S. Carolina legislator introduces bill to ban dollars and establish bimetallism

[jimmy olsen]

WTF? How can people this retarded get elected, even in S. Carolina?

http://www.cbsnews.com/blogs/2010/02/17/politics/politicalhotsheet/entry6217403.shtml

February 17, 2010 4:34 PM
South Carolina Lawmaker Seeks to Ban Federal Currency

Posted by Brian Montopoli 

South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.

As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.

In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."

"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."

The lawmaker believes that a shift to an economy based on gold and silver coins would give the state a "base of currency" should that collapse come. As one expert told the Scoop, however, his bill would likely be ruled unconstitutional because it "violates a perfectly legal and Constitutional federal law, enacted pursuant to the Commerce Clause of the U.S. Constitution, that federal reserve notes are legal tender for all debts public and private."

In addition, since gold and silver regularly fluctuate in value, they could not easily function as stable currency.

But Pitts maintains that his state is better off with something he can hold in his hand and barter with as opposed to federal currency, which he described to the Scoop as "paper with ink on it." He says he resents what he considers the federal government's intrusions on states' rights.

Though he did not offer a timeframe, Pitts told Hotsheet that he anticipates a nationwide economic collapse "if our federal government continues the course it's been traveling under the previous administration and this administration."

[Alatriste]

"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "

Oh, yes, the Germans felt their system could collapse, there was a little World War going on, and after that somewhat of a Revolution and a Civil War. And he has missed the correct date by some 10 years 

But Pitts maintains that his state is better off with something he can hold in his hand and barter with as opposed to federal currency, which he described to the Scoop as "paper with ink on it."

Paper with ink on it? Hey, just like the Constitution and the Bible!

He says he resents what he considers the federal government's intrusions on states' rights.

Great, just great. He should change his name to State Rights Pitts and call for a Convention to secede from the United States. Again.

[dps]

Constitutionally, there is nothing that keeps individual states from minting and/or printing their own money.  Historically, many states did print their own currencies up to the mid-19th century, when Congress levied a hefty tax on money printed by states (and I do mean "printed";  I think the tax only applies to printed bills, not coins).  So South Carolina would be allowed to mint their own coins if they wanted to.   But banning US currency is an entirely different matter.

[Savonarola]

Will South Carolina: crucify mankind upon a cross of gold?

[Queequeg]

Afraid we gave the South their statehood and citizenship back a good 200 years early.   

[PDH]

I foresee a wonderful and nutty era of teabaggery.

[Ed Anger]

I foresee a wonderful and nutty era of teabaggery.

As long as it annoys Spellus so much, more power to 'em.

[KRonn]

Maybe instead S. Carolina still could use some Confederate money, if they have any still left around somewhere? 

Anyhow, is this so odd? It sounds odd, but if states do have the legal ability to mint money, and given the rising value of gold, silver and other metals, and worries about the dollar losing value, maybe it's not such a bad idea? With the rising investments into gold I guess I'm mot surprised someone is thinking about this kind of thing, though I can't say I'd endorse it.

[PDH]

I foresee a wonderful and nutty era of teabaggery.

As long as it annoys Spellus so much, more power to 'em.

It will get fun when the state militias start fighting one another.

[Ed Anger]

I foresee a wonderful and nutty era of teabaggery.

As long as it annoys Spellus so much, more power to 'em.

It will get fun when the state militias start fighting one another.

We can beat Michigan again. Mew.

[Savonarola]

We can beat Michigan again. Mew.

You can keep Toledo; but the next time there's a protest at the University of Michigan we can use your state militia to keep order?  They do a better job than the Michigan National Guard.

[DontSayBanana]

Constitutionally, there is nothing that keeps individual states from minting and/or printing their own money.  Historically, many states did print their own currencies up to the mid-19th century, when Congress levied a hefty tax on money printed by states (and I do mean "printed";  I think the tax only applies to printed bills, not coins).  So South Carolina would be allowed to mint their own coins if they wanted to.   But banning US currency is an entirely different matter.

Actually, it was mentioned back in 2008 when the news covered that Connecticut town that started printing their own local currency, that it's legal to print paper money, as long as it doesn't too closely resemble any of the dollar bills; coins are the ones that are verbot.

Oh, and if Congress says the states can't value their own money, they can't.  Supremacy clause: if it's not listed in the constitution, federal rules have top priority.

[Zanza]

The Germans that actively conducted the hyperinflation probably had a decent idea what it would do to the system. It's not like hyperinflation just develops out of nowhere. And it didn't really collapse the system either. The Weimar Republic was a capitalist society before and after the hyperinflation.

[Ed Anger]

We can beat Michigan again. Mew.

You can keep Toledo; but the next time there's a protest at the University of Michigan we can use your state militia to keep order?  They do a better job than the Michigan National Guard.

We keep Packo's and the ONG become mercs? GOOD DEAL.

[Faeelin]

The Germans that actively conducted the hyperinflation probably had a decent idea what it would do to the system. It's not like hyperinflation just develops out of nowhere. And it didn't really collapse the system either. The Weimar Republic was a capitalist society before and after the hyperinflation.

Oh, yes. The hope was to make Germany look too poor to pay reparations.