Why Is Paper Money Constitutional?
The official money of the United States today is paper currency. But that’s clearly not what the Constitution says. It says that gold and silver coins shall be the nation’s currency. How is that possible? I thought the Constitution was supposed to be the highest law...
The Fed’s War on Savings
During a March 17 address to the nation in response to the COVID-19 outbreak, President Donald Trump asked that Americans work from home, postpone unnecessary travel, and limit social gatherings to no more than 10 people. Ten days later, Trump signed a stimulus...
New evidence on the constitutionality of paper money
For 150 years, many constitutional commentators argued that by the document’s original meaning, Congress had no authority to issue paper money. Libertarians therefore argued that paper currency was unconstitutional. Liberals often agreed that the original meaning...