Interesting and probably true. There were a lot of state banks and even alternative banks prior to the civil war. Corn banks, tobacco banks, even whisky banks where people deposited commodities and received payable notes in exchange. After the civil war this war debt helped facilitate centralization of backing by using the bank of New York to back stop the debt using dollars guaranteed by the government.
The stuff about alternative currencies backed by banks that issued notes is fairly common and is still in the established canon of academia:
https://youtu.be/ImtedJul6do
I'll search for the NY stuff but at a high level it has to with backpay to soldiers. Everyone knows they screwed the South. But not everyone knows that they also screwed the soldiers who fought for the North.
One good point he makes is that the Constitution is VOID FOR VAGUENESS.
A proper Constitution explicitly lays out laws and rules with no room for misinterpretation. In contractual law, a vague contract is tossed out by the court.
In criminal law, a law is void for vagueness if it does not specify what is required or what conduct is punishable.01 This is because an average citizen cannot generally determine what persons are regulated, what conduct is prohibited, or what punishment may be imposed. In American constitutional law, a statute is void for vagueness and unenforceable if it is too vague for the average citizen to understand. This is because constitutionally permissible activity may not be chilled because of a statute's vagueness, either because the statute is a penal statute with criminal or quasi-criminal civil penalties, or because the interest invaded by the vague law is sufficiently fundamental to subject the statute to strict scrutiny by a court determining its constitutionality.
The Constitution is so ambiguous and can be interpreted in too many ways and is full of Barnum statements.
Legal Tender laws are violations of the 9th and 10th amendments.
In this episode I show people that Legal Tender laws, and not, "the fed reserve" are really the key. And I prove with ChatGPT that those legal tender laws are clearly unconstitutional. If you like The Quash you should support it. That's what free markets look like. Go to patreon.com/theQuash and become a member. The Quash comes out on Sundays. AH episodes have more harsh language.
You can follow LegalMan on Twitter Legalman@UScrimeReview. You can read blog at thetruthaboutthelaw.com.
Interesting and probably true. There were a lot of state banks and even alternative banks prior to the civil war. Corn banks, tobacco banks, even whisky banks where people deposited commodities and received payable notes in exchange. After the civil war this war debt helped facilitate centralization of backing by using the bank of New York to back stop the debt using dollars guaranteed by the government.
Interesting.
If you find a good source for some of this history, please share it. Thanks.
The stuff about alternative currencies backed by banks that issued notes is fairly common and is still in the established canon of academia: https://youtu.be/ImtedJul6do
I'll search for the NY stuff but at a high level it has to with backpay to soldiers. Everyone knows they screwed the South. But not everyone knows that they also screwed the soldiers who fought for the North.
One good point he makes is that the Constitution is VOID FOR VAGUENESS.
A proper Constitution explicitly lays out laws and rules with no room for misinterpretation. In contractual law, a vague contract is tossed out by the court.
The Constitution is so ambiguous and can be interpreted in too many ways and is full of Barnum statements.
Legal Tender laws are violations of the 9th and 10th amendments.
May 28 2023 59 mins
You can follow LegalMan on Twitter Legalman@UScrimeReview. You can read blog at thetruthaboutthelaw.com.
Podcast download https://podcasts.captivate.fm/media/ef426481-7ae2-472c-b14f-a942d9fd7c5d/S4-Ep1AD-Legal-tender-chat-converted.mp3