Slowly but surely, monetary reform and the need to rein in the Federal Reserve is pushing into the American conscience. Forbes magazine contributor, Ralph Benko published an op-ed piece this week in which he claims that the next big political issue will be, as he puts it, following the “shrinking” money. He writes, “Americans feel their dollars shrinking. We don’t like it. And we are groping for a way to stop it.” Mr. Benko believes that this issue can re-unite the Republican Party by addressing common concerns of the Tea Party and establishment Republicans.Details
Let’s say for the moment that the Senate follows the House’s lead and calls for a full audit of the Federal Reserve. Let’s also dream that President Obama signs it. What are the consequences?
Rumors are, for decades the Federal Reserve has been engaged in the highest form of crony capitalism, big bank favoritism, purchase of politicians, nation building, and the bailout of foreign banks, corporations and governments. If this is found to be true, it will add to the growing awareness of the Federal Reserve’s other nefarious activities. These include the fact the Fed and its debt-based fiat monetary system is confiscating the wealth of this nation and concentrating it in the hands of a few powerful interests. Not to mention the Fed’s money printing which enables the TSA, NSA, EPA, FDA, NEA, and USDA to unconstitutionally regulate our liberties into oblivion. Indeed, an audit could be the tipping point, generating enough public outcry to finally “end the Fed.”
It begs the question, “What’s next?”
The Federal Reserve Note is the officially recognized currency of the land, having long ago usurped the constitutional dollar as our monetary unit. The Federal Reserve system, like it or not, is responsible for insuring the flow of credit and currency around the nation and the world. Should the decision be made to end the Fed, it would take years to unwind its tentacles from the global economy and to replace Federal Reserve Notes with another currency.Details
Liberty loving Missouri citizens, Senators, and Representatives continue to battle for sound money. House Bill 1637 (HB1637) states, in part: “The Missouri Sound Money Act of 2012 is established which changes the laws regarding legal tender as follows: (1) Specifies that gold and silver issued by the federal government is legal tender in Missouri;” After…Details
The fate of sound money in Missouri may be determined in a meeting tonight of Senate leadership.
In April, HB1637 passed the House by a 95 to 37 margin. Now however, the Missouri Senate is locked in a budget battle with the 2012 session slated to conclude on May 18. Despite the focus on budget issues, the bill passed the Senate Ways and Means Committee unanimously this morning.
HB1637 simply states: “The Missouri Sound Money Act of 2012 is established which changes the laws regarding legal tender as follows: (1) Specifies that gold and silver issued by the federal government is legal tender in Missouri;”
However, it seems as though Senate leadership may need some encouragement to let this “controversial” bill be heard this session. Urgent action is needed. If you live in the state of Missouri, please call and email Senate leadership, in particular Senator’s Tom Dempsey and Robert Mayer. It’s do or die time for constitutional tender in Missouri. NOW is the time to keep momentum on this vital issue spreading across our nation!
In 2011, Utah was the first state in over 80 years to pass a law making gold and silver coin legal tender. Its passage sparked articles in the New York Times, The Los Angeles Times, The Washington Post and a host of major internet news sources. After decades of obscurity, Utah’s historic measure put sound money back on the map. Not satisfied to rest on their laurels, Utah passed a companion bill in the 2012 session, and it was signed by Governor Herbert.
The bill clarifies several tax measures and more importantly, expands the available specie to include gold and silver coin approved by the state.
Gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, is considered to be specie legal tender and is legal tender in the state if:Details
Take seven minutes and listen to an excerpt from the debate on the sound money bill in Missouri. Rep. Paul Curtman explains the issue patiently to a fellow Representative who has a great deal to learn about economics and monetary policy.
On Thursday, HB1637, the Missouri Sound Money Act passed the House, making Missouri one of two states with a sound money still alive in 2012. South Carolina is the other, and is scheduled to vote on their bill next week. The bill simply adds gold and silver as legal tender alongside Federal Reserve notes, giving the citizens of Missouri a choice in currency:
“The Missouri Sound Money Act of 2012 is established which changes the laws regarding legal tender as follows: (1) Specifies that gold and silver issued by the federal government is legal tender in Missouri;”
It was not smooth sailing in the Show Me State. A significant number of representatives attended a press conference at the Governor’s mansion when the morning vote was held. Thus, the opposition erupted in celebration when they unexpectedly defeated the bill by a single vote, after which the morning session was immediately adjourned.
All was not lost. Representative Paul Curtman, the bill’s sponsor, worked a strategy to have the bill reconsidered in the afternoon session. While highly unusual, House Majority Leader Tim Jones asked Democratic Imperial Representative Tim Meadows to reconsider the bill in the afternoon session in light of the fact many members who were absent in the morning would likely return. Meadows agreed, and in the afternoon session the bill passed 95-37.
“Credibility is everything and when it comes down to it, my credibility is on the line here this day” Meadows said.
Representative Curtman had the understatement of the day stating, “It was a strange day on the floor. In the end though, nobody had a viable argument as to why it should be defeated.” A strange day indeed. After the bill’s passage, a Democratic Representative who strongly opposed the motion to reconsider had to be physically removed from the House chamber as he confronted a fellow Democrat who aided in allowing the bill a second vote.Details
Action Alert for Constitutional Tender!
Missouri House Bill 1637 (HB1637), the Missouri Sound Money Act, has been released from the Rules Committee and is scheduled for debate on the House floor this week. The bill states, in part:
Gold and silver issued by the federal government is legal tender in this state. A person shall not compel any other person to tender or accept gold and silver coins that are issued by the federal government, except for contractual obligations.
For those residing in Missouri, please send emails thanking the rules chair, John Deihl, and the floor leader, Tim Jones for putting it on the calendar. Then, contact your representative and ask them to support the bill with a “yes” vote.Details
On February 29th, Federal Reserve Chairman Ben Bernanke sat in front of his longtime nemesis, Rep. Ron Paul and testified on behalf of the Federal Reserve, attempting to justify the Fed’s monetary policy. During the testimony, congressman Paul did something unusual. He reached into his pocket and pulled out a United States minted silver eagle. He then informed Mr. Bernanke that when he took over as Chairman of the Federal Reserve in 2006 that silver “dollar” would buy 4 gallons of gasoline, while today it would buy 11 gallons. “That’s preservation of value” he informed the Chairman. He’s right, and this exchange underscores two reasons why it is critical for states to restore use of constitutional tender (gold and silver specie.)
First of all, to “preserve the value” of each citizen’s money. Mainstream media stories abound today predicting that gasoline will reach $6 per gallon this year. Combine that with an expectation that one ounce of silver is expected to rise to$50 per ounce during that same time period and you can see a trend developing – continued devaluation of the dollar, and continued preservation of purchasing power by sound money.
The second reason states need to restore constitutional tender is Dr. Paul’s warning that “the Fed is going to self destruct” when its policies lead to the eventual loss of control over the national currency – Federal Reserve Notes. When that happens, states that have not enacted sound money legislation will have no choice but to be subject to whatever the global banking establishment (IMF, BIS) decides the replacement will be. And if recent history is to be heeded (Greece anyone?), that means the loss of national sovereignty for any nation placed within its jurisdiction.Details