Although it is very encouraging that the House voted 327 to 98 to audit the Fed last month, it is virtually certain that the Senate will not concur this year. Moreover, it is virtually certain that Congress will not act to end or phase out the Fed any time soon.
So, what’s to be done about the impending destruction of our currency by the Federal Reserve’s ongoing expansion of the money supply. Since 2010 there has been a continuation of this rapid expansion of the money supply.
The preeminent expert on Constitutional money, Edwin Vieira, has a strategy for phasing out the use of Federal Reserve Notes through new state laws providing alternative currencies, which he has been promoting via interviews and videos for the past several years.
Basically, Vieira advocates that states start taking advantage of their sovereignty as guaranteed by the Tenth Amendment and their constitutional mandate under Article I, Section 10 not to “make anything but gold and silver coin a tender in payment of debts,” by passing laws providing alternative currencies in their states based on gold and silver. Continue Reading →