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IPFS News Link • Texas

Texas Bill to Establish Gold & Silver as Legal Tender, Dealing Massive Blow to Federal Reserve


A bill recently introduced in Texas seeks to obliterate the Federal Reserve's much-maligned monopoly on currency by establishing gold and silver as legal tender — but the groundbreaking legislation, if passed, would also prohibit those precious metals from being seized by State authorities.

If passed, Texans would secure stability by reclaiming their purchasing power — without being subject to the whims of The Fed — an institution widely regarded as a devious manipulator of currencies and markets.

Senator Bob Hall introduced the bill last month, which, the Tenth Amendment Center explains, "declares specifically that certain gold and silver coins are legal tender, and prohibits any tax, charge, assessment, fee, or penalty on any exchange of Federal Reserve notes (dollars) for gold or silver. The bill authorizes the payment of taxes and fees in gold & silver in certain circumstances. It would also prohibit the seizure of gold or silver by state authorities."

Further subverting the current economy's fealty to Dr. Ron Paul's Enemy Number One, SB 2097, as the legislation is better known, would prevent any contracts explicitly to be paid in silver or gold to be instead paid with Federal Reserve notes — if you agree to pay in precious coins, you cannot then proffer payment in dollars.

Enforcing such contracts legally, the Tenth Amendment Center notes, would encourage their proliferation — and that of gold and silver coinage.

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