01/07/2023 (Sat) 13:39
Under a century of Federal Reserve control, the US dollar has lost about 95 percent of its purchasing power so far. The price of gold and silver in Federal Reserve Notes, on the other hand, has risen meteorically. Gold, for example, was worth less than $20 per ounce in 1913. Today the price is over $1600. And unless something changes, that trend is expected to continue as Americans’ wealth is quietly siphoned away.
“The fiat money in use today is backed by nothing but debt,” the summary notes. “Each time money is issued, it creates more debt.” Of course, because virtually every single new dollar is issued as debt with interest, it becomes mathematically impossible to escape the debt trap. And Americans — particularly the poor and middle classes — pay the price.
There are many other reasons to support the bill, too, its backers say. “There are historical, constitutional, and economic reasons to support this choice of currency for Missouri citizens in light of our current economic environment including declining faith in the US monetary system and concern about rising inflation,” the summary explains, citing supporters of sound money. “The bill opens the door for expanded economic development by attracting capital to the state.”
As awareness about the problems with central banking and debt-based currencies continues to sweep across the nation, the sound-money movement has been gaining momentum quickly. Supporters of the Tenth Amendment to the US Constitution have played a key role in the process, working alongside economists and a broad coalition of liberty-minded organizations to build public pressure on officials.https://thenewamerican.com/missouri-sound-money-act-would-make-gold-silver-legal-tender/