There’s only one kind of money authorized by the U.S. Constitution: gold and silver.
“No State shall […] make any Thing but gold and silver Coin a Tender in Payment of Debts.”
We know why the Founders insisted on this – because governments throughout history had attempted to conjure value from thin air and back money with nothing more than their word . . . and it always ended in collapse.
They understood sound money. Sadly, our leaders today do not.
But while our government ignores its constitutional mandate, some of us continue to use gold and silver because, unlike Federal Reserve notes, they have intrinsic value. They are real money.
But it’s not enough that the government ignores its mandate to use gold and silver currency.
They want to punish you for using it, too.
But last week, Rep. Alexander Mooney (R-WV) introduced legislation to protect your right to use gold and silver money.
H.R. 8279 is a simple, common-sense measure that declares gold and silver are not taxable.
This bill simply upholds the U.S. Constitution by saying you cannot be penalized for converting your dollars (Federal Reserve notes) to gold and silver and vice-versa.
You would think that wouldn’t be controversial.
This bill is the first step toward allowing sound money banking, where you can hold real physical gold and/or silver in a bank and use it in transactions!
With inflation dealing a staggering blow to most households and the national debt threatening the very security of our country, there could not be a more important time to strike a blow to the Federal Reserve’s fiat currency by recognizing gold and silver as money.
Campaign for Liberty has fought for – and won – battles in multiple U.S. States to make gold and silver legal tender within the state.
In fact, so far six states have adopted legal tender laws exempting precious metals from state taxation, thanks to the activism of Campaign for Liberty supporters like you.
And Campaign for Liberty groups continue to make progress on this legislation in countless other states.
Amazingly, the sky didn’t fall when these legal tender bills were signed into law – despite the warnings of their detractors.
As we speak, the Fed is threatening to unleash its Central Bank Digital Currency (CBDC) on this nation, complete with establishing ESG (environmental, social, and governance, or “woke”) metrics to “regulate” banks and their customers’ personal behavior and political beliefs.
There could not be a more critical or timely idea than offering Americans a real, physical, and private alternative to our fiat dollar.
Just imagine the control the Feds will have over you with their CBDC system and ESG metrics. . .
They could stop your spending on guns . . . purchases like beef at the grocery store . . . donations to candidates they don’t like . . . support for homeschool curriculum programs, or giving your money to the “wrong” church.
The Federal Reserve’s fiat dollar causes debt, inflation, and boom-and-bust cycles in the markets.
The banking system is already enforcing their “woke” ideals on gun stores and manufacturers to run them out of business, and things will get much worse if the Fed gets to implement their CBDC system with ESG metrics. They could get total control over your thoughts and actions.
So, just imagine a country with a dollar backed by gold and silver again, and no Federal Reserve with monopoly control over the money supply.
Just imagine a country with no inflation, virtually no debt, and food and housing at sustainable prices.
Just imagine being able to save sound money in a bank account, with interest, and being able to retire on the proceeds without being forced to rely on boom-and-bust markets!
Just imagine a country with a growing middle class again!
And just imagine a money system where the Fed cannot use a digital currency to control your thoughts and actions.
H.R. 8279 will exempt transactions in gold and silver from all federal taxation, helping consumers and businesses. It will set the foundation for restoring sound money banking in America.
With this bill, Americans will no longer be forced to store their savings in fiat currency, which is guaranteed to lose purchasing power over time.
Instead, they will be able to store their savings in gold and silver and accumulate real wealth, as gold and silver have typically grown in purchasing power over time.
For Liberty,
John McCardell | Executive Director
