Results 1 to 10 of 16
-
03-03-2011, 10:23 PM #1
Utah Considers Return to Gold, Silver Coins
Utah Considers Return to Gold, Silver Coins
The Utah House was to vote as early as Thursday on legislation that would recognize gold and silver coins issued by the federal government as legal currency in the state. The coins would not replace the current paper currency but would be used and accepted voluntarily as an alternative.
The legislation, which has 12 co-sponsors, would let Utahans pay their taxes with gold and also calls for a committee to study alternative currencies for the state. It would also exempt the sale of gold from the state capital gains tax...
...Critics of the gold standard say it limits countries' control over its monetary policy and leaves them vulnerable to financial shocks, such as the Great Depression. But supporters argue that the current financial system's dependence on the Federal Reserve exposes the value of U.S. money to the threat of inflation.
About time. Allowing the government to print however much money they deem necessary is a ludicrous idea to begin with. We've seen how good the government is with money. I would say the bolded part should be an argument for the gold standard, not against it.
-
-
03-04-2011, 07:31 PM #2
Unfortunately there isn't enough gold and silver in the world to support the U.S. economy.
-
03-04-2011, 10:46 PM #3
also calls for a committee to study alternative currencies for the state
It doesn't have to be gold and/or silver exclusively, but link the dollar to something with intrinsic value. Letting the Fed decide how much it is worth is no good.
-
-
03-04-2011, 11:03 PM #4
I think we would be just fine if we could get beyond being the world's big brother. We are either spening billions defending someone, spending billions feeding someone or spending billions helping someone rebuild after a war or natural disaster. i think it is time we start investing in our own country instead of everyone else's.
-
03-05-2011, 01:11 PM #5
You wouldn't need to keep rebuilding countries if you stopped invading them on flimsy evidence. The same goes for the UK before anyone gets their panties in a bunch.
-
-
03-05-2011, 05:34 PM #6
We invaded Iraq as part of a coalition (that included your country). A lot of people conveniently forget that fact but it remains a fact nonetheless.
What other countries have we invaded based on flimsy evidence?
-
03-05-2011, 10:31 PM #7
Well said !
-
-
03-06-2011, 04:57 PM #8
Not a fact for my country. We knew better than to get involved in that sham called a war in Iraq. And frankly, with the exception of some of the charity, the US only gets involved to "protect its own interests" around the world. I wouldn't call it "being big brother" unless you are referring to that "bossy, thinks he's Dad" big brother some off us grew up with.
-
03-06-2011, 05:08 PM #9
there is more than enough. In fact if there were only one ounce of gold then that one ounce would be of equal value to the entire world's GDP. Not rocket science here. The amount is of little importance.
The thing that makes it volatile is how to equate future discoveries. If you have a gold standard and a 10 million ounce discovery is made this would drastically decrease the value of the new currency.
Too little of it is doesn't really matter. The problem is how to regulate the circulation of new discoveries.
-
03-06-2011, 05:11 PM #10
also you would still use paper or possibly electronic. But the value of the paper would be backed by gold. Right now it's just a fiat disaster. Perfect storm looking for a needle to pop it's bubble.
I will take a gold/silver backed currency before an electronic global currency. Which I have to say is not far off. I see it in 2011, the trains conductor seems dead set on continuing this path until we drive right over the cliff.
-
Originally Posted by duane1969 
