Friday, March 4, 2011

Utah Considers Return to Gold, Silver Coins

Utah is the 14th State to introduce sound money legislation like the Constitutional Tender Act this year. Next week, Idaho is set to become the 15th. "First they ignore you, then they laugh at you, then they attack you, then you win."
It's been nearly 80 years since the U.S. stopped using gold coins as legal currency, and nearly 40 since the world abandoned the gold standard, but the precious metal could be making a comeback in the United States -- beginning in Utah.

The Utah House was to vote as early as Thursday on legislation that would recognize gold and silver coins issued by the federal government as legal currency in the state. The coins would not replace the current paper currency but would be used and accepted voluntarily as an alternative.

The legislation, which has 12 co-sponsors, would let Utahans pay their taxes with gold and also calls for a committee to study alternative currencies for the state. It would also exempt the sale of gold from the state capital gains tax.

The bill cleared a state legislative committee on Wednesday, the first of 11 similar bills in statehouses across the country to do so. If the bill clears the House, it would have to pass the Senate before the governor could sign it into law.

READ THE REST OF THE ARTICLE HERE...

View the bill here.
Citizens of Utah: Contact your State Representative here.

Every American citizen TODAY needs to contact the Leaders of the Utah House of Representatives and ask them to support this bill -- CLICK HERE to take action NOW!
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3 comments:

  1. Mark HerpelMarch 4, 2011 at 8:16 AM

    This is a surprisingly good article to be found on Fox. I'm impressed.

    ReplyDelete
  2. ConstitutionalTenderMarch 4, 2011 at 8:33 AM

    Here's my prob with Utah's bill: it declares something to be legal tender that ALREADY IS. That's not the point of what we need; we need States to declare that legal tender gold and silver coins are the ONLY currency that can be used by the States. Pending that, we should push for making it legal to pay taxes & fees in gold & silver AT MARKET VALUE, not at face value. - BG

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  3. ivanleoMarch 25, 2011 at 11:54 AM

    The US constitution says no state make any thing other than gold or silver legal tender, but the same article of the constitution says no state shall coin money. And as there are no US gold and silver coins that have a face value equal or above their market value, there are no precious metal coins that can circulate as currency. So this law doesn't really do anything.

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