Wednesday, April 6, 2011

Utah Approves Gold!

“The gold standard would keep you from printing money and destroying the middle class,” said Republican Congressman Ron Paul

From Eric Dondero:

Utah Governor Gary Herbert has just officially signed a Bill to completely legalize gold and silver as legal tender in the State. The Bill was originally proposed by libertarian Republican state legislator Rep. Brad Galvez.

From FutureofCapitalism blog:
Utah has become the first state to pass a law exempting gold and silver coins from the state's capital gains tax and requiring the state to recognize gold and silver coins as legal tender, the Deseret News reports. The governor signed the bill into law on March 25. The text of the bill is here. It also orders a study of "the possibility of establishing an alternative form of legal tender for the payment of debts, public charges, taxes, and dues within the state."
Further, American Principles Project reports that similar bills are currently pending in other states:
"Utah is the first state to move toward recognizing gold and silver as money. Ten other states have proposed similar bills, but none have been voted out of committee."
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