Arizona State Passes Bill to End the Feds Monopoly on Money
Thomas Jefferson warned us that “paper money is liable to be abused, has been, is, and forever will be abused, in every country in which it is permitted.” I couldn't agree more and pray each and every day for the end of the fed and the jailing of the ones behind the scam.
The state of Arizona (the senate) voted 16 to 13 for the removal of the taxation on all income of precious metals and was headed by Governor Doug Ducey, who is signing this bill into law. Mark Finchem (R-Tucson) introduced the House Bill 2014 so that Arizona taxpayers could back out of gains and loses of all precious metals that would otherwise have to be reported on their Federal tax returns calculated from their (AGI) Arizona Adjusted Gross Income.
If for example, taxpayers own gold for the protection against the United States of America's devaluation of the petro-dollar they will then usually end up with a "gain" when they want to exchange precious metals back into petro-dollars. Yet, this is not always considered a "real gain" towards purchasing power per say. Therefore, the said "gain" is then said to be a "nominal gain" because of the slow and steady devaluing of the petro-dollar. On the otherhand, the government will nonetheless assess a tax.
According to Ron Paul, who in turn helped secure the passage of HB 2014 states that this is a win for the country, at least Arizona and JP Cortez, an alumnus of Mises University says this bill “begins to dismantle the Federal Reserve’s monopoly on money.” Ron Paul also states the “HB 2014 is a very important and timely piece of legislation. The Federal Reserve’s failure to reignite the economy with record-low interest rates since the last crash is a sign that we may soon see the dollar’s collapse. It is therefore imperative that the law protect people’s right to use alternatives to what may soon be virtually worthless Federal Reserve Notes.”
Furthermore, he says “we ought not to tax money, and that’s a good idea. It makes no sense to tax money,” Paul told the state senators. “Paper is not money, it’s a substitute for money and it’s fraud,” he added, referring to the fractional-reserve banking practiced by the Federal Reserve and other central banks. I couldn't agree more!
After the victorious win upon the tally of the votes to pass the bill on to the full body of the Senate, there was a rally that was headed by Dr. Paul. The rally was held on the grounds of the state legislature and was to congratulate all supporters of the measure and the sound of money.
Now the best news of all is that there are 20 other states that will be following suit with Arizona's bill. However, some state legislatures, including Utah and Idaho, have taken steps toward eliminating income taxation on the monetary metals. Other states are rolling back sales taxes on gold and silver or setting up precious metals depositories to help citizens save and transact in gold and silver bullion.
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Great catch!
There are lots of pressures to push aside the Federal Reserve cartel and their wholesale wealth destruction and consolidation. It's doubtful we'll see similar measures on the federal level anytime soon though.
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Yes I am completely against the Fed cartel, its a shame what they have and continue to do to us, Thank you for sharing and I will definitely continue to expose those twats lol
Most people think it's a federal agency : (
I know right? The worst thing about that is that when you tell people what it actually is they act like its not a big deal!
Fiat currency always reverts to its intrinsic value of zero. Always has, always will. It's inevitable. It's been nearly 1000 years (1024 AD in China) since the first use of fiat currency and the debt pyramid has gone on and on without people learning from the mistakes of history. From the dangers of central planning. This will soon come to an end if we educate enough people and get enough people to decentralize.
Nice!! That is what I am hoping!! Thank you for your comment, very much appreciated my friend, always!