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South Carolina thinks federal currency is dead

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South Carolinian state representative Mike Pitts has introduced legislation that requires gold and silver coins to replace shaky federal currency as legal tender in his state. His reasoning is simple, “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.”

It’s happened before. Think 1930s Germany or the 1980’s Soviet Union. Pitts wanders by what stretch of the imagination we should consider ourselves so special that the same fate cannot befall us?

Pitts further claims that the policy of substituting paper currency for silver and gold is unconstitutional. Some legal experts believe his bill would itself be ruled unconstitutional because of a federal law enacted pursuant to the Commerce Clause of the U.S. Constitution that makes paper currency “legal tender for all debts public and private.”

Naysayers also point to fluctuations in the value of gold and silver as an unstable base for currency.

Regardless of the legality of returning to a gold standard, Pitts’s theory of an imminent collapse in our economic system should be given credence.

The Holistic Survival Team