Currency is a medium of exchange for goods and services. It is a store of value. The problem is that over the course of human history, that concept has come under the control of governments which have come under the control of international private banks. He who controls the production and regulation of money, holds all power. Threats to centralized government control over mediums, are threats to the international banking cabal. This is why crypto scares the shit out of those holding onto control.
Article 1, Section 10 of the US Constitution prohibits states from being allowed to "coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts." Why? Because in Section 8 of the same article, the states vested the power "To borrow Money on the credit of the United States [...] To coin Money, regulate the Value thereof, and of foreign Coin" in Congress.
There are two interesting, critical points absent here. First, the Constitution does not bind Congress to keep any certain form of currency (metal coins, paper notes, digital accounting notes) or base on any particular standard (gold, silver, Bitcoin). Secondly, note that nothing is said about businesses and individuals creating their own forms of exchangeable currency. Congress has no more authority, under the Constitution, to ban cryptocurrency than it does to ban prepaid debit cards or paper gift certificates used by mom & pop businesses. In other words, the FED and IRS can fuck off if that's what the people want. If enough people decide to start using digital wampum as our trusted system of currency, there's nothing the government can do about it.
Edit: want to get rid of the FED? Amend the Constitution to eliminate the power of Congress to "borrow money on the credit of the United States." 🤔😉
Currency is a medium of exchange for goods and services. It is a store of value. The problem is that over the course of money human history, that concept has come under the control of governments which have come under the control of international private banks. He who controls the production and regulation of money, holds all power. Threats to centralized government control over mediums, are threats to the international banking cabal. This is why crypto scares the shit out of those holding onto control.
Article 1, Section 10 of the US Constitution prohibits states from being allowed to "coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts." Why? Because in Section 8 of the same article, the states vested the power "To borrow Money on the credit of the United States [...] To coin Money, regulate the Value thereof, and of foreign Coin" in Congress.
There are two interesting, critical points absent here. First, the Constitution does not bind Congress to keep any certain form of currency (metal coins, paper notes, digital accounting notes) or base on any particular standard (gold, silver, Bitcoin). Secondly, note that nothing is said about businesses and individuals creating their own forms of exchangeable currency. Congress has no more authority, under the Constitution, to ban cryptocurrency than it does to ban prepaid debit cards or paper gift certificates used by mom & pop businesses. In other words, the FED and IRS can fuck off if that's what the people want. If enough people decide to start using digital wampum as our trusted system of currency, there's nothing the government can do about it.
Edit: want to get rid of the FED? Amend the Constitution to eliminate the power of Congress to "borrow money on the credit of the United States." 🤔😉
Currency is a medium of exchange for goods and services. It is a store of value. The problem is that over the course of money human history, that concept has come under the control of governments which have come under the control of international private banks. He who controls the production and regulation of money, holds all power. Threats to centralized government control over mediums, are threats to the international banking cabal. This is why crypto scares the shit out of those holding onto control.
Article 1, Section 10 of the US Constitution prohibits states from being allowed to "coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts." Why? Because in Section 8 of the same article, the states vested the power "To borrow Money on the credit of the United States [...] To coin Money, regulate the Value thereof, and of foreign Coin" in Congress.
There are two interesting, critical points absent here. First, the Constitution does not bind Congress to keep any certain form of currency (metal coins, paper notes, digital accounting notes) or base on any particular standard (gold, silver, Bitcoin). Secondly, note that nothing is said about businesses and individuals creating their own forms of exchangeable currency. Congress has no more authority, under the Constitution, to ban cryptocurrency than it does to ban prepaid debit cards or paper gift certificates used by mom & pop businesses. In other words, the FED and IRS can fuck off if that's what the people want. If enough people decide to start using digital wampum as our trusted system of currency, there's nothing the government can do about it.