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**Local Bank advertises: We Have EUROS

I was driving around and saw today on Sunday March 16th 2008 a local bank had a electronic sign that said: We Have EUROS.

....saugas bank......

It may not be long before retailers start excepting the Euro as well.

!!VERY SCARY!!



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Good News

Maybe we can push harder to get Dr. Pauls Competing Currency Legislation Passed and legalize Gold and the Liberty Dollar.

Hey, the IRS

would probably be happy to accept Euros on April 15th now.

Really?

Why not? I've moved almost all of my billing to other currencies. I only have one client who pays me in dollars now. Everyday it like a raise to me lately. That's more money I have to spend locally which helps my local economy. I don't see how that is scary or wrong.

And yes, I am moving my reserves to gold (what I haven't bought already) and stock goods.

interesting comment in fox article

On Tuesday, the government offered $100 (euro64) for six months of access to Tamez's one acre, a remaining piece of a Spanish land grant to her family in El Calaboz, according to her attorney, Peter Schey.

I found it interesting that in the article about the fed gov't needing to negotiate with land owners affected by the building of the border fence through Texas, per a judge's order, the offer from the Federal gov't was quoted in dollars and euros. That's the first time I've seen that in an article. The entire article can be found here:

http://www.foxnews.com/story/0,2933,338304,00.html

Was it scary? I live in

Was it scary?

I live in Japan. I can walk into almost any bank and buy several different currencies. My bank Shinsei, let's me hold different currencies in my account. At the moment I hold Yen, Sing, and Aussie.

It's not the end of the world. You should thank the bank for being somewhat international.

have you been paying attention?

It is not the currency that is scary, it is the way our media and our government are behaving. And yes, THAT is scary.

Truth exists, and it deserves to be cherished.

I am going to ask to be paid in Euros!

not really.

There is no way this will fly.

I'm waiting for the feds to kick in the doors of the shops in New York that are taking Euros. It will be on national TV to remind everyone that they will pay the inflation tax by using only US currency.

The big question is why do they want everyone to go down together. Why cause chaos? Things would be much better if they allowed for competing currencies now, before the other one completely fails.

I see this kind of thing and I have to laugh

Then I feel like Nero for doing it. While I worried about the coming of the Amero, they slipped in the Euro. Clever little f**kers!

Truth exists, and it deserves to be cherished.

No NAU, no Amero,,,,welcome the Euro

Hey these banker don't care, it is all the same to them---FIAT money.

F--ix
I--t
A--gain
T-ony

Euros are fiat too!

Don't be stupid, Euros have no real value. Buy basic staples, food, supplies, and for the rich silver and gold. Just get your money out of the market in time.

Fortune Favors the Bold The

Fortune Favors the Bold

The prospect of American citizens turning away from the dollar towards alternate currencies will provide the necessary impetus to the US government to regain control of the dollar and halt its downward spiral. Restoring soundness to the dollar will remove the government’s ability and incentive to inflate the currency, and keep us from launching unconstitutional wars that burden our economy to excess. With a sound currency, everyone is better off, not just those who control the monetary system.

--------------------------------------------------------------------------------

by Dr. Ron Paul - February 13, 2008

Madam Speaker,

I rise to speak on the concept of competing currencies. Currency, or money, is what allows civilization to flourish. In the absence of money, barter is the name of the game; if the farmer needs shoes, he must trade his eggs and milk to the cobbler and hope that the cobbler needs eggs and milk. Money makes the transaction process far easier. Rather than having to search for someone with reciprocal wants, the farmer can exchange his milk and eggs for an agreed-upon medium of exchange with which he can then purchase shoes.

This medium of exchange should satisfy certain properties: it should be durable, that is to say, it does not wear out easily; it should be portable, that is, easily carried; it should be divisible into units usable for every-day transactions; it should be recognizable and uniform, so that one unit of money has the same properties as every other unit; it should be scarce, in the economic sense, so that the extant supply does not satisfy the wants of everyone demanding it; it should be stable, so that the value of its purchasing power does not fluctuate wildly; and it should be reproducible, so that enough units of money can be created to satisfy the needs of exchange.

Over millennia of human history, gold and silver have been the two metals that have most often satisfied these conditions, survived the market process, and gained the trust of billions of people. Gold and silver are difficult to counterfeit, a property which ensures they will always be accepted in commerce. It is precisely for this reason that gold and silver are anathema to governments. A supply of gold and silver that is limited in supply by nature cannot be inflated, and thus serves as a check on the growth of government. Without the ability to inflate the currency, governments find themselves constrained in their actions, unable to carry on wars of aggression or to appease their overtaxed citizens with bread and circuses.

At this country’s founding, there was no government controlled national currency. While the Constitution established the Congressional power of minting coins, it was not until 1792 that the US Mint was formally established. In the meantime, Americans made do with foreign silver and gold coins. Even after the Mint’s operations got underway, foreign coins continued to circulate within the United States, and did so for several decades.

On the desk in my office I have a sign that says: "Don’t steal – the government hates competition." Indeed, any power a government arrogates to itself, it is loathe to give back to the people. Just as we have gone from a constitutionally-instituted national defense consisting of a limited army and navy bolstered by militias and letters of marque and reprisal, we have moved from a system of competing currencies to a government-instituted banking cartel that monopolizes the issuance of currency. In order to introduce a system of competing currencies, there are three steps that must be taken to produce a legal climate favorable to competition.

The first step consists of eliminating legal tender laws. Article I Section 10 of the Constitution forbids the States from making anything but gold and silver a legal tender in payment of debts. States are not required to enact legal tender laws, but should they choose to, the only acceptable legal tender is gold and silver, the two precious metals that individuals throughout history and across cultures have used as currency. However, there is nothing in the Constitution that grants the Congress the power to enact legal tender laws. We, the Congress, have the power to coin money, regulate the value thereof, and of foreign coin, but not to declare a legal tender. Yet, there is a section of US Code, 31 USC 5103, that purports to establish US coins and currency, including Federal Reserve notes, as legal tender.

Historically, legal tender laws have been used by governments to force their citizens to accept debased and devalued currency. Gresham’s Law describes this phenomenon, which can be summed up in one phrase: bad money drives out good money. An emperor, a king, or a dictator might mint coins with half an ounce of gold and force merchants, under pain of death, to accept them as though they contained one ounce of gold. Each ounce of the king’s gold could now be minted into two coins instead of one, so the king now had twice as much "money" to spend on building castles and raising armies. As these legally overvalued coins circulated, the coins containing the full ounce of gold would be pulled out of circulation and hoarded. We saw this same phenomenon happen in the mid-1960s when the US government began to mint subsidiary coinage out of copper and nickel rather than silver. The copper and nickel coins were legally overvalued, the silver coins undervalued in relation, and silver coins vanished from circulation.

These actions also give rise to the most pernicious effects of inflation. Most of the merchants and peasants who received this devalued currency felt the full effects of inflation, the rise in prices and the lowered standard of living, before they received any of the new currency. By the time they received the new currency, prices had long since doubled, and the new currency they received would give them no benefit.

In the absence of legal tender laws, Gresham’s Law no longer holds. If people are free to reject debased currency, and instead demand sound money, sound money will gradually return to use in society. Merchants would have been free to reject the king’s coin and accept only coins containing full metal weight.

The second step to reestablishing competing currencies is to eliminate laws that prohibit the operation of private mints. One private enterprise which attempted to popularize the use of precious metal coins was Liberty Services, the creators of the Liberty Dollar. Evidently the government felt threatened, as Liberty Dollars had all their precious metal coins seized by the FBI and Secret Service this past November. Of course, not all of these coins were owned by Liberty Services, as many were held in trust as backing for silver and gold certificates which Liberty Services issued. None of this matters, of course, to the government, who hates to see any competition.

The sections of US Code which Liberty Services is accused of violating are erroneously considered to be anti-counterfeiting statutes, when in fact their purpose was to shut down private mints that had been operating in California. California was awash in gold in the aftermath of the 1849 gold rush, yet had no US Mint to mint coinage. There was not enough foreign coinage circulating in California either, so private mints stepped into the breech to provide their own coins. As was to become the case in other industries during the Progressive era, the private mints were eventually accused of circulating debased (substandard) coinage, and in the interest of providing government-sanctioned regulation and a government guarantee of purity, the 1864 Coinage Act was passed, which banned private mints from producing their own coins for circulation as currency.

The final step to ensuring competing currencies is to eliminate capital gains and sales taxes on gold and silver coins. Under current federal law, coins are considered collectibles, and are liable for capital gains taxes. Short-term capital gains rates are at income tax levels, up to 35 percent, while long-term capital gains taxes are assessed at the collectibles rate of 28 percent. Furthermore, these taxes actually tax monetary debasement. As the dollar weakens, the nominal dollar value of gold increases. The purchasing power of gold may remain relatively constant, but as the nominal dollar value increases, the federal government considers this an increase in wealth, and taxes accordingly. Thus, the more the dollar is debased, the more capital gains taxes must be paid on holdings of gold and other precious metals.

Just as pernicious are the sales and use taxes which are assessed on gold and silver at the state level in many states. Imagine having to pay sales tax at the bank every time you change a $10 bill for a roll of quarters to do laundry. Inflation is a pernicious tax on the value of money, but even the official numbers, which are massaged downwards, are only on the order of 4% per year. Sales taxes in many states can take away 8% or more on every single transaction in which consumers wish to convert their Federal Reserve Notes into gold or silver.

In conclusion, Madam Speaker, allowing for competing currencies will allow market participants to choose a currency that suits their needs, rather than the needs of the government. The prospect of American citizens turning away from the dollar towards alternate currencies will provide the necessary impetus to the US government to regain control of the dollar and halt its downward spiral. Restoring soundness to the dollar will remove the government’s ability and incentive to inflate the currency, and keep us from launching unconstitutional wars that burden our economy to excess. With a sound currency, everyone is better off, not just those who control the monetary system. I urge my colleagues to consider the redevelopment of a system of competing currencies.

Fortune Favors the Bold

northstar's picture

Some places in New York already accept the Euro ...

... for the public to use as legal tender in America.
-
People worldwide support Dr. Paul too :-)
http://www.pollingmatrix.com

Real eyes realize real lies

We want our country back

Every year is a year for Ron Paul!

Isn't that illegal?

Fortune Favors the Bold

The whole, "no competing currencies thing" that RP is trying to change?

Fortune Favors the Bold

It sure is

It sure is. Not that legal issues have ever stopped anyone from doing what they want to do.

If the dollar is dying, people would be stupid to not use an alternate currency. This is exactly why the FBI confiscated all the Liberty dollars.

The gov't can't confiscate all the Euros. F*** 'em. They did it to themselves.

My Shelfari page

Wrong --- it is NOT illegal!

Wrong --- it is NOT illegal! Sadly, the concept of "legal tender" has been corrupted and bastardized over the years. Originally, it only meant that the currency in question was good for payment of DEBTS (or taxes) to the government, later, that it was good for payment of ALL debts, public and private (as stated on the currency itself). Only still later did the statist, corrupted concept of legal tender come in as something that MUST be accepted in payment for a private transaction.

Still, legal tender laws are rarely enforced, as demonstrated by those businesses that (stupdly) post such signs as "No bills larger than $50 accepted", etc.

northstar's picture

It should be illegal, here's a link :

http://www.reuters.com/article/domesticNews/idUSN06557983200...
-And-
http://www.liveleak.com/view?i=784_1204043381
-
People worldwide support Dr. Paul too :-)
http://www.pollingmatrix.com

Real eyes realize real lies

We want our country back

Every year is a year for Ron Paul!

The Euro is going to

get dragged down into this mess as well.

--------------------------------
"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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Where do you live?

And you going to go there tomorrow and ask them what's up with that?! Be sure to take a picture of the sign for us, k? :)

I took a picture

Where would you like me to send it?

LISTEN UP!!!

Don't start using or accepting Euros unless you wanna become a part of the European Union. The NWO would just LOVE for you to start moving in the direction of their most recent sovereignty-destroying accomplishment. Buy silver, and if you must, accept it as currency. Do not start replacing your crappy, fiat currency with another.

I'll second that

I would love to see an ecomonic underground develop - nothing but barter and old silver coins for currency. Gold if you are making a big purchase! If we agree to use the US coins, but WEIGH them and assign the value that way, it is not a competing currency!

Truth exists, and it deserves to be cherished.

That's everyones goal I'm sure

Barter and currencies based on barter/commodities should be everyones goal. We need more exchanges to make it easier, and you have to start thinking about communications. Once you think about communications you have the internet, the mail, radios, phones, or a bbs type system. Can you trust that any of these will stay up once the economy goes down?

There's a good starting point. The person(s) that can help keep a stable communications system going is the most likely to succeed. Exchanges can be built, but they need proper communication lines to work.

Start thinking communications and exchanges based on those communication lines.