Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?

To: Solon who wrote (49024)	6/22/2006 12:06:13 PM
From: TimF	Respond to of 90947

"The constitution doesn't forbid any money other than gold or silver" But it forbids it as legal tender for any State because it desires a commonality of monetary policy based on enduring value as was the Federal policy. It forbids states to make money, they can't coin money, emit bills of credit, or make anything but gold and silver coin a tender in payment of debts. But the federal government has made something other than gold and silver coin for use in payment of debts and the states can use the money that the federal government has created. They just can't create their own money or create anything for tender for debts. If the labor is a value then it ought to trade (through the medium of money) on a proportionate value basis to other products and labors. What do you mean by this? Labor is frequently traded for money and that money is traded for products or other labors. What would be considered proportionate value in any of these trades is highly subjective. In fact typically a trade happens because the value of the good or service received in the trade is higher to the receiver than the value of what they traded away. The gasoline I received today is more valuable to me than the $50 I spent for it, and the $50 is more valuable to the gas station than the gasoline it gave me.