The Utah House of Representatives has approved a bill that allowing gold and silver coins to be used as currency… Rep. Brad Galvez (R) explained: “This is a step in preparedness, a step in security that allows us to be able to help hold up our economy as the dollar continues to shrink.”
via Utah House Approves Gold And Silver As Legal Tender | TPMDC.
I love it. Start stockpiling canned food, gold, and guns, and keep your fingers crossed for the red neck apocalypse! Do Republican policy makers seriously think that gold is a viable alternative to a functional currency, or that there would be anything left to buy if it was? Who are they afraid of – the Chinese Han army? Or those crafty Japanese leaders who have been fooling the world?
{ 6 comments… read them below or add one }
No they are afraid of their own Federal government that is debasing the functioning currency at an alarming rate. Why do you think the commodities are all going up together. Did they all get scarce at once or is the dollar loosing value?
Wow, Edwards, your posting is really stupid. The Utah legislature’s bill is nothing more than a symbolic statement. All the law makers there know three things:
1 – That the state doesn’t have the constitutional authority to issue currencyand even if it tried such a state issued fiat currency would not be accepted by the people of Utah and meaningless.
2 – Gold and silver (whether [] like you like it or not are and always have been) accepted ass having universal value.
3 – People can at this time or anytime in the future use them as a means of currency if they choose. If I am selling someone an old used junker car and he offers to give me two gold rings and a silver pendant for it I can do so if I please. I’ll write $500, $2, $150 million who cares? on a bill of sale so the fiat currencey weasels (like yourself) won’t wet their pants and the deal is done. If does not want to give me two gold rings and a silver pendant buth rather wants to give me $500 in twenties I can tell him to get lost. (Like I’m now telling you).
Hip, cool, urban sophisticates like Edwards don’t stockpile food against hard times. They eat out at charming out-of-the-way bistros with quaint and cozy atomosphere.
Well John, you’ve reinforced my point. Of course its a symbolic gesture. I would suggest that the states carrying on about gold & silver instead dedicate their policy-maker’s attention to state budgets, jobs, poverty, obesity, and education, not ridiculous posturing and sabre rattling at the Federal Government.
Kevin, thanks for a cogent comment; I can think of more effective ways of communicating their dissatisfaction than spurious policy though.
The People’s Bank of China (PBOC), the central bank, announced today that it will issue more gold and silver commemorative coins featuring the giant pandas to meet soaring demands for precious metals!
I think it should not be a good idea as it will increase cost of gold and silver wit no extra benefit.Also use of currency will decrease itsweight thus finally decrease its cost finally