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If I am not mistaken, the right to print and regulate money is explicitly written in the constitution. I did some Googling, and it is in Article 1 Section 8. >
by wallace_f 9y ago
If I am not mistaken, the right to print and regulate money is explicitly written in the constitution. I did some Googling, and it is in Article 1 Section 8.
>"The Constitution contains only two sections dealing with monetary issues. Section 8 permits Congress to coin money and to regulate its value.
www.let.rug.nl/usa/essays/general/a-brief-history-of-central-banking/money-and-the-constitution.php
- WalterBright 9y agoCoin money and regulate its value, yes. Print money, no. The distinction is crucial, and the choice of words deliberate. There's a reason why the Fed is a pseudo-private institution, not just another government agency.
- wallace_f 9y agoI disagree. "Regulate it's value," is unambiguous in meaning.
- WalterBright 9y agoIf you're right, why didn't the government print currency for 120 years, and why did they set up a pseudo-private organization to do it?
- wallace_f 9y agoOh come on. We are calling in to question the existence of every single constitutional injustice in the last 120 years here.