Digital journal
March 26, 2011
The failing of the Dollar is
coming on like a freight train – what will you do when that happens? What will
you do in that day when all your money is worthless, worthless to buy food,
worthless to pay bills, worthless to pay taxes on property? What will you do? Have you filled your barns and storehouse
against this day and time? More and more states are preparing for that day. Awake and be no longer fools, but arise in
life and the wisdom of God.
Salt Lake City -
The state of
“The gold standard would keep you
from printing money and destroying the middle class,” said Republican Congressman
and potential 2012 Presidential candidate Ron Paul. “Every country where you
have runaway inflation, there's no middle class.
In fear of the
According to the Salt
Lake Tribune,
Furthermore, the bill exempts the
transfer of gold and silver from state taxes. Foreign minted coins, such as Krugerrands, Napoleons and Pandas,
would not be accepted under the bill.
Utah Governor Gary Herbert will have
until Mar. 30 to veto the legislation, but if he doesn’t then the bill will
automatically become law. It is still unknown where the governor stands on the bill
and he has not spoken to the media regarding the legislation.
“This is a step in preparedness, a
step in security,” said Republican Utah Representative Brad Galvez, reports Commodity
Online. “It allows us to be able to hold up our economy as the
dollar continues to shrink.”
Some, however, feel the bill will
incite tax loopholes. Certified public accountant and Representative Steve Eliason opposed the bill and said investors who are looking
for a way to avoid capital-gains taxes on assets can sell it for coins.
The bill comes as there is a growing
anti-Federal Reserve movement. Proponents of auditing the Fed and/or abolishing
the institution completely say former Fed Chairman Alan Greenspan and his
successor Ben Bernanke were the instigators of the current economic collapse.
“They’ve been a disaster,” said
policy director of the American Principles Project, Jeff Bell, reports the Globe
and Mail “Mr. Bernanke, ever since he got on to the Fed, has
been a force for fighting deflation and bringing interest rates down to the
disappearing point.”