Ten Topics on Silver
(Each in exactly 101 Words!)
Silver Stock Report
by Jason Hommel, May 24th, 2010
Usury.
Lending at interest (usury) is the bane of our era, the highest crime of the ages, condemned by prophets, regulated by God, and ignored by modern man. God said no usury, unless you loan to other nations, but every seventh year is supposed to be a time of debt forgiveness, thus, it's a plan to teach the nations about God, yet abused instead to enslave people into perpetual bondage. Usurers want the whole earth, plus 6%! Lending is not so much a problem as is the interest! When gold is money, gold grows more valuable over time, so "increase" is built in!
The Big Picture for Silver.
No nation on earth uses silver or gold as a circulating medium of exchange, or common currency. This trend to not use silver started over 150 years ago, and has come to an end. If monetary demand for silver changes, it can only go up. Money is also a store of value, and people are recognizing that more and more. About 65 years ago, at the end of WWII, the world entered the age of electronics, and the demand for silver in electrical contacts soared tenfold. This has consumed more than half of all the silver ever mined since the beginning of time.
Supply and Demand for Silver.
The world annual mine output for silver is about 600 million oz., with about another 200 million oz. from recycling, and another 100 million oz. from selling from other sources. Industrial consumption is about 45%, jewelry consumes about 25%, photography is down to about 15%, leaving about 15% for investor demand. Investors buy about 100 to 150 million oz. of silver per year, which is barely $2 billion. Yet the BIS estimates that most all of the worlds' banks have $200 billion in "other precious metal" (or silver) notional value worth of derivatives on the books, indicating that all paper silver is all fraud. Paper money, unbacked by silver, is fraud, too.
Eternal Properties of Silver.
Silver is rare, dense, fungible, divisible, transportable, non perishable. These qualities unique to both silver and gold make them both an excellent store of value, unit of account, and medium of exchange. Silver is the best reflector, and the best electrical conductor in the world, and is a great germ killer, too. These qualities make silver valuable in tiny quantities to industry. Gold conducts less well than silver, does not kill germs, is too expensive to consume, and is not a viable alternative. Neither is paper. Gold coins smaller than 1/10 of an oz. are not practical, making silver essential as money.
Exchange Traded Silver Funds.
JP Morgan is the custodian of the silver for the silver ETF, SLV. JP Morgan is also the largest trader of derivatives on the earth, and the holder of the large excessive and concentrated short position in silver on the COMEX, and is being investigated by both the CFTC and the US Justice Department. The proof is not on me to prove they don't have the silver. Proof should be on them to prove that they are an honest custodian. SLV's silver is not able to be audited, and you can't take delivery. Silver is payment in full, not a promise.
Futures Contracts.
Many people are deceived by greed, thinking they can earn more money if they buy silver on leverage, putting only part of the money down as payment, to enable them to "control" more silver. But if they don't take delivery of silver, then they are not buying silver, and not controlling any silver, but only get a phantom promise of silver from entities who could not possibly have enough silver to make full delivery. It's like the fraud of fractional reserve banking, but business as usual today. I believe it is a moral failure to be deceived by these con games.
Silver Certificates.
Certificates and storage programs are a worse con. Pay full price to be conned with storage of silver that does not exist! Canadian banks and Morgan Stanley have both been caught selling non existent silver to clients in the past ten years, and their defense is that it is business as usual; that everybody does it. Sending brokerage statements showing silver amounts, when no silver exists, should be one count of mail fraud for every customer! It amazes me that many people do not have the courage and responsibility that is required to guard their silver. No work equals no results.
Collector Coins.
Many investors are lured into the precious metals market by dealers such as Goldline who is advertised on Glenn Beck. They mark up "collector" coins anywhere up to 30-100% over spot. There is no crime in charging a high price, but the scheme is borderline criminal. By selling older coins as "non-confiscable," they confiscate nearly half of an investor's money right off the top! By selling those same coins through a leverage program, they don't even have to deliver if the customer does not come up with all the money, and thus, may be selling collector coins that do not exist.
Silver Stocks.
I was guilty of talking up silver stocks, as a way to gain leverage to the rising price of silver. What the market gave, it took away. Even my extremely profitable newsletter that showed a look at my portfolio is now in the dustbin, a relic of internet history. But new internet investors have popped up, claiming great gains as they bought on the dip in 2008. Too late to chase such gains now. Stocks are subject to capital gains, nationalization risk, mismanagement risk, debt risk, funding risk, futures market hedging risk, mine collapse risk, strike risk, tax risk. Why risk it?
Bullion Items
When you buy physical silver, it comes in the form of actual shapes, which we call products. Popular forms of 99.9% pure silver are 100 oz. bars, 10 oz. bars, 1 oz. rounds, 1 troy oz. silver Eagles. There is also 90% silver coinage dated from 1964 and earlier. Occasionally, we get odd weight silver bars, 5 oz. silver bars, 1 oz. silver bars or other odd shaped silver pieces. And there are also the 1000 oz. COMEX bars, each one varies by weight up to 10%, with the exact weight stamped on the bar. Ten oz. bars are popular; they used to be the most expensive form, but now, the cheapest.
JH MINT & Coin Shop, Grass Valley, CA
(530) 273-8175
http://www.jhmint.com/
Monex- The lowest cost Gold and Silver retailer. Paul Bea account rep.
800-949-4653 x2172 Use Kevin from UScivilflags.org as referral to support this site.
Wednesday, May 26, 2010
Saturday, May 22, 2010
Why People are Buying Silver and Gold
Many people today are cashing out their CD's to buy silver and gold. Why?
The obvious.
The CD's pay next to zero interest, and gold and silver continue to head up by 20-30% per year.
Most of our gold and silver buying customers have completely lost faith in the government's ability to "run" the economy, but more than that, there is a real fear of the government today, that it will turn dramatically totalitarian and that we will lose nearly all of our freedom.
The best time to own gold is when the government starts taking more of your money. Silver and gold ownership prevents government from confiscating your wealth through inflation, and more and more people see the inflationary threat of massive $2+ trillion deficits, which are being met by printing more money.
A typical first time customer comes into our coin shop at the JH MINT, and says, "Hey this place looks really nice!" We designed it to look a bit upscale, with plenty of room to hang out, with nice couches to be able to sit down to talk.
They typically say, I've been doing a bit of research online about silver and gold, but I really know nothing about silver and gold, so what can you tell me?
To answer in person, I must get to the point quickly, as other customers will soon come in next.
So I like to show them, and let them hold a gold coin, and let them compare the heft and weight compared with a silver coin. Gold is twice as dense as silver, and the difference is easily discerned when you hold them. A 1 oz. gold coin is just a tad thicker than a half ounce silver coin, which is a bit thinner, and much, much lighter. Since silver is 1/2 the weight, a similar sized silver coin, gold plated, would be about 1/4 of the weight of a gold coin!
Thus, the brass or copper core, gold plated, "authentic replicas" as old on TV make a beautiful comparison to show how difficult it is to counterfeit gold.
So when they hold gold, they know it's something real, and real special.
People continue to ask, "Which is better, silver, or gold?"
I tell people, we like silver best, because it's a much smaller market.
World annual silver mining is about $10 billion, but world annual gold mining is about $80 billion.
But most of the silver market is consumed by industry, as silver is used in all sorts of electrical contacts and devices. In fact, industry consumes more silver than world annual mine supply, and the gap is being met by recycling.
So the amount of silver left over for investors is shockingly small, perhaps only $2 billion.
The silver story is surprisingly simple. The entire world once used silver as money, but today, no nation on earth has silver circulating as currency. This reduced monetary demand has created a very low price.
But silver remains a better store of wealth than ever, due to the increased scarcity, and the growing awareness of silver ownership as a way to make money.
Money is more than a currency or medium of exchange, it's also a store of value. As demand for silver, as a store of value, increases, so will the price, and this demand will continue as a positive feedback loop that will eventually destroy paper money.
But the real shocking fact of the silver market is that 99% of silver investors are getting scammed by paper silver, that is basically all fraud.
The proof of this is the BIS report, from the Bank of International Settlements, here:
http://www.bis.org/statistics/otcder/dt21c22a.pdf
The proof is in the numbers. The BIS keeps track of the derivatives of the banks worldwide. It shows that the notional value of "other precious metals" over the counter derivatives, which are mostly all silver, increased from $100 billion to over $200 billion in six months.
When the entire annual physical silver investment market is only $2 billion, and when the paper silver investment market increased by $100 billion in six months, there is only one way that can happen. The paper must be all fraud.
Goldmoneybill.org- Spreading the word about Sound money.
=====
I asked several bullion dealing managers why people are buying precious metals:
Matt, at rocklincoinshop.com, says:
Now more than ever, it seems that people are becoming increasingly aware of the growing instability of the dollar. With the national debt climbing, and the future of our nation’s currency looking less bright every day, people are looking for ways to protect their wealth against inflation and the ever-crumbling banking system. After doing some research, most of them come to realize that purchasing precious metals like silver and gold is the most reliable method for storing their wealth in a way that will ensure that their hard-earned capital will retain its spending power and viability despite an economy with a future that is shoddy, at best.
Cont'@ Source
Monex is the low-cost gold and Silver retailer. Paul Bea @ monex 800-949-4653 x2172
To support Goldmoney use Kevin from Goldmoneybill.org as referral.
The obvious.
The CD's pay next to zero interest, and gold and silver continue to head up by 20-30% per year.
Most of our gold and silver buying customers have completely lost faith in the government's ability to "run" the economy, but more than that, there is a real fear of the government today, that it will turn dramatically totalitarian and that we will lose nearly all of our freedom.
The best time to own gold is when the government starts taking more of your money. Silver and gold ownership prevents government from confiscating your wealth through inflation, and more and more people see the inflationary threat of massive $2+ trillion deficits, which are being met by printing more money.
A typical first time customer comes into our coin shop at the JH MINT, and says, "Hey this place looks really nice!" We designed it to look a bit upscale, with plenty of room to hang out, with nice couches to be able to sit down to talk.
They typically say, I've been doing a bit of research online about silver and gold, but I really know nothing about silver and gold, so what can you tell me?
To answer in person, I must get to the point quickly, as other customers will soon come in next.
So I like to show them, and let them hold a gold coin, and let them compare the heft and weight compared with a silver coin. Gold is twice as dense as silver, and the difference is easily discerned when you hold them. A 1 oz. gold coin is just a tad thicker than a half ounce silver coin, which is a bit thinner, and much, much lighter. Since silver is 1/2 the weight, a similar sized silver coin, gold plated, would be about 1/4 of the weight of a gold coin!
Thus, the brass or copper core, gold plated, "authentic replicas" as old on TV make a beautiful comparison to show how difficult it is to counterfeit gold.
So when they hold gold, they know it's something real, and real special.
People continue to ask, "Which is better, silver, or gold?"
I tell people, we like silver best, because it's a much smaller market.
World annual silver mining is about $10 billion, but world annual gold mining is about $80 billion.
But most of the silver market is consumed by industry, as silver is used in all sorts of electrical contacts and devices. In fact, industry consumes more silver than world annual mine supply, and the gap is being met by recycling.
So the amount of silver left over for investors is shockingly small, perhaps only $2 billion.
The silver story is surprisingly simple. The entire world once used silver as money, but today, no nation on earth has silver circulating as currency. This reduced monetary demand has created a very low price.
But silver remains a better store of wealth than ever, due to the increased scarcity, and the growing awareness of silver ownership as a way to make money.
Money is more than a currency or medium of exchange, it's also a store of value. As demand for silver, as a store of value, increases, so will the price, and this demand will continue as a positive feedback loop that will eventually destroy paper money.
But the real shocking fact of the silver market is that 99% of silver investors are getting scammed by paper silver, that is basically all fraud.
The proof of this is the BIS report, from the Bank of International Settlements, here:
http://www.bis.org/statistics/otcder/dt21c22a.pdf
The proof is in the numbers. The BIS keeps track of the derivatives of the banks worldwide. It shows that the notional value of "other precious metals" over the counter derivatives, which are mostly all silver, increased from $100 billion to over $200 billion in six months.
When the entire annual physical silver investment market is only $2 billion, and when the paper silver investment market increased by $100 billion in six months, there is only one way that can happen. The paper must be all fraud.
Goldmoneybill.org- Spreading the word about Sound money.
=====
I asked several bullion dealing managers why people are buying precious metals:
Matt, at rocklincoinshop.com, says:
Now more than ever, it seems that people are becoming increasingly aware of the growing instability of the dollar. With the national debt climbing, and the future of our nation’s currency looking less bright every day, people are looking for ways to protect their wealth against inflation and the ever-crumbling banking system. After doing some research, most of them come to realize that purchasing precious metals like silver and gold is the most reliable method for storing their wealth in a way that will ensure that their hard-earned capital will retain its spending power and viability despite an economy with a future that is shoddy, at best.
Cont'@ Source
Monex is the low-cost gold and Silver retailer. Paul Bea @ monex 800-949-4653 x2172
To support Goldmoney use Kevin from Goldmoneybill.org as referral.
Germany's Indentured Servitude 66% of all Taxes goes to Banks
And history repeats itself.
Germany’s parliament today passed a bill that will mean that about 66 per cent of the country’s income tax revenue each year will go to banks in the form of interest payments on souvereign dent bonds held by Greece, Portugal and other eurozone nations.
Chancellor Angela Merkel’s centre-right coalition government voted to give 123 billion as Germany’s portion of a 750-billion euro loan guarantee package prepared by the European Union and the International Monetary Fund to enable governments to keep up interest payments to banks on souvereign debt.
The bill was passed by the Bundestag with with 319 "yes" votes, 73 "no" votes and 195 abstentions.
The abstentions came from the center-left opposition Greens and Social Democrats (SPD) and a handful of CDU/CSU and FDP backbenchers.
The 123 billion euro bank package comes on top of the 22.4 billon that Germany’s parliament voted to give Greece two weeks ago.
German taxpayers will, therefore, have to give 145 billion euros or 77% of the country’s annual income tax revenue to the banks in the highly likely event of Greece, Portugal and other countries not being able to meet their souvereign debt interest payments.
A German accountancy website allowing people to calculate what portion of their income tax will go to fund the banks reveals that a man earning 30,000 euros a year, and paying income tax of 5,625 euros, will be giving 3,709 euros to banks as part of the 123 billion eurozone “rescue” package.
He will be giving another 675 euros as part of the 22 billion euro Greek “rescue” package.
Germany spends another 40 billion a year paying interest on its national debts, which were created by the bank bailout and stimulus in the first place.
This means that another 1,200 euros of the 5,625 euros collected in income tax from a man earning 30,000 euros a years goes on interest payments on the national debt.
In this case, a total of 5584 euros or 99% in income tax is being paid directly to banks such as Deutsche Bank and Goldman Sachs by the German government in the form of interest payments on national and international eurozone debts.
As a result of this bill, only 41 euros of the total annual income tax of 5,625 could soon be available for the government to spend on education, pensions, hospitals and welfare and such like.
41 euros is 0.72% of the total income tax paid by a man earning 30,000 euros each year.
The Merkel government has just announced a raft of deep cuts and tax hikes, which will increase the proportion of the country’s income flowing to the banks and accelerate an economic collapse that could be much more severe than the Great Depression of the 1930s.
The transfer of almost the country’s entire tax revenues to the banks shows that the politicians in Germany are working hand in glove with banks to loot the people on an unprecedented scale under the smokescreen created by the mainstream media.
Though sold by the controlled media as “aid for Greece”, none of the money will go to the people of Greece...
Source
Goldmoneybill.org- seeking the return of Sound Money.
Silver the commoner's weapon to slay the banks. Monex is the low-cost Silver and Gold retailer. Paul Bea @ monex 800-949-4653 x2172 Use Kevin from Goldmoneybill.org as referral to help support the return to sound money.
Germany’s parliament today passed a bill that will mean that about 66 per cent of the country’s income tax revenue each year will go to banks in the form of interest payments on souvereign dent bonds held by Greece, Portugal and other eurozone nations.
Chancellor Angela Merkel’s centre-right coalition government voted to give 123 billion as Germany’s portion of a 750-billion euro loan guarantee package prepared by the European Union and the International Monetary Fund to enable governments to keep up interest payments to banks on souvereign debt.
The bill was passed by the Bundestag with with 319 "yes" votes, 73 "no" votes and 195 abstentions.
The abstentions came from the center-left opposition Greens and Social Democrats (SPD) and a handful of CDU/CSU and FDP backbenchers.
The 123 billion euro bank package comes on top of the 22.4 billon that Germany’s parliament voted to give Greece two weeks ago.
German taxpayers will, therefore, have to give 145 billion euros or 77% of the country’s annual income tax revenue to the banks in the highly likely event of Greece, Portugal and other countries not being able to meet their souvereign debt interest payments.
A German accountancy website allowing people to calculate what portion of their income tax will go to fund the banks reveals that a man earning 30,000 euros a year, and paying income tax of 5,625 euros, will be giving 3,709 euros to banks as part of the 123 billion eurozone “rescue” package.
He will be giving another 675 euros as part of the 22 billion euro Greek “rescue” package.
Germany spends another 40 billion a year paying interest on its national debts, which were created by the bank bailout and stimulus in the first place.
This means that another 1,200 euros of the 5,625 euros collected in income tax from a man earning 30,000 euros a years goes on interest payments on the national debt.
In this case, a total of 5584 euros or 99% in income tax is being paid directly to banks such as Deutsche Bank and Goldman Sachs by the German government in the form of interest payments on national and international eurozone debts.
As a result of this bill, only 41 euros of the total annual income tax of 5,625 could soon be available for the government to spend on education, pensions, hospitals and welfare and such like.
41 euros is 0.72% of the total income tax paid by a man earning 30,000 euros each year.
The Merkel government has just announced a raft of deep cuts and tax hikes, which will increase the proportion of the country’s income flowing to the banks and accelerate an economic collapse that could be much more severe than the Great Depression of the 1930s.
The transfer of almost the country’s entire tax revenues to the banks shows that the politicians in Germany are working hand in glove with banks to loot the people on an unprecedented scale under the smokescreen created by the mainstream media.
Though sold by the controlled media as “aid for Greece”, none of the money will go to the people of Greece...
Source
Goldmoneybill.org- seeking the return of Sound Money.
Silver the commoner's weapon to slay the banks. Monex is the low-cost Silver and Gold retailer. Paul Bea @ monex 800-949-4653 x2172 Use Kevin from Goldmoneybill.org as referral to help support the return to sound money.
Tuesday, May 4, 2010
The Intent of the Gold Money Bill
For use in introducing the concept of Gold/Silver Sound Money to others
including your elected officials.
~ The Gold/Silver Sound Money Bill would provide CONSTITUTIONAL Money – Money of True Value rather than money based on “debt” – for your State Treasury to AUGMENT (NOT replace) the Federal Reserve Notes (FRNs) currently being used. It has been called an example of “A Constitutional Money Bill.”
~ Initially a state would REQUIRE tobacco suppliers, and/or others of the so-called “sin”
industries (liquor, casinos, etc.) in your state, to pay their state fees and taxes in Gold/Silver Sound Money (Gold and/or Silver coin, based on weight, Not face value, OR the Digital equivalent). This would supply your state Treasury with the needed specie (funding in coin) or the Digital equivalent of funds to assure that your state would NOT need to earmark or provide any other separate funds. This ensures that your alternative Gold/Silver Sound Money
model will function from the very beginning. Once the Gold/Silver Sound Money model is
up and running, other businesses and citizens, so inclined, would also be encouraged, on a volunteer basis, to use this system for payments to or from your state.
~ The Gold/Silver Sound Money system is Voluntary for those so inclined, but MANDATORY for the businesses indicated above. A citizen or other business could, however, participate in the Gold/Silver Sound Money system at any level they wished, and would NOT be tied to using the system for All transactions with the state, but at a level and frequency each could determine for themselves. The Gold/Silver Sound Money system can function as both a One-Way system or a Two-Way system depending on the citizen’s or non-mandatory business’s wishes. Each could just Receive Gold/Silver Sound Money from the state as a receivable system OR use it for paying obligations to the state or a Combination of both. If one worked for the state he/she could receive their weekly /monthly pay as Gold/Silver Sound Money, in total, or as just a portion.
~ The Gold/Silver Sound Money system is nothing more than a way of providing people and businesses with an Alternative to being compelled to use Federal Reserve Notes (FRNs) for business or private transactions by using real money of “true value” as opposed to FRNs which are actually “debt” instruments. There could come a day when these “debt” instruments may no longer be viable. The Gold/Silver Sound Money Bill, in the interim, will help people become familiar with this alternative to carrying on business. It would also be a way for states to get their own houses in order and start conforming to the Constitution which the states are obligated to support.
~ The Gold/Silver Money Bill, which is compatible for any of the 50 states, was written by well known Constitutional scholar and practicing Constitutional lawyer, Dr. Edwin Vieira, Jr, who has numerous wins in the Supreme Court on Constitutional issues. The current Indiana version, which includes the addition of the Digital component when using Gold/Silver Sound Money, is available for viewing at http://indianahonestmoney.com …and is available to capture and print off or download and modify for your state. The Gold/Silver Sound Money Bill was researched extensively over many years and written to conform specifically with the Constitution !
~ The Gold/Silver Sound Money Bill was modified (the addition of a Digital component for ease of use) since it was originally introduced in the New Hampshire legislature back in 2004. This addition will make it easier for people to use Gold/Silver Sound Money on a day to day basis. The previous argument against having to use unwieldy coins in transactions was put to bed with this twist of being able to also use a Digital equivalent electronically. There are compatible systems already in place that deal in the transfer of digital Gold and Silver and these systems would be able to dovetail nicely with The Gold/Silver Sound Money Bill. Many can be funded by bank wire transfer or some other intermediary. Some of these, that might be considered to serve as the interface with the states. are: c-gold, goldmoney.com, GoldExchange, CrowneGold, Liberty Reserve, Pecunix, London Gold Exchange, etc. Each state would choose one or a combination to serve as its interface(s) based on pedigree, reputation, reliability, and scalability.
~ One system, we’re familiar with, uses both Gold and Silver that is insured by Lloyd’s of London and stored in secured, monitored and audited vaults, and can be transferred Digitally, via the Internet, to anyone with an account – such as the one set up and utilized by your state. The monthly storage and transfer fees are very reasonable for this secure, Digital delivery system. Your state would simply set up an account and a citizen or vendor would do the same and use the account to either Pay or Receive Digital Gold/Silver (or receive actual coins at your state treasury). Some of the interfaces have accounts with bullion suppliers which allows citizens to actually convert their account assets into physical Gold/Silver and have it sent directly to them.
~ Think of The Gold/Silver Money Bill as an Insurance Policy for your state. If our fiat money system ever fails to function, then your state would have a system Up and Running to help
businesses and people function. Besides, as mentioned above, your state will, finally, again be in
full compliance with the Constitution for the United States of America. “No state shall…make any Thing but gold and silver Coin a Tender in Payment of Debts…” Article 1, Section 10.
If you have questions about The Gold/Silver Sound Money Bill and/or how your state might move
forward with implementation, contact Harvey Wharfield at mentor2@gmail.com
or call 978 – 635 – 9586 anytime, between 11am and 11pm, Eastern !
including your elected officials.
~ The Gold/Silver Sound Money Bill would provide CONSTITUTIONAL Money – Money of True Value rather than money based on “debt” – for your State Treasury to AUGMENT (NOT replace) the Federal Reserve Notes (FRNs) currently being used. It has been called an example of “A Constitutional Money Bill.”
~ Initially a state would REQUIRE tobacco suppliers, and/or others of the so-called “sin”
industries (liquor, casinos, etc.) in your state, to pay their state fees and taxes in Gold/Silver Sound Money (Gold and/or Silver coin, based on weight, Not face value, OR the Digital equivalent). This would supply your state Treasury with the needed specie (funding in coin) or the Digital equivalent of funds to assure that your state would NOT need to earmark or provide any other separate funds. This ensures that your alternative Gold/Silver Sound Money
model will function from the very beginning. Once the Gold/Silver Sound Money model is
up and running, other businesses and citizens, so inclined, would also be encouraged, on a volunteer basis, to use this system for payments to or from your state.
~ The Gold/Silver Sound Money system is Voluntary for those so inclined, but MANDATORY for the businesses indicated above. A citizen or other business could, however, participate in the Gold/Silver Sound Money system at any level they wished, and would NOT be tied to using the system for All transactions with the state, but at a level and frequency each could determine for themselves. The Gold/Silver Sound Money system can function as both a One-Way system or a Two-Way system depending on the citizen’s or non-mandatory business’s wishes. Each could just Receive Gold/Silver Sound Money from the state as a receivable system OR use it for paying obligations to the state or a Combination of both. If one worked for the state he/she could receive their weekly /monthly pay as Gold/Silver Sound Money, in total, or as just a portion.
~ The Gold/Silver Sound Money system is nothing more than a way of providing people and businesses with an Alternative to being compelled to use Federal Reserve Notes (FRNs) for business or private transactions by using real money of “true value” as opposed to FRNs which are actually “debt” instruments. There could come a day when these “debt” instruments may no longer be viable. The Gold/Silver Sound Money Bill, in the interim, will help people become familiar with this alternative to carrying on business. It would also be a way for states to get their own houses in order and start conforming to the Constitution which the states are obligated to support.
~ The Gold/Silver Money Bill, which is compatible for any of the 50 states, was written by well known Constitutional scholar and practicing Constitutional lawyer, Dr. Edwin Vieira, Jr, who has numerous wins in the Supreme Court on Constitutional issues. The current Indiana version, which includes the addition of the Digital component when using Gold/Silver Sound Money, is available for viewing at http://indianahonestmoney.com …and is available to capture and print off or download and modify for your state. The Gold/Silver Sound Money Bill was researched extensively over many years and written to conform specifically with the Constitution !
~ The Gold/Silver Sound Money Bill was modified (the addition of a Digital component for ease of use) since it was originally introduced in the New Hampshire legislature back in 2004. This addition will make it easier for people to use Gold/Silver Sound Money on a day to day basis. The previous argument against having to use unwieldy coins in transactions was put to bed with this twist of being able to also use a Digital equivalent electronically. There are compatible systems already in place that deal in the transfer of digital Gold and Silver and these systems would be able to dovetail nicely with The Gold/Silver Sound Money Bill. Many can be funded by bank wire transfer or some other intermediary. Some of these, that might be considered to serve as the interface with the states. are: c-gold, goldmoney.com, GoldExchange, CrowneGold, Liberty Reserve, Pecunix, London Gold Exchange, etc. Each state would choose one or a combination to serve as its interface(s) based on pedigree, reputation, reliability, and scalability.
~ One system, we’re familiar with, uses both Gold and Silver that is insured by Lloyd’s of London and stored in secured, monitored and audited vaults, and can be transferred Digitally, via the Internet, to anyone with an account – such as the one set up and utilized by your state. The monthly storage and transfer fees are very reasonable for this secure, Digital delivery system. Your state would simply set up an account and a citizen or vendor would do the same and use the account to either Pay or Receive Digital Gold/Silver (or receive actual coins at your state treasury). Some of the interfaces have accounts with bullion suppliers which allows citizens to actually convert their account assets into physical Gold/Silver and have it sent directly to them.
~ Think of The Gold/Silver Money Bill as an Insurance Policy for your state. If our fiat money system ever fails to function, then your state would have a system Up and Running to help
businesses and people function. Besides, as mentioned above, your state will, finally, again be in
full compliance with the Constitution for the United States of America. “No state shall…make any Thing but gold and silver Coin a Tender in Payment of Debts…” Article 1, Section 10.
If you have questions about The Gold/Silver Sound Money Bill and/or how your state might move
forward with implementation, contact Harvey Wharfield at mentor2@gmail.com
or call 978 – 635 – 9586 anytime, between 11am and 11pm, Eastern !
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