Comment by Alchemist

Entered on: 3/12/2013 5:04:21 AM

 

Are you at all concerned with the language of 1-703 B? It seems to indicate that they expect you to pay sale tax and other transaction taxes in "Legal Tender". Is there any law currently that forbids the use of silver and gold in exchanges? Is there tax law addressing that now? I don't know, I am asking. Is this bill really necessary? If not forbidden, just do it. If I give you a dollars worth of silver dimes for your $20 or so item, well I just gave you a dollar, not $20. This bill would seem to require you to consider the sale in "Legal Tender" and pay taxes in legal tender. It's there to assure the sales tax revenue, not permit exchanges in gold and silver, which are probably not forbidden. Unless you are in the camp of "that which is not legally required is FORBIDDEN! Just asking.

Comment by PureTrust

Entered on: 3/12/2013 8:04:29 PM

U.S. Constitution, Article 1, Section 1, Clause 1:

"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."

Did you notice that the part about coining money is not directly linked to the part about gold and silver coin as tender? Legal tender and money are not necessarily the same thing. Time for Arizona to do the same thing that the Federal Government did with the Federal reserve bank... contract the job of making gold and silver legal tender coins out to Von Hothaus and his organization, but don't use the resulting coins as money. Print paper for that.

The founding fathers would want something like this. They knew the mess a central banking system would get us into. So, they left the States a way out.