North Carolina Bullion, Coin, and Shot as Legal State Tender Act of 2011

[GunnyFreedom]

DRAFT RESOLUTION FOR DISCUSSION AND COLLABORATION

NORTH CAROLINA BULLION, COIN, AND SHOT TENDER ACT OF 2011

§ 1 Definitions
§1(A) Gold Material - All bullion, coin, shot, or bulk material (not to include formed clothing jewelry and artwork) in 22k and 24k gold in exchange by mass of elemental Au

§1(B) Silver Material - All bullion, coin, shot, or bulk material (not to include formed clothing jewelry and artwork) from .90 and .999 purity in exchange by mass of elemental Ag

§1(C) Registered Specie - (see MT/UT listing and process. Allow new specie to register upon certification ie: KITCO bullion)

§1(D) State Money - Any Tender Silver, Tender Gold, or Registered Specie

§1(E) Federal Money - Federal Reserve Notes and US Dollar Currency and Certificates.
§ 2 Use As Tender Authorized
TENDER ALLOWED: State Money shall be considered legal tender within the State of North Carolina. The purchase or exchange of State Money shall not be taxed.
§ 3 Exchange with US Dollars
§3(A) Exchanging State Money for US Dollars
1. State Money may be exchanged to the NC State Treasury for US Dollars, or to a private enterprise that will provide the service at the defined exchange rate.
2. Assessing of handling fees is allowed for private exchanges.
§3(B) Exchanging US Dollars For State Money
1. The NC State Treasury will to it's best ability in the market of supply and demand, produce State Money in exchange for US Dollars.
1a. This activity may be franchised to the private market for a license/fee/something

1b. The release of State Money in exchange for US Dollars will be considered for Intrastate commercial purposes, and restrictions may be placed on it's export.
§3(C) Vendor Exchanges
1. US Dollars may be rendered at the exchange rate in change for purchases made in State Money by sellers if agreed to by both the buyer and the seller.
§3(D) Vendor Acceptance
1. This act shall not compel any seller to accept Registered Specie or State Money, except as agreed to beforehand by contract.

2. Vendors may elect to only accept Registered Specie in lieu of State Money or Federal Money.

3. Retirement Investment plans and 401k etc may only accept registered specie. &c (See "taxation" below) or Federal Money.
§ 3.1 Exchange rate is the Current Median of 168- by 24-hour Moving Average Spot Price.

§ 4 Taxation. (copied from Utah Bill, unadjusted for NC Statute)
59-28-601. Capital Gains Tax Inapplicable. In no case shall the acquisition, sale or use of Registered Specie within the course and scope of Utah Intrastate Commerce subject any Utah Taxpayer to any tax liability whatsoever for any actual or alleged gain realized from fluctuations in the exchange rate between Registered Specie and any other currency, medium of exchange or legal tender.

59-28-602. Sales/Use Tax Exemptions. As provided in U.C.A. § 59-12-104(50)-(51), no sales or use taxes shall apply to the the sale or purchase of Registered Specie within the course and scope of Utah Intrastate Commerce. Moreover, no sales tax shall be assessed on transactions between or among Utah Intrastate Commerce Cooperatives and Utah Intrastate Cooperative Members.

59-28-603. Property Tax Exemption. Pursuant to U.C.A. § 59-2-1114(1), all Utah Taxpayer tangible personal property within the fiduciary care, custody and control of any Utah Intrastate Commerce Cooperative shall be exempt from any and all property taxation.59-28-604. Consolidated Tax Filings by Utah Intrastate Commerce Cooperatives. All Utah Intrastate Commerce Cooperatives shall be entitled pursuant to U.C.A. §

59-7-401 et seq. to file a water’s edge combined report as well as a federal consolidated report in lieu of separate tax returns filed by any such cooperative’s Utah Intrastate Cooperative Members which shall be exempt from obtaining a tax Identification number separate and apart from the tax identification number of the cooperative under which they operate
§ 5 Monetary Fraud and Investigations Unit Added
§5(A) Adds an office to the SBI with a single position, to manage the investigations of monetary fraud, plus access to existing investigative resources.

§5(B) Authorizes The Investigative Office

§5(C) Funds The Investigative Office (Receipt Supported?)
§ 6 Funding The Service and Exchange

§6(A) Receipt Supported?
§ 7 State Money May Not Be Confiscated Except As The Proceeds From A Convicted Crime

[hazek]

I hope you don't mind but I really let my self go a little bit and changed everything that I thought didn't seem ok to me. :)


So please consider:
------------------------------------------------------------------------------
DRAFT RESOLUTION FOR DISCUSSION AND COLLABORATION

NORTH CAROLINA BULLION, COIN, AND SHOT TENDER ACT OF 2011

§ 1 Definitions
§1(A) Gold Material - All bullion, coin, shot, or bulk material (not to include formed clothing jewelry and artwork) in 22k and 24k gold in exchange by mass of elemental Au

§1(B) Silver Material - All bullion, coin, shot, or bulk material (not to include formed clothing jewelry and artwork) from .90 and .999 purity in exchange by mass of elemental Ag

§1(C) Registered Specie - (see MT/UT listing and process. Allow new specie to register upon certification ie: KITCO bullion)

§1(D) State Money - Any Tender Silver, Tender Gold, or Registered Specie

§1(E) Federal Money - Federal legal tender as defined in Section 31 U.S.C. 5103
(I think the broader the definition the more timeless application the bill will have; Section 31 U.S.C. 5103 defines legal tender as "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.")

§ 2 Use As Tender Authorized
TENDER ALLOWED: State Money shall be considered legal tender within the State of North Carolina. The purchase or exchange of State Money shall not be taxed.
(considered sounds to me a bit vague and I want this bill to be clear as day)
§ 3 Exchange with Federal Money
§3(A) Exchanging State Money for Federal Money
1. State Money may be exchanged to the NC State Treasury for Federal Money at the defined exchange rate

2. State Money may be exchanged for Federal Money to a private enterprise that will provide the service at the exchange rate agreed upon by both parties of the exchange
(I don't think it's wise to limit at what rate the exchange between two private parties can take place, spot price is just a price of one particular market, but you as a private person should be able to sell it to someone bellow or above as you see fit IMO only the state should be confined to the spot price)

2a. Assessing of handling fees is allowed for private exchanges.
§3(B) Exchanging Federal Money For State Money
1. The NC State Treasury will to it's best ability and supply exchange State Money for Federal Money at the defined exchange rate
1a. This activity may be franchised to the private market for a license/fee/something(I don't think the state should carry the burden of acquiring precious metals to meet the markets demand, but should only offer for exchange what ever it receives)

1b. The release of State Money in exchange for Federal Money will be considered for Intrastate commercial purposes, and restrictions may be placed on it's export.
(cause you see, then you also don't have to regulate where state money can be used.. if people own PMs within the state they are legal tender, but they are free to take it out outside the state as they see fit and the state doesn't lose anything if they do)
2. Federal Money may be exchanged for State Money to a private enterprise that will provide the service at the exchange rate agreed upon by both parties of the exchange(These private enterprises should be the ones trying to meet the supply and demand of the market!)
§3(C) Vendor Exchanges
1. Federal Money may be rendered at by both parties agreed upon exchange rate in change for purchases made in State Money by sellers if agreed to by both the buyer and the seller. (Again I don't think the bill should limit what the agreed upon exchange rate between to private parties is)
§3(D) Vendor Acceptance
1. This act shall not compel any seller to accept Registered Specie or State Money, except as agreed to beforehand by contract.

2. Vendors may elect to only accept Registered Specie in lieu of State Money or Federal Money.

3. Retirement Investment plans and 401k etc may only accept registered specie. &c (See "taxation" below) or Federal Money.
§ 3.1 Exchange rate is the Current Median of 168- by 24-hour Moving Average Spot Price.

§ 4 Taxation. (copied from Utah Bill, unadjusted for NC Statute)
59-28-601. Capital Gains Tax Inapplicable. In no case shall the acquisition, sale or use of Registered Specie within the course and scope of Utah Intrastate Commerce subject any Utah Taxpayer to any tax liability whatsoever for any actual or alleged gain realized from fluctuations in the exchange rate between Registered Specie and any other currency, medium of exchange or legal tender.

59-28-602. Sales/Use Tax Exemptions. As provided in U.C.A. § 59-12-104(50)-(51), no sales or use taxes shall apply to the the sale or purchase of Registered Specie within the course and scope of Utah Intrastate Commerce. Moreover, no sales tax shall be assessed on transactions between or among Utah Intrastate Commerce Cooperatives and Utah Intrastate Cooperative Members.

59-28-603. Property Tax Exemption. Pursuant to U.C.A. § 59-2-1114(1), all Utah Taxpayer tangible personal property within the fiduciary care, custody and control of any Utah Intrastate Commerce Cooperative shall be exempt from any and all property taxation.59-28-604. Consolidated Tax Filings by Utah Intrastate Commerce Cooperatives. All Utah Intrastate Commerce Cooperatives shall be entitled pursuant to U.C.A. §

59-7-401 et seq. to file a water’s edge combined report as well as a federal consolidated report in lieu of separate tax returns filed by any such cooperative’s Utah Intrastate Cooperative Members which shall be exempt from obtaining a tax Identification number separate and apart from the tax identification number of the cooperative under which they operate
§ 5 Monetary Fraud and Investigations Unit Added
§5(A) Adds an office to the SBI with a single position, to manage the investigations of monetary fraud, plus access to existing investigative resources.

§5(B) Authorizes The Investigative Office

§5(C) Funds The Investigative Office (Receipt Supported?)
§ 6 Funding The Service and Exchange

§6(A) Receipt Supported?
§ 7 State Money May Not Be Confiscated Except As The Proceeds From A Convicted Crime(I don't know how to word this 7th point but it can't contain From A Convicted Crime, because the state could pass a law down the road for the sole purpose of confiscation where you could get convicted of a crime solely for owning PMs, I think it's better if we put it in the enforcement of contracts through courts and payment of state taxes and debts but like I said I don't know how exactly to word that..)

[GunnyFreedom]

Thanks Hazek, this is great input. I'll have to wait until I get back from Session tonight (around 9-10PM~ish) before I can assimilate it.

I will say before I go (and this is something that folks can think about while I am at the Legislature) I would like to make this operation receipt supported without levying a tax on bullion purchases from the State. This is way, way, way more likely to pass if it's receipt supported. I wonder if a "handling fee" on State Money exchanged (roughly correspondent to the premium over market price) would bring in enough money to operate the program, and I wonder if some people would call that a "tax."

Any ideas on how to make this program receipt-supported? Otherwise, EVERYONE'S tax dollars will go into funding a program that maybe 7% of NC'ers participate in (for now, that will grow after a FRN collapse). I don't like taking tax money from everyone to support a program that fewer than 10% will use...

If if anybody has an idea to make it receipt supported let me know.

I will look at that, and hazek's suggestions when I get back tonight.

Hazek - See also the 2012 bill listed in the second spot here:

http://www.ronpaulforums.com/showthread.php?282628-Let-s-talk-about-a-State-level-sound-money-bill&p=3150347&viewfull=1#post3150347

Some of what I am doing with the 2011 bill is preparing the way for the 2012 bill, so keep that in mind also.

Thanks!

[libertybrewcity]

do you think a more attractive title would help push it through?

Shot and bullion sound kind of "extreme".

Maybe something like the North Carolina Sound Money Act would be better.

Just a thought.

[GunnyFreedom]

do you think a more attractive title would help push it through?

Shot and bullion sound kind of "extreme".

Maybe something like the North Carolina Sound Money Act would be better.

Just a thought.


You are right, may be:

"NORTH CAROLINA US CONSTITUTION ARTICLE 10A5 AUTHORITY RECOGNIZING ELEMENTAL GOLD AND ELEMENTAL SILVER AS VALID TENDER IN THE STATE OF NORTH CAROLINA"

?

Short Title: "North Carolina Constitutional Hard Tender Act"

[GunnyFreedom]

Thanks Hazek, your comments in 3B were spot on. I was thinking about growing a reserve to prepare for the 2012 currency bill. There is probably a better way to grow the reserves without making 3B insanely complicated. If not, then that can be addressed in the 2012 bill.

[GunnyFreedom]

I also agree that private exchange rates should be set privately.

have you thought about how to let the State assess a handling fee on exchanges (similar to the private market) enough to pay for the exchange and attached services without going through appropriations? I know if APMEX were $2 over spot, and the State Reserve were $1 over spot, I'd be driving to Raleigh. I don't want it to turn into a tax though, but it would help a lot if the State Exchange were receipt supported.

[GunnyFreedom]

NORTH CAROLINA DECLARES US CONSTITUTION ARTICLE 10A5 AUTHORITY RECOGNIZING ELEMENTAL GOLD AND ELEMENTAL SILVER AS VALID TENDER IN THE STATE OF NORTH CAROLINA

North Carolina Constitutional Hard Tender Act

DRAFT RESOLUTION FOR DISCUSSION AND COLLABORATION

NORTH CAROLINA BULLION, COIN, AND SHOT TENDER ACT OF 2011

§ 1 Definitions

§1(A) Gold Material - All bullion, coin, shot, or bulk material (not to include formed clothing jewelry and artwork) in 22k and 24k gold in exchange by mass of elemental Au

§1(B) Silver Material - All bullion, coin, shot, or bulk material (not to include formed clothing jewelry and artwork) from .90 and .999 purity in exchange by mass of elemental Ag

§1(C) Registered Specie - (see MT/UT listing and process. Allow new specie to register upon certification ie: KITCO bullion)

§1(D) State Money - Any Tender Silver, Tender Gold, or Registered Specie

§1(E) Federal Money - Federal legal tender as defined in Section 31 U.S.C. 5103

§ 2 Use As Tender Authorized

TENDER ALLOWED: State Money shall be legal tender within the State of North Carolina. The purchase or exchange of State Money shall not be taxed.

§ 3 Exchange with Federal Money

§3(A) Exchanging State Money for Federal Money

1. State Money may be exchanged to the NC State Treasury for Federal Money at the defined exchange rate

2. State Money may be exchanged for Federal Money to a private enterprise that will provide the service at the exchange rate agreed upon by both parties of the exchange

2a. Assessing of handling fees is allowed for private exchanges.

2b. The State Treasury may assess handling fees at the exchange equal to the operational costs of the exchange.

§3(B) Exchanging Federal Money For State Money

1. The NC State Treasury will to it's best ability and supply exchange State Money for Federal Money at the defined exchange rate

2. Federal Money may be exchanged for State Money to a private enterprise that will provide the service at the exchange rate agreed upon by both parties of the exchange

§3(C) Vendor Exchanges

1. Federal Money may be rendered at both parties agreed upon exchange rate in change for purchases made in State Money by sellers if agreed to by both the buyer and the seller.

§3(D) Vendor Acceptance

1. This act shall not compel any seller to accept Registered Specie or State Money, except as agreed to beforehand by contract.

2. Vendors may elect to only accept Registered Specie in lieu of State Money or Federal Money.

3. Retirement Investment plans and 401k etc may only accept registered specie. &c (See "taxation" below) or Federal Money.

§ 3.1 Exchange rate is the Current Median of 168- by 24-hour Moving Average Spot Price.

§ 4 Taxation. (copied from Utah Bill, unadjusted for NC Statute)

59-28-601. Capital Gains Tax Inapplicable. In no case shall the acquisition, sale or use of Registered Specie within the course and scope of Utah Intrastate Commerce subject any Utah Taxpayer to any tax liability whatsoever for any actual or alleged gain realized from fluctuations in the exchange rate between Registered Specie and any other currency, medium of exchange or legal tender.

59-28-602. Sales/Use Tax Exemptions. As provided in U.C.A. § 59-12-104(50)-(51), no sales or use taxes shall apply to the the sale or purchase of Registered Specie within the course and scope of Utah Intrastate Commerce. Moreover, no sales tax shall be assessed on transactions between or among Utah Intrastate Commerce Cooperatives and Utah Intrastate Cooperative Members.

59-28-603. Property Tax Exemption. Pursuant to U.C.A. § 59-2-1114(1), all Utah Taxpayer tangible personal property within the fiduciary care, custody and control of any Utah Intrastate Commerce Cooperative shall be exempt from any and all property taxation.59-28-604. Consolidated Tax Filings by Utah Intrastate Commerce Cooperatives. All Utah Intrastate Commerce Cooperatives shall be entitled pursuant to U.C.A. §

59-7-401 et seq. to file a water’s edge combined report as well as a federal consolidated report in lieu of separate tax returns filed by any such cooperative’s Utah Intrastate Cooperative Members which shall be exempt from obtaining a tax Identification number separate and apart from the tax identification number of the cooperative under which they operate

§ 5 Monetary Fraud and Investigations Unit Added

§5(A) Adds an office to the SBI with a single position, to manage the investigations of monetary fraud, plus access to existing investigative resources.

§5(B) Authorizes The Investigative Office

§5(C) Funds The Investigative Office (Receipt Supported?)

§ 6 Funding The Service and Exchange

§6(A) Receipt Supported?

§ 7 Contracts and Enforcement

[american.swan]

What about a coinage act? I figure NC can't coin gold or silver, but if a private person wanted to coin money, wouldn't it be nice to have a law or clause allowing them to do so, as long as the money didn't claim to be "dollars" or "federal money" and was labeled/stamped only with manufacturer and weight.

[GunnyFreedom]

What about a coinage act? I figure NC can't coin gold or silver, but if a private person wanted to coin money, wouldn't it be nice to have a law or clause allowing them to do so, as long as the money didn't claim to be "dollars" or "federal money" and was labeled/stamped only with manufacturer and weight.

Right, Art10 of the US Constitution prevents the States from coining money.

I think the 2011 law being discussed would actually accomplish this as a result of recognizing elemental gold and silver as tender. Anybody can scrape silver and gold together into bullion, and this act does not require a bullion maker to be on the list of registered specie in order for their bullion to be tenderable.

So no further act would be required on that one. Just make bullion (square or rounds) instead of "money coins" and you're golden.

[hazek]

Thanks Hazek, your comments in 3B were spot on. I was thinking about growing a reserve to prepare for the 2012 currency bill. There is probably a better way to grow the reserves without making 3B insanely complicated. If not, then that can be addressed in the 2012 bill.

NP and thanks, makes me actually feel a bit proud if it gets passed there's a bit of my brain work in it :)

I was thinking about how you could pay for it yea so I did a little brainstorming and here are my thoughts:
-you don't want the bill to give the state permission to set the price of fees arbitrarily
-but you are right fees are ok, it makes no sense to me why the state(all tax payers) should carry any burden of providing this service
-but it shouldn't charge more in fees then the local private exchanges do in fact it should try to be the cheapest

Then I got this idea:
If there's a way for the treasury to always know what the local exchange fees are you could maybe under 3B 1a. write in a handling fees clause that binds the fees to the local fees but always at 20% less.

Something like:
3B
1a. NC State Treasury may assess handling fees at the exchange to no more than 20% less of the previous business day median of fees charged by private enterprises that will provide the service
(I used median because I feel average could get abused to raise fees above the lowest private fees, I want the state to always be among cheapest to provide State money so their coffers will always get emptied out first, this way there are also a lot of fees guaranteed because people will 1. have a strong incentive to turn in their state money to the treasury and always get spot for it in Federal money and then they'll have an incentive to empty it's coffers because it will always charge the least in handling fees)
(Btw no more then 20% less then median means that in case the private enterprises reported back fees of 4,2% 4,6% 4,8% 4,8% 4,9% 4,9% 4,9% 5% 5,3% 5,5% 6% it will take 4.9% and 20% off of it which will end up being 3.92%)

We'd now also have to add a clause under this one in the eventuality that all the private exchanges were shut down in which case I'd fix the fees at max 3.5% above spot. (3.5 is a number I just made up) I don't want the state to have the power to raise fees based on it's costs even if there are no private exchanges to get the median fees from because I think that's just too wide open and could be abused.

So if you add something like that into the bill you then also have to add:
3B
2a. Private enterprises that will provide the service must at the end of each business day provide NC State Treasury the assessed handling fees of that day

And you can enforce it through the 5th clause

[hazek]

I also agree that private exchange rates should be set privately.

have you thought about how to let the State assess a handling fee on exchanges (similar to the private market) enough to pay for the exchange and attached services without going through appropriations? I know if APMEX were $2 over spot, and the State Reserve were $1 over spot, I'd be driving to Raleigh. I don't want it to turn into a tax though, but it would help a lot if the State Exchange were receipt supported.

Right, lets see, I answered most of this in the post above..

Btw I'm kind of lost when you say "it would help a lot if the State Exchange were receipt supported." I'm a foreigner and I don't exactly understand what that means.. to be recipient supported, is that like you get a bill for your purchase? a recipient?

Oh and one more thing I think the state should only charge fees when exchanging Federal money for State money, when ever it's the other way around, people should get spot from the state for their State money which most private exchange will do also I imagine because as it is now you usually get paid spot and it's only when you buy PMs you have to pay fees. So I'd strike 3A 2b.

When you get back to me about recipients I'll help you further, right now that's all I got :)

[GunnyFreedom]

On my way to work will address both, but wanted to leave a note on "receipt supported"

It means "funded by it's own income." ie the fees assessed in exchanging USD for bullion ideally would pay for the whole operation of this law.

[hazek]

Right, Art10 of the US Constitution prevents the States from coining money.

I think the 2011 law being discussed would actually accomplish this as a result of recognizing elemental gold and silver as tender. Anybody can scrape silver and gold together into bullion, and this act does not require a bullion maker to be on the list of registered specie in order for their bullion to be tenderable.

So no further act would be required on that one. Just make bullion (square or rounds) instead of "money coins" and you're golden.

Your golden as long as you meet the criteria of purity ;) But yea this bill would essentially make any amount shape or form of Au or Ag when of the correct purity as legal tender no matter the origin. And that's exactly what we want.

[hazek]

On my way to work will address both, but wanted to leave a note on "receipt supported"

It means "funded by it's own income." ie the fees assessed in exchanging USD for bullion ideally would pay for the whole operation of this law.

Ahhhhh :)

Well I think if people had a strong enough incentive to always empty state coffers as soon as the state had any what ever fees it charged it would probably pay for it self. But I have to admit I have no idea how I could even begin to prove that.

EDIT: Oh and if people always emptied the state vault I'd imagine there wouldn't even a too high of a cost to begin with because the vault could be small and usually emptied as soon as it had any.

[hazek]

I also read your initial proposal for NORTH CAROLINA AUTHORIZED STATE TENDER ACT OF 2012 and I was wondering why not instead only set the rules for the certificates which then any private enterprise may issue but always only for as much state money they have in their vault. This way the state provides the same unified rules for certificates for the whole state of NC but doesn't have to actually print them or hold the State money in it's vault which would again lowers the costs and shift the burden of issuing certificates on private vaults.

Basically I think the best idea would be to introduce paper State money as it was originally a few hundred years ago :) but only regulate it better to prevent fractional reserve banking.

[GunnyFreedom]

I'll be sending the 2011 bill to drafting Friday (maybe as late as Monday) but once it's in drafting we will still have the ability to affect it.

[hazek]

I'll be sending the 2011 bill to drafting Friday (maybe as late as Monday) but once it's in drafting we will still have the ability to affect it.

Can you paste it here in the form in which you'll send it to drafting?

[JoshLowry]

From March 4th:

http://www.youtube.com/watch?v=CUDDZcz3SLM

http://i.imgur.com/Lj1DT.png

Glad to hear it is now 14 states pushing for real change!

[matt0611]

Question, under this bill how would people of NC pay their state taxes? With "state money" only? Or can they also choose to use FRNs?

Would the state do any business at all with FRNs?

This is great by the way! Wish my state were doing something like this.

[Matt Collins]

http://www.youtube.com/watch?v=nc1j2uUx-do&feature=player_embedded

[Live_Free_Or_Die]

Ok.. I'll play along for the hell of it....


DRAFT RESOLUTION FOR DISCUSSION AND COLLABORATION

NORTH CAROLINA BULLION, COIN, AND SHOT TENDER ACT OF 2011

NORTH CAROLINA GOLD AND SILVER TENDER CONSTITUTIONAL AMENDMENT OF 2011

Preamble

State constitutions are constructed in a manner in which that which is not expressly prohibited is allowed to be regulated by states. It is the intention of the people of North Carolina to adopt this constitutional amendment in order to limit the scope of government intervention in North Carolina markets so that gold or silver may be freely tendered.

I. North Carolina and political subdivisions of North Carolina are expressly prohibited from defining gold or silver tender except, gold or silver tenders accepted by North Carolina and political subdivisions thereof, for all debts public and private. Definition of terms is a normal activity that voluntarily occurs between parties in a free market. This express prohibition applies to all executive, legislative, or judicial branches of state and local governments in North Carolina.

II. North Carolina and political subdivisions of North Carolina are expressly prohibited from any act of seizure, forfeiture, or any other term used to masquerade an act of theft, of gold or silver from any individual, at any time, for any reason unless there is an individual proven to be a victim by a jury in North Carolina. This express prohibition applies to all executive, legislative, or judicial branches of state and local governments in North Carolina.

III. North Carolina and political subdivisions of North Carolina are expressly prohibited from cooperating with the federal political subdivision of the united States of America for any act of seizure, forfeiture, or any other term used to masquerade an act of theft, of gold or silver from any individual, at any time, for any reason unless there is an individual proven to be a victim by a jury of North Carolina. North Carolina shall interpose on behalf of any individual in North Carolina against the federal political subdivision of the united States of America anytime the United States demands payment in any thing but legal tender prescribed by the Congress of the united States of America.

IV. The judiciary and courts of North Carolina are expressly prohibited from settling or enforcing any contracts specifying gold or silver as tender except:

a) Where there is proof a definition of gold or silver tender has been agreed to by all parties.
b) Where there is an individual proven to be a victim by a jury of North Carolina.

It is the intent of the legislature and people of North Carolina to expressly prohibit the judiciary and courts from abridging any rights of contracting parties to define gold or silver tender in private contract. It is the intent of the legislature and people of North Carolina to put all individuals in North Carolina on notice there shall be no government judicial remedy for any gold or silver tender contract where parties do not exercise responsibility to define gold or silver tender.

V. North Carolina and political subdivisions of North Carolina are expressly prohibited from refusing to honor gold or silver tendered defined as gold or silver tender by the legislature of North Carolina for all debts public and private in North Carolina. It shall be left up to each entity of government whether to individually accept state defined gold or silver tender but every county in the state of North Carolina shall designate at least one entity, public or private, that shall be required to accept gold or silver tender for any debt public or private.

VI. The legislature of North Carolina is expressly prohibited from failing to provide a definition of gold or silver tender for all debts public and private in North Carolina at any time, for any reason. Should the legislature of North Carolina fail to provide a definition of gold or silver tender for all debts public and private in North Carolina at any time for any reason, or refuse to honor gold or silver tenders defined by the legislature for all debts public and private, a popular constitutional convention shall be subsequently held among the people of North Carolina to remedy treason of the North Carolina government.