Excellent article, I would like to add the following thoughts. I used perplexity to help me write this, however, I prompted all the ideas in it. I have shared these ideas for quite some time with family and friends. It was nice to read an article with similar thoughts to mine
The Coinage Act of 1792 established the foundation for the United States monetary system, with a particularly striking provision: the death penalty for debasing the currency[1][6]. This severe punishment reflects a profound understanding of money's role in society and its intrinsic connection to human labor and value.
## The Sanctity of Currency
The founders recognized that money represents more than just a medium of exchange; it embodies the stored energy, time, and effort of individuals[7]. When someone works, they exchange their finite resources - their life force, essentially - for compensation. This compensation, often in the form of money, becomes a tangible representation of their labor.
## Stored Human Potential
Money that isn't immediately spent on necessities like food, shelter, and clothing becomes savings - a reservoir of human potential. It's not just paper or metal; it's a crystallization of human endeavor, creativity, and sacrifice. By protecting the integrity of currency so fiercely, the founders were safeguarding the very essence of human productivity and aspiration.
## Debasement as a Violation of Human Dignity
To debase currency is to dilute its value, effectively stealing from everyone who holds that currency. In the context of money as stored human energy, debasement becomes a profound violation. It's not just financial fraud; it's an assault on the dignity and worth of every individual who has exchanged their irreplaceable time and effort for that currency[5].
## A Matter of Life and Death
The founders' decision to make debasement a capital offense sends a powerful message: if you devalue money, you devalue human life itself[3]. This perspective frames currency debasement not as a mere financial crime, but as an existential threat to the social fabric and the individual's right to the fruits of their labor.
## Modern Implications
While we no longer apply such drastic punishments, the principle behind this law remains relevant. In our current era of fiat currencies and complex financial systems, the debasement of currency through inflation or other means still represents a subtle but significant erosion of human value and potential[3]. It underscores the critical importance of maintaining the integrity of our monetary systems as a fundamental aspect of preserving human dignity and the social contract.
In essence, the Coinage Act of 1792's death penalty clause for debasement was a powerful affirmation of the intrinsic value of human labor and the sacred trust placed in the monetary system to faithfully represent that value. It serves as a stark reminder of the profound relationship between currency, human effort, and the very foundations of a just and prosperous society.
I would include coffee as an added commodity above cigarettes and sardines. The human being can withstand going with our cigs and sardines but not coffee.
Just wanted to say I quit coffee cold turkey last year - and life is better without that crutch. More money, less stress and nerves, and profoundly better sleep. Took a few weeks to get used to life without caffeine, but everything seems more level now. I can see more clearly. If that makes sense.
How a piece like this can be written in 2025 with no mention of the glaring elephant in the room, bitcoin, is beyond comprehension.
We do not have to passively accept the fiat control system as our inevitable reality anymore. We can save in bitcoin and pay our bills using converted bitcoin (numerous apps, like Strike, allow you to do this very easily, and even provide all the tax paperwork for you), and the math is very clear: your net cost of living goes way down, despite the spooky-ooky volatility of bitcoin. Convert most of your paycheck to bitcoin each month, pay all bills with it, and save the rest. Welcome to freedom. And it'll only get better, easier, and less scary as time passes.
“The words thus used are "dollars" and "cents." The sole question thus becomes what do these words mean. What is the thing called a "dollar" which is to be paid. The word is defined by law. The act of 1792, already referred to, in effect declares that our "money of account" shall "be expressed in dollars or units, dimes or tenths, cents or hundredths and mills or thousandths," etc. Usage has shortened this by the disuse of all except "dollars" and "cents." This provision of the original act has never been changed. It is, of course, perfectly obvious that these words are mere words or mere verbiage or a mode of expression, but the words are words of the language of the United States, and we must use these words whenever we express values in monetary terms when the money is the money of the United States. We say we must use these words because there are no others. Congress, by other provisions of the laws, took the word "dollar" out of the domain of verbiage and gave it substance and made of it the name of a substantial thing. What the thing is, of which a "dollar" is the name, has varied from time to time, and we now have dollars which differ in their form embodiment;…” New York & Pennsylvania Co. v. Davis, 8 F. 2d 662 - Dist. Court, WD New York 1925
“”The standard unit of computation is the money dollar, an abstract or ideal unit of account.[2] This standard unit of money has not changed in money value throughout the existence of our monetary system. There have been changes from time to time in the form of the physical representatives of money, but lawful money in the United States has been the same since the Act of Congress of April 2, 1792, provided that "The money of account of the United States shall be expressed in dollars or units, dimes or tenths, cents or hundredths, and mills or thousandths, a dime being the tenth part of a dollar, a cent the hundredth part of a dollar, a mill the thousandth part of a dollar * * *."[3]”” Bates v. United States, 108 F. 2d 407 - Circuit Court of Appeals, 7th Circuit 1939
31 USC § 5101. Decimal System “Dollar” is a Decimal Unit of Measurement
31 USC § 5119. “...the Secretary [of the Treasury] shall redeem gold certificates owned by the Federal reserve banks at times and in amounts the Secretary decides are necessary to maintain the equal purchasing power of each kind of United States currency.”
There is a difference between “price” and “purchasing power”.
Accurate or lawful delivery [payment] of a substance or thing requires three elements or indicia: 1) Numeric quantity; 2) unit of measure; and 3) the thing or substance being measured. As noted above, the unit of measure (“dollar”) cannot replace or become the thing for which it is to measure.
Excellent article, I would like to add the following thoughts. I used perplexity to help me write this, however, I prompted all the ideas in it. I have shared these ideas for quite some time with family and friends. It was nice to read an article with similar thoughts to mine
The Coinage Act of 1792 established the foundation for the United States monetary system, with a particularly striking provision: the death penalty for debasing the currency[1][6]. This severe punishment reflects a profound understanding of money's role in society and its intrinsic connection to human labor and value.
## The Sanctity of Currency
The founders recognized that money represents more than just a medium of exchange; it embodies the stored energy, time, and effort of individuals[7]. When someone works, they exchange their finite resources - their life force, essentially - for compensation. This compensation, often in the form of money, becomes a tangible representation of their labor.
## Stored Human Potential
Money that isn't immediately spent on necessities like food, shelter, and clothing becomes savings - a reservoir of human potential. It's not just paper or metal; it's a crystallization of human endeavor, creativity, and sacrifice. By protecting the integrity of currency so fiercely, the founders were safeguarding the very essence of human productivity and aspiration.
## Debasement as a Violation of Human Dignity
To debase currency is to dilute its value, effectively stealing from everyone who holds that currency. In the context of money as stored human energy, debasement becomes a profound violation. It's not just financial fraud; it's an assault on the dignity and worth of every individual who has exchanged their irreplaceable time and effort for that currency[5].
## A Matter of Life and Death
The founders' decision to make debasement a capital offense sends a powerful message: if you devalue money, you devalue human life itself[3]. This perspective frames currency debasement not as a mere financial crime, but as an existential threat to the social fabric and the individual's right to the fruits of their labor.
## Modern Implications
While we no longer apply such drastic punishments, the principle behind this law remains relevant. In our current era of fiat currencies and complex financial systems, the debasement of currency through inflation or other means still represents a subtle but significant erosion of human value and potential[3]. It underscores the critical importance of maintaining the integrity of our monetary systems as a fundamental aspect of preserving human dignity and the social contract.
In essence, the Coinage Act of 1792's death penalty clause for debasement was a powerful affirmation of the intrinsic value of human labor and the sacred trust placed in the monetary system to faithfully represent that value. It serves as a stark reminder of the profound relationship between currency, human effort, and the very foundations of a just and prosperous society.
Citations:
[1] https://www.supermoney.com/encyclopedia/coinage-act-of-1792
[2] https://www.investopedia.com/terms/c/the-coinage-act-of-1972.asp
[3] https://www.schiffgold.com/commentaries/happy-50th-birthday-to-junk-silver
[4] https://www.forbes.com/sites/briandomitrovic/2025/02/08/the-coinage-act-of-1792-and-monetary-policy-today/
[5] https://en.wikipedia.org/wiki/Debasement
[6] https://en.wikipedia.org/wiki/Coinage_Act_of_1792
[7] https://encyclopedia-of-money.blogspot.com/2010/01/coinage-act-of-1792-united-states.html
[8] https://www.usmint.gov/learn/history/historical-documents/coinage-act-of-april-2-1792
I would include coffee as an added commodity above cigarettes and sardines. The human being can withstand going with our cigs and sardines but not coffee.
Just wanted to say I quit coffee cold turkey last year - and life is better without that crutch. More money, less stress and nerves, and profoundly better sleep. Took a few weeks to get used to life without caffeine, but everything seems more level now. I can see more clearly. If that makes sense.
Good morning. I had to stop taking in sugar into coffee. Coffee is good for trading and teas, not as much. I haven't seen that as popular in jails.
Perfect sense, less anxiety and much better sleep.
Great piece. Not sure this is the "original matrix" though. See @ 2:45 https://www.youtube.com/watch?v=wcld2MN_Fac
How a piece like this can be written in 2025 with no mention of the glaring elephant in the room, bitcoin, is beyond comprehension.
We do not have to passively accept the fiat control system as our inevitable reality anymore. We can save in bitcoin and pay our bills using converted bitcoin (numerous apps, like Strike, allow you to do this very easily, and even provide all the tax paperwork for you), and the math is very clear: your net cost of living goes way down, despite the spooky-ooky volatility of bitcoin. Convert most of your paycheck to bitcoin each month, pay all bills with it, and save the rest. Welcome to freedom. And it'll only get better, easier, and less scary as time passes.
“The words thus used are "dollars" and "cents." The sole question thus becomes what do these words mean. What is the thing called a "dollar" which is to be paid. The word is defined by law. The act of 1792, already referred to, in effect declares that our "money of account" shall "be expressed in dollars or units, dimes or tenths, cents or hundredths and mills or thousandths," etc. Usage has shortened this by the disuse of all except "dollars" and "cents." This provision of the original act has never been changed. It is, of course, perfectly obvious that these words are mere words or mere verbiage or a mode of expression, but the words are words of the language of the United States, and we must use these words whenever we express values in monetary terms when the money is the money of the United States. We say we must use these words because there are no others. Congress, by other provisions of the laws, took the word "dollar" out of the domain of verbiage and gave it substance and made of it the name of a substantial thing. What the thing is, of which a "dollar" is the name, has varied from time to time, and we now have dollars which differ in their form embodiment;…” New York & Pennsylvania Co. v. Davis, 8 F. 2d 662 - Dist. Court, WD New York 1925
“”The standard unit of computation is the money dollar, an abstract or ideal unit of account.[2] This standard unit of money has not changed in money value throughout the existence of our monetary system. There have been changes from time to time in the form of the physical representatives of money, but lawful money in the United States has been the same since the Act of Congress of April 2, 1792, provided that "The money of account of the United States shall be expressed in dollars or units, dimes or tenths, cents or hundredths, and mills or thousandths, a dime being the tenth part of a dollar, a cent the hundredth part of a dollar, a mill the thousandth part of a dollar * * *."[3]”” Bates v. United States, 108 F. 2d 407 - Circuit Court of Appeals, 7th Circuit 1939
31 USC § 5101. Decimal System “Dollar” is a Decimal Unit of Measurement
31 USC § 5119. “...the Secretary [of the Treasury] shall redeem gold certificates owned by the Federal reserve banks at times and in amounts the Secretary decides are necessary to maintain the equal purchasing power of each kind of United States currency.”
There is a difference between “price” and “purchasing power”.
Accurate or lawful delivery [payment] of a substance or thing requires three elements or indicia: 1) Numeric quantity; 2) unit of measure; and 3) the thing or substance being measured. As noted above, the unit of measure (“dollar”) cannot replace or become the thing for which it is to measure.