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Joined: Dec 1999
Posts: 30,867
Master Elite Member
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Phase Out the Fed With State
Sound Money Laws
Although it is very encouraging
that the House voted 327 to 98 to audit the Fed last
month, it is virtually certain that the Senate will not concur
this year. Moreover, it is virtually certain that Congress will not
act to end or phase out the Fed any time soon.
 So, what's to be done about the
impending destruction of our currency by the Federal Reserve's
ongoing expansion of the money supply. See the graphic at left
showing the huge increase in the money supply under the Federal
Reserve vs. the dramatic decline in buying power of the dollar from
1959 to 2010 (Graphic by Michael Hodges, Grandfather Economic
Reports). Since 2010 there has been a continuation of this rapid
expansion of the money supply.
The preeminent expert on
Constitutional money, Edwin Vieira, has a strategy for phasing out
the use of Federal Reserve Notes through new state laws providing
alternative currencies, which he has been promoting via interviews and videos for the past several
years..
Basically, Vieira advocates that states start taking
advantage of their sovereignty as guaranteed by the Tenth Amendment
and their constitutional mandate under Article I, Section 10 not to
"make anything but gold and silver coin a tender in payment of
debts," by passing laws providing alternative currencies in their
states based on gold and silver.
 A good way to understand Vieira's
strategy is to view the video, "What Is Constitutional Money?",
shown at left, which consists of a lecture he gave last November in
Washington, DC, sponsored by Congressman Ron Paul. Be sure to view
all the way to the end of the question-and-answer period to get the
whole story.
Since 2005 at least fourteen states have introduced
bills to provide for the establishment of alternative currencies
based on gold and silver: Colorado, Georgia, Idaho, Indiana, Iowa,
Minnesota, Missouri, Montana, New Hampshire, South Carolina,
Tennessee, Utah, Virginia, and Washington.
The only state to pass its alternative
currency bill and get the governor's signature was Utah in 2011.
Utah's bill, HB317, provides a model bill for other states to
consider introducing. Although Georgia didn't pass its alternative
currency bill, HB3, in the 2011-12 session, its bill also
provides another good model bill for other states to consider. While
the Utah bill is stronger in its attention to the tax treatment of
silver and gold money, the Georgia bill is stronger in its attention
to the valuation of silver and gold money and in its requirement
that state debts be paid in gold and silver.
Vieira
emphasizes in the above video that his recommendation for creating
state-based alternative currencies is not a "solution" to the
destruction of our currency by the Fed, but that he believes these
alternative currencies are the only "practical direction" for
mitigating the bad effects of this destruction, and that they would
provide a "floor" under the damage.
If you agree with the
above alternative currencies strategy, please contact your state representative(s)
and senator and ask them to introduce or cosponsor an
alternative currency bill similar to Utah's or Georgia's or a blend
of the two in the 2013 legislative
session.
Thanks.
Your Friends at The John Birch
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