The Republican-controlled United States House of Representatives approved a bill on Thursday that would require the government to begin paying back foreign nations before spending funds on domestic items.
Full Faith and Credit Act – Requires the Secretary of the Treasury, in addition to any other authority provided by law, to issue obligations to pay with legal tender, and solely for the purpose of paying, the principal and interest on U.S. obligations [...]
“While I believe the concern over a devalued dollar as a result of an unsustainable federal deficit is justified, I am unable to support this legislation,” Brewer, a Republican, said in an open letter to state Senate President Andy Biggs.
Brewer noted that the “administrative and fiscal burdens” for taxpayers and the revenue department “remain vague.” She also cited uncertainty over whether the legislation would have required the state to exempt [...]
Arizona lawmakers pass bill making silver, gold legal tender
PHOENIX – The Arizona Senate on Tuesday approved a measure
to make gold and silver legal currency in the state, in a
response to what backers said was a lack of confidence in the
international monetary system.
The bill calls for Arizona to make gold and silver coins and bullion legal tender beginning in
mid-2014, joining existing U.S. currency issued by the federal government.
“We are seeing buyback from the general public,” a physical dealer in Tokyo told Reuters and there are reports of shortages of coins and bars and premiums increasing on bullion coins.
There are also reports of shortages of bullion coins and bars in Thailand and in Singapore where premiums on certain bullion coins which are legal tender and have favourable tax treatment, such as American gold and silver eagles, have risen due to tightness [...]
More Than Dozen States Push For Gold as Legal Tender, Bernanke Backlash
Distrust of the Federal Reserve and concern that U.S. dollars may become worthless are fueling a push in more than a dozen states to recognize gold and silver coins as legal tender.
Lawmakers in Arizona are poised to follow Utah, which authorized bullion for currency in 2011. Similar bills are advancing in Kansas, South Carolina and other states.
The measures backed by the limited-government Tea Partymovement are mostly symbolic — [...]
March 26th, 2013
Paper is poverty, and merely the ghost of money.
The majority of Americans, and citizens of the world for that matter, have no concept of what money is or how it actually works. For most, money, whether in a paper roll or represented by digits on their computer screen, means wealth.
That the very issuance of money is creation of debt is simply not something most people can [...]
Here’s my take on all the Gold symbolism:
- The US has long prepared to return to a Gold Standard and the time has come.
- The Gold Ink Well symbolizes the power of Congress to pass laws that can dismantle the Fiat Money System with the stoke of a pen.
- The Gold Liberty Bell within the ink well symbolizes Congresses ability to write laws that destroy the banking cabal’s strangle hold [...]
September 9, 2012
Swedes are among the technologically savvy people on the planet, based on their high rates of use of mobile phones and internet banking.
In fact, only three per cent of all financial transactions in the country are made using cash these days. Even public transport tickets can now be pre-paid using mobile phone technology, and most people use similar services to pay for everything from groceries to major [...]
Ron Paul, in his statement on his website on his latest campaign says:
“I recently held a hearing in my congressional subcommittee on the subject of competing currencies. This is an issue of enormous importance, but unfortunately few Americans understand how the Federal Reserve and Treasury Department impose a strict monopoly on money in America.
This monopoly is maintained using federal counterfeiting laws, which is a bit of a stretch. If any [...]
From Miller’s Genuine Draft:
For the contemporary leftist thinker, the financial crisis was caused by the imprudence and recklessness of Wall Street. The lack of government regulation over such instruments as subprime mortgages allowed the Street’s greedy ambitions to run amok. The casino-like risky lending which dominated the industry’s operations culminated in the worst economic downturn in nearly a century. Taxpayers were then forced to pony up for Wall Street’s despicable [...]
By 5min Forecast
May 17, 2012
A currency crisis, coming soon to an economy near you: Irish trading in punts again, while Argentines deal contraband dollars at schools and offices
Dollar drops, gold soars: Traders suddenly anticipate QE3, but one chart shows it’s not in the cards yet
Sign of the times: Japanese pension fund adds gold to compensate for zero interest rates
The Goldman Swirl… the coup de grace to the First Amendment’s “Yemen [...]
Coin collectors beware.
Senator Manuel Lapid has filed a bill to penalize the hoarding of coins to avoid coin shortage.
Citing figures from the Bangko Sentral ng Pilipinas (BSP), Lapid said there should be around 17.34 billion coins–worth around P18.94 billion–in circulation. He said that would mean around 184 coins per Filipino.
“To enterprising crooks, this volume of coins in circulation is a goldmine. Recent valuation of the worth of the country’s coinage [...]
[President Roosevelt Executive Order 6073, 6102, 6111, 6260; Senate Report 93-549, pgs. 187 & 594, 1973]
Pursuant to Title 12, USC Sec. 411, a “dollar bill” (Federal Reserve note) is NOT a dollar. It is a promise to pay face value – in dollars – in the future. That promise was repudiated in 1933 – over 76 years ago.
For over three generations, Americans have lived under a perpetual “temporary” State of [...]
The Constitution declares gold and silver are the only legal tender for payment of debts in America:
“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 [...]
Alternative currencies within the US…..
NEW YORK (CNNMoney) — It may seem like Monopoly money to outsiders, but a growing number of communities across the U.S. are using homegrown local currencies to stimulate their economies and protect themselves from the nation’s broader economic woes.
While there were only about 20 active community currencies in the United States in 2009, there has been a recent resurgence, with at least a dozen communities developing [...]
“REDEEMABLE IN GOLD ON DEMAND AT THE UNITED STATES TREASURY OR IN GOLD OR LAWFUL MONEY AT ANY FEDERAL RESERVE BANK.”
In 1934 every Federal Reserve Note carried the notation:
“THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE, AND IS REDEEMABLE IN LAWFUL MONEY AT THE UNITED STATES TREASURY OR AT ANY FEDERAL RESERVE BANK.”
In 2001 every Federal Reserve Note carried the notation:
“THIS NOTE IS LEGAL TENDER FOR ALL [...]
“If you think about it, it does seem odd that the US Government is the monopoly supplier of US dollars and yet our politicians go through life thinking the government will run out of money unless it can borrow more. Of course that’s not true, the coins in your pocket are legal tender and yet were not issued against debt. They’re minted by the US Government, backed only by the [...]
Yes, that’s true. We are debt slaves given the current monetary arrangement. My fundamental point is that we have a monetary system that can be used to prime aggregate demand without incurring additional debt. By maintaing the canard that we need to tax to reduce deficits or pay for goods and services only exaccerbates our national situation.
The question is what monetary system works to ensure individual choice in the acquistion [...]
Do you own flashlights? Or pay with cash instead of a credit card? And do grocery shopping for the week? I do. You probably do – and guess what, according to the Department of Homeland Security and the FBI, that could make both of us terrorists.
Recently, a Department of Homeland Security video has been making its way around the Internet; it tells people in no mixed terms that “paying cash [...]
Ron Paul lays it out: “We know what to do – we did it once after the Civil War period, we went from a paper standard back to the gold standard, and the event wasn’t that dramatic. But today the big problem is that both the conservatives and liberals have an big apetite for big government for different reasons, therefore they need the Fed to tie them over and monetize [...]
In this edition of the show Max interviews David Morgan from Silver-Investor.com.
He will talk about the new law implemented in the state of Utah making gold and silver legal tender.
So from now on the merchants in the state of Utah will start accepting gold and silver coins on a voluntary basis.
There is a depository that was set up where people can put their gold and silver into and [...]
I’m not an economist, but it seems that we need to decouple the two primary functions of money: 1) a store of value, and 2) a medium of exchange.
One potential solution is electronic exchanges that utilize “trade credits” backed by the value of the labor &/or product offered rather than national currencies. There are many B2B exchanges already in operation based purely on the [...]
By Ron Paul, op-ed first posted in Bloomberg
Default Now, Or Suffer A More Expensive Crisis Later
Debate over the debt ceiling has reached a fever pitch in recent weeks, with each side trying to outdo the other in a game of political chicken. If you believe some of the things that are being written, the world will come to an end if the U.S. defaults on even the tiniest portion of [...]
Bob Marshall, Republican delegate of Virginia´s House of representatives, told Fox Business in an interview that US states should acknowledge both gold and silver coins as an alternative legal tender to the dollar. The United States´ financial and economic problems were so dramatic that the country´s situation resembled the voyage of the Titanic. The American Constitution allows States to make gold and silver legal [...]