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News Link • Fiat Currency

The End Of Fiat? Multiple States Move To Recognize Gold & Silver As Legal Currency

• https://thefreethoughtproject.com, Don Via Jr.

It's no secret that the US economy is in dire straits. With the rising price of goods coupled with the devaluation of the dollar, inflation over the last several years is soaring as the reckless spending and money printing of the government continues unabated.

The financial hardships that Americans are experiencing are a direct result of the fiscal irresponsibility of government monetary policy which has caused a steady decline in the purchasing power of the dollar. From decades of debt brought about by the endless spending to finance forever wars, corporate bailouts, the bloated federal budget, rising taxes, and more recently, the disastrous wealth transfer of the COVID years in the form of the destructive economic impact of lockdown policies and the trillions printed in subsidies under the guise of "stimulus"; the US economy is comparable to the Titanic, and we the people are Jack Dawson.

However, as federal fiscal policy continues to take on water at least a dozen states are attempting to deploy life rafts, exercising their constitutional rights to enact legislation in hopes of once again making sound money an economic standard barer. 

Article 1 Section 10 of the United States constitution expressly states that "No state shall...  make any Thing but gold and silver Coin a Tender in Payment of Debts". Based on this simple premise many, most notably former congressman Ron Paul, have argued for decades that the current US monetary system run by the Federal Reserve of printing debt based fiat dollars and policies of price fixing is not only destructive, but completely unconstitutional.

To that end, as of this writing the Tenth Amendment Center reports the states of Alabama, Arizona, Florida, Idaho, Iowa, Michigan, Missouri, Montana, North Dakota, Oklahoma, Tennessee, and Wyoming are all in the various stages of enacting bills that would recognize gold and silver as valid legal tender as the constitution stipulates, with more states likely to follow.

In Alabama, the state Senate unanimously voted 31-0 to pass the Alabama Legal Tender Act, SB130, filed by Sen. Tim Melson, which affirms "any refined gold or silver bullion, specie, or coin that has been stamped, marked, or imprinted with its weight and purity" would be recognized as legal tender in the state. The bill also includes a contract clause provision which states "No person shall be required to offer or accept any recognized legal tender … except as specifically provided for by contract or otherwise required by law."