Friday, July 23, 2010
Thursday, July 15, 2010
Local News Story: Competing currency being accepted across Mid-Michigan
These local news stories on competing gold & silver currency being accepted locally in Michigan were linked to from The Daily Paul:
Make sure you watch the short videos.
Part 1:
New types of money are popping up across Mid-Michigan and supporters say, it's not counterfeit, but rather a competing currency.
Right now, you can buy a meal or visit a chiropractor without using actual U.S. legal tender.
They sound like real money and look like real money. But you can't take them to the bank because they're not made at a government mint. They're made at private mints.
http://www.connectmidmichigan.com/news/story.aspx?id=481793
Part 2:
In part one of NBC25's special series "Competing Currencies," NBC25's Dan Armstrong showed how the government says any private business can accept or refuse any kind of payment.
In part two, Dan goes deeper, discovering why certain businesses say it's better to have private currency than actual U.S. legal tender.
There was a time in America when you could buy four gallons of gas for a dollar.
That dollar came in the form of a coin, around one ounce, made mostly of silver.
In today's market, that same coin is worth about 10 times its face value because of the silver.
Therefore, that same coin in theory, could still buy around four gallons of gas.
http://www.connectmidmichigan.com/news/story.aspx?id=482130
Make sure you watch the short videos.
Part 1:
New types of money are popping up across Mid-Michigan and supporters say, it's not counterfeit, but rather a competing currency.
Right now, you can buy a meal or visit a chiropractor without using actual U.S. legal tender.
They sound like real money and look like real money. But you can't take them to the bank because they're not made at a government mint. They're made at private mints.
http://www.connectmidmichigan.com/news/story.aspx?id=481793
Part 2:
In part one of NBC25's special series "Competing Currencies," NBC25's Dan Armstrong showed how the government says any private business can accept or refuse any kind of payment.
In part two, Dan goes deeper, discovering why certain businesses say it's better to have private currency than actual U.S. legal tender.
There was a time in America when you could buy four gallons of gas for a dollar.
That dollar came in the form of a coin, around one ounce, made mostly of silver.
In today's market, that same coin is worth about 10 times its face value because of the silver.
Therefore, that same coin in theory, could still buy around four gallons of gas.
http://www.connectmidmichigan.com/news/story.aspx?id=482130
Friday, July 2, 2010
Gold: The "New" Money
Gold: The "New" Money
by Paul Nathan
Ben Bernanke said in testimony in front of congress that he did not understand what was causing the gold price to go up. In fact he said he didn't understand gold. Larry Kudlow has been asking everyone on his program "what is causing the price of gold to move up?" The use of the term "gold standard" and "new reserve currency" has been used more in the last few months than in the last few decades. Perhaps that is the tip off...
My suggestion to Ron Paul and all those wanting to return to gold, is the best way to accomplish this is not by proclaiming your determination to replace the Federal Reserve Board with the gold standard, but to attack the legal tender laws of this country. I was one of the few back in the early 70's along with Ron Paul that fought for the legalization of gold to be allowed back into the American system. That was the first step in returning to the gold standard. Today is very much the same. The next step is to institutionalize competing monies.
The key is to go after the governments monopoly on money. If broken, gold will find it's way into the monetary system, as it is today, and reclaim it's superior role as long as it is not prevented from doing so. Legal tender laws do just that. They prevent choice.
Today, to be an advocate of a gold standard is to be laughed at and ridiculed as naive. But, to be against legal tender laws, wipes the snickers off the face of those against gold very quickly. To be against legal tender laws is to be for freedom of choice and against government coercion. You will not find the same chuckles from "intellectuals" when confronted with a proposal of this nature. On the contrary, you will find terror...
In my opinion the private market is in the process of developing a private competing money. No one can predict where this will lead us, but it is happening as we speak. We are seeing the emergence of gold ATMs whereby individuals can convert dollars for gold on demand. If those machine eventually are equipped to also accept gold for paper money, we will have the specter of convertibility on street corners everywhere.
"We are going to make gold public with these machines," said Thomas Geissler, CEO of Ex Oriente Lux AG, which owns “GOLD to go." Fifty thousand machines are being produced to be placed in countries all over the world. And retailers such as Sears and K-Mart have announced they will now be dealing in gold. Companies that buy gold are everywhere, and companies that sell gold are increasing. Convertibility is becoming an industry. This is a further sign of the establishment of the "new" private money.
How this will evolve, not even the market "knows". But it is obvious the market is telling us that there is a demand for gold as money. Will we start computing commodity prices, stock values, and possibly all prices in terms of gold as well as the dollar to know whether we have deflation or inflation and to what degree? Will credit card companies start pricing and translating purchases of goods and services in terms of dollars and gold as they do foreign currencies? Will financial institutions store gold as a new form of savings account, en masse? In a new world of modern technology there is no telling how gold will be used, but it is being explored by entrepreneurs world wide as we speak...
READ MORE...
Friday, June 25, 2010
10th Amendment Center uses Constitutional Tender Act as "Model Legislation"!
The Tenth Amendment Center has just released a TAC-approved suite of legislation - including the Constitutional Tender Act - that covers issues all over the political spectrum. Whether it's states standing up for your rights to your own health decisions or your right to grow what plant you want to, this legislation demands that states do their duty – and protect your rights from all comers. Pick one model act out – and urge your state politicians to introduce it next year. The time to act on that is now!
Wednesday, June 23, 2010
James Madison on Constitutional Tender
"The power to make any thing but gold and silver a tender in payment of debts, is withdrawn from the States, on the same principle with that of striking of paper currency." James Madison, Federalist, no. 44, 299--302
Read More: The Founders' Constitution
Monday, May 31, 2010
Idaho: Hart's Silver Gem Act held in Senate committee
Hart's Silver Gem Act held 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.
Wednesday, May 12, 2010
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.
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