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    Silver

    Utah May Soon Dump Federal Reserve: “Put Trust Back in God and Gold, Rather Than Central Bank”

    Mac Slavo
    February 7th, 2017
    SHTFplan.com
    Comments (74)
    Read by 13,617 people

    gold

    States fed up with the phony, manipulated central bank currencies are starting to move away from the failing system – and prepare to hedge themselves against the worst case scenarios of monetary collapse.

    Though the Federal Reserve clearly dominates the U.S. and global economy, some U.S. states are making moves to reestablish real money, and shift away from the burdensome and oppressive central bank currency.

    With the financial system so broadly manipulated by central bank printing – and the experiment over the past eight years of zero interest, unlimited  – many leaders are looking for a safe haven and a guard against the downturn of weak spots of debt-based money printing as the default means of exchange.

    Put more simply, Utah may soon lead the way of putting “trust” back in God and gold, rather than in God and the Federal Reserve.

    A new law proposed in the House there would allow for a repository of physical gold, and encourage and facilitate official business of the State being conducted with funds backed by or drawn from the value of this stored wealth – a subtle move that is nonetheless revolutionary in scope.

    According to the 10th Amendment Center:

    A bill introduced in the Utah legislature would build on the state’s Legal Tender Act, creating a foundation for further action to encourage the use of gold and silver as money, and take another step toward breaking the Federal Reserve’s monopoly on money.

    Rep. Ken Ivory (R-West Jordan) introduced House Bill 224 (HB224) on Jan. 27. The legislation would add several provisions to state law designed to encourage the use of gold and silver as legal tender. Passage would set the stage for expansion of gold repositories in the state and authorize further study on several sound money policies.

    Specifically, HB224 would authorize the investment of public funds in specie legal tender held in a commercial specie repository. Under existing code, “specie legal tender” means gold or silver coin and bullion. “Commercial specie repository” means an institution that holds or receives deposits of specie legal tender that is located within the state. Practically speaking, passage would give the state the option to hold funds in gold and silver instead of Federal Reserve notes.

    Things probably wouldn’t change overnight, but it would certainly be noticed by the banking class.

    via X22 Report:

    Relevant portion on Utah and gold starting around 11:30 minutes

    According to the definitions set in place by the founders of this nation, only gold and silver represent real currency.

    Article 1 Section 10 of the U.S. Constitution makes clear that only gold and silver are to be used as payment, but it is hardly what takes place in the modern economy:

    No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

    While Texas made a big move in 2015 to set up a gold bullion depository in the state, Utah – historically a very independent and conservative state – is also now attempting to get back on solid footing. As SHTF reported:

    As Money Metals Exchange explains, Texas’ move to repatriate gold is a big deal, centered around distrust of Wall Street financial markets and a keen eye on schemes surrounding the physical possession of gold.

    When Governor Greg Abbott signed House Bill Number 483 in his own hand on Friday, Texas gave a big gold “finger” to Wall Street and will soon bring $1 billion in gold bars back to the Lone Star State.

    […]  In fact, those with the fiduciary responsibility for managing the Texas gold are feeling less certain than ever.

    Many European nations – like Germany – have been repatriating their gold bullion holdings, billions of which have been until recently retained by the NY Fed and other central bank vehicles, while Russia and China, among other world powers, have been accumulating massive amounts of gold at a rate never before seen in history.

    Much of it is being soaked up in stealth, and through back channels on the market to downplay the size of the purchases, but close observers are acutely aware of the fact that many states are attempting to build up enough personal collateral to guarantee their relative place if/when the dollar reserve standard is officially dissolved, and a new global exchange takes over.

    Of course, individual states in the United States can also make similar moves, and thereby stave off the effects of bankruptcy and potential currency collapse in the foreseeable future.

    Would states see a return to prosperity and independence if they used sound money and avoided the debt trap and control instrument of the Fed?

    The answer should be obvious, but many would be surprised at how it plays out, if it were allowed to happen.

    If states and foreign nations are putting this much stock in gold, given their knowledge of economic events yet to unfold, should you be placing your trust in gold, silver or other precious metals as well?

    Keep your eyes on Utah… and if it takes hold there, other states that want more freedom.

    Read more:

    Texas Signals New Gold Rush: “Governments Have Lost Trust in New York Depositories”

    The Ultimate Call: Will Federal Reserve Be Caught Without Gold in ‘Repatriation Rush’?

    University of Texas Takes Physical Delivery of $1 BILLION In Gold

    Uncertain In 2017? Analysts Expect “Silver and Gold Rally Under Trump”

    Click here to subscribe: Join over one million monthly readers and receive breaking news, strategies, ideas and commentary.
    Advanced Tactical Gas Mask
    Please Spread The Word And Share This Post

    Author: Mac Slavo
    Views: Read by 13,617 people
    Date: February 7th, 2017
    Website: www.SHTFplan.com

    Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

    74 Comments...

    Vote: Click here to vote for SHTF Plan as a Top Prepper Web Site
    1. Utah May Soon Dump Federal Reserve: “Put Trust Back in God and Gold, Rather Than Central Bank”

      So … I guess the next step for the Military Industrial Complex is going to carpet bomb Utah back into compliance?

    2. Genius says:

      From what I read a while back Utah already accepts gold and silver as payment for state debts. As far as Texas getting their gold back… Good luck with that, you leave it with the thieves and expect it to still be there? Not to bright imo. GO UTAH!

    3. Good idea.

      Maybe we will see the other States jump on the bandwagon. This seems like a practical approach. Not too abrupt or disruptive. Just another option. Very good.

      __

    4. Four Star says:

      I’m restoring an automatic transmission on barter, no Fed crap. I love this stuff.

      It’s easy, valuable, and I get things done without being robbed of the fruits of MY labor.

      Next, I will repair a “stupid” Smart TV and then maybe a furnace.

      • Plan twice, prep once says:

        When I was young I had no fear.

        I needed to rebuild my 4 spd. manual transmission. Second gear was gone and it was the middle of winter, and the best mechanic I knew said don’t even try it!

        This sucker weighed 250 pounds and I weighed 140 lbs soaking wet in those days, I slung it on a chain and carried it into my basement. One misstep and I could have been crippled for life!

        As I took it apart hundreds of roller bearings fell free. I used magnets to retrieve every last one of them, a new second gear and synchromesh cost about $150.00, a ton of scratch for me in those days.

        I glued the bearing pins back into place with wheel bearing grease, and reassembled it. Each bearing has an outside shaft diameter, and if you calculate the circumference and bearing pin diameter you can calculate the number of pins per gear as well as use a caliper to sort bearing pins by diameter and thus even a fool can reasemble a transmission with hundreds and hundreds of parts! LOL.

        After happily reassembling my Transmission, I lugged it back to the car, attached it to the engine, and put it all back into the car.

        It ran for another 100,000 miles. A miracle for a car made in the 60’s. When I finally gave up that car, my first love up, it had 310,000 miles. In those days you were lucky to get 75,000 out of a car.

        The lesson I learned, you can’t out run rust!

        I have never put so much love into a piece of steel since. In retrospect it was such a waste. Only flesh and blood and love of family is stronger and more durable than steel. If you want to live forever, have children and encourage them to have children. Let the lord handle the rest.

    5. TnAndy says:

      No State shall….make any Thing but gold and silver Coin a Tender in Payment of Debts;

      The States don’t need to pass any laws….they simply need to follow what they agreed to do when they accepted the US Constitution as law….PAY THEIR STATE DEBTS IN GOLD AND SILVER COIN.

      You’ll know Utah, or any State, is serious about metals when they go back to following the Constitution, and start forking over gold and silver instead of paper check denominated in banker scrip, or direct depositing ‘money’ in accounts of folks owed real money by the State.

      Until that time, this is all just horse manure.

    6. rellik says:

      I’m not much of a PM guy, but you all know that hands down America has the largest stash of Gold by a long shot.
      The one problem with PM, is what is it worth?
      Unlike like this “paper” stuff we use daily, the value
      changes from day to day, so essentially, outside industrial
      uses PM’s are no better than the FRNs in my wallet.
      Now everyone is fascinated by gold. but the other day I traded
      15 rounds of .22LR for several pounds of pork and Ahi. Actually
      I just gave them the cartridges and they gave me food for
      helping them out.
      Gold or silver would have not meant a damn to either of us.
      Lead, brass, powder, and food does.

      • Genius says:

        Comment ID: 3661850
        February 7, 2017 at 6:36 pm
        I’m not much of a PM guy, but you all know that hands down America has the largest stash of Gold by a long shot.

        SERIOUSLY? Where did you get that from? We have shit! Our gold was stolen long ago!

      • Oldgoat69 says:

        It is possible that the US has a large stash of gold, but most experts tend to believe that it has either been sold or leased to other entities many times over(think of 1 oz owned by 500 people). Audit the fed to find out. This is more than likely the reason they won’t allow an audit.

      • durangokidd says:

        According to the experts (USGS) only about 1/3 of all gold in America has been discovered and mined. Primarily for three reasons:

        1. FDR shut down the gold mines during world war II and a generation of gold miners were lost to the new, construction economy after the war.

        2. Nixon took America off of the gold standard, shutting down demand for the yellow metal.

        3. The NWO PTB determined decades ago to exploit the natural resources of the Third World, FIRST, before using our own.

        Its out there. Learn how to find it and move your hiney to find the shiny. 🙂

      • Plan twice, prep once says:

        Rellik,
        I don’t think you have any knowledge of how little PM’s the US still has in its vaults.

        The likes of Clinton and Obama have been emptying the Treasury for decades. There’s little left.

        • Zeus says:

          Silver in the US is in a Huge Shortage of Supply. Here are the Facts: Go to this article link below.

          Article: This chart shows that the U.S. relied upon 72% of its domestic silver demand from foreign sources in 2015. Thus, U.S. silver supply reliance (72%) is double that of copper (36%), while U.S. gold demand enjoyed a 48% surplus versus its domestic supply.

          Silver demand in the US: From 2010 to 2016, investors purchased a total of 1,505 million oz (Moz) of silver bar and coin compared to only 284 Moz of physical gold. Thus, precious metals investors purchased five times more silver ounces, than gold ounces during this seven year time period.

          Which means, physical silver investment demand is causing much more stress on the silver market than it is on gold. While the silver market has been able to supplement the annual deficits with old silver coin stocks or large bars that were liquidated during the 1990’s, this is not an endless supply.

          And here is the CLINCHER. From 1985 to 2007, the total net silver bar and coin demand was a NEGATIVE 95 Moz. Which means investors sold a net 95 Moz of silver bar and coin in that 23 year period. However, investors purchased a net 1,785 Moz of silver bar and coin from 2008 to 2016. This is a huge TREND CHANGE.

          Source: https://srsroccoreport.com/silver-market-set-up-for-much-higher-price-move-than-gold/

          More than 50% of US Silver demand is used for industrial Uses. And that trend is not going to go down anytime soon, with the advancement of solar panels and electronics.

          So if you are looking for a Great PM play, Buy Silver over Gold. As Silver is going to soar to the moon as the supply greatly decreases.

      • Kevin2 says:

        rellik

        Barter is great for local small needs. Firewood, fresh food and the like. Need a car part from the auto store and negotiating a hind quarter of beef in place of $200 isn’t going to get too far. Gold in a pinch has ready convertibility to cash if necessary.

        Defense in dept would be the best solution. Grow your own everything, repair your own everything, salvage everything of value and very importantly own everything you have.. Have currency both hard and fiat.

    7. TPSnodgrass says:

      I live in Utah at present, that bill has not YET, made it out of committee. Contrary to popular belief not that many of those who are actively involved in the LDS faith(Mormon) have all that much in the way of food storage, nor do as many as you might think. Have firear,s with which to defend themselves from predation.
      Outside of Utah, far different story, the normalcy bias is alive and well here in Utah in spades unfortunately.
      We look at precious metals as a means of wealth protection, not as THE main means of exchange.
      And yeah, we are heavily invested in the precious metals of brass, lead, primers, powders and reload a great deal.
      I believe in being self sufficient as possible and in not being a burden on society, yet, I’ve little to no patience for my neighbors who say THIER family preparedness plans include coming to our home! My response is, “Well you will die at the bottom of the hill with everyone else who thinks like that!”
      We’ve worked significantly hard for our family’s well being and our being able to sleep through life’s storm, rhetorically speaking, to have slugs showing up and expecting our family to sacrifice even more for the grasshoppers of society.

    8. Sgt. Dale says:

      I don’t know this sound just too simple. But sometimes the simple things are the best things!!!!

      Going back to Gold. The problem is a piece of gold the size of a pencil eraser is about $1000.00. What are you going to use for small amounts?

      Remember there is 49 other states that aren’t doing this. It just sounds nice but can it be pulled off????

      Sgt.

    9. Lone wolverine says:

      I wonder if it’s like. Borough a million dollars from a loan shark . Then hire a hit man for 50 grand to wack the loan shark and keep the rest? WW3? Will probably be the wack reset? Isn’t it obvious ? Fill your lamps?

    10. Lone wolverine says:

      These money changers have had it all . The banks the media ,Hollywood . But the Internet has revealed the children of Satan. And in desperation and retaliation . They will kill the Czar and his ministers as Anistatia screams in vain? WW3?

    11. RSDallas says:

      I’m all for this and further for the break up of the Federal Reserve. One thing however, is that 1 Billion of Gold for Texas doesn’t mean much considering our GDP is +-1.4 Trillion, so I’m not sure this makes us any more safe and secure????

    12. anon says:

      Mac Slavo

      Is there something wrong with your server. Very hard to get on your site.

    13. So you think Ft. Know and other US depositories are stacked with Gold.? I got some ocean front property to sell you in Nevada. Just as the social security “trust” fund was confiscated, so has the gold. Its been leased or sold, just as money has been printed. That is, for every ounce of gold in the vault, there is over 100 ounces of gold sold on the paper market. In other words, a Ponzi scheme. The fed will “eliminate” anyone that attempts to audit or impede there monopoly on the financial system. Just ask (4) presidents who were assassinated for trying. They are the most powerful entity on the planet, and truly the ‘wizard behind the curtain’…..!!!!

    14. They already said this years ago. Old news.

    15. Beaumont says:

      Change the dollar symbol to any character, pictograph, or algebraic variable. Say it represents shiny rocks, wampum shells, or girl scout cookies.

      You still get inflation, for so long as creditors are allowed to imagine more currency than actually exists.

      We have nouveau riche illegals, getting their luxury cars repo’ed, in rush hour traffic, white trash, who buy-up the McMansions, as though money is no object, and prices will be decided by those people.

      You frankly can’t explain the tacky garbage, being bought by the 99%, in a world where limits and responsibility are imposed, by a fixed currency.

      So, financial contractions are typically assumed to be catastrophic, along the lines of a Malthusian survival situation.

    16. Fatso says:

      Federal reserve is illegal and unconstitutional. And what has created all this debt.

      Created by the progressives over a hundred years ago to boil the frog slowly and bring ruin to the Constitution and destruction of America.

    17. Donald Canaday says:

      I am commenting on Utah issuing their own currency.the counterfeit clause by act of Congress approved June 3?1964?guilty of felony and subject to a fine. On legal tender issues of 1917 series this clause reads” counterfeiting or altering this note or passing any counterfeit or alteration of it…is a felony and is punishable by a $5,000 fine or 15 years imprisonment at hard labor or both”. Above resource page 10″paper money of the United States,fifteenth edition by ArthurI Friedberg and Ira S. Friedberg COngress Catalog card no. 86-070306.Isbn 0-87184-516-6. Issn 1099-9981.

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