April 11, 2012 - Tim Brown
South Carolina is the latest in a string of states that are seeking to recognize gold and silver as legal tender or real money.
Last year Utah became the first state in the union to legalize gold and silver as legal tender.
Last year North Carolina Republican Representative Glen Bradley addressed the issue in a currency bill. In the bill he demanded protection from hyperinflation, depression and other financial problems brought on by the “breakdown of the Federal Reserve”. This he did in lieu of the Constitution banning states from printing their own paper money and/or issuing their own currency.
This month, however, the state of South Carolina’s House Judiciary Committee has approved a similar bill. While the recognition of these precious metals as legal tender is taking place, so far local businesses have the option of whether or not to receive them as such.
Of course, who wouldn’t want to? I would imagine that big businesses such as Wal-mart and places of that nature want to strictly deal in cash, checks and credit cards, but I would assume local “mom and pop” businesses would jump at the chance to take gold or silver as payment. They could even do so on the basis of making a little bit themselves in only accepting it under the spot prices and then turning around and selling it to make a profit greater than just selling their products.
Twelve other states are pursuing the issue of instituting gold and silver as legal tender. Tennessee, Iowa, Georgia, Colorado and Minnesota are amongst the states exploring the new currency as an option. They see gold and silver as their only hedge against the devaluing of the dollar and the growing inflation in our nation.
What is so ironic in all of this, is just like the immigration issue taking place at the state level among many states is that the states are now having to enforce what the federal government is supposed to be enforcing. The coining of money is the federal government’s responsibility and the Constitution demands that states can only received gold or silver coins as payment.
Why won’t the federal government do what it is supposed to do? I’ll tell you why. It is too busy doing things it is not supposed to be doing like dealing in education, the arts, being involved in nation building, being a “charity” organization, and getting into healthcare. If they were doing what they are supposed to be doing, the states would not have to be passing bills into law about gold and silver, because as far as the U S Constitution is concerned, gold and silver are the only money states can use as payment.