Washington State Considers Gold and Silver as Legal Tender

By:  Alex Newman
01/31/2012
       
Washington State Considers Gold and Silver as Legal Tender

In an effort to protect the property of citizens from the harmful effects of inflation created by the Federal Reserve, lawmakers in Washington State introduced a bill over the weekend to declare gold and silver legal tender within the state. Sound-money advocates across the nation immediately praised the effort.

 

In an effort to protect the property of citizens from the harmful effects of inflation created by the Federal Reserve, lawmakers in Washington State introduced a bill over the weekend to declare gold and silver legal tender within the state. Sound-money advocates across the nation immediately praised the effort.

Citing several provisions of the U.S. Constitution and various rulings by the U.S. Supreme Court, the legislation notes that only gold and silver are to be considered legal tender by the states. The bill also blasts the federal government for imposing an unconstitutional monetary system on the states and for unjustly confiscating citizens’ wealth by allowing the Fed to create money.

The legislation seeks to offer the people of Washington an opportunity to use constitutional money instead of the ever-depreciating paper currency issued by the American central bank, lawmakers who sponsored the bill told The New American. However, no one would be forced to accept gold or silver as payment.

“We have leveraged our debt-based currency to the hilt and the die is cast,” said Republican Rep. Matt Shea (photo), a co-sponsor of the bill and a military veteran who supports honest money. “The Federal Reserve is faced with the position of having to further inflate our currency or have the system start to disintegrate.”

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