Tag Archives: silver

Digital $$$ – Get Physical Assets

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Via Greg Hunter’s USAWatchdog.com,

Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts says big change is ahead of the world, and “nothing will ever be the same.”

Fitts lays out the so-called “reset” you’ve been hearing about for the past few years and says,

“We are in the process that I would recall is a global reset. The entire financial system is being reset. There are two aspects of this: One is extending the old system, and the other is bringing in the new system. It’s very much being done on the fly by trial and error, but the new system is 100% digital.”

The new system, according to Fitts, will be a top down control system where “tyranny” will be the key feature. Fitts predicts,

“If you look at the tyranny they are working on delivering, I don’t think most people realize how hideous some of their plans are. So, the tyranny that’s coming and the printing that’s coming is greater than anything we have seen so far…

The Fed started a new round of QE in March, and if you look at the extent of that, it is extraordinarily inflationary. That’s because this time around, the Fed is not just doing $3 trillion in QE. What the Fed did in three or four months, what it took them to do in three to five years during the so-called financial crisis, that is an extraordinary amount. Then you combine it with fiscal stimulus because the Fed is now buying the Treasuries… and the Treasury is sending checks out to Main Street. We are seeing that money going into the economy that is extraordinarily inflationary.”

Fitts describes the overall situation, “We are basically entering into a war period, and it’s dangerous…”

“There are many different layers, but this is what World War III looks like.

The people running things and centralizing economic power and control are saying we don’t want to share the subsidy anymore with the general population…

This is a spiritual war between good and evil. Part of that war spreads out to invisible technology like mind control.”

Fitts says gold and silver will be assets to have in the future. Fitts explains,

“If you look at where they want to go, their vision is so dark that I think the more people recognize and see it, the more they are going to want simple assets they can control that are not digital and try to keep them outside the system. Globally . . . I think the pressure is going to be on to have precious metals.”

Fitts is basically predicting higher highs and higher lows for gold and silver prices for some time to come.

*  *  *

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Catherine Austin Fitts, publisher of The Solari Report.

from:     https://www.zerohedge.com/geopolitical/we-are-entering-war-period-austin-fitts-warns-nothing-will-ever-be-same?utm_campaign=&utm_content=ZeroHedge%3A+The+Durden+Dispatch&utm_medium=email&utm_source=zh_newsletter

Gold & Silver as Money

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Signed as Law: Kansas Removes Barrier to the Use of Gold and Silver as Money

May 22, 2019

By Michael Maharrey

TOPEKA, Kan. (May 22, 2019) – Last week, Kansas Gov. Laura Kelly signed a bill exempting gold and silver bullion, and other precious metals, from the state sales tax. Passage of this legislation eliminates one barrier to using gold and silver in everyday transactions, a foundational step for people to undermine the Federal Reserve’s monopoly on money.

Rep. Jim Kelly (R-Independence) introduced House Bill 2140 (HB2140) on Feb. 5. The new law exempts the sale of gold or silver coins and gold, silver, platinum, or palladium bullion from the state sales tax. Under the law, “bullion” means bars, ingots or commemorative medallions of gold, silver, platinum, palladium, or a combination thereof, for which the value of the metal depends on its content and not the form.

The sales tax exemption on gold and silver was amended into a bill authorizing various county sales tax increases. It was the one positive provision in a bill otherwise unfriendly to Kansas taxpayers. With Gov. Kelly’s signature, the law will go into effect July 1.

IN PRACTICE

With the passage of HB2140, Kansas takes a step toward treating gold, silver, platinum and palladium as money instead of commodities. As Sound Money Defense League Policy Director Jp Cortez testified during a committee hearing on a similar bill in Wyoming last year, charging taxes on money itself is beyond the pale.

In effect, states that collect taxes on purchases of precious metals are inherently saying gold and silver are not money at all.

Imagine if you asked a grocery clerk to break a $5 bill and he charged you a 35 cent tax. Silly, right? After all, you were only exchanging one form of money for another. But that’s essentially what Kansas’ sales tax on gold and silver bullion did. By removing the sales tax on the exchange of gold and silver, Kansas will treat specie as money instead of a commodity. This represents a small step toward reestablishing gold and silver as legal tender and breaking down the Fed’s monopoly on money.

“We ought not to tax money – and that’s a good idea. It makes no sense to tax money,” former U.S. Rep. Ron Paul said during testimony in support an Arizona bill that repealed capital gains taxes on gold and silver in that state. “Paper is not money, it’s fraud,” he continued.

The new law’s impact would go beyond mere tax policy. During an event after his Senate committee testimony, Paul pointed out that it’s really about the size and scope of government.

If you’re for less government, you want sound money. The people who want big government, they don’t want sound money. They want to deceive you and commit fraud. They want to print the money. They want a monopoly. They want to get you conditioned, as our schools have conditioned us, to the point where deficits don’t matter.

Practically speaking, eliminating taxes on the sale of gold and silver cracks open the door for people to begin using specie in regular business transactions. This marks an important small step toward currency competition. If sound money gains a foothold in the marketplace against Federal Reserve notes, the people will be able to choose the time-tested stability of gold and silver over the central bank’s rapidly-depreciating paper currency.

BACKGROUND INFORMATION

The United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” States have simply ignored this constitutional provision for years. It’s impossible for a state to return to a constitutional sound money system when it taxes gold and silver as a commodity.

HB2140 takes a step toward establishing gold and silver as legal tender in the state and that constitutional requirement, ignored for decades in every state. This sets the stage to undermine the monopoly of the Federal Reserve by introducing competition into the monetary system.

Constitutional tender expert Professor William Greene said when people in multiple states actually start using gold and silver instead of Federal Reserve Notes, it could create a “reverse Gresham’s effect,” drive out bad money, effectively nullify the Federal Reserve, and end the federal government’s monopoly on money.

Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a “reverse Gresham’s Law” effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes). As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions.

Once things get to that point, Federal Reserve notes would become largely unwanted and irrelevant for ordinary people. Nullifying the Fed on a state by state level is what will get us there.

Michael Maharrey [send him email] is the Communications Director for the Tenth Amendment Center, where this article first appeared. He proudly resides in the original home of the Principles of ’98 – Kentucky. See his blog archive here and his article archive here. He is the author of the book, Our Last Hope: Rediscovering the Lost Path to Liberty. You can visit his personal website at MichaelMaharrey.com

from:    https://www.activistpost.com/2019/05/signed-as-law-kansas-removes-barrier-to-the-use-of-gold-and-silver-as-money.html