Legislation proposes Utah adopt a gold-based system

Posted: January 9, 2011 in Current Events, Gold, Precious Metals

The Federal Reserve is going to hate this proposed Utah Legislation.  From The Salt Lake Tribune

A proposal in the Utah Legislature would require the state to allow just that, requiring government agencies to accept gold for transactions, and creating a parallel monetary policy for intrastate commerce tied to the price of gold.

Under the legislation that has been drafted, Utah residents could mint their own gold or silver coins, a storehouse would be created to stockpile the precious metal and the Utah Defense Force, an arcane state militia that may be called and armed by the governor, would be responsible for securing the inventories.

Full Article Here

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