States Should Restore Gold and Silver as Legal Tender before the Monetary Crisis Arrives
adUnit = document.getElementById("google-ads-OQJ8");
google_ad_client = "ca-pub-1897954795849722";
adUnit = document.getElementById("google-ads-OQJ8");
adWidth = adUnit.offsetWidth;
if ( adWidth >= 999999 ) {
/* GETTING THE FIRST IF OUT OF THE WAY */
} else {
google_ad_slot = "0";
adUnit.style.display = "none";
}
By JP Cortez
States Shouldn’t Wait for a Monetary Crisis to Devastate Their People and Economies
The Constitution for the United States of America is not merely a set of suggestions. So when the Constitution says, in Article I Section 10, “No state shall make any Thing but gold and silver Coin a Tender in Payment of Debts,” it means exactly that.
Recognizing that the departure from gold and silver backing to our money has led to crushing debt and great financial instability, a few freedom-minded state legislatures have begun to consider how to defend themselves and their citizens. In particular, Utah has charted a path towards a widespread acceptance of gold and silver, declaring any gold and silver coins issued by the U.S. government as legal tender in the state — and free from any taxation.
Even though laws such as Utah’s are just a small step in the right direction, they serve an important purpose because they encourage greater use of gold and silver as circulating media of exchange. And such measures start a conversation with the public about the useful role that gold and silver can play in protecting one’s purchasing power, while hedging against the abuses of Washington politicians and Wall Street bankers.
Utah has a modest population of almost 3 million. However, Oklahoma followed with its legal tender law, bringing the total people impacted to almost 7 million. The more people are exposed to gold and silver, the more they are likely to recognize their superiority as media of exchange and stores of value.
Gold & Silver Are Money
Another benefit of passage of laws like those in Utah and Oklahoma is that they dispense with the notion that gold and silver are merely investments or speculations.
Gains on investments, more times than not, are taxed in one way or another. But gold and silver are “money” and imposing a tax on the exchanging of one form of money for another is both ludicrous and unjust.
googletag.cmd.push(function() { googletag.display('div-gpt-ad-1470694951173-5'); });
(deployads = window.deployads || ).push({});