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<p>[QUOTE=&quot;jolumoga, post: 26804413, member: 41780&quot;]<b>TL;DR:</b></p><p><b><br /></b></p><p><b>The Supreme Court screwed us in 1935.</b></p><p><br /></p><p>Apparently a post of mine was lost because I was not logged in, but I found this part from <i>Perry v. United States (1935)</i> compelling:</p><p><br /></p><p><i>(i) Plaintiff has not attempted to show that, in relation to buying power, he has sustained any loss; on the contrary, in view of the adjustment of the internal economy to the single measure of value as established by the legislation of the Congress, and the universal availability and use throughout the country of the legal tender currency in meeting all engagements, the payment to the plaintiff of the amount which he demands would appear to constitute not a recoupment of loss in any proper sense, but an unjustified enrichment. P. <a href="https://supreme.justia.com/cases/federal/us/294/330/#357" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://supreme.justia.com/cases/federal/us/294/330/#357" rel="nofollow">294 U. S. 357</a>.</i></p><p><br /></p><p>To summarize, Perry sued the government because the government bond he held stipulated repayment in gold, which Congress later prohibited. The Supreme Court affirmed the right of Congress to set the price of gold in relation to the U.S. dollar and (implicitly) restrict its trade domestically during a national emergency. The Supreme Court thus upheld the gold ban as constitutional. This means a future ban would be a matter of political &quot;will&quot; rather than &quot;right.&quot;</p><p><br /></p><p>Source: <a href="https://supreme.justia.com/cases/federal/us/294/330/" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://supreme.justia.com/cases/federal/us/294/330/" rel="nofollow">https://supreme.justia.com/cases/federal/us/294/330/</a>[/QUOTE]</p><p><br /></p>

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