I have to ask a serious question, base on what can the government "ban" bitcoin? Isnt that against constitutions of US citizens?
Actually you will see that the Founding Fathers of the US constituion had very different viewpoints on how financial transactions were handled
Many of them actually hated the idea of a Federal Reserve and fought against it
Madison was the one who wrote the Second Bank of the United States into existence with his arguments in the Federalist Papers and the popularity of the greenback
But over time banking interests from Britain brought back the Federal Reserve and Centralized Banking
I'm sure if the founding fathers had a say in the constitution as it is written now and could apply Bitcoin to it we would see very strong arguments for this type of system over a centralized one.
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Excerpt from the Money Masters
https://archive.org/stream/TheMoneyMasters/Money_Masters_djvu.txtWhat one has to understand is that from the day the Constitution was adopted right up to today, the folks who profit from
privately owned central banks, like the Fed, or, as President Madison called them, the "Money Changers," have fought a
running battle for control over who gets to issue America's money.
Why is who issues the money so important? Think of money as just another commodity. If you have a monopoly on a
commodity that everyone needs, everyone wants, and nobody has enough of, there are lots of ways to make a profit and also
exert tremendous political influence.
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That's what this battle is all about. Throughout the history of the United States, the money power has gone back and forth
between Congress and some sort of privately-owned central bank. The American people fought off four privately-owned
central banks, before succumbing to the first stage of a fifth privately-owned central bank during a time of national weakness
- the Civil War.
The founding fathers knew the evils of a privately-owned central bank. First of all, they had seen how the privately-owned
British central bank, the Bank of England, had run up the British national debt to such an extent that Parliament had been
forced to place unfair taxes on the American colonies.
I n fact, as we'll see later, Ben Franklin claimed that this was the real cause of the American Revolution. Most of the founding
fathers realized the potential dangers of banking, and feared bankers' accumulation of wealth and power. Jefferson put it this
way:
"/ sincerely believe that banking institutions are more dangerous to our liberties than standing armies. Already they have
raised up a money aristocracy that has set the government at defiance. The issuing power should be taken from the banks
and restored to the people to whom it properly belongs. "
That succinct statement of Jefferson is in fact, the solution to most of our economic problems today. James Madison, the main
author of the Constitution, agreed. Interestingly, he called those behind the central bank scheme "Money Changers." Madison
strongly criticized their actions:
"History records that the Money Changers have used every form of abuse, intrigue, deceit, and violent means possible to
maintain their control over governments by controlling money and its issuance."
