MP3 | A Sound Currency Strategy: State by State
Posted April 9th, 2008 by goldenequity
A good friend of Dr. Ron Paul and long time expert and coveted advisor and speaker on Constitutional Law and Monetary reform, you may recognize the voice of Dr. Edwin Vieira from America: Freedom to Fascism. He was the expert that spoke to Aaron Russo several times throughout the film, sitting on a couch.
Basically, the first State smart enough to adopt his strategy, will become a magnet for capital investment and can take advantage of building their own State fiscal protection against Federal Reserve failures and a collapsing dollar.
Sound far fetched? It's easier than you might think. State legislators around the country would do well to listen to this man. Activists with State connections should take notice.
This conference call took place Tuesday, April 8th. What a treasure of information. You might keep a pen and paper handy during the listen as Dr. Vieira gives out domain sites and referenced reading. (2hrs 20min)
You can Listen here:
www.ronpaulaudio.com
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I agree with the idea but
I think we will be waiting till the cows come home for a state to actually adopt this short of a full nationwide economic collapse. To be sure, any state that does this will have a huge increase in capital investment and it would be a gigantic booster shot to their economy.
But we don't have to wait for state governments to act. We can do this all on our own legally.
Look up the recent IRS case in another thread about how an employer paid his workers in old Gold and Silver coins and since the face value was lower, no one incurred any income tax liability. The IRS is forced to valuate any current coins of the U.S. at face value. The metal content is irrelevant for monetary purposes. (but not investment purposes)
This practice could easily spread, and small shop owners could easily be convinced to accept the old coins at a fair market exchange rate, possibly even repricing their goods entirely in 'real dollars' and then posting an exchange rate if someone wanted to pay in depreciating paper. Of course the benefit to them is they could legitimately take a business loss and eliminate or significantly reduce their income and sales tax burdens. They can then pay whatever taxes they do owe in depreciating paper. The IRS is stuck here. Sorry fellas.
Banks of course won't and can't take the coins, or worse, will give you face value credit and not pay them back out. But in the meantime, merchants can keep them for payroll, petty cash, register change, and maybe even pay their suppliers or local services companies with them. Coin shops would serve as exchange houses for other currencies or denominations if need be. And if a bank received a state only charter and refused Federal Reserve membership, they could take and pay out such coins without federal restrictions. (they can also avoid the Patriot Act and other ridiculous regulations if I am not mistaken)
All of this is 100% legal, backed by law even, and as long as the coins are circulating, even the Pres can't claim the people are 'hoarding' and try to seize the coins again. In fact, it will be impossible to argue against the stability they will bring to the economy.
The Secretary of the Treasury is even required by law to mint enough coins, even gold and silver ones, to meet demand. We need to increase that demand.
The Founders were if anything amazed at how fast the requirement of sound money restored their economy after implementing the Constitution.
We can do so again.
If Money was sound
backed by gold, silver and other metals, then there would be no common paper currency.
The only common thing about the paper currency would be that it would be redeemable in whatever metal it was backed by.
As long as the retailer saw currency was backed and created by reputable currency exchangers he would accept it, regardless of where paper currency was created.
Davy C Rockett
http://www.thelibertypost...
http://screamfreedom.blog...
http://liberty-central.bl...
Is Vieria's plan to move the power for money from the federal...
government to the state government?
If so, it would be an improvement. But it's definitely not wise to leave the control of money in the hands of a government--even if it's local.
Here's a better plan:
a) Have an individual state repeal the Federal Reserve's coercive legal tender law inside its boundaries.
b) Remove taxes on transactions of commodities (gold, silver, etc) inside its boundaries.
c) This leaves people free to use the money of their choosing inside their state.