Utah Passes Currency Amendment Monetizing Gold & Silver

Utah Governor Gary Herbert has signed House Bill 157: A Currency Amendment re-monetizing gold and silver as currencies which will compete against the US dollar.

 After the bill was signed customers made purchases from gun and knife dealers using constitutional silver at the event.

Comments

  1. Another step in the right direction!

  2. Hopefully we’ll see others doing this now.

  3. Here is an idea I’ve mentioned in passing.  It’s not designed to make a profit  but you might be able to try this yourself.

    Over the last few months I’ve been paying  some of the people who do work for me,  like my computer guru, handyman and and couple of others in silver.  Using silver rounds have cost about $33 an oz with Silver Doctor and, prior to that other silver sellers   I give a value of $35 an ounce to be fair and take care of replacement rounds.  This  makes it possible to to spread the good word about silver and use real money instead of paper lettuce while testing to see how well this works if it should become necessary to use silver as a means to pay for goods or services.  It’s not economical in and of itself since I have to replace the phyzz.  The market could go against me so I don’t do it as a general rule.  The local supermarket is not a player but my MD is open to this. It appeals to the recipients since this means of payment is off the grid and that’s nothing but good news.

      Going pretty much all in for silver has depleted my usual stack of FIAT so this also allows me to dip into reserves if I need to.   OPSEC is important so I sound out the people I pay so they don’t think I am a target. 

    Utah has my vote for creating a new reserve currency.  This is nothing but good news.  Will they take silver or gold for payment of their taxes?  Who knows, I might ever renounce my heathenism and become a Mormon.  lol

     

  4. No if we can just get the rest of the states to do the same. 

    Utah is becoming my favorite state.

  5. This is great news.  It means that the message is getting out there.  When the crisis escalates silver eagles will be very useful in barter.  

  6. Funny you should mention that AGXIIK. Last week a friend of mine had an air compressor hose reel he wanted to sell. I offered him $31.50 on purpose (SPOT) or 1 OZ. Silver. The prior week he kept telling me the paper was worth more than silver. I placed a silver dollar and a paper dollar on the table and asked which is worth more? He said the silver dollar but only because it was old. He’s been thinking every since. Last week when I offered him the cash or a silver Libertad he hesitated, then chose the one ounce Liber. I said “but it’s not old”. He told me his old man sat him down and explained real deal. Another one who’s eyes have been opened. He’s now scanning the DOC’s site. By the way, South Carolina is the next in line behind Utah. Matter of time folks.

    P.S. I really hated to lose an ounce but maybe he’ll start buying and help us all.
  7. This is history in the making, and only time will tell what becomes of the passage of this bill in the State of Utah.  But history and time are on the side of silver and gold as money.

  8. In January my vehicle went on the fritz.  Some #%& electronic sensor crapped out, I wasn’t able to diagnose the problem so I had a mechanic fix it.  He charged me $120, so I offered him three Silver dollars.

    He turned this down, but at least he did take the cash ‘under the table.’  A few weeks later I ran into him at the gas station in town.  He asked if I still had those silver dollars and looked disappointed when I told him they were gone.

    Dumbass should’ve taken them when I’d offered them to him!

  9. Nice stories! These guys may turn you down when first offered, but as Mammoth found out, they just might come around and ask for the silver later. I think they are taken aback at first, but then they do a little research only to find out how much they really lost out by not accepting the silver payment. Fool me once, sort of thing!

  10. Awww shucks!  That does just warm my cockles…
    Goes to show there’s hope for y’all down there.  (In Canada it’s very trendy to look down
    our superior Canadian noses at the U.S…like our “leaders” are any different once the Mounties,
    moose, and maple syrup are stripped away.)
    Gotta get that sign printed for my shop – one with a picture of Canadian and U.S. silver coins and a dry-erase area for the fiat value I’ll offer in credit for them.

  11. Some people down play what Utah has been doing w/ regard to precious metals, like it’s “no big deal”. I think it’s a big deal, that should be practiced by lot’s of states.

    Bet ya that California would not be in the terrible financial shape it’s currently in, if it was allowed to take in Silver & Gold (real assets) from residents for debt’s, public & private.

    Just my 2 cent’s…  

  12. How many states are considering this? I saw a post regarding it a while back but I can’t find it now. Anyone know?

  13. Awesome 49 more states to go! This took about a year to implement, so by this time next year hopefully Virginia and Idaho will join Utah in monetizing Gold and Silver. Then a year after that the other 47 states may follow suit a year later in time for 2014s possible Hyperinflation event. The next president whether its Obama, Romney, Paul or Santa Claus wont be able to do anything in time to prevent this IMO because whoever is in the White House their fiscal policies wont go into effect until late 2013. By then our Debt could grow another 3-6 Trillion Dollars. I believe.

  14. Great stories! Mammoth keep it up – look how the guy changed his mind later.  We have to educate people. My favorite method is through birthday, Christmas and other gifts. I give silver dollars.  My kids have come around and some of my friends.  It takes awhile but when people hold and touch real silver they slowly get addicted.  And when someone sees a couple years of silver dollars presents that you’ve given them, it gets them excited and they want more.

    Keep it up troops!

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