SOUTH CAROLINA JOINS GOLD & SILVER CURRENCY PUSH
This story was passed along by W.G., and it's another whopper doozie when one ponders its implications. Briefly: the State of South Carolina is pondering a state resolution to make gold and silver coins legal tender:
The bill is clear enough:
hree bills prefiled in the South Carolina House would take important steps toward treating gold and silver as money instead of commodities, and would set the stage to undermine the Federal Reserve’s monopoly on money.
Rep. Stewart Jones (R-Laurens) filed all three bills.
House Bill 3377 (H3377) would make gold and silver coins legal tender in the state. Under the proposed law, “gold and silver coins minted foreign or domestic shall be legal tender in the State of South Carolina under the laws of this State. No person or other entity may compel another person or other entity to tender or accept gold or silver coin unless agreed upon by the parties.”
Practically speaking, this would allow South Carolina residents to use gold or silver coins to pay taxes and other debts owed to the state. In effect, it would put gold and silver on the same footing as Federal Reserve notes.
The phrase, “unless agreed upon by the parties” has important legal ramifications. This wording reaffirms the court’s ability, and constitutional responsibility according to Article I, Section 10, to require specific performance when enforcing such contracts. If voluntary parties agree to be paid, or to pay, in gold and silver coin, South Carolina courts could not substitute any other thing, e.g. Federal Reserve Notes, as payment.
As the article makes clear, three states have already passed such bills: Utah, Wyoming, and Arizona. What the article does not mention is that "resolutions" to similar effect have been endorsed by other state legislatures, or have at least been discussed, in Arizona, Montana, and so on. Additionally, as most readers here know, the State of Texas established its own state bullion depository just a couple of years ago, and was joined shortly after that by Utah. Additionally, some countries are also making moves toward bullion-based currencies.
All this brings me to today's high octane speculation. Recently I blogged about the talks between Texas governor Abbot, and the NASDAQ exchange to move their data center from the New York-New Jersey area to Dallas. If one puts all this together, it would appear that there is a move afoot to (1) side-step the central bank-fiat monetized debt system, and thereby, to (2) side-step plans for "digital 'currency'" and cashless societies. Viewed one way, one might also be viewing the first moves in the eventual economic and financial split of the USA, and ultimately, a de jure split. If these types of speculations are to have any merit, that is to say, if there is indeed some long term and coordinated agenda at work in such moves, then the proof will come in an unusual way, namely, the disposition of federal assets, and especially military and infrastructure assets. If one finds similar moves by states to assert their jurisdiction over national guards, and even, perhaps, to beef them up by direct state funding, then that is a sign, perhaps, that the game is afoot. The first sign will be if other states pick up and pass these types of bills.
All of which makes that Texas state bullion depository all the more interesting...
... and of course, as one reader of this website put it to me in an email, exchanges have back up data centers, and it's entirely possible that NASDAQ already may have one...
... in Texas, and that the story is just a bit of theater to "prep the narrative."
See you on the flip side...
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