Sen. David Thomas, a Republican from Greenville,Â wants to make gold and silver coins another option in the Palmetto State.Â Lawmakers are calling it theÂ Sound Money Legislation.
“I’m no financial expert but am I smart enough to know that you can’t keep printing money when it has no backing,” says SC Republican Representative Mac Toole.
Thomas also wants a special joint committee to study the need and processÂ for establishing an alternate currency.Â Read the entire billÂ here.
â€œFor those of you who think this is a way to reestablish succession, the bill was passed in Utah and itâ€™s currently law there,” SC Republican RepresentativeÂ Mike Pitts.
AÂ similar bill has been introduced in the House.Â Both bills have been referred to committee.
â€œSound money is fundamental money that has maintained its purchasing power over a very long time. Why does it do that? Because it has intrinsic inherit value. The piece of paper doesn’t have intrinsic value,â€ says Dr. Steve Isom, South Carolina Sound Money.
The group SoundMoney.com gathered at the State House for a press conference Wednesday morning.Â Rep. Michael Pitts, one of the House bill sponsors,Â was on hand along with Sound Money Chairman Dr. Steve Isom.
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