We have already eliminated any ceiling on printing paper silver, why have any ceiling on FRN's? Supply & demand don't matter in a socialist society do they? I'm sure that miners will continue to provide infinite quantities of physical for delivery against the infinite supply of paper silver & FRN's.
I am not sure who said it but i will repeat it, If the debt ceiling is truly a non issue, and it is totally ok for the government to spend to its hearts content, then print the required money accordingly, WHY ARE ANY OF US STILL PAYING TAXES????
Just think of all the IRS Agents and tax preparers pounding on the doors of those charged with paying off the Congress and the President to, "Do something, or we'll be looking for some other way to earn a living, and you will too."
It's all a Creature of fiat money and the corrupt Progressive Era. Things will soon be coming to a head.
I seems that it's all about adding some semblance of legitimacy, and of course a sense of value, to the system.
Beardsley Ruml, creator of the payroll withholding scheme, also made a famous speech asserting that since the end of the gold standard, "Taxes for Revenue are Obsolete". The real purposes of taxes were: to "stabilize the purchasing power of the dollar", to "express public policy in the distribution of wealth and of income", "in subsidizing or in penalizing various industries and economic groups" and to "isolate and #$%$ directly the costs of certain national benefits, such as highways and social security".
By now, of course, you have probabaly figured out that Ruml was a Bolshevik.