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Thursday, February 18, 2010

State Legeslative Approach to End the Fed

From Profg at Redstate:

I’ve got a question to pose to you experts :-), about a possible proposal I’ve been rolling around my brain for a while.

I’ve been having this discussion on a couple of the Georgia CfL lists, but I thought it might be a good idea to post it on a few blogs.

The U.S. Constitution says, in Article I Section 10, “No State shall… Make any Thing but gold and silver Coin a Tender in Payment of Debts…”

What if we come up with a model bill, to be introduced by our friends in state legislatures, which uses this constitutional provision to criminalize the use of Federal Reserve Notes as payment to the state? State income taxes, business taxes, sales taxes, agency fees, etc. — maybe even lottery ticket purchases! — all must be paid with gold or silver coins. Maybe even payments that the state itself has to make, too.

By law, the word “coin” can only apply to rounds that are minted by the U.S. Treasury Department, so that can be included as well.

The law will be challenged, of course; but if written correctly, it would be fully constitutional, and should hold up even to the SCOTUS level, leading to the rejection of fiat money. And even if it doesn’t, it will be one more educational chink in the Emperor’s New Armor, as we work towards the day that the FED is no more.


Great article. Your thoughts.

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