We must, before doing or saying anything else in this blog, firstly thank W.G. for spotting and sharing these stories. The reason why is rather simple: because thus far the revolt of the states in passing state legislation recognizing gold and silver as money and legal tender, and of states opening their own bullion depositories, has thus far been confined to "flyover country" where we who are all part of Darth Hillary's "basket of deplorables " all live. One would expect such "nonsense" as bullion as money and state bullion depositories from us rubes in Wyoming or Tennessee or Texas.

But when the revolt spreads to places like North Carolina, a bastion of transplanted northeastern reason and "progressivity", it might be time to start worrying:

Now you'll note that the precise language of the article here is less than comforting, for again, the idea of the issuance of physical bearer certificates of deposit is utterly missing, and hence the idea of convertibility and convenience of exchange is missing. Rather, the bill is hinting at bullion backed "crypto currency", and I believe my objections to the idea that crypto is  anywhere close to a real currency are well enough known that there is no reason to rehearse them again here. What the North Carolina bill as it reads appears to be doing is simply creating the ground for state purchase of and speculation in private crypto currency as it is of purchase of and speculation in bullion.

There is, however, something noteworthy about this article, because a clear reason for doing so is articulated explicitly, and that is the loss of state confidence in the federal reserve "dollar":

Holding gold and silver in reserve will also create a pathway for North Carolina to maintain financial independence should the U.S. dollar collapse, a very real possibility as the world moves away from the greenback as its reserve currency.

But folks, don't be deceived: until such time as these states start talking about the issuance of physical bearer certificates of deposit, and address the issue of its use as a medium of exchange, this is all, in my opinion, simply a means of smuggling in central bank digital "currency" under the disguise of a lot of nice-sounding talk about states' rights, state created digital "currencies", nullification, "Gresham's law" and sound money. You'll note that what has been missing thus far in all of these measures is precisely the point of convertibility of certificates of deposit, and their use as money. If they are genuinely serious, they should not hesitate to say that one can have either a crypto-currency electronic token, or a physical piece of bearer certificate of depositwithout the latter, everything else is just talk And it's very deceptive talk at that.  I for one would never consider depositing any amount of bullion in any depository without that option. Don't talk to me about a crypto wallet or password or any electronic nonsense. I want the piece of paper with all its anti-counterfeiting measures. Period. End of discussion.

am encouraged by all the states taking these measures, don't get me wrong, but I am also insistent that the key missing piece is the piece of paper saying that "x" amount of silver or gold is on deposit in the State X bullion depository, and that this certificate can be redeemed for that amount. Show me the facsimile or the first printings of such certificates, and I'll believe you're fully serious.

Now with that in mind, let's go to the other partially encouraging story shared by W.G.  We all "just know" that Real Progressive Civilization only exists in the narrow strip of land east of the Hudson River, and running roughly from New York City and Albany to Boston, with a few places like Hartford and Providence in between; or it exists only in that narrow strip running from roughly from Philadelphia, through Baltimore, to Swampington, D.C. (Sorry, Richmond, you're not really a part of Civilization because of your Confederate past). Sometimes, however, a little of that Real Civilization oozes, slurps, or dribbles over onto New Jersey. Everything else is The Wilderness, Terra Incognita, and inhabited by the Barbarians of the Basket of Deplorables.

It must comes as a shock to the Enlightened Intellectoids of the Real Progressive Civilization, therefore, that New Jersey might be reverting to the Barbarism of places like Texas, Tennessee, and (shudder) Wyoming:

With New Jersey possibly joining the fray, it's now more or less official: deep states of the states know that the Deep State of Swampington has blown it completely, and that it's only a matter of time before the whole thing implodes. And they're making plans accordingly.

So what's the deal with my insistence on the convertibility, physical certificates of deposit factor? Only this: that when they do start talking about that in the state assemblies and legislatures, you'll know the implosion is close, and that they're serious. All else is fake, because a "bullion backed" digital currency is not a currency at all; without that convertibility, and without the use of a physical medium of exchange to enable it, it's all just talk, nice talk to be sure, but just talk. Just as a reminder, it looks like this (and read it carefully):

value of 1953 series c 2 dollar bill 1957 one dollar bill silver ...


1953 $10 Ten Dollars Silver Certificate Bank Note | Pristine Auction

I remember spending these as a boy. I also remember how they quietly began to disappear after Lyndon BAINES Johnson, when the Federal Reserve Banks, when receiving them, would quietly withdraw them from circulation, and burn them.

See you on the flip side...



Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".

No Comments

  1. Brendan on July 11, 2023 at 11:22 pm

    I remember hearing about elderly folk having money ensconced in a mattress or behind the gyprock (dry wall) of their houses. They unfortunately deteriorate into dementia and forget about it and it’s not discovered until they pass.

    People would often say “why didn’t they put it in the bank, silly old cow?”. I hear those words now and think the elderly person who did it was not always senile and in the beginning had their faculties and reasons for storing their money where they did. They didn’t trust banks and people from my grandparents generation (who grew up during the Great Depression) had the idea of storing money at home for good reason.

  2. tyrtul on July 7, 2023 at 10:50 pm

    Two things:
    1. This article ( discusses how in Johannesburg SA, in August, the BRICS nations might begin the process of implementing a gold backed currency to conduct trades between member countries. US state bullion depositories might use these procedures for interstate trading if/when the national currency fails and while waiting for a new national financial system to emerge.
    2. In the book PAPER MONEY ( by Adam Smith, he talks of how in 1965 he changed a $1 silver certificate bill for and ounce of physical silver. He couldn’t make the exchange at a commercial bank; he had to make the exchange at a federal reserve bank. At the Federal Reserve Bank of New York he was able to make the exchange but instead of receiving silver coinage he received 1 ounce of silver dust.

    • FiatLux on July 8, 2023 at 12:17 pm

      I should correct my comment below: A bullion-backed currency wouldn’t necessarily have to be immediately convertible into bullion at every single bank in a state, as long as there are many banks throughout the state where you could get your bullion. Also, there’s nothing stopping a system where any commercial bank could order bullion from a bullion-depository bank, with a delay of a few days.

      Your comment raises a good point: “Bullion,” or “silver” and “gold,” would need to be defined in any new state law that foresees convertibility, to avoid the “silver dust” problem you mention. The legal definition should be something like “gold or silver coins or bars issued by the state mint [and/or: by a mint approved by the state].” That brings up a possible corollary to the necessity of convertibility: the necessity of a state mint, or other recognized mint, to produce bullion coins and bars.

  3. cobo on July 7, 2023 at 8:36 pm

    Pol Pot’s black pajama boys are close behind. You come to the river crossing and one leaky boat remains. You pull your links of gold chain out of your ass, washing it a bit in the river. The guy next to you whips out his Mac Book and dials up his bitcoin. Wanna bet who gets the boat? A real story, except for the bitcoin, the bet’s still on.

  4. marcos toledo on July 7, 2023 at 7:27 pm

    Printing and coining money should be a state monopoly instead it’s a swindler’s paradise whether they call themselves the Bank Of England or the US Federal Reserve.

    • anakephalaiosis on July 8, 2023 at 5:15 am

      The Vatican guide for dummies, on how the Praetorian Guard inflates and deflates an empire, when moving from one empire to the next:

      1607 Jamestown settlement establishes foothold in North America.
      1705 Virginia Slave Codes establishes oligarchy in North America.
      1776 Declaration of Independence establishes Illuminati superstructure as the USA.
      1913 Federal Reserve Act establishes monopoly of issuing money.
      1934 Gold Reserve Act removes gold standard, and produces paper money out of thin air.
      1973 Petrodollar monopolises global oil trade at gunpoint.
      2023 Demolition of the USA hinges on establishing a Greater Israhell in the Ukraine.

      This is how Jesuits dupe a bunch of uprooted Protestants overseas, into becoming systemic de facto Catholics, to do the bidding of the pope, while being none the wiser.

      Odin wasn’t born yesterday, hanging in the woodwork, wounded by spear of gravity, heading for a fall, to rise again.

      Odin is Christ, because his brothers Elohim & Yahweh, are Will & Woe in Scandinavia, which means Logic & Reason.

  5. FiatLux on July 7, 2023 at 12:07 pm

    Up to now, one might have been able to argue the bullion-related bills and laws popping up here and there were some kind of grandstanding, anomaly, or coincidence. It’s now clear there’s something significant going on, and my intuition tells me there’s something coordinated about it.

    But what exactly is going on? In addition to the possibilities mentioned in the Giza blog posts on this topic, here’s one I wonder about: Are these states thinking of creating their own bullion reserves, and some kind of electronic payment or settlement system, so they can conduct interstate commerce among themselves without using the U.S. dollar, much the same way that Brazil, Russia, China, and other “BRICS” nations have been doing?

    In the end, U.S. states face the same problem countries around the world face: the U.S. dollar has been weaponized against them, since it’s used as a means of coercion and control. One of the main obstacles to states’ breaking away from the federal government is precisely the U.S. dollar. States depend on U.S.-dollar subsidies from the federal government for a huge portion of their economy and for the subsistence of large portions of their population. That’s one huge issue. Another even bigger issue is how a breakaway state could conduct trade with states or countries outside its borders. Well, a breakaway state with enough bullion of its own might well be able to import things it needs but can’t produce itself.

    As far as commerce and freedom within a state, I agree the key is a fungible, physical medium of exchange that’s convertible into bullion (“payable to the bearer on demand”) at any bank in the state. Until states start talking about that, or talking about establishing their own mints and issuing their own bullion coins for use in everyday commerce, I’m suspicious.

    • anakephalaiosis on July 8, 2023 at 3:46 am

      Presently, SCO (Shanghai Cooperation Organization) is being prepared, to encourage breakaway states in America, which means bilateral trade agreements.

      Local gold-pegged currencies will become a necessary condition, for Americans to trade in Asia, because the federal reserve dollar won’t stand, in fair trade.

      The lynchpin is Alaska, being recognised as a leasing agreement, with repatriation, as a precondition for a Bering Strait crossing, financed as BRICS infrastructure.

      The selling argument is a new “Klondike” of prosperous trade, beyond the Bering Strait.

      • FiatLux on July 8, 2023 at 11:55 am

        That’s an interesting point, and I could see something along those lines happening. If a U.S. states ever did break away, even if it was only by issuing its own currency instead of (or in parallel to) the U.S. dollar, I could easily see bilateral trade deals between individual states and Asian or other countries. There’s probably a federal law against it, but there’s probably also some way around such a law.

  6. gord on July 7, 2023 at 10:11 am

    The important part on the bills:


    I still have a few of these around, as well as a box of assorted Mercury Dimes, Standing Liberty Quarters, Walking Liberty Half Dollars, Franklin Half Dollars, Morgan Silver Dollars, and Peace Dollars given to me by my grandfather.

  7. anakephalaiosis on July 7, 2023 at 5:39 am

    BRICS-ing the Bering Strait, and seceding union, comes in one gift-wrapped package.

    Nuking one’s own government, with maximum result, is through laughs and giggles.

    To do the unexpected, is the key to standup comedy, leaving them laughing on the floor.

    That is, what Odin is, with Elijah’s ravens.

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