The Floating Dollar

[shinnosuke]

To understand why AG & Au must be given as much priority as possible...

I like this guy's reasoning.

The Floating Dollar as a Threat to Property Rights

Seth Lipsky, Founding Editor, New York Sun

The question I invite you to consider for a moment is what would happen if we just let the kilogram float? This is a question that was posed in an editorial last week in the New York Sun. After all, the editorial said, we let the dollar float. The creation of dollars, and the status of the dollar as legal tender, is a matter of fiat. Its value is adjusted by the mandarins at the Federal Reserve, depending on variables they only sometimes share with the rest of the world. This would have floored the Framers of our Constitution, who granted Congress the power to coin money and regulate its value in the same sentence in which they gave it the power to fix the standard of weights and measures—like, say, the aforementioned kilogram.

Read the whole article here:
http://www.hillsdale.edu/news/imprimis/archive/issue.asp?year=2011&month=02

[neilgin1]

forgive me for being flippant, but when you mentioned "floating dollar", i was thinking of paper fiat floating in a toilet bowl after having been used as a wipe..

i'm sorry, it was a reflexive thought.

[aristobolus]

Proverbs 31:1 A false balance is an abomination to the LORD,
But a just weight is His delight.

[shinnosuke]

forgive me for being flippant, but when you mentioned "floating dollar", i was thinking of paper fiat floating in a toilet bowl after having been used as a wipe..

i'm sorry, it was a reflexive thought.

No need to apologize. That's exactly what I think the ultimate fate of our FRNs will be.

[shinnosuke]

Proverbs 31:1 A false balance is an abomination to the LORD,
But a just weight is His delight.

Thanks for that reference. And I can find silver and gold mentioned in the Bible but have yet to locate any verses extolling the use of fiat money.

[psi]

I guess you could argue that the current monetary system is based around usury, a concept that doesn't seem to get a lot of attention these days.

[Mossy]

i'm sorry, it was a reflexive thought.

Great minds think alike.

[Verbane]

I got this article in Imprimis , a monthly news letter from Hilllsdale College. Rush Limbaugh pushes this one. Its free, you'll receive a couple donation requests by mail but otherwise a great and relevant read every month. You can get it here: https://www.hillsdale.edu/news/imprimis/subs_new.asp

Hillsdale is a private conservative thinking college that accepts NO Fed funding.

[shinnosuke]

I got this article in Imprimis , a monthly news letter from Hilllsdale College. Rush Limbaugh pushes this one. Its free, you'll receive a couple donation requests by mail but otherwise a great and relevant read every month. You can get it here: https://www.hillsdale.edu/news/imprimis/subs_new.asp

Hillsdale is a private conservative thinking college that accepts NO Fed funding.

I originally received the full article in an email from my Dad, a guy so strong on the Constitution he makes Limbaugh look like a flaming liberal. So I went looking for the source and found it at Hillsdale (as evidenced by the link address) among other places.

We need more colleges like Hillsdale.

[Tommybee]

I graduated from Hillsdale in 1991. I am very fortunate to have been given the opportunity to obtain my undergraduate degree from such a fine institution. I received a classic liberal education at Hillsdale. My friends who went to state schools got an indoctrination in the politics of the hard left: multiculturalism, moral relativism and the nihilism that inevitably follows.

As I'm sure there are many advocates of the Austrian school on this site, I would also note that HIllsdale is the home of the Ludwig Von Mises Library.