Montana Legislative Discussing Gold & Silver as legal tender in State
Submitted by BigSkyGuy on Thu, 03/12/2009 - 11:38
The hearing is currently in progress. If you have Real Player, you can listen to the Montana Legislative Discussing Gold & Silver as legal tender in the State of Montana.
This is in reference to HB 639 - Hearing 03/12/2009
ALLOWING THE STATE OF MONTANA AND POLITICAL SUBDIVISIONS TO CONDUCT VARIOUS FINANCIAL TRANSACTIONS IN GOLD, GOLD AND SILVER COIN, ELECTRONIC GOLD CURRENCY, OR LEGAL TENDER OF THE UNITED STATES
This is the link:
http://leg.mt.gov/css/Audio/audio_broadcast.asp
Audio Link is State Administration
9:00:00 AM
Room 455
I am also recording this Hearing. I will post the link later.
Other states where this is happening?
New Hampshire, Indiana, Colorado, Missouri, Georgia, Nevada (failed).
http://news.goldseek.com/GoldSeek/1234543800.php
I find this an interesting move since it may actually give states the means to partially comply with Article 1, Section 10 "No state shall ... make any Thing but gold and silver Coin a Tender in payment of Debts...."
The federal government took away gold and silver coins as money, gold during the depression of the 1930's when FDR made gold illegal for US citizens and gave them federal reserve notes for it instead, and silver in 1964 when silver coins and silver certificates were replaced with base metal coins or federal reserve notes.
If the banks fail (should I say "when") and our money system collapses, then it will be important to have a medium of exchange that works, and this legislation is setting up the structure for that to work electronically, similarly to how PayPal works with dollars today.
I think this is more significant than the moves of states to send resolutions to the federal government warning them about intrusions on the 10th amendment. This legislation is more than just whining to the federal government.
It's the best defense states have...
...Against Hyperinflation. This is not just an ideological idea (okay, yeah it is), but it also makes practical sense.
I 'sell' the idea to people by calling it the 'spare tire': It's better to have a backup currency and not need it than to need a backup currency and not have it. Give it a try: they can always switch back, and the worst thing that can happen is the State Treasury has a whole bunch of precious metals in its vault they can sell later.
Life, Liberty, Property
Yes...
It's going to get interesting, indeed. I have the audio, but I have to figure out where to put it since it is 1 hour and 16 minutes and about 85MB. there were no opponents at the hearing,
A compelling testimony was given to the House by Lawrence M. Parks, Executive Director, Foundation for the Advancement of Monetary Education (FAME)
Mr. Park's presentation was great.
And at 6:30 into the audio, Mr. Park's states:
"There is only one politician at the national level who has raised any of these issues, and that's Congressman Ron Paul, our hero in the Congress from texas. He is the only one to talk about the depreciation of the dollar, and the perils of the fiat money, and... typically what the financial guys have done is that they've tried to position him as if he's some kind of kook... but Dr. Paul has this correct."
We'll see if it goes any further.
I found it also interesting that the Montana Legislature also had interesting bills moving through... HB 712: The Montana Sovereignty Protection Act; Rejecting the authority of the United Nations over the territory or people of Montana. (which was tabled for the moment), HJ 26: Affirming States' Rights & Condemning Encroachment of those rights by the Federal Government and Executive Orders. (No further action on this one, which means it's Probably Dead), HB 246: Exempt Montana-made firearms and ammunition from commerce clause. (Still in hearings), and HB 228: Citizen self-defense and firearm rights. (Which has a hearing on 3/17.)
Would appreciate hearing this meeting BigSkyGuy
when available. Thanks.
File is here for download...
File Name: MT_HB639_Hearing031209.mp3 (87.84 MB)
URL: http://www.mediafire.com/?2cm2msgg52x
What is going on here? Missouri also has HB 561.
Does someone know who and what is behind these bills to establish procedures for states and political subdivisions to use establish electronic gold accounts and provide for their use by the states? Looks to me like someone is figuring that we will need to go back to use of gold as money and the states want to be geared up to use it themselves.
I just emailed my Missouri Representative and ask him to get behind this legislation which will soon be going to the House floor for vote. It has already been favorably voted out of Committee.
Well, I've been pushing it one state Rep at a time for a year.
I'm sure others are too.
"Electronic Gold" is a way for the states to issue gold backed currency without having their citizens carry five pounds of silver around with them to the grocery store. It COULD work in theory, as long as it was 100% backed by the State (No Fractional Reserve, or we are right back to square one again).
Life, Liberty, Property
Excellent
I look forward to hearing what they have to say on this. Just having the discussion is a great step in the right direction.
Ta,