Is Ron Paul Wrong On Money (‘Only Gold And Silver Shall Be Legal Tender’) And The Constitution? (Video)

U.S. Constitution – Article 1 Section 10:

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

No State shall, without the Consent of the Congress, lay any Imposts or Duties on Imports or Exports, except what may be absolutely necessary for executing it’s inspection Laws: and the net Produce of all Duties and Imposts, laid by any State on Imports or Exports, shall be for the Use of the Treasury of the United States; and all such Laws shall be subject to the Revision and Controul of the Congress.

No State shall, without the Consent of Congress, lay any duty of Tonnage, keep Troops, or Ships of War in time of Peace, enter into any Agreement or Compact with another State, or with a foreign Power, or engage in War, unless actually invaded, or in such imminent Danger as will not admit of delay.



YouTube Added. 21.09.2011

Tom Woods defends Ron Paul against critics who say he has misread the Constitution in holding that the federal government may make nothing other than gold and silver legal tender.

Thomas Jefferson knew exactly what could eventually destroy the US…

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks (Federal Reserve) to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
– Thomas Jefferson

I wish it were possible to obtain a single amendment to our Constitution — taking from the federal government their power of borrowing.
– Thomas Jefferson

I place the economy among the first and most important virtues, and public debt as the greatest of dangers.
– Thomas Jefferson

… and so does Ron Paul:

When a country embarks on deficit financing (Bush-Obamanomics) and inflationism (Quantitative easing) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.
– Ron Paul

Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.
– Ron Paul

Why is gold (and silver) important?

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation (Quantitative easing). … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending (Bush-Obamanomics) is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
– Alan Greenspan

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