Posted on 06/10/2024 3:58:00 PM PDT by davikkm
So apparently the US Supreme Court has just given 40 US states the green light to begin issuing their own gold and silver-backed currencies.
Quote from the SC decision:
“The United States maintains a dual system of banking, made up of parallel federal and state banking systems. That dual system allows privately owned banks to choose whether to obtain a charter from the Federal Government or from a state government.”
www.supremecourt.gov/opinions/23pdf/22-529_1b7d.pdf
(Excerpt) Read more at citizenwatchreport.com ...
Why would they want to do that?
It will turn the state into Zimbabwe, but that's long-term thinking.
A number of states have established bullion repositories.
It may not really happen, but I think some of the mechanics of secession are being put in place.
so will it’s value float wi the price of gold???
Why? If you believe in American, right or wrong, rallying around the dollar is important. Balkanizing the country with state-issued currency is unAmerican and undermines the US.
The state currency would be pegged to gold. The conversion rate between the state currency and the FedRsrve fiat dollar would float.
“Why would they want to do that?”
So the states won’t have to collapse when the Fed Govt goes full Weimar.
I am certainly glad they didn’t list the forty states allowed to do this. That is dangerous information. Fortunately we have a lack of journalists that are anywhere near competent, so we are safe there.
> Why would they want to do that? <
I think at least the title is clickbait. The Constitution is clear. States cannot coin their own money. Article I, Section 10, Clause 1:
“No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.”
What the article is exactly referring to I’m not sure. I tried to read the whole thing, but it gave me a headache.
The United States maintains a dual system of banking..
If it maintains a dual system then this order just confirms it by stating the differences between the National and State banks and the powers of each.
Gee what could go wrong
But are they FDIC insured????????
Just buy gold or silver. Don’t trust any government to have the precious metals to back it.
It was done during the depression.
A five-dollar gold piece at today’s rate would be 1/465 of an ounce. I’m trying to visualize what that might look like...
Hmm....thought this was a bi=centenary or something.
Supply and demand seem to effect the price [value] of gold.
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