When the Relief Mine is vindicated, and begins minting gold coins, there needs to be an infrastructure in place to support people buying things and paying bills with precious metals. Fortunately Utah law already supports this. Other states, including Texas, have similar laws on the books. Now Missouri is joining the band wagon.
By Ethan Huff at NaturalNews.com
We have some great news to share with you out of Missouri! The state Senate just voted to pass Senate Bill 735, also known as the Constitutional Money Act, to establish a sound money system in the Show-Me State.
Described by Citizens for Sound Money as "the most comprehensive sound money bill in the country," SB 735 lays new groundwork for the use of gold and silver as legal tender in the United States.
The bill's summary states that its purpose is to modify and create new provisions relating to the sole purpose of regulating the use of gold and silver. Specifically, SB 735 exempts all bullion and investment coin purchases from income taxation.
"SB 735 creates the 'Constitutional Money Act' and declares that specie legal tender and electronic currency, as those terms are defined in the act, shall be accepted as payment for all public debts and may be received as payment for all private debts contracted for in the state of Missouri, in the discretion of the receiving entity," reads Section 408.010 of the bill.
"The Director of the Department of Revenue is required to promulgate rules on the methods of acceptance of specie legal tender as payment for any debt, tax, fee, or obligation owed. Costs incurred in the course of verification of the weight and purity of any specie during any such transaction shall be borne by the receiving entity."
Where the Constitutional Money Act is lacking is in its handling of FRNs, which are not explicitly prohibited for use as legal tender. Had the legislation prohibited the use of FRNs, Missouri would be well on its way to freeing itself entirely from the shackles of the private Federal Reserve.
"The bill still allows payment in Federal Reserve Notes which is illegal per Article 1 Section 10," tweeted "mike x" (@ratsmachine) on X. "The state must move to end the illegal occupation by the Federal Reserve Bank."
Citizens for Sound Money responded to this by stating that no individual state can ban federal legal tender, which at the current time is FRNs.
"The states however can execute their constitutional right to make gold and silver legal tender per Article I Section X Clause I of the Constitution."
Banks in Missouri are unaffected by the bill's passage, unless they choose to start accepting gold and silver in addition to FRNs.
"This is way more comprehensive than the Texas bill," Citizens for Sound Money further noted about Missouri's sound money legislation. "Texas only has a state depository; they don't have anything else, unfortunately. But we are working with our partners at @economicwarroom (Economic War Room) to get it done in Texas."
The full article can be read at NaturalNews.com
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