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Arizona Makes Gold & Silver Legal Tender

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Arizona follows Utah’s lead by making gold and silver legal tender.  More than a dozen states have considered similar moves in the last few years. This is a further kick in the stones for people’s faith in the US dollar since Central Bankers have gone full retard with the printing presses. At least now in Arizona there is an alternative that cannot be inflated so easily. Watch this space as more will undoubtedly follow.

 

PHOENIX (Reuters) – The Arizona Senate on Tuesday approved a measure to make gold and silver legal currency in the state, in a response to what backers said was a lack of confidence in the international monetary system.

The legislation cleared the Republican-controlled Senate by an 18-10 vote after being approved by the state House earlier this month. It now goes to Republican Governor Jan Brewer, who has not indicated if she will sign it into law or veto it.

The bill calls for Arizona to make gold and silver coins and bullion legal tender beginning in mid-2014, joining existing U.S. currency issued by the federal government.

If signed into law, Arizona would become the second state in the nation to establish these precious metals as legal tender. Utah approved such legislation in 2011.

More than a dozen states have considered similar legislation in recent years, according to the National Conference of State Legislatures.

The use of gold and silver as currency would be strictly voluntary, with businesses left free to accept the precious metals as payment for goods and services as they choose.

State Senator Chester Crandell, a Republican and sponsor of the bill, said the ability to use gold and silver in everyday life in the state is still a “work in progress” and that more legislation was needed before it could be viable.

“This is the first step in getting it into the statute so we can build on it,” Crandell said at an earlier hearing on the bill.

But Democratic state Senator Steve Farley said the bill could create massive problems for businesses in the state and government officials trying to administer what would in effect be a dual monetary system.

“There’s no reason for us to do this,” Farley told lawmakers during the final vote on Tuesday. “This is another one of those things that gets national press for us – and not in a good way.”

He also pointed to the recent decline in the value of gold – which sank to $1,321.35 per ounce on April 16, its lowest price in more than two years – noting that “anybody who thinks gold or silver is a really safe place to put your money had better think again.”

The push to establish gold and silver as currency has become increasingly popular in the United States in recent years among some hardline fiscal conservatives, with the backing of groups including the Tea Party movement, American Principles Project and the Gold Standard Institute.

Keith Weiner, president of the Gold Standard Institute advocacy group and a supporter of the bill, said the legislation was needed to counter what he sees as insolvency in the global monetary system.

“The dollar system and all of the other derivative currencies, including the euro, are a recipe for worldwide bankruptcy,” Weiner told lawmakers at an earlier hearing, adding that a “sound and honest money system such as gold and silver” was needed to bring stability.

Source: Yahoo

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Russia Introduces Gold And Silver Coins As Legal Tender

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A smart move by Russia to issue gold and silver coins as legal tender. Its another blow to the confidence of fiat currency. The Central Bank of Russia said:

The coins are legal tender cash payment in the Russian Federation and must be accepted at face value in all kinds of payments without any restrictions

 

It seems 2012 is not yet done with its surprises. The Central Bank of Russia has issued three values of bullion (300,000 31.1g silver pieces with a 3RUB face value, 300,000 7.78g gold pieces with 50RUB face, & 100,000 15.55g gold pieces with a 100RUB face value) that can be used as legal tender beginning, well,  TWO DAYS AGO! If you don’t yet understand the ramifications of such a move, don’t worry, it’s not too late. But you want to begin reading now – starting with the history of metals as money. The clock is ticking and no one knows when the the current economic model’s Duracell will die. Hell, we don’t even know if it’s a AAA, AA, 9V, C size, or D size battery. Every year there seems to be the establishment of new institutions with the capital to lend more. In my book these sizes don’t matter. I think we’re already on the Duracell Rechargeable model. But we all know they don’t last for ever either.

The link from the Central Bank of Russia is at : http://www.cbr.ru/pw.aspx?file=/press/if/121217_164427monet1.htm

Sourc: sandeproject.wordpress.com

An Irishman’s Legal Bid To Stop Government Paying Out Billions For Non Existant Bank

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When Anglo Irish Bank went to the wall the previous Irish government put promissory notes into the bank to the tune of €31 billion and insisted the irish taxpayers paid its debts even though it did no buisiness with Joe Soap, just developers. Now the bank has been wound up and the new government insists the irish taxpayers continue to pay yearly these promissory notes, in a callious move to support the bank against the wishes of it own people.

Now a hero has stood up in David Hal, who is taking a legal challenge against paying back this €31 billion just as the Irish government is about to make a payment  at the end of this month. In the meantime the Irish governement is trying to get a solution with the ECB on these promissory notes to lock the Irish people into paying these as bonds at which it would be impossible to get out of. Its good to see somebody stand up to the banks after its government sold them out. 🙂

While the story was run on Newstalk radio today, a quick look at the Irish MSM shows no coverage. The original story was broken on reuters.

Activist seeks declaration that promissory notes illegal

* Says 31 billion promissory note not approved by parliament

(Reuters) – An Irish activist on Monday launched a legal challenge against a 31 billion euro ($41 billion) promissory note issued by the government to bail out two collapsed banks, saying the scheme was not approved by parliament.

The move comes amid talks between the Irish government and the European Central Bank on a possible refinancing of the notes, used to bail out now-defunct Anglo Irish Bank and Irish Nationwide Building Society.

A 3.1 billion euro repayment on the notes is due by the end of the week, and the government is exploring ways to delay the payment after a groundswell of opposition. The first repayment was made last year.

David Hall, the founder of an organisation that gives legal advice to struggling mortgage holders, on Monday applied for a judicial review of the scheme in the Irish High Court, according to documents presented in court.

Hall argued that the government’s decision to issue the 31 billion euros of promissory notes violated the constitution as it failed to secure parliamentary approval.

The papers ask the court for a declaration that the promissory notes “are of no effect and void.”

Senior Counsel John Rogers, a former attorney general of Ireland, is representing Hall. The High Court will allow the government to respond to the application on Wednesday.

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