Senator DeMint Introduces National Sound Money Act

Discussion in 'Politics' started by Lars, Jun 29, 2011.

  1. Lars
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    Lars Member

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    In a bid to up the ante on which state is leading on the honest/sound money initiative, South Carolina Senator Jim DeMint and the South Carolina Sound Money Committee today announced national legislation to restore sound money to the states. Kentucky Senator Rand Paul, and Utah Senator Mike Lee have also signed on as co-sponsors of the bill.

    This is legislation that the Honest Money Center will aggressively promote. It will open the door for sound money in the states and level the playing field with Federal Reserve Notes, giving states a safety net in the event of a U.S. dollar crisis, which many are concerned is inevitable.

    See the text of the bill.
    http://www.honestmoneycenter.org/pdf/SoundMoneyPromotionActMAT11496.pdf
    The press release reads as follows:

    "Senator DeMint’s bill will cause gold and silver coins to be used as legal tender in the same manner as United States currency for taxation purposes."

    The South Carolina Sound Money Committee lauds Senator Jim DeMint for his sponsoring the bill on June 28 to remove gold and silver transactions from federal taxes since gold and silver are money as defined by the US Constitution. Senator DeMint’s bill is a big event and will propel our issue onto the national stage given the respect and prominence Senator DeMint enjoys nationally. We are proud of him.

    Art 1, Sec 10, clause 1 of the US Constitution is directed to the states. The founders wisely gave the states another check on the uncontrolled power at the federal level by adding the phrase, “No state shall…coin money…or make anything but gold and silver coin a tender in payment of debts…” Yes, the remedy for the monetary crisis is at the state level and South Carolina can take measures to protect herself and her citizens.

    Finally, we are proud of our chief legislative sponsors, Rep. Mike Pitts and Sen. David Thomas as they took a risk to sponsor sound money bills in SC. There are now 13 co-sponsors in the SC House. We are happy to report that a recent poll done in SC by the American Principles Project shows that 47% of SC citizens support a return to the gold standard; 39% oppose, with 11 % undecided.
    “Words and actions must match, Senator DeMint has demonstrated political courage with his action of filing this bill.” — Dr. F. Steven Isom on behalf of the South Carolina Sound Money Committee.

    The South Carolina Sound Money Committee calls for swift passage of all 3 bills.

    Senator DeMint’s web site offers these comments.
    http://demint.senate.gov/public/index.cfm?p=PressReleases&ContentRecord_id=8da42323-9b6e-45d7-8695-56d21bb3fa53


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