The source of almost half of all U.S. silver mining production, the state of Idaho, is satisfying their duty to defend the inherent rights of its citizens. Representative, Phil Hart, has introduced Idaho HB430 titled "Idaho Constitutional Money Act of 2012" to the Idaho House of Representatives. Under the provisions laid out in this legislation, all citizens of Idaho would be protected in their right to transact business in the form of money designated in Article 1, Section 10, Clause 1 of the … [Read more...] about Idaho Joins the Rush Toward Honest Money
As a result of its recent monetary policies, The Federal Reserve has been a frequent news topic over the past several days. January 25th and February 2nd are two key dates of its recent activity and so will be the focus of this week’s recap. In short, expecting prolonged economic instability, the Fed continues fiddling with the market - as usual. On January 25th, the Federal Reserve’s monetary policy-making group, the Federal Open Market Committee (FOMC), announced that it will keep short-term … [Read more...] about The Fed: A Two-Week Recap
Representatives in the Washington State legislature have introduced a bill that would move the state into compliance with Article 1, Section 10 of the US Constitution, requiring only gold and silver be recognized as legal tender. The bill was introduced in the Washington State House of Representatives on Friday by Representatives Matt Shea, Cary Condotta, Jason Overstreet and Jim McCune. A sample of the bill's text follows: (1) The legislature finds that to secure property rights sound money is … [Read more...] about Washington State Moves Toward Honest Money
According to a story being reported by DEBKAfile, India has negotiated to barter gold for oil. "India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar, DEBKAfile's intelligence and Iranian sources report exclusively. Those sources expect China to follow suit. India and China take about one million barrels per day, or 40 percent of Iran's total exports of 2.5 million bpd. Both are superpowers in terms of gold assets. By trading in gold, New … [Read more...] about India Trading Gold for Iranian Oil?
The American Open Currency Standard has been servicing the state of Missouri for a few years with gold, silver and copper rounds. And now the elected employees at the capitol will finally consider legislation to honor their Constitutional mandate to not "...make any Thing but gold and silver Coin a Tender in Payment of Debts...". Our friend, Doug Tjaden, at the Utah Sound Money Center, posted the following today: Last week, the Missouri Sound Money Committee produced model legislation which … [Read more...] about Missouri Moving to Constitutional Money
While John Corzine is scratching his head in Senate hearings trying to make it sound feasible that he can't explain where all the money has gone, his customers and stockholders battle over who will end up with the candy now that the piñata has been busted. Here's a sample of the dirt as reported by Barron's just days ago... It's one thing for $1.2 billion to vanish into thin air through a series of complex trades, the well-publicized phenomenon at bankrupt MF Global. It's something else for a … [Read more...] about MF: No Mettle?