Careful, pal. You don’t know what kind of cows I’m raising. Some of them are downright unfriendly.
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 ...
> I don’t know about you but I would take just about anything Texas starts issuing over FRNs <
I totally agree. My beef would be that if a state requires (not allows, but requires) gold or silver to be accepted as a medium of exchange.
Let’s say I’m selling a washing machine for $500. And I don’t want to fuss around with $500 worth of silver. I want five $100 bills. That option should be available to me.
Please see my post #78. If I’m wrong there (and I well could be) a correction would be appreciated.
GMTA
Right. All the bond holders will be screwed, not the Federal Reserve Banks.
I would immediately accept your CowBucks.
Those aren't convertible.
The Founders created a central bank.
Careful, pal. You don’t know what kind of cows I’m raising. Some of them are downright unfriendly.
bkmk
yup, junk silver is the way to go...
To have a currency that is not able to be printed and devalued by Joe Biden .
Yup, apx 17 cents for a gallon of gas right now at melt value. It's been a long time since you couldn't buy a gallon of gas a quarter, too. Strange how real money works.
No they did not. Hamilton did and it lasted 20 years.
Lincoln created a national currency in 1863
The Fed was created in 1913 as the US central bank. The republic was dead, but people still think it lives. Erroneously.
US Supreme Court allows 40 states to issue their own gold and silver-backed currencies...
Scotus found that, "In analyzing the New York interest-on-escrow law at issue here, the Court of Appeals did not conduct that kind of nuanced comparative analysis" that was required.
Scotus did not reverse the lower court. It vacated the decision of the Circuit Court, and remanded the case to that Court for further proceedings to conduct the required analysis.
The writer should read the ending of the Opinion of the Court. In Cantero, BoA did not pay interest on funds it required Plaintiff to deposit in an escrow account for payments for insurance premiums and property taxes. New York law required BoA pay said interest. BoA said they did not have to, claiming New York law was pre-empted by Federal law.
Because the Court of Appeals did not analyze preemption in a manner consistent with Dodd-Frank and Barnett Bank, we vacate the judgment of the Court of Appeals and remand the case for further proceedings consistent with this opinion.It is so ordered.
As for the issue of "US Supreme Court allows 40 states to issue their own gold and silver-backed currencies," no such issue was before the Supreme Court, and no such issue was ruled upon.
“Think of jingling those little guys in your pocket...”
Many years ago when I was a very little boy, my Grandmother sewed all of the front pockets of my pants closed. She said I was always doing what you suggest we think about now.
Here is a link to a website that explains exactly how this would work and why it is such a great idea.
https://transactionalgold.com/
LOL!!! what a concept...
yup, i bought 3-$100facevalue bags of dimes, quarters, and half’s from J.M.Bullion when it was ~$14.50-$15.50
i think/hope it finally broke out
This case and ruling have nothing at all to do with states establishing their own currencies. It’s about whether federal banking laws preempt state laws. Specifically, it’s about whether a nationally chartered bank has to pay interest to New York mortgage customers for the money in their escrow accounts as dictated by state law. Very misleading post.
When did Hamilton do that?
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