Silver and Gold Now Legal in Utah!
May 23rd, 2011If you recall we covered this hopeful story from the West back in March. Today we can now say that there is a state in this country that has authorized the use of competing currencies, specifically gold and silver. [And the crowd goes wild] Over 10 states have similar bills drafted, but Utah is paving the way.
Author of the alternative currency bill, Republican state Rep. Brad Galvez, was inspired by the dying dollar and equally inauspicious Federal Reserve. The Fed has consistently been pumping money out of thin air for it’s 3rd straight year to “prop up” the economy, and and make wealth of their own, one they can trust. Business owners will not be required to accept the alternative currency and the capitol gains tax will now be omitted for people who choose to take part in this alternative investment.
The growing popularity of owning gold and silver became a hot topic following the financial crisis of 2007-2008. Hedging against inflation with commodities has always been a high-profiled investor’s priority however nowadays you can ask the average Joe or Jane how they are protecting their savings during this volatile time and many will respond “with gold and silver.”
Some people are protesting the Utah legislation because of its anti-dollar roots, which they think may threaten the overall global stance the US has taken in the financial markets. Proponents of the gold and silver as tender law, state that this legislation actually helps the dollar by giving it a tangible support system to keep it alive through the coming years.
No matter what side of the argument you are on, one thing we can all agree upon is that we have ourselves the first state with real Rebel activity and we commend the state of Utah for such a bold move and hope more states follow in their foot steps. Do I smell a Rebel of the Week medal for the Beehive State?
