Monday, May 30, 2011

One Down, 47 To Go

Utah has passed a law intended to encourage residents to use gold or silver coins made by the Mint as cash, but with their value based on the weight of the precious metals in them, not the face value.

The legislation, called the Legal Tender Act of 2011, was inspired in part by Tea Party supporters, some of whom believe that the dollar should be backed by gold or silver and that Obama administration policies could cause a currency collapse. The law is the first of its kind in the United States. Several other states, including Minnesota, Idaho and Georgia, have considered similar laws.

This is good for everybody who wants their currency to be worth something in the coming years, since U.S. Treasury bills and Federal Reserve notes will soon be a valid substitute for toilet paper.

Why only 47 to go? I don't consider Hawaii and Alaska as real States, just U.S. possessions granted State privileges. Back when they made Hawaii a "State", Cuba would have been a better deal, but what we have now is a few remote islands full of Chinese Communists with the full set of privileges reserved for American citizens.

Sorta like today's Mexicans, except Mexicans are Socialists.

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