Australia's Housing Frenzy

Re:Australia's Housing Frenzy by wallace_f on Saturday November 25, 2017 @07:08PM (#15778700)

If I am not mistaken, the right to print and regulate money is explicitly written in the constitution. I did some Googling, and it is in Article 1 Section 8.

>"The Constitution contains only two sections dealing with monetary issues. Section 8 permits Congress to coin money and to regulate its value.

www.let.rug.nl/usa/essays/general/a-brief-history-of-central-banking/money-and-the-constitution.php

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Re:Australia's Housing Frenzy by WalterBright on Saturday November 25, 2017 @07:29PM (#15778781)

Coin money and regulate its value, yes. Print money, no. The distinction is crucial, and the choice of words deliberate. There's a reason why the Fed is a pseudo-private institution, not just another government agency.

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Re:Australia's Housing Frenzy by wallace_f on Saturday November 25, 2017 @09:29PM (#15779147)

I disagree. "Regulate it's value," is unambiguous in meaning.

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Re:Australia's Housing Frenzy by WalterBright on Saturday November 25, 2017 @10:28PM (#15779288)

If you're right, why didn't the government print currency for 120 years, and why did they set up a pseudo-private organization to do it?

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Re:Australia's Housing Frenzy by wallace_f on Saturday November 25, 2017 @10:55PM (#15779343)

Oh come on. We are calling in to question the existence of every single constitutional injustice in the last 120 years here.

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