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25 September, 2012

13 States Now Considering Gold and Silver as Money

13 States Now Considering Gold and Silver as Money: When the governor of Utah signed a bill that made gold bullion and silver bullion legal tender in the state last March, he had no idea of the groundswell he was going to start.

The Utah Sound Money Act outright flies in the face of the fiat money system, which is the printed money used today; backed by nothing but the promises of politicians...

... It is not practical for people to carry around heavy gold bullion or silver bullion coins, so the Utah Gold & Silver Depository was created. People can deposit their gold bullion and silver bullion coins there and receive a debit card to make transactions with—just like depositing money at a bank. The prices of gold bullion and silver bullion are based on the closing prices of both precious metals in U.S. dollars in London on each business day, creating the exchange rate used on the debit card.

Missouri and South Carolina in 2012 are the closest to enacting very similar legislation and creating a gold bullion and silver bullion depository, just like Utah. (Source: CNN Money, February 3, 2012.)...

... Other states considering legislation to make gold bullion and silver bullion legal tender are Montana, Colorado, Idaho, Indiana, New Hampshire, Georgia, Washington, Minnesota, Tennessee, and Virginia...


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4 comments:

  1. Good news for some (the haves) and bad news for others (have nots). So many just barely getting by and unable to reinvest in a new/old sound currency. I can only hope that come time they have purchased other items for barter if not metals. They should/we should all keep in mind lead (if ya know what I mean) will also be a precious metal in the future. Diversify and stock up!

    ReplyDelete
  2. Well, it is all well and good if you can trust the politicians in your home state. I'm in California, and there ain't no way in Hell that I would ever trust them with my precious metals.

    ReplyDelete
  3. So, what happens when the states get in financial trouble, as most are now, and decides they need those precious metals to pay their debts?

    Kind of like, MF Global or PGF?

    You wake up one morning, and your debit card from the bullion bank no longer works, and the vaults are closed up.

    I don't trust banks, states or federal interference. As long as the Federal Reserve is still open and operating our monetary system, there is no escape.

    ReplyDelete
  4. If you don't hold it you don't own it. Whenever you put anything in a bank vault there is a chance you will never get it back.

    ReplyDelete

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