January 27, 2012 § Leave a comment

Exposing Faux Capitalism

Both Congress’ enumerated power to coin money (from any metal), and the power of the States to only make gold and silver legal tender, were powers that didn’t necessarily have to be exercised.

A power is something you can exercise, or not exercise. This is clearly evidenced by Congress’ other enumerated powers, such as the power to declare war, or to borrow money on the credit of the United States.

There was an insidious nature to the Coinage Act of 1792, in that it forced American taxpayers to pay for the cost of minting the gold and silver brought to be minted (see Section 14 on page 249), which was overwhelmingly owned by wealthy interests.

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