Wednesday, March 10, 2010

Local Idaho News Reports on Their Constitutional Tender Act

Well, it's more like a hit piece, or at least trying to make fun of what they don't understand... but right now, just about anything is progress!
View the bill here.
Contact your Idaho State Representative here.

Back To The Gold Standard
Posted: March 9, 2010 11:35 PM
Updated: March 10, 2010 12:15 AM
By Emma Jade, Local News 8 Reporter

BONNEVILLE CO. - Silver and gold - not many of us have much of it lying around, but imagine exchanging a gold piece for a bag of groceries. It's not as ridiculous as it sounds. There is a new bill being discussed in the State House of Representatives that would legitimize trading gold for merchandise. An interesting idea - what do local people think?

"Here is some Horizon Organic Milk for about six dollars," said Broulim's Store Manager, Lee Jephson. "If a person would come in and give me a silver piece and expected me to value the coin and get the value out of this and give them change back, it would be hard and would we be fair? Would we know what to do and how to do it?"

The cash in your wallet, those credit cards you have stacked-up, could be joined by bits of gold and silver.

"I mean I have a wallet but I don't want to put gold and silver in there," said local shopper, Annette Call. "If somebody would see it they'd take it from me."

It sounds a little off...

"It seems very strange. I don't see how it would make sense with the advances we've made to this point," said Idaho Mountain Trading Manager, Cindy Croft. "It'd be like going backwards."

But a bill being discussed in the Idaho Legislature is trying to make it a reality.

Let's say you owned two American Eagle one ounce silver coins. If the bill passed, you could take the coins to an exchange to open an account. The account could transfer the worth of those coins to a business or even a debit card.

The bill even takes it one step further saying businesses could advertise their products in ounces of silver or gold.

"I'm not sure where silver is but bring in your silverware and maybe we can trade you for a boot," joked Idaho Mountain Trading Manager, Richard Napier.

"First thing that went through my mind is it would be like we'd all become pawn shops," added Croft.

Many shoppers agree...

"I laughed - I said 'yeah, that's ridiculous,'" said Call.

"A little piece of plastic is a lot easier," said shopper, James McBride.

The bill is only a week old. Those on the Ways and Means Committee say it's a way of spending something of actual worth and not just a Federal Reserve Note.

However, local businesses and shoppers think it's just too much of a hassle.

You can voice your opinion about House Bill 622 by contacting your Idaho Legislators. For their contact information, visit:

This Act would not interfere with our dollars and cents in place now. Instead, it would encourage private persons and businesses to create a voluntary private money system based on gold and silver.

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