US Supreme Court allows 40 states to issue their own gold and silver-backed currencies, endorsing dual banking systems.

Citizen Watch Report ^

[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

[Qwapisking]

more appropriately...why WOULDN’T they want to do that? the Federal government has been taken over by those who absolutely HATE the Freedoms afforded by our Constitution and Bill of Rights as written so for literally DECADES they have lied, cheated, stolen, abrogated and obfuscated the truth that Our Founding Fathers tried to impart to us that would ultimately protect the typical American citizen from financial ruin. “What you do now lays the foundation for what happens to you next” is as true now as it ever was. saying by L.Star.

[Lazamataz]

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.

I don't think it is Balkanization at all. I think it merely provides a choice, and I like the ability to choose.

Besides, you could make the same argument about BitCoin and other cryptocurrencies, and they have done nothing like Balkanizing our country.

[Lazamataz]

“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.”

If the coinage is gold or silver, they still are compliant.

[Lazamataz]

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...

Simple solution: make it a gold alloy.

[Fai Mao]

The US died in the first week of November 2020. We are living in the rotting corpse of a once great nation.

[MV=PY]

The bottom line is: what currency is used to pay taxes.

Anything else is a proxy.

[Brilliant]

If you read the opinion, you see that issue was not even mentioned. The author is simply gaslighting.

[Billthedrill]

Too easy. I demand pure gold! Think of jingling those little guys in your pocket...

[Justa]

There’s no way the Fed Res Banks want to get stuck with their 40T debt.

[Brilliant]

They don’t. The article is nonsense. The case did not say that at all. The Constitution expressly gives that power to Congress and there are already cases on the books that hold that Congress has the exclusive power to issue money.

[Harmless Teddy Bear]

Just make it of silver.

And don't put dead presidents on it. Make them pretty like coins used to be.

People used to use coins as jewelry because they were works of art.

[outofsalt]

A bigger share than Elizabeth Warren's. According to Warren’s own DNA test, she had at best, 1/64th Native American ancestry, but it could also be as low as 1/1,024.

[FoxInSocks]

make any Thing but gold and silver Coin a Tender in Payment of Debts

Maybe they’re looking at this clause. I didn’t read the whole thing either, but it’s referring to gold-backed securities or something.

[SteveH]

with state bank franchises allowed to print their own gold based bank notes, oil import payments could theoretically be paid in gold-backed state franchised bank notes instead of FRNs which are backed by “the full faith and credit of the swaUnited States.” Texas could join BRICS. Other states could follow Texas. Eventually FRNs and holdout states would be priced out of the oil market by galloping federal inflation reflected in declining power of FRNs to buy oil and other commodities and services. Texas and other states would then be financially pressured to secede. Either that or Texans and other state citizens could be compelled to swap Texas bank notes for FRNs or equivalent. Perhaps that could be accomplished by passing new digital currency laws. The laws would need to passed over the objections of states somehow. Maybe emergency laws could be passed via a wag-the-dog incident, such as a world war or a new virus.

[PubliusMM]

Ding! Ding! Ding!
We have a winner!
ClearCase-guy nailed it!

[hinckley buzzard]

“Make anything but gold and silver coin a tender in payment of debts.” In the 1800s following gold strikes, California issued gold coin. You can buy them from a coin auction if you’re interested; but they were legal money in their day. Probably still are.

[packagingguy]

The Constitution only allows for states to issue gold and silver currency.

Why was this even in court in the first place?

[Harmless Teddy Bear]

Yep. They were legally considered promissory notes or "Script". Companies used to issue them as well. I do seem to remember that banks used to print their own script which is why we call bills "bank notes" but I do not feel like looking it up right now so take it with a grain of salt.

[Lazamataz]

Just make it of silver. And don't put dead presidents on it. Make them pretty like coins used to be.

Porn stars.

Definitely porn stars.

[Chode]

OK i knew one of them had to