SC Republican Wants to Ban Money
South Carolina State Rep. Mike Pitts wants to ban money.
South Carolina will no longer recognize U.S. currency as legal tender, if State Rep. Mike Pitts has his way.
Pitts, a fourth-term Republican from Laurens, introduced legislation earlier this month that would ban what he calls “the unconstitutional substitution of Federal Reserve Notes for silver and gold coin” in South Carolina. If the bill were to become law, South Carolina would no longer accept or use anything other than silver and gold coins as a form of payment for any debt, meaning paper money would be out in the Palmetto State.
Pitts said the intent of the bill is to give South Carolina the ability to “function through gold and silver coinage” and give the state a “base of currency” in the event of a complete implosion of the U.S. economic system.
“I’m not one to cry ‘chicken little,’ but if our federal government keeps spending at the rate we’re spending I don’t see any other outcome than the collapse of the economic system,” Pitts said. …
“To me, something I can hold tangible in my hand I can put more value in, especially under the current rate of inflation,” Pitts said. “In the case of total economic collapse, a barter tool is going to be worth a whole lot more value than paper with ink on it.”
But one legal expert told The Palmetto Scoop that, even if it were passed, Pitts’ bill would quickly be ruled unconstitutional.
(Hat tip: KT.)