Washington State proposed bill to make gold and silver legal tender

Discussion in 'Bullion Investing' started by GreatWalrus, Jan 31, 2012.

  1. GreatWalrus

    GreatWalrus WHEREZ MAH BUKKIT

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  3. medoraman

    medoraman Supporter! Supporter

    So basically every day the state would post the value of an ounce of PM based upon markets. So you could pay a bill for $66 with two ounces of silver. This is not money, this is basically forcing the state to accept payment in commodities. Its just like if Iowa passed a law accepting corn for payment of taxes, or Wisconsin accepting cheese for payment.
     
  4. Cazkaboom

    Cazkaboom One for all, all for me.

    I'll gladly pay in corn or cheese! :p
     
  5. fatima

    fatima Junior Member

    No I disagree completely. As the article states, Gold & Silver are Constitutional or rather lawful money. Cheese isn't. The proposal is simply for the state to revert back to accepting lawful money as legal tender as it did a century ago.
     
  6. medoraman

    medoraman Supporter! Supporter

    I knew you would, but how is something that is priced daily based upon commodity markets "lawful money"? Now, if they passed a law accepting ASE for $50 worth of state payments, then THAT would be payment in "lawful money" in my eyes.

    Just my opinion.
     
  7. lilrud

    lilrud New Member

    I think we should go back to using beads like they did for hundreds of years. Silver and gold is not money. How about using platinum or palladium or lead or copper or.....
     
  8. james m. wolfe

    james m. wolfe New Member

  9. fatima

    fatima Junior Member

    The dollar itself is priced daily on the commodity markets against other currencies.

    It's lawful money because it's specified in the Constitution.
     
  10. noob76

    noob76 Member

    how would this even work? i mean can i just bring in an unmarked lump of gold or silver and demand the kid at the grocery store accept it.
     
  11. yakpoo

    yakpoo Member

    I would accept it... :apu:
     
  12. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    ha ill trade you 2 wheels of brie for 50 lbs of grits,,lol..
     
  13. GreatWalrus

    GreatWalrus WHEREZ MAH BUKKIT

    I rather give them my toilet paper *cough* i mean dollar bills. Silver is so shiney.
     
  14. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    technically its fiat, what would be considered currency is anything backed by or redeemable for gold and silver at trade of in any bank according to the constitution but rules change..
     
  15. InfleXion

    InfleXion Wealth Preserver

    The US Constitution is clear that only gold and silver are money, but they can be commodities too. Everything is priced in something else regardless of labels, but this is not equivalent to buying and selling with any other commodity.

    I am stoked about this bill, being that I am a Washingtonian. As soon as the entire nation is on the same page then the good money will drive out the bad, and we can say goodbye to monetary debasement. WIN
     
  16. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    im buying some yellow cake.. any one wants to go split with me ??
     
  17. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

  18. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    heres one will the u.s. the rebase there currency on gold n silver standards...???
     
  19. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    ill trade you 2 cats for a months worth of power and one car for your wife
     
  20. AlexN2coins2004

    AlexN2coins2004 ASEsInMYClassifiedAD

    I'll trade a quart of pace picante sauce for 5 pounds of tortilla chips...then I'd still have a quart of salsa and chips too!

    I also have a 20+ pound Maine coon cat that would make a good fur hat or a pair of gloves..I can't say he's got alot of meat on him...any offers of barter?

    :D
     
  21. mill rat41

    mill rat41 Member

    I never understood how this can work. If I pay my state income taxes with one gold eagle and 2 rolls of silver eagles, what happens to the state if the value of PMs plummet? How is the state gonna meet its financial obligations when they are paid in something that changes in value everyday? True that our fiat money changes in value all the time, but only a few percent per year. PMs can move tens of percents per year.
     
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