The Jacksonians banned fiduciary media... see Old Bullion's comments on money. Old Bullion was Andrew Jackson's genius speech writer because Andrew Jackson couldn't help himself and I feel like an idiot for ever supported Old Bullion on money. John Tyler and Jefferson were much better, but John Tyler really hit a home run when he decentralized the free market money system supported by Jefferson.
The govt was borrowing all the gold to fight the Civilized people. Look at the national debt from 1837-1841 and look at how much the govt paid the troops... it should then be obvious that you can't attempt genocide and have prosperity for the citizens at the same time.
Those two things made the depression from ending SBUS much sharper.
Dr. Paul's proposal to repeal legal tender was the best chance America ever had since it would've been a smooth transition compared to abolishing the Fed overnight and establishing a modern day Specie Circular.
A gold standard is nothing more than a govt standard, so I see no reason to desire the gold standard anymore. The gold standard under the Fed will either centralize most of the gold in the banking system, the hard money Jacksonian standard will centralize most of the gold in the hands of the govt.
Your thoughts on this?
I'd also like to make a thread on why Shay's rebellion was a revolt against State debt and not against private debt. (see pg 387 and beyond). In other words, Shay's Rebellion was in the Jeffersonian spirit of being against State debt.
Anyway, isn't it a shame that both the forced Hard money elite (those who supported crushing Shay's Rebellion) and the forced soft money elite (Hamilton) succeeded at overthrowing the legitimate and free market money Articles of Confederation?
The govt was borrowing all the gold to fight the Civilized people. Look at the national debt from 1837-1841 and look at how much the govt paid the troops... it should then be obvious that you can't attempt genocide and have prosperity for the citizens at the same time.
Those two things made the depression from ending SBUS much sharper.
Dr. Paul's proposal to repeal legal tender was the best chance America ever had since it would've been a smooth transition compared to abolishing the Fed overnight and establishing a modern day Specie Circular.
A gold standard is nothing more than a govt standard, so I see no reason to desire the gold standard anymore. The gold standard under the Fed will either centralize most of the gold in the banking system, the hard money Jacksonian standard will centralize most of the gold in the hands of the govt.
Your thoughts on this?
I'd also like to make a thread on why Shay's rebellion was a revolt against State debt and not against private debt. (see pg 387 and beyond). In other words, Shay's Rebellion was in the Jeffersonian spirit of being against State debt.
Anyway, isn't it a shame that both the forced Hard money elite (those who supported crushing Shay's Rebellion) and the forced soft money elite (Hamilton) succeeded at overthrowing the legitimate and free market money Articles of Confederation?
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