THE CONSTANT VALUE DOLLAR AMENDMENT
Discussion: Congress has the power to coin money; and no state shall make anything but gold and silver coin a tender in payment of debt. This amendment (if war is not declared) is intended to be in full compliance with the constitutional intent.
Also; it intends to end inflation of the money supply.
As the economy and population grow – more money is required to keep the MONEY’s VALUE CONSTANT.
Inflation of the money supply is brought about by bankers making loans using a scheduled RESERVE; today the reserve rate is about 10% and that produces about a 2% per year inflation rate. Deflation of the money supply happens anytime a borrower defaults on their loan; thus partially or fully destroying the money created with that loan. To bring about a constant value of the money the RESERVE RATE must be adjusted and monitored to bring about a CONSTANT VALUE DOLLAR.
The Supreme Court found that the GOLD STANDARD was too restrictive for financing war; it found that the printing of paper money was constitutional in the 1870 Legal Tender Decisions.
This amendment, when war is declared by Congress, allows for the federal government to create money as it did before this amendment. But during peace time, we the people believe that the “Constant Value Dollar” will be better for the economy.
A set aside provision is provided in the event that Congress declares war.
THE PROPOSED CONSTANT VALUE DOLLAR AMENDMENT
The Money Loan Reserve rate must be adjusted as needed to bring about a CONSTANT VALUE DOLLAR. The VALUE of the CONSTANT VALUE DOLLAR must be tested and shown from time to time to be probable that the DOLLAR’s VALUE remains within the limit of plus or minus one tenths of one percent of the Constant Value. And it must be improbable that the DOLLAR’s VALUE would exceed the limit of plus or minus one tenths of one percent.
The intent is that a object for sale (a house) if all conditions are equal, the house will be worth that same number of “constant value dollars” when it is bought today and sold 10 years from now or 50 years from now.
SET ASIDE PROVISION
If Congress Declares War; Congress may ignore this amendment to fund the war. After the war, Congress shall resume compliance with this amendment within three months of the time of surrender by the enemy.
Congress, within 6 months, must remove all inflation brought about during the war time economy.
Herbert G. Peters
Candidate for US Senate,