from Silver Doctors:
Uhh, the “dollar” is defined as a fixed weight and purity of “silver”, not gold, but then again, with “elected” “leaders” and “public” “servants”…
(by Half Dollar) Before anybody gets all excited about this nothingburger, I’d like to remind everybody that the US dollar was defined (and is supposed to be defined) as a fixed measure of silver, not gold.
But don’t take ‘Ol Half Dollar’s word for it, read the Coinage Act of 1792 for yourself (bold added for clarity):
TRUTH LIVES on at https://sgtreport.tv/
Dollars or the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver
Yup.
In other words, $1 (The Dollar) is defined as a fixed weight and purity of silver:
And since gold and silver are required to be our money, gold was used to define other derivatives of dollars such as Quarter Eagles ($2.50).
When it comes to gold & silver in the United States of America, it’s gold “and” silver, not gold “or” silver, so it’s not a “gold standard” in that sense, but rather, a “bi-metallic gold & silver standard”.
There’s a difference, and it matters.
