Silver and Gold?

Posted by M ws On Friday, May 4, 2012 2 comments
The following article States To Use Gold and Silver as Legal Tender by Susanne Posel was taken from HERE.

States To Use Gold and Silver as Legal Tender by Susanne Posel

As America slips into monetary oblivion, some states are turning to the US Constitutional right and desiring to use alternative currencies – preparing for the hyper-inflation that Bernanke is currently creating.

Minnesota, Tennessee, Iowa, South Carolina and Georgia are awaiting approval from their respective governments to create a separate currency.

This number is up from 2011, when just 3 states were brave enough to attempt this constitutional right.

“In the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System … the State’s governmental finances and private economy will be thrown into chaos,” said North Carolina Republican Representative Glen Bradley. He introduced a new currency bill in 2011.

These states are planning on issuing gold or silver coins as tender “in payments of debts” as allotted them in the US Constitution. Law makers are becoming at ease with this proposal as the worth of the US dollar is further lessened by the actions of the Federal Reserve, and the prices of precious metals like gold and silver soar higher.

In Utah, Governor Gary Herbert signed a bill introducing an alternative currency in March of 2011. This bill recognized gold and silver coins issued by the US Mint as legal tender.

“A Utah citizen, for example, could contract with another to sell his car for 10 one-ounce gold coins (approximately $17,000), or an independent contractor could arrange to be compensated in gold coins,” said Rich Danker, a project director at the American Principles Project, a conservative public policy group in Washington, D.C.

Mike Pitts, Republican for South Carolina introduced a currency proposal of which any gold or silver coin could be used as payment for debts based on its weight and size. Pitts and 12 other so-sponsors believe that this move will protect their state from “an economic crisis of severe magnitude.”

Washington State, Iowa, Minnesota, Georgia and Idaho have followed suit and are basing their legal tender values on metal standards as reflected on the market.

2 comments to Silver and Gold?

  1. says:

    CLY It is like going back to the Wild Wild West. We would need a saddlebag of coins to buy a car or house. How about petty purchase? Can we bite of a piece of the coin to pay for a burger? Rich men would have to wear a belt to keep their trouser from falling off. Ladies would have to carry roller handbag for the coins. It is not practical.

  1. says:

    cin2tan Silver threads & golden needles can mend our hearts !!

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