In response to:

Yes Virginia, There Is A Constitutional Monetary Unit

Paulus Textor Wrote: Feb 06, 2013 10:34 PM
Answered above, but let us repeat, as the question is so important. The VALUE of gold lies in the fact that it is: 1) Difficult to create (you have to dig it). 2) Difficult to destroy (it's a chemical element, after all). 3) Limited in quantity (so thieving government officials can't just will it into existence). 4) A stable store of value (it's worth a lot today, will be worth a lot tomorrow, and a hundred years from now). 5) Divisible (you can divide it into smaller parts of equal value). 6) Uniform in value (you don't need to have an expert grade it in quality, as you would diamonds, for example). Thus, the chief VALUE of gold is that it is as close to a perfect form of money as one can imagine.

Last week, the Virginia House of Delegates Rules Committee passed, by an 11 – 1 bipartisan majority, a bill to establish “a joint subcommittee to study the feasibility of a United States monetary unit based on a metallic standard, in keeping with the constitutional precepts and our nation’s founding principles….” Such a study could prove to be a very big deal indeed.

It would bring a sleeper issue, one crucial to economic growth, to the fore of the national debate. (Full disclosure, this columnist provided, by invitation, a letter in support of this legislation before the subcommittee vote. This respectfully...