Utah Legalizes REAL Money

Utah is about to sign in legislation that would legalize Gold and Silver as REAL money. This a direct shot across the bow of the Elite and is a huge step in the right direction for citizens and states to protect their sovereignty in the face of a mathematically certain dollar collapse. By encouraging citizens to start using Gold and Silver as money, it will not only spur economic growth because this money does not have the drag of interest on it, it will also encourage more Gold and Silver to enter the state. Money goes where it is appreciated.

This is NOT a gold standard or a bi-metallic standard which would be restrictive, merely competition in money. Nine other states have pending legislation like this. I believe that we will see much more of this as this financial crisis comes to a head and states clamor for alternatives. Ironically one of those states is North Carolina who recently convicted the “domestic terrorist” Bernard von Nothaus of his own competition of Gold and Silver currency.

I will be doing a call with David Morgan who was invited to the signing of this historic legislation sometime next week to see if we can get some more info about this. In the meantime, I will be watching this type of legislation to see where I will be setting up shop in the future. Ultimately we would need a Federal bill similar to Utah’s to take the capital gains and collectible taxes off of gold and silver. We can then maybe push for free coinage acts where we can bring in our bars of silver for the mint to make real coins out of it. If we get really crazy we can end the Fed and forever outlaw fractional reserve banking. Dare to dream…

12 comments to Utah Legalizes REAL Money

  • HungryGhost

    A very good move! One question however, why would you use your metals as money if they are still accepting the paper fiat trash? I wouldn’t use an ounce of mine until I had to or it paid to.

    • Silver Shield

      Not while the FRN is still accepted…
      But it would be nice to pay my property taxes with and couple ounces of $500 silver…

  • Ag_nostic

    So let me get this straight…
    I can take a handful of ASE’s to Utah and buy a new car???
    do they pay spot??? Any premium on those coins???

  • Ragnar

    Can you tell me the other states considering this legislation?

  • silverdoc

    Initially it would appear that smart way to play it in Utah would be to keep your savings in silver bullion, and continue to use FRN’s for daily commerce. Your fiat converted to silver would continue to appreciate in value, and could be used for a “rainy day” or economic meltdown period if/when it occurs.
    If for now they will only allow ASE’s as silver’s representative in the market, the user will be ating the $5 or $6 premium they pay for each ounce, and change for transactions would have to be paid in fiat.

    So if silver is at $37.00 dollars, why would I pay for $37.00 dollars worth of product, shen it cost me $43.00 for the ASE? I wouldn’t.

    But there are ways to make the move economically Feasable.

    If we are able to use gold and silver as money, then I would set up a bullion bank which would act as a centralized depository and warehouse of physical silver. Depositors would be issued a debit type card for transactions. Electronic silver would then be used to purchase items based on the amount of physical metal a account holder has in his/her account, and based on spot metal value at the time of the transaction. The seller could link up to silver value/dollar conversion(or any currency)via a site like this:
    http://www.silverandgoldaremoney.com

    This is just an example of what could be implemented to make silver and gold viable in today’s marketplace, without having to eat the cost of the premium and the time of usage. Its all do able, people just have to get involved and spread the word to make part of the mainstream thinking rather than back room discussion.

    Afterall, the only thing necessary for the triumph of evil is for good people to do nothing. And nothing is not what we’re all about around here is it. So tell a friend, get involved, make it happen…silver rocks!

  • PitBull Pappa

    I’m curious to know how pre-65′ coinage will play it’s role in this since I have $10.00 face value in half dollars and quarters and $5.00 face value in dimes.

    keep stack’n… hold strong & go long…

    PBP

  • silverdoc

    Other states considering this legislation:
    • Virginia House Joint Resolution 557
    • Georgia Constitutional Tender Act
    • Ohio Honest Money Project
    • Idaho Silver Gem Act, Bill No. 633
    • South Carolina House Bill No. 4501
    • Missouri House Bill No. 561
    • Washington House Joint Memorial 4010
    • Colorado Honest Money Act (HB09-1206)
    • Indiana Senate Bill No. 453
    • Montana House Bill No. 639
    • New Hampshire Gold Money Bill 1. 1.

  • Silver Shield

    Good job!

  • Ragnar

    thank you doc

  • Phil

    What would happen if Utah’s legalization only meant that the face value of the gold and silver is recognized and not the present market value? Wouldn’t that be another sneaky attempt to confiscate PMs?

    • Silver Shield

      That would be assuming that people would be foolish enough to part with their money at face value.

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