Utah to Recognize Gold as Money – a Blow to the Federal Reserve Monopoly!

The Federal Reserve has declared a state of emergency. Rumors are circulating that Fed Chairman Bernanke has a squadron of helicopters on standby, filled with Federal Reserve notes to help quell the rebellion. The people of Utah should be prepared for a barrage of dollar drops within the next 24-72 hours. Residents are advised to take cover and exchange their Federal Reserve Notes while they can still purchase gold.

Today the Utah Senate approved a bill to officially recognize gold as money, all that is required is for the governor to sign the bill,  and it is done. This is a big first step for supporters of gold. Utah may become the second state (after Colorado) to recognize gold as an equal to the Federal Reserve Note. The Utah bill de-criminalizes the ownership of gold by removing punitive state capital gains taxes and sales taxes. More importantly, gold will be able to be used to pay your state income taxes.

This action by the state of Utah could prove to be a real catalyst within the US to reassert the role of gold as money. By abolishing taxes associated with gold ownership, Utah has really made it possible for citizens to use gold as a real form of currency. Utah will be a good test case to show how willing the pubic is to consider alternative forms of currency. Will they choose to pay for goods and services with FRNs, which can be printed by the trillions or real money like gold. I wonder what people will do when given the choice? The only reason people accept  FRNs at all is because the federal government mandates it and threatens its own citizens with force. The Fed and US government both know that fiat money only works when people are not given any other choice. Thanks to a government enforced monopoly over money, the elite of the country are able to steal money from the general population through inflation. It works great for the banksters, but it is killing the American middle class.

No doubt the banksters and their fully owned subsidiary, the Federal Reserve will be contemplating ways of preventing other states from following Utah. But for now, the monetary tide is turning in our favor in a very golden way. It is about time because the only thing that can save the US from ending up like a bankrupt degenerate third world country locked into perpetual austerity is to abolish the Fed and its ability to print money. I have an inking that the time may come when the dollar is as good as gold While we might aways from this outcome, the action in Utah is certainly encouraging. May more states follow suit and just say not to Federal Reserve Notes.

About Nathaniel Crawford 21 Articles

Nathaniel Crawford is a research analyst at an asset management firm in Los Angeles; He has a degree in History from Occidental College and enjoy trading stocks, options, and bonds.

Visit: Black Swan Insights

1 Comment on Utah to Recognize Gold as Money – a Blow to the Federal Reserve Monopoly!

  1. YES! YES! YES! It’s about time! I really hope that this catches on. But, I think that most people don’t know what is happening. We have never had a failed currency in this country. But we will have one soon.
    People should know better than to trust the Federal Govt. When Hugo (chavez) obama was a radical left winger he hated the govt and everything that it stood for but now he wants every one to BOW TO KING OBAMA! Trust me I’ll take care of you. RIGHT!

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