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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.08

0.0%

Feb 2 4:00 PM EST

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To: Chispas who wrote (96807)	1/2/2004 6:21:46 PM
From: Chispas	Read Replies (1) of 116958

...the present monetary provisions of the United States Code demonstrate that official Washington, D.C., has no conception of what a "dollar" really is. The reason for this self-imposed ignorance is obvious. By reducing the "dollar" to a political abstraction, the national government has empowered itself to engage in limitless debasement (depreciation in purchasing power) of the currency. A "dollar" that contains - and must perforce of the Constitution contain - 371.25 grains of fine silver cannot be reduced in value below the market exchange value of silver for other commodities. A pseudo-"dollar" that contains no fixed amount of any particular substance per "dollar" can be reduced in value infinitely. As debasement of currency amounts to a hidden tax, Congress' silent refusal to recognize the constitutional "dollar" amounts to the usurpation of an unlimited power to tax through manipulation of the monetary system. Thus, modern "money" has become a means for the total confiscation of private property by the government. Alexander Hamilton, 1792

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