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Trust in Gold Not Bernanke as U.S. States Promote Bullion

Posted By admin On April 8, 2013 @ 10:24 am In Money Watch,Tile | Comments Disabled

Amanda J. Crawford
Bloomberg [1]
April 8, 2013

Distrust of the Federal Reserve and concern that U.S. dollars may become worthless are fueling a push in more than a dozen states to recognize gold and silver coins as legal tender.

Lawmakers in Arizona are poised to follow Utah, which authorized bullion for currency in 2011. Similar bills are advancing in Kansas, South Carolina and other states.

The measures backed by the limited-government Tea Party movement are mostly symbolic — you still can’t pay for groceries with gold in Utah. They reflect lingering dollar concerns, amplified by the Fed’s unconventional moves in recent years to stabilize the economy, said Loren Gatch, who teaches politics at the University of Central Oklahoma.

“The legislation is about signaling discontent with monetary policy and about what Ben Bernanke is doing,” said Gatch, who studies alternative currencies at the Edmond, Oklahoma-based school. “There is a fear that the government, or Bernanke in particular and the Federal Reserve, is pursuing a policy that will lead to the collapse of the dollar. That’s what is behind it.”

Full article here [1]


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URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/news/2013-04-08/trust-in-gold-not-bernanke-as-u-s-states-promote-bullion.html

[2] More U.S. states looking to legalize gold and silver as currency while ditching dollars: http://www.prisonplanet.com/more-u-s-states-looking-to-legalize-gold-and-silver-as-currency-while-ditching-dollars.html

[3] Swiss gold bullion in huge demand as trust in banks dives: http://www.prisonplanet.com/swiss-gold-bullion-in-huge-demand-as-trust-in-banks-dives.html

[4] Trust Mises and Gold, Not Keynes, Bernanke, and Fiat Money: http://www.prisonplanet.com/trust-mises-and-gold-not-keynes-bernanke-and-fiat-money.html

[5] Putin Turns Black Gold to Bullion as Russia Outbuys World: http://www.prisonplanet.com/putin-turns-black-gold-to-bullion-as-russia-outbuys-world.html

[6] Donald Trump accepts gold bullion (real money) as lease payment from commercial tenant: http://www.prisonplanet.com/donald-trump-accepts-gold-bullion-real-money-as-lease-payment-from-commercial-tenant.html

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