06/December/2011 Congressional Bill to Monetize the 'Libertad' Silver Ounce in Mexico
Asociación Cívica Mexicana Pro Plata, A.C. We present here for our readers the whole text of the Congressional Bill which proposes the monetization of the "Libertad" silver ounce, which several Congressmen ("Diputados") associated with various political parties introduced into the Congress on April 28, 2011. The Bill includes the exposition of the economic and social reasons which support the Bill's proposal, as well as the precise changes that must be made to the present Monetary Law in order to introduce the "Libertad" silver ounce into circulation, in parallel with the fiat peso.
At the present time the Bill has been turned over to the Finance Committee of the Congress and has considerable support among legislators of all political parties; the only obstacle to approval is the opposition of the Bank of Mexico, which adduces risks which are actually non-existent and which has systematically refused an open dialogue in the Congress in order to analyze the Bill.
We present the full text of this Bill because we are very proud of our country and of our legislators, who for the last eight years as members of four separate elected Legislatures have patriotically insisted upon the monetization of the "Libertad" silver ounce, despite the obstinate opposition of the Bank of Mexico, Mexico's Central Bank. (Legislatures LVIII, LIX, LX and LXI 2009 - 2012).
Mexico is the one and only country in which a Legislative Body is insisting, and has been insisting for the last eight years, on the imperative need for real money, which can only be regained by inserting a silver coin into circulation in parallel with the fiat peso.
The world is now going down to its destruction in the throes of the present fiat money episode. This period will pass. Silver will, someday, once again be money. When fiat money destroys itself, which it must, the silver placed in circulation alongside it will remain in the field, reaffirming its millennial status as real money for the people - along with gold.
Mexican Civic Association Pro Silver Hugo Salinas Price President
yeah this made news back when silver was 10 or 11 bucks/oz. Apparently the legislators want it but the obstacle is the Mexican Central Bank, no surprise there. I have no clue as to Mexican legislative procedure and law but the central banks are running the show everywhere - interesting though.