HB 430: Constitutional Tender Act - Franklin Sanders

This is testimony given at the Georgia House combined Financial Institutions & Services Subcommittee / Regulations & Oversight Subcommittee hearing on HB 430, the "Constitutional Tender Act". Testimony in favor of the bill was given by Rep. Bobby Franklin, Bill Greene, Aaron Krowne, Sean Mangieri, Jesse Bickel, and Franklin Sanders. Testimony in opposition to the bill was given by a state bureaucrat and two banking industry lobbyists.

HB 430 would return the State of Georgia to adherence to the U.S. Constitution's legal tender provisions. Specifically, U.S. Constitution declares that "no State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts", but Georgia HAS made some other "Thing" besides gold and silver coin a "Tender in Payment of Debts" -- some "Thing" called "Federal Reserve Notes." Therefore, this bill would require Georgia to ONLY use gold and silver coins in payments to and by the State. Federal Reserve Notes could still be used by the people of the State in personal and business transactions, if they so choose; but with the introduction of competition with REAL money, FRNs will likely soon go the way of the dodo bird.

The witnesses testified and explained to the Members of these Banks and Banking Committee subcommittees the absolute requirement of the U.S. Constitution for the State of Georgia to ONLY use gold and silver coins in its transactions, and a dialogue was begun in the best MEANS by which this should be done. The bureaucrats and banking lobbyists were concerned with cost, efficiency, and change, but it was apparent that they had not read the bill thoroughly or with an open mind, and especially had not read the FAQ on the ConstitutionalTender.com website.

These experts and Rep. Franklin explained to the Members the need to shift away from our fiat money system, and into a sound money system. The hyperinflationary end of various countries' fiat money was explained. The fallacies of fractional reserve banking was shown, and how the system robs the inherent wealth of the American citizens. The likely complete devaluation of Federal Reserve Notes, and thus the need for Georgia to protect its citizens via returning to Constitutional Tender, was also explained.

See: http://www.ConstitutionalTender.com/

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[RedShirtArmy]

It's past time to secede from this awful Empire.

[guineapig1234]

Man as a Kentuckian 5 years ago I would had never considered secession. But if the morons keep righting up more bonds and printing more magic money then its best to jump off the ship before it sinks. Even if its a smaller life raft.

[Truly1Tom]

I was amazed that what Mr Sanders was telling this panel, and the "Chairman" was rushing him towards the end. It just staggers the imagination. It was obvious that half those people didn't have a clue what he was saying to them. These are the "experts" that had to have a real bona fide expert like Franklin Sanders explain to them what the real implications facing them, should the decide not to pass HB 430. Normalcy Bias is a type of denial that people have when faced with disaster, like them.

[mydogjesus]

It's absolutely amazing that they cut off a person that was trying desperately to inform them about the most important and valuable information they will probably EVER learn about the economy... And These are the bafoons that represent us??? This is the problem... these idiots aren't scared at all- you can tell from their attitude about the time. They actually think a magical American spell of prosperity will save us all from something that is scientific certainty. What a bunch of morons.

[Raycheetah]

I have a Zimbabwe Central Bank note dated 2008 for $ZIM 100 TRILLION (that's 14 zeroes after the 1). That same year, Zimbabwe gave up its currency, and officially began using $US and the British Pound (they had already unofficially employed a gold-based black market). I also have another ZIM bank note for ONE CENT, dated 2006. In two years, hyperinflation took them from a 1 cent note being relevant, to $100 trillion being worthless. It can happen that fast. ='[.]'=

[LisaJ4Liberty]

I found that absolutely fascinating. I wish they hadn't cut him off. I wanted to hear much more.

[Lingerfoot]

Jesse Ventura and Ron Paul - 2012!

[hopelesswait]

good job

[friedenmeister]

well, please watch these as soon as you can and send them to everyone you know. we absolutely must get the word out about the monetary system.

[cmnordco]

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