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Kurt Bills introduces bill to push Minnesota toward printing its own money

by The Big E on May 10, 2011

Minnesota Republicans have finally figured out a way out of our deficit crisis.  We can just print our own money!  Rep. Kurt Bills (R-Rosemount) introduced this genius legislation.  

Bills teaches Economics to students.  So I don’t know if I’m more frightened that a man this lacking in intellect is teaching kids or that he got elected to the Minnesota Legislature.  Cucking Stool has the details:

Friday, GOP freshman Rep. Kurt Bills introduced HF 1664 that would make gold and silver coin legal tender for debts, eliminate all state taxes on the sale of gold or silver, and create a commission to study the creation of an alternative currency for the state of Minnesota. Bills, an economics teacher at Rosemount High School, appears to be Minnesota’s agent in a strategy of pushing “constitutional tender” bills at the state level to challenge the Federal Reserve bank.

Proponents of these bills argue that gold and silver are the only constitutional forms of payment, that gold and silver have inherent value lacking in fiat currency like Federal Reserve notes, and that the dollar is heading for an inevitable hyper-inflationary death spiral.

Of course, the purpose of Article 1, Section 10 of the U.S. Constitution was to prevent multiple state currencies. The “inherent value” of gold and silver is even more volatile than the value of Federal Reserve notes. And the purpose of these bills seems to be explicitly deflationary, crippling the ability to borrow and lend.

The stupid, it hurts.  Please make it stop.

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