28th Amendment to the Constitution of the United States of America

The 28th Amendment to the Constitution of the United States of America has been ratified
Washington, DC - April 15th, 2018
Finally, on this victorious day for the citizens of the United States of America, the 28th amendment to the constitution has been ratified. This amendment solidifies the original positions of the founding father by uniquely promoting gold and silver as true money and explicitly banishing forever the use of fiat paper money or Legal tender. It also explicitly forbid the practice of Fractional Reserve Banking by any institutions, whether they are banks or credit unions or any other entity.
It still allows individuals to issue IOUs among themselves for payments of debt and services but it explicitly forbids the states and the federal government.
Now, banks will be forced to sell bonds to match precisely, dollar for dollar, the loans they are making to individuals and corporations. If they cannot sell the bonds, they cannot make the loans.
The amendment also explicitly forbid any form of bailouts to banks who made favorable loans to individuals and corporations that would not be able to repay later. The risk is all to the banks and if the banks fails the bond holders will also lose part or all of their investment.
Although this might lead to higher interest rates, it also strongly encourage the United States citizens to save generously more than spending. As the proponent of this amendment are saying, a right balance will eventually be reached and spending and saving will be in harmony, making the economy more stable and much less prone to booms and boost.

It is a great victory by the USA citizens over the banks who until now, enjoyed all the power. Their ability to influence congress to find a way to circumvent this amendment in the future will be much more difficult than what has been done in the past to circumvent the constitution. For example, although Article 1, Section 10 specifically said:

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

Although the "Hepburn v. Griswold" supreme court decision in 1870 declared Legal tender unconstitutional, somehow this decision was reversed a year later in the case Knox v. Lee and Parker v. Davis. That is what this amendment is trying to do, to make it so explicit that no future supreme court could be able to interpret this decision in any other way.

Great victory to all.