The racially-divisive stunt that Senator Warren tried to pull last night – by quoting a letter from the late Coretta Scott King, civil rights activist and wife of Martin Luther King Jr., who wrote in 1986, during Sessions’ failed confirmation hearing for a federal judgeship, that he “had used the awesome power of his office to chill the free exercise of the vote by black citizens” as a U.S. attorney in Alabama – ended with her being silenced by Senate vote.
Tonight, we suspect she will choose to silence herself as more recent video of Coretta Scott King surfaces destroying her warrant-less claim was that King’s wife’s words framed Sessions as a bigot, as she thanks Senator Sessions for his help in the construction of the Rosa Parks Library and Museum…
As far as Senator Warren is concerned, even MLK’s niece lambasted her for playing the race card…
Still what would one expect, when all you have is an ‘identity politics’ hammer, every ‘problem’ is a nail.
An Arizona bill that would eliminate state capital gains taxes on gold and silver specie, and encourage its use as currency, passed an important House committee this week. Final approval of the legislation would help undermine the Federal Reserve’s monopoly on money.
Rep. Mark Finchem (R-Tucson) introduced House Bill 2014 (HB2014) on Jan. 9. The legislation would eliminate state capital gains taxes on income “derived from the exchange of one kind of legal tender for another kind of legal tender.” The bill defines legal tender as “a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.” “Specie” means coins having precious metal content.
In effect, passage of the bill would “legalize the Constitution” by treating gold and silver specie as money.
HB2014 passed the House Ways and Means Committee by a 5-0 vote, with four members abstaining.
Under current Arizona law, gold and silver are subject to capital gains tax when exchanged for Federal Reserve notes, or when used in barter transactions. If the purchasing power of the Federal Reserve note has decreased due to inflation, the metals’ nominal dollar value generally rises and that triggers a “gain.” In most cases, of course, the capital gain is purely fictional. But these “gains” are still taxed — thus unfairly punishing people using precious metals as money.
A STEP FORWARD
Passage of HB2014 would allow Arizonans to deduct the amount of any net capital gain derived from the exchange of one kind of legal tender for another kind of legal tender or specie (gold and silver coins) from their gross income on their state income tax. In other words, individuals buying gold or silver bullion, or utilizing gold and silver in a transaction, would no longer be subject to state taxes on the exchange.
Passage into law would mark an important step towards currency competition. If sound money gains a foothold in the marketplace against Federal Reserve notes, the people would be able to choose the time-tested stability of gold and silver over the central bank’s rapidly-depreciating paper currency. The freedom of choice expanded by HB2014 would allow Arizona residents to secure the purchasing power of their money.
“This isn’t going to end the fed’s monetary monopoly overnight, but it sets the foundation and opens the door for more market activity by the people,” Tenth Amendment Center executive director Michael Boldin said. “This is an important part of the overall strategy, and activists in Arizona should continue working to get both bills passed.”
Currently, all debts and taxes in Arizona must be paid with either Federal Reserve Notes (dollars), authorized as legal tender by Congress, or with coins issued by the U.S. Treasury — very few of which have gold or silver in them.
But the United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.”
The Arizona bills take a step towards that constitutional requirement, ignored for decades in every state. Such a tactic would undermine the monopoly or the Federal Reserve by introducing competition into the monetary system.
Professor William Greene is an expert on constitutional tender and said when people in multiple states actually start using gold and silver instead of Federal Reserve Notes, it would effectively nullify the Federal Reserve and end the federal government’s monopoly on money.
Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a “reverse Gresham’s Law” effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes). As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions.
Once things get to that point, Federal Reserve notes would become largely unwanted and irrelevant for ordinary people. Nullifying the Fed on a state by state level is what will get us there.
HB2014 now moves to the House Rules Committee where it must pass by a majority vote before moving forward in the legislative process.
Your report will then be sent via email analyzing 104 potential symptoms, giving you a much deeper insight into the cause-effect relationship of your body issues. It’s free and very enlightening.
Dr. Berg talks about the reasons for running your body on ketones (ketosis) versus glucose. It’s a superior fuel, produces the most weight loss, improves mood, rids cravings and hunger, improves metabolism (lower the set point) and most importantly, it fixes the insulin dysfunction.
Dr. Eric Berg DC Bio:
Dr. Berg, 51 years of age is a chiropractor who specializes in weight loss through nutritional and natural methods. His private practice is located in Alexandria, Virginia. His clients include senior officials in the U.S. government and the Justice Department, ambassadors, medical doctors, high-level executives of prominent corporations, scientists, engineers, professors, and other clients from all walks of life. He is the author of The 7 Principles of Fat Burning, published by KB Publishing in January 2011. Dr. Berg trains chiropractors, physicians and allied healthcare practitioners in his methods, and to date he has trained over 2,500 healthcare professionals. He has been an active member of the Endocrinology Society, and has worked as a past part-time adjunct professor at Howard University.