Utah Rep Leads 11 US States to Recognize Gold as Money

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Utah Rep Leads 11 US States to Recognize Gold as Money (King World News, August 22, 2011):

With gold surging to a new all-time high up over $40 in early trading and nearing the $1,900 level, King World News interviewed the man who spearheaded the Utah Legal Tender Act, which recognizes gold and silver as legal tender in the state of Utah.  This has gained worldwide attention, including days ago an interview with state run China TV.  When asked about the interview with China TV Ivory stated, “They were curious as to why?  Curious what we thought the impact would be with respect to the federal government?

Obviously on the why we explained to them the very simple example, a silver dollar in 1960 would buy approximately five gallons of gas.  Well, that dollar today won’t buy you one fourth of a gallon of gas, but the silver will nearly fill your tank.”

“Then with respect to the federal government, we have about eleven states now that are looking at running the same legislation.  And to the extent that we get the states standing in unison, that sends a very strong political message to Washington that the guardians of the liberty of the people in the states are not going to tolerate any longer the unchecked devaluation of our earnings and savings.”

Moody’s let the state of Utah know they were the only state in the US they were not going to review because of the fact that Utah was the only state preparing to move forward without federal funds, for them to just disappear.  When asked about this Ivory replied, “Yes, I ran some legislation called, ‘Federal Receipts & Reporting Requirements’ that requires all state agencies to disclose total federal receipts, the percentage it is of their budget and then the important part, what their contingency plan is in the event that federal funds go away in whole or in part.  Moody’s came in and had that bill in hand and said, ‘You’re the only state in the nation preparing for this.’”

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