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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/
(Score: 2, Interesting) by Scrutinizer on Sunday April 16 2017, @06:49PM (1 child)
Recent history, as well.
Fernando "FerFAL" Aguirre [blogspot.com] authored a book about his life during the 2001 economic collapse of Argentina, and specifically noted that gold was accepted in trade for necessities. Among his "hindsight wishlist" items was a stockpile of plain gold wedding bands, as while gold coins drew attention, "nobody thought anything about some poor soul wandering into a pawn shop and pulling off the gold band on his finger to sell for cash".
(Score: 0) by Anonymous Coward on Monday April 17 2017, @07:04AM
He got that idea from David Bowie in "The Man Who Fell to Earth".