Gold bullion investments to pay off with the return to hard currency.
March 02, 2011 – The states are about to give gold bullion investments a real boost - more than a dozen have proposed legislation to protect themselves by adopting gold coins as their primary currency.
Most of the states are following a template know as the "Constitutional Tender Act," in reference to Article I, Section 10 of the US Constitution, which forbids states from making "any Thing but gold and silver Coin a Tender in Payment of Debts." Consequently the Act stipulates that “the state and political subdivisions shall not compel or require any person to recognize . . . anything but gold and silver coin.”
The legislation is necessary because “the Federal Reserve System’s currency is not redeemable in gold or silver,” and that is “a, if not the, major reason for the [Fed’s] ever-increasing instability.” Furthermore, the states “can avoid or at least mitigate many of the economic, social, and political shocks to be expected to arise from hyperinflation, depression, or other economic calamity . . . only through the timely adoption of an alternative sound currency.”
In support of the action the legislation cites the Supreme Court decision in Lane County v. Oregon, which “ruled that the States may adopt whatever currency they desire . . . even to the extent of adopting gold and silver coin . . . while refusing to employ a currency not redeemable in gold or silver coin that Congress has designated ‘legal tender’.”
As the movement among the states to shelter their economies from the Fed’s destructive policies gains momentum, the demise of the dollar will quickly follow. And the state imposed conversion to hard currency is bound to have profound impact on the global monetary system as well.
Those who have the foresight to invest in gold bullion today will be greatly rewarded by the imminent return to hard currency.
