Arizona House Committee Passes Bill To Support Sound Money
http://www.activistpost.com/2017/02/...und-money.html
An Arizona bill that would eliminate state capital gains taxes on gold and silver specie,
and encourage its use as currency, passed an important House committee today.
Final approval of the legislation would help undermine the Federal Reserve’s monopoly on money.
Rep. Mark Finchem (R-Tucson) introduced House Bill 2014 (HB2014) on Jan. 9.
The legislation would eliminate state capital gains taxes
on income “derived from the exchange of one kind of legal tender for another kind of legal tender.”
The bill defines legal tender as “a medium of exchange, including specie,
that is authorized by the United States Constitution or Congress
for the payment of debts, public charges, taxes and dues.”
“Specie” means coins having precious metal content.
In effect, passage of the bill would “legalize the Constitution” by treating gold and silver specie as money.
the United States Constitution states in Article I, Section 10,
“No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.”
The Arizona bills take a step towards that constitutional requirement,
ignored for decades in every state.
Such a tactic would undermine the monopoly or the Federal Reserve
by introducing competition into the monetary system.
Professor William Greene is an expert on constitutional tender
and said when people in multiple states actually start using gold and silver instead of Federal Reserve Notes,
it would effectively nullify the Federal Reserve
and end the federal government’s monopoly on money.
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Originally Posted by Torchbearer
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