Friday, June 10, 2011

Utah Sound Money Bill Rocks World

I TOLD GEORGIA LEGISLATORS THAT THIS WOULD HAPPEN IF THEY DIDN'T PASS OUR BILL FIRST! "Issac Jacobson, a fund manager, says that based on conversations he has had with other fund managers, he expects billions of dollars to come into Utah to take advantage of the new law. He explains that funds will store their assets in Utah and believes that over time, the average Utahan will see a financial benefit from these billions of dollars being located and managed within the state."

Utah Sound Money Bill Rocks World
By: Carlton Bowen
Featured Liberty News Radio Columnist
Salt Lake City, Utah. June 2, 2011

Today Utah Governor Gary Herbert signed the Utah Legal Tender Act of 2011 (HB 317) in the Gold Room of the Utah State Capitol in a formal signing ceremony. In a room full of cameras, reporters, fund managers, businessmen, and prominent legislators, HB317 sponsor Brad Galvez, a Utah House Freshman, took to the podium and explained the effect of the bill. Representative Galvez recalled that when the bill was first passed in March, the local media took very little notice. There were a few stories he says, and that was about it. But the rest of the world took note. Galvez mentioned being contacted by reporters from around the world and listed media coverage in New York, London, Germany, other parts of Europe, Asia, Australia, and other parts of the world. Galvez says the legislation is historic...

The formal signing ceremony demonstrated commitment from Utah's highest levels of government to the bill. Utah Governor Gary Herbert said he and the legislature sometimes disagree, but that this was an issue they both agreed was important for Utahans. Before signing the bill, the Governor noted that Utah had been recognized as one of the best managed states, the most financially sound state, and one of the best states to live in. He said that was because of the fiscally conservative principles he and the legislature shared and because of the culture of the people of Utah. Governor Herbert then proceeded with the formal signing of the bill, reviewing publicly what the bill did, saying that it recognized Gold and Silver coins issued by the U.S. government as legal tender in the State of Utah, and removed taxes, including capital gains, sales and income taxes, on the coins. He then signed the bill. Even though the bill was previously signed by the governor and went into effect on May 10th, 2011, the formal signing ceremony today highlighted the importance of the bill and the State's commitment to its continued implementation...

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