Posted on 12/31/2010 7:59:30 AM PST by cc2k
Georgia state Rep. Bobby Franklin (R) has sponsored legislation to force the state to conduct all monetary transactions with U.S. gold or silver coins.
The "Constitutional Tender Act" argues that the Constitution "'provides that no state shall 'make any Thing but gold and silver Coin a Tender in Payment of Debts.'"
(Excerpt) Read more at tpmdc.talkingpointsmemo.com ...
It will go nowhere so long as the Federal Reserve Note (or is that Federal Reserve Accounting Unit Dollar aka FRAUD) retains some value. However, the list of fiat currencies currently in use that are over 200 years old is short (name one if you think you can). They always collapse to zero value. The FRAUD will not be the first to make it to 200 years of age.
When the monetary collapse comes, it will be important for the individual States to define the new legal tender. That event will be an opportunity for states to reestablish sovereignty in this area.
I'm not saying this is the only solution (or necessarily the best solution), but this is one area where the states have given up an immense amount of sovereignty over the last century. It's also a foreseeable event that states should prepare for. This is like an insurance policy. If the FRN goes bad, Georgia at least has a bill in the hopper to move to something else.
I'll be taking the text of this proposal to a meeting with my Florida House representative in early January. My request will be, Get it in the hopper. It doesn't have to go anywhere right now, but it's better to have a well thought out plan in advance than to respond in a panic when bad things happen.
So I wonder how much gold and silver this guy owns.
And with precious metals of all kinds, the values can fluctuate quite a bit. How do you peg their value, when it changes that much on a daily basis?
enough to pay his own tax biils in gold, just to show the way
So if I understand this right it means if I have a $200.00 property tax bill, I would have to pay it with 200 silver dollars? Not freaking likely!!!
Proving not all nuts are found under trees.
I do not think we will have an monetary collapse as in one day we wake up and the dollar has no value and all the states will have to start issuing their own legal tender.
The powers that be will be ahead of that legal tender game and will transition or morph the current fiat monetary system (dollar) to a new fiat monetary system probably tied to the EURO.
Far too much wealth and power at stake to let that all slip away to individual states.
States don't issue FRNs.
Excellent idea, if your intention is to transfer wealth to people who sell gold and silver.
The fiat (FRAUD) value of a silver dollar is $1, but the intrinsic silver value as of this moment is $23.86, so it would only require 10, and you should receive change.
The ruling class realized a long time ago that they can manipulate and control worthless paper by declaring it “legal tender” and by forcing people to take it.
Worthless paper starts out at some arbitrary value and always goes down from there. Savings and investments are denominated in terms of worthless paper, and so savings and investments always go down in value. Always.
This doesn’t bother the ruling class which has created laws that adjust their pay and pensions for the declining value of worthless paper.
It’s only the poor working slobs who work and pay and work and pay and discover that their worthless paper is worth nothing.
I understand that, but that is not what it sounds like is being proposed.
There are always people around who confuse “tax” with “debt”. No, taxes aren’t debts. You didn’t voluntarily contract for them anyway.
The value of money increased dramatically!
1 grain = 0.0648 grams
1 gram = 15.432 grains
Today's price of gold per gram... 
1 gram gold bar $45.14
Gold gram bar calculations use the closing gold price for December 30, 2010: Gold $1404.10/oz 7.90
How many $/hr would you work for if gold and silver were still legal tender?
1 gram = 15.432 grains
15.432 * 4 = 61.728 grains (approx 4 grams)
4 grams * 45.14 = 180.56
$2.50 (then) = $180.56 (now)
Somebody please correct my math if it's wrong.
That's not what the proposal says.
Gadsden1st wrote:
So if I understand this right it means if I have a $200.00 property tax bill, I would have to pay it with 200 silver dollars? Not freaking likely!!!
The actual text of Georgia HB 430 - Constitutional Tender Act pegs the value of silver eagles, gold eagles and 90% silver coin to the London Exchange. If you own $200, you could pay with gold or silver valued at $200 at today's price.
This is a long term weakness in the event of a monetary crisis. However, having things in place before hand would make it possible for Georgia (or any state that adopts this type of measure) to demand that Congress do its constitutional duty and regulate the value of coins (actual gold and silver coins).
Back when I lived in Georgia, I discussed this with my own state rep and state Senator, and I also met the sponsor of this measure and asked him some questions. One possibility mentioned was that the state could revert everything to the last "constitutional valuation" from the 1960's. Not only would your tax bill be in 1960's (gold and silver based) dollars, but your property assesment valuation would be in those terms as well.
I also question how ceding the responsibility for "regluating the value thereof" to the London exhange was a "constitutionally correct" move for a state. I didn't get anything that sounded like an answer to that question.
I fear that your scenario is more likely. Still, if enough of the states can act and reclaim some sovereignty, perhaps a ceding of our national sovereignty to the international bankers could be avoided. It is something that needs to be debated, and something that TEA Partiers and patriots should be discussing with their representatives.
Popman wrote:
The powers that be will be ahead of that legal tender game and will transition or morph the current fiat monetary system (dollar) to a new fiat monetary system probably tied to the EURO.
Far too much wealth and power at stake to let that all slip away to individual states.
No, they are issued by a private bank. There is nothing in the constitution which allows for this.
Toddsterpatriot wrote:
States don't issue FRNs.
Actually, there is nothing in the constitution which gives the Federal Congress any power to declare anything legal tender. That power is mentioned as a power of the states, and restricted to only gold and silver coinage. Nowhere in Article 1 Section 8 does it mention the Congress having the power to make anything legal tender. The framers of the constitution clearly understood that power existed. They did not explicitly give it to the Federal Congress and they put restrictions on how states could exercise that power.
By the 10th amendment, this is one of the powers that should be reserved to the states exclusively.
Again, I don't necessarily think this proposal by Georgia Rep Bobby Franklin is perfect. But it is time to start having an adult convesation with our state reps about the FRN, the constitution and what states can and should do to regain some of their constitutional powers that have been usurped by the Congress and the courts.
No they aren't.
There is nothing in the constitution which allows for this.
The Constitution prevents states from issuing their own money, unless that money is gold or silver. Since the Federal government issues FRNs, they're Constitutional.
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
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