Sound Money

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Toto
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Sound Money

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Arizona Committee Passes Bill To Support Sound Money
by Mike Maharrey, Activist Post:

An Arizona bill that would eliminate state capital gains taxes on gold and silver specie, and encourage its use as currency, passed an important House committee today. Final approval of the legislation would help undermine the Federal Reserve’s monopoly on money.

Rep. Mark Finchem (R-Tucson) introduced House Bill 2014 (HB2014) on Jan. 9. The legislation would eliminate state capital gains taxes on income “derived from the exchange of one kind of legal tender for another kind of legal tender.” The bill defines legal tender as “a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.” “Specie” means coins having precious metal content.

brianj
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Re: Sound Money

Post by brianj »

While I think we all can agree that buying and selling bullion as an individual should be exempted from tax, this goes a lot further than I would expect. I know a lot of investors will move money into an overseas account, in the currency of the host country when they think the dollar will decline relative to that currency, then repatriate the money and convert it back into USD when they think the dollar will strengthen. I am surprised they are allowing this to be untaxed.

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Toto
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Re: Sound Money

Post by Toto »

I'm not a big fan of trading in and out of paper currencies for a supposed profit, or investing in precious metals for financial gain. I advocate for returning to sound money as a medium of exchange to facilitate commerce, provide for free market capitalism, put an end to the insurrection of the Federal Reserve, and restore constitutional government for the united states of America.

And while we're at it we can throw the IRS in the dustbin of history, along with the Federal Reserve. :D

Give a man a gun and he can rob a bank. Give a man a bank, and he can rob everybody.

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Toto
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Re: Sound Money

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Utah Bill Sets Stage For State Gold Depository, Further Encourages Use Of Metals As Money

by Tyler Durden
Feb 3, 2017 12:54 PM

Submitted by Mike Maharrey via The Tenth Amendment Center

A bill introduced in the Utah legislature would build on the state’s Legal Tender Act, creating a foundation for further action to encourage the use of gold and silver as money, and take another step toward breaking the Federal Reserve’s monopoly on money.

Rep. Ken Ivory (R-West Jordan) introduced House Bill 224 (HB224) on Jan. 27. The legislation would add several provisions to state law designed to encourage the use of gold and silver as legal tender. Passage would set the stage for expansion of gold repositories in the state and authorize further study on several sound money policies.

Specifically, HB224 would authorize the investment of public funds in specie legal tender held in a commercial specie repository. Under existing code, “specie legal tender” means gold or silver coin and bullion. “Commercial specie repository” means an institution that holds or receives deposits of specie legal tender that is located within the state. Practically speaking, passage would give the state the option to hold funds in gold and silver instead of Federal Reserve notes.

The legislation would also direct the State Money Management Council to make rules governing quality criteria for a commercial specie repository, in consultation with the state auditor.

A “GOLD BANK” FOR UTAH

Gov. Greg Abbot signed legislation creating a Texas gold bullion and precious metal depository in June of 2015. The facility will not only provide a secure place for individuals, business, cities, counties, government agencies and even other countries to to store gold and other precious metals, the Texas law also creates a mechanism to facilitate the everyday use of gold and silver in business transactions. In short, a person will be able to deposit gold or silver – and pay other people through electronic means or checks – in sound money.

Ivory said “secure public transaction is the ultimate goal” in Utah as well.

In fact, the United Precious Metals Association (UPMA) already 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.

“Despite a couple of zerohedge articles, most people remain unaware of Utah’s gold bank,” UPMA head of sales and marketing Jeremy Cordon said. “We are a few years ahead of Texas.”

According to Cordon, passage of HB224 would give UPMA and similar repositories a special recognition by the state, and that would likely expand the market for their services. The state of Utah will also be able to hold legal tender gold and silver in such repositories under the proposed law.

HB224 would also authorize Federal Fund Commission “to study and assess the taxpayer reporting requirements for specie legal tender income and the remittance of taxes on specie legal tender income; the collection of severance taxes in specie legal tender for taxes assessed under Section 59-5-202 on gold and silver production; and (viii) the issuance of bonds denominated and payable in specie legal tender for the purpose of retiring existing government debt.”

LEGAL TENDER

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 clarifing several tax measures and more importantly, expanding the definition of specie to include gold and silver coin approved by the state.

Passage of HB224 would take the next step forward and further open the door for the use of gold and silver in everyday transactions in the state.

In a speech to the UPMA announcing the legislation, Ivory emphasized the connection between sound money and liberty. He told the story of a woman who tried to pay her bill at Walmart with gold coins. The cashier told her she needed “real money.” When the lady went to the bank, the teller gave her face value for the 14 Double Eagle coins – $280. The value of the gold itself was over $20,000.

“Think about where we are when we don’t understand the value. The nature of our property, the nature of our liberty embodied and represented in money that has a fixed standard.”

IMPACT ON FEDERAL RESERVE

The United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” States have simply ignored this constitutional provision for years. It’s impossible for states to return to a constitutional sound money system when it taxes gold and silver as a commodity.

State actions like Utah’s Constitutional Tender Act, and the creation of a bullion depository in Texas take steps toward that constitutional requirement, ignored for decades in every state and sets the stage to undermine the monopoly of the Federal Reserve by introducing competition into the monetary system.
By making gold and silver available for regular, daily transactions by the general public, the state depositories create the potential for wide-reaching effect. Professor William Greene is an expert on constitutional tender and said in a paper for the Mises Institute that when people in multiple states actually start using gold and silver instead of Federal Reserve notes, it would effectively nullify the Federal Reserve and end the federal government’s monopoly on money.

“Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a ‘reverse Gresham’s Law’ effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes).

“As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions.”

Once things get to that point, Federal Reserve notes would become largely unwanted and irrelevant for ordinary people. Nullifying the Fed on a state by state level is what will get us there.

NEXT

HB224 was referred to the House Rules Committee, where it must pass by a majority vote before being referred to a standing committee for further consideration.

Watch Rep. Ivory’s Speech https://www.youtube.com/watch?v=74v7hqxgOQM" onclick="window.open(this.href);return false;

Alert! New bill to legalize Gold and Silver as Money In Utah

Silver Report
https://www.youtube.com/watch?v=nHsMI4kQUlo" onclick="window.open(this.href);return false;

:D

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Toto
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Re: Sound Money

Post by Toto »

2017 Gold and Silver Price

You have to define the gold price. The paper price for gold is not the gold price. All paper assets lose their value. Will see a widening divergence between paper and physical gold price. You cannot get extremely large purchases, over 100 million dollars, under 2,500 USF (fiat) an ounce for the bars.
-- Jim Willie - Dec. 16, 2016 interview with Sprott Money News https://youtu.be/Cl7OgfmjDUc?t=338" onclick="window.open(this.href);return false;
Web Bot Trends : 2017 Gold and Silver Price Predictions from Ten Experts
https://www.youtube.com/watch?v=Cl7OgfmjDUc" onclick="window.open(this.href);return false;

USF to Gold Ratio - $8,960 PER OZ.
USF to Silver Ratio - $983 PER OZ.
http://www.usdebtclock.org/#" onclick="window.open(this.href);return false;

Tithing: Pay with silver coins…
$8.00 face value of US silver coins worth USF $100.00
http://www.silverandgoldaremoney.com/" onclick="window.open(this.href);return false;

Helaman 6:
7 And behold, there was peace in all the land, insomuch that the Nephites did go into whatsoever part of the land they would, whether among the Nephites or the Lamanites.

8 And it came to pass that the Lamanites did also go whithersoever they would, whether it were among the Lamanites or among the Nephites; and thus they did have free intercourse one with another, to buy and to sell, and to get gain, according to their desire.

9 And it came to pass that they became exceedingly rich, both the Lamanites and the Nephites; and they did have an exceeding plenty of gold, and of silver, and of all manner of precious metals, both in the land south and in the land north.
--Posted by Silver: viewtopic.php?f=1&t=44864&p=766158#p766158" onclick="window.open(this.href);return false;


Prices and Wages by Decade: 1910-1919
https://babel.hathitrust.org/cgi/pt?id= ... =1up;seq=9" onclick="window.open(this.href);return false;

Inflation Calculator
https://data.bls.gov/cgi-bin/cpicalc.pl" onclick="window.open(this.href);return false;

Organizations utilizing precious metals in commerce:

Utah Precious Metals Association
https://upma.org/" onclick="window.open(this.href);return false;

Gold Money
https://www.goldmoney.com/" onclick="window.open(this.href);return false;

Silver
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Re: Sound Money

Post by Silver »

Toto wrote:Tithing: Pay with silver coins…
$8.00 face value of US silver coins worth USF $100.00
http://www.silverandgoldaremoney.com/" onclick="window.open(this.href);return false;
Years ago my dad tried to pay tithing with a few small gold coins. The bishop, as well as the ward and financial clerks, had a litter of kittens. They came to the house after church to return them to my dad and begged him not to do that again.

If I paid tithing now with pre-1965 coins, the financial clerk would only give me credit for face value. I'll save my limited silver for this day:

"Even though American citizens would still be forced by law to honor the same pieces of paper as though they were real money, instinctively they would rush and convert their paper currency into tangible material goods which could be used as barter. As in Germany and other nations that have previously traveled this road, the rush to get rid of dollars and acquire tangibles would rapidly accelerate the visible effects of inflation to where it might cost one hundred dollars or more for a single loaf of bread. Hoarded silver coins would begin to reappear as a separate monetary system which, since they have intrinsic value would remain firm, while printed paper money finally would become worth exactly its proper value-the paper it is printed on! Everyone's savings would be wiped out totally. No one could escape." (close quote) Ezra Taft Benson

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Toto
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Re: Sound Money

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I was thinking that if HB224 passed, and a State depository established, the church would have a vehicle to use (constitutional) Money, so that members who wished to pay tithing in Silver and Gold Coin could do so, with a clear conscious, and the Church would be able use the Money in commerce, rather than trying to build the Church with a “promise to pay.” It seems wise as the Church would have Money to use in the day of which ETB spoke in your quotation above.

But I share your sentiments about hanging on to what little Money I have, as insurance, and for the same reason.

As for now, and the reason I listed the UPMA and Gold Money in my post above is because, to me, it’s an indication that we are actually moving in that direction now.

In my business affairs, in my entire working life, I have only been paid with Money once. That was back about 2004. Last year, I paid labor to a gentleman who accepted Silver Coin as payment for his labor. It is encouraging that at least some people are starting to wake up, but trying to educate folks about the issue is like talking to a brick wall most of the time. Cognitive dissonance is high. It seems the only thing that will wake the Elders is an economic crash.

There was a bit of irony about the coins I was paid above. It was actually a tip for the job. He gave me a choice between a day rental of a Harley Davidson, or silver. I took the silver. :D My client had found some silver rounds from the Constitution mint at Provo Utah. On the front side was the U.S.S. Constitution, and on the back side, Article 1 Section 10 of the US Constitution. http://www.apmex.com/product/67006/1-oz ... ution-ship" onclick="window.open(this.href);return false; Then later, when Utah’s Constitutional Tender Act was passed, those coins became a legal tender in the State of Utah.

Honest Value Never Fails

It felt good to know that at least one guy was listening.

There’s a lot more to my involvement on this issue. I have an agenda. But for the sake of brevity and the nature of this type of discussion, I’ll leave it there for now.

The question is, will we wake up and return to sound money, or transition into the cashless society and total enslavement? I don’t think it will be too long before we find out, but right now it seems like the vast majority are still scheduling a trip to the woodshed.

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Toto
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Re: Sound Money

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What is a dollar?

In fact, it's easy enough to show, and it's impossible to refute, that a dollar is a specific silver coin containing three hundred seventy-one and a quarter grains of fine silver. It's always been that way, at least since the beginning of the American Republic. The Constitution fixes the monetary unit of the United States as this dollar, and it empowers Congress to coin silver and gold coins, the values of which have to be regulated in relation to the dollar. And it very specifically prohibits the government from issuing what the Founding Fathers called "bills of credit" -- what we would call today paper currency that's redeemable in silver or gold. And the Constitution also outlaws any form of legal tender except silver and gold coins. Thus, from the perspective of the Constitution and most of American history, it is really senseless to talk about making the dollar redeemable, or to talk about adopting a silver- or a gold-backed dollar. The very fact that so much debate on the Federal Reserve system focuses on this really senseless point demonstrates how totally ignorant most of the people are about the subject of American money.
--Edwin Vieira Jr.
Official transcript of an address to the convention of the National Coalition to Reform Money and Taxes in Denver, Colorado
http://www.supremelaw.org/library/vieira.html" onclick="window.open(this.href);return false;

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Toto
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Re: Sound Money

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Arizona Bill To Support Sound Money Passes Second Committee, 8-0

An Arizona bill that would eliminate state capital gains taxes on gold and silver specie, and encourage its use as currency, passed a second important House committee today. Final approval of the legislation would help undermine the Federal Reserve’s monopoly on money.

Rep. Mark Finchem (R-Tucson) introduced House Bill 2014 (HB2014) on Jan. 9. The legislation would eliminate state capital gains taxes on income “derived from the exchange of one kind of legal tender for another kind of legal tender.” The bill defines legal tender as “a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.” “Specie” means coins having precious metal content.

http://www.activistpost.com/2017/02/ari ... e-8-0.html" onclick="window.open(this.href);return false;

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Toto
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Re: Sound Money

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The creation of the Federal Reserve System in 1913 did not make Federal Reserve Notes politically independent or politically neutral; it merely changed the political character of the money system by empowering a small, unelected clique of self-styled experts and private bankers to control the supply of Federal Reserve Notes, interest rates, and all the other monetary and banking phenomena. So, as contrasted with the constitutional system, the Federal Reserve System actually politicized money, because it enabled politicians, administrators, and a few very specially selected special interest groups to exercise the very influence over this country's money and banking systems that the Constitution had originally disallowed. People seem to accept the description of the Federal Reserve System as "politically independent" because, although control of the monetary and banking systems has serious political significance, the apologists of the Federal Reserve System have been extremely successful, in the last seventy or so years, in simply removing money and banking issues from the agendas of the political parties, the candidates, and anybody else who is out there on the political platform or in the political arena.

There just is no public political discussion about these issues anymore. Yet it's of vital political importance that no serious political movement now proposes the immediate restoration of our constitutional money system. It's of vital political importance that no serious political movement demands that all paper currency of private banks be true fiduciary monies, that is, redeemable in silver or gold. It's of vital political importance that no serious political movement attacks fraudulent fractional reserve banking. It's of vital political importance that no serious political movement denounces the incestuous relationship between the government and the banking industry through the Federal Reserve, the FDIC, or whatever other alphabet agencies will be coming along, as this system explodes on them. It's of vital political importance that no serious political movement challenges the government's use of the monetary and banking system to regulate the economy and to impose pervasive police-state surveillance on individuals. And it's of vital political significance that the general public is simply unable to devise any kind of strategy for dealing with the Federal Reserve System as a supposed agency of the government. I include here the Congress; they are no big deal for the Federal Reserve System. The Federal Reserve System, when it testifies before Congress, tells Congress what the policy is going to be, not the other way around, all right? Nobody has a handle on this agency. Obviously, a group that could completely excise all of these matters from political discourse in the United States, without complaint by any significant part of the public, must be very, very powerful. How the apologists for the Federal Reserve were successful in stifling political debate, the history books really don't explain very well, and I think with good reason.


--Edwin Vieira Jr. August 30, 1991
Official transcript of an address to the convention of the National Coalition to Reform Money and Taxes in Denver, Colorado
http://www.supremelaw.org/library/vieira.html" onclick="window.open(this.href);return false;

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Toto
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Re: Sound Money

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UTAH MAY SOON DUMP FEDERAL RESERVE: “PUT TRUST BACK IN GOD AND GOLD, RATHER THAN CENTRAL BANK”

[2/7/17] MAC SLAVO-States fed up with the phony, manipulated central bank currencies are starting to move away from the failing system – and prepare to hedge themselves against the worst case scenarios of monetary collapse.

According to the 10th Amendment Center:
A bill introduced in the Utah legislature would build on the state’s Legal Tender Act, creating a foundation for further action to encourage the use of gold and silver as money, and take another step toward breaking the Federal Reserve’s monopoly on money.

Rep. Ken Ivory (R-West Jordan) introduced House Bill 224 (HB224) on Jan. 27. The legislation would add several provisions to state law designed to encourage the use of gold and silver as legal tender. Passage would set the stage for expansion of gold repositories in the state and authorize further study on several sound money policies.

Specifically, HB224 would authorize the investment of public funds in specie legal tender held in a commercial specie repository. Under existing code, “specie legal tender” means gold or silver coin and bullion. “Commercial specie repository” means an institution that holds or receives deposits of specie legal tender that is located within the state. Practically speaking, passage would give the state the option to hold funds in gold and silver instead of Federal Reserve notes.

More here: http://govtslaves.info/utah-may-soon-du ... tral-bank/" onclick="window.open(this.href);return false;

brianj
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Location: Vineyard, Utah

Re: Sound Money

Post by brianj »

Toto wrote:What is a dollar?

In fact, it's easy enough to show, and it's impossible to refute, that a dollar is a specific silver coin containing three hundred seventy-one and a quarter grains of fine silver. It's always been that way, at least since the beginning of the American Republic. The Constitution fixes the monetary unit of the United States as this dollar, and it empowers Congress to coin silver and gold coins, the values of which have to be regulated in relation to the dollar. And it very specifically prohibits the government from issuing what the Founding Fathers called "bills of credit" -- what we would call today paper currency that's redeemable in silver or gold. And the Constitution also outlaws any form of legal tender except silver and gold coins. Thus, from the perspective of the Constitution and most of American history, it is really senseless to talk about making the dollar redeemable, or to talk about adopting a silver- or a gold-backed dollar. The very fact that so much debate on the Federal Reserve system focuses on this really senseless point demonstrates how totally ignorant most of the people are about the subject of American money.
--Edwin Vieira Jr.
Official transcript of an address to the convention of the National Coalition to Reform Money and Taxes in Denver, Colorado
http://www.supremelaw.org/library/vieira.html" onclick="window.open(this.href);return false;
At the current spot price (17.80 per oz) a dollar's worth of silver (371.25 grains, 0.848571429 oz) is worth $15.10.

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Toto
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Re: Sound Money

Post by Toto »

At the current spot price (17.80 per oz) a dollar's worth of silver (371.25 grains, 0.848571429 oz) is worth $15.10.
What a bargain! Did you know that in 1929 a days pay for 12 hours of hard labor was a tenth ounce of silver? And there's a lot less of it available today because a lot of it is buried in land fields, while with gold, somebody pays somebody to dig it out of the ground, then pays somebody to put it back in the ground. It has no utility, but silver is more scarce these days, which is what makes precious metals useful as money, and possibly more valuable that gold? At present, silver and gold are coming out of the mines at a ratio of about 15/1 but the ratio in the false market has been around 70/1. At 15 bucks a Dollar, what a bargain!

It's hard to fathom how an individual could dig up the ore, buy the chemicals and energy etc., to coin a tenth of an ounce of silver in a 12 hour day. I know if I went to all that effort, I certainly wouldn't be trading it away for fifteen monetary units of no Thing.

I kinda like acquiring Peace Dollars and Morgan dollars as lawful money of the united States. The one ounce walking liberties produced by the mint are technically about $1.20 or so, and stamped with a false value of One Dollar, according to the Coinage Act of 1792. That silver round in my opinion, is possibly counterfeit technically? But then, that is the only coin accepted by the UPMA if you want to use silver coin in commerce with that organization. When the law changed, and if the law was changed in an act of unofficial misconduct as I suspect, I'm not sure. Christopher H. Hansen could probably answer that question, but he was chased off this discussion group a long time ago.

Here's a nice article from Doug Casey about the reality of money as debt. Repetition for me, but a lot of people haven't a clue.....

Weekend Edition: Doug Casey on Why Debt Is Not Money

Debt

Now that we’ve defined what money is, let me further define what money is not: debt. All U.S. dollars, which is to say Federal Reserve Notes, are debt. They are neither redeemable for anything by their issuer, nor is there a limit on how many can be created. They represent only a vague claim against the “good faith and credit” of the United States government, which is to say the government’s ability to extract taxes from its subjects. But Uncle Sam has shown himself to be remarkably lacking in good faith and is currently embarked on a course to destroy his credit.

The dollar is literally an “IOU nothing.” It’s true that your grocer and your barber have to accept the dollar because of “legal tender” laws, and because they currently wouldn’t know what else to take in payment. But that’s not true of foreigners, who own something like six trillion dollars.

Paper money is an excellent means for governments to tax people indirectly, surreptitiously, through inflation. That’s one reason central bankers love paper money, but also, phony economic theories, like those of John Maynard Keynes, hold that the government not only can but should meddle with the economy, and the ability to print paper money gives them a means to do that.

In today’s world, not only do people around the world take it for granted that paper is money, but that it should be so.

But it’s all nonsense. After the current system collapses, as every paper money system in the past has collapsed, some form of money will have to replace it, and it’s almost certainly going to be gold.


Read the full article here: https://www.caseyresearch.com/articles/ ... -not-money" onclick="window.open(this.href);return false;

Because inquiring minds want to know. All other who are unaware they are unaware can just skip this article and go back to sleep. :ymdevil:

Nice to see brianj has some knowledge on the subject.

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Toto
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Location: Salt Lake City, Utah

Re: Sound Money

Post by Toto »

Idaho Bill Would End Taxation Of Gold And Silver

The Federal Reserve strives for and openly announces a target inflation rate, and it’s these policies that cause these artificial “gains” which precious metals owners experience.

By removing precious metals from the state income tax, Idaho can stop compounding the problem and instead help promote the adoption and widespread use of constitutional money.


More Here: http://www.activistpost.com/2017/02/ida ... ilver.html

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Toto
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Re: Sound Money

Post by Toto »

Sound Money Is Rising at the State Level
Money Metals News Alert
March 6, 2017

Inflation is the most pernicious of taxes levied by our government. Officials systematically devalue the Federal Reserve Note "dollar," then levy capital gains taxes on assets when their dollar price rises.
The "gains" are largely illusory. Rising asset prices over time reflect the fact that the dollar buys less of everything. But the tax obligations triggered by this inflation are very real.

Bills calling for the elimination of capital gains taxes on money, i.e. precious metals, have recently been introduced in both Idaho and Arizona.

Money Metals Exchange president Stefan Gleason testified at the hearing and pointed out that "by taxing so-called gains on exchanging precious metals for devalued Federal Reserve Notes, we're adding another tax on top of the inflation tax."

Idaho State Representative Ron Nate adroitly observed, "Citizens aren't allowed to declare capital losses when the dollars they hold lose value. So, it isn't fair to tax capital gains when the gold and silver they own rises in value."

The Idaho bill – HB206 – passed the House Committee on Revenue and Taxation last Thursday and is expected to come up for a vote on the house floor in the coming days.
The Arizona House of Representatives passed its own version of the Idaho bill, HB2014, in mid-February, sending it on to the state Senate which is holding a hearing this Wednesday. Former Congressman Ron Paul is scheduled to testify.

Meanwhile, the Sound Money Defense League is helping Alabama, Tennessee, Virginia, and Maine eliminate sales taxes on gold and silver bullion.

Supporters of sound money are working hard to reestablish gold and silver as money according to state law and to make sure it is treated as such in the tax code. Trading one form of money for another should not trigger any tax. There is no sales tax when customers swap their precious metals for dollars, so switching dollars to bullion should also be tax exempt.

Oklahoma, Utah, Texas, Idaho, and nearly 20 other states already exempt precious metals from sales tax. Utah and Oklahoma have gone one step further, reaffirming the U.S. Constitution's designation of gold and silver as legal tender. As such the metals are free from all state taxes – including capital gains.

Texas and Tennessee have both approved measures to establish precious metals depositories in their states. Utah legislators are now considering a bill to authorize the same. The idea is to facilitate ownership of gold and silver bullion in state-run investment funds including pensions.

These funds are in desperate need of diversification. Most are stuffed with conventional paper assets which are at risk of going up in smoke in the event of hyperinflation in the U.S. dollar, or another 2008 style financial crisis.

State depositories will also open the door for citizens to more easily use gold and silver in transactions. Parties who have a metals holding in a state depository would be able to make payments to one another by simply and instantly transferring title to the bullion. This would avoid the expense and time delay required in transferring the physical bars.

The movement for honest money is alive and growing. And it is vitally important. The deficits, the mountains of unpayable debt and the metastasizing state and federal governments were all made possible using the black magic of fiat money.

Markets assume all obligations will be "met" when a government can print what is needed. It is simple for politicians to promise the moon and stars when they do not need to raise taxes to fund programs. They simply borrow or print what is needed.

The real prize will be sound money through federal reforms, or state nullification of federal laws and institutions including the Federal Reserve. With the groundwork being laid now, we are perhaps just one crisis away from a return to honest money nationwide.

See Sound Money Defense League news here: https://www.soundmoneydefense.org/news

Silver
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Posts: 5247

Re: Sound Money

Post by Silver »

Since Gadiantons never give up power willingly, the transition to sound money will require the watering of the tree of liberty. However, it's still worth the effort.

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Toto
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Re: Sound Money

Post by Toto »

There is a point at which their control can cause the opposite of what they have planned. Their experimental successes have them quite intoxicated, they think they have already won the game, but with the rise of internet communications, a paradigm shift is possible, and it seems they are losing control…..

“The six months under review have seen central bankers continuing what is surely the greatest experiment in monetary policy in the history of the world. We are therefore in uncharted waters and it is impossible to predict the unintended consequences of very low interest rates, with some 30 percent of global government debt at negative yields, combined with quantitative easing on a massive scale.”
--Lord Jacob Rothschild
Writing in his company’s semi-annual financial report at the end of June 2016

Perhaps it will take an economic collapse to wake folks up, but once it fails the population will be given the final reason to free themselves of all repressive external authority and embrace the all-important principle of free agency as a requisite to salvation. Free agency is the essence of how we got ourselves into this situation and we have to use our free agency to get us out, but it literally do or die in the situation as is now current. But I believe here is still time to reverse their plans.

“Before the final triumphal return of the Lord, the question as to whether we may save our constitutional republic is simply based on two factors: the number of patriots and the extent of their obedience. That the Lord desires to save this nation that he raised up, there is no doubt. But that he leaves it up to us, with his help, is the awful reality.”
--Ezra Taft Benson

Patriots are rising and Pincer movements such as a return to sound money and restoring our constitutional republic and the rule of law would go a long way towards a renversement of the situation, and I agree it is not only well worth the effort, but mandatory if we are to navigate the ensuing planned CHAOS (newest buzz-word for what we can expect in 2017) and emerge on the winning side.

And help get kittycat51 to Kolob. ;)

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Toto
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Re: Sound Money

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Sound Money Bill Moves One Step Closer to Law in Arizona

Arizona came one step closer to recognizing gold and silver as legal tender within its sovereign borders when a bill to that effect was passed by a committee of the State Senate. By a vote of 4-3, the Republican majority passed HB 2014, which would "exempt from gross income the exchange of one kind of legal tender for another" and redefines legal tender to include "specie," that is to say, "coins having precious metal content.”

More here: https://www.thenewamerican.com/usnews/c ... in-arizona

Excerpts from the video https://www.thenewamerican.com/media/k2 ... rve-hd.mp4

If you get the state (and the Church I might add) operating on non-inflation-prone currency like gold and silver, if at that point you had a rampant out of control inflation/hyperinflation of the Federal Reserve Note, if enough people are using the coinage, they’re insulated from that out of control market that happens.

It [the Federal Reserve] would be forced to be phased out by the vote of the People.
Last edited by Toto on March 10th, 2017, 2:33 pm, edited 1 time in total.

Silver
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Re: Sound Money

Post by Silver »

Toto wrote: March 10th, 2017, 1:48 pm Sound Money Bill Moves One Step Closer to Law in Arizona

Arizona came one step closer to recognizing gold and silver as legal tender within its sovereign borders when a bill to that effect was passed by a committee of the State Senate. By a vote of 4-3, the Republican majority passed HB 2014, which would "exempt from gross income the exchange of one kind of legal tender for another" and redefines legal tender to include "specie," that is to say, "coins having precious metal content.”

More here: https://www.thenewamerican.com/usnews/c ... in-arizona
I suppose that the three dissenting votes were by the Democrats on the committee. Now why would they vote en bloc like that?

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Toto
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Re: Sound Money

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Because under a sound monetary system they would lose their bogus livelihood?

Silver
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Re: Sound Money

Post by Silver »

Then everyone should vote against Federal Reserve Hiney Wipes and go for the two elements made by Jehovah and found in our founding documents. If everybody on the forum would just flush their fears and go to a coin shop this weekend and buy just 1 ounce of silver it would be liberating in so many ways.

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Toto
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Re: Sound Money

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Toto
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Re: Sound Money

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Ron Paul: Testimony in Support of Arizona Honest Money Bill, HB2014 on 03-08-17

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Toto
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Re: Sound Money

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Idaho House of Representatives Votes Overwhelmingly to Remove Income Taxation from Precious Metals

Boise, Idaho (March 14, 2017) – By an overwhelming 56-13 margin, the Idaho House of Representatives has voted to end all Idaho taxation on precious metals, e.g. gold and silver coins and bars.

More here: https://www.soundmoneydefense.org/news/ ... 4?AID=3818

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Toto
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Re: Sound Money

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Maine Law Would Support Ownership of Sound Money
Posted on March 8th, 2017

As more states reduce the costs and barriers to precious metals ownership, those who diversify some of their savings into hard money will continue to grow, and the concept of sound money will become more widely accepted.

While there is a tremendous amount of work to do, we should be encouraged that the stranglehold central planners have over our money is beginning to loosen. People are taking notice that something about the debt-laden economy and their money isn’t right. And people are realizing that money backed by nothing isn’t actually money at all.

Full article:
https://www.soundmoneydefense.org/news/ ... ney-000093

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