Main | Wednesday, February 17, 2010

SC State Rep. Mike Pitts: Abolish Federal Currency, Replace It Gold & Silver Coins

South Carolina state Rep. Mike Pitts (R) has filed a bill to ban the use of federal currency in his state and replace it with silver and gold coins.
Pitts, a fourth-term Republican from Laurens, introduced legislation earlier this month that would ban what he calls “the unconstitutional substitution of Federal Reserve Notes for silver and gold coin” in South Carolina. If the bill were to become law, South Carolina would no longer accept or use anything other than silver and gold coins as a form of payment for any debt, meaning paper money would be out in the Palmetto State. Pitts said the intent of the bill is to give South Carolina the ability to “function through gold and silver coinage” and give the state a “base of currency” in the event of a complete implosion of the U.S. economic system. “I’m not one to cry ‘chicken little,’ but if our federal government keeps spending at the rate we’re spending I don’t see any other outcome than the collapse of the economic system,” Pitts said. But one legal expert told The Palmetto Scoop that, even if it were passed, Pitts’ bill would quickly be ruled unconstitutional.
Pitts fails to understand that the value of gold and silver fluctuates by the hour, meaning that prices would have to do likewise. But Pitts is a Tenther and doesn't want the federal government usurping his state's right to go completely crazy. Ah, South Carolina, the blogger's friend.

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