Wonder what you would find if you frisked State Representative Mike Pitts (R-SC)?
Answer: He would like to ban the federal currency in South Carolina.
CBS News reports:
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.
Very interesting… Correct me if I am wrong, but isn’t it gold that never fluctuates in value? It is our fiat money that fluctuates in relation to gold, but I’m just saying…
In the end, I believe South Carolina Rep. Mike Pitts’ legislation is more symbolic than it is actual reality. It is common sense that our federal government cannot keep borrowing and spending at the current rate they are going, because it is simply unsustainable. Hopefully Rep. Pitts’ legislation will act as a slight pinch to the federal government that we are not dreaming: Economies can collapse… No matter how “powerful” they are.
Side-Note: I know it is early in the day, but I am just waiting for the liberal mainstream media to pick up this story and twist it as “just another right-wing extremist” trying to harm America. Haha.