Sunday, March 13, 2011

Utah legislature approves gold and silver as legal tender

This is a trend that I predict will gain momenteum:

The Utah House of Representatives has approved a bill that allowing gold and silver coins to be used as currency, though unlike similar bills in other states, it doesn't force anyone to accept gold or silver as legal tender.
As TPM has been documenting, there's been a recent push for gold and silver coins to be used as currency. Georgia state Rep. Bobby Franklin (R) recently reintroduced legislation to force his state to conduct all monetary transactions with U.S. gold or silver coins -- including the payment of taxes.
But Georgia and Utah are just two of at least ten states to introduced similar legislation in the past few years -- much of it in 2009 -- and others like Florida have come up with creative alternatives like gold vending machines in shopping malls.

A gold and silver standard is not perfect but it does have the effect of restraining politicians from excessive deficit spending and restraining the FED and banking cartel from stealing the little guys wealth via inflation.

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