What did Our Founders Know, anyway?

PRINCIPLES OF NATURAL LAW: The Foundations of Money

“All the perplexities, confusion and distress in America arise not from defects in their Constitution or Confederation, nor from want of honor or virtue, so much as downright ignorance of the nature of coin, credit, and circulation.”

–John Adams

If John Adams felt this strongly in his time — when the average American was far more educated than today — I wonder what he would think today.  We’ve had some two-hundred and thirty-nine years to build a better understanding of the foundational principles underlying money and monetary practices.  Yet, for all our pride and arrogance, we not only haven’t gained in our understanding, we’ve regressed.

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