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

by Mac Slavo, SHTF Plan:

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:

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.

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

  • d

    ALL paper currencies revert back to what they really are to used for….wiping your ‘asshole’…..as they reflect the people that invented them….imho…

  • AgShaman

    If the states want to be taken seriously about getting back to sound money set forth in the constitution….they will need to stop “channeling” Shylock and realize a real discussion needs to be had about assessing “value”. Under the present system….soylents will get fleeced via phoney pricing and a market that has never seen true price discovery.

    I don’t trust any of these states. I’m sure they would love to collect “tribute” at current prices. The Debt Clock would be a good place to start the bidding process that needs to happen…outside the reach of the vampire squid and the manipulations we have endured while being their hostage.

    One or two silver rounds should be sufficient to clear out your state’s slave requirements…if not, they are just another grifter looking to supplant a dying parasite.

  • Windrunner58

    Not going to happen. Might have to send in the Military to install “US Democracy”, or does that only apply to countries that don’t wish to use the USD???

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