UTAH,GOLD CURRENCY! GOLD AUDIT? When?

[decoy409]

And I can think of a few other states that have already undergone the preperations to do the same thing.

May 22,2011 SALT LAKE CITY (AP) -- Utah legislators want to see the dollar regain its former glory, back to the days when one could literally bank on it being "as good as gold."

To make that point, they've turned it around, and made gold as good as cash. Utah became the first state in the country this month to legalize gold and silver coins as currency. The law also will exempt the sale of the coins from state capital gains taxes.

Craig Franco hopes to cash in on it with his Utah Gold and Silver Depository, and he thinks others will soon follow.

The idea is simple: Store your gold and silver coins in a vault, and Franco issues a debit-like card to make purchases backed by your holdings.

He plans to open for business June 1, likely the first of its kind in the country.

"Because we're dealing with something so forward thinking, I expect a wait-and-see attitude," Franco said. "Once the depository is executed and transactions can occur, then I think people will move into the marketplace."

The idea was spawned by Republican state Rep. Brad Galvez, who sponsored the bill largely to serve as a protest against Federal Reserve monetary policy. Galvez says Americans are losing faith in the dollar. If you're mad about government debt, ditch the cash. Spend your gold and silver, he says.

His idea isn't to return to the gold standard, when the dollar was backed by gold instead of government goodwill. Instead, he just wanted to create options for consumers.

"We're too far down the road to go back to the gold standard," Galvez said. "This will move us toward an alternative currency."

Earlier this month, Minnesota took a step closer to joining Utah in making gold and silver legal tender. A Republican lawmaker there introduced a bill that sets up a special committee to explore the option. North Carolina, Idaho and at least nine other states also have similar bills drafted.

At the moment, Franco's idea would generally be the only practical use of the law in Utah, given the legislation doesn't require merchants to accept the coins, either at face value - $50 for a 1-ounce gold coin - or market value, currently almost $1,500 per ounce. And no one expects people will be walking around town with pockets full of gold and silver.

Matt Zeman, market strategist for Kingsview Financial in Chicago, expects more people will start investing in gold as America's growing debt and bankruptcies in other countries continue to decrease the value of government-backed money.

"You've seen gold replacing these currencies as safety instruments," Zeman said. "If I don't feel good about the dollar or other currencies, I'm putting my money in precious metals."

Some supporters, including the law's sponsor, seek to push Congress toward removing the tax burdens that discourage use of the coins, such as a federal capital gains tax.

"Making gold and silver coins legal tender sends a strong signal to Congress and the Federal Reserve that their monetary policy is failing," said Ralph Danker, project director for economics at the Washington, D.C.-based American Principles in Action, which helped shape Utah's law. "The dollar should be backed by gold and silver, so we have hard money."

The U.S. and many other countries largely abandoned gold-backed money during World War I because they needed to print more cash to pay for the war. Later, during the Great Depression, President Franklin D. Roosevelt took steps that essentially prohibited gold and silver as legal currency to prevent hoarding.

In 1971, President Nixon formally abandoned the gold standard.

Fifteen years later, the U.S. Mint began producing the gold and silver American Eagle coins, primarily aimed at investment portfolios and allowing people to trade them at market value but with capital gains taxes on profits.

Utah is now allowing the coins to be used as legal tender while levying no taxes.

Opponents of the law warn such a policy shift nationwide could increase the prospect of inflation and could destabilize international markets by removing the government's flexibility to quickly adjust currency prices.

"We'd be going backward in financial development," said Carlos Sanchez, director of Commodities Management for The CPM Group in New York. "What backs currency is confidence in a government's ability to pay debt, its government system and its economy."

Larry Hilton, a Utah attorney who helped draft the law, disagrees and says the gold standard would restore faith in American money at a time when spiraling debt is weakening confidence.

"We view this as a dollar-friendly measure," Hilton said. "It will strengthen the dollar by refocusing policy matters in Washington on what led to the phrase, `the dollar is as good as gold.'"

hosted.ap.org/dynamic/stories/U/US_BACK_TO_GOLD?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-05-22-15-23-20

Like I say,we are right on schedule. And if you think that the old dollar index is showing true strength right now as it rises,I do pity thee.

[decoy409]

And we run this one in as well as this is BIG NEWS,

May 23,2011 China Prepares To Launch Gold ETFs As Utah Becomes First State To Make Gold And Silver Legal Tender

www.zerohedge.com/article/china-prepares-launch-gold-etfs-utah-becomes-first-state-make-gold-and-silver-legal-tender

[decoy409]

Well it was only a matter of time before we would start seeing the moves presented.

How much will that fiat paper be worth down the lane?

[decoy409]

Ahh, those out a towners are making quite the statement this morning,and your silent broken US states are speaking out as well.

[decoy409]

See,states are simply fed up (no pun intended). If you caught the Unemployment cut backs going down throughout the states,as well as this and that being cut off from them,well individual states still have the responsibility of making ends meet. And they certainly can not do this while the cake is drawn down to hold up WS.

I did say to watch out for China months back as they moves were preparred and ready to kick off.

[Deleted]

So are they planning on minting gold/silver coins to use as currency in the future? I don't really see everyone comfortable with putting all their precious metals in a vault with the track records of banks... I thought there was some restriction about states minting their own currency, you know "counterfeit"

[decoy409]

I step back and I read between the lines. So my views are off the wall to many. You will see those shouting conspiracy theorist and decay knows nothing.

What is relative is that various forms of currency have already been minted and not applied for use as of yet. As well you will find the following beneficial to the your question.

Feb. 12,2011

(excerpt from) - Sen. Lee Bright: SC should coin its own money

Continuing a pattern of attempts to assert South Carolina's independence from the federal government, State Sen. Lee Bright, R-Roebuck, has introduced legislation that backs the creation of a new state currency that could protect the financial stability of the Palmetto State in the event of a breakdown of the Federal Reserve System.

Bright's joint resolution calls for the creation of an eight-member joint subcommittee to study the proposal and submit a report to the General Assembly by Nov. 1.

The Federal Reserve System has come under ever-increasing strain during the last several years and will be exposed to ever-increasing and predictably debilitating strain in the years to come, according to the legislation.

“If there is an attempt to monetize the Fed we ought to at least have a study on record that could protect South Carolinians,” Bright said in an interview Friday.

“If folks lose faith in the dollar, we need to have some kind of backup.”

The legislation cites the rights reserved to states in the Constitution and Supreme Court rulings in making the case that South Carolina is within its rights to create its own currency.

“The Supreme Court of the United States has ruled that the states may adopt whatever currency they desire for the purposes of performing their sovereign governmental functions, even to the extent of adopting gold and silver coin for those purposes while refusing to employ a currency not redeemable in gold or silver coin that Congress has designated ‘legal tender.'...” Bright's legislation states.

The legislation claims “many widely recognized experts predict the inevitable destruction of the Federal Reserve System's currency through hyperinflation in the foreseeable future.”

Per the legislation, South Carolina's new currency could consist of “gold or silver, or both.”
(end of excerpt)

Read the whole deal here www.goupstate.com/article/20110212/ARTICLES/102121020

[decoy409]

Nice duck and cover there,yous the man. ;D

[decoy409]

do da! do da!

[Aman A.K.A. Ahamburger]

May 23, 2011 9:09:37 GMT -5 @rosebaby said:

So are they planning on minting gold/silver coins to use as currency in the future? I don't really see everyone comfortable with putting all their precious metals in a vault with the track records of banks... I thought there was some restriction about states minting their own currency, you know "counterfeit"

Exactly!

Then there is this, from the original article..

His idea isn't to return to the gold standard, when the dollar was backed by gold instead of government goodwill. Instead, he just wanted to create options for consumers.

"We're too far down the road to go back to the gold standard," Galvez said. "This will move us toward an alternative currency."

Earlier this month, Minnesota took a step closer to joining Utah in making gold and silver legal tender. A Republican lawmaker there introduced a bill that sets up a special committee to explore the option. North Carolina, Idaho and at least nine other states also have similar bills drafted.

At the moment, Franco's idea would generally be the only practical use of the law in Utah, given the legislation doesn't require merchants to accept the coins, either at face value - $50 for a 1-ounce gold coin - or market value, currently almost $1,500 per ounce. And no one (except the Scarecrow) expects people will be walking around town with pockets full of gold and silver

Then there is this..

Won Less Volatile for Pimco as ‘Easy’ Carry Trades Luring HSBC to Yuan:
www.bloomberg.com/news/2011-05-22/won-less-volatile-for-pimco-as-easy-trade-lures-hsbc-to-yuan.html

Of course there is no reason that the dollar should stabilize against the euro and move higher, pushing the index higher. I mean there are no problems in Europe.

[decoy409]

I love the bottle taken away from the Euro and how the $ index climbed! Why even more funny is old Ladden and the death of? Well all the same and the $ index climbed! No what's even better is that manufacturing sector for the US report and how it has dwindled to shame and the $ index climbed! No,no,no it's the 4 MILLION more homes ready to crash the market while the banksters lock even the upkept ones into foreclosure land and the $ index climbs!

Your just way too funny for me. All the same,it does SUCK when your baseless PROFIT comes from INSIDER info from futures in speculation with no REGULATING.
And there will be a price to pay for that.

Now have a great day!

[Aman A.K.A. Ahamburger]

I love the bottle taken away from the Euro and how the $ index climbed!

Just like Bruce tried telling you it would a few weeks back, then you mocked him as usual.

No what's even better is that manufacturing sector for the US report and how it has dwindled to shame and the $ index climbed! No,no,no it's the 4 MILLION more homes ready to crash the market while the banksters lock even the upkept ones into foreclosure land and the $ index climbs!

I know you think that the demise of the USA is funny. You have pointed it out over and over. We all get that you want to fish and laugh at how dumb we are for not seeing the SHAM WOW.

You think the banks don't want to get these homes sold that threaten their very existence? No matter what, logic escapes you scarecrow.

Your just way too funny for me. All the same,it does SUCK when your baseless PROFIT comes from INSIDER info from futures in speculation with no REGULATING.

Actually your the one speculation, and you would be wrong. My information comes from the FACT that I study history, not claim to. I use what I know, and what I can piece together from reading mass volumes of information from all sources, to make educated logical theories on the outcome of a situation. You have no idea how wrong you are about the regulation issue, it's funny.

Have a nice day, I always do. I have a great family and a great support group of people from... well all over NA...

[decoy409]

Yes shameful as they are protecting SHAM WoW at whatever cost it carries in order to insure their so called profit are some. Caring less about those around them and only for themselves.
They talk as though they are meaningful but you bring a name in such as WILLIAM BLACK to clean the 'rats' out and the 'rats' scurry to their dark corner and tremble with fear.

'On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned Federal Reserve Bank would soon be out of business. The Christian Law Fellowship has exhaustively researched this matter through the Federal Register and Library of Congress. We can now safely conclude that this Executive Order has never been repealed, amended, or superceded by any subsequent Executive Order. In simple terms, it is still valid.'

To read the entirety www.john-f-kennedy.net/thefederalreserve.htm

[decoy409]

And they certainly do talk a good game as to this and that as exampled by one of the rats above. And they will actually pull the blinders on most with curve balls such as I think the demise is funny.

Those that have followed along for the past 3 years of my postings know that I think it is anything but funny as to the demise. And once again when I brought 'bring William Black back' the rats ran to their holes except for the king rat stating BLACK was old and useless.

The so called factual history that the rat above suggests is no more than their daily feces.
Bringing William Black back summed up the rats quite well. And further more (let the rats ridicule) old Keiser has been straight forward as well,and has a most EXCELLENT TRACK RECORD for calling things months,years in advance. Who is who and how it will come out in the wash as I say. And it has as old Max has put the LIGHT to it.
Rats hate tasty cheese called TRUTH.

[decoy409]

I get a kick out of this rat,

Quote #14 - 'I know you think that the demise of the USA is funny. You have pointed it out over and over. We all get that you want to fish and laugh at how dumb we are for not seeing the SHAM WOW.

You think the banks don't want to get these homes sold that threaten their very existence? No matter what, logic escapes you scarecrow.'
(end of quote)

I do hey rat. And you are implying that you are dumb.

Banks want to get them sold hey? Well that is a really FUNNY one rat. ;D

Just ran over yesterday on a 'constant' follow up as to who is who and who is buying them on the courthouse auction block by the masses,and how the SHAM WoW cover is coming off the lid at a exploding pace now. Say,maybe you can come up with some more creative b.s. magic tricks for them.

So now you are supporting the train robbers with more feces being spewed. Go for it sport,your so called credibility line has been diminishing since day one.

[decoy409]

My,my. Now I know you are upset,but hey,I am just playing your game. Don't like your game I take it when rat feces spew is brought out and has to be corrected?
Well,that's all part of the game that has been in play. Get used of it. If it was not me who would you blame the turn of the game on? Millions and Millions of others?

Oh,and it was not me that named the pack,rats.

[Aman A.K.A. Ahamburger]

Sunrnr if that is why he was assassinated then why?

We can now safely conclude that this Executive Order has never been repealed, amended, or superceded by any subsequent Executive Order. In simple terms, it is still valid.'

Again I would like to point out what one of the greatest economists of all times pointed out. The developments of western capitalism have benefited the common man the most. The rich have benefited little from these conveniences, rich Greeks had slaves to carry their water and waste. Rich Romans had the best actors and musicians in their homes for free. Just think about where you would be 200 yrs ago. Ya, we have it soooo bad.

There is a reason that Wlamart is the BIGGEST company in the world and it's not because the same people are still in charge.

Also yes the rat does think that the banks want to sell these homes. That is why they are trying to sell them.

[Aman A.K.A. Ahamburger]

Disagreements are where we start to learn, as long as we show each other respect.

I'm not saying Capatilsm is perfect, in any way. Also sunrnr, the PboC is exactly like the FED reserve. Except their reserves are all mostly USD.. The USFed has the largets holdings of gold of any central bank, bruce has pointed this out many times. The chinese have printed 4 trilion dollars in the last two years alone.. add in 100 million empty properties...

I would also like you to consider this. It would take the time to bring all these facts up, and this is better because he is on the opposite side that you are about Lincoln..

Lincoln and his Dick invented greenbacks
www.yamaguchy.com/forum/index.php?topic=2.0

I differ from both of you. I think that he loved people so much he would have done anything to ensure his vision came true, including giving his own life... There is this conspiracy out there as well..

The assassination was planned and carried out by well-known actor John Wilkes Booth as part of a larger conspiracy intended to rally the remaining Confederate troops to continue fighting. Booth plotted with Lewis Powell and George Atzerodt to kill Secretary of State William H. Seward and Vice President Andrew Johnson as well. By simultaneously striking down the top three in the line of succession, Booth and his co-conspirators hoped to throw the Union government into disarray.

This is an interesting entry that has 16 references to check that describes the mental state and delusional world of Garfield's assassin. More conspiracy, I'm sure.
en.wikipedia.org/wiki/Charles_J._Guiteau

How is the Treasury printing money any different than what happens now? In fact going back to the blog above, notes printed by the Treasury in the 1860's were no different than today. The difference would be that if the US ran out of money.. Which is what the banking panics of 1873 and 1907 were all about, the UST is forced to lend direct from the banks, at the interest THEY charged, instead of from a US institution, which pays all profits(aside from member banks divdends, aka regional FEDs) back to the UST.

You are only a slave to your debt if you don't control your money.

FF a bit, I think a lot of people really overlook something that happened within the last century that turn things on it's head. It threatened the very existence of what we have, and after we won back then, attitudes changed, big time.. Here are some hints to what changes attitudes so drastically.. Rock on sun!

en.wikipedia.org/wiki/Universal_Declaration_of_Human_Rights

[decoy409]

Sorry pal,don't fly. Because you say we have the largest holding of gold? So when was that audit done last in a respectable manner?

That so called last 'AUDIT' was covered and BACKED in THE DECOY 409 POST. Hell brother,that was right from the mouths of those you are praising. See the so called AUDIT was signed off and nobody went to count Uncle Scrogges silo haven of the precious material.

The US government has not undertaken a proper audit of the Gold since President Eisenhower was in the White House in the 1950’s. Ed Durrell’s argument was simple. If the Gold was truly there, then commission an external firm to properly audit the Gold to prove that it exists. His argument sounds logical and simple enough, but curiously, the US government always refused. Moreover, the excuses given were not credible.

The excuse most often used by the US government was that an audit was too expensive, which is really no excuse at all. First of all, even if the audit had cost several million dollars, this amount is insignificant compared to all the money spent each day by the government (much of which we all know from reports of the Grace Commission is routinely wasted).

Further, isn’t a few million dollars a reasonable amount of money to spend to ensure that the US government’s most important monetary asset is secure and intact? Besides, wasn’t it worth spending a few million dollars to complete the audit just to rebuke Ed Durrell and to prove him wrong so that he would no longer be a thorn in their side?

[decoy409]

Here is the so called DEBATE as laid out above,#24 & #25. Whyy where did the rat pack scurry to once again? Back to the holes in retreat as what can be said when no proper audit has been done as the tale of the tape shows.


Why even the leader of the rat pack avoids such TRUTHS.

[decoy409]

When the PUPPETS address that actual,that's when we see change. Daily propaganda with sufficial backing is not cutting it by them.

[Aman A.K.A. Ahamburger]

Cool! I look forward to more converstaions with YOU.

[decoy409]

Here we have demonstrated the PUPPET,it has no defense.

Here is the so called DEBATE as laid out above,#24 & #25. Whyy where did the rat pack scurry to once again? Back to the holes in retreat as what can be said when no proper audit has been done as the tale of the tape shows.


Why even the leader of the rat pack avoids such TRUTHS.

[decoy409]

I am still open for DEBATE and allowing that jester to clear his position.

Now what about that Audit?

[decoy409]

Comedy duo. Can you explain the so called hands off the physical and don't look and count AUDIT for us that was simply signed off as being true?

Heck,I could count burgers in my dreams and say that's how many I have sold in real time.

[decoy409]

Stlll no takers to defend the bogus audit....sigh