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Pauls' Revere
08-27-2008, 11:05 PM
Article 1 section 8 gives The Congress the power to coin money.
Article 1 sec 10 allows states to coin gold and silver coins as tender in payment of debts.

Question 1) What are the odds we can get a state to start to make gold and silver coins as payment of debts and should we be working on doing this?

Question 2) Since some municipalities have/are printing forms of money could we (RonPaulR3lovution) set up our own corporation or legal entity and start to print up our own money?

Question 3) Is question 2 legal?

I have put some thought to this and wondered if we could or should look further into this. We all could purchase stocks in the corporation titled The Campaign For Liberty or similar aspect. This corporation aka The CFL then purchases gold and prints its own money. I realize there were Ron Paul Liberty Dollars around but I dont know the history behind that venture. Essentially would we set up our own bank? Any Thoughts?

Truth Warrior
08-28-2008, 04:29 AM
I'll give you a FRN for ALL of them. :D

newyearsrevolution08
08-28-2008, 04:34 AM
I thought you could do this as long as you at least offer the option to pay with the greenback as well. Not to take over the currency but along side it.

Couldn't the businesses make this happen by accepting other forms of payment versus people actually trying to go about printing or making their own money?

Ie we as businesses accept silver and gold as payment while still allowing payment in greenbacks as well.

백조씨
08-28-2008, 06:21 AM
I thought you could do this as long as you at least offer the option to pay with the greenback as well. Not to take over the currency but along side it.

Couldn't the businesses make this happen by accepting other forms of payment versus people actually trying to go about printing or making their own money?

Ie we as businesses accept silver and gold as payment while still allowing payment in greenbacks as well.

Please if you coin your own money, which I support, PLEASE for GOD'S sake don't put DOLLAR or any other such thing on it.

A coin with a nice picture on one side and it's official weight and some sort of regulatory agency number would be FINE.

DON'T PUT THE WORDS : MONEY or DOLLAR or $$ on it.

Pauls' Revere
08-28-2008, 11:06 PM
I thought you could do this as long as you at least offer the option to pay with the greenback as well. Not to take over the currency but along side it.

Couldn't the businesses make this happen by accepting other forms of payment versus people actually trying to go about printing or making their own money?

Ie we as businesses accept silver and gold as payment while still allowing payment in greenbacks as well.

This is what I'm gettin at. Businesses take Visa (credit money), cash, checks etc.. as different forms of a singular type the greenback. Ron Paul has discussed competing currencies and I'm wondering how we can go about that. Not necessarily with gold or silver coin but could we print up our own "Goldbacks" if you will?

jkr
08-29-2008, 07:29 AM
this reminds me of the revolution and payment by specie only...any downside?

i dont have & cant get much real currency right now.

Pauls' Revere
08-30-2008, 12:03 AM
this reminds me of the revolution and payment by specie only...any downside?

i dont have & cant get much real currency right now.

You just taught me what the specie is:
http://en.wikipedia.org/wiki/Specie_Payment_Resumption_Act
WOW!

Legal Def:
http://legal-dictionary.thefreedictionary.com/Specie+payment

The Specie Resumption Act was a triumph for the "hard money" forces over the "soft money" advocates during the second Grant administration.

The United States government had issued $450 million in greenbacks during the Civil War. These paper notes were not backed by specie (gold or silver) and maintained value only through trust in the government.

After the war the debtor elements, desiring inflation, wanted the greenbacks to remain in circulation and for new notes to be issued. Conservative forces, abhorring inflation, opposed these schemes and wanted all paper currency to be backed by gold.

In January 1875 Congress passed the Resumption Act, which provided:


That the U.S. Treasury be prepared to resume the redemption of legal tender notes in specie (gold) as of January 1, 1879
That gradual steps be taken to reduce the number of greenbacks in circulation
That all "paper coins" (notes with denominations less than one dollar) be removed from circulation and be replaced with silver coins.
Despite opposition from the Greenback Party, specie payments were resumed on the appointed date. The dire predictions of citizens storming the banks to demand gold for the greenbacks never occurred. As 1879 approached, the government prudently increased its specie reserves and the public became convinced that their paper notes were "as good as gold."

I seriously think the CFL needs to open an economic front to this R3volution that is start finding ways to create a competing currency.

:)

Pauls' Revere
08-30-2008, 12:13 AM
Resumption Of Specie Act- 1875
An act to provide for the resumption of specie payments

Be it enacted . . ., That the Secretary of the Treasury is hereby authorized and required, as rapidly as practicable, to cause to be coined at the mints of the United States, silver coins of the denominations of ten, twenty-five, and fifty cents, of standard value, and to issue them in redemption of an equal number and amount of fractional currency of similar denominations, or, at his discretion, he may issue such silver coins through the mints, the sub treasuries, public depositories, and post offices of the United States; and, upon such issue, he is hereby authorized and required to redeem an equal amount of such fractional currency, until the whole amount of such fractional currency outstanding shall be redeemed.
SECT 2. That so much of section... [3524] . . . of the Revised Statutes of the United States as provides for a charge of one-fifth of one per centum for converting standard gold bullion into coin is hereby repealed, and hereafter no charge shall be made for that service.
SECT 3. That section . . . [5I77] . . . of the Revised Statutes of the United States, limiting the aggregate amount of circulating notes of rational banking-associations, be, and is hereby, repealed; and each existing banking association may increase its circulating notes in accordance with existing law without respect to said aggregate limit; and new banking associations may be organized in accordance with existing law without respect to said aggregate limit; and the provisions of law for the withdrawal and redistribution of national bank currency among the several States and Territories are hereby repealed. And whenever, and so often, as circulating-notes shall be issued to any such banking-association, so increasing its capital or circulating-notes, or so newly organized as aforesaid, it shall be the duty of the Secretary of the Treasury to redeem the legal-tender United States notes in excess only of three hundred million of dollars, to the amount of eighty per centum of the sum of national-bank notes so issued to any such banking-association as aforesaid, and to continue such redemption as such circulating notes are issued until there shall be outstanding the sum of three hundred million dollars of such legal-tender United States notes, and no more. And on
and after. . . [January I, I879]. . ., the Secretary of the Treasury shall redeem, in coin, the United States legal-tender notes then outstanding on their presentation for redemption, at the office of the assistant treasurer of the United States in the city of New York, in sums of not less than fifty dollars. And to enable the Secretary of the Treasury to prepare and provide for the redemption in this act authorized or required, he is authorized to use any surplus revenues, from time to time, in the Treasury not otherwise appropriated, and to issue, sell, and dispose of, at not less than par, in coin, either of the descriptions of bonds of the United States described in the . . . [Funding Act of July I4, I870] . . ., with like qualities, privileges, and exemptions, to the extent necessary to carry this act into full effect, and to use the proceeds thereof for the purposes aforesaid....

Pauls' Revere
10-12-2008, 03:51 PM
Would Ron Paul back a resurgence in the resumption act?