Competing currencies at the state level?

[Elwar]

Here in Florida we have had a Republican takeover with a supermajority in the state House and the Senate and have a Republican governor. Plus the state has a voter amendment process that could get it passed.

Could a competing currency bill be passed at the state level?

I recall a Free Stater in New Hampshire getting a bill proposed that allowed for state fees and taxes to be paid with silver or gold.

I was thinking that it could be a choice of the legislature of at least 10 different currencies. I would say commodity backed currencies, but down the road algorithm based currencies might be the better way to go. Though there would have to be something where the central bank wouldn't step in and tell the state "ok, just use all of these national currencies".

If a state were to do this, they might become a leading hub for finances. Maybe even add into the law that the currency must be run in-state.

Can we hash something out and have something we can propose to our state congressmen (or to our in-forum Congressman)?

[BuddyRey]

Hey Glen, are you listening? This might be a good bill to introduce in the NC legislature! :)

[Elwar]

Here's something they worked on in Idaho this past year:
"HB 633 “The Idaho Gem Act” was introduced. This Act provides for the State Treasurer to accept an Idaho manufactured silver medallion and bar for the payment of fees and taxes. The Act mandates the State Treasurer to sell Idaho silver medallions and bars to the public at their market value tied to the daily market price of the U.S. Mint’s one troy, bullion style, silver American Eagle. This silver American Eagle will also be accepted by the Treasurer for the payment of fees and taxes."

YouTube - Silver Shines as an Economic Solution (http://www.youtube.com/watch?v=1sI01CwhLEk)

[erowe1]

It's definitely one of the options in the mix. A number of state legislatures in recent years have had honest money acts introduced.
The 10th Amendment Center has an example in its model legislation section:
http://www.tenthamendmentcenter.com/legislation/constitutional-tender/

Here's a site about the attempt we made at it here in Indiana a year or so ago:
http://www.indianahonestmoney.com/index.php?option=com_content&view=article&id=67:indiana-honest-money-act-introduced-sb-453&catid=37:ihma&Itemid=53

[nobody's_hero]

www.constitutionaltender.com (Appears that it hasn't been updated for a while, unfortunately)

The only 'competing currency' allowed by the Constitution for the states to make legal tender in payment of debts, is either gold or silver.

We Georgians brought this up in committee last year, but it didn't go anywhere.

YouTube - HB 430: Constitutional Tender Act - Bobby Franklin (http://www.youtube.com/watch?v=_u3B2KbVWto)

Looking at the prices of gold/silver now versus this time last year, it appears as though the states shouldn't keep putting off their obligation to follow the U.S. Constitution.

Perhaps if you remind state legislators that even THEY are not immune from the effects of inflation, it might drive the point home:

If you have a state budget of $8 Billion (for example), and the next year, the purchasing power of that $8 Billion drops to say, $7.7 billion, what are your choices as a state legislator?

A) Raise taxes
B) Cut 'services' or
C) Issue bonds (which must eventually be paid back by either using choice A, or by making tough decisions with choice B)

Essentially, state legislators are being forced to sacrifice themselves at the expense of a Federal Reserve system that acts on its own will and is accountable to no one.

[FrankRep]

Model Legislation:

Constitutional Tender Act (http://www.tenthamendmentcenter.com/legislation/constitutional-tender/)


The United States Constitution declares, in Article I, Section 10, “No State shall… make any Thing but gold and silver Coin a Tender in Payment of Debts.” Constitutional Tender laws seek to nullify federal legal tender laws in the state by authorizing payment in gold and silver or a paper note backed 100% by gold or silver


Current Progress:
http://www.tenthamendmentcenter.com/nullification/constitutional-tender/

[GunnyFreedom]

Hey Glen, are you listening? This might be a good bill to introduce in the NC legislature! :)

I'm always listening. ;)

There is so much stuff I want to do up front, I really really need to get ahold of someone who thinks like us, knows NC State Law, and can help draft legislation.

[nobody's_hero]

I'm always listening. ;)

There is so much stuff I want to do up front, I really really need to get ahold of someone who thinks like us, knows NC State Law, and can help draft legislation.

Look up a Dr. Edwin Vieira, Jr. I'm sure he would be happy to help you, as a state legislator, draft legislation for NC and answer questions that you or your fellow legislators may have. (Unfortunately, isn't NC home to Bank of America? Expect heavy opposition from the lobbyists, even though the fools don't know that the entire banking system is going to drag them down with it when it eventually collapses)

Here's another site to check out for ideas for legislation (you'll find that most of these 'honest money' bills are similar):

http://www.goldmoneybill.org/

[Stary Hickory]

Gunny if you can get your state on a alternate currency it will go along ways to protecting North Carolinians from serious currency problems down the road. The first to abandon ship and hedge themselves will be best protected against currency devaluations. If North Carolina was to have an active alternate currency(backed by Gold, Silver, or other metals) then they would be much much better off to the extent they utilize the alternate currency.

I really think states, states rights, and people willing to stand up to Washington are the things that will really change things for the better.

[profg]

@nobody's_hero - I run the ConstitutionalTender.com website and wrote the original ConTen Act bill, and the site is only updated as things change. For example, some of the FAQ has been added to; the model legislation has been modified, to fit the modified legislation that will be re-introduced here in Georgia in the upcoming session; and the Blog is regularly updated as well.

I encourage folks to take a look at the website, and especially click on the Model Legislation - all you have to do is fill in the blanks for your State, and get a legislator to introduce it. Then get the grassroots to burn up the phone lines, fax machines and email servers! :)

We're going to be busy here in GA getting a number of different Sound Money bills written and introduced - I hope the rest of the country follows suit, before it's too late!

Bill Greene
http://www.ConstitutionalTender.com/

[erowe1]

Look up a Dr. Edwin Vieira, Jr. I'm sure he would be happy to help you, as a state legislator, draft legislation for NC and answer questions that you or your fellow legislators may have. (Unfortunately, isn't NC home to Bank of America? Expect heavy opposition from the lobbyists, even though the fools don't know that the entire banking system is going to drag them down with it when it eventually collapses)

Here's another site to check out for ideas for legislation (you'll find that most of these 'honest money' bills are similar):

http://www.goldmoneybill.org/

He helped with the Indiana one too.

I can also probably help get Gunny or other people who want to work on something like this in touch with other people who were highly involved in that project.