Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Pay Me In Gold: Lawmaker Requests Compensation In “Money That Has Intrinsic Value”

IMG Auteur
Published : November 14th, 2012
617 words - Reading time : 1 - 2 minutes
( 6 votes, 5/5 ) , 1 commentary
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
1
comment
Our Newsletter...

 

 

 

 

Some lawmakers are finally getting it, with the latest example coming from Jerry O’Neil, a state congressional representative in Montana.

 

At one time a trivial matter for O’Neil, he says he now understands the damage being done by the Federal Reserve’s monetary policy and the over $16 trillion in U.S national debt.

 

In a letter to Montana’s Legislative Services, the congressman notes that the U.S. Constitution  prohibits the payment of debts in anything but gold and silver, and says that his oath to the Constitution and the people he represents can only be honored if the government pays his legislative salary to him, “in gold and silver coins that will still have value when the U.S. dollar is reduced to junk status.”

 

The full copy of the letter (pdf) is available below:

 

 

November 12, 2012

 

 State of Montana Legislative Services

 Central Services Office

 Post Office Box 201706

 Helena, Montana 59620-1706

 

Re: Legislator Compensation

 

Dear Legislative Services:

 

Last week I was re-elected to serve the people of House District 3 as their Representative in the Montana Legislature. Once again it will be my privilege to take the oath of office, promising to obey and protect the United States Constitution and the Constitution of Montana.

 

When campaigning, some of my constituents informed me I was not honoring my duty to uphold and defend the United States Constitution. The area of their concern is the prohibition, contained in Article I, Section 10, that states, “No state shall – - make anything but gold and silver coin a tender in payment of debts – -.” They ask me how I, a policy maker for the State of Montana, can ignore this clear constitutional prohibition.

 

Over the 10 years I have previously served in the legislature I have considered this a trivial matter that would show me to be out of step with our national rulers if I made an issue out of it. I did not want to be branded as a fanatic over an issue of no consequence.

 

Today I am looking at this issue in a new light. When I was going to my constituents homes I agreed with them the most important issue for the coming legislative session will be to protect them from the economic debacle hanging over our heads.

 

With just a cursory look at history we know a country that lives beyond its means faces dire consequences. Having a $16,000,000,000,000 national debt is a warning sign we can only ignore at our peril. Having such a debt and allowing it to increase unchecked is an invitation for national suicide.

 

It is very likely the bottom will fall out from under the U.S. dollar. Only so many dollars can be printed before they have no value. The Keynesian era of financing government with debt appears to be close to its demise. If and when that happens, how can we in the Montana Legislature protect our constituents?

 

The only answer I can come up with is to honor my oath to the U.S. Constitution and request that your debt to me be paid in gold and silver coins that will still have value when the U.S. dollar is reduced to junk status. I therefore request my legislative pay to be in gold and silver coins that are unadulterated with base metals.

 

I am not asking for you to give me gold and silver American Eagles at their face value of $50.00 and $1.00, but rather at their current market prices that today are $1,801.00 and $35.28.

 

Hopefully this will be an example for our Montana citizens and prompt them to also have some of their own wealth in money that has intrinsic value.

 

Yours truly,

 

Jerry O’Neil

 

 

Thanks to Mac Slavo from www.shtfplan.com
Companies Mentionned : Metals X |
<< Previous article
Rate :Average :5 (6 votes)
>> Next article
Latest comment posted for this article
A congressman woke up ? WTF ? Read more
prljr - 11/14/2012 at 10:10 PM GMT
Rating :  0  1
Top articles
Latest Comments
In Search of the Magic Wand: Car...
25 FebDoom
Yes, stay away from University of Phoenix, a school with a 9% graduation rate, that only gets students because it spends $200,000 a day on Google a...
Emails From Kiev: Free Speech Va...
25 Febovertheedge
"The problem is, the asshats associated with Poroshenko are even worse than he is." I'm assuming you mean the predators in the US White Ho...
The Bull Case For Gold This Year...
25 Febdepourcq
You talked about all the wrong reasons that gold will rise or fall, their is only one that everyone should know. The US has a debt of 18.134 trilli...
The Bull Case For Gold This Year...
25 Febneville
The fact that you are very lowly rated might be one of two things .1.You have been playing this card to often (Bear Joker) 2,The other is that you ...
Interventionism Kills: Post-Coup...
24 FebJosu O.
A nice summary of what actually happened. It's sad that few europeans and even fewer americans are going to read it. My opinion is that US...
First ZIRP, Now NIRP!
24 FebM.
Industries which have been considered to be the safest places to place money are now being forced into becoming quasi hedge funds to achieve yield....
Debt Heaven Fallacy, not on Earth
23 FebKarandash
45 years ago I needed a loan to buy a car. I was 19. I had a job. But my parents had to put their house as collateral. ahh... forget it....
"Prepare for Full-Scale War" say...
22 Febend
People living in Ukraine suffered a lot from Mongols, Poles, Germans and such. They have been terrorized, striped of their identity, forced to sign...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Anaconda Min.(Au)ANX.TO
maximizing Pine Cove deposit potential through recent drilling
CA$ 0.04+0.00%Trend Power :
Corporate news
Sprott Resources(Ag-Au-Co)SCP.TO
Resource Corp. Announces Date for 2014 Annual Results Conference Call
CA$ 1.33-0.75%Trend Power :
Corporate news
Vena Res.(Ag-Au-Cu)VEM.TO
Intersects 24.2 Metres of 131 g/t Ag and 0.4 g/t Au Including 8.1 Metres of 292 g/t Ag and 0.
CA$ 0.07+16.67%Trend Power :
Corporate news
Tanami Gold(Ta-Au)TAM.AX
NST Signs HOA to Acquire Central Tanami
AU$ 0.03+0.00%Trend Power :
Corporate news
TristarTOG.TO
TORC Announces Closing of the Previously Announced Strategic Acquisition in Southeast Saskatc
CA$ 9.16-0.11%Trend Power :
Corporate news
Callinan Royalties(Cu-Le-Ni)CAA.V
Graduates to the Toronto Stock Exchange
CA$ 1.80+2.27%Trend Power :
Corporate news
BowmoreBOW.V
Reports Exploration Results From the Victoria Lake Tin Property in New Brunswick
CA$ 0.06+20.00%Trend Power :
Corporate news
Tahoe ResourcesTHO.TO
Announces Receipt Of Shareholder Approval
CA$ 17.00+0.06%Trend Power :
Corporate news
Bannerman(Ur)BMN.AX
Construction Update - Etango Heap Leach Demonstration Plant
AU$ 0.06+0.00%Trend Power :
Corporate news
Colibri Res.(ag-au-cu)CBI.V
Announces Annual and Special Meeting and Proposed Share Consolidation
CA$ 0.00+0.00%Trend Power :
Corporate news
Comments closed
  All Favorites Best Rated  
A congressman woke up ? WTF ?
Rate :   0  1Rating :   -1
EmailPermalink
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.