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Gold/Mining/Energy : Royal Oak-RYO -- Ignore unavailable to you. Want to Upgrade?

To: Michael Bidder who wrote (1382)	9/24/1998 3:17:00 PM
From: MikeyB	Read Replies (2) \| Respond to of 1706

Well, that "report", if you wanna call it that, is useless blather. It makes many false claims. For example, all that blather about US Currency is wrong. They claim: "'Lawful money' is still defined by the Constitution as so many grains of gold or silver. A constitutional amendment is required to change the legal definition of the dollar." This is totally false. The US COnstitution has two things to say about coining money. Article I, Section 8: To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; and Article I, Section 10: No State shall ... coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts... Article I of the US Constitution describes the powers of Congress. Nowhere does it state that legal money is gold or silver(just that states must pay their debts in gold or silver). Obviously congress has the powers to make whatever they want to be money and give it any value that they choose and set an exchange rate for foreign currency. At one point in time, gold and silver were legal money. A simple act of congress could make legal money be just a piece of paper (as it is now). No constitutional amendment is necessary. Further investigation would show that all (or at least most) of their other points are equally false. MikeyB