How US States Can Pave The Way For Greater Use Of Sound Money
by JP Cortez via The Mises Institute,
ZeroHedge.com
Sep 5, 2016
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 US 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 own 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.
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