Sunday, March 6, 2011

Utah Now A Step Closer Making Gold and Silver Legal Tender

            The State House in Utah passed a bill making gold and silver legal tender. The bill passed overwhelmingly and now move to the Senate for a vote next week. Will this be a domino effect were states will start passing laws making gold and silver legal tender. The State of Virginia has been looking into alternative currencies as well as the great state of Montana is. One of the main reasons the US economy is in the tank is because the debasing of the US dollar by the Federal Reserve Bank. The US congress has ceded its constitutional function to coin money and determine the value thereof to a privately owned central bank.
               If states pass legislation making payments in silver and gold as the constitution mandates the only collapse will be the Federal Reserve notes and some the states might be able to avert the pain of a full blown economic implosion. If states like Texas follow Utah. Having a sound currency might be a step towered  independence and real state sovereignty.If states have their own currency. The Federal government can not threaten to withhold highway funds like they did in the past. States will be able to sustain themselves and maintain there own infrastructure.If this happens.We can see the Federal Reserve Note will print there way into extinction because the debt note will become irrelevant because it can not compete with real wealth like gold and silver.

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