by The Sharp Edge, Corey’s Digs:
As the national debt approaches 32 trillion, and the Biden regime commits billions to Ukraine despite reports of embezzled funds, the American financial system is failing. Already, the 2023 banking collapse is bigger than 2008, with the combined assets of three big banks that failed in 2023 dwarfing the assets of 25 banks that failed in 2008. Meanwhile, the public is strapped with historic levels of consumer debt and inflation, driven by federal spending, as Americans struggle to make ends meet. Congress has, so far, failed to restrain the out-of-control federal budget, by passing trillion-dollar packages, continuing the money flow to weaponized agencies riddled with fraud, waste and abuse. Though this financial debacle may appear on the surface to be a destructive combination of incompetence and circumstance, in reality, the controlled demolition of the financial system as we know it is all part of the World Economic Forum’s Great Financial Reset.
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While we watch this trainwreck in disbelief, central banks are preparing behind the scenes for the next phase of their financial reset – central bank digital currencies. A programmable CBDC system would enable “absolute control” over how, when, where, and by whom every single transaction is made. The implementation of a CBDC system is, without a doubt, the greatest threat to our financial freedom.
As part of this plan to roll out CBDCs, a stealth piece of legislation known as the Uniform Commercial Code, has been sliding through states unnoticed. The UCC is a set of standards designed to create uniformity among states to facilitate interstate commerce. However, recent changes to the UCC, overseen by the Uniform Law Commission, have embedded language to block cryptocurrencies while enabling CBDCs, hidden among hundreds of pages. The devil is always in the details. Tucked into the UCC amendments, the definition of “money” is amended to state “the term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” This is a sly way to block crypto because it is a “medium of exchange” that existed “before” the medium was adopted by the government. The language of course clearly paves the way for a CBDC as the implied “medium of exchange” to be “adopted by the government.”
This sinister language embedded in the UCC amendments has gone largely overlooked by state legislatures, and has already passed in 5 states, while there is legislation to amend the UCC still pending in more than 15 states. Some states have gotten wise to the sneaky tactic and changed the language to explicitly exclude central bank digital currency from the definition of money in the UCC. Florida and Indiana have both passed UCC amendments to exclude CBDCs from the definition of money, while the governor of South Dakota outright vetoed a bill containing the shifty language. These devious UCC amendments are a perfect example of why state legislation to protect the population from financial tyranny is so important.
Needless to say, we must act with the utmost urgency to protect our financial freedom and security at the state level, by urging state legislatures to pass meaningful legislation in each state to protect the use of cash, affirm gold and silver as legal tender, establish bullion depositories, and halt the implementation of central bank digital currencies. Do you know where your state stands on these important financial freedom issues? Check the list of legislation working through your state below, and then contact your state representatives to insist they take immediate and decisive action to secure your state’s financial freedom. If your state is lacking in proposed legislation in these key areas of financial freedom, check out what other states are doing, and then urge your representatives to propose similar legislation.
Here are some additional tools to track state legislation related to precious metals, cryptocurrencies, and by using a “Full Text Search” of bills in each state.
Alabama
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
SB13 Passed on April 7, 2022. SB13 is designed “To extend the exemption from sales and use tax for the gross proceeds from the sales of gold, silver, platinum, and palladium bullion, and money.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
HB408 Introduced and referred to the House Financial Services Committee on May 2, 2023. HB408 would amend the Uniform Commercial Code to define a central bank digital currency “and to specify that the definition of ‘money’ does not include central bank digital currency.” Other states have introduced or passed legislation to amend the UCC by changing the definition of money to exclude crypto such as Bitcoin while enabling a CBDC.
Enabling CBDCs:
HB348 Passed in the House on May 9, 2023, referred to Senate Judiciary Committee on May 11, 2023, and SB231 introduced and referred to Senate Committee on April 20, 2023. HB348 and SB231 seek to amend the Uniform Commercial Code. Changes to HB348 proposed on May 3, 2023, define a central bank digital currency and a deposit account, stating that the term “deposit account” does not include a CBDC. However, these changes do not appear in the latest version of HB348. Other states have introduced or passed legislation to amend the UCC by changing the definition of money to exclude crypto such as Bitcoin while enabling a CBDC. The definition of “money” in HB348 and SB231 does not contain such language. However, the definitions of a “controllable electronic record” (CER) in both HB348 and SB231 do contain similar language to exclude crypto such as Bitcoin while enabling a CBDC.
Contact your Alabama state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Alaska
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
HB3 Passed in the House on May 11, 2023, referred to Senate State Affairs Committee on May 12, 2023. HB3 affirms “gold and silver specie as legal tender.”
Removing Taxes on Gold & Silver Transactions:
HB3 Passed in the House on May 11, 2023, referred to Senate State Affairs Committee on May 12, 2023. HB3 states that a city or borough “may not levy or collect a sales or use tax on the sale or exchange of specie,” in reference to gold and silver.
Under current Alaska Department of Revenue Tax Division, “The State of Alaska currently does not have a sales and use tax; however, some local jurisdictions impose local sales taxes.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB86 Referred to the House Finance Committee on April 14, 2023, and SB84 referred to the Senate Finance Committee on May 9, 2023. The “Uniform Money Transmission Act” seeks to regulate “virtual currency” or cryptocurrency “for money transmission” and to “cooperate with other states in the regulation of money transmission.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Alaska state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Arizona
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
S1235 Passed Senate Finance Committee on February 6, 2023. S1235 seeks to affirm “specie” and Bitcoin as legal tender. “Specie” is defined as “coins having precious metal content.”
HB2014 Signed into law on May 22, 2017. HB2014 states “’Legal tender’ means a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues. ‘Specie’ means coins having precious metal content.”
