Indiana State Senator Files Gold Money Bill

[The Straight Story]

Indiana State Senator Files Gold Money Bill
Senate Bill 453, The Indiana Honest Money Act
Indiana Picks Up Where New Hampshire Left Off !


Indianapolis, Indiana -- State Senator Greg Walker of District 41, (R-Columbus), has officially filed a Bill
that would allow Indiana to offer its citizens a choice of Gold (and Silver) coin or the Electronic equivalent
in payable and receivable transactions with the state. This bold bill will finally bring Indiana back into
conformance with the Constitution for the United States of America which states "No state shall...make
any Thing but gold and silver Coin a Tender in Payment of Debts..." Article 1, Section 10.


The Indiana Honest Money Act will be voluntary for citizens, but mandatory for certain, specialized
businesses and will allow Indiana to fund the Treasury with enough assets insuring that no current state
funds will need to be earmarked. S.B. 453 is NOT a replacement for Federal Reserve Notes, but more of
a competing, Constitutional currency and an insurance policy for our current, tenuous "money" system.


Indiana is picking up where New Hampshire left off in their attempt to get essentially the same Bill
passed back in 2003 and 2005. The Bill was written by eminently qualified Constitutional Money Scholar
and practicing Constitutional Lawyer, Dr. Edwin Vieira of Virginia. Jerry Titus of Kokomo, a Senior Field
Service Engineer, worked to take New Hampshire's Constitutionally compliant wording of Dr. Vieira's Bill,
and adapted it for Indiana's unique purposes.


This exciting juncture is only the beginning of S.B. 453 as it needs to be approved by the Tax and Fiscal
Committee for House consideration, etc., and will probably be subject to debate and possible
amendments. There will be about 700 Bills under consideration in the current Legislature and only about
200 will survive to be voted on.

http://www.indianahonestmoney.com/
Here is the official wording for S.B. 453:
http://www.in.gov/apps/lsa/session/billwatch/billinfo?year=2009&session=1&request=getBill&docno=453

[Greyhound]

1. I read a paper a few years ago showing that, if we monetized gold,

the price would be ~$21,000 p/oz. That was at least two years ago.

There just isn't enough gold to do it.

[TWiley]

2. There are far worse economic disasters than what we are experiencing now

It is more difficult to control inflation and the money supply if on the gold standard.

In Dante's day, an ounce of gold would buy a mans suit of a certain quality. Today, an ounce of gold will buy a suit of equal quality. Today's suit only seems more expensive because more dollars are involved.

Now, if the government (beyond Indiana) went back to the gold standard, there would not be enough gold to satisfy world dollar debt. This would drive the value of gold up higher, and the value of whatever dollars remained lower.

Now, it takes more gold AND / OR more dollars to buy a suit of equal quality.

Misery compounded. The republican ideal.

[zbdent]

3. real way to f*ck up the economy ...

insist on everybody paying for everything in cash ...

[ThomWV]

4. This is the stupidest fucking idea imaginable - for all you Gold Standard nuts please read this

Let me explain to you why a gold standard does not work. First see if we agree on two facts that set the stage for your new understanding. The first is that over time the population goes up. If you believe we moved 'out of Africa' or if you believe we are the children of Adam and Eve, either way or any other way, once there were fewer of us and now there are more. Agreed? Next premise, gold is a non-renewable element on our planet. As far as we know all the gold there ever was or ever will be, with the exception of minor amounts arriving by meteor or comet, are here right now and just like oil, the more we take out of the ground the less there is left in the ground.

If you accept those statements as fact it should come to you pretty quickly that if you use gold as your base for money that over time more people will have less money - that we constantly become poorer or that the value of gold constantly goes up as less and less of it becomes available to pay for goods and services rendered - that the value of everyone's efforts continuously degrades if gold is the standard of exchange. The next problem is that a gold standard represents the ultimate example of Ronald Reagan's 'trickle down' theory of economics. With a Gold Standard it is the man who owns the gold mine who has all the money and will distribute it as he sees fit, if some trickles down to you, then good for you, if not, well then not so good for you. And finally, and this one is for the big brains among you, when you think about it under a gold standard interest can not be charged on loans at a rate faster than new gold is introduced into the system, which once again brings us back to the gold-mine-owner, who becomes the only person in society who can act as a lender. Implicitly that means that any value added, created by the effort of all non-gold-mine-owners, ultimately accrues to the gold-mine-owner. One very rich man receiving the benefits of all the work of everyone else. That is where a gold standard ultimately leads.

[JitterbugPerfume]

6. Thanks ThomWV

that explains it so that even I can understand it, and ecomomics is one big mystery to me!

[Eric Condon]

5. http://cashforgold.ytmnd.com

http://cashforgold.ytmnd.com