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FOR IMMEDIATE RELEASE
January 14, 2009
Indiana State Senator Files Gold Money Bill
Senate Bill 453, The Indiana Honest Money Act
Indiana Picks Up Where New Hampshire Left Off !
Indianapolis, Indiana -- State Senator Greg Walker of District 41, (R-Columbus), has officially filed a Bill
that would allow Indiana to offer its citizens a choice of Gold (and Silver) coin or the Electronic equivalent
in payable and receivable transactions with the state. This bold bill will finally bring Indiana back into
conformance with the Constitution for the United States of America which states "No state shall...make
any Thing but gold and silver Coin a Tender in Payment of Debts..." Article 1, Section 10.
The Indiana Honest Money Act will be voluntary for citizens, but mandatory for certain, specialized
businesses and will allow Indiana to fund the Treasury with enough assets insuring that no current state
funds will need to be earmarked. S.B. 453 is NOT a replacement for Federal Reserve Notes, but more of
a competing, Constitutional currency and an insurance policy for our current, tenuous "money" system.
Originally posted by ANNED
The big problem is there is not enough gold in the vaults in the US to back the deal.
Great idea as it would need the mining of a lot of new gold.
This would put a lot of my friends back to work.
Since we have only mined 1/10 0f one % of the recoverable gold in the US this would also put a lot of people back to work mining gold.
It would also raise the price of gold to more then $2000 a ounce.
Originally posted by Techsnow
Unfortunately I don't think this will work unless the whole nation follows through. With bills like these it almost seems like states are starting to seem more and more divided. Could be a good thing, maybe we need to get back ont he gold standard.
President John F.Kennedy,
The Federal Reserve
And Executive Order 11110
On June 4, 1963, a little known attempt was made to strip the Federal Reserve Bank of its power to loan money to the government at interest. On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve. Mr. Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in U.S. notes into circulation. The ramifications of this bill are enormous.
With the stroke of a pen, Mr. Kennedy was on his way to putting the Federal Reserve Bank of New York out of business. If enough of these silver certificats were to come into circulation they would have eliminated the demand for Federal Reserve notes. This is because the silver certificates are backed by silver and the Federal Reserve notes are not backed by anything. Executive Order 11110 could have prevented the national debt from reaching its current level, because it would have given the government the ability to repay its debt without going to the Federal Reserve and being charged interest in order to create the new money. Executive Order 11110 gave the U.S. the ability to create its own money backed by silver.
Originally posted by Bl0rg
This will never pass because its a part of the NWO agenda to steal everything that is worth money(gold, property) from regular folk and give then valueless crap back only by debt(our current currency)
The total amount of gold that has ever been mined has been estimated at around 142,000 tonnes. Assuming a gold price of US$1,000 per ounce, or $32,500 per kilogram, the total value of all the gold ever mined would be around $4.5 trillion. This is less than the value of circulating money in the U.S. alone, where more than $7.6 trillion is in circulation or in deposit (although international banking currently practices fractional reserves). Therefore, a return to the gold standard would result in a significant increase in the current value of gold, which may limit its use in current applications. For example, instead of using the ratio of $1,000 per ounce, the ratio can be defined as $2,000 per ounce (or $1,000 per 1/2 ounce) effectively raising the value of gold to $8 trillion. However, this is specifically a perceived disadvantage of return to the Gold standard and not the efficacy of the Gold Standard itself. Furthermore, Gold standard advocates consider this to be both acceptable and necessary.