Sunday, December 6, 2009


As the Senate considers the reappointment of FED Chairman Bernanke I thought that it might be interesting to revisit the act that authorized the minting of money in the US. Realizing that we long ago gave up using gold and silver coinage, I have to wonder if the death penalty still applies to those that debase the currency? With the amount of fiat money that Bernanke has ordered printed and put into circulation, thus debasing the value of the dollar, I would think that he should be worried about more than losing his job.

Section 19. And be it further enacted, That
if any of the gold or silver coins which
shall be struck or coined at the said mint
shall be debased or made worse as to the
proportion of the fine gold or fine silver
therein contained, or shall be of less weight
or value than the same out to be pursuant to
the directions of this act, through the
default or with the connivance of any of the
officers or persons who shall be employed at
the said mint, for the purpose of profit or
gain, or otherwise with a fraudulent intent,
and if any of the said officers or persons
shall embezzle any of the metals which shall
at any time be committed to their charge for
the purpose of being coined, or any of the
coins which shall be struck or coined at the
said mint, every such officer or person who
shall commit any or either of the said
offenses, shall be deemed guilty of felony,
and shall suffer death.

The Coinage Act of April 2, 1792

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