Relevant Quotes
| The LORD recommends that you buy gold | Revelation 3:18 | I counsel thee to buy of me gold tried in the fire, that thou mayest be rich; ... |
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| The LORD instructs us to have honest dealings in business |
Leviticus 19:36 | Just balances, just weights,a just ephah, and a just hin, shall ye have: I am the LORD your God, which brought you out of the land of Egypt. |
| Proverbs 20:10 | Divers weights, and divers measures, both of them are alike abomination to the LORD. | |
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| Yet when men control money, dishonesty can be too tempting |
Amschel Mayer Rothschild | “Permit me to issue and control the money of a nation and I care not who makes its laws." – 1838 http://www.lookingglassnews.org/viewcommentary.php?storyid=121 |
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| Dishonest money has been the cause of wars |
Benjamin Franklin | “The refusal of King George III to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators was probably the prime cause of the revolution.” |
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| Dishonest money was predicted to cause loss |
Thomas Jefferson | "If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered." "I believe that banking institutions are more dangerous to our liberties than standing armies." |
| Andrew Jackson | “I have always been afraid of banks.” | |
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| The Founding Fathers endeavoured to prohibit dishonest money |
The United States Constitution: | Article I, Section 8, Clause 5 of the Constitution states that Congress shall have the power: “To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.” Article I, Section 10, Clause 1: No State shall … coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.” |
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| The LORD has strict rules for anyone or any institution that pays or accepts interest | Deuteronomy 23:20 | Unto a stranger thou mayest lend upon usury; but unto thy brother thou shalt not lend upon usury: that the LORD thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to possess it. |
| Ezekiel 18:10 - 13 | If he beget a son that..... Hath given forth upon usury, and hath taken increase: shall he then live? he shall not live: he hath done all these abominations; he shall surely die; his blood shall be upon him. |
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| People were warning about potential difficulties when abandoning responsibility | Charles Lindbergh, Sr. | This Federal Reserve Act establishes the most gigantic trust on earth. When the President (Wilson) signs this bill the invisible government of the Monetary Power will be legalized." - December 23, 1913 |
| Senator Carter Glass | "I never thought the Federal Reserve System would prove such a failure. The country is in a state of irretrievable bankruptcy." – 1983 | |
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| People are now warning everyone to take personal responsibility | Peter Daniels | “You ought to have a minimum of 20% of your net assets in cash that you can put your hands on.” |
| Franklin Sanders | “The ultimate liquidity is gold, which is the only financial asset that is not simultaneously somebody else’s debt.” “This vast undervaluation, when that pendulum swings back the other way, it will go way out the other way. The eventual price of gold is not going to be $400 an ounce, or $500 an ounce, it’s not going to be $1000 an ounce. It’s going to be $20,000 an ounce, or $25,000 an ounce, or $45,000 an ounce before it stops.” |
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| Recent Australian government public documents confirm coins as legal tender |
PROSPECTUS (Dated: 2009) Commonwealth of Australia Guarantee of Debt Securities Of Australian Authorised Deposit-taking Institutions covered by the Australian Government Guarantee Scheme for Large Deposits and Wholesale Funding. CURRENCY, MONETARY AND BANKING SYSTEM (p. 32) |
Australian Currency - Australia's unit of currency is the Australian dollar. Australia's currency comprises both coins and notes. Coins are issued by the Treasurer of the Commonwealth of Australia under the Currency Act 1965; those intended for circulation include denominations of 5, 10, 20 and 50 cents and $1 and $2. Numismatic (un-circulating collector) legal tender coins are also approved for sale by the Treasurer from time to time. Under the Reserve Bank Act 1959, Australia's currency notes are issued by the Reserve Bank of Australia (the "RBA") in five denominations: $5, $10, $20, $50 and $100. |
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| Legal tender payment for goods or services can be satisfied with coins |
RESERVE BANK OF AUSTRALIA Legal Tender - |
“It is the Bank’s understanding that, although Australian currency has legal tender status, it does not necessarily have to be used in transactions and that refusal to accept payment in legal tender notes and coins is not unlawful.” “It appears that the provider of goods or services is at liberty to set the commercial terms upon which payment will take place before the “contract” is entered into.” According to the Reserve Bank Act 1959, Australian notes are legal tender. According to the Currency Act 1965, coins are legal tender for payment of amounts which are limited … to any value if coins of value greater than $10 are offered. www.rba.gov.au/CurrencyNotes/LegalFramework/legal_tender.html |
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| Employers can pay employees in gold and silver coins |
“IRS Suffers Staggering Defeat” Tax Questions Raised Regarding Gold & Silver. Coins Used to Pay Wages. |
Around noon on Monday, September 17th [2007], a Las Vegas federal jury returned its verdict refusing to convict nine defendants of any of the 161 federal tax crimes they had been charged with. The Government argued that the payments in solid gold and silver U.S. coins must be considered at their bullion (i.e., intrinsic full-market) value when considering the worth of the wages for purposes of the internal revenue code. The essence of the argument is that under the Constitution Congress is obligated by law to mint and circulate such coins as demand requires, and must establish the value of coins as they are used as legal tender, but the coins' market value, arising as valuable personal "property," is a distinct, separate attribute of such coins, and is of no legal consequence if the coins are used as legal tender. |
| In other words, if a worker is paid with such coins, his taxable "income" (if any) can only be the face value indicated upon the coin money paid -- i.e., $1.00 for a circulating silver dollar or $50 for a circulating gold U.S. coin. Not surprisingly, the IRS has never issued any public guidance regarding this significant issue. The first case, Ling Su Fan v. U.S., 218 US 302 (1910) establishes the legal distinction of a coin bearing the "impress" of the sovereign: | ||
| "These limitations are due to the fact that public law gives to such coinage a value which does not attach as a mere consequence of intrinsic value. Their quality as a legal tender is an attribute of law aside from their bullion value. They bear, therefore, the impress of sovereign power which fixes value and authorizes their use in exchange." | ||
| The second case, Thompson v. Butler, 95 US 694 (1877), establishes that the law makes no legal distinction between the values of coin and paper money used as legal tender: | ||
| "A coin dollar is worth no more for the purposes of tender in payment of an ordinary debt than a note dollar. The law has not made the note a standard of value any more than coin. It is true that in the market, as an article of merchandise, one is of greater value than the other; but as money, that is to say, as a medium of exchange, the law knows no difference between them." www.rense.com/general78/defeat.htm |
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US Congress has legislated that US
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United States Code, Title 31 Subtitle IV, Chapter 51, Subchapter I, Section 5103. Legal Tender - |
United States coins and currency (including Federal Reserve Notes and circulating notes of Federal Reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.
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There just isn’t enough gold coins for everybody
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Jeff Clark, Senior Editor
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Casey’s Gold & Resource Report |
Sentry Gold is a monetary service in the legal exchange of Australian legal tender.
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