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IPFS News Link • Gold and Silver

South Carolina Bills Would Cut Taxes On Gold And Silver, Support Sound Money

• https://www.zerohedge.com, Via SchiffGold.com

Passage of these bills would also set the stage to undermine the Federal Reserve's monopoly on money.

South Carolina is the first state to propose this kind of legislation for the 2021 session, but more states will likely follow suit. This is part of a broader movement at the state level to support sound money.

The Federal Reserve is the engine that drives the most powerful government in the history of the world. Ron Paul popularized the slogan "End the Fed," but Congress is nowhere near abolishing the central bank.  It can't even come up with the will to audit the Fed.

Even though state action can't end the Fed, there are steps states can take that will undermine the Federal Reserve's monopoly on money. By passing laws that encourage and incentivize the use of gold and silver in daily transactions by the general public, state action such as the passage of these bills in South Carolina has the potential to create a wide-reaching impact and set the foundation to nullify the Fed's monopoly power over the monetary system.

Rep. Stewart Jones (R-Laurens) filed all three bills.

House Bill 3377 (H3377) would make gold and silver coins legal tender in the state. Under the proposed law, "gold and silver coins minted foreign or domestic shall be legal tender in the State of South Carolina under the laws of this State. No person or other entity may compel another person or other entity to tender or accept gold or silver coin unless agreed upon by the parties."


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