South Carolina Bill, (H. 4501) introduced in the House on February 2, 2010, declares Federal Reserve notes as “unconstitutional” and the cause of the state’s “economic crisis of severe magnitude.”
Section 1-1-1110. The South Carolina General Assembly finds and declares that the State is experiencing an economic crisis of severe magnitude caused in large part by the unconstitutional substitution of Federal Reserve Notes for silver and gold coin as legal tender in this State. The General Assembly also finds and declares that immediate exercise of the power of the State of South Carolina reserved under Article I, Section 10, Paragraph 1 of the United States Constitution and by the Tenth Amendment, is necessary to protect the safety, health and welfare of the people of this State, by guaranteeing to them a constitutional and economically sound monetary system.
The bill continues by mandating that gold and silver coins replace federal currency as legal tender. Several other states have proposed similar or related legislation:
Why isn’t the media covering these important topics?
(See three important Youtube videos from The New Survivalist at the bottom of this post.)
Currency Crisis Eminent?
The government doesn’t want a run on dollar dumping, so the complicit media remains mostly silent on the subject.
Recent currency crises have occurred in Mexico (the “Peso crisis” of Dec. 1994), Asia (“Asian Crisis” of 1997), Russia (the “Ruble Crisis” of 1998) and Argentina (2001.) Typically, the people are the last ones to know about a currency collapse, and they don’t find out until after the fact–after they have lost their money with no chance of getting it back.
Currency Collapse is another way, along with inflation, that the government has of confiscating the people’s wealth. Inflation is the slow and insidious process preferred by governments. It can last for many decades. (In the U.S., since the founding of the Federal Reserve in 1913.) Currency collapse, on the other hand, is the overnight process which occurs when a crisis has reached its head. In a currency collapse the problem of inflation (caused when the government prints too much money, usually as a means of getting rid of its unsustainable debt) is remedied by withdrawing the excess money from the citizens. But there is no compensation for their loss.
Currency Collapse is the inevitable end result when a government takes the currency off the gold and silver standard and replaces the nation’s real money with fiat paper money. There has never in history been an exception, and the US is today discovering that it too will be no exception.
The government is able to spend all that newly created money, and then at some time later, the people have the excess money withdrawn from their possession either slowly (inflation) or overnight (collapse), but either way, it results in the transfer of wealth from the citizens to the government (and whoever the government has chosen to distribute it to.) The end result is comparable to a near 100% tax (which is better referred to as a confiscation.) Our only protection from this fleecing is gold and silver. But when they do it overnight, most people don’t have a chance to dump their fiat currency for gold and silver–and that, of course, is the government’s plan!
Learn more about our money at my web site: