Ron Paul’s Domestic Monetary Policy and Technology Subcommittee Hearing entitled “Road Map to Sound Money: A Legislative Hearing on H.R. 1098 and Restoring the Dollar”
(ed. We would like to note an additional argument made by the first witness, Dr. Parks, who points out that the Constitution’s 7th Amendment mandates a jury trial for all disputes involving $20 or more. But if the Congress can redefine what a dollar is, then they have granted themselves the power to redefine the 7th Amendment without going through the Constitutional Amendment process. Very tricky, those elected representatives!
Also, Dr. Parks makes some great points about how the government, with “hedonic pricing,” “Hicksian substitution,” and their other tricks, fool the people into believing that inflation is lower than it is, all while robbing the elderly and veterans of their promised benefits.)
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