Constitutional Currency Petition
Sign the Petition: To Eliminate the U.S. Digital Programmable Currency Risk and Protect Yourself from US Inflation!
Background: Your money’s purchasing power continues to erode. Inflation is resurgent. And, bureaucrats who have long wished to control you and to fine-tune the economy by telling you how, when, and where you can spend your own money are ready to act, further limiting your PERSONAL LIBERTY.
Programmable Digital Currency (much like China establishing the Digital Yuan and Social Credit Scores) enables Government officials to control how and where your money can be spent. This is a direct threat to your Liberty!
The WSJ reports the U.S. Federal Reserve has already researched how to build and test the digital dollar, implementing their version of programmable money in America.
The upcoming Programmable Money effort may be the biggest threat yet to your Liberty. Fortunately, there is a potential real currency solution if we work together starting now! This is a GAME CHANGER and must be explored!
THE IDEA: It is time to support Article 1, Section 10 of the Constitution that requires States to only make gold and silver coins as “legal tender” (States cannot print fiat money like the Federal Government can and does). Previously, using gold and silver coins as an alternative popular currency has long been viewed as desirable but clearly impractical. With existing new technology, however, gold and silver now can be made powerfully functional.
Here’s how the plan works:
-While the Federal Government and Federal Reserve are essentially printing money like crazy, your paper-dollar “fiat” money is losing purchasing power. Inflation wants to rob your retirement and your children’s future.
-Instead, with this initiative, you could deposit your money which would then be held as gold or silver in the already existing Texas Bullion Depository backed by the State of Texas. Think of this as your new bank account. And any State can follow suit!
-This becomes a real asset, and as such, a hedge against inflation for every citizen, not just the rich! Gold and silver have tended to hold their value over time better than paper money.
-Texas would create digital coins (using technology like bitcoin) tied to deposits. Other states can follow suit or join the Texas effort.
-The technology infrastructure already exists as evidenced by cryptocurrency, debit accounts, and services such as PayPal, Square, Zelle, and Venmo.
-Under our plan, there would be no privacy violations allowed. This plan would require similar privacy protections and guarantees to those that function on the Blockchain. The sponsoring State would, by law, be forbidden from monitoring transactions without Court Order.
-You would spend your “coins” at any merchant like you would with a check or debit card.
-Instead of shaving off ounces of gold from a gold brick to purchase an item, your gold-backed State Currency makes transactions on a digital card easy, scalable, and hopefully inflation-proof.
-The value of the gold could be translated back into Federal Reserve notes (U.S. dollars) for the recipient if they preferred (or they could hold the gold).
-This would help to keep the Federal Reserve accountable. This would become the standard the Federal Reserve would have to beat with a Digital Dollar. Competition helps keep people honest! [Think FedEx and the USPS.]
-This would be superior to Federal Reserve notes that are not backed by assets and are not explicitly discussed in the U.S. Constitution. And it would set a privacy standard!
-This would be superior (as a means of exchange) to holding Gold or Silver because it would be easily divisible. You could spend 0.001 ounces of gold (roughly $1.80 at a recent gold valuation) to buy a cup of coffee, for example.
-It would be superior (as a means of exchange) to other cryptocurrencies because it should not be taxable with every transaction when prices fluctuate. How could the IRS claim the ability to tax Constitutionally allowed currency issued by a sovereign state?
-Obviously, there will be challenges to overcome. But wouldn’t having a sound Constitutional monetary alternative (in addition to the existing Federal Reserve structure) be worth fighting for?
This petition is for Texas or any State to explore this Constitutionally approved, liberty-minded currency alternative. Signing it simply means that you would love to see this idea explored and if possible implemented.
-It allows for States to be able to exercise their Constitutional rights to make gold and silver coins legal tender, not be taxed by the Feds.
-We ask the Supreme Court to accept the clear language of the Constitution. This is literally more Constitutional than the Federal Reserve notes currently in use.
-We support the next Texas legislature and any other state that is interested to preserve our Liberty and protect our future with the issuance of gold-backed digital coins tied to deposits.