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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

4:00 PM EST

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To: Real Man who wrote (115903)	1/8/2024 1:27:40 PM
From: Sun Tzu	Read Replies (1) of 116791

The constitution recognizes the state's right to use gold and silver as money. It only bars them from issuing anything else as money. So the limitation on the state's issuance of money is not absolute. You may want to reread your quoted article with this perspective in mind. A stable coin does not have to be tied to USD. The definition of a stable coin is a crypto currency that is backed by something else. As a result, the coin itself is "stable" in the sense that its intrinsic value never changes (it's zero) - the value comes from the underlying. So ask yourself, IF a state recognizes gold as money, then what is the designation of a stable coin that represents gold? The simple answer is that it is a legal currency because there is a 1-1 exchange for gold. In effect, a gold backed stable coin will be no different than a bank draft. This set up changes the entire legal picture.

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