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<p>[QUOTE="Conder101, post: 532871, member: 66"]Correct on both counts. The problem as I see it is the Section 8 gave CONGRESS the power to borrow money and therefore the right to create paper money, and the CONGRESS was give the power to create money and to regulate its value. The Congress gave these powers over to the Fed. I suppose that could be construed as delegating their authority though.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 532871, member: 66"]Correct on both counts. The problem as I see it is the Section 8 gave CONGRESS the power to borrow money and therefore the right to create paper money, and the CONGRESS was give the power to create money and to regulate its value. The Congress gave these powers over to the Fed. I suppose that could be construed as delegating their authority though.[/QUOTE]
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