South Carolina Lawmaker Seeks to Ban Federal Currency

[Mr.Fitnah]

South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.

As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.

In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."

"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."



Really?
Ill bet you just think hes crazy

 

[RetiredGySgt]

South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.

As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.

In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."

"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."



Really?
Ill bet you just think hes crazy

We do not make gold coins anymore. And silver is not really used either. By the way? The State can not mandate to the Federal Government what is and is not Legal tender.

 

[Mr.Fitnah]

I think something like this aught to alert DC that the people are tired of the DC monkey business

 

[uscitizen]

Yeah that will go over about as well as a truckload of dead babies on mothers day.

 

[Oddball]

They may not have to pass any law.

There's enough junk coin out there being horded that people could start buying and selling without using FRNs.

 

[Mr.Fitnah]

South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.

As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.

In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."

"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."



Really?
Ill bet you just think hes crazy

We do not make gold coins anymore. And silver is not really used either. By the way? The State can not mandate to the Federal Government what is and is not Legal tender.

Gold American Eagle Coins, Gold Eagle Coin, US Gold Bullion Coins - Golden Eagle Coins

The Government turned all that over to a private institution .
The Federal reserve bank

 

[uscitizen]

South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.

As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.

In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."

"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."



Really?
Ill bet you just think hes crazy

We do not make gold coins anymore. And silver is not really used either. By the way? The State can not mandate to the Federal Government what is and is not Legal tender.

Gold American Eagle Coins, Gold Eagle Coin, US Gold Bullion Coins - Golden Eagle Coins

The Government turned all that over to a private institution .
The Federal reserve bank

I have gold eagles. Thanks for the link I did not realize they had gone up 100% since I got them. That works out to about 33% per year. Not bad, but I got them for stability.

Gave a few away as presents last Christmas.

 

[SpidermanTuba]

The Government turned all that over to a private institution .
The Federal reserve bank

The Federal Reserve System is a government institution. You can tell so by the extension at the end of its internet address


Board of Governors of the Federal Reserve System

 

[Mr.Fitnah]

The Government turned all that over to a private institution .
The Federal reserve bank

The Federal Reserve System is a government institution. You can tell so by the extension at the end of its internet address


Board of Governors of the Federal Reserve System

The Board of Governors is a federal agency It is the the Federal reserve bank.

According to the Fed, there are presently five parts of the Federal Reserve System:[12]
1.The presidentially appointed Board of Governors, a governmental agency in Washington, D.C.
2.The Federal Open Market Committee (FOMC), which oversees Open Market Operations, the principal tool of national monetary policy.

3.Twelve regional privately-owned Federal Reserve Banks located in major cities throughout the nation, which divide the nation into 12 districts, acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors.

4.Numerous other private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks.

5.Various advisory councils.[13]

 

[SpidermanTuba]

The Government turned all that over to a private institution .
The Federal reserve bank

The Federal Reserve System is a government institution. You can tell so by the extension at the end of its internet address


Board of Governors of the Federal Reserve System

The Board of Governors is a federal agency It is the the Federal reserve bank.

According to the Fed, there are presently five parts of the Federal Reserve System:[12]
1.The presidentially appointed Board of Governors, a governmental agency in Washington, D.C.
2.The Federal Open Market Committee (FOMC), which oversees Open Market Operations, the principal tool of national monetary policy.

3.Twelve regional privately-owned Federal Reserve Banks located in major cities throughout the nation, which divide the nation into 12 districts, acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors.

4.Numerous other private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks.

5.Various advisory councils.[13]

I'm not sure "privately owned" is appropriate:

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

 

[Mr.Fitnah]

The Federal Reserve System is a government institution. You can tell so by the extension at the end of its internet address


Board of Governors of the Federal Reserve System

The Board of Governors is a federal agency It is the the Federal reserve bank.

According to the Fed, there are presently five parts of the Federal Reserve System:[12]
1.The presidentially appointed Board of Governors, a governmental agency in Washington, D.C.
2.The Federal Open Market Committee (FOMC), which oversees Open Market Operations, the principal tool of national monetary policy.

3.Twelve regional privately-owned Federal Reserve Banks located in major cities throughout the nation, which divide the nation into 12 districts, acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors.

4.Numerous other private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks.

5.Various advisory councils.[13]

I'm not sure "privately owned" is appropriate:

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

It is a monstrosity that must be killed

"If the people ever allow the banks to issue their currency, the banks and corporations which will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered."
Thomas Jefferson

 

[uscitizen]

"If the people ever allow the banks to issue their currency, the banks and corporations which will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered."
Thomas Jefferson


Pretty prophetic...
But even back then most of America's growth was thru foreign investment.

 

[blu]

end the fed and the spiral effect will be amazing. no more entitlement programs, no more military industrial complex, no more "big government" as money can't just be created out of thin air.

 

[uscitizen]

end the fed and the spiral effect will be amazing. no more entitlement programs, no more military industrial complex, no more "big government" as money can't just be created out of thin air.

You want cooked cabbage or gruel for supper?

 

[RetiredGySgt]

end the fed and the spiral effect will be amazing. no more entitlement programs, no more military industrial complex, no more "big government" as money can't just be created out of thin air.

Ya cause Anarchy is SO MUCH BETTER.

 

[uscitizen]

end the fed and the spiral effect will be amazing. no more entitlement programs, no more military industrial complex, no more "big government" as money can't just be created out of thin air.

Ya cause Anarchy is SO MUCH BETTER.

I hate to say it but you have a point.

 

[blu]

end the fed and the spiral effect will be amazing. no more entitlement programs, no more military industrial complex, no more "big government" as money can't just be created out of thin air.

Ya cause Anarchy is SO MUCH BETTER.

do you seriously equate ending the fed with anarchy? sound money == anarchy now??

 

[SpidermanTuba]

The Board of Governors is a federal agency It is the the Federal reserve bank.

According to the Fed, there are presently five parts of the Federal Reserve System:[12]
1.The presidentially appointed Board of Governors, a governmental agency in Washington, D.C.
2.The Federal Open Market Committee (FOMC), which oversees Open Market Operations, the principal tool of national monetary policy.

3.Twelve regional privately-owned Federal Reserve Banks located in major cities throughout the nation, which divide the nation into 12 districts, acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors.

4.Numerous other private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks.

5.Various advisory councils.[13]

I'm not sure "privately owned" is appropriate:

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

It is a monstrosity that must be killed

"If the people ever allow the banks to issue their currency, the banks and corporations which will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered."
Thomas Jefferson

Who would you prefer issue currency? The politicians?

 

[blu]

end the fed and the spiral effect will be amazing. no more entitlement programs, no more military industrial complex, no more "big government" as money can't just be created out of thin air.

You want cooked cabbage or gruel for supper?

normal people will live just fine with sound money. the corrupt banking cartels and the politicians that serve them will be knocked down quite a few notches though

 

[RetiredGySgt]

end the fed and the spiral effect will be amazing. no more entitlement programs, no more military industrial complex, no more "big government" as money can't just be created out of thin air.

Ya cause Anarchy is SO MUCH BETTER.

do you seriously equate ending the fed with anarchy? sound money == anarchy now??

DO you seriously think 50 small new Nations will last long in the world? Almost none of which are self sufficient?