Thread: SC Lawmaker Proposes Ban on Federal Currency

SC Lawmaker Proposes Ban on Federal Currency

Thursday, 18 Feb 2010 09:07 AM
By: Greg Brown

A South Carolina politician wants his constituents to stop using dollars — and for the people in his state to rely on gold and silver coins instead.

Rep. Mike Pitts, a state representative and Republican, has introduced legislation that would make paper money illegal in the state.

“I’m not one to cry ‘chicken little,’ but if our federal government keeps spending at the rate we’re spending I don’t see any other outcome than the collapse of the economic system,â€

As things get worse, this will start to happen in every state. But to call our present surrency "greenbacks" is a bit of a stretch. The term greenbacks refers to the "Treasury Notes" that Abraham Lincoln issued during the unCivil War. They were issued by the Treasury and were interest free. Not "borrowed" from a privately owned "Central Bank" that charges the government interest for what it "borrows" from the bank.

As even Thomas Edison understood the difference, one fattens the "usurer", the other benefits the "people". But the main problem with any paper currency, is that it can not surpass the GNP and there is always the fear that it will be abused and too much will be put in circulation. This is what the Founding Fathers were afraid of, and made certain that paper money was not to be used. George Washington said it best when he said, "...........a wagonload of Continentals would scarcely purchase a wagonload of supplies................"

The criminal element o it is, that the government, and the people have to supply something of real value, for a currency that has no real value, other than that which is thought up out of thin air.