Tag Archives: Gold

Wyoming Legislature Passes Bill Making Gold, Silver Legal Tender

The Wyoming State Senate passed the Wyoming Legal Tender Act (House Bill 103) last Wednesday by a vote of 25-5. The bill had previously passed the state’s House of Representatives by a vote of 44-14.

After the House reconciles differences in amendments with the Senate version of the bill, it moves on to Republican Wyoming Governor Matt Mead’s desk for consideration.

If signed into law, the bill would recognize gold and silver as legal tender for payment of debt and taxes in the state and would remove the state’s ability to tax the sale of gold and silver specie.

Former U.S. Congressman from Texas Ron Paul said in a statement on the passage of the bill, “Passage of the Wyoming Legal Tender Act is the latest sign that dissatisfaction with the Federal Reserve’s money monopoly— and the movement to change our fiat currency system led by my Campaign for Liberty— is alive and growing. This bill would not have passed through the legislature without the hard work of Wyoming Campaign for Liberty state coordinator Cathy Ide and all of the dedicated activists who made sure the Wyoming legislature knew the people wanted them to restore their legal right to use real money instead of Federal Reserve notes. Governor Mead should listen to the people and sign this bill into law without delay.”

“As the economy slides into another Fed-created downturn, I predict the movement to pass state legal tender laws will grow. My Campaign for Liberty group is ready to help pass these laws in as many states as possible,” added Congressman Paul. His Campaign for Liberty is currently mobilizing grassroots activists to press Wyoming citizens to contact Governor Mead in support of the bill.

According to NewsCenter1, GOP State Rep. Roy Edwards described why legislators want to remove the tax on specie, saying, “Imagine going to the grocery store and asking the clerk for change for a $20 bill and being charged 80-cents in tax [on the change]. That’s what we’re doing in Wyoming by charging sales taxes on precious metals and we’re taking steps to change that.”

Constitutional tender expert Professor William Greene told the Tenth Amendment Center, “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.”

If the bill were to become law, Wyoming would join a handful of other states who have passed various measures to encourage the use of gold and silver as legal tender, including Utah, Arizona, and Texas.

Exclusive: Anthem Blanchard Talks Greece, Cryptocurrency And More

 

Anthem Vault President/CEO/Director Anthem Blanchard sat down with Truth in Media’s Ben Swann to discuss the financial disaster in Greece and how his Bitcoin-gold hybrid, Hayek, will change how people treat currency.

Greece was basically borrowing money to pay pensioners; there is no more money to borrow and there is a run on the banks.

Blanchard speculated on how Greece will solve its problems: “I think what you’re going to see happen actually is that you’ll see Greece in some sort of IOU Euro currency,” he said.

“I think this is a narrative that you’re going to see spread. It’s basically a form of capital control.”

Greece’s potential fix is referred to as a “haircut.”

“Anything over $10,000 will receive a haircut of 30 percent,” explained Blanchard. “You lose 30 percent of your money over $10,000, basically. The small business owner that keeps more than $9,000 in any account- that’s a 30 percent loss right there.”

And that solution could encourage other countries to follow Greece. If Spain decided to overspend on social programs, for example, there is now the idea that the debt could receive a haircut. “So, it sets a precedent. And that’s really the danger in the real sticky situation that the Euro bank and the Euro government heads really have this conundrum on their hands,” he added.

And when it comes down to it, Greece’s middle class will be affected the most. The wealthy have already removed their money from Greece’s banks.

Blanchard said that we should look at Greece’s bigger picture. “There is all of this light shining on this issue right now. We have to point to silver linings here and solutions instead of getting too caught up in what ultimately is an unwinnable and unsavable situation long term.”

Blanchard explained that a situation like Greece is plausible in all countries who use currency not backed by anything.

“Ultimately having the printing press in the hands of the government is a very dangerous thing. That’s specifically why the founders of the U.S. specifically put into the Constitution about being able to identify gold and silver as being coinable money by the states. They recognized that it’s very dangerous for there to be a fiat money, a dictate money, a currency that the government demands that is has to be paid for all debts to a government or its government or its court system fines. It creates artificial demand and abuse, and you see the fallout right in front of our eyes,” explained Blanchard.

And having currency backed by something is why Blanchard is so excited about Hayek. “It’s a marriage between gold and Bitcoin. It’s payable gold. It is completely free of the systemic risk that exists in the existing centralized global banking structure, so just by nature that’s the way that this system works, so the beautiful thing is that even if there is any kind of fallout or any kind of ‘haircut.’”

“We can spend your gold anywhere. Anywhere that has an internet connection,” he added. “And that’s the power of what our team is building.”

This transforms the idea of buying gold, which is typically purchased to hold onto, not to spend. Blanchard’s view is that you’re still buying gold, but you can spend it using this cryptocurrency.

“The process is quite easy, and it’s getting even easier,” he said. “We’re making that gold more liquid.”

Blanchard is changing gold, and also changing Bitcoin.

“We give Bitcoin the stability and trust of a thousand years of gold.”

Click here to listen to Ben Swann’s complete interview with Anthem Blanchard, who talks more about the U.S. banking system and the future of currency.

ISIS Hypes New Coins, Says Circulation to Begin Soon

Gold Dinars Shown on Social Media

by Jason Ditz, June 23, 2015

ISIS has talked off and on about the idea of issuing its own currency, and new photographs emerging on social media suggest that they may soon begin to be in circulation, though details on exactly what they are minting remains scant.

The images show a 1 dinar gold coin with wheat on it and another gold coin with a 5 on it and a picture of the world. The images look similar to designs ISIS issued last year, when it first announced it was going to try to get its own currency in circulation.

Historically, a gold dinar was 4.25 grams, and a silver dirham was 3.5-4 grams, though the sizes have varied over the years. Though many Islamic countries continue to use the name “dinar” for their currency, they are no longer gold backed.

ISIS, however, has the luxury of gold bullion looted from the bank of Mosul as well as a eagerness to establish itself as a formal Caliphate, which would argue in favor of them using hard currency in the style of previous Caliphates. As a new, unrecognized country, this may also make commerce easier for people within ISIS territory, as the currency will at the very least be worth its gold or silver quantity.

Though ISIS hasn’t formally made any announcement on the timing of the releases, social media reports are that the new coins will be in circulation by the Eid, i.e. the end of Ramadan, which means they could start showing up in ISIS territory in the next few weeks.

Peter Schiff Says Don’t Believe the Hype: “The dollar is going to crash, buy gold”

The dollar index is on a nine-straight month rise. This change caught investors by surprise and has caused a shift in perspective where the dollar is consistently in a state of debt-fueled decline. While some minds are changing, Peter Schiff, CEO of EuroPacific Capital, said that people shouldn’t believe the hype and called that storyline a “false narrative.”

“I’m surprised it’s rallied this much but that doesn’t mean it’s permanent. When traders wake up to reality and realize how wrong these [bullish dollar] bets are, they’re going to unwind these trades, and the dollar is going to implode very quickly,” he said. “I think the people who have been betting on the dollar and have made a lot of paper profits, if they’re caught in this when it reverses, they’re going to end up losing a lot of money,” he explained.

Schiff compared the dollar to the subprime mortgage crisis when the banks making those bets would have failed if the government didn’t bail them out. “The question is how many banks are going to fail when the dollar collapses,” he asked. “I wonder how many of our lending institutions are levered up short along the dollar. I wonder what happens when they get caught in that trade.”

“When people realize we can never raise rates and it’s permanent QE, that the Fed can’t shrink its balance sheet and has no ability to control inflation – there’ll be no place to hide,” he said. “The real move of the dollar is going to be a crash.” Schiff has a bleak outlook for the dollar, but he said his long-standing advice to buy gold will pay off for investors. “Traders are bearish on gold, because they’re bullish on the dollar,” he added. If you were surprised by how much gold increased after quarters 1 and 2, he said, that quarters 3 and 4 will be even better. Schiff said that he’s not sure how high gold will go.

“There’s no real ceiling on gold because there’s no floor on the dollar,” he added.

Will 2015 Be Good For Gold?

Jones Trading Chief Market Strategist Mike O’Rourke and Anthem Vault CEO Anthem Blanchard took to Fox Business to discuss their viewpoints on gold in 2015.

Blanchard speculates that gold will hover “around $1,300 this year.”

“We saw gold really rise in all major currencies last year, in 2014. I think we’re going to continue that trend,” added Blanchard.

“I do expect to see gold do quite well,” said Blanchard, who explained that gold thrives in a zero-interest rate environment, which he said the Federal Reserve will continue and surprise the market.

Watch the entire interview below.

 

Exclusive Interview: Returning to the Gold Standard, Will the U.S. Return to Sound Money?

The mission of the organization, Fix the Dollar, is to return the control of our money to the people, fix the dollar and restore sound money.

Unlike many other liberty-minded organizations, Fix the Dollar doesn’t want to “End the Fed,” instead it wants to “Mend the Fed” as the first step. They want the U.S. to get back to the classical gold standard to restore the American Dream.

“By restoring the classical gold standard, and if possible changing a few laws so as to permit competing currencies, America can create a climate of equitable prosperity that will generate tens of millions of good new jobs, end wage stagnation, restore a climate of opportunity wherein everyone – blue or white collar, of every age, race, and creed – can climb the ladder to affluence, balance the federal budget via economic growth, provide the resources to improve the natural environment and fix our decaying national infrastructure,” wrote Steve Lonegan on the group’s website.

This week BenSwann.com’s Joshua Cook interviewed Steve Lonegan, Director of Monetary Policy. Listen below.

Lonegan told Cook, “The founding fathers of this country hated paper money. It was the South Carolina delegation to the Constitutional Convention of 1787 that led the effort. Pierce Butler, the first U.S. Senator from South Carolina led the effort to ensure that Congress would be prohibited from printing paper money. They understood how dangerous it was.”

“The United States Constitution Article 1 Section 8, clearly states, this was put in at the Constitutional convention, the motion to insert this was  by Pierce Butler, is that only Congress has the right to coin money and determine its value,” said Lonegan.

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Breaking: Oklahoma legislators pass bill legalizing gold and silver tender: Nullify the fed?

OKLAHOMA CITY, March 11, 2014– On Monday the Oklahoma State Senate passed a bill that would legalize gold and silver as legal tender, moving the legislation on to the House for consideration. The vote was 37-4.

Senate Bill 862 (SB862), was introduced by Sen. Clark Jolley and Rep. Gary Banz, with cosponsorship from Sen. Natham Dahm. It reads, in part:

“Gold and silver coins issued by the United States government are legal tender in the State of Oklahoma. No person may compel another person to tender or accept gold or silver coins that are issued by the United States government, except as agreed upon by contract.”

If passed into law, Oklahoma could become the first state to recognize gold and silver as legal tender authorized for payments of debts and taxes.

Last month, the Arizona senate also passed a similar bill by a vote of 18-12. However, the governor has already vetoed a similar bill last year.

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.” The Constitutional tender act is a big step towards that constitutional requirement which has been ignored for a long time in every state of the country. Such a tactic would achieve the desired goal of abolishing the Federal Reserve system by attacking it from the bottom up – pulling the rug out from under it by working to make its functions irrelevant at the State and local level.

Passage of this legislation would introduce currency competition with Federal Reserve Notes. South Texas College Professor William Greene explains further:

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.

Without a single act of Congress, the Federal Reserve system can be brought to its knees by passing such bills in states all over the country.

SB862 will first be assigned to a house committee where it will need to pass by a majority vote before the full house has an opportunity to send the bill to the governor’s desk for a signature.

Follow Michael Lotfi on Facebook and on Twitter.

Arizona legislators pass bill to authorize gold and silver as legal tender

AZ

PHOENIX, February 24, 2014– Today, the Arizona State Senate passed a bill that would legalize gold and silver as legal tender, moving the legislation on to the House for consideration.

If passed into law, Arizona could become the second state to recognize gold and silver as legal tender authorized for payments of debts and taxes.

SB1096 passed by a vote of 18-12

A similar bill was introduced last year. The bill passed both the House and Senate and made it to the Governor’s desk – where Jan Brewer ultimately vetoed it. It’s important to note that SB1096 is not a mandate, but simply would allow the people in Arizona to exchange goods and services, for gold or silver, without additional fines and taxes. [READ BILL TEXT HERE]

The Arizona House will now take up the bill, where it will need to be passed to make it back to the governor’s desk. Supporters say that a full year of pressure and outreach makes passage and a signature, while still difficult, more likely.

You can follow bill’s progress at TenthAmendmentCenter.com

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