Foundation for the Advancement of Monetary Education

The World's Only Think Tank Focused Solely On The "Money Issue"

The Most Important Worker Right: The Right to be Paid with Real Money

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube
  • HOME
    • Blog
    • Articles: Table of Contents
    • Videos: Table of Contents
    • Larry Parks
    • Edwin Vieira
    • Ferdinand Lips
    • Site Map
  • ABOUT
    • About
    • Brief Summary
    • Notable Quotes
  • START HERE
    • How Real US Money Became Bogus, aka, Fiat, Money
    • Summary of Tradeoffs Between Gold and Paper Money, Public Policy and Informational Issues
    • Six Reasons Why Promoting the Gold Standard is a Mistake
  • ISSUES
    • Labor Unions
    • Manufacturing & Trade
    • Retirement Security
    • Constitution & Legal
    • Monetary System
    • Religion Related
    • Investment Gold
    • Federal Reserve
  • PUBLICATIONS
    • Larry Parks Testifies Before the US Congress
    • What Does Mr. Greenspan Really Think?
  • MEDIA
    • Lectures
    • Interviews
    • Radio Interviews
  • CONTACT
  • SUPPORT
You are here: Home / Federal Reserve / Limiting Government: the Role of Gold

Limiting Government: the Role of Gold

June 1, 2015 by Larry Parks

Print This Post Print This Post

Government has two great powers: (1) the legal monopoly on the use of force, i.e., coercion; and, (2) the power of the purse. The legal monopoly on coercion is limited in the extreme by the 2nd Amendment to the Constitution, which gives the people the right to bear arms. The power of the purse is, in theory, limited by the “enumerated powers” in Article II Section 8 of the constitution, which legally empower the government to do those things that are permitted and that everything else is prohibited. After 1933, the Supreme Court stood this principle on its head, and now the government is believed to be empowered to do anything that is not prohibited. The Constitution provides another limitation, though: that the government may coin gold and silver, and that only gold and silver may be used to pay debts. Because almost everything that government wishes to do costs money, the structure of the Constitution requires that it tax that money (which people tend to resist), or borrow it (borrowing by government just being delayed taxation). But if the government, or in our case the banking system, can create unlimited amounts of legal tender irredeemable paper-ticket-electronic money out of nothing, then taxation is not necessary, and government can do anything it wants without consulting the people. – This lecture was prepared in October 2010.

More Information can be found from Larry Parks HR1098 Congressional Testimony 9-13-11
To get a copy of What Does Mr. Greenspan Really Think? from Amazon, click HERE


Support FAME

Follow
Facebooktwitterlinkedinrssyoutube
Share
Facebooktwitterredditpinterestlinkedinmail

Share this:

  • Post

Like this:

Like Loading...

Filed Under: Federal Reserve, Investment Gold, Monetary System, Videos

JOIN THE FIGHT FOR HONEST MONEY BUTTON 6-14-15

Meaningful Insights

“No state shall emit bills of credit, make any thing but gold and silver coin a tender in payment of debts, coin money—.”++

— Article One, Section Ten,  United States Constitution

Religious Issues

Most Christians, Jews, Catholics, and Muslims know that … Read on

Recent Posts

  • The Most Important Worker Right: The Right to be Paid with Real Money
  • When is “Free-trade” not Free-trade? When it’s done with fake, a.k.a., “fiat” money
  • Larry Parks Testifies Before the US Congress
  • What Does Mr. Greenspan Really Think?
  • Interview with Jay Taylor

Subscribe

Receive periodic updates on FAME research, events, and publications.

CONTACT

FAME
909 Third Avenue #625
New York, NY 10150
Phone: 212-818-1206

Contact Us

SOCIAL MEDIA

  • Facebook
  • Twitter
  • Linkedin
  • YouTube
  • Google+
  • Instagram

ALSO FROM FAME

  • ACLU
  • AFL-CIO
  • KC Labor
  • The Chief Leader
  • Union Democracy
  • The Work Site

· © Copyright 2015 · FAME · All Rights Reserved · Privacy · Terms ·

Foundation for the Advancement of Monetary Education is a 501(c)(3) not-for-profit organization.

Contributions are tax-deductible to the extent permitted by law.

%d