Quote from the SC decision:
“The United States maintains a dual system of banking, made up of parallel federal and state banking systems. That dual system allows privately owned banks to choose whether to obtain a charter from the Federal Government or from a state government.”
There has been a recent development regarding state-sponsored banks and their ability to issue gold and silver-backed currencies. Let’s explore this further:
Supreme Court Ruling:
The Supreme Court upheld the state’s right to maintain its own charter and allow state banks to issue gold-backed currency, bypassing the Federal Reserve’s corporate system1.
This ruling was released on May 30, 2024, and marks a significant step toward decentralization in the banking sector.
Dual Banking System:
Each state in the USA operates its own banking system, parallel to the Federal Reserve.
State-sponsored banks now have the option to acquire gold reserves and disband from the Federal Reserve system.
This effectively establishes a dual banking system where state banks can operate independently of the corporate Fed system.
Implications:
States that choose to issue gold and silver-backed currencies can potentially reduce their reliance on the Federal Reserve.
It also opens the door for alternative forms of currency within individual states. Other States:
South Carolina, for example, has taken steps toward recognizing gold and silver as legal tender23.
Louisiana, Utah, and Texas have also passed legislation recognizing gold and silver as legal tender.
This development reflects a growing interest in alternative monetary systems and highlights the ongoing debate over the role of central banks and state autonomy.
Gut feeling tells me California is not going to comply.
Let the best system Win. As the country was originally designed.
Think 10 states (for now) is enough to keep the Private "Cental Bank" alive when those ten will own the 34 trillion in Debt that no one else will take?
From your mouth. DeSantis needs to quit worrying about Marijuana and pass a state banking bill with gold and silver as a part of it. He's in hemps back pocket so he waste time fighting this stupidity and the majority want legalization. I just want people free, that's the only horse I have in the race.
Without Free the rest is only waiting to be denied.
Neither will Illinois!
WHICH 40 states? I've seen nothing in the linked document or the docs THEY link to that lists them. And why not the others? Or can any state do this if they pass legislation to do so -- as I assume.
Any state can.
Well, I am not that smart about this stuff. I am curious to know what you all think about the future value of an ounce of gold or silver in light of this news?
Gold and silver will be the Dollar again, as in pre-1933. Average price of a home in 1925: $6,500. $20 gold piece = $20. $6,500 / $20 = 325 gold coins (approx. .9675 oz. gold per coin). ___ 1 silver back then (Morgan silver dollar = .7734 oz. silver per coin). 6,500 silver coins for average home. ____ Down payment: 25 gold coins or 500 silver coins.____ Average earnings for a family about $3,000. ____ Median home price today = $420, 800 / 325 gold 1 ounce coins = $1,294 equivalent gold price, yet gold is at $2,300 today. ____ So a house at $420,800 /$2,300 per gold coin = only 182.9 gold coins! So gold has increased its value compared to an average value per house from 1924/25 to 2024. ___ I might have miscalculated, something does not seem right! Or do we expect deflation, housing values to drop 40%?
From your finger tips to God's ....wait he could care less and 90% has happened in the past.
not sure why someone gave you a -1, but I’ll add a +1 because it’s true that prices have dropped in the past, and true that homes have more features, a lot more wiring (“long wire” 10 years ago for putting cable in every room), wifi, extra garages, swimming pools, tennis courts, insulation (China drywall for Florida, that’s a negative though).
Religious folks can be a bit sensitive , but thank you. They think God cares about the value of their house🙄
They say price of gold and silver will be re-evaluated to reflect what the real purchasing power is.. there will be no more inflated money backed by nothing, just printing out of thin air by federal reserve.
Personally, I think silver has the best chance of going vertical . I have been collecting bars, silver rounds, and 925 - sterling since about 2010.
I remember hitting this rabbit hole biggg time during rona' era, when all the gamestop shit went down. Yes, currency no longer being backed by gold with fed going brrrrr, gold is not properly valued. But SILVER is what the rabbit hole was about. Q said gold would be back and fed reserve would die. But silver was the interesting bit. Once everyone woke up on stocks during the GME situation, men much smarter than me realized silver was actually being shorted even more than that. I know threads were posted on here then regarding it. Me finding and linking is mission impossible in my unreliable archives. But whoever is interested in the silver short, search up those keywords here and it has to pop up, great threads were made, I remember for a fact I archived them in my millions of saved folders on this site.
Silver: $420,800 / $26 per silver ounce (just an average for 2024) =16,184 silver coins to buy an average house, compared to only 6,500 silver coins in 1925. Silver could increase in comparison to house prices, or housing could drop in value, deflation, compared to silver. Silver could go to $64.73 per coin to be at the equivalent purchasing power in relation to a home price in 1925, where 6,500 silver hopefully in the future x $64.73 = approx. $420,800.____Other thoughts are that everything is so inflated and silver could become in short supply for industry that silver could go to $600 per ounce and even $1,200 to &1,600 per ounce. ____ (34 minute laid back interview with David Morgan of the Morgan Report: https://www.youtube.com/watch?v=Ajr4E5Q-UYA ____ be careful with the volume though, caution: volume goes from loud to soft between the host on the left (Loud) to quiet (guest David Morgan on the right)
Prices are 98 perce t inflated as the dollar is worth only 2 cents. When a buck is a buck again you will deflate prices ny 98 percent. Gold and silver won't be valued in fiat. So if u use fiat it will be 480k, if you use gold it will be $9600.00 dollars to purchase. If gold is 2400 that's about 8 oz of gold.
Modern Homes larger and have many more whistles & bells , makes accurate calculation sloppy at best. But thank you for the estimates.
Way more than a digital or paper FR Note ( promise)
This is a golden opportunity!
Ha!
This seems like a really big deal.
Utah Gold backs They are beautiful and gold vapor disposition on Mylar. Works of art, intrinsically valuable based on the weight of gold built into each bill.
Could a state like Texas operate outside the fed gov and trade and do business with say Mexico?
Everyone accepts gold. We've been working on it for a long time in Texas. We already built a major gold/silver depository and passed legislation to allow us to print our own gold/silver backed currency. We're all set and it would be one of the most trusted currencies on the planet.
they already have a trade agreement with the UK
You mean like the Billion Dollars Newscum paid BYD , the Chyna EV maker, for masks ?
As one poster stated about California not being a "comply" state, I be my state, MD, will also not comply. We, in MD, are in terrible shape with taxes and the Left politicians elected (or they cheated their way in, but no one questions the elections).
F*ck this. Where did they get all this crap? Constitution defines silver as legal tender, period.
Are you sure ?
Article I, Section 10, Clause 1:
"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility".
Okay, correction, Silver and Gold, if thats what you are getting at.
Well i for one have shifted to gold and silver banking. I use the fiat only when necessary and when my state issued currencies comes out I'll never touch a fed note again. Now pass legislation requiring the federal government to pay our military pensions in the currency of our choice so I won't have to keep converting it as soon as I get it.
This SCOTUS ruling doesn’t say anything like what the article says. It’s here if you want to see what it does say: https://www.supremecourt.gov/opinions/23pdf/22-529_1b7d.pdf
TL;DR: New York State law requires that banks must pay interest on home mortgage escrow accounts. Second circuit ruled that this law conflicted with federal laws for nationally chartered banks. SCOTUS ruled that the second circuit didn’t do the analysis of the conflict properly and sent it back to the second circuit.
this will replicate German miracle before ww2
We already have sound, lawful, and legal tender gold and silver money. Our founding fathers established it, and modern government suppresses it to control us. We do not need all these new laws, just start using the existing laws and get government out of the way.
These are already right in front of us, but are treated as commodities by government, instead of as what they really are. Sound money:
Silver 1 Dollar
Gold 5 Dollars
Gold 10 Dollars
Gold 25 Dollars
Gold 50 Dollars
This one has also been minted at the U.S. Mint, and would only need Congress to pass it to be as lawful, legal, and sound as the gold:
Platinum 100 Dollar
They have some in Palladium, as well, but I did not include them as they are redundant. As far as coins with under a dollar value, Congress can authorize the mint to make half dollar, quarter dollar, and any other denomination needed to make purchases exchanges easier.
In the end, we do not need to reinvent the wheel or fix what isn't broken when it comes to sound, legal, and lawful tender. Our founding fathers were genius enough on that front.
$25 for a 1/2 oz of gold?
Not 25 FRN's, no. The purchasing power of a real dollar vs and FRN is a different as an FRN from a Peso.
Article 1 Section 10 of the constitution disagrees with this analysis of yours, dawg
explizane
When you read the opinion, did you see anything in it that actually agreed with the idea that states could have their own currency?
Which page do the words "silver" or "gold" appear in the opinion?
Gold and silverbugs are torturing the fuck out of this opinion to make it fit their narrative, which has no basis in reality.
At this point we should be trying to squeeze open any loophole to make this happen
It's not a loophole. The source for the analysis is literally a silver salesman. It doesn't cite anything in the opinion itself to suggest any sort of override to Article 1 S 10 of the Constitution.
guess we'll find out eh
bruh
Aren't you going to at least TRY to read the opinion and find something in there that supports what you posted?
no because this isn't my wheelhouse and I was just cross-posting it off 8kun
edit- also, if you think it's such an off take, why not make another post refuting it? link back to this post
If true, this is the most important story of 2024, imo...
If it sounds too good to be true...
I'm thinking he only thing that's going to have value when SHTF is gonna be food. Can't live on gold and silver. Learn what you can eat now
What's old is new again? The 13 colonies each had their own money and currency...
A bill allowing gold and silver failed in the Indiana legislature in 2014.