The United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” As the Tenth Amendment Center pointed out, currently, all debts and taxes in most states are paid with Federal Reserve Notes (dollars), which were authorized as legal tender by Congress, or with coins issued by the U.S. Treasury – very few of which have gold or silver in them.
In his 2023 book “Pirate Money: Discovering the Founders’ Hidden Plan for Economic Justice and Defeating the Great Reset” our friend Kevin D. Freeman (host of Economic War Room) argued that the way to rectify the injustice of this disastrous system is for states to use their Article I, Section 10 constitutional power to make gold and silver legal tender.
Editor’s note: The term “Pirate money” is a humorous take on the pirates’ quest for gold doubloons and silver “pieces of eight.”
Now, Mr. Freeman’s book and subsequent campaigns in state legislatures have begun to bear fruit. The States of Arkansas, Missouri, Utah and now Florida have passed legislation allowing for the creation of state-authorized gold and silver legal tender systems, Texas, Louisianna and several other states still have enabling bills under consideration in their legislatures.
Under Florida House Bill 999 (H999), sponsored by Rep. Doug Bankson and Rep. Monique Miller, “gold coin and silver coin” would be recognized as legal tender in the state for the “payment of a debt.” The bill includes an expansive definition of “coin” to include a “round, bar, ingot, or bullion coin, which is valued for its metal content and is stamped or imprinted with its weight and which consists of at least 99.5 percent purity.”
State agencies and political subdivisions would be authorized to accept gold or silver for the payment of taxes and fees by electronic transfer. The bill includes provisions to facilitate this process, along with regulations to support the use of gold and silver in transactions in the state.
On April 29, the Senate unanimously passed the bill by a 38-0 vote. On April 30, the House concurred with the Senate amended version in a unanimous 113-0 vote, completing the legislative process and sending the bill to Gov. Ron DeSantis for consideration, who has promised to sign the bill, meaning Florida will allow transactional gold and silver to become legal tender.
H.B. 999 not only declares gold and silver coins legal tender for debt repayment but also removes taxes on their exchange, treating them as money rather than commodities. This aligns with the Constitution’s mandate and sets a precedent for undermining the Federal Reserve’s stranglehold. State agencies can accept these metals for taxes and fees, potentially via electronic transfer, further normalizing their role in everyday transactions.
As a practical matter what this means is that once the legislation is implemented you could deposit gold or silver in an approved institution (or deposit dollars and ask the institution to buy gold or silver on your behalf) and the institution would then issue you a debit card that would allow you to pay your purchases and bills with gold or silver at the spot market price.
Transactional gold and silver would hedge your quality of life against the vagaries of Federal Reserve policies by tying your purchasing power to the price of gold (or silver) rather than the Federal Reserve’s paper money.
No doubt you will have lots of questions about how this will work, is it really constitutional and how, when and where you can open your own “pirate money” account?
There are two steps to getting answers to those questions: First, read Pirate Money: Discovering the Founders’ Hidden Plan for Economic Justice and Defeating the Great Reset; Second, read the legislation in your preferred state and look for a financial institution that serves your particular needs once the implementing regulations are in place.
The Federal Reserve has wrecked our monetary system by creating a monopoly based on its fiat paper currency. Without the backing of gold or silver, the central bank can – and has – regularly created money out of thin air.
This not only devalues your purchasing power over time; it also allows the federal government to borrow and spend far beyond what would be possible in a sound money system.
It is also worth noting, as the Tenth Amendment Center did, that without the Fed, the U.S. government wouldn’t be able to maintain all its unconstitutional wars and programs. The Federal Reserve is the engine that drives the most powerful and intrusive government in the history of the world, Pirate Money is one step in returning it to its proper constitutional limits.
Our friend Kevin D. Freeman, CFA, author of Pirate Money: Discovering the Founders’ Hidden Plan for Economic Justice and Defeating the Great Reset is considered one of the world’s leading experts on the issues of Economic Warfare and Financial Terrorism. He has consulted for and briefed members of both the U.S. House and Senate, present and past CIA, DIA, FBI, SEC, Homeland Security, the Justice Department, as well as local and state law enforcement. His research has been presented in critical DoD studies on Economic Warfare, Iran, and Weapons of Mass Destruction presented to the Secretary of Defense and the Under Secretary of Defense, Intelligence. He has traveled extensively with research trips to Russia and China and throughout Europe and the Americas. He is also a Contributing Editor to Tactics and Preparedness magazine. Kevin is Co-Founder of the NSIC Institute; Speaker of the Cherokee Community of North Texas; a Senior Fellow at the Center for Security Policy; Trustee at Oklahoma Wesleyan University; and a member of the Advisory Board of First Liberty Institute.
- Florida
- Pirate Money bill
- Gold
- Silver
- Legal Tender
- Currency inflation
- Federal Reserve Notes
- Constitutional Power
- State legal tender
- Florida House Bill 999
- Rep. Doug Bankson
- Rep. Monique Miller
- Gov. Ron DeSantis
- Transactional gold and silver
