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Arizona lawmakers approve gold and silver as legal tender

Once Gov. Jan Brewer authorizes the bill, retailers in Arizona that are willing to accept gold and silver in lieu of paper money are allowed to let customers purchase goods with precious bullion.

"This gives them the ability to use it as tender and have the same recognition as the paper dollar coming out of the Federal Reserve," Republican State Sen. Chester Crandell tells the Associated Press.

Sen. Crandell is a sponsor of the bill, SB 1439, and helped craft the act to mimic a similar law that was passed in the state of Utah in 2011. Speaking to the AP from Arizona, Scottsdale Bullion & Coin broker Mike Rowlands suggests other states should follow suit before the buying value of the dollar diminishes even further.

"We know in the situation where we're at they continue to pump money in and pump money in, which eventually that game is going to end," Rowlands tells the AP.

Days before the Arizona House approved Sen. Crandell’s bill with a 36-22 vote, University of Central Oklahoma Professor Loren Gatch told Bloomberg News that more states are likely to adopt similar bills if the Federal Reserve continues its current policies under Chairman Ben Bernanke.

From: http://rt.com/usa/tender-silver-gold-arizona-651



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Cannot trust the government

They will tax business not at the price of gold during the transaction but at market price at the later date. As long as paper and gold are convertable, paper will drive gold out from circulation. Gold will remain a store value instead, no matter how government clerks legislate.

Uhm, you already are "allowed" to accept anything you want

If that is the way this bill reads, that does absolutely nothing, and obscures what a legal tender is.

If you want to sell ("trade") anything for $5 or a chicken, piece of gold, etc accepted, you can as a business right now.

Legal tender is not "permission to buy or sell". Crap. A legal tender is what you are forced to use in payment for debts by the government if you have to go to court, if the government fines you, you owe taxes, and most important, if the government OWES you - so they don't stick you with anything but gold or silver.

But you can and always have been able to trade anything you want for anything else including gold and silver coins. It's called freedom.

And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.

Black's law dictionary:Legal

Black's law dictionary:

Legal tender: is that kind of coin, money, or circulating medium which the law compels a creditor to accept in payment of his debt, when tendered by the debtor in the right amount.

The only time the government compels a creditor to accept a payment is in court judgments, taxes, legal proceedings, what the government owes you, etc. If you have trouble remembering this, when you see "legal" in legal tender, think legal proceedings.

http://www.rogershermansociety.org/Blacks_Law.htm

And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.

FYI - for anyone that likes

FYI - for anyone that likes to think about things or have intelligent discussions (have you noticed how much the forums have been sinking lately due to collectivism and caring about what most people think instead of intelligence and what is actually right?)

You could say the current fiat system's value relies entirely on government force - what the government can force you to accept - in taxes, from the government, in court judgments and fines, etc.

This is not that different from the Roman system where they issued tax bills and allowed others to collect it - what where called the "Publicans" in the Bible. So the Government issued a piece of paper saying you had to pay so much or forfeit your assets etc, and instead of collecting it themselves, they put it up for auction, and private collectors bought it up.

One of the reasons nothing but GOLD AND SILVER is a LEGAL TENDER in the constitution. Subvert this and you subvert everything.

https://en.wikipedia.org/wiki/Publican

And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.

Since gold crashed today, it would be good for it to

circulate. People getting used to it in regular purchases can only increase its appeal.

Neat how this law and gold crash close together.

As long as people can purchase gold without actually holding it or having an actual sale, it will always be open to manipulation.

These laws are good for when the dollar crashes completely

But why would I now give a retailer a valuable/appreciating currency (Gold/Silver)if I can give them a depreciating paper currency instead(FRNs)?

It might be legal tender, but

It might be legal tender, but I really doubt it will be widely adopted as physical legal tender. It's not exactly a convenient form of financial transaction, is it?

Used to be

Before federal reserve notes, bank notes stated where the gold or silver was located.. a $10 bill had the name of the bank printed on it, not where gold was minted, but where it was deposited.. it's what they had been doing since before the gold rush in CA..

on this wiki page http://en.wikipedia.org/wiki/History_of_the_United_States_do...

they show the bills but without the stamps.. I know about the stamps because we have a blown up copy of a $10 bill from what was a local bank (that later became Bank of America located in SF).

That's an interesting

That's an interesting historical detail.

If my business was there, id

If my business was there, id hang a huge sign out front offering discounted prices for gold and silver.

And you, my friend, are a

And you, my friend, are a genius. Every DP business owner should do this.

Simple Facts and Plain Arguments
A common sense take on politics and current events.

www.simplefactsplainarguments.com

Hopefully this will drive

Hopefully this will drive demand, price, interest in hard currency up. Then the feds will come in for say it undermines the US dollar and try to shut it down. Hopefully by that point it will be too late for the FED.

Southern Agrarian

since we are talking AZ

Please take a minute and look at this DP link. Thanks!

http://www.dailypaul.com/281641/sign-petition-to-arizona-gov...

Truth is treason in an empire of lies

even more fun. Will banks accept it for deposit?

It has been quite some time since you could deposit gold into an Arizona bank but not quite as long as other places. How quaint right?

Yeah in fact hysterical. AS IF any miner would even THINK about depositing his metal in a freaking BANK? What are you kidding us?

BWAAAAAAAA HAAAAAAAAA HAAAAAAAAAAA HAAAAAAAAAAA OMG THEY ARE TRYIN TO KILL US FOR SURE THIS TIME BOYS BWAAAAAAAAAAAAAA HAAAAAAAAAAAAAAAAA PLEASE STOP! PLEASE!

*wipes laugh tears from eyes

Yeah ok here's a better idea, how about we sell our metal for cash and buy stuff with it and you can go get us lemons. Or vinegar. Or whatever you like to suck from pickled eggs.

Be brave, be brave, the Myan pilot needs no aeroplane.

of course you could deposit

of course you could deposit your gold into a bank--a $50 gold eagle deposited into your account would net you 50 FRNs, not the market value of the gold. BUT, if you were to sell that gold eagle, only then would the market value come into play.

Better Idea...

start PM only banks. You can create check's that people can fill out for weight in PM's that they deposited in your vault. Then you can use the PM's to invest in other stuff. We all know you only need around 10% on hand. Muhahahaha!

But don't call it a bank at all. Call it something like PMVault.... Then you might be able to avoid banking rules....

We accept PMVault Checks.

I swear it's not a bank, we are a security firm for those who can't keep their PM's safe.

Biz opps everywhere for this one.

The real fun starts when they try to tax it.

Hi. This is Arizona. If you really want gold you go out and find it. You have to work for it but if you study up and get some used gear you can go out and get the gold.

It's not hard to convert gold into currency in Arizona. Just drive into town, do a deal and walk away with cash money and no paperwork necessary. Then go get blasted in the bars, stock up on dry goods and go do it again.

See we make our own metal. It would be dilly to have our own state minted currency AGAIN but we already do trade in metals at the "street level" here. The real one. And it might not be paved. But smart vendors do and always have accepted metals. People got scales.

So while this law seems ostensibly geared towards states rights and issuance of currency, at the real street level it's just another official seal or stamp or control point and now they'll want us to report on metallic transactions at something like real spot.

Well ain't really gonna happen. A silver dollar might still be booked as $1.00 for reporting purposes and what happens on the scales, well mostly that's never reported and never will be. Go suck eggs. Unless they want to tie an IRS agent to my sack. Which he's welcome to carry. Keep both his hands busy.

Somebody once said this economy is like watching a train wreck in slow motion. Not sure what that means because everything tends to move slow in deserts. But if they run a train through here it won't be slow.

We already pulled up most of the tracks and sold them for scrap.

Be brave, be brave, the Myan pilot needs no aeroplane.

As if any government gets the slightest say

...about what people can and cannot use as money.

"Oh, I'm not sure I can accept your silver coins to purchase this item. I mean, government hasn't given me permission."

Good Luck On Passing This Bill, Arizona.

Utah seems to be slow in implementing their legal Constitutional money LAW!

beesting

Yeah any sentance starting with "if Jan Brewer" or

"when Jan Brewer" is highly dubious at best.

Anyways to let you in, anybody in Arizona is already free to do exactly what they are TELLING YOU this bill enables them to do and many do so. Smarter ones that is.

The real angle here is to set us up to mint our own state coinage.

Huh?

Hey think about it: we produce copper, we produce gold, we produce silver.

Starting to make sense? Well it does to somebody.

Which is why Jan almost positively won't sign it.

Be brave, be brave, the Myan pilot needs no aeroplane.