by Joseph P. Farrell, Giza Death Star:
This story was spotted and shared by S.D.(to whom a grateful thank you!), and while it is now a familiar story to regular readers of this website, as more and more states have joined the revolt against central bank digital currencies and the threat to freedom they represent, there is something in this version of the story that grabbed my attention for reasons we’ll get to shortly. Here’s the story:
Nebraska Ends Income Taxes on Gold and Silver, Declares CBDCs Are Not Lawful Money
TRUTH LIVES on at https://sgtreport.tv/
What makes this bill intriguing to be, and what grabbed my attention about it, was the rationale for it:
LB 1317 is the fourth major sound money bill to become law this year, as state lawmakers across the nation scramble to protect the public from the ravages of inflation and runaway federal debt.
Under the new Nebraska law, any “gains” or “losses” on precious metal sales reported on federal income tax returns are backed out, thereby removing them from the calculation of a Nebraska taxpayer’s adjusted gross income (AGI).
Supported by the Sound Money Defense League, Money Metals Exchange, and in-state advocates, Nebraska’s sound money measure passed out of the unicameral legislature’s Revenue committee unanimously before being amended into a larger bill.
Sponsor Sen. Ben Hansen said upon news of the formal enactment of his legislation, “Gold and silver are the only forms of currency mentioned in our Constitution and with that comes the people’s ability to use it as such without penalty from the government. Saving, and using, gold and silver is our right and one of the only checks and balances to our federal government’s unending devaluation of our paper currency. ”
Taxpayers often realize ‘gains’ when converting the monetary metals back into Federal Reserve notes even though the ‘gains’ do not reflect an increase in real value but rather reflect the currency’s ongoing devaluation.
Despite the lack of “real” gains, the Internal Revenue Service imposes capital gains taxes on such transactions. Nebraska has now opted out at the state level, declining to carry the IRS’s position into the definition of Nebraska income. Jp Cortez, executive director of the Sound Money Defense League, explained during his testimony before the Revenue Committee that the ferocious wave of inflation facing Nebraskans is largely caused by harmful actions of the Federal Reserve.“The state can take a different course and provide Nebraska citizens cleaner access to gold and silver ownership – and these metals are not only a proven inflation hedge but states all over the country are remonetizing constitutional sound money in the form of gold and silver,” Cortez said.
Now this, to me, is the clearest elaboration of the real motivations and reasoning for such bills by states yet, for it clearly outlines why some states are taking these measures; in a way, these measures are a tax revolt against the corruption of the federal government in the swamp, and the banking-money monopoly in league with it. It is the type of reasoning that needs to be pursued to its logical end, which is an end that our friend and colleague Catherine Austin Fitts has been advocating for some time: the payment of federal taxes into state-established and managed escrow accounts, to be paid when the federal government comes into compliance with sound financial and budgetary practice, the principal of which is absolute transparency. One might add the requirement that the government must adopt and advocate policies placing this country first and foremost in its policy, and enforcement of existing laws and our own borders (and no, the Ukraine’s borders are not our borders). To put this point differently, the Nebraska bill is using the same reasoning, but falls short of giving the bill actual teeth.
Those necessary dentures would also be well-served by the establishment, in each state adopting such measures, of a state bank such as exists in North Dakota, and then, each state should enter into agreements and compacts with other states directly regarding interstate clearing and so on.
So, to be clear: (1) state established escrow tax accounts, (2) state banks, (3) convertibility, (4) real physical and anonymous media of exchange, (5) regional and direct compacts between states.
As I’ve been warning for some years now, we’re at a “War of the League of Cambrai” moment, when the duplicity of the banksters in the Venetian swamp was too much for basically everyone. They had extended their domains to the mainland of Italy, and ruled with characteristic duplicity and rapacity. Eventually those mainland domains broke away, leaving only the original tumor in the center of the swamp to fend for itself, amid declining financial power. And then a little corporal from France unloaded the cannon from some French barges while a few ships-of-the-line appeared in the lagoon to “reinforce” the point, and it was suddenly all over… but not until it had managed to metastasize into a swamp called Amsterdam, and thence via a long and circuitous route, to arrive at a swamp in Maryland along the Potomac river. And with the revolt of the states – if they will but take those final steps – and the gold repatriations of other nations, we might just be looking at the opening moves in the formation of a Second League of Cambrai, and the opening shots (and shorts?) in a Second War of the League of Cambrai.
