Stories
Slash Boxes
Comments

SoylentNews is people

SoylentNews is powered by your submissions, so send in your scoop. Only 15 submissions in the queue.

Texas Bill to Establish Gold & Silver as Legal Tender, Dealing Massive Blow to Federal Reserve

posted by on Sunday April 16 2017, @10:06AM   Printer-friendly
from the raid-on-fort-knox dept.

MrPlow writes:

Submitted via IRC for TheMightyBuzzard

A bill recently introduced in Texas seeks to obliterate the Federal Reserve's much-maligned monopoly on currency by establishing gold and silver as legal tender — but the groundbreaking legislation, if passed, would also prohibit those precious metals from being seized by State authorities.

[...] Senator Bob Hall introduced the bill last month, which, the Tenth Amendment Center explains, "declares specifically that certain gold and silver coins are legal tender, and prohibits any tax, charge, assessment, fee, or penalty on any exchange of Federal Reserve notes (dollars) for gold or silver. The bill authorizes the payment of taxes and fees in gold & silver in certain circumstances. It would also prohibit the seizure of gold or silver by state authorities."

Would this matter in a nation where money is mostly plastic nowadays anyway?

Source: http://thefreethoughtproject.com/texas-bill-gold-silver-money-federal-reserve/

Original Submission

 
This discussion has been archived. No new comments can be posted.
Texas Bill to Establish Gold & Silver as Legal Tender, Dealing Massive Blow to Federal Reserve | Log In/Create an Account | Top | 109 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 2, Insightful) by Scrutinizer on Sunday April 16 2017, @06:56PM (1 child)

    by Scrutinizer (6534) on Sunday April 16 2017, @06:56PM (#494896)

    Why gold?

    Portability and longevity, that's why. Until I can tuck a month's worth of living expenses in the form of energy into the corner of a pocket, gold will still be among the top picks as a currency.

    That is, until we crash the price of gold by mining asteroids [soylentnews.org]...

    Starting Score:    1  point
    Moderation   +1  
       Insightful=1, Total=1
    Extra 'Insightful' Modifier   0  
    Total Score:   2  

  • (Score: 2) by kaszz on Sunday April 16 2017, @11:16PM

    by kaszz (4211) on Sunday April 16 2017, @11:16PM (#495005) Journal

    Got to find that floating gold nugget to begin with.. ;)

    Btw, I think a nugget of uranium-235 in space would however have a lot more practical use as it would enable power generation for all kinds of equipment. As there are a lot of places where the sun doesn't shine (enough).