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Earlier this month, Minnesota took a step closer to joining Utah in making gold and silver legal tender. A Republican lawmaker there introduced a bill that sets up a special committee to explore the option. North Carolina, Idaho and at least nine other states also have similar bills drafted.
Raw Utah Gold story
"We're too far down the road to go back to the gold standard," Galvez told the AP. "This will move us toward an alternative currency."
Too far?
The Constitution is very specific about what our government can and cannot issue as coins and currency. It states what the Federal Government do as far supplying money as well as the States. It specifically says nothing but gold and silver coinage shall be used as payment for debt. That means not only are States allowed to issue gold and silver money for payments, it is the only thing it can issue and accept. This makes not current Dollar not only worthless as it is back up by nothing, it makes it unconstitutional.
No results on Minnesota on a Google Search at this time:
Minnesota gold currency law
North Carolina
Idaho
Then there is the hard-money plank, which might have come right out of a Goldline ad on talk radio: "We believe Idahoans need to protect their savings from the ravages of inflation, which is hidden taxation, and encourage citizens to participate in a systematic acquisition of precious metals which represent real value as opposed to paper currencies."
Why it matters.
Although to some it may seem extreme, we do need to prepare for the possibility that there may come a day that the dollar’s buying power will be drastically reduced. And the truth is, Utah is not alone in their concern. According to State Representative Galvez, House sponsor of the bill, 11 states have either passed currency related legislation or have legislation in process. Other states passing or considering currency related legislation include: Montana, Missouri, Colorado, Idaho, Indiana, Missouri, Montana, New Hampshire, South Carolina, Tennessee, Vermont, Virginia, Washington…
For those who do not believe that the U.S. dollar may be in trouble, please consider the following: according to The China Daily, China and Russia have used a number of currencies in the past, but especially U S Dollars for “bilateral trades”. However according to a report in The China Daily in November 2010, “China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade”. The formal announcement was made by Premier Wen Jiabao and Russian Vladimir Putin.