Ron Paul’s Free Competition in Currency Act Lives On

[jeff of pa]

The newly introduced bill H.R. 77 seeks to repeal Section 5103 or title 31, which states "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts." This would be replaced by "5103. [Repealed]."
The bill also provides that no tax may be imposed with the respect to the sale, exchange, or other disposition of any coin, medal, token, or gold, silver, platinum, palladium, or rhodium bullion, whether issued by a State, the United States, a foreign government, or any other person. Further, no state may asses any tax or fee any any currency or monetary instrument used in the transaction of interstate or foreign commerce which is subject to the enjoyment of legal tender status under article I, section 10 of the United States Constitution.

Ron Paul’s Free Competition in Currency Act Lives On | Coin Update

 

Amazon Forum Fav 👍

Agony and Death on a Gold Rush Steamer: The Disastrous Sinking of the Side-Wheeler Yankee Blade - Grab it through Amazon!

[jim4silver]

Sounds like a great idea, which is why it will probably never pass. Especially considering the tone of the last election (let's tax as much as we can!!!!). They know that many people are gonna be buying more gold and silver and if that stuff ever really goes up in price, I doubt they will knowingly lose that tax revenue when the PM bugs finally sell.

Funny today I spoke with an acquaintance that voted for hope and change this last time. He said he found out his take him pay this year will be less because of the social security tax being raised to its old level. He thought only the "rich" were going to have to pay more taxes (he probably makes $50K-$60K per year). He now regrets his vote but its too late.

I would imagine more voters will experience the same thing as the year progresses.

Jim