Chinese Bank introduces gold and silver coin ATMs

One of the objections we often hear to the Constitutional Tender Act is that it would force the States and their citizens to "buy silver and gold coins" and carry them around in their pockets all of the time. The only way to believe this, is if you believe that you have to "buy Federal Reserve Notes" and carry around hundreds or thousands of dollars in order to buy groceries, pay car payments, pay mortgages, etc.

Of course, you don't. You can use your debit card to pay almost anything nowadays. Bank computer programs automatically compute debits and credits; they can even automatically convert the cost of items from foreign currency to domestic currency, based on whatever the current market exchange rate is.

That's exactly what can be done by the banks under the Constitutional Tender Act's conversion formulas, as this story about getting gold and silver coins from ATMs in China proves. The unfortunate part of this story is that it falls into the modern trap of thinking that exchanging one form of currency -- fiat printed money -- for another form of currency -- gold and silver coins -- is the same as "buying gold or silver coins". If you go into a bank and exchange four $5 Federal Reserve Notes for a $20 Federal Reserve Note, did you just "buy an FRN"?

Of course not. If you exchange $25USD (U.S. Dollar) for $1SAE (Silver American Eagle), you aren't buying a once-ounce silver coin, you're exchanging American legal tender currency. And all you're doing at these Chinese ATMs is exchanging ¥268CNY (Chinese Yuan) for ¥10SP (Chinese Silver Panda) or other denominations -- you're not buying one-ounce silver coins, etc.

Regardless, this story once more shows how the ConTen Act could easily be implemented.

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People in Beijing can now buy gold or silver coins at ATMs after the Beijing-based Hua Xia Bank introduced five of the machines earlier this month, according to Hong Kong's We Wei Po.

The bank installed the five machines at its branches across the city in Xidan, Fangzhuang, Zhongguancun, Dongdan and on Qingnian Road.

The ATMs look like ordinary teller machines but have an additional compartment to dispense the gold and silver coins. The machines currently offer panda souvenir gold or silver coins and Year of the Snake silver coin and plate sets.

A single 1-oz panda silver coin priced at 268 yuan (US$40) is the cheapest item available, while the panda gold coin set is the most expensive at 23,800 yuan (US$3,800).

Buyers can purchase the coins using their bank cards. After they place their orders using the machine's touchscreen, their payments are verified through bank card organization China UnionPay and they can pick up their purchased items through the opening on the lower part of the machine.

If they want to purchase more than 20,000 yuan (US$3,200) worth of items, they will first need to place their ID cards on the machine's sensor to verify their identity before the order can be placed, Wen Wei Po said.

READ THE FULL ARTICLE HERE...

Moving Forward to a New Digital Gold Standard

This is a great article on how we can use gold & silver in everyday transactions. It answers the points raised by oh-so-many legislators:

"Gold and silver are too heavy to carry around a bag of metal to pay for everyday purchases."

"Gold is too valuable, we'd be using pieces the size of rice to try and pay for things."

"It's impossible to make change using gold and silver, the coins are not physically divisible at the cash register!"

The proof that we don't have to do any of that silliness is found in already-existing Digital Gold Currency. DGC lays the foundation for moving to simply doing what people are doing already - using digital money in everyday transactions - but using check cards & debit cards that are backed by gold & silver rather than Federal Reserve Notes (or whatever other government legal tender you're forced to use).

I understand - it can be difficult to wrap your head around the fact that gold and silver are money, and money doesn't have to take the form of nearly-worthless pieces of paper like we have today. But please - these legislators are Members of the BANKS AND BANKING committee. Surely...

It's time to return to sound money, that holds its purchasing value. The Constitutional Tender Act can help begin that process.

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by Mark Herpel, editor of Digital Gold Currency magazine

In my everyday conversations people always ask me, "are we going back to the gold standard? Is that what you want?"

I have to laugh and respond by saying, "yes, back to the gold standard of the 1800's and on your way out today, please turn in your car keys and pick up your horse & buggy."

We can't go back in time. We can't wake up one day and pretend that the cell phone was not invented or the Internet doesn't exist. Once the blind man gets his sight, there is no going back to the darkness.

As both Lewis E. Lehrman and Ron Paul say, we should be "going forward to a new gold standard".

The move from legal tender paper to voluntary use of gold and silver has already been occurring on a state by state basis in the U.S.

By giving people the option to use sound money over paper currency, slowly but surely, the state legislatures are offering real protection from ongoing paper money inflation. ..

READ THE FULL ARTICLE HERE...

Gold ATMs Hit Great Britain

If you look back, I've written several times (for example, here and here) about the coming of ATMs that exchange paper fiat money for actual gold. This is just a precursor -- a taste -- of what I'm always talking about: modern banking based on sound money. Well, those gold ATMs, which started in Abu Dhabi and then came to Boca Raton, Florida, have arrived on the shores of Great Britain as well.

(I encourage you to read my full comments on this issue here, where I expound in more depth.)

Why is this significant? Because, as I've talked about repeatedly, this is just a "taste" of the modern specie-based banking we can look forward to, if we implement ideas like the Constitutional Tender Act. But that's why this idea is key: the more we get used to the notion of gold and silver being money, the sooner we'll finally return to sound money that holds its value -- and the sooner we can save our trashed economy.

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Don't try snacking on these bars: The vending machine that sells gold not chocolate
Shoppers can pick up a 1g coin for roughly £40 or a 250g bar for £10,250
By Daily Mail Reporter

If you think chocolate bars are a little overpriced these days, then this isn't the vending machine for you.

For the only bars you can get here are made of pure gold and will set you back somewhat more than 70p.

Britain's first gold vending machine 'Gold to Go' will open today in the Westfield shopping centre in west London...

...There are no security guards protecting the machine, but would-be thieves would still have to contend with reinforced steel and a state-of-the-art alarm system.

'It would cost you a great deal more to get the gold out than the value of the gold inside,' Joe Dreixler, of Oriente Lux, said.

READ THE FULL ARTICLE HERE...

Constitutional Tender Act Gets Georgia House Subcommittee Hearing!

On Monday, March 8, 2011, a hearing was held in the Georgia House Financial Institutions & Services Subcommittee (a Banks & Banking Committee subcommittee) on HB 3, the Constitutional Tender Act.

Testimony in favor of the bill was given by Rep. Bobby Franklin & Dr. Bill Greene, who authored the bill. There was no testimony in opposition to the bill given.



HB 3 would return the State of Georgia to adherence to the U.S. Constitution's legal tender provisions. Specifically, the U.S. Constitution declares in Article I, Section 10 that "no State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts". This means that no State can make something a "tender in payment" (which means they cannot "make something an offer as payment") for any debts, which would include debts owed by and to the State. However Georgia, like EVERY State in the United States of America, HAS made some other "Thing" an offer as payment - they have by law declared that they will accept, and pay out, Federal Reserve Notes for any debts owed by or to them. Therefore, Georgia is in violation of Article I, Section 10 of the U.S. Constitution. Therefore, this bill would require Georgia to ONLY use gold and silver coins in payments to and by the State. Federal Reserve Notes could still be used by the people of the State in personal and business transactions, if they so choose; but with the introduction of competition with REAL money, FRNs will likely soon go the way of the dodo bird.

The witnesses testified and explained to the Members of this subcommittee the absolute requirement of the U.S. Constitution for the State of Georgia to ONLY use gold and silver coins in its transactions, and a dialogue was begun in the best MEANS by which this should be done. The legislators present (only 5 of 13 members showed) asked a good number of questions, many of which were already answered in the handouts they had been given in advance.

Rep. Franklin and Dr. Greene explained to the Members the need to return to fidelity to the Constitution quickly, in order to reap the greatest benefits from such an action. The likely complete devaluation of Federal Reserve Notes, and thus the need for Georgia to protect its citizens via returning to Constitutional Tender, was also explained.

No vote was taken at this hearing.

Further testimony by additional witnesses also followed, which will be uploaded as separate videos.

View the bill here.
Citizens of Georgia: Contact your State Representative here to ask they co-sponsor this bill!

Every American citizen TODAY needs to contact the Leaders of the Georgia House and ask them to support this bill -- CLICK HERE to take action NOW!

View last session's hearing & testimony here.

"Constitutional Tender Act assigned to Financial Institutions subcommittee"

TAKE ACTION TODAY!

On Tuesday, February 22, 2011, the Constitutional Tender Act (HB 3) was assigned to the Banks and Banking Committee's "Financial Institutions" subcommittee, "to have a hearing" (quote from committee Chairman Morris - see video below). Please contact subcommittee Chairman Tom Weldon and ask him to hold a hearing on this bill right away!

Email: tom.weldon@house.ga.gov
Phone: 404-656-0152
Fax: 706-965-4011
Address: 401 Coverdell Legislative Office Building, Atlanta, Georgia 30334

"Two more small Georgia banks fail"

This CAN be halted. Call your GA State Legislator today, tell them to PASS HB 3 and SB 116 - bills that will SAVE the banking industry in Georgia, and protect ALL of the people's money.

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Two more Georgia banks were closed Friday, including one with offices in Flowery Branch and Canton.

Clarkesville-based Habersham Bank, founded in 1904 in the North Georgia mountains, was seized and sold to SCBT of Orangeburg, S.C., the Federal Deposit Insurance Corp. said.

Citizens Bank of Effingham in Springfield, near Savannah, was acquired by Albany's HeritageBank of the South.

Six banks have failed in Georgia so far this year. A nation-leading 57 banks have failed in Georgia since mid-2008.

Regulators appear to be stepping up the pace of failures to start 2011. Georgia didn’t reach six failures in 2010 until late March.

READ THE REST OF THE ARTICLE HERE...

Video: "Sound Money Rings True"

Latest video from the folks at Utah Sound Money!

Constitutional Tender for Georgia? 10th Amendment Center

Written by: Michael Boldin
posted on 12/27/10 at the Tenth Amendment Center Blog

The United States Constitution states, in Article I, Section 10, “No State shall… make any Thing but gold and silver Coin a Tender in Payment of Debts.”

When was the last time your state followed this? For most living humans – never. In recent years, though, a number of states have seen Constitutional Tender Acts introduced with the goal of righting this wrong. Passage would nullify federal legal tender laws that prevent states from abiding by Article I, Section 10 of the Constitution.

In the 2011 legislative session, Georgia will consider House Bill 3 (HB3), which states, in part:

CONTINUE READING ARTICLE...

Another step towards Gold as Money: Boca Raton mall unveils ATM that dispenses gold

One of the most important aspects of restoring sound money to our country is the need for people to "wrap their heads around" the idea that gold and silver are money, and not just commodities. The Constitutional Tender Act does that by returning the State back to obedience to the Constitution's Article I, Section 10 negative mandate ("No State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts").

By doing this, as I explained in a recent article, precious metal coinage could return, because the State would be required to only use gold and silver coins (or their equivalents, such as checks or electronic transfers) for payments of any debt owed by or to the State. All contracts, tax bills, etc. would be required to be denominated in legal tender gold and silver U.S. coins. All State-chartered banks, as well as any other bank that is a depository for State funds, would be required to offer accounts denominated in those types of gold and silver coins, and to keep such accounts segregated from other types of accounts such as Federal Reserve Notes.

The State would use gold and silver coins as money; the public and businesses would start using gold and silver as money, in addition to Federal Reserve Notes; and the use of sound money would return to America, one State at a time.

But with all of that said, one of the most interesting things to come out in the subcommittee hearing that the ConTen Act received here in Georgia, was the idea in those legislators' heads that gold and silver simply could not be USED as money, PERIOD. We heard comments like these:

• "Where would the State keep all of its gold and silver coins?" (Answer: Where does the State keep all of its Federal Reserve Notes? In a BANK, of course - just like they would under this Act.)
• "How would people be able to carry around all of those heavy gold and silver coins?" (Answer: How do they carry tens of thousands of dollars in Federal Reserve Notes around? They DON'T - they carry checkbooks and debit cards - just like they would under this Act.)
• "How would people buy things at the grocery store?" (Answer: How do people buy things at the grocery store now? With physical cash, or with a check, or with a debit card, or with a credit card - just like they would under this Act.)

What do all of these kinds of questions have in common? They're based on a narrow view of what money is. Too many people have simply gotten used to the idea that pieces of green paper with dead presidents' pictures on them, and that aren't backed by anything of value, are "money," and gold and silver are "commodities." But that's a rather new idea, historically speaking; fiat money (pieces of paper backed by nothing, and declared "legal tender" by the government) was very much frowned upon by our Founders - which is why they explicitly denied to the States the power to use it. Until the past century or so, you could always pay for things with actual gold and silver coins. But, the general population has been trained by our "modern" government to throw that notion away, and to keep using those pieces of paper that lose more and more of their value every day... while gold and silver keeps its value.

Which brings me to the reason for this post: If you look back, I've written several times (for example, here and here) about the coming of ATMs that exchange paper fiat money for actual gold. This is just a precursor -- a taste -- of what I'm talking about here: modern banking based on sound money. Well, those gold ATMs have arrived on our shores:

Boca Raton mall unveils ATM that dispenses gold
By Frank Cerabino
Palm Beach Post Staff Writer
Thursday, Dec. 16, 2010

At 10 a.m. today, the Town Center Mall in Boca Raton will unveil a vending machine that dispenses gold bullion. That's right: You put in your money or your credit card, and you get wafer-thin gold bars or coins from the machine...

The gold ATM is made by a German company called Gold on the Go, which had its first machine operational in Abu Dhabi this year, and has had its gold vending machines operating in Germany, Italy and Spain. The one in Boca Raton will be the company's first in America.

Like I said, this is just a "taste" of the modern specie-based banking we can look forward to, if we implement ideas like the Constitutional Tender Act. But that's why this idea is key: the more we get used to the notion of gold and silver being money, the sooner we'll finally return to sound money that holds its value -- and the sooner we can save our trashed economy.

How the ConTen Act can Return America to Sound Money

Ron Paul, in his paper "The Political and Economic Agenda for a Real Gold Standard" (originally delivered at the Mises Institute's 1985 conference on the gold standard), discusses the steps which the economist Ludwig von Mises laid out for us to be able to return to a sound currency (which was in his 1952 epilogue to "The Theory of Money and Credit").

What's particularly relevant about this discussion is that, where the attempts at the national level to implement these steps have been halting at best, the Constitutional Tender Act actually builds on what HAS been accomplished and uses it to implement those steps starting at the STATE level... where they actually have the chance to SUCCEED.

The first step we need to take, writes Paul, is "Gold Coinage":

The heart of Mises's proposal to restore gold to our monetary system is a gold coinage. He wrote,

Gold must be in the cash holdings of everyone. Everybody must see gold coins changing hands, must be used to having gold coins in his pockets, to receiving gold coins when he cashes his paycheck, and to spending gold coins when he buys in a store.[7]

In this one detail — the critical importance of the gold coinage — I believe lies the key to establishing a new gold standard.

We should make no mistake about it: the more progress we make toward reestablishing the gold standard, the more aggressive our opposition will become. Some vested interests, as you know, have a lot to lose if we succeed in getting the monetary system reconstructed on a gold basis. The first political step is, therefore, to get the coinage into circulation.

One objective might be to aim for every American to become a gold owner. We must encourage a broader base of political support for gold ownership and the availability of gold for personal economic objectives. Certainly a broader base of gold ownership in the country would help to reduce the threats of discriminatory taxation or regulation of gold ownership and gold coin transactions, which are seriously favored in Congress today.

Under the Constitutional Tender Act (a proposed State law which re-applies the U.S. Constitution's negative mandate in Article I, Section 10, that "No State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts"), the State would be required to only use gold and silver coins (or their equivalents, such as checks or electronic transfers) for payments of any debt owed by or to the State (e.g., taxes, fees, contract payments, etc.). All contracts, tax bills, etc. would be required to be denominated in legal tender gold and silver U.S. coins, including Gold Eagles, Silver Eagles, and pre-1965 90% silver coins. All State-chartered banks, as well as any other bank that is a depository for State funds, would be required to offer accounts denominated in those types of gold and silver coins, and to keep such accounts segregated from other types of accounts such as Federal Reserve Notes.

So, with the ConTen Act, the foundation is now laid. Dr. Paul goes on:

What we must first do is get the coinage into circulation, and then build the political base to lock the government's fiscal folly with golden handcuffs. People have always understood the tangible value of gold coins in circulation. They don't need to agree or even understand the fine points of monetary theory to own gold coins, trade gold coins, or use gold coins to satisfy part of their marginal-utility demand for cash balances.

Most people understand very little about economics or monetary theory. When they see supposed experts in disagreement, the status quo wins by default, because nobody with the power to change it has the courage of conviction. The majority of voters see the debate among experts and hesitate to support any leaders with comprehensive reform schemes. This is why all efforts to rebuild a gold monetary system have met with frustration and stalemate in the past.

And this is the beauty of the Constitutional Tender Act: instead of being a top-down, federal-level effort, it is a bottom-up, State-level effort, thus giving it a higher likelihood of eventual success (see my paper presented at the Mises Institute's Austrian Scholars Conference, "Ending the Federal Reserve From the Bottom Up: Re-introducing Competitive Currency by State Adherence to Article I, Section 10"). Upon going into effect, the ConTen Act would introduce currency competition with Federal Reserve Notes, by outlawing their use in transactions with the State. Ordinary citizens of the State, being required to pay their State taxes in gold and silver coins, would find it necessary to open bank accounts in those denominations. Businesses operating within the State, being required to pay their State sales taxes and license fees in gold and silver coins, would need to do the same; and in order to acquire such coins, they would begin to offer their goods and services in "dual currency" denominations, where customers could choose to pay in Federal Reserve Notes (which would still be necessary to pay Federal fees and taxes) or gold and silver coins (including checks and debit cards based on bank accounts denominated in such coins). Customers, having found the need to open such accounts in order to deal with the State, would be able to engage in commerce using those accounts.

Over time, as residents of the State use both Federal Reserve Notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve Notes do will lead to a "reverse Gresham's Law" effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve Notes). (Gresham's law is stated as, "Where legal tender laws exist, bad money drives out good money." A reverse of this would be, "In the absence of legal tender laws, when people are given the free choice between using and accepting good money or using and accepting bad money, bad money becomes less popular than good money, and is driven out of the marketplace.") As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the State's treasury, an influx of banking business from outside of the State (as citizens residing in other States carry out their desire to bank with sound money), and an eventual outcry against the use of Federal Reserve Notes for any transactions. At that point, the Federal Reserve system will have become unwanted and irrelevant, and can be easily abolished by the people's elected Representatives in Washington, D.C. -- and thus open the door for a return to sound money, nationwide.

All of this can take place because Dr. Paul helped bring about the minting once again of legal tender U.S. gold and silver coins, which can now be used to return every State to its Constitutional mandate for honest money. He recognized that this first step was a necessity: "There must certainly be no restrictions on the private production of coins, but I believe that getting the US Mint further into the act, producing a gold coinage with some of the mystique of the government, will be useful in the further political stages of monetary reform. Honest money, after all, is a political objective; it is fitting that people should demand honesty from their government, as well as an economic policy that permits individuals to compete honestly." Now, with the Constitutional Tender Act, that political objective is within reach.

Constitutional Tender Act RE-Introduced in Georgia!

The "Constitutional Tender Act" has been re-introduced in the Georgia House of Representatives by Rep. Bobby Franklin (R-43), a member of the Georgia House Banks & Banking Committee, for the 2011 Session of the Georgia Legislature. The bill number is HB 3.

It will take a strong dose of involvement from citizens across the country to get our States back on track using Constitutionally-mandated money, so we'll need YOUR help!

Every citizen TODAY needs to contact the Leaders of the Georgia House of Representatives and ask them to support this bill -- CLICK HERE to take action NOW!

Gold- and Silver-denominated Bank Accounts

THIS is what we're talking about, when we say that if Georgia (or any State) passes the Constitutional Tender Act, the banking business would BOOM here, as people from other States rush to open gold- and silver-denominated bank accounts:

The thing that I have seen on the ground, though, is a disproportionate amount of mainlanders in the shops and banks buying physical gold for storage here in Hong Kong.

In Asia, it’s common to use a measurement for gold called a Tael, which is roughly 1.215 troy ounces. They sell locally minted products at 990 fineness at very low premiums: at one of the banks I visited, the premium was only 5 HKD (less than a buck) plus 1% above spot.

9999 fineness (Maple Leaf coins and the like) sell for a bit more, but not much.

This morning I saw mainlanders scooping up these deals like it was the day after Thanksgiving in Wal Mart. They don’t take the gold back to China, they leave it here at a number of banks or facilities. Secure storage is in such high demand, in fact, that there is a 5-year waiting list for larger boxes.

Banks in Hong Kong have responded with some innovative products - they offer deposit accounts that are denominated in gold (taels), and on top of this they also offer a line of credit for up to 70% of the bullion on deposit.

This isn't rocket science, folks. Banks will continue to fail under the current system (Georgia leads the way) - it's time to dump the fiat paper money, and embrace real money that holds real value: Gold and Silver, the only Constitutional Tender allowed to States.

Elite Bankers Suddenly Interested In Past Hyper-Inflations?

The UK Telegraph had an interesting article on Sunday, entitled "The Death of Paper Money". It talks about a couple of books that are suddenly in demand among "elite banking circles" - books dealing with the causes and results of past hyper-inflations.

Both books are out of print in the U.S., but both of them can also be downloaded for free online:

Dying of Money: Lessons of the Great German and American Inflations, by Jens O. Parrson (1974)

When Money Dies: The Nightmare of the Weimar Hyper-Inflation, by Adam Fergusson (1975)

You can also buy a new paperback reprint of Fergusson's When Money Dies from the UK Amazon for under $30.

So, when unbacked fiat paper money dies... will we finally return to Constitutional Tender?

"CREED OF GOLD" Action movie centered around the Fed banksters - coming soon!

Official Movie Site: CLICK HERE

Idaho: Hart's Silver Gem Act held in Senate committee

Hart's Silver Gem Act held in Senate committee

March 24, 11:31 PM · William Young - Boise Economic Policy Examiner
http://www.examiner.com/x-16226-Boise-Economic-Policy-Examiner~y2010m3d24-Harts-Silver-Gem-Act-fails-in-Senate-committee

The Idaho Silver Gem Act, sponsored by Representative Phil Hart (R-Athol) failed to pass the Senate Local Government and Taxation Committee today. The motion of Senator Joe Stenger, (R-Lewiston) to hold the bill in committee passed nearly unanimously, with committee chairman Senator Brent Hill (R-Rexberg) voting against the motion. Senator McKague's (R-Meridian) motion to send the bill to the Senate floor without recommendation was not seconded.

Stenger objected to the special treatment that would be given to silver processing facilities, saying that other businesses in the state would be equally deserving of the property and income tax exemptions promised by the bill, which were included as incentives to invest in new operations in the state. Stenger also objected to bill placing the state treasurer in the position of a commodities trader, saying that the additional workload was not justified by the benefit. Sen. Mike Jorgenson (R-Hayden) echoed Stenger's concerns, adding that for the treasurer to engage in commodities trading would "not be a healthy position" for Idaho.

Hart emphasized the potential the bill would hold for jobs creation and was joined by three Idaho residents warning of the damaging effects of the use of the "fiat currency" of the Federal Reserve. Hart mentioned that between 1792 when Congress minted the first US coins and 1913 (when the Federal Reserve Act was passed), the total inflation was 17%, while inflation has been 3200% since 1913.

In hist testimony, Hart shared the estimate of Bob Hopper of Bunker Hill Mining Company that the bill could put 400-800 miners to work in north Idaho, which Hart said would be joined by another 1.3 times that in jobs in supporting industries. Hart said much of Idaho's silver is currently exported to countries including Canada, China and India.

Hart also addressed environmental concerns, mentioning the modern hydrometallurgical technology that would be used in new silver processing facilities. He also suggested that the establishment of silver operations could lead to the clean up of mining tailings at superfund sites containing valuable indium. Hart estimated an additional $5-10 million in tax revenues resulting from the creation of jobs and up to $80 million with cleanup efforts.

Hart said he would have to meet with the members of the committee individually if he was to address their concerns.

Copyright 2010 Examiner.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Ron Paul: Greece is just the beginning!

Final Push for SB 416 - "Sound Money in Banking Act"

So, this Friday (March 26th) is "Crossover Day" in the Georgia legislature. That is, if a bill doesn't get passed by a chamber by Friday, it cannot "cross over" to the other chamber to be passed into law.

We've pushed hard over the past year for HB 430, the "Constitutional Tender Act," here in Georgia. We got it a large hearing before two combined subcommittees - something that had never been done before with a bill like this. But then, the subcommittee chairs wouldn't hold a vote on the bill, in order to send it up to the full committee for a hearing and vote; so, we couldn't get it to the full House for a vote, either.

(Feel free to contact the chairmen of the subcommittees, Mike Coan and Calvin Hill, to let them know what you think of them bottling up this simple bill to return Georgia to its Constitutional requirements of sound money.)

Last month, we saw a new bill introduced on the Senate side: SB 416, the "Sound Money in Banking Act," which is basically one-half of the Constitutional Tender Act (the half dealing with getting banks to offer accounts based on legal tender Gold Eagles and Silver Eagles). This bill quickly garnered the co-sponsorships of over 25% of the Senate Banking and Financial Institutions Committee; however, the chairman of that committee, Sen. Bill Hamrick, has yet to bring the bill up for debate and a vote.

After Friday, it will be too late. So, this is the last chance we'll have this session to get any sound money bill through the Georgia legislature.

This week, I faxed a letter to 1,079 bank presidents across Georgia, which said this:

I'm writing to you today to ask you to take a very important action in order to SAVE the rapidly failing banking industry in the State of Georgia.

As you know, times are tough for banks right now. In fact, Georgia is leading the nation in the number of bank failures over the past year. More than three out of five Georgia banks were unprofitable in 2009, over twice the national average. The banking industry desperately needs new ways of bringing in business, customers, and money.

Thankfully, State Senator David Shafer, a member of the Senate Banking and Financial Institutions Committee, has introduced SB 416, the "Sound Money in Banking" Act. This bill would require any bank serving as a depository for the state to offer and accept legal tender gold and silver coins for deposit. Such a bill could SAVE the banking industry - and YOUR bank.

If banks in Georgia were to allow their customers to establish legal tender gold and silver accounts, there will be a HUGE influx of customers not only from across Georgia, but from across the nation; this is the Georgia banking industry's best opportunity to attract the record-breaking legal tender silver and gold coin business, now at over 30 million Silver Eagles and nearly 2 million Gold Eagles per year. That would be an increased reserve of over $2.2 BILLION in value in Georgia's banks - and NO other state is offering this service in its banks!

Right now, over 25% of the members of the Senate Banking and Financial Institutions Committee are already co-sponsors of this bill. But in order for the bill to continue to move forward, we need for SB 416 to be voted OUT of committee, and passed in the full Senate - before THIS FRIDAY, March 26th! Otherwise, the bill will DIE this year.

Right now, I'm asking you to please contact Sen. Bill Hamrick, the Chair of the Committee, at 404-656-0036. Ask him to schedule a hearing and a vote for SB 416, the "Sound Money in Banking" Act, THIS WEEK. Next week will be too late. The future of banking in Georgia is depending on YOU right now. Thank you.

I've also sent a message to all 1,296 members of our ConTen Facebook cause/group, asking them to contact Sen. Hamrick as well. I've done the same to the 5 co-sponsors of the bill. And, of course, I've contacted Sen. Hamrick directly, to make my case once again.

And now, I'm asking YOU to do the same. Please call Sen. Hamrick at 404-656-0036, email him at bill.hamrick@senate.ga.gov, and/or fax him at 404-651-6767. Ask him to please schedule a hearing BEFORE FRIDAY for SB 416, and tell him why it's important: to save the Georgia banking industry, and restore sound money for our citizens.

Thank you for your help, and your support. Let's keep pushing. We have to; it's our moral duty to our neighbors and fellow citizens.

We have ONE WEEK to get SOUND MONEY in Georgia!

March 18, 2010

Dear Supporter of Sound Money,

We have four favors to ask of you - and we are asking every last one of you, PLEASE take action TODAY. As the largest grouping of supporters of Sound Money and Constitutional Tender, we CAN influence the 2010 session of the Georgia State Assembly, but ONLY if people step up and are heard. The next seven days need to be busy ones for you, the Sovereign Citizens. Let's take advantage of our numbers and commitment to the cause.

"Crossover day" is fast approaching. This is the day when bills that do not pass one chamber or the other are DEAD. This year, it appears that crossover day is going to be next Thursday, March 25, 2010. This date is only ONE WEEK AWAY.

Our two supported bills - HB 430, the "Constitutional Tender Act," and SB 416, the "Sound Money in Banking Act" - are still alive and kicking. HB 430 has had a big hearing before the Banks and Banking Committee's combined Financial Institutions & Services Subcommittee / Regulations & Oversight Subcommittee; and SB 416 has received the co-sponsorship of a full 25% of the Senate Banking and Financial Institutions Committee!

HOWEVER, neither of the bills have been voted on by their full committees, in order to get them a full vote on the floor of the House and Senate. Again, a floor vote MUST take place by Thursday. We have worked through the schedule that we provided our supporters for contacting the House and Senate Committee Members - without success. TIME IS NOW SHORT. Personal contacts are best, but if you cannot do that, then PLEASE write, email, fax, and call on the telephone. With almost 3,000 members, we should be able to FLOOD them with paper over the next week.

PLEASE do the following four things:

(1) If you have not yet contacted the House Banks & Banking Committee Chairman, Rep. James Mills, PLEASE do so. Mail a paper letter, and, in addition, fax it if you have access to a fax machine. Send an email, and call. If you previously sent an email, then write a paper letter, mail it, fax it, and call.

Capitol Office:

228 State Capitol
Atlanta, GA 30334
404-656-5099
770-967-6801 (fax)
Email: james.mills@house.ga.gov
Legislative Assistants:
Gail Morgart: gail.morgart@house.ga.gov
Nataliya Nemsteva: nataliya.nemsteva@house.ga.gov

District Office:

3948 Kilgore Falls Drive
Gainesville, GA 30507
Phone: 770-967-6801 (Home)

(2) If you have not yet contacted the Senate Banking & Finance Committee Chairman, Sen. Bill Hamrick, again, PLEASE do so. Mail a paper letter, send an email, and call. If you missed one or more of those methods of contact, such as you called on the telephone but did not do the others, then now is the time to do the others.

Capitol Office:

121-H State Capitol
Atlanta, GA 30334
(404) 656-0036
(404) 651-6767
Email: bill.hamrick@senate.ga.gov
Legislative Assistant:
Laurie Sparks: laurie.sparks@senate.ga.gov

District Office:

P.O. Box 368
Carrollton, GA 30112

(3) Then please select at least three Representatives from the Banks & Banking Committee at random (making sure to include your own as one of the three if your Representative is on the Committee), and write, email, and call those three Representatives:

Hill, Calvin (R-21) Vice Chairman 404-656-0129 chill@gilainc.com
Hill, Cecily (R--180) Secretary 404-656-0177 cecilyhill@tds.net
Allison, Stephen (R-8) Member 404-656-0177 stephen.allison@house.ga.gov
Benfield, Stephanie (D-85) Member 404-656-7859 stuckey@mindspring.com
Coan, Mike (R-101) Member 404-656-6801 repcoan@charter.net
Collins, Toney (D-95) Member 404-656-0265 toneycollins95@gmail.com
Cox, Clay (R-102) Member 404-656-5139 clay.cox@house.ga.gov
Dawkins-Haigler, Dee (D-93) Member 404-656-0287 dee.dawkins-haigler@house.ga.gov
Ehrhart, Earl (R-36) Member 404-463-2247 earl@ehrhart.4emm.com
Fludd, Virgil (D-66) Member 404-656-0314 vfludd@mindspring.com
Frazier, Gloria (D-123) Member 404-656-0265 frazier26@comcast.net
Harden, Buddy (R-147) Member 404-656-0109 bharden@planttel.net
Houston, Penny (R-170) Member 404-463-2247 penny.houston@house.ga.gov
Jordan, Darryl (D-77) Member 404-656-0116 darryl.jordan@house.ga.gov
Kaiser, Margaret (D-59) Member 404-656-0265 mkaiser2@comcast.net
Knight, David (R-126) Member 404-656-0152 david.knight@house.ga.gov
Marin, Pedro "Pete" (D-96) Member 404-656-0314 david.knight@house.ga.gov
Mayo, Rahn (D-91) Member 404-656-6372 rahnmayo@gmail.com
Morris, Greg (R-155) Member 404-656-8441 greg.morris@house.ga.gov
Nix, Randy (R-69) Member 404-656-0177 randy.nix@house.ga.gov
Parrish, Butch (R-156) Member 404-463-2247 butch.parrish@house.ga.gov
Peake, Allen (R-137) Member 404-656-7146 allen@allenpeake.com
Reese, Bobby (R-98) Member 404-656-0254 bobby.reese@house.ga.gov
Rice, Tom (R-51) Member 404-656-5912 tom.rice@house.ga.gov
Scott, Martin (R-2) Member 404-656-0254 martin.scott@house.ga.gov
Shaw, Jay (D-176) Member 404-656-7859 jay.shaw@house.ga.gov
Sheldon, Donna (R-105) Member 404-656-5025 donna.sheldon@house.ga.gov
Sinkfield, Georganna (D-60) Member 404-656-6372 georganna.sinkfield@house.ga.gov
Smith, Earnest (D-122) Member 404-656-6372 ma1027@aol.com
Talton, Willie (R-145) Member 404-656-0254 willie.talton@house.ga.gov
Weldon, Tom (R-3) Member 404-656-0152 tom.weldon@house.ga.gov
Williams, Mark (R-178) Member 404-656-0188 mark@markwilliams.com

The link for the Rules Committee members is listed here: http://www.facebook.com/topic.php?uid=207293055169&topic=11904 . Please do not copy all of the Representatives on the Committee on an email. The emails are much more effective if they are sent from one individual Georgian to one individual Representative.

(4) Then please select at least three Senators from the Banking & Finance Committee at random (making sure to include your own as one of the three if your Senator is on the Committee), and write, email, and call those three Senators.

Hudgens, Ralph T (R-SS 47) - Vice Chairman - 404-656-4700 ralph.hudgens@senate.ga.gov
Butterworth, Jim (R-SS 50) - Secretary - 404-463-5257 - Jim.Butterworth@senate.ga.gov
Bulloch, John (R-SS 11) - Member - 404-656-0040 - john.bulloch@senate.ga.gov
Crosby, John (R-SS 13) - Member - 404-463-5258 - John.Crosby@senate.ga.gov
Goggans, Greg (R-SS 07) - Ex-Officio - 404-463-5263 - greg.goggans@senate.ga.gov
Harbison, Ed (D-SS 15) - Member - 404-656-0074 - ed.harbison@senate.ga.gov
Murphy, Jack (R-SS 27) - Member - 404-656-7127 - jack.murphy@senate.ga.gov
Pearson, Chip (R-SS 51) - Ex-Officio - chip.pearson@senate.ga.gov
Thompson, Steve (D-SS 33) - Member - 404-656-0083 - steve.thompson@senate.ga.gov

The link for the Banking & Finance Committee members is listed here: http://www.legis.ga.gov/legis/2009_10/senate/banking.php . Please do not copy all of the Senators on the Committee on an email. The emails are much more effective if they are sent from one individual Georgian to one individual Senator.

2010 is the last year of a two year session. March 25, 2010 will be the last day to pass HB 430 out of the House and cross it over into the Senate, and the last day to pass SB 416 out of the Senate and cross it over into the House. PLEASE DO NOT DELAY!

The devaluation of Federal Reserve Notes - the U.S. Dollar - will grind on with or without your participation. The time to act is NOW if you wish to influence the passage of HB 430 and SB 416 and restore Sound Money to Georgia -- and then to the country. WE HAVE ONLY ONE WEEK LEFT. Let's make the best of it. Please make the contacts needed to pass HB 430 and SB 416 out of House and Senate.

Thank you!

Bill Greene
http://www.ConstitutionalTender.com/

Local Idaho News Reports on Their Constitutional Tender Act

Well, it's more like a hit piece, or at least trying to make fun of what they don't understand... but right now, just about anything is progress!
View the bill here.
Contact your Idaho State Representative here.

Back To The Gold Standard
Posted: March 9, 2010 11:35 PM
Updated: March 10, 2010 12:15 AM
By Emma Jade, Local News 8 Reporter

BONNEVILLE CO. - Silver and gold - not many of us have much of it lying around, but imagine exchanging a gold piece for a bag of groceries. It's not as ridiculous as it sounds. There is a new bill being discussed in the State House of Representatives that would legitimize trading gold for merchandise. An interesting idea - what do local people think?

"Here is some Horizon Organic Milk for about six dollars," said Broulim's Store Manager, Lee Jephson. "If a person would come in and give me a silver piece and expected me to value the coin and get the value out of this and give them change back, it would be hard and would we be fair? Would we know what to do and how to do it?"

The cash in your wallet, those credit cards you have stacked-up, could be joined by bits of gold and silver.

"I mean I have a wallet but I don't want to put gold and silver in there," said local shopper, Annette Call. "If somebody would see it they'd take it from me."

It sounds a little off...

"It seems very strange. I don't see how it would make sense with the advances we've made to this point," said Idaho Mountain Trading Manager, Cindy Croft. "It'd be like going backwards."

But a bill being discussed in the Idaho Legislature is trying to make it a reality.

Let's say you owned two American Eagle one ounce silver coins. If the bill passed, you could take the coins to an exchange to open an account. The account could transfer the worth of those coins to a business or even a debit card.

The bill even takes it one step further saying businesses could advertise their products in ounces of silver or gold.

"I'm not sure where silver is but bring in your silverware and maybe we can trade you for a boot," joked Idaho Mountain Trading Manager, Richard Napier.

"First thing that went through my mind is it would be like we'd all become pawn shops," added Croft.

Many shoppers agree...

"I laughed - I said 'yeah, that's ridiculous,'" said Call.

"A little piece of plastic is a lot easier," said shopper, James McBride.

The bill is only a week old. Those on the Ways and Means Committee say it's a way of spending something of actual worth and not just a Federal Reserve Note.

However, local businesses and shoppers think it's just too much of a hassle.

You can voice your opinion about House Bill 622 by contacting your Idaho Legislators. For their contact information, visit: http://www.legislature.idaho.gov/

This Act would not interfere with our dollars and cents in place now. Instead, it would encourage private persons and businesses to create a voluntary private money system based on gold and silver.

Send ONE EMAIL for Sound Money!

Dear Friends of Sound Money,

We are making GREAT progress here in Georgia in advancing Sound Money and Constitutional Tender!

Our latest bill, SB 416, the "Sound Money in Banking Act" (to require any bank serving as a depository for the state to offer/accept gold and silver coin for deposit) was introduced in the Georgia Senate by Sen. David Shafer on Tuesday, 2/16 - almost EXACTLY one year after our original bill, the Constitutional Tender Act (HB 430), was introduced in the House!

See the bill here: http://www.legis.state.ga.us/legis/2009_10/sum/sb416.htm

The bill has been assigned to the Senate Banking and Finance Committee. That's a good thing, because over 25% of the Committee Members are already CO-SPONSORS of this bill! But in order for the bill to continue to move forward, we need for the next important step to take place:

The Chairman of the Committee MUST bring the bill up in Committee, and set a date for a full hearing on it.

So here's what we need to do now: the Committee Chair, Sen. Bill Hamrick, needs to schedule a full hearing on SB 416 -- SOON. The committee could then take testimony from lots of OUR experts on what exactly it would mean to carry out this bill. This would not only garner a LOT of publicity -- especially if we get some big names to come testify -- but it really WOULD educate these legislators on exactly WHY we need to pass this bill.

So, fellow Constitutionalists, we need to TAKE ACTION AGAIN! Here's how:

* Contact Sen. Bill Hamrick, the Chair of the Senate Banking and Finance Committee:

Email: bill.hamrick@senate.ga.gov
Office: 404-656-0036
Fax: 404-651-6767

* Ask Sen. Hamrick to please schedule a hearing SOON for SB 416, the Sound Money in Banking Act, before the Senate Banking and Finance Committee;

* Remind Sen. Hamrick about why this bill is so important: because the citizens of Georgia, like every other State, are facing a large devaluation of the dollar because of the current administration's policy of bailouts and borrowing: the "Obama inflation". Directing banks to allow their customers to establish accounts based on legal tender gold and silver coins will provide a safe and convenient way for the citizens of Georgia to "hedge" against the "Obama inflation".

* You can also respectfully remind Sen. Hamrick that this bill is also needed because, with Georgia LEADING THE NATION in BANK FAILURES, the banking industry desperately needs new ways of bringing in business, customers, and MONEY. More than three out of five Georgia banks were unprofitable in 2009, over twice the national average. If banks in Georgia are directed to allow their customers to establish gold and silver accounts, there will be a HUGE influx of customers not only from across Georgia, but from across the nation; this is the Georgia banking industry's best opportunity to attract the record-breaking legal tender silver and gold coin business, now at over 30 million Silver Eagles and nearly 2 million Gold Eagles per year. That would be an increased reserve of over $2.2 BILLION in value in Georgia's banks -- and NO other state is offering this service in its banks!

To recap what we DESPERATELY NEED people to do:

* Contact. Sen. Hamrick at bill.hamrick@senate.ga.gov and ask him to please schedule a hearing SOON for SB 416, and tell him why it's important.

THANK YOU SO MUCH -- it's because of people like YOU, who are willing to take a couple of minutes of your valuable time to do something like this, that we have a GOOD SHOT at getting this bill moved through the General Assembly this year -- and even introduced in other states!

LET'S ROLL!

http://www.ConstitutionalTender.com/