Utah to vote on adding gold and silver to a recongnized currency

If people can't deal with fluctuating values, then they can't have gold and silver as money. This was tried and it didn't work.

 

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All currency fluctuates in value. This is not the problem. The deficit is the problem. Paper money only lasts 5 years, coins 30.
This law in Utah would have been a mistake if passed. Utah residents would not want to use these coins any more than any other state. Polls have been done and most people said they would use a dollar coin if the knew it saved billions over time. The people will not vote to waste precious metals on coins for circulation. This is why all copper will be removed from all new US circulating coins very soon. I think 2014 may be first year.

 

Thats a new one. Haven't hears a thing about those plans. I can see them doing so with cents, but not quarters and dimes as their copper content is well below face and alternative metals wouldn't save much on those, if any at all. Copper is still very cheap compared to most metals.
Guy

 

I guess I don't follow any of this? With the dollar still in place as national currency, what's the point of being able to pay taxes in gold or silver. Isn't everything still based on an advanced barter system with whatever currency just used to make everyday transactions more convenient? I mean if an ounce of gold is worth $1500, and your tax bill is $1500, and you have fifteen benjamins, who in their right mind would pay with real money when the government still accepts currency.
I just see this as ploy for the government to stockpile real money through the front door while shoveling out more paper currency out the back.

 

I see it more of a simple, cheap political gimmick. How much of these grandios plans have you heard more of in the last couple of years?

 

This post was several years old to begin with. I guess no one looks at the date of these any more. You will need to reseach some old articles to find out what happened in Utah. It obviously had no effect on our money policy.

 

That was my point sir, it was an old OP, but nothing ever became of the idea. Basically the age of this thread was proving what I was saying.

 

Plus one on that medoraman. I wasn't refering to you. Note the post titled "warning" 3 below this one.

 

I like the idea of a non-redeemable currency backed partially by gold/silver/other PMs. Seems like it'd help stabilize things, right? Thoughts?

 

It would just devolve into another scam. If it's non-redeemable, it isn't backed.