The U.S. Constitution Article I Section 10 purposefully states (“No State shall …make any Thing but gold and silver Coin a Tender in Payment of debt[,] …”)
HB2173 which restores gold and silver coin as money pursuant to such, passed the Arizona Senate in March 2015.
WHY DOES THIS MATTER?
- Money determines how goods and services are traded in an economy.
In a free economy people can choose what they use for money. Our founders provided gold and silver coin as money which was known to be universally accepted. And such coins when standardized in weight and purity maintained their buying power. When people used gold and silver coin (commodity currency) as money–it was money.
On December 23rd 1913 Congress introduced fiat currency which was issued as paper bills and ledger entries initially redeemable in gold and silver coin. From that date until April 5, 1933 people could choose to use either gold and silver coin or fiat bills and ledger accounts in Federal Reserve member banks (both) as money.
From that date until January 1, 1964 U.S. Citizens could choose to use silver coins OR Federal Reserve fiat bills and ledger accounts as money. But since January 1, 1964 U.S. Citizens could no longer choose to get coin having 90% silver in exchange for their paper bills or ledger entries from the United States Mint.
Fiat currency is the means by which private central banks finance government outside and independently from the economy.
- With fiat currency the central government can spend money it does not have and tax industry less than the money that was spent. Fiat currency private central banks can issue at will regardless of the production of goods and services by the economy. That is why tax debt can EXCEED 100% of the Gross Domestic Product.
Consequently private central banks (who are not the participants in the economy) maintain and exert authority over the legislated and constituted government through fiat currency. That makes the economy (and the people who make it happen) servant to those very same private central banks.
THE DIFFERENCE IS…
- Gold and silver coin are finite (limited quantity) tangible commodities which cannot be issued by fiat.
As such, banks and governments must depend upon the economy (which is the production and trade of goods and services ) paid for with these tangible finite commodities. That makes the private central banks and government servant to the economy and the people who make it happen.
- HB2173 restores gold and silver coin as a choice of money which, BECAUSE IT IS MONEY, cannot be designated a taxable capital gain since it merely preserves purchasing power by being an alternate form of your labor!
This has the potential to restore private central banks and central government as servants to our economy rather than our economy servant to private central banks and central government.
Please make the restoration of gold and silver coin a legacy of this administration; sign this bill into law.
Generations in Arizona after ours will thank us for our compliance with the Arizona and U.S. Constitutions, protecting our earning power when placed in trading form.
Please email and call to leave messages to Gov. Doug Ducey at (602) 542-4331 (press 2 to leave a message) and ask those in your email and phone circle of friends to do so.
Website is www.azgovernor.gov and click on “engage” and follow instructions for email messages.
CALL OR EMAIL GOV. DUCEY TODAY and let him know if you are a PC!