Dick Johnson forwarded this update on the movement to make specie legal tender in some U.S. states.
State legislatures concerned with rampant printing of money by the nation causing a weaker dollar are responding by making precious metal legal tender to circulate. Utah is the first state to pass legislation that makes bullion coins legal tender.
"Lawmakers in Minnesota, North Carolina, Idaho and several other states are proposing measures similar to the one in Utah," states Forrest Jones in a Moneynews article, May 27, 2011. "South Carolina lawmakers are proposing a bill that would do just that based in part on concern that present monetary policies may be undermining the national economy."
Ralph Danker, a project director for economics at American Principles in Action, Washington, DC, stated "Making gold and silver [bullion] coins legal tender sends a strong signal to Congress and the Federal Reserve that their monetary policy is failing. Danker and his organization helped shape the new Utah law.
He added "The dollar should be backed by gold and silver, so we have hard money."
You can read the full article at:
Gold, Silver Becoming Legal Currency in More States
Wayne Homren, Editor
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