Ron Paul Bill Seeks Coin and Bullion Tax Ban

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Coin Legislation on Capital BuildingCongressman Ron Paul [R-TX] on Wednesday introduced legislation that would, if signed into law, end taxes on coins and bullion and repeal legal tender laws. The bill’s lofty goal is to reintroduce a system of competing currencies.


"At this country’s founding, there was no government controlled national currency. While the Constitution established the Congressional power of minting coins, it was not until 1792 that the US Mint was formally established," Rep. Ron Paul said. 

"In the meantime, Americans made do with foreign silver and gold coins. Even after the Mint’s operations got underway, foreign coins continued to circulate within the United States, and did so for several decades. 


H.R. 4248, or the [1] Free Competition in Currency Act of 2009, includes several measures to end government controlled currency. One is to repeal Section 5103 of Title 31 of the United States Code which includes legal tender language that, according to Ron Paul, should not exist.


"There is nothing in the Constitution that grants the Congress the power to enact legal tender laws. We, the Congress, have the power to coin money, regulate the value thereof, and of foreign coin, but not to declare a legal tender. Yet, there is a section of US Code, 31 USC 5103, that purports to establish US coins and currency, including Federal Reserve notes, as legal tender."

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Comments

Posted by Concerned Citizen on Report SPAM
This is a good idea. The government has no constitutional authority to issue anything other than gold and silver and like anything else where these is a monopoly, the public gets the short end of the stick.
Posted by Anonymous on Report SPAM
This is striking at root of the big problem of our times. We, the people, must unite to defend our Costitution and reverse the downfall of our country. This is excellent starting point. and when this legislation will be signed into law, other good things will follow....
Posted by Anonymous on Report SPAM
The banksters will never let this happen, As I and many others agree with Mr Paul, the elite have made it there goal to drive us to extinction. This said there has never been a time that we need to band together as North Americans as now. We are being slowly taken over before Bush/Harper but now since 2000 Bush put it in high speed, and Harper in Canada is there criminal thats doing his part to finish us along with Obama. People, please do your pat to wake up the masses before its to late. Everytime you see a good video on youtube or anywhere please email the link to all your contacts. Ask them to pass it on. We have the tools to do this ,it only takes a few mins to do, please do it. Thank-you and good luck, below is a link that all should read. http://dprogram.net/2010/01/25/could-vancouver-2010-could-be-the-next-911/
Posted by Anonymous on Report SPAM
Are we forgetting that Congress forfeited their power to "coin money [and] regulate the value thereof"? Take a look: it's called the Federal Reserve Act, and it should have been unconstitutional. But, gee, somehow that got rammed through along with the income tax in 1913. Nice try, Ronnie, but the horse has left the barn along time ago. Feel free, though, to close the door now.
Posted by Anonymous on Report SPAM
Ron Paul is an idiot. Anyone who knows the constitution will tell you that it clearly give congress the ability to do what ever it deems “reasonable and necessary.” This included printing money. Wake up Ron Paul is an idiot. If he ran this country everything would fall apart. You would be eating from bread lines in the street handed out to you by Wall mart. He would deregulate all the laws and protection that have been put in place in the last 100 years, including protecting the environment. Do you know anyone on social security? Well he would get rid of that also, so much for grama, I guess you will have to pay all here bills now or she will die. Ow I’m sorry; maybe the magic free market will take care of it. Wake up Ron Paul is blind.
Posted by Anonymous on Report SPAM
Actually- Ron Paul is NOT an idiot. He is correct in trying to repeal the Fed Res act, and is maybe the only congressman (or at least the only that was not bought and paid for by banking lobbyists) that sees the way the banks have RUINED society...or are at least trying to do so. The banks own (for lack of a better term) Africa and the "3rd World Countries" in Central & South America. They are trying to impose their will on us here in the US in an attempt to abolish the middle class. WAKE UP ALL!! We MUST unite if things are to change for the better.
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