Constitutional Money: Has to be redeemable in gold / silver, not backed by gold / silver?

in news •  2 years ago 


"The Founders intended that only gold and silver coins, and notes freely redeemable in and fully backed by such coins, may serve as legal tender in the United States. And they put this intention into the constitutional text. Therefore, honest money is not just a good idea, it’s the law!"
https://deanclancy.com/the-constitutions-seven-money-clauses/

"Federal Reserve notes have not been redeemable in gold since January 30, 1934, when the Congress amended Section 16 of the Federal Reserve Act"
https://www.federalreserve.gov/faqs/currency_12770.htm

"A silver certificate is a type of money that the United States issued between 1878 and 1964 as part of its paper currency circulation. Initially, people could redeem silver certificates for their face value of silver dollars."
https://www.oxfordgoldgroup.com/articles/what-is-a-silver-certificate/

"Paper that was intended to circulate as money but was not redeemable in gold and silver was technically described as bills of credit at that time."
https://tenthamendmentcenter.com/2009/01/02/the-constitution-and-paper-money/

"Only gold-backed currencies that possess a digital gold certificate can participate in transactions through the QFS. The gold certificate will have a serial number as a reference on a piece of gold held in reserve to back the currency. It is impossible for it to be stolen or taken out of the secure vaults where they are stored. This is where the term gold-backed currency comes from- it needs to reference back to a piece of gold in the vault that is backing it.

Asset-backed currencies refer to currencies that are established based on assets within the country of origin."
https://www.inbute.com/quantum-financial-system/

"New financial system will be introduced. It will be backed up with Yamashita gold."
https://goldenageofgaia.com/2012/04/29/the-new-financial-system/

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Get ready for our New and improved Physical and Electronic Coinage to be "redeemable" Face Value for Face Value with our "Corrected" Silver and Gold Coins that will Range from $1 to $100 and Weights that Range from 1/10 ounce to 1 ounce...