currency invented by the states for more war funding, but became notoriously worthless, thus bringing about the above clause to the law of the land.

The Mint Act of 1792 set the value of a dollar at approximately .05 ounces of gold, or at less than an ounce of silver.

The War of Southern Independence saw the first blatant lack of Constitutionality in the U.S.'s currency with Lincoln's greenbacks, which were openly backed in no precious metal at all.

The advent of paper used as de facto currency, and the U.S. Government's legitimization thereof, literally destroyed all hope of maintaining a free and safe currency.

We no longer have legitimate dollars, and have been using Federal Reserve Notes, denominated in supposed dollars, but they are basically worthless, only holding value as long as people accept them.

We haven't had a true dollar in this country since they stopped minting gold and silver coins as legal tender, just fake Federal Reserve Notes.

Wilson, the Fed, and the End of a Free America: Part 1

Stemming originally from a commenting conversation I had with Mike Powers about the man in days long past, as well as the recent attention he has garnered in the opinionated-media like Glenn Beck, I'm going to express my opinion of Woodrow Wilson's Presidency.

Having gained praise from the Left for his economic plans and his furtherance of globalist agendas, and having gotten rebuked for his policies by the Right, I thought I'd center this post on Wilson's own words:

"A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom." ~Woodrow Wilson, 1913, quote from his book The New Freedom.

He was speaking of the newly incepted Federal Reserve, which is not only un-Constitutional, but is no more "federal" than Federal Express.

The implications of the Federal Reserve not being federal are more than might be at first thought.

Whether Congress authorizes the monetary powers of the Federal Reserve or not, the fact remains that they have no Constitutional powers to do anything, rendering them a private entity; therefore, what you call "dollar bills" (if you would pull one out and look at the top) are actually "FEDERAL RESERVE NOTES", holding no value, intrinsic or attributed, other that that of de facto imposition by the Federal Reserve.

Furthermore, as it is a private entity, the monetary power in these United States is not in the hands of elected representatives of the people, but appointed officials in the Fed's Board of Governors.

Since our monetary system is not only run but based on un-Constitutional powers, is it any wonder we're going under? What does the Constitution say about who makes the money?

"The Congress shall have power... To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;... No state shall... make anything but gold and silver coin a tender in payment of debts" ~U.S. Constitution

Now, today we have little Timmy Giethner testifying before Congress, when asked where it is in the Constitution that he and the Fed get their power, he responds that their power comes from the Congress.

News for ya, Timmy: Congress doesn't get the last say in government!

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."