by Tim Brown, Freedom OutPost:
This is always going to be a problem as long as the federal government continues to not follow the Constitution regarding constitutional money and print fiat money. Still, while the Federal Reserve continues to go against President Donald Trump, even though he nominated the Fed chairman, the state of Kansas has chosen to do what the Constitution demands and other states have done and that is to recognize gold and silver as actual money.
Kansas House Representative Michael Capps introduced legislation HB 2285 which would force the state of Kansas to recognize precious metals, such as gold and silver, as currency in the state.
The move is a constitutional one that if representatives understood the US Constitution should support wholeheartedly.
The Constitution explicitly says:
Article I Section 10
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
Yet, what are we paying with today? That’s right, paper “I owe yous.”
According to the 46-page legislation, which addresses the Kansas legal tender act, it is a, “reaffirmation of gold and silver coin as legal tender; exempting specie from Kansas sales taxation; income taxation subtraction modification for gains from the sale of specie; amending K.S.A. 2018 Supp. 79-32,117 and 79-3606 and repealing the existing sections.”
Trump has said that the Federal Reserve is sabotaging the US economy.
If you recall, Trump tweeted back in December, “The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!”
The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!
— Donald J. Trump (@realDonaldTrump) 24 December 2018
So, how would this work out practically? The Tenth Amendment Center explains:
In 2011, Utah became the first state in over 80 years to pass a law making gold and silver coin legal tender. The following year, the legislature followed up, approving a bill clarifying several tax measures and more importantly, expanding the definition of specie to include gold and silver coin approved by the state. With the law in place, United Precious Metals Association (UPMA) opened a “gold bank” that offers publicly available accounts denominated in gold and silver dollars in Utah. According to the UPMA, in the past year, it has grown 700 percent in assets under management and made up 2 percent of the market for U.S gold and silver coins. Account holders can make everyday transactions using their accounts through a debit card system.