Resurrecting Gold Clause Contracts at the State Level: A Tool to Undermine the Fed

by Jp Cortez Originally published at http://tenthamendmentcenter.com/2016/09/24/resurrecting-gold-clause-contracts-at-the-state-level-a-tool-to-undermine-the-fed/ Gold clause contracts provide an avenue for states to promote the use and acceptance of gold and silver, and undermine the Fed’s monopoly on money. Assuming you had the money, would you loan $10,000 to be paid back over 30 years plus 3 percent interest? What if inflation…

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The Time Is Right for State Gold and Silver Depositories

by Mike Maharrey Originally published at http://blog.tenthamendmentcenter.com/2016/09/the-time-is-right-for-state-gold-and-silver-depositories/ A state gold depository in Texas continues to move closure to reality and it appears to be happening at just the right time. Since the beginning of the year, the price of gold has risen 26 percent and silver has skyrocketed 37 percent. Surging precious metal prices have…

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Four Ways States Can Take on the Federal Reserve

by Jp Cortez Originally posted at http://tenthamendmentcenter.com/2016/07/16/four-ways-states-can-take-on-the-federal-reserve/ There are practical steps that can be taken at the state level to promote the use and acceptance of sound money and undermine the Fed’s monopoly on money. Control the money and you control the people. The federal government has done just that in the Unites States. Over…

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Arizona Governor Vetoes Bill Supporting Gold and Silver as Legal Tender

by Mike Maharrey Originally posted at http://blog.tenthamendmentcenter.com/2016/05/arizona-governor-vetoes-bill-supporting-gold-and-silver-as-legal-tender/ PHOENIX, Ariz. (May 13, 2016) –  Arizona Gov. Doug Ducey vetoed a bill that would have “legalized the Constitution” by defining gold and silver specie as legal tender and encouraging their use as currency. Sen. David C. Farnsworth and Rep. Doug Coleman, along with seven cosponsors, introduced Senate Bill…

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Tennessee Governor Signs Resolution in Support of Creating Bullion Depository

by Mike Maharrey Originally posted at http://blog.tenthamendmentcenter.com/2016/04/tennessee-governor-signs-resolution-in-support-of-creating-bullion-depository/ NASHVILLE, Tenn. (April 28, 2016) – Yesterday, Tennessee Gov. Bill Haslam signed a resolution setting the stage for creation of state bullion depository, an important first step toward establishing gold and silver as money in the state. Rep. Bud Hulsey (R-Kingsport) introduced House Joint Resolution 516 (HJR516) in January. The resolution declares…

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Kentucky Bill Would Support Constitutional Tender

by Mike Maharrey Originally published at http://blog.tenthamendmentcenter.com/2016/02/kentucky-bill-would-support-constitutional-tender/ FRANKFORT, Ky. (Feb. 17, 2016) – A bill introduced in the Kentucky House would “legalize the Constitution” by defining gold, platinum and silver coins as legal tender and encouraging their use as currency. Rep. Thomas Kerr (R-Taylor Mill) introduced House Bill 405 (HB405) on Feb. 12. The legislation…

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Wyoming Bill Would Establish Bullion Depository, Help Facilitate Transactions in Gold and Silver

by Mike Maharrey Originally posted at http://blog.tenthamendmentcenter.com/2016/02/wyoming-bill-would-establish-bullion-depository-help-facilitate-transactions-in-gold-and-silver/ CHEYENNE, Wyo. (Feb. 10, 2016) – A Wyoming bill would create a state gold depository, an important first step toward establishing gold and silver as commonly used legal tender in the state. A coalition of nine Republican representatives introduced House Bill 124 (HB124). The legislation would create the Wyoming Bullion…

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Oklahoma Bill Would Establish Bullion Depository, Help Facilitate Transactions in Gold and Silver

OKLAHOMA CITY, Okla. (Jan. 29, 2016) – A bill prefiled in the Oklahoma House would create a state gold depository, an important first step toward establishing gold and silver as commonly used legal tender in the state. Sen. Nathan Dahm prefiled Senate Bill 1296 (SB1296) earlier this week for official introduction when the regular session begins on…

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Hugh McCulloch

Hugh McCulloch, 27th Secretary of the Treasury, appointed by President Abraham Lincoln

“The present legal tender acts were war measures, and while the repeal of those provisions which made the United States notes lawful money is not now recommended, the Secretary is of the opinion that they ought not to remain in force one day longer than shall be necessary to enable the people to prepare for a return to the constitutional currency. It is not supposed that it was the intention of Congress, by these acts, to introduce a standard of value, in times of peace, lower than the coin standard, much less to perpetuate the discredit which must attach to a great nation which dishonors its own obligations by unnecessarily keeping in circulation an unredeemable paper currency. It has not in past times been regarded as the province of Congress to furnish the people directly with money in any form. Their authority is “to coin money and fix the value thereof;” and, inasmuch as a mixed currency, consisting of paper and specie, has been found to be a commercial necessity, it would seem, also, to be their duty to provide, as has been done by the National Currency Act, that this paper currency should be secured beyond any reasonable contingency. To go beyond this, however, and issue government obligations, making them by statute a legal tender for all debts, public and private, is not believed to be, under ordinary circumstances, within the scope of their duties or constitutional powers.” — From the “Annual Report of the Secretary of the Treasury,” Dec. 4, 1865

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