Bill O'Reilly Practically calls Ron Paul a loon? Who is Bill kidding?

reply to post by MysticPearl


My favorite part is when Bill cuts RP off saying we don't need a history lesson, when clearly we and he do indeed need a history lesson. Otherwise, we continue to hate Iran for false reasons. We saw this in the recent Iowa debate



Here's good video of the history of US invention with Iran during the 1950s to present day.

Originally posted by drew1749
reply to post by Old77

 

Speaking of the fed. I just learned something. Apparently it is privately owned. WTF why did I never know this? I thought our government owned it. Kinda scary. No really scary.

Most people are not aware of this point. That is one of the main things RP is talking about.

BTW, when does the FED charter expire? Find that out...

reply to post by Mcupobob

The Constitution forbids the federal government from making decisions regarding legal tender completely, since it is not authorized to do so.

But... IT IS AUTHORIZED!

Article 8.5 of the US Constitution authorizes the US Congress:
"To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures"

It seems that the argument you found in the Daily Paul isn't so good after all!

See ya,
Milt

reply to post by BenReclused


"So, how does the Congress "coin" Money in the form of "Federal Reserve Notes"? How does the Federal Reserve System fit within this framework? Only the Congress has the power to "coin Money" and "regulate the Value thereof."

Isn't there just one way to "coin" Money? --that is by making coins?

So, to turn to Article I, Section 10:

No State shall...coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts

Since fiat currency (i.e. "Bills of Credit") is not defined as Money to the Constitution, this line implies that the Congress shall not emit Bills of Credit, as well as the States, since the Power to "coin Money" and "regulate the Value thereof" was explicitly addressed in Article I, Section 8. For a similar reason "gold and silver Coin" are the only lawful "Tender in Payment of Debts" --this is a direct inference that Congress shall make only gold and silver Coin, since Congress has the power to coin Money and indeed Money is "Tender in Payment of Debts."'

So, coin money doesn't = paper money.

reply to post by Mcupobob

We are off topic, but I shall indulge...

So, how does the Congress "coin" Money in the form of "Federal Reserve Notes"? How does the Federal Reserve System fit within this framework? Only the Congress has the power to "coin Money" and "regulate the Value thereof."

"To coin money" is not what Dr. Pauls argument is about. I'm sure that even he accepts that term to mean: "To produce money". His problem with the dollar is the way it is VALUED, not the method of production, or even the end product.

As you admit above, only the US Congress has the authority to regulate the value of ANY MONEY issued by the United States government. It wouldn't matter if we used dimes, dollar bills, or peanuts!

So currently in the US:
Money = Both Paper Money and Coins

The Federal Reserve System does not regulate the value of money!

So, to turn to Article I, Section 10:
No State shall...coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts

Since fiat currency (i.e. "Bills of Credit") is not defined as Money to the Constitution, this line implies that the Congress shall not emit Bills of Credit, as well as the States, since the Power to "coin Money" and "regulate the Value thereof" was explicitly addressed in Article I, Section 8. For a similar reason "gold and silver Coin" are the only lawful "Tender in Payment of Debts" --this is a direct inference that Congress shall make only gold and silver Coin, since Congress has the power to coin Money and indeed Money is "Tender in Payment of Debts."

Section 10 defines prohibitions of the States, not the US Congress.
The only time money is "defined" by the US Constitution is in it's application to the individual States! To argue that Section 10 applies to the US Congress is nonsense!

See ya,
Milt