When dollars represented gold

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	When dollars represented gold

drmattbarney

1-5-2008 5:41 PM

133 views

drmattbarney says:

Gosh - I wish I could get gold for my paper money that is backed by....er..nothing

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/c9058f0a-7505-4401-8f28-2cc364b0a6ea/25CF9830-1F34-486B-BFE6-DACF8739A27C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.marketoracle.co.uk/Article1131.html" href="http://www.marketoracle.co.uk/Article1131.html" style="font-size: 11px;">www.marketoracle.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketoracle.co.uk/Article1131.html"><P>In the late-1920's, higher denominations were gold certificates. The bearer could redeem his/her certificate for gold. Under the same Section 9 of the 1792 <A target="_blank" href="http://landru.i-link-2.net/monques/coinageact.html">Coinage Act </A>, a dollar was equivalent to 24.75 grains of pure gold. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketoracle.co.uk/Article1131.html"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/www.marketoracle.co.uk/img/C8A89145-3491-4F83-BC0B-5206765FA8A1" alt="US$20 Gold Certificate" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketoracle.co.uk/Article1131.html"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.marketoracle.co.uk/img/500D9D4C-5BB1-4B07-8D22-9C3656A3EEFC" alt="US$50 Gold Certificate" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketoracle.co.uk/Article1131.html"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/www.marketoracle.co.uk/img/28A55CDD-3452-4C1E-9670-037B53E7C63B" alt="US$100 Gold Certificate" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketoracle.co.uk/Article1131.html"><P>There is some question as to the constitutional legality of Federal Reserve Notes we use today. According to <A target="_blank" href="http://www.law.cornell.edu/constitution/constitution.articlei.html#section10">Article 1, Section 10 of the U.S. Constitution </A>, “No state shall … make anything but gold and silver coin a tender in payment of debts.”  </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/25CF9830-1F34-486B-BFE6-DACF8739A27C/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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