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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 !