Tuesday, February 21, 2012

Gold, Silver Would Be Legal Tender Under Colorado Bill

If a bill sponsored by Colorado Sen. Kent Lambert, R, passes, it'll make Colorado the second state in the nation to recognize gold and silver as currency. Utah is the first and only state at this time to recognize gold and silver as a medium of exchange.

The growing movement of states to move in this direction is precipitated by the out of control spending of the Obama administration and the ongoing creation of money out of thin air by Ben Bernanke and the Federal Reserve.

That combination always ends up weakening the value of the U.S. dollar, or any currency where that is the standard practice of leaders of a country.

Along with the devaluation of the U.S. dollar, Senator Lambert also noted the growing public debt as a reason behind recognizing gold and silver as currency in the state.

Colorado is one of a dozen states in the U.S. to consider allowing gold and silver coins to be once again used as legal tender.

No comments: