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Saturday, October 6, 2012

Legalization of Gold on Its Way

Over the last 18 months, lawmakers from 13 U.S. states have been busy. Worried about the Federal Reserve and the U.S. dollar on the brink of collapse, they are proposing bills to recognize gold and silver as legal tender.

In March, Gov. Gary Herbert of Utah signed a bill allowing the use of gold and silver coins as legal tender.  

In April the South Carolina legislature signed a law  to use gold and silver as real money.

Missouri, Colorado, Montana, Idaho, Indiana, New Hampshire, and Georgia are also deliberating variations on these bills.

There is a bill pending in Washington state that would approve gold coins as legal tender. 

Virginia’s legislature “passed a bill that will allow the state to mint gold, silver, and platinum coins, in the event of  a monetary collapse.

To have states pass laws to recognize gold and silver as legal tender may seem a bit odd since the US Constitution already recognizes US silver and gold bullion coins as legal tender.  

If you think the US is in recovery and we're just in a rocky patch of what will prove to part of the ups and downs of the normal business cycle, all this should be meaningless for you.

If not, get a little gold before it's too late.

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