Panel Rejects NI ‘Sound Money’ Bill

A group of North Idaho residents and Rep. Lenore Barrett, R-Challis, attempted to introduce a “sound money” bill this morning in the House State Affairs committee regarding gold and silver currency. Tom Dillon of Sandpoint, chairman of the Legislative District 1 Republican Central Committee and a member of the Idaho Sound Money Task Force, told the panel, “The evidence is overwhelming that the federal reserve system has failed in its duties to stabilize the economy. … It is an emergency situation.” He said the “current debasement of our currency … is a disgrace to our American heritage. … A penny saved is no longer a penny earned.” With the proposed bill, he said, “Idaho will become the monetary anchor in a stormy sea of financial chaos”/ Betsy Russell , Eye On Boise. More here .

Question: What do you make of this bid by North Idahoans to introduce a ‘sound money’ legislation?