Silver is being re-monetized

[kramerprammer]

http://www.youtube.com/watch?v=WCbrOzhwk...AAAAAAABAA
With Ben Bernanke himself admitting that the U.S debt is unsustainable the state of Utah thanks to Gov. Gary Herbert has signed a bill legalizing the use of gold and silver as a form of currency. Further legislation is in motion to advance the use of Silver and Gold as a competing currency with the US Dollar. It is great to see that Ron Paul's efforts are not in vain. His movement has not only shed light on millions of people nationally and internationally, but is also making a difference politically. The people are now one step closer to ending the fed and freeing themselves from the tyranny of our fraudelent banking establishment

[ColdWarWarriors]

How is the Utah Legal Tender act going to work? I thought it was illegal to run alternative currencies in the US since this is a direct assault on the dollar, didn't the last guy who tried this end up in jail for counterfieting?

[slow to learn]

(04-16-2012 06:35 AM)ColdWarWarriors Wrote:  How is the Utah Legal Tender act going to work? I thought it was illegal to run alternative currencies in the US since this is a direct assault on the dollar, didn't the last guy who tried this end up in jail for counterfieting?

Because there using legal tender or US coins if you noticed the silver dime in the video purchasing a knif!

[AmericanDogMan]

Silver and Gold are still legal tender according to the Constitution!!

Silver and Gold have always been money! Fed Reserve Notes are Currency!

[SonofYAHWEH]

I would not use silver just yet to buy anything, just b/c it is not at it's true price. nice to see it getting recognition finally though.

[kramerprammer]

I wonder how it works. The man in the video bought a pocket knife worth $4 with a silver dime. What change would the customer of received if the knife was $2? Very curious as to how this currency system will work.

[SilverTemplePilot]

I believe South Carolina recently enacted something similar in their state and a few more states have this on their 'to do list'. I think it's a little strange that they only recognize US issued silver (from what I gather). Silver should be universal - silver is silver is silver is silver. It shouldn't matter if it was minted in the US or China.

[Mark777]

(04-16-2012 09:50 AM)kramerprammer Wrote:  I wonder how it works. The man in the video bought a pocket knife worth $4 with a silver dime. What change would the customer of received if the knife was $2? Very curious as to how this currency system will work.

I wondered the same thing when I first heard about Utah legalizing gold and silver for payments for goods with no capital gains taxes. Makes one think to buy more American silver eagles and constitutional silver versus/instead of buying Canadian, Australian, etc., silver bullion coins.

Also, I've heard recently of other states moving in this direction and just did a quick google search and found this article stating that Idaho, Minnesota, North Carolina, South Carolina, and Georgia all may soon legalize gold and silver as legal tender. I don't know how old this article is so there may have been more developments since. I thought I read recently that Virginia was moving in this direction too but Virginia is not mentioned in this article.

This development in Utah is making me think about moving there because of the physical silver I have and no capital gains taxes on it!

I think these developments in the states mentioned in the article will also tend to enhance the destruction of the dollar along with what China, Russia, Iran, India, etc., are doing in making bilateral trades without using the dollar. Very interesting and scary times.

http://goldpriceperounce247.com/articles...-collapse/

[Mark777]

(04-16-2012 12:07 PM)SilverTemplePilot Wrote:  I believe South Carolina recently enacted something similar in their state and a few more states have this on their 'to do list'. I think it's a little strange that they only recognize US issued silver (from what I gather). Silver should be universal - silver is silver is silver is silver. It shouldn't matter if it was minted in the US or China.

I 100% agree with you on this but the states are probably trying not to go too far and have the Federal Reserve put up a huge stink about what they've already enacted. Sort of like dipping their toes in the water to test the reaction of the gooberment and fed reserve. Hopefully, ALL silver and gold bullion will be recognized as legal tender regardless of it's origin.

[abreik]

Silver makes for a good investment, but it doesn't need to be a medium of exchange. Removing the capital gains tax is a nice gesture but I don't expect trading in silver for day to day purchases to ever gain traction.