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.
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/
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.
As long as these state currencies are bak by ACTUAL gold and silver, this is a good thing. But remember, JFK had signed an EO to dismantle the Federal Reserve and we all know how that turned out for JFK. Upon taking office, President Johnson immediately reversed it.
How did the Supreme Court get the authority to do that sounds fake.
Say what?