Monday, January 9, 2012

Is our current monetary system unconstitutional?

I asked another question earlier about "why do government CHOOSE to borrow money from private banks at interest?". I did a little research myself by reading the Constitution of the US. Nowhere does it say that a central bank has the right to create control money or credit. It only says in Section 8 that congress has the authority "To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;" "To borrow money on the credit of the United States;" "No money shall be drawn from the treasury, but in consequence of appropriations made by law; and a regular statement and account of receipts and expenditures of all public money shall be published from time to time." Section 10. No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; p any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.

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