Utah becomes first state to enact sound money bill into law

[stoneFree]

I may be starting an account in Utah soon:

http://constitutionaltender.blogspot...ver-legal.html

[motla68]

Sorry to say but this is not going to make a dang bit of difference unless all states do it. Nevada enacted similar type legislation in '2003 and it has not made any major windfall for them, they do not even mint the coin yet because there is not enough demand for it, or at least 10 of them anyway:

Assembly Bill No. 532–Committee on
Constitutional Amendments

March 24, 2003

____________

Referred to Committee on Constitutional Amendments

SUMMARY—Directs issuance of Nevada silver coins. (BDR 31‑1297)

FISCAL NOTE: Effect on Local Government: No.

Effect on the State: No.

~

EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

AN ACT relating to state financial administration; directing the issuance of Nevada silver coins; providing that such coins are legal tender for all debts in this state; and providing other matters properly relating thereto.

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

Sec. 3. 1. The State of Nevada shall issue into circulation

2-15 coins of the State of Nevada in the face amount of $50,000,000.

2-16 The coins must contain 1 ounce of fine silver, must be alloyed to

2-17 90 percent fineness and must bear The Great Seal of the State of

2-18 Nevada on one side and the words “Contains One Troy Ounce

2-19 Fine Silver,” “Twenty Dollars,” “Nevada Legal Tender” and the

2-20 year of issue on the other side. The coins so issued are legal tender

2-21 for all debts, public and private, in this state.

2-33 4. If the Legislature of the State of Nevada determines that

2-34 the Congress of the United States is fulfilling its constitutional

2-35 obligation to issue money by:

2-36 (a) Requiring the Federal Reserve Bank to retire its

2-37 circulating notes; and

2-38 (b) Causing the issuance of sufficient notes of the United

2-39 States and other currency to meet the needs of the commerce of

2-40 the United States and of Nevada,

2-41 the State Treasurer shall retire the coins authorized by this section

2-42 as they are received into the State Treasury.

[Frederick Burrell]

I may be starting an account in Utah soon:

http://constitutionaltender.blogspot...ver-legal.html

Great stone free. Thanks for posting. I might have to join you. FB

[Frederick Burrell]

From your link I see that many states are following suit. Wow..

The flood gates will soon be open with most of the states following. If they don't there will be such an out flow of cash from their banking systems it could cause them to crash. FB

[Mark Christopher]

I don't know about this. They clearly state that it will be legal tender. Are they trying to convert substance to credit? Maybe, we sure wouldn't want Lawful Money to catch on would we
MC

[Treefarmer]

I don't know about this. They clearly state that it will be legal tender. Are they trying to convert substance to credit? Maybe, we sure wouldn't want Lawful Money to catch on would we
MC

I think you called it Mark Christopher.
Anything you deposit into the bank, theoretically this could include acorn nuts as legal tender, will be subject to fractional reserve lending, income taxation, usury, and debt formation, as long as you agree by your signature to be subject to the Fed banking rules.

I think the new legislation being kicked around in different states now is just smoke and mirrors, to make people think that something positive is being done, while distracting them from the lawful money remedy.

[Frederick Burrell]

UTAH GOVERNOR SIGNS GOLD & SILVER LEGAL TENDER BILL!

Utah has now become the first State on our list to actually enact a sound money bill into law. On Friday, March 25th, Gov. Gary Herbert signed HB 317, the "Utah Legal Tender Act," into law. The law recognizes gold and silver coins issued by the federal government as legal currency in the state. The coins do not replace the current paper currency, but may be used and accepted voluntarily as an alternative.

http://media.causes.com/1044473

[motla68]

Of interest to this thread:

"The Constitution ‘was designed to provide the same currency, having a uniform legal value in all the States.’ It was for that reason that the power to regulate the value of money was conferred upon the Federal government, while the same power, as well as the power to emit bills of credit, was withdrawn from the States.
The States cannot declare what shall be money, or regulate its value. Whatever power there is over the currency is vested in the Congress." Congress provided in 31 U.S.C.A. section 463