House Bill Allows State to Conduct Business in Gold

By Beacon Staff

David Hart, former Montana state coordinator for presidential candidate Ron Paul, sent out an e-mail Tuesday urging support for House Bill 639, which would allow the state of Montana to “conduct various financial transactions in gold.”

The bill, introduced by Rep. Bob Wagner, R-Harrison, may face a committee vote this week, according to Hart. WorldNetDaily.com, a popular conservative Web site, published a story on the legislation, under the headline: “State considers return to gold, silver dollars.” An excerpt:

Critics of the current financial system argue that using Federal Reserve notes as legal tender, rather than gold- or silver-backed currency, means the value of Americans’ money – and thus their “property” – is siphoned away by inflation, a process perpetuated by the government’s reliance on legal tender. Gold and silver, critics say, don’t lose their value on the whims of the Federal Reserve.

U.S. Rep. Ron Paul, R-Texas, even favors abolishing the Fed’s system of fiat currency to return to dollars backed by gold.

“Throughout its nearly 100-year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar,” the Texas Republican said. “Since 1913 the dollar has lost over 95 percent of its purchasing power, aided and abetted by the Federal Reserve’s loose monetary policy.

Read the entire story here.