State OKs gold, silver as currency

[EZ_E]

MONEY DEMISE

State OKs gold, silver as currency

Will dollar face rejection soon?

 

The Utah Legislature passed a bill allowing gold and silver coins to be used as legal tender in the state last week according to the true value of the metal in the coins, the Washington Times reported.

 

The bill, H.B. 317, sponsored by Rep. Brad J. Galvez and Sen. Scott K. Jenkins, explains, "this bill recognizes gold and silver coins that are issued by the federal government as legal tender in the state and exempts the exchange of coins from certain types of state tax liabilities."

 

The only next step would be for Utah to coin its own gold- or silver-backed money as an alternative to the Federal Reserve notes issued by the Federal Reserve to be used as U.S. legal tender.

 

In recent years, more Americans are realizing that the Federal Reserve is a private bank, not part of the U.S. government that was created by the Federal Reserve Act of 1913.

 

The Federal Reserve continues to resist the call by Rep. Ron Paul, R-Texas, a long-time advocate of the gold standard, to conduct a full audit of the Federal Reserve that would force the private central bank to operate in a manner transparent to the American people.

 

Should Utah succeed with this bill, the United States may have the first coinage of state money since the colonial days preceding the Revolutionary War.

 

In 1764, the Bank of England banned the U.S. colonies from printing their own money – a decision that led to the American Revolution.

 

At a minimum, the move by the Utah Legislature puts pressure on the U.S. Treasury and the Federal Reserve to begin reconsidering whether the U.S. dollar should be backed by gold and silver, as the Constitution requires.

 

The move not only shows the growing distrust and lack of confidence the American people have in the ability and desire of the Obama administration to protect the dollar, but also the increasing pushback being seen on the state level from a wide range of Obama-initiated policies, starting with Obamacare.

 

Red Alert senses that a states rights movement under the Ninth and 10th Amendments is more alive today in the United States than it has been at any time since the Civil War.

 

Last week, WND reported that similar proposals have been developed in Colorado, Georgia, Indiana, Iowa, Missouri, Montana, New Hampshire, Oklahoma, South Carolina, Tennessee, Vermont and Washington.

 

While the Utah measure has yet to be signed by the governor, the question has been raised: With yet a third-in-a-row $1 trillion-plus Obama administration federal budget deficit, will states soon begin rejecting the dollar?

 

Communities printing own money

 

At the time of the publication of my book (Jerome Corsi's), "America for Sale, Fighting the New World Order, Surviving a Global Depression, and Preserving USA Sovereignty," there were more than 75 local currency systems being issued across America.

 

Typically, a group of businesses come up with the idea to print a new local currency which shoppers can then buy at a discount, such that $1 of the local currency is sold for 90 or 95 cents.

 

With names such as Detroit Cheer, Bay Back or BerkShare, the local currencies bear colorful designs of local scenes and are issued in common denominations, everywhere from a One Bay Back to a 20 BerkShare.

 

Moreover, printing local currencies turns out to be legal, much as when airlines issue bonus miles that function as a form of currency frequent fliers can use to purchase upgrades or free trips.

 

According to the BerkShare website, approximately $2 million of BerkShares are currently circulating in the Berkshires, a mountainous rural area of western Massachusetts, and a group of local banks exchange BerkShares, with 350 businesses signed up to accept the currency.

 

BerkShare's future plans include BerkShare checking accounts, electronic transfer of funds, ATM machines and even a loan program to stimulate the creation of local businesses, including, hopefully, a revival of manufacturing in the region.

 

BerkShares are typically kept in circulation to act as a multiplier in promoting local businesses instead of being cashed in at local banks, where BerkShares are discounted on deposit 10 percent from their stated face value.

 

The goal is for local communities to gain control of local currency.

 

There is a growing awareness in the United States that "We the People" need to gain sovereignty over the nation's money, just as there is a growing awareness among Americans of the need to support U.S. businesses and U.S.-made goods to preserve the U.S. middle class.

 

 

[physics-fan3.14]

Hey Victor, great to see you! Where you been?

[jackson64]

I have seen a few signs in store windows advertising that they accept silver and gold bullion as payment...even at one gas station..

[bsshog40]

I have seen a some things stating that they are proposing to get rid of the $1 bill again. Supposedly the only drawback to this is that the american people don't like to spend change very much. So what would be minted, $1 silver coins and Gold? Btw, good to hear from you again Vic!

[physics-fan3.14]

Question: do they accept them at face value, or at bullion value?

[mtnstyne]

How small would a silver dollar coin be by todays spot rates, like the size of the old silver 3 cent pieces?

[bsshog40]

I don't see how it could ever be feasible to make silver or gold coins for circulation. Precious metal prices are too high to be able to make any type coins that could be used for everyday spending. So I really don't see how this could feasibly be done.

[EZ_E]

Question: do they accept them at face value, or at bullion value?

 

It would be accepted at spot price.

 

Howdy, boardsters. Yeah, I know that I've been AWOL for a long time. I am still collecting and working on my classic commem circulated type set (I lack the Hudson, Cincinnati and Lynchburg) and am keeping my modern dollar commem set up to date. I ordered this years proof and uncirculated coins but I still need to buy last year's coins. (If anyone has last year's 4 coins at a fair price then I'll buy them from you)

 

But, collecting is in my blood and I've been collecting license plates more and more these past three years. I don't have to play the grading game with the TPGS with them anyway. That is one of the reasons besides financial that I gave up and sold my type set. I was too disgusted with them, especially PCGS. I have a MS63 20C that I got from Mark that was a decent coin, albeit not a WoW, in your face coin. On multiple submissions it came back 62, 61, 55 and finally 62 again.

Anyway, life is good, darn good for me. I bought a nice house last year that's bought and paid for here in Vegas, finally landed a fulltime CT/MRI job (it's a whole different market out there anymore. I spent 8 years traveling the country because of the tech shortage. No more.) My wife is incredible. Sadly, Caleb, my St. Bernard died last August just shy of 12 years old. We have EZ, a 6 month old English Mastiff now.

Hey, Jason. How's the Nuclear Power School job going? You have any classified info to sell? My Chinese wife wanted to know. hehe

Bobby and I keep in touch via email and I still talk to Chris M. and NY Mike on the phone at times. All you others.......HOWDY!

 

p.s. Nellis Air Force Base Landing Strip is directly behind my house. The jet noise is no biggy except when they test the jet engines. Not so cool!

[jesbroken]

Welcome back, Vic. Good to see you posting again.

Jim

[RockMyAmadeus]

What happens when a state imagines it can coin its own money, in contravention of Article 1, Section 8 US Constitution?

[jtryka]

Hey there Victor! Nice house you got there, the mountains around Vegas are so pretty, though your trees need some work!

[michael]

Hey Victor, great to see you! Where you been?

 

(thumbs u long time no see! good to have you back

 

is the mastiff puppy finally getting big?? post a photo please!!!! )

 

 

 

well impractical to do and you would be nuts to pay in silver or gold and just pay in currency, charge card, debit and checks

 

i guess time will tell

 

 

 

 

 

[michael]

if i had a store in nevada i would take french fries and/or onion rings in payment

)

[coinman_23885]

What happens when a state imagines it can coin its own money, in contravention of Article 1, Section 8 US Constitution?

 

While I agree that any state plan to coin money would be unconstitutional, it wouldn't be because of Article I, Section VIII. Article I, Section VIII merely outlines the powers of Congress and it is possible for both the several states and Congress to exert concurrent power; however, when the laws conflict, the federal law prevails in accordance with the Supremacy Clause of Article VI. The state prohibition comes from Article I, Section X which prohibits any state from "coin[ing] money."

[EZ_E]

is the mastiff puppy finally getting big?? post a photo please!!!! )

 

(thumbs u

[EZ_E]

And this post is not complete without a pic of YunYun, my joy!

[EZ_E]

Hey there Victor! Nice house you got there, the mountains around Vegas are so pretty, though your trees need some work!

 

Hey, Jeff. How's life? And, yeah, I just planted the apple and cherry trees last fall. Sure hope they take off this spring!!

[cpm9ball]

I didn't see any of the license plates I sent you in those photos. What did you do - sell them because they were so valuable?

 

Chris

[Schatzy]

I didn't see any of the license plates I sent you in those photos. What did you do - sell them because they were so valuable?

 

Chris

Chris......he keeps those in his bedroom!!

[jtryka]

Hey there Victor! Nice house you got there, the mountains around Vegas are so pretty, though your trees need some work!

 

Hey, Jeff. How's life? And, yeah, I just planted the apple and cherry trees last fall. Sure hope they take off this spring!!

 

Things are going well, though not as good as you got it! Beautiful wife and puppy, what more can you ask?

[World Colonial]

I don't see how it could ever be feasible to make silver or gold coins for circulation. Precious metal prices are too high to be able to make any type coins that could be used for everyday spending. So I really don't see how this could feasibly be done.

 

If you are familiar with GoldMoney.com run by James Turk, he already has a viable option. The account holders do not actually carry gold with them, they have accounts which they use to make payment electronically. This is different but it can work as long as the users have confidence with the safeguards in the system.

[cpm9ball]

I didn't see any of the license plates I sent you in those photos. What did you do - sell them because they were so valuable?

 

Chris

Chris......he keeps those in his bedroom!!

 

None of them, either!

 

They're probably mounted over the garbage cans.

 

Chris

[michael]

wow victor that mastiff puppy is getting BIG!!

 

and looks like a cutie too (thumbs u

[EZ_E]

Actually, Choogy-baby, I separated some of the over the weekend, slotted for mounting. I mounted about 60 of the last weekend which entails drilling 240 holes into the concrete block. I have to go to work now but I'll take some pics later. On one wall, I'm sorting them according to color and will make a southwest design. (I have every plate that you sent to me, including your dad's POW plate. I want to give that plate a position of honor if I can.) Gotta go, boardsters. Later.

[cpm9ball]

Actually, Choogy-baby, I separated some of the over the weekend, slotted for mounting. I mounted about 60 of the last weekend which entails drilling 240 holes into the concrete block. I have to go to work now but I'll take some pics later. On one wall, I'm sorting them according to color and will make a southwest design. (I have every plate that you sent to me, including your dad's POW plate. I want to give that plate a position of honor if I can.) Gotta go, boardsters. Later.

 

Yeah, the patio really does look nice. You did a good job. I can see that you really put some thought into the layout which is sort of unusual for someone who stuffs things into a big hole for a living.

 

Chris

[Jeffrey Cardona]

I am not really up on how this works..but lets say Utah mints gold and silver coins for currency at todays prices and the market goes down...lets say by half. What happens then? Can state treasuries handle that kind of loss?

[PerryHall]

I am not really up on how this works..but lets say Utah mints gold and silver coins for currency at todays prices and the market goes down...lets say by half. What happens then? Can state treasuries handle that kind of loss?

 

I'm sure these coins will have a nominal denomination similar to the ASE ($1) and the AGE ($50) and will primarily trade for their bullion value.

[just-john]

Think I heard on the TV that S.C.is going to do the same thing .

[Oldtrader3]

Utah always has gone their own way on many things. I lived there for 18 years and never could quite get used to it. I wish them luck with their own currency, given the fact that Utah is often regarded as the scam capital of the west. How many fake Morman gold $5 coins have they minted in the past 170 years?

 

Nice pictures, Victor. I did not know that you collected circulated commemorative halfs? Learn something new everyday. That puppy is getting big!

 

[Keigwin]

I think the thrust of these initiatives has less to do with States minting their own bullion coins (a possibility but a long shot) and more to do with allowing people to spend US silver and gold coins based on bullion, not face value.

 

A couple of beat up Morgans will buy you a tank of gas, let's say.

Lance.