Sunday, March 19, 2023

Don't freak out. Johnson nor Lambert are party to an effort to surrender U. S. sovereignty.

by Rod Williams, March 19, 2023- The Tennessee Conservative recently posted an article warning that, "A bill that will legally redefine what the law currently recognizes as “money” in the state of Tennessee is very quietly being pushed through the state legislature and is very close to hitting Governor Lee’s desk to be signed into law." 

The author of the piece says Senator Johnson’s bill appears to be setting up a new Global Currency.

Don't freak out. I don't think Johnson nor Lambert are party to an effort to surrender U. S. sovereignty.  They both seem to be pretty solid conservatives as far as I can tell and they both seem to respect state sovereignty and federalism. 

I wonder if the author of the piece, Kelly Jackson, has the credentials to offer an informed opinion on this topic. She has a BA in Communications from Point Loma Nazarene University and has a background in law enforcement and human resources. She is active in Mom’s for Liberty Williamson County and Tennessee Stands.

I would not have credentials to write authoritatively on the topic either. I have a major in Economics from years ago and had a course in Money and Banking and I stay informed, but I would not feel qualified to critique the "Money Transmission Modernization Act."  I would only take seriously an opinion of a renowned economist or someone who had worked in a related financial field of banking or bank regulation for many years. A search for more information on the bill does not reveal any other alarm being sounded except form one obscure blogger that gets into la-la land ranting about the Council on Foreign Relations, the Federal Reserve, the Bilderberg's, and the World Bank. 

The Money Transmission Modernization Act is a model piece of legislation produced by the Conference of State Bank Supervisors. The act is a single set of nationwide standards and requirements created by industry and state experts. Sometimes you need to trust the experts. The law was approved in full by the CSBS Board of Directors in August 2021. The CSBS was organized in 1902 as the National Association of Supervisors of State Banks. In 1971, the name was changed to the Conference of State Bank Supervisors.  

The Act has already been adopted by a bunch of states. To learn more about the act read it, SBO286. Also visit the CSBS website and see CSBS Model Money Transmission Modernization Act. There is page after page of explanations broken down into specific topics.  Also, do a search. I found no one else in a freak-out mode over this bill. I saw no opinion piece from any credentialed authority critical of the bill. 

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