Louisiana to consider minting a new State Currency

KTAL ^ | Jaclyn Tripp

[Macho MAGA Man]

SHREVEPORT, La. (KTAL/KMSS) — A state representative will introduce a bill before the Louisiana Legislature that could establish gold and silver as the state’s currency.

Generations have passed since legal tender was last created in the state of Louisiana, but Representative Raymond Crews, a pro-gun, pro-life, combat veteran Republican from District 8, is submitting HB 714 for consideration. If passed, the bill will once again establish gold and silver as currency in the state.

Prior to its closure, the U.S. Mint in New Orleans stamped more than 427 million gold and silver coins. The last time it minted coins was in 1909.

But at least three nations have circulated coins across the lands we now know as Louisiana.

“Before the Civil War began, the Federal Government did not issue currency. It only issued coins,” Rich Self of American Coin in Shreveport told KTAL NBC 6. “Currency, which was prevalent, was privately issued by banks, businesses, local merchants, etc… all through the country.”

Self said when the Civil War began, Lincoln saw the need for the government to control the country financially.

“During the Civil War, most of the southern States continued to issue much of their own money, including Louisiana,” said Self. “The majority of parishes also issued their own money, and so did many of the towns and cities. Even Shreveport issued money.”

[P.O.E.]

Black gold. Texas Tea.

[sergeantdave]

10-4

[Disambiguator]

Have you checked out the link in post 2? They’ve found a way to put gold into a small, spendable form, and it’s not considered “dollars” so it’s not counterfeiting, like some other attempts at something similar ended up being.

They’re just various fractions of an ounce of gold in a flat bill format.

[dynachrome]

I have a few of these, but the markup is pretty high for the amount of gold.

[cross_bearer_02]

The Constitution explicitly forbids a lot of stuff that’s been going on for the last three or so years.

[StolarStorm]

Right. The Texas method uses digital currency backed by Gold. Here is a link to the House version of the bill. It passed committees in both the House and Senate, but got stalled due to other priorities. It will be revisited. The Texas Gold Depository has already been created that will be used to do this. The Constitution can be interpreted with nuance, and the nuance that Texas sees is the idea that it will be legal tender.

https://trackbill.com/bill/texas-house-bill-4903-relating-to-the-issuance-of-gold-and-silver-specie-and-the-establishment-of-a-digital-currency-based-on-gold-and-silver-authorizing-a-fee/2395462/

[cowboyusa]

Kranks. Look at the value od a Dollar in 1971, and look at it now!

[Disambiguator]

Texas is getting ready to Texit.

[StolarStorm]

Only speaking for myself and total speculation... but I think that it would only happen if the US were to collapse. Which I think is fairly likely given that interest payments on now the biggest item of the budget. It’s just not sustainable long term. We either have to allow hyperinflation to reduce the real value of the debt. Anyway, many things occuring in Texas may indicate an expectation that some form of collapse or fragmentation will occur.

[itsahoot]

States can legally create currency as long as it is backed by gold.

I remember seeing gold notes issued by banks when I was a kid. Not many mind you, because folding currency was not plentiful in my neighborhood.

[frank ballenger]

Exactly.

Soros and the wokesters would laugh their heads off if someone said “better watch out so as to comply with the US Constitution.” 😁🤸🤹🎈🎈

[cowboyusa]

The Fed is illegal, and has disposed the currency.

[Disambiguator]

The problem with digital and crypto currencies is that they assume the power stays on. If we lose the power grid, then what do you use for money?

If there’s no internet, anything digital effectively ceases to exist.

[cowboyusa]

Destroyed

[itsahoot]

The Constitution expressly forbids this.

The constitution also expressly prevents the Constitution being changed without an amendment also but heck who cares if Kennedy and Nixon removed gold and silver as the coin of the realm despite the constitution saying it is the only legal tender.

[StolarStorm]

Agree, that is a huge issue. I think the digital currency idea is just the first step, one that the lawyer types think is more doable.

[Alter Kaker]

Kranks. Look at the value od a Dollar in 1971, and look at it now!

That's cool. What did the US economy do over the same time period? Want to go back to those 1971 GDP figures?

[cowboyusa]

It did well under Reagan and Clinton with stable money, it did well under Trump. Low taxes also grow the Economy. But the dollar still continued to lose value.

[StolarStorm]

If it wasn’t for the gold and silver part in the Constitution, I’m sure the digital currency would be backed by a basket of items, one being West Texas Crude.

[EnderWiggin1970]

Sigh. It's a bit silly seeing states now being ignorant and doing things redundant when the market has already done this. There's no point to governments at the state or federal level trying to create currency. It's in the hands of the free market now as it should be. Nothing a government will do adds any value - either they repeat what the free market has done, or they add objectionable features like censorship and control of the money supply under centralized control that the market will reject, thus making them superfluous.

https://coinmarketcap.com/currencies/pax-gold/