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| Arizona could soon approve gold, silver as legal tender |
| 2013-03-22 |
| [MINEWEB] Arizona could soon become the second U.S. state to recognize gold and silver as legal tender if the Arizona House approves SB 1439. They're gonna need to put up charts converting dollars to ounces, updated daily. The bill has already won the approval of Arizona's State Senate and the Arizona House Financial Institutions Committee which voted the legislation out of committee on a 4-2 vote Monday. The measure now goes to a vote of the Arizona House. Thus far, only the State of Utah has officially recognized gold and silver as legal tender, although the issue has been under consideration this year in four states including Arizona. The Arizona bill defines legal tender as a mode of paying debts and taxes. The measure also states that any coin or bullion that has gold or silver content and is issued by the United States Government can be defined as legal tender. However, no one can be compelled to accept coin or bullion containing gold or silver. The measure would also mandate that coin or bullion containing gold or silver issued by the U.S. Government cannot be taxed as property since it is to be considered money. |
| Posted by:Fred |
| #12 Tipper: "sell it into the currency you are using" I think my point is made. |
| Posted by: Muggsy Mussolini1226 2013-03-22 14:08 |
| #11 Here you go, Barbara, http://en.wikipedia.org/wiki/Bitcoin It doesn't explain how to buy in, either that or I'm not up to speed on SuperHighway jargon and missed it. |
| Posted by: Injun Stalin7884 2013-03-22 13:46 |
| #10 Bitcoin: the problem is spending it. Not really MM. BitCoin is both a store of value and a means of payment. Simply sell whatever number of BC's into the currency you are using and use that for local purchases. |
| Posted by: tipper 2013-03-22 13:17 |
| #9 ...pay me my income tax refund in gold or silver coin? They got around that for quite a while with 'silver certificates', and then chose not to enforce the provision [you know, like immigration control] when they shifted to federal reserve notes. See Coinage Act of 1965 |
| Posted by: Procopius2k 2013-03-22 12:59 |
| #8 Bitcoin: the problem is spending it. |
| Posted by: Muggsy Mussolini1226 2013-03-22 12:11 |
| #7 make anything but gold and silver coin a tender in payment of debts So does that mean Louisiana has to pay me my income tax refund in gold or silver coin? |
| Posted by: Glenmore 2013-03-22 11:39 |
| #6 US Constitution, Article I, Section 10. No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility. ..but hey, its a two hundred year old document written by a bunch of old white men that really doesn't apply today /sarc off |
| Posted by: Procopius2k 2013-03-22 11:34 |
| #5 Can the states mint their own coins? |
| Posted by: Ebbang Uluque6305 2013-03-22 11:16 |
| #4 Good luck if the net goes down. Rob, isn't the net designed NOT to go down? |
| Posted by: tipper 2013-03-22 10:54 |
| #3 What's wrong with bitcoin? Good luck if the net goes down. |
| Posted by: Rob Crawford 2013-03-22 10:15 |
| #2 "Wot's wrong with using Bitcoin?" I dunno, tipper. What's Bitcoin? |
| Posted by: Barbara 2013-03-22 08:57 |
| #1 Wot's wrong with using Bitcoin? My little investment is up 30% in the last 3 days and 300% in the last 18 months. Sure beats gold, silver or Central Bank ponzi currency. |
| Posted by: tipper 2013-03-22 03:47 |