If you recall, we covered this hopeful story from the West back in March. Today we can now say that there is a state in this country that has authorized the use of competing currencies, specifically gold and silver. [And the crowd goes wild!] Over 10 states have similar bills drafted, but Utah is paving the way.
The author of the alternative currency bill, Republican State Rep. Brad Galvez, was inspired by the dying dollar and equally inauspicious Federal Reserve. The Fed has consistently been pumping money out of thin air for its third straight year to “prop up” the economy, and this bill is one way conscious Utah citizens can snub their noses at the Fed and make wealth of their own. Business owners will not be required to accept the alternative currency, and the capitol gains tax will now be omitted for people who choose to take part in this alternative investment.
The growing popularity of owning gold and silver became a hot topic following the financial crisis of 2007-2008. Hedging against inflation with commodities has always been a high-profiled investor’s priority, however, nowadays you can ask the average Joe or Jane — continue reading at SilverUnderground.com