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
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.”