Is U.S. income tax invalid?

parados: You have tried to explain that the Government can print as much money as it wants and it won't cost anything. That is bunk. You think the government can print money without borrowing and there will be no inflationary pressures. Money is money whether there is a central bank or not. Printing money without borrowing causes inflation because increasing the money supply devalues the monetary unit unless that monetary unit is supported by borrowing.

Spot on! Except, we're already at that stage of over-supply of US currency floating on this planet. Just imagine one scenario: our government has lost control of billions of US currency in Iraq. Nobody seems to care.

Since you think a $1,000 Treas bond is not close to the same value as a $1,000 in Fed Res Note perhaps you can enlighten us all as to the value of each.

The Constitution is supposed to be interpreted under the doctrine known as "original intent." Original intent means how the document would have been interpreted in the year it was written by any common citizen with average intelligence. During the time of the writing of the Constitution "money" was made from gold or silver and stamped into "coins."

Tryagain wrote:

The Constitution is supposed to be interpreted under the doctrine known as "original intent." Original intent means how the document would have been interpreted in the year it was written by any common citizen with average intelligence. During the time of the writing of the Constitution "money" was made from gold or silver and stamped into "coins."

I guess someone should tell the collectors of Continental currency
that Tryagain thinks they don't really exist.

parados wrote:

Tryagain wrote:

The Constitution is supposed to be interpreted under the doctrine known as "original intent." Original intent means how the document would have been interpreted in the year it was written by any common citizen with average intelligence. During the time of the writing of the Constitution "money" was made from gold or silver and stamped into "coins."

I guess someone should tell the collectors of Continental currency
that Tryagain thinks they don't really exist.

Hah, even when it comes to the 18th century you still dont understand money.

In 1776, the Continental Congress authorized plans to produce a silver coin to prop up the rapidly failing Continental--the first attempt by the fledgling US at paper currency. Several examples were struck in brass, pewter, and silver, but a circulating coin was not produced, due in large part to the financial difficulties of running the Revolutionary War.

The Continental Dollar bears a date of 1776, and while it's true denomination is not known, it is generally the size of later dollars, and the name has stuck. The failure of the Continental exacerbated a distrust of paper money amongst both politicians and the populace at large.

The letters of Thomas Jefferson indicate that he wished the United States to eschew paper money and instead mint coins of similar perceived value and worth to those foreign coins circulating at the time.


BTW What's the value of a One Ounce Silver Eagle dollar?


About $20!!!!!Now which would you rather have?

Jefferson was right.

So Richard.. when are you going to tell me what a T-bond is worth compared to Federal Reserve Notes.

I get the impression you don't want to tell us because it would make you look like a fool.

The 1895 Morgan Dollar: The 1895 Morgan Dollar is known as the "King of the Morgan Dollars" because it is the rarest and most valuable of the entire Morgan Dollar series. MS-68 specimens of this rare coin have sold for upwards of $120,000 at auction.

Tryagain, Nice try, but the currency established as the US dollar has value as long as people gives it value. No printed or coined currency on this planet is "supported" by gold - except gold and silver coins. We don't use those gold and silver coins, because they are given "value" by the people who own and/or sell them - usually investors or coin collectors..

Nobody gets paid in gold or silver; it's backed only by the notes issued by the Federal Reserve; it's still used as "legal tender for all debts, public and private."

As for your point about inflation, I agree; there are more dollars floating around the world than there will ever be gold, silver or products and services during our lifetime in support of it. Essentially, we are all playing with monopoly money, but as long as it works, we'll continue to give it value.

Richard Saunders wrote:

parados wrote:

Tryagain wrote:

The Constitution is supposed to be interpreted under the doctrine known as "original intent." Original intent means how the document would have been interpreted in the year it was written by any common citizen with average intelligence. During the time of the writing of the Constitution "money" was made from gold or silver and stamped into "coins."

I guess someone should tell the collectors of Continental currency
that Tryagain thinks they don't really exist.

Hah, even when it comes to the 18th century you still dont understand money.

The last time I checked printed paper was not gold or silver stamped into a coin. If you have different information, please tell us which precious metal paper is.