Wednesday, February 1, 2012

Washington State Considers Gold and Silver as Legal Tender

by Alex Newman                                                                                 From: TheNewAmerican.com

In an effort to protect the property of citizens from the harmful effects of inflation created by the Federal Reserve, lawmakers in Washington State introduced a bill over the weekend to declare gold and silver legal tender within the state. Sound-money advocates across the nation immediately praised the effort.

Citing several provisions of the U.S. Constitution and various rulings by the U.S. Supreme Court, the legislation notes that only gold and silver are to be considered legal tender by the states. The bill also blasts the federal government for imposing an unconstitutional monetary system on the states and for unjustly confiscating citizens’ wealth by allowing the Fed to create money.

The legislation seeks to offer the people of Washington an opportunity to use constitutional money instead of the ever-depreciating paper currency issued by the American central bank, lawmakers who sponsored the bill told The New American. However, no one would be forced to accept gold or silver as payment.

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6 comments:

  1. As a resident of Washington I am proud to see my state try to take this action. I can only hope that it passes.

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  2. so the politburo & the rich own all the gold . wat happens 2 all the people with paper money ? now u have 2 pay their price 4 gold 2 buy anything in washington state .

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  3. Simply exchange your fiat dollars for silver ( you can buy silver american eagle coins on amazon, they are $33.00 an ounce right now) and for U.S. coins minted before 1964,( Buy a roll of coins at the bank)

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  4. Gold & Silver Bullion Now Illegal for ALL US Residents, in case anyone here missed that. Any held in a safe deposit box can be confiscated.
    See: The Gold Confiscation Of April 5, 1933.
    Research a lot; There is a lot to face, if we are truly a freedom loving republic.

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    1. Research yourself... that law was changed years ago

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  5. Interesting move by Washington State and I definitely understand people's desire to retain their purchasing power against a continually debased fiat currency. But gold and silver standards have never worked in the past and they will never work in the future. Having said that there's no reason not to purchase gold as a wealth reserve asset par excellence.

    http://fofoa.blogspot.com/2010/07/gold-ultimate-wealth-consolidator.html

    ...And the confiscation card has been played twice by the US, it can't and won't be played a third time. See below for the article written by FOFOA which explains the reasoning behind this.

    http://fofoa.blogspot.com/2009/08/confiscation-anatomy-different-view.html

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G. Edward Griffin on the Federal Reserve