I watched a clip from the Kudlow show. After watching the video seen here... http://www.youtube.com/watch?v=r4UhROtlz_0 This was my response: FIRST OFF KUDLOW for a newsman you're not very wise. Gold and silver coins that were minted in the U.S. HAVE ALWAYS BEEN LEGAL TENDER NO MATTER WHAT THE AGE OF THE COIN! It's just that in today's modern age you don't see folks paying for and HD TV with an 1879 S 10.00 Gold Liberty coin. YOU COULD YOU CAN, but chances are most folks wouldn't know a real gold or silver coin if it hit them in the face. they'd yell FOUL! And calling it a "revolt"? Nice BUZZWORD this is NO REVOLT it's the norm now. What are your guy's comments/thoughts?
It's difficult to speak intelligently on the issue without knowing what the specific language in the Utah bill is/was. From listening to those two I suspect they do not know what the bill actually says either. You are correct that US gold and silver coins have always been legal tender (With the exception of the Trade dollar for awhile). Now if the bill simply states that gold and silver coins will be recognized as legal tender then it is a piece of meaningless legislation. My understanding of most of these proposed laws is that it will permit gold and silver coins to be accepted as legal tender AT THEIR BULLION VALUE.) In other words if you brought in silver coins with a bullion value of 28X face to pay your taxes they would be accepted as a legal tender payment at 28X their face value.
