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.

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Ye Olde Specie | Idaho silver-based currency bills might have failed, but the 'sound money' movement marches on | Innovation | Boise Weekly

Ye Olde Specie | Idaho silver-based currency bills might have failed, but the 'sound money' movement marches on | Innovation | Boise Weekly

On a sunny Monday in January, Reps. Phil Hart and Lenore Hardy Barrett stood on the Idaho Capitol steps and introduced a crowd of Tea Partiers to two pieces of legislation that would have remade the state's economic landscape.

The Idaho Silver Gem Act, fronted by Hart, an Athol Republican, proposed that Idaho citizens ought to be able to pay their taxes with special medallions or bars struck from silver mined in North Idaho's Silver Valley--part of Hart's home district.

The Idaho Constitutional Tender Act, introduced by Barrett, a Republican from Challis, went even further. It sought to make silver and gold--both in physical coins and electronic ounces drawn from an online exchange--just as valid as Federal Reserve notes for the purchase of everything from groceries to new cars to property.

With similar bills floated in at least seven states, Tea Partiers chanting "end the fed" and the Idaho Republican Party adding "sound money" to its platform in 2008, the gold (or silver) standard may be making a comeback.

Read more...

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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.

Constitutional Tender Paper Being Presented At Mises Institute

I will be presenting a paper on the Constitutional Tender Act at the Mises Institute's "Austrian Scholars Conference" this weekend. The title of the paper is "Ending the Federal Reserve From the Bottom Up: Re-introducing Competitive Currency by State Adherence to Article I, Section 10." Following the Conference, I'll be posting the paper for download, and will put up a notice here on how to get it.

For information on the Conference, including speakers, schedule, topics, lodging, directions, and more, go to http://mises.org/events/114. I'd love to see you there!

Bill Greene