Utah Legislature goes for gold, silver as currency options

Utah Legislature goes for gold, silver as currency options
Seen as hegde against dollar slide
By Stephen Dinan-The Washington TimesUpdated: 9:38 a.m. on Friday, March 11, 201

The Utah Legislature on Thursday passed a bill allowing gold and silver coins to be used as legal tender in the state ? and for the value of their precious metal, not just the face value of the coins.

State backers said they hope the move will help insulate Utah from a potential monetary slide as countries question the value of the dollar. Others, casting their eye nationwide, said it could spur a broader move by Congress or states to readopt a gold standard.

?Utah, if the governor signs this particularly, they?re going to change the national debate on monetary policy and get us back to basics,? said Jeffrey Bell, policy director for Washington-based American Principles in Action. Mr. Bell has been in Utah to help shepherd the legislation through.....


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zul, toleary, and the rest of you Utah residents, we may be coming to join you guys.   Sounds like some sensible thinking to me.

BA





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		Quote:			Posted by zul32
	Very good news! However this means the creation of new gold & silver coins to make trading easy for retailers! Next is the difficult thing of accepting legitimate silver (lets say) as currency... this is a problem because I've read/seen videos of fake silver rounds that are produced. They weigh in at around 26 grams, when a true troy oz is 31.1 oz! To the naked eye, it looks and feels just like the real McCoy. Since there's so many different silver out there - I wonder what they'd do? Maybe they'd have a silver government 'market' where you could bring in your rounds and exchange them for minted US currency silver coins? Hmmmm.

Gee, makes you wonder how the heck they  managed it in the old days, doesn't it?


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