|
In
accordance with Article
1 Section 10 Clause 1 of the United States Constitution
which states, “No state shall…make any Thing but gold and
silver Coin a Tender in Payment of Debts…” Indiana State Senator Greg Walker
of District 41, (R-Columbus), has filed Senate Bill 0453
(Indiana Honest Money Act) which allows Indiana citizens a choice of gold bullion
coins or silver bullion coins or the Electronic
equivalent, such as GoldMoney, in
both payable and receivable transactions with the State. While the bill
is not a replacement for the Federal Reserve Note monopoly the Bill will
remove some bulwarks against competition.
Senate
Bill 0453 needs to be approved by the Tax and Fiscal Committee for House
consideration, etc., and will probably be subject to debate and
possible amendments. Of about 700 Bills under consideration
approximately 200 will survive to be voted on during the current Legislature.
In
2003 and 2005 a similar attempt was made in New Hampshire.
The Indiana bill is a modified version of a Gold Money
Bill written by Dr. Edwin Vieira, who as an attorney has
practiced before the United States Supreme Court and is the author of
the preeminent legal treatise on American monetary jurisprudence
– Pieces of Eight.
It
will be interesting to see where this leads. While it will probably die
in committee it will spark some debate and be an example for other States.
Letting your own ‘representatives’ know there is an
alternative to the current unsound system can help cause political pain and
may result in change. Most are completely ignorant on the subject.
Additional
States, particularly those with severe budget deficits like California or
Florida, should consider similar monetary reform. Using a sound
currency will be a great boon to business and entrepreneurship which will
attract additional capital, both human and economic, resulting in economic
growth that could possibly help reverse the budget deficits.
Trace Mayer
RuntoGold.com
Trace Mayer,
J.D., holds a degree in Accounting from Brigham Young University, a law
degree from California Western School of Law and studies the Austrian school
of economics. He works as an entrepreneur, investor, journalist and monetary
scientist. He is a strong advocate of the freedom of speech, a member of the
Society of Professional Journalists and the San Diego County Bar Association.
He has appeared on ABC, NBC, BNN, many radio shows and presented at many
investment conferences throughout the world.
|
