{"id":56553,"date":"2021-01-30T07:59:44","date_gmt":"2021-01-30T12:59:44","guid":{"rendered":"https:\/\/olduvai.ca\/?p=56553"},"modified":"2021-01-30T07:59:44","modified_gmt":"2021-01-30T12:59:44","slug":"canada-the-canceling-of-its-currency","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=56553","title":{"rendered":"Canada & The Canceling of its Currency"},"content":{"rendered":"
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Canada & The Canceling of its Currency<\/a><\/h3>\n<\/div>\n
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QUESTION #1:<\/strong>\u00a0If Canada is not a dictatorship, how can Trudeau cancel the dollar? How can he do so in secret?<\/p>\n

RW<\/p>\n

QUESTION #2:<\/strong>\u00a0Why can\u2019t Biden follow Trudeau and cancel the dollar?<\/p>\n

EH<\/p>\n

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ANSWER:<\/strong>\u00a0The answer lies in the difference in history.\u00a0 Because the paper currency called bills-of-credit back then became worthless, the Framers of the Constitution expressly took into account currency. I have written before that when I was a market-maker in gold and one of the three largest in the country, the IRS walked in and declared me to be a bank and then I was supposed to report everyone who bought or sold gold in $10,000 amounts or more. They cited the Constitution saying that gold and silver were money thereby making me a bank because Nixon only closed the gold window, he never\u00a0DEMONITIZED<\/strong>\u00a0gold. So I was suddenly a bank in no need of such a license for the purposes of the IRS. Hence, I retired.<\/p>\n

This raises an interesting question. Can Congress create a digital dollar constitutionally?\u00a0<\/u><\/b>The question of money was thus settled directly in the Constitution because each state had previously issued its own coinage and paper bills-of-credit (paper money).<\/p>\n

Article 1 \u2013 The Legislative Branch<\/em>
\nSection 10 \u2013 Powers Prohibited of States<\/em>
\n<<Back | Table of Contents | Next>><\/em><\/p>\n

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.<\/em><\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Canada & The Canceling of its Currency QUESTION #1:\u00a0If Canada is not a dictatorship, how can Trudeau cancel the dollar? How can he do so in secret? RW QUESTION #2:\u00a0Why can\u2019t Biden follow Trudeau and cancel the dollar? EH ANSWER:\u00a0The answer lies in the difference in history.\u00a0 Because the paper currency called bills-of-credit back then […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[5496,103,1861,212,309,4169,5479,1796,839],"class_list":["post-56553","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-armstrong-economics","tag-canada","tag-canadian-dollar","tag-dollar","tag-fiat-currency","tag-justin-trudeau","tag-martin-armstrong","tag-us-congress","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56553"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56553\/revisions"}],"predecessor-version":[{"id":56554,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56553\/revisions\/56554"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}