>>8254532
Nice.
The only constitutional money is gold and silver.
Quotes below from
https://deanclancy.com/the-constitutions-seven-money-clauses/
The Seven Money Clauses
“Congress shall have Power … To borrow Money on the credit of the United States[.]” Art. I, sec. 8, cl. 2.
“Congress shall have Power … To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures[.]” Art. I, sec. 8, cl. 5.
“Congress shall have Power … To provide for the Punishment of counterfeiting the Securities and current Coin of the United States[.]” Art. I, sec. 8, cl. 6.
“No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law[.]” Art. I, sec. 9, cl. 7.
“The Migration or Importation of such Persons as any of the States now existing shall think proper to admit, shall not be prohibited by the Congress prior to the Year one thousand eight hundred and eight, but a tax or duty may be imposed on such Importation, not exceeding ten dollars for each Person.” Art. I, sec. 9, cl. 1.
“No State shall … coin money; emit bills of credit; [or] make any Thing but gold and silver coin a Tender in Payment of Debts[.]” Art. I, sec. 10, cl. 1.
“In Suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved[.]” Amdt. VII.
The Constitution’s Five Monetary Rules
Read in conjunction with the Ninth and Tenth Amendments, and the obligation-of-contracts clause (Art. I, sec. 10, cl. 1), we can identify five monetary policies that are constitutionally requisite in the United States:
The basic unit is the dollar, a silver coin containing 371.25 grains of pure silver.
Only gold or silver coins and currency (specie-backed banknotes) can be legal tender.
No state may issue coins or currency.
No one may counterfeit U.S. Government-issued coins or currency.
Fiat money is forbidden.
The remainder of this article defines some of the foregoing terms, and explains how we get to these five rules.
Definition: ‘Dollar’
The Constitution makes the ‘dollar’ the basic unit of account for the republic. It does not explicitly define the dollar. Why? Because everyone at the time knew exactly what a dollar was. It was a silver coin of a fixed weight and fineness, the most popular edition of which was the Spanish milled dollar. That popular coin, remembered today as ‘pieces of eight,’ contained on average 371.25 grains of pure silver or 416 grains of standard silver. ‘Standard silver’ is pure silver mixed with other metals, such as nickel or copper, for added durability. /5
Prior to the Coinage Act of 1792, ‘pieces of eight’ was basically the only ‘dollar’ Americans knew or used. The U.S. government did not mint its own version of the dollar coin until after the ratification of the Constitution (1788) and the Bill of Rights (1791).
In the Coinage Act of 1792, sometimes also called the Mint Act (because it established the first United States Mint to coin the first United States dollars), Congress duly codified the existing, universally understood definition of ‘dollar, as follows:
DOLLARS OR UNITS — each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver.
That is what a ‘dollar’ is, for constitutional purposes.
The value of the dollar is fixed, because it is a known quantity incorporated by reference into the constitutional text. Congress has no power to alter the value of the dollar. Only a constitutional amendment could do that.