Article 1 Section 8 of the Constitution says Congress has the ability to coin money and regulate the currency and doesn't say anything about gold or silver.
I don't belong to a church or political party or a group of any kind. I feel that Amnesty International is the most civilized organization in history. Its currency is the written word. Its weapon is the letter; that's why I am a member. I believe in its non-violence; I believe in its effectiveness. Its dignity and its sense of commitment. Its focus on individuals and the concentration and tenacity with which they defend those imprisoned for their ideas has earned it the cautious respect of repressive governments throughout the world.
As I holed up in the City of Angels, I was also aware of a comforting feeling of anonymity. In the world's biggest third-class city I could pass unnoticed. I spoke the language. I was familiar with the currency. I could drink the water. I could almost breathe the air, late April air, compounded of interesting hydrocarbons.
One man may have some special knowledge at first-hand about the character of a river or a spring, who otherwise knows only what everyone else knows. Yet to give currency to this shred of information, he will undertake to write on the whole science of physics. From this fault many great troubles spring.
Carbon is the currency of how you measure climate change, but water will be the teeth.
Attention is the currency of leadership.
Another question has been raised rather widely in Europe, in Japan as well as in the United States is what, to what extent will the euro become a reserve currency.
Reputation will become an even more important currency in the future.
This separation was absolute in our original Republic. But the sky-godders do not give up easily. In the 1950s they actually got the phrase In God We Trust onto the currency, in direct violation of the First Amendment.
I'm not trying to be diplomatic. I'm trying to be more nuanced and realistic. I think there has to be a serious examination of the shortcomings of the Euro structure. Euro central institutions, whether it be fiscal policy, monetary policy, financial regulation, are simply not as robust as they are in a currency that has a national government behind it.
Mitt - what I speak to Mitt Romney about is jobs. What I speak to Mitt Romney about is China, because he's got a great view on China and how they're trying to destroy our country by taking our jobs and making our product and manipulating their currency, so that it makes it almost impossible for our companies to compete.
The euro currency both presupposes and promotes a fiction - that 'Europe' has somehow become, against the wishes of most Europeans, a political rather than a merely geographic expression.
A currency designed for long-term storage and investment doesn't do so well at encouraging transactions and exchange in the moment.
To measure prices by a currency that is called by the same names as gold, but that is really inferior in value to gold, and then - because those prices are nominally higher than gold prices - to say that they are inflated, relatively to gold, is a perfect absurdity.
Europe unified its monetary policy through the euro before it unified politically, therefore sustaining member countries' abilities to pursue the kind of independent fiscal policies that can strain a joint currency.
A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms.
I fear this is not the right exchange to attain virtue, to exchange pleasures for pleasures, pains for pains and fears for fears, the greater for the less like coins, but that the only valid currency for which all these things should be exchanged is wisdom.
Audacity is the currency for authoritarians.
The value of a currency is, ultimately, what someone will give you for it - whether in food, fuel, assets, or labor. And that's always and everywhere a subjective decision.
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