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”
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?
Ya Utah is bordered by Nevada and Colorado, both have a shitload of military bases. Might not be too good 🙁
Unless they “accidentally hit the NSA megacenter lol.
Twice
Thanks, but I will put my faith into Tangible Assets. Like Gold & Silver, Guns, Brass & Lead nutrients. The rest shall fall into place quite nicely.
I thought your faith was in the “gold backed Yuan”. What happened ??? Did you finally figure out that the Yuan is not “gold backed” and never will be ???
Zeus: Is this “fake news” from Zero Hedge ???
Yuan Extends Plunge After PBOC Weakens Fix To 3-Week Lows
That’s the headline. The body of the fake news says that the PBOC is “FIXING” the Yuan …. as in PEGGING !!! Is Zero Hedge creating false news again ???
LMFAO !!! Send that Franklin to the Semper Fi Fund in my name. 🙂
Fixing is not Pegging. Almost every currency is being devalued. Italy is dumping the Euro. I told you already the Globe is in a currency war. The biggest war out there is inflation chipping away at moneys value, and its loosing credibility. And why countries like China are looking to back up its currency with gold.
DK. You alrealdy lost the bet weeks ago.
Pay up deadbeat. Lol
Germany has been waiting for 3 years to get their Gold back. Texas waiting for 2 years. Sorry folks there is No Gold left in the vaults to get back. Thats why the US invaded Libya to steal their Gold. Uh..melt it down re-mold it and stamp Germany on it.
If States and Counties were smart, they would be accepting Gold and Silver now as payment for Taxes, property Taxes, license plate fees and every other payment in Gold n Silver to start stacking for this. The US is so short on Silver it imports over 70% of the supply right now from foreign sources. Silver is about to breakout HUGE on the UpSide in price.
This is a really good article for Silver investors to read. https://srsroccoreport.com/silver-market-set-up-for-much-higher-price-move-than-gold/
Sweden: Top Cop Hits Breaking Point, Tells The Truth About Migrant Crime
02-07-2017 • http://www.dcclothesline.com, by Chris Menahan
He said nearly every crime in Sweden is committed by a foreign refuge.
This is th epllan folks to destroy nations and cultures by flooding these great places with dirty scumbags. We need to destroy the chaos makers ASAP.
Gold in Ukraine
Put on a big plane
Where it went.
We wonder not in vain?
Why stop there?
Look at this Map of the Impact Fukushuma Nuke disaster has on the Pacific Ocean. Fish are washing up on shore down in Chile with high levels of radiation.
Devastation: http://www.freedomsphoenix.com/News/212256-2017-02-07-northern-hemisphere-potentially-in-great-danger.htm?From=News
Genius, that NSA megacenter needs to be hit worse than anything else.
Won’t work, all those Mormons have guns food and shelters. ( Oh sorry to cut thread but I am unable to get on to Calguns net to tell them Alabama has a new constitutional carry law introduced into the Senate any of you posters might tell them)
Paranoid, true many Mormons have guns but, My friend (a Mormon) said he did a preparedness thing at his church. He told me at the very most maybe 15% of them were prepped at all. He also told me that the pastor (or whatever he is called) instructed those that had prepped that in case of shtf they were to bring all their stuff in for redistribution lol. Guess what he told them ha ha ha.
And they complied like good little sheeple? Stupid does stupid.
Stormin Norman was a Mormon
and every month he’d pay
In hopes that he would find his grace and see his god someday
then one time a bad thing happened the shit had hit the fan
he went down to the church and sacrificed his plan.
He gave his preps for the masses of dumb stupid ignorant masses
He was thanked and left alone to his desert trailer home
and when he was hungry he had no food, a broken brainwashed fookin boob!
You’ll find higher than average intelligence among the Mormons, but this is often accompanied by a lack of critical thinking skills (why else would they be so submissive to such a ridiculous cult?).
Mormon Bishops make it clear that members will be “required” too submit their one year food supply for redistribution. Ditto your home may be required to take in others.
Always knew there was a good reason for me to avoid Mormons.
Mormons will eat their own. Thats why they had so many wives as backups. Read all about the Donnar Party. Winter of 1846-47
https://en.m.wikipedia.org/wiki/Donner_Party
WHAT…I was a Bishop for 8 years and never once made such a claim….
It’s called a bishop lol and my moms told her the same thing! The I told my mom it’s always great to have faith but I think god would rather you get yourself ready then help others learn to get themselves ready and if they don’t want to help themselves well that sucks for them now doesn’t it and she agreed
Think OPSEC, they don’t tell you all they know. Mormons have a much higher percentage than that who have roughly a years supply of food stored. As a former contractor, who has done work in Mormon homes, I can verify that to be the case.
Blessings,
Son of Liberty
This will be good news to part time prospectors and gold mine owners; stocks, not so much. 🙂
GREETINGS, RACE DENIERS
https://www.amren.com/news/2017/02/tunnels-oppression-expose-privileged-students-dehumanization/
STUDENTS TAUGHT TO RECOGNIZE THEIR OWN PRIVILEGE BUT NO ONE IS EVER ASKED TO RECOGNIZE RACIAL DIFFERENCES IN IQ OR CRIMINAL PROPENSITY (WHICH ARE ACTUALLY QUANTIFIABLE AND REPRODUCIBLE PHENOMENA)
https://www.amren.com/news/2017/02/racial-equity-department-of-education-black-crime/
SUSPEND ALL SKOOL STEWDANTZ IN PROPORTION TO THEIR RACE
http://www.reuters.com/article/us-china-internet-idUSKBN15M09R?il=0
CHINA THINKS ITS INTERNET ISNT CENSORED ENOUGH
WHY THE FUCK DO THE CHINKS DESERVE TO COME TO AMERICA????
WHITES GIFTED THEM WITH SINGAPORE, HONG KONG, MACAU, TAIWAN
AND THE FUCKING GOOKS PROMPTLY START TRYING TO TEAR THEM DOWN AGAIN
ONLY FUCKING WHITE PEOPLE BUILD NICE PLACES TO LIVE!!!!!
Yes I wondered about that, Central bankers did take down countries for that. Also I would better watch out if I were that senator
The Other thing is, In order to have paper money even if it is backed by gold, that still means hoarding the gold keeping it in vaults, and printing money against it. That’s still fractional system through lending and collecting interest which eventually inflate money. Same old Babylonian crap the golden calf
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!
Italy has been trying to get their gold back for years.
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.
__
Ya just like they did to us, 1 step at a time.
I’d rather place my hope in something more realistic like hitting the lottery.
How goes it ‘ol boy? Hope you and yours are well!
Doin’ good my man. Another month and a half of work to go. Then back to the mountains. Whiskey is holding out, lookin’ forward to more! Get to play with my new toys. Hope you and yer’s are doin’ good too 🙂
Hitting the lottery is far from realistic.
(A little sarcasm) But so is every other state following Utah’s lead.
dude quit knockin my retirement plan
Trump put six Goldman Sachs people in, they will object.
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.
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.
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.
It does help protect the state from fed res. bankruptcy. In this world it is a great step.
That’s nice, it assumes your state like Utah has a natural supply of gold to mine.
What does that do for the other 49 states?
NC has gold mines. We used to have a mint here. The gold mining companies left, but there’s still some gold here. Every one of the top 100 commercially important minerals has been mined here.
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.
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!
Stolen and replaced with tungsten.
The largest stash of gold by far is in the hands of the Indian people (Dot not arrow) The question of if the US still has it’s Gold is valid; and it’s likely China has a larger one.
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.
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. 🙂
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.
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.
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.
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.
TPS, How’s it going with the effort to get rid of the BLM?
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.
Small Amounts= Silver Dumbass.
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?
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?
Lone,
You are brilliant.
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????
Mac Slavo
Is there something wrong with your server. Very hard to get on your site.
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’…..!!!!
(((They))) are so powerful that (((they))) cannot be named.
No one knows who (((they))) are. (((They))) don’t even know.
I render assistance, during emergencies, at my own peril, and am learning to drastically increase the productivity and growing range of economically-important crops.
Could you please take Ambassador Peewee and Mekudeshet back?
Also, when you put this userid in parentheses, do I get my choice of some trendy ascii symbols, too?
Who said . If you want to know the enemy . Ask who you cannot criticize . And we all know who that ((( IS )))?
They already said this years ago. Old news.
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.
How about pick one of these symbols nelow as the New US Dollar Currency symbol.
θ
Ω
§
¿
:-$
ฯ
￦
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.
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.
In theory, microcurrencies can bypass the law, by not calling themselves FRN’s or dollars.