Arizona Constitutional Committee
Fact Sheet: Why Gold & Silver Coin as Legal Tender
Is the Best Hope for Arizona’s Future Economy
THE NATIONAL DEBT IS NOT THE PROBLEM. The Founders of our country knew the intrinsic and historical value of precious metal-backed legal tender BUT, INSTEAD, we were deceived into buying an artificial, constitutionally prohibited monetary system. The Federal Reserve [FED] is a symptom but a Congress that refuses to follow the mandates in the United States Constitution is the problem. Here’s why:
ARIZONA IS NOW EXPERIENCING:
- A DEFLATIONARY ECONOMY in ∙employment ∙wages ∙traditional asset valuation [real estate, stocks & bonds];
- CURRENCY DEVALUATION resulting in PRICE INCREASES;
- PURPOSELY DEPRESSED INTEREST RATES effectively at zero percent so the FED is the only buyer of and largest holder of U.S. Treasury debt. The Treasury prints MORE currency to stave off DEFAULT;
- A centralized system [FED] preventing free market competition [removes consumer choice];
- SLOW DESTRUCTION of the ARIZONA economy reducing consumer purchasing power, state sales tax revenues, reduction of available jobs and small businesses because states cannot print money BUT THE FED CAN;
- CENTRAL BANKING CONTRIVED POLICY so the Federal Government will be ‘THE LAST MAN STANDING’
SO HOW’S THE FED SYSTEM WORKING OUT FOR US? IT’S NOT!
- ARIZONA REVENUE is diminishing while demand for services is increasing.
- There is a HIGH RISK that many future municipal bonds will default; several cities are already on the verge of default.
- PIMCO [VERY LARGE bond fund] dumped ALL U.S. Treasury holdings long ago; the SIG statistics on the T.A.R.P. bailout shows that INCLUDING ALL U.S. Government obligations it is costing us $24 TRILLION;
- Global banks have manipulated gold and silver markets downward to protect the FED’s bad money, which DRIVES OUT GOOD MONEY from circulation.
- The “Short Squeeze” is happening on banks from spot price increases plus shortages in their gold inventories causing a spike in price and shortage of blanks at the U.S. Mint. The market is short selling gold and silver to create the impression that silver is plentiful and to shore up ETF prices.
- 2010 gold demand is up 66% in India, 70% in China BUT production is down 6.4% in S. Africa and 17.4% in Peru.
- Banks will default on physical delivery of Gold and Silver ETF paper certificates upon attempted redemption.
WHAT OUR SOCIETY WILL BE LIKE:
- Invariably interest rates will rise, HYPERINFLATION WILL RESULT, further diminishing our currency value, [called ‘LEGALIZED PLUNDER’] and further diminishing our QUALITY OF LIFE. This further DESTABILIZES the DOLLAR as currency, causing our trading partners to abandon the Dollar in favor of other currencies of greater value AND UNSUSTAINABLE DEBT as we can no longer make interest payments on spiraling, out of control debt.
- EVENTUAL CURRENCY COLLAPSE…we’ve seen this 14 times before, most lately in Argentina…with REISSUE of yet ANOTHER artificial currency, with $10,000 equal to 1 new unit: TRANSFER OF OUR WEALTH!
- Post-collapse ‘solutions’ will be reactionary and inadequate, even unrecoverable. Slow, confusing reactions producing inadequate solutions will leave many stunned and stung by massive losses.
- OUR AMERICAN CULTER WILL BE DESTROYED unless we become self-sufficient and responsibly self-reliant.
- ALTERNATIVE ECONOMIC SYSTEMS [commodity] of sound money/stable trade MUST be an Arizona priority.
- Re-establish VOLUNTARY CHOICE IN CURRENCY so THE FREE MARKET eventually repudiates fiat currencies.
- Decouple gold and silver tender from the Dollar, establishing complementary currencies. [Pan American Silver has long traded in other, more preferred currencies].
- Create localized markets less susceptible to international centralized bank interference.
- Such systems MUST be started EARLY, with the passage into law of an Arizona LEGAL TENDER BILL.
- The ARIZONA LEGAL TENDER BILL creates a “Safe Haven” status to prevent capital flight/attract new business/create jobs. It will ensure continued sound economic principles => prosperity!
- States with gold or silver mines will benefit IF READY for the sudden, huge demand!
PREVENTION OF TOTAL COLLAPSE IS KEY…THE DECISIVE WILL SURVIVE AND THRIVE!