Monday, May 23, 2011

Now, this is interesting: Gold as cash!

There has been a lot of talk about buying gold bullion as a hedge against inflation. That a state government would alter its laws to permit this is astounding.

What this does is repudiate the current practice of governments paying off their debts by printing more paper money backed by nothing tangible. This effectively forces those at the bottom of the economic chain (that's you & me) to pay for government excess by accepting the new lower value dollars as our wages.

Keep an eye on this to see if Utah is allowed to get away with it.

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