Tuesday, March 24, 2009

Constitutional Tender Act

Franklin Sanders in his daily commentary (or sometimes daily commentary) reports, "Susan & I took off for Atlanta last night, about 6 hours away on word from a friend with the Constitutional Tender Act www.constitutionaltender.com. Georgia Rep. Bobby Franklin entered the act which requires the state to perform its duty under US Constitution Art. I, Section 10 to make nothing but gold and silver coin a tender in payment of debt. Today the House Committee on Banks & Banking held a hearing,& the bill's supporters asked me to testify.

Needless to say, the banks will fight it tooth & toenail, because they don't understand it. If they did, they would support it as it offers the only chance for them to survive. Listening to the banking lobbyists specious objections,it dawned on me: Their time is past. A wave of revulsion against fiat money & uncontrolled fractional reserve banking will become a tidal wave as the economic crisis deepens. Within two decades at most, the fiat system will be dead, and with it, banking as we know it today.

The group behind the bill made stunningly adept & forceful presentations. It was an historic occasion, one I have longed to see for over 40 years, a state legislative body seriously listening to the requirements of constitution & common sense. Thank God I was privileged to witness it!
Mark this, and remember: we are witnessing the end of fiat. We will see silver & gold restored as money, & with them, lasting & stable prosperity. But first the old must die."

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