Forget America’s Federal-issued Fiat currency – can individual States initiate a GCR and Gold-back the US Dollar at the State level? Yes!
We always hear that the USA is holding up Our GCR, yet individual States are moving forward with gold and silver legislation.
Can they do this?
The United States Constitution’s Framers (in 1787) were mindful of the hardships brought by continentals, the fiat paper money issued by the Continental Congress to finance the Revolution.
Notable Founders — including Thomas Jefferson, George Washington, James Madison, and Thomas Paine — warned about the ravages of issuing unbacked currency.
That’s why the Constitutional Convention overwhelmingly embraced gold and silver.
Washington wrote that paper money was “wicked.”
Madison called it “unjust” and “unconstitutional.”
Jefferson wrote that “its [paper money’s] abuses also are inevitable and, by breaking up the measure of value, makes a lottery of all private property.”
Following the example envisioned by the Founding Fathers and described in Article I, Section 10 of the United States Constitution, states should reaffirm gold and silver as a tender in payment of debts.
Article I, Section 10 of the United States Constitution:
“No State shall … coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts …”
That’s why sound money activists are launching exciting initiatives at the state level to challenge the monetary monopoly of the Fed. From Alabama to Wyoming, states across the U.S. continue to pass legislation to eliminate taxes on gold and silver, establish in-state depositories, protect state taxpayer funds with sound money, and more.
For USA residents – To research where your state is in all of this, click the link below.
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