AZ House Passes Bill to Make Gold, Silver Legal Tender
April 11th, 2013
All across the US, state legislatures are taking up measures that challenge the authority of the Federal Reserve system. Utah, for example, passed a bill making gold and silver legal tender in 2012. Other legislatures are still weighing similar bills, demonstrating that voters no longer trust fiat currencies. As the Federal Reserve gambles the US economy on a risky and experimental tactic called quantitative easing, state legislatures are looking for a way out of the shell game before the dollar system itself collapses.
Arizona joined those fighting for sound money this week when its state legislature passed a similar bill making gold and silver legal tender. The price of gold has risen almost exponentially against the dollar over the past decade as Federal Reserve policies have driven gas, food, housing, education, and healthcare prices through the roof during a period of decline in real wages and jobs. In related news, Silver Circle debuts in Tempe, Arizona tonight, giving sound money advocates in the state a place to celebrate their recent victory. Let’s talk monetary policy after the jump.
Gold, Silver Become Money in Absence of Fees
Arizona’s house bill would make gold and silver a de facto currency by removing taxes on gold ownership. A commodity can be used as a currency when there are no special transaction fees associated with its transfer. In Utah, the plan is to allow associations between debit cards and gold-backed accounts as an alternative to paper money.
On the federal level, a free banking or competition in currency bill could unleash this type of currency competition nationwide without significantly harming those who use the current Federal Reserve system. In fact, allowing competing currencies in the parallel might actually have a deflationary effect that strengthens the dollar.
Arizona Sound Money Advocates Meet to Celebrate at Silver Circle‘s Tempe, AZ Premiere
A great victory on behalf of sound money and freedom deserves a glorious celebration. Tonight, Silver Circle brings its message of sound money to Pollack Tempe Cinemas in Tempe, Arizona. The fun begins at 7 PM. Those who are interested in attending are encouraged to check out the for the event. Local hard money fans will be pleased to know that FreedomsPhoenix.com and Liberty Coin and Precious Metals are sponsoring the premiere.
When work first began on Silver Circle, few could have imagined that state legislatures would one day pass bills making gold and silver legal tender. 13 US states are considering these types of measures now. While it’s true that the economy still struggles with the effects of a debt-based, fiat system, the rising support for sound money is an encouraging sign.
Let today be a day of celebration, for tomorrow there is more work to be done. Arizona sound money advocates, join us tonight in Tempe as we honor your work on behalf of an honest and fair economy that protects the buying power of the working poor.
Find out where you can see Silver Circle by checking our theater and special screening schedule on -->our event page -->.
