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The Floating Dollar as a Threat to Property Rights

Seth Lipsky, the founding editor of the New York Sun, and who has often spoken favorably of Ron Paul's monetary views, advocates, in a speech at a Hillsdale College Seminar, for repeal of the Legal Tender Laws and a return to Constitutional money. He notes several interesting strategies now being followed by Judges and the States to achieve these goals.

Read the speech here: http://www.hillsdale.edu/news/imprimis/archive/issue.asp?yea...

This speech was published in Imprimis, which has a readership of almost 2 million and is heavily promoted by Mark Levin (love him or hate him) almost daily on his radio show.



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He Makes Some Good Points !

Throughout the history of the USA the dollar has changed its name{s}.
Silver dollar.
Silver certificate dollar.
Paper dollar backed by Gold.
Greenback dollar.
Confederate dollar.
Floating dollar.
And others.

Here is a suggestion that would be Constitutional. { Use only Gold/Silver clause}

Why not start pricing products and services in increments by weights of Gold/Silver. I have a scale that weighs to the hundredths of an ounce, or flip a switch, and it weighs in grams and hundredths of a gram.

I don't think it would be to hard to program commercial check out cash registers to price things in amounts of Gold/Silver...
..And with programed I-Phones it is now possible to transfer amounts of Gold/Silver from one party to another and back, if need be using secure pass words.

I personally think Ron Paul would back this plan as a competing monetary system.

End the Fed and implement a new monetary system based on Silver/Gold !

beesting

Today's dollar is the real floater

if you're looking into the punchbowl

=======
RON PAUL 2012

Your search is: "Floater Cash." Did you mean: Sinker?

Research on "Floater Cash" is sparse. Perhaps study of "sinker" is in order. Cash paper-promissory notes are sinking. Too much liquidity. All nations are having problems with paper-promissory notes.

Even Gold & Silver quotes bannered about are typically based on options & futures... promises.

See coin shops for the value they offer on hand.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

True value of PMs

Value of Gold & Silver items @ auction in dollars.

True is a stretch. A truer exchange would be gold priced in silver. Bother buyer & seller exchange like value. Eliminate the paper-dollars.

eBay seems to be far more reasonable. Purchases are physically delivered.

Exchanges seem willing with no overlord.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Surprisingly good article

I am often disappointed by the quality of material published in Imprimus. It tends heavily toward the neo-con side. This one, however, was very good.

Today I received from Hillsdale College an audio disk of a talk given by Charles Murray entitled "Losing Ground: Update on the War on Poverty."

What's going on here? Has my alma mater gone libertarian? (We can only hope!)

Imprimus

Imprimus and Hillsdale sometimes stray toward neo-con positions, but like you, I am encouraged by their printing of this article. Hillsdale is one of the few schools that refuses all Federal money, and they have a long history of promoting Austrian Economics. Here is an "eHow" article listing Hillsdale as one of five schools that teach Austrian Econ: http://www.ehow.com/info_7906239_colleges-teach-austrian-eco...

I have been donating to Hilldale for the past decade, and am encouraging my son to attend, if accepted.

I enjoyed my years at Hillsdale more than at Unv. of Mich

Hillsdale, unlike U of M, presents a mostly consistent world view. Moving from History to Econ to English to Philosophy, one class tended to reinforce the others. At U of M, the presentation was a soup of contradictory interpretations and proclamations.

There is an upside and a downside to the Hillsdale approach. The upside is the solid traditional liberal arts viewed through the prism of a conservative world view. The downside is that lack of exposure to the messiness of real world debates, the students are sometimes dumbstruck when they come into contact with a real live leftist. Much of what they taught reinforced libertarian ideas, though generally the atmosphere was not pro-libertarian.

UofM, on the other hand, had so many perspectives going at one time that it wasn't enlightening as much as confusing. The good thing is the exposure to so many different thoughts. The bad thing is so many of the thoughts were just plain wrong (keynesian, socialist, liberal, neo-con).

Things have changed

I think you went to school there in 1984... while I agree with you about UofM, Hillsdale has changed. Here is one example:

http://www.hillsdalecollegian.com/2.11621/off-campus-house-d...

A prank? No, the college sanitized this story after it hit the national press. What they left out was that this was the office/home of the schools newspaper editor, and the prank, which has overtones of death threats in it, was done in reprisal for an editorial critical of Hillsdale's baseball team.

A picture that was with the article, showing deer intestines strung up like garland, was deleted, along with all the comments to the story. The baseball team, who admitted doing it, only had to apologize. On the other hand, the editor was crucified in the paper, saying he deserved it for writing an editorial critical of a sports team.

One of the most ridiculous quotes in the story:

"Senior Jesse Smith, co-captain of the team, said the players who pulled the prank absolutely did not shoot the goat.
"It was just on the side of the road by the fairgrounds," he said, a story confirmed by Special Assistant to the President Mike Harner, who said he drove by a goat carcass near the fairgrounds a couple days prior.

This, after a farmer came forward saying a goat was missing. And we are to believe, that a college administrator saw a dead goat by the side of the road, that happened to have gun shot wounds? Sorry, it just doesn't happen.

Sorry to vent/go off topic, but the words of this college do not match it's actions, both in ethics and principle.

P.S. Some of the press outside of the College grabbed the picture the student newspaper took and quoted the original story, before the college sanitized it. Here it is:
http://www.boston.com/bostonglobe/ideas/brainiac/2009/04/an_...

and the floating...

hands of local municipalities who take the money out of one's wallet to pay for the wasteful spending through taxes.

donvino

There is no such thing as a floating dollar.

A dollar is not an abstract unit.

It is a standard of weight and measure of silver.

Specifically, it is a coin containing 371.25 grains of .999 pure silver.

Thus, it cannot float.

Please stop referring to Federal Reserve Notes (aka Toilette Paper) as Dollars.

No matter how pretty they are or how many times the word "dollar" is printed on them, or how many times people call them "dollars" they do not magically transform into something they are not - dollars.

Otherwise, it was a good article.

DOLLAR

The correct term for fed notes is DOLLAR not Dollar. The fed note is a fiction thus it is spelled in all caps just like corporation names which are also fictions. If you look at the debased coins you will see that In God We Trust was also Changed to IN GOD WE TRUST when the metal contents were debased. Get some pre 1921 (IMF takeover) coins to see the difference. So yes fed notes are DOLLARS but not Dollars.

The Oracle

Bogus. Coins were in all caps long before that.

The caps have nothing to do with it.

Same for the notes.

FRNs are not "dollars" or "Dollars" or "DOLLARS" they are "Federal Reserve Notes." Period.

How Many Old Coins Do You See Every Day?

Yes there is a difference between the fictions and the real Dollar. Here is an example, sorry you were never taught this in the Public School for slaves.
ford...... noun a place you cross the river.
Ford....proper noun a name of a place or a man's name perhaps
FORD ....a fiction such as FORD MOTOR CORPORATION
John Henry Doe...a person, still not a man
JOHN H. DOE... Acorporation or trust

Welcome to the real world.

The Oracle

However

Congress has also redefined what the dollar is many times. Naturally they do not have the constitutional power but they have done it none the less.

Many acts have been passed affecting the amount and type of metal in the US coins, so today there is no real legal definition of the "dollar" in US statute.

Commerce with all nations, alliance with none, should be our motto. - T. Jefferson rЭVO˩ution

"Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” - BASTIAT

Yes there is.

The US Government currently values its silver stocks in the US Code, (hence by law) at $1.2929 per ounce. This is the same standard and definition, albeit worded backwards, that has existed since 1789.

The content of the dollar has NEVER changed.

The content of fractional coins has, as has the content of the copper cents.

Gold coins have also fluctuated in content vs. their face value.

The last dollar coins minted, still have the same amount of pure silver as specified in the Coinage Act of 1789. That standard NEVER changed.