That was Federal Reserve Chairman Jerome Powell in March 2021, noting the fact that when it comes a central bank digital currency – a more distinct possibility after several bank failures have swept across the global financial system – that Congress simply has not authorized such an undertaking.
Friday, March 31, 2023
Subscribe to:
Post Comments (Atom)
Not than anyone bothers to read it anymore, but the U.S. Constitution states in Article 1, Section 10, Clause 1: "No State shall ... make any Thing but gold and silver Coin a Tender in Payment of Debts...."
ReplyDeleteAnd Article I Section 8 gives Congress the exclusive power to coin money.
DeleteFine, but eventually when the global elite world government finally destroys the U.S. dollar as the major world's reserve currency the constitution will become irrelevant and all bets are off
DeleteAnonymous is seeing things that aren't there - such as the word exclusive. Congress was given the power to coin money (not print it) and regulate the value of that money. There is nothing in the wording that supports the interpretation that the grant of such power also denies it to anyone else.
DeleteAnother Heglian Dialectic 'crisis' coming at you like a runaway locomotive.
ReplyDeleteThis Pirate Administration has never let the law...or lack of one...ever prevent them from doing whatever the hell they want. They aren't going to start with this subject. They do what they want, with impunity.
ReplyDelete