The Conservative Activist Forum
August 21, 2018, 12:27:13 PM *
Welcome, Guest. Please login or register.

Login with username, password and session length
News:
 
   Home   Help Login Register  
Pages: [1]   Go Down
  Print  
Author Topic: States Look to Bring Gold Standard Back  (Read 1437 times)
0 Members and 1 Guest are viewing this topic.
Snikks
Any man not for this nation, is against it!
Global Moderator
Hero Member
*****
Offline Offline

Posts: 1028



View Profile WWW
« on: April 15, 2011, 03:06:39 PM »

Quote
Starting in May, Utah residents will be able to shop in a currency other than the dollar -- gold, something that hasn't happened since 1933.
More Video
1 2 3 4 5
PreviousNext
Inflation Fears
Watch: Inflation Fears
paul
Watch: Paul Squares Off with Chmn Bernanke
VIDEO: Obama Touts Jobs Numbers: 'We Got Good News'
Watch: Obama Touts Jobs Numbers: 'We Got Good News'

Utah became the first U.S. state last month to recognize gold and silver coins minted by the federal government as legal tender. More than a dozen other states are considering similar measures, and are expected to follow Utah's example. The move, proponents say, is caused by declining faith in the U.S. monetary system and concern about rising inflation.

The gold standard, a monetary system in which the dollar is valued against a certain weight of gold, lasted until the Great Depression, when the Federal Reserve confiscated gold held by the public. President Nixon abolished the conversion of dollars to gold at a fixed rate in 1971.

It doesn't literally mean people would pull out gold coins at the cash register. Instead, the Federal Reserve would be required by law to make their notes redeemable for gold and hold gold coins and bullion as reserves. The printing of U.S. dollars would also be weighed against the value of gold.

The last time the gold standard was seriously considered was during President Ronald Reagan's administration. Reagan appointed a commission in 1981 to study the role of gold in the U.S. monetary system, but the group mostly came out against it -- except for two members, including now-Rep. Ron Paul, R-Texas, a champion of the Tea Party movement.

Despite continued calls by proponents like Paul to consider the gold standard, it had mostly stayed under the radar, until now.

[size=12]Continued here>>>[/size][/b]  http://abcnews.go.com/Politics/tea-party-momentum-utah-bill-brings-gold-standard/story?id=13377409

Logged

bkt
Hero Member
*****
Offline Offline

Gender: Male
Posts: 2506


View Profile
« Reply #1 on: April 15, 2011, 03:11:01 PM »

Does that mean I can present $50 in paper currency and get a one ounce gold coin from a Utah bank? If so, I'm driving my arse to Utah right now with all the cash I can scrape up.
Logged

Your system has experienced one or more fatal errors and must shut down at this time.

He who lives by the sword...should go out and get a really nice sword.
jpatrickham
Guest
« Reply #2 on: April 15, 2011, 08:28:45 PM »

They are tired of performing high wire acts with out a net. They don't feel they have a hedge against inflation, and the Federal Government is out of control. Can't blame them!
Logged
Snikks
Any man not for this nation, is against it!
Global Moderator
Hero Member
*****
Offline Offline

Posts: 1028



View Profile WWW
« Reply #3 on: April 15, 2011, 10:08:12 PM »

Does that mean I can present $50 in paper currency and get a one ounce gold coin from a Utah bank? If so, I'm driving my arse to Utah right now with all the cash I can scrape up.

I think it's a method to get the fed to have real gold to back up our money. Tongue Shocked
Logged

ELAIU
Hero Member
*****
Offline Offline

Gender: Male
Posts: 2464


View Profile
« Reply #4 on: April 16, 2011, 12:32:04 AM »

Never happen
Logged

Malo periculosam libertatem quam quietum servitium.
Better freedom with danger than peace with slavery.

I'm willing to die to keep my guns,
Are you willing to die trying to take them!
Son_Of_Liberty
Hero Member
*****
Offline Offline

Posts: 864


View Profile
« Reply #5 on: April 16, 2011, 06:10:13 AM »

Quote
Despite continued calls by proponents like Paul to consider the gold standard, it had mostly stayed under the radar, until now.


Until we get our currency "debt free" back to the American people, we can forget about restoring this country. We have enough in common with libertarians like Ron Paul. You are not American if you don't have some degree of libertarianism in you. We want goverment out of our lives as much as possible. That is American. Where I have a problem with complete libertarians is the legalizing of drugs.

Utah is only a few hundred miles from me. Smiley



Logged

*The definition of insanity: "Doing the same thing over and over again and expecting different results"
- Albert Einstein
*"Our obligations to our country NEVER cease but with our lives"
      John Adams to Benjamin Rush, April 18, 1808
*Here I Stand, God Help me,I cannot do otherwise -Martin L
Pages: [1]   Go Up
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.11 | SMF © 2006-2009, Simple Machines LLC Valid XHTML 1.0! Valid CSS!