Will Your State Reject The Fed's Digital Dollar?

12.5.22 - Will Your State Reject The Fed's Digital Dollar?

Gold last traded at $1,767 an ounce. Silver at $22.21 an ounce.

Personal and political freedoms are inseparable from economic freedom. To this end, economic freedom is contingent upon an economy that transacts using honest money that's free from coercion.

Volumes have been written on America's experience with money of varying veracity. Here we'll touch on a few key events.

Article I, Section 8, of the U.S. Constitution empowers Congress to coin money and regulate its value thereof. Article I, Section 10, specifies that no state shall make anything but gold and silver coin a tender in payments of debts.

The Federal Reserve Act of 1913, passed by the 63rd Congress and signed into law by President Woodrow Wilson on December 23, 1913, established the Federal Reserve System, the central bank of the United States. The Federal Reserve Act also delegated the right to issue money from Congress to the Federal Reserve.

In this regard, the current U.S. dollar, a Federal Reserve Note, is illegal money. It is issued by the Federal Reserve - not Congress - in direct violation of the U.S. Constitution. Moreover, when states collect tax dollars that are devoid of gold or silver coin, they violate the Constitution.

Economic freedom has been greatly undermined by Washington over the years. Executive Order 6102 of 1933, for example, forced all American citizens to turn in gold coins and bars. Gold ownership in the United States, with some small limitations, was illegal for the next 40 years.

Economic freedom was again undermined when President Nixon "temporarily" suspended the convertibility of the dollar into gold in 1971. This action removed any remaining protection workers and savers had against their hard-earned dollars being inflated away.