Posted on 05/16/2003 8:08:27 AM PDT by WaveThatFlag
Edited on 04/22/2004 11:48:55 PM PDT by Jim Robinson. [history]
Is that Andrew Jackson on the twenty -- or Lord Byron?
We're talking about the portrait on the Bureau of Engraving and Printing's new $20 bill. With his upswept hair and chiseled countenance, our seventh president has always been one of the more rakish portraits adorning the paper currency he so abhorred. But the "enhanced" Jackson image and the jettisoning of the splendidly antiquated oval frame lend the new Jackson a decidedly romantic aura.
(Excerpt) Read more at online.wsj.com ...
Put Ronnie on the $20 NOW.
Is this true? Source please.
Some take this to mean that the states cannot issue paper money but that the federal government can issue it and make it legal tender.
On reading the above citation of the US Constitution, do you get out of it that no one should be using gold and silver coin to pay debts? I get out of it that someone, to this day, should be using gold and silver coin to pay debts, even if I accept for sake of argument that the federal government can issue paper and make it legal tender and have some debts paid by some in its paper. Yet no one is paying debts with gold and silver coin and that's the point. No one is. And someone probably should be. Why aren't they? Because Art 1 Sec 10 Clause 1, though the law is what it is, it is being subverted. We are either obeying it or we aren't. Who gains if we did obey it? Retirees, creditors, you and your parents who try to save for old age. Who loses? Those in the business of creating credit and lending it at interest: establishment banks.
As new credit is created and spent into the economy, and prices rise, those on fixed incomes are thrown into near poverty as a lifetime of savings is lost to inflation. The Constitution meant at Art 1 Sec 10 Cl 1, to protect these same people and to put limits on those who issue paper/credit. But as this part is ignored, these people are denied this fundamental constitutional protection of their wealth, their saved purchasing power. Our debt based money system is an assault on private property.
So it is not right, but it is easier, to care about the color, or the plastic strip or how A.J. looks, or how it reminds you of the Euro and all that superficial stuff. Worry about that and don't worry what the purchasing power of that same piece of paper will be in 20 years. And don't worry that the retirees will be more dependent on socialism and "entitlements" because of their government-produced poverty. And don't worry about how the government does not respect the fundamental law of the land.
These silly changes to the paper facade of the variable unit of debt that the dollar is, is of little consequence as the purchasing power of the savers wealth is inflated into oblivion.
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