Federal Reserve Notes Take Over

Michael S. Rozeff, on May 24, 2010, published part eleven of his brilliant story on America’s decline into unconstitutional money, entitled "The U.S. Constitution and Money".

Rozeff's mission is to summarize one of my favorite monetary books of all time, Edwin Vieira’s Pieces of Eight: The Monetary Powers and Disabilities of the United States Constitution.

Part eleven of the series is on federal reserve notes and Rozeff states, "This article begins with the story of the removal of silver from the money system between 1933 and 1968. It goes on to the partial reintroduction of silver and gold in the 1970s. I then survey many court cases from 1968 onwards that pitted the courts, who favored FRNs, against gold and silver advocates. These battles put a number of constitutional issues on display. They do not reveal a flattering portrait of American judges and courts at work, to say the least. Besides monetary and constitutional ignorance and error, we see bias, stonewalling, evasions, inapposite citations, slipshod thinking, and worse."

The U.S. Constitution and Money, Part 1 and Part 2, can be found here.

The U.S. Constitution and Money, Part 3 and Part 4, can be found here.

The U.S. Constitution and Money, Part 5, can be found here.

The U.S. Constitution and Money, Part 6, can be found here.

The U.S. Constitution and Money, Part 7, can be found here.

The U.S. Constitution and Money, Part 8, can be found here.

The U.S. Constitution and Money, Part 9, can be found here.

The U.S. Constitution and Money, Part 10, can be found here.


The U.S. Constitution and Money: Federal Reserve Notes Take Over (Part 11)

The U.S. Constitution and Money, Part 12, can be found here.

Michael S. Rozeff is a retired Professor of Finance living in East Amherst, New York. He is the author of the free e-book Essays on American Empire.