Utah legalizes gold and silver as currency!

Apparently Utah has issued a pre emprtive against The Federal Reserve by legalizing gold and silver coins as recognized currency!

www.huffingtonpost.com...

Go Salt Lake City!

reply to post by TheImmaculateD1


Gold coins have always been legal tender.

www.goldandsilverexchange.info...

Nevertheless, I am glad that people are starting to recognize that the paper in their wallets and purses is nothing compared to gold.

Originally posted by emaildogs
reply to post by TheImmaculateD1

 

Gold coins have always been legal tender.

www.goldandsilverexchange.info...

Nevertheless, I am glad that people are starting to recognize that the paper in their wallets and purses is nothing compared to gold.

The Federal Reserve sometime between 1950 - 1970 made gold coins illegal and only recently when the Presidential Dollar Series was launched that gold was re-recognized as currency.

reply to post by TheImmaculateD1


currency doesn't have to be legalized.... currency is whatever some one deems a reasonable form of payment......

Boo-yah.
'Bout damned time. Wonder which state will be next? Any takers on states that will definitely NOT do it?

So how does this work?
If I have some 20 dollar gold coins that weigh 1 troy ounce each and are 90% pure gold.
can I get 20 dollars or 1350 dollars worth of groceries with each one?

PEACE,
RK

Originally posted by Rigel Kent
So how does this work?
If I have some 20 dollar gold coins that weigh 1 troy ounce each and are 90% pure gold.
can I get 20 dollars or 1350 dollars worth of groceries with each one?

PEACE,
RK

Measured by the denomination cast onto the coin and not by weight.

Originally posted by GodofWar411
reply to post by TheImmaculateD1

 

currency doesn't have to be legalized.... currency is whatever some one deems a reasonable form of payment......

Yes it must in order for it to be recognized for all goods, debts and services.

reply to post by TheImmaculateD1


So this is not really a good thing at all, as any existing gold coins will be better sold by weight as scrap than spent at face value. I cannot see any sense in this at all, perhaps I am missing something

PEACE,
RK

reply to post by TheImmaculateD1


If I had those coins i would be melting them down and pouring my own gold bars.

oxy acet and some borax will do the trick.

Originally posted by Rigel Kent
reply to post by TheImmaculateD1

 

So this is not really a good thing at all, as any existing gold coins will be better sold by weight as scrap than spent at face value. I cannot see any sense in this at all, perhaps I am missing something

PEACE,
RK

RK,

This is a good thing because this move takes Federal Reserve private control out of the equation which is one of the long range goals of this plan.

Originally posted by guessing
reply to post by TheImmaculateD1

 

If I had those coins i would be melting them down and pouring my own gold bars.

oxy acet and some borax will do the trick.

That would be counterfieting which is illegal.

reply to post by TheImmaculateD1


did not know this.

but i must be able to buy some of these coins then?

reply to post by Rigel Kent


The gold coin's face value is whatever the government decides it to be, but the trade value is whatever the current gold price is. You'd have to be a fool to trade it in for face value, or Mark Dice trying to buy a taco with a gold coin, but it wasn't accepted.

Utah just became the first state in the country to legalize gold and silver coins as legal tender (currency). They are also going to exempt the sale of the coins from state capital gains as well.

It all started when Republican State Rep. Brad Galvez got fed up with the Federal Reserve’s monetary policy. Galvez believes that Americans are losing faith in the dollar. So he says if you’re mad about government debt … ditch your cash and use gold and silver coins instead.

While some argue that this would eventually return some faith to the dollar as it would be a road back to the gold standard … I say that it would actually hurt the dollar even more as dollars are being sold and gold and silver is being bought. Also, since gold is priced in dollars, the two tend to trade in opposing directions to one another over time.

So if Galvez’s dream comes true … then it gives Americans an alternative currency.

But Galvez isn’t alone. North Carolina and Idaho and at least nine other states considering doing what Utah has just done.

Now right now, no merchant is forced to accept these as legal tender for sales in the retail market place. So it could very well be that this is just more of a symbolic move at first that could turn into a very literal move as time progresses.

What do I think of all of this? I think the way the Fed and Treasury have undercut the dollar since the 1980s, that we deserve some alternative that isn’t going to be able to be “watered down.”

The decline of the dollar is pushing down the standard of living for many Americans. It’s one of the reasons why 44 million Americans are on food stamps right now. You see, as the dollar declines, the cost of everyday goods goes up.

So when you go to the grocery store or gas station, you feel the effect of the decline of the dollar even if you never go outside of the country and exchange your dollars for another currency. Therefore, you can “feel the heat” right at home and that’s what is hitting Americans right in their pocket books.

The poor and lower middle class are feeling “the pinch” the worst. But practically everyone is being affected one way or the other.

I believe that as gold continues to go up and the dollar goes down that investors will seek out other alternatives to the dollar.

I believe that will help currencies like the Chinese yuan, Singapore dollar and Aussie dollar over time.

Investors will gravitate towards the yuan because it is in the best position to be the next “world’s reserve currency” or at least one of the main picks in a basket of currencies.

As the power shift continues to flow from the West to the East, I believe that the strong fundamentals of Singapore will cause investors to buy more and more into their dollars.

Since the Aussie dollar tends to track gold prices over time, I believe that investors will pour money into the Aussie dollar and sell U.S. dollars at the same time. That will cause the Aussie dollar to rise over time as well.

Owning the Aussie dollar is like owning gold but getting the benefit of being able to earn daily interest. So that has great appeal to currency investors.

So whether gold and silver coins are ever accepted at Wal-Mart or a Total gas station, you can still see a strong trend away from the U.S. dollar and into other assets that have much stronger fundamentals. Gold is one of those alternatives as are these currencies mentioned above.

Therefore, whatever you do … make sure you are protecting your wealth by having some of your wealth invested in foreign currencies with superior fundamentals to that of the greenback. This way, all of your eggs aren’t just in the “dollar basket.”

Sean Hyman

reply to post by Surfrat


The greenback as we know it today is on it's way out because of how easily the greenback is manipulated and devalued anytime they get a bug up their tail and when at least 30 states are off of the greenback standard completely they could then use that and require that all debts, services be paid in either gold or silver currency and further refuse to do business with any state that still uses the greenback. They can also effectively ban the greenback for all debts personal and private.

When 30 states are off of the greenback they could then force the remaining 20 to abandon totally the greenback which would then effectively erase and dethrone the greenback as the currency and effectively erase the control of The Federal Reserve at the state level as when greater or at least 2/3 majorirty of the states back or support anything the Federal Government must back and endorse what those 2/3 are demanding.

If I were you, dump the foreign greenback standards as well as by doing that you effectively dethrone and strip them of their control internationally as well. This is a master tentacle of control they yeild over foreign nations as well and when enough nations see their greenbacks fall they will get on board with our plan and abandon the greenback altogether. This is one of those things that has immediate international consequences as well. I know that at least say, 50 nations are watching very closely at what we are doing and are awaiting on us to make their moves so that they know what they themselves can do to rid themselves of our respective and pesky vermin problem as well.

This is how a revolution that has international reprecussions is done without needing one shot fired, one person killed or one property blown to smithereens. They use and manipulate the greenback standard by charging insanely high interest rates that do nothing but keep nations in continued debt and creating problems with it. This is how we must win and we will continue to win. The end of private control over our destiny and fate is nearing it's end. The Federal Reserve's corporate owners recently dropped their stake and share in gold and dumped silver long ago meaning when the world is off of the greenback since they axed those holdings their control is effectively erased. Another plus is that once we totally dump and abandon the greenback any debt to them is instantly and immediately erased but any debt with any foreign nation will still remain and would still require payback.