3 ms·
> Even though the constitution still describes > the value of a dollar as a specific weight of > gold, like most other things in that document > it is ign
by JakeStone 7y ago
> Even though the constitution still describes
> the value of a dollar as a specific weight of
> gold, like most other things in that document
> it is ignored.
Citation needed.
Article 1, Section 10 is the only place I can recall saying anything about gold:
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
_My_ reading opens up a door for "Texas Bucks" issued with backing/redemption of some volume of gold/silver. But I'll wait on expounding more to give you the opportunity to show me where I am mistaken.
- Spooky23 7y agoIt can. I think Utah and North Carolina allow it today. You can make a contract denominated in gold in those states, and I believe that the state won't levy capital gains taxes on Gold or Silver.