Monday, February 6, 2017

Following Utah's new plan for sound money, Arizona ready to vote on bill that would make gold and silver legal tender

Last week we published an article in which the state of Utah was preparing to vote on making gold and silver once again legal tender, and eliminating the taxation of the metals.  This move of course is to transfer the perception and belief that gold and silver are not simply commodities, but actual money in accordance with the Constitution.

And now we can add Arizona to this movement as on Feb. 2, the state legislature completed debate over the same issue regarding gold, silver, and sound money, and is getting ready to bring House Bill 2015 (HB2014) to a floor vote.

An Arizona bill that would eliminate state capital gains taxes on gold and silver specie, and encourage its use as currency, passed an important House committee today. Final approval of the legislation would help undermine the Federal Reserve’s monopoly on money. 
Rep. Mark Finchem (R-Tucson) introduced House Bill 2014 (HB2014) on Jan. 9. The legislation would eliminate state capital gains taxes on income “derived from the exchange of one kind of legal tender for another kind of legal tender.” The bill defines legal tender as “a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.” “Specie” means coins having precious metal content. 
In effect, passage of the bill would “legalize the Constitution” by treating gold and silver specie as money. 
HB2014 passed the House Ways and Means Committee by a 5-0 vote, with four members abstaining. - Activist Post
The Constitution does not give states the right to coin money, but it does specify that they have the power to use gold and and silver as legal tender outside other currencies created and determined by Congress.  And as confidence in the fiat currency known as the dollar continues to wane, more and more states are preparing for the inevitability that the dollar will one day no longer be able to support the U.S. economy, much less the global financial system.

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