Friday, July 3, 2009

Judy Shelton Says Let's Abolish Legal Tender Laws and Go Back to the Gold Standard

The Wall Street Journal (February 11, 2009) published "Capitalism Needs a Sound-Money Foundation" by Judy Shelton, author of Money Meltdown: Restoring Order to the Global Currency System.

In the article, economist Shelton discusses "The Indiana Honest Money Act" and the broader states' rights efforts to pass legislation which would legalize the option to transact business in gold, silver, or electronic equivalent within the particular state.

Modelled after Dr. Edwin Vieira's proposed language and his "The State Electronic Gold Currency Plan, Part 1", Part 2, and Part 3, similar gold money bills for legislation have been introduced in the following states:

Colorado, "The Colorado Honest Money Act"
Georgia, "Constitutional Tender Act"
Missouri, "Electronic Gold Currency"
Montana, "Montana Sound Money Act"
New Hampshire, "Gold and Silver Coin and Electronic Currency"
Ohio, "Ohio Honest Money Act"

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