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So if the par value of a dollar is $42.22/gold oz. and the "market" value of a Fed note (which masquerades as a "dollar") is $1000/gold oz., is it fair to say that the Treasury Secretary has defaulted on his obligation to keep the various forms of currency (i.e., "dollars") at parity w/ each other?
And that this default goes back at least to the breakdown of Bretton Woods on August 15, 1971?
Is there a place in the USC where we can find the Treasury Secretary is bound to keep such an obligation?
EDIT: Interestingly, John Connally, the man riding next to Kennedy when he was killed, was Treasury Secretary when Bretton Woods broke down. He would soon be succeeded by George P. Shultz.. That "P" in Shultz's name is "Pratt", the same "Pratt" that owns the "Pratt House" up on Park Avenue in NYC where the Council on Foreign Relations meets.
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