South Carolina Republican Wants to Ban Federal Reserve Notes in SC
While this is totally fucking awesome, it doesn't have a chance in hell of going anywhere. Oh well. Go South Carolina! How does my favorite governor feel about this? Can someone please send a correspondent to the Appalachian Trail to ask him?
Before It's News:
South Carolina State Representative Mike Pitts has introduced a bill that would no longer recognize Federal Reserve Notes as Legal tender in the state.
Pitts, a fourth-term Republican from Laurens, introduced legislation earlier this month that would ban what he calls “the unconstitutional substitution of Federal Reserve Notes for silver and gold coin” in South Carolina.
If the bill were to become law, South Carolina would no longer accept or use anything other than silver and gold coins as a form of payment for any debt, meaning paper money would be out in the Palmetto State.
Pitts said the intent of the bill is to give South Carolina the ability to “function through gold and silver coinage” and give the state a “base of currency” in the event of a complete implosion of the U.S. economic system.
“I’m not one to cry ‘chicken little,’ but if our federal government keeps spending at the rate we’re spending I don’t see any other outcome than the collapse of the economic system,” Pitts said.
Oh dear Mr Pitts, JDA is 100% with you, homie, but there's no way this'll fly.
What's the bright side? We already have a way around Fed funny money, it's called barter and it's totally legal all the time. Don't want to be on the Fed's leash? Trade. Pitts has the right idea but he's up against nearly 100 years of tradition, a handful of which have meant FRNs freeballing without being tied to anything but faith. Faith! Not "silver on deposit at the Treasury", just the belief that a piece of cotton paper is actually worth what the number stamped on the front says it is worth.
I admire the disaster planning agenda. See you in the bunker, South Carolina!