Texas Proposal Would Include the Right to Sound Money and Bitcoin in the State Constitution

AUSTIN, Texas (March 7, 2017) – A joint resolution introduced in the Texas House proposes a state constitutional amendment to guarantee the right to own, hold and use any mutually agreed upon medium of exchange. Passage of the bill would take another step toward undermining the Federal Reserve’s monopoly on money.

Rep. Matt Schaefer (R-Tyler) introduced House Join Resolution 89 (HJR89) on March 2. If passed, the resolution would place a constitutional amendment on the ballot recognizing the right of the people to own, hold, and use a mutually agreed upon medium of exchange, including cash, coin, bullion, digital currency, or privately issued scrip. The proposal would add the following language to the Texas state constitution.

“The right of the people to own, hold, and use a mutually agreed upon medium of exchange, including cash, coin, bullion, digital currency, or scrip, when trading and contracting for goods and services shall not be infringed. No government shall prohibit or encumber the ownership or holding of any form or amount of money or other currency.”

In effect, passage of the bill would, as Ron Paul has often said, “legalize the Constitution” by treating gold and silver specie as money. Professor William Greene, an expert on constitutional tender, noted that the proposal would introduce competition with the Federal Reserve.  “By introducing competition in currency through ‘recognizing the right of the people to own, hold, and use’ bullion such as gold and silver coins, passage of the amendment would take one more step toward the ultimate goal of ‘nullifying’ the Federal Reserve system,” he said.

Continue Reading At The 10th Amendment Center

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Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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