And this will mean - what?? What do we use for money?

[On Our own]

Here is a list of 6 states (4 in the last month) and (2 states today) that have pending legislation to authorize the use of gold and silver to settle debts with its citizens and to provide them the legal means to avoid the devaluing of the dollar by having a parallel currency in light of massive bailouts and to protect them in the event of the dollars failure.

New Hampshire (they started this in 2003)

Bill currently mired in their State Legislators Commerce Committee: http://www.goldmoneybill.org/goldbill.pdf

Indiana Senate Bill 0453 Authors: Walker, Kruse

Date Chamber Action

01/14/2009 S Authored by Senator Walker

01/14/2009 S First reading: referred to Committee on Tax and Fiscal Policy

01/27/2009 S Senator Kruse added as coauthor

Current version: http://www.in.gov/legislative/bills/2009/PDF/IN/IN0453.1.pdf

Colorado House Bill 09-1206 (CONCERNING AN ELECTRONIC CURRENCY BACKED BY RESERVES OF PRECIOUS METALS)

House Sponsorship: Lambert

Senate Sponsorship: Lundberg

01/29/2009 Introduced In House

PDF of bill: http://www.leg.state.co.us/clics/cl...E9A3E098725753E005BDC18?Open&file=1206_01.pdf

Missouri House Bill No. 561 (creates provisions relating to the use of gold and silver by state and local government)

Sponsor: Jim Guest

CoSponsor: Doug Funderburk

2/2/09 Introduced and read first time.

2/3/2009 Read second time

Proposed effective date: 08/28/2009

PDF of bill: http://www.house.mo.gov/billtracking/bills091/billpdf/intro/HB0561I.PDF

Missouri House of Representatives Site: http://www.house.mo.gov/content.aspx?info=/bills091/bills/hb561.htm

Georgias bill is HB-430 http://www.legis.state.ga.us/legis/2009_10/sum/hb430.htm and this link should become active Tuesday February 17th 2009 when they are in session again at 9:00 am.

Marylands House Joint Resolution 5 (HJR5) can be found at http://mlis.state.md.us/2009rs/billfile/HJ0005.htm the wording is not up yet but it already has 14 sponsors.

Nevada (bill failed but included to show the reason why it failed)

03/24/2003 Nevada attempt: http://www.leg.state.nv.us/72nd/bills/ab/ab532.html

04/4/2003 Nevada result: http://www.leg.state.nv.us/72nd/Exhibits/Assembly/CA/ACA4041I.pdf

The mistake Nevada made was that they were going to "coin" money. Current attempts revolve around using coin and bullion issued by others as currency.

Article 1 section 10 of the United States Constitution reads as follows:

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility. http://www.archives.gov/exhibits/charters/constitution_transcript.html

Currently State Legislation Bills focus on the fact that the US Constitution demands that they may not "make any Thing but gold and silver Coin a Tender in Payment of Debts" without being in direct violation of the constitution.



Just imagine a world that has real money again instead of debt instruments. I also wonder what this will mean to the pricing and demand of precious metals.

 

[Wifezilla]

One problem with that...how can you tell the difference between 10k gold and 24k gold without destroying it? I remember seeing a 20/20 special about this. I know I don't know a damn thing about gold. I DO, however, know what good coffee smells like. Maybe we can use that as a currency....or mead. I know how to make mead...

 

[On Our own]

People in iceland were using booze! But, they actually said despite their currency's crash, they still used it, it was just that no one outside Iceland would take it any more....

 

[SKR8PN]

One problem with that...how can you tell the difference between 10k gold and 24k gold without destroying it? I remember seeing a 20/20 special about this. I know I don't know a damn thing about gold. I DO, however, know what good coffee smells like. Maybe we can use that as a currency....or mead. I know how to make mead...

I just so happen to have a 5 gallon pail of honey, and TWO 5 gallon glass carboy's all ready for my next batch
I LOVE me some Mead!! Trouble is....I like is so much I wouldn't wanna trade it for anything!!!

 

[sufficientforme]

One problem with that...how can you tell the difference between 10k gold and 24k gold without destroying it? I remember seeing a 20/20 special about this. I know I don't know a damn thing about gold. I DO, however, know what good coffee smells like. Maybe we can use that as a currency....or mead. I know how to make mead...

Gold is easily tested with the right tools, there are electronics or manual kits like the one I posted here.
http://www.mineralab.com/GoldTest.htm

 

[Wifezilla]

If we get to the point we are using gold for currency, do you really think we are going to be able to get test kits?

 

[freemotion]

Some will try.....I enjoy good old-fashioned bartering.

And how will you know gold-fill from gold plate from vermeil from solid gold? Won't the outside test as gold, while the inside could be brass or nickel?

Now it is required to stamp items, but counterfieters will always find a way.

In Kyosaki's book, Rich Dad, Poor Dad, he tells a funny story of when he was 9 he and a friend "made money" by melting down lead toothpaste tubes and making a mold of a nickel with plaster and making lead nickels. Dad came home and had to explain counterfieting laws to them! Cute story.

 

[Dace]

I think bartering will become more and more common.

 

[On Our own]

Already struck a deal for my spring plantings. Eggs for plants and maybe a few chicks if we hatch 'em for more...

 

[Quail_Antwerp]

I am thinking a lot more people will be bartering.