Thursday, April 21, 2011

Utah's Gold Standard!

On March 25, 2011, Utah Governor R Herbert signed the Utah Legal Tender Act which is theoretically a step to re-establishing our ability to trade gold and silver coins as legal tender.

It doesn't really do that as state and federal tax laws makes using silver coins at the value of the silver extremely difficult.

The law appears to allow people to trade old gold and silver coins at the face value of the coin. So I could trade a silver dollar that contains over $36 in silver as a dollar.

The fact that the law doesn't seem to actually do anything doesn't matter to me. I decided to use the new law as an opportunity to blog and neither laws nor reality seem to impede people in exercising their God given right to blog.

Afterall, a global discussion about the differences between silver coins and fiat money might awaken people to the damage our leaders have done to our nation during this progressive era.

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