Utah now has a law that is the first step toward a Utah monetary system based on gold and silver: merchants are encouraged to accept gold and silver coins for purchases. New York Times article: http://is.gd/rQGriz

...separation between state and religion? Seems the fundies and mormons are always eager to sneak in theocracy from the backdoor. They want the government to not tax these new emergent economies but you can bet safely that they sure as hell will take tithes. And the mormon church will have yet another shield against financial transparancy.

IF this catches on... Utah has a sales tax, the U.S. has an income tax.
You can bet some ppl will use this as a tax dodge; it will drive accountants & lawyers CRAZY!

This is another version of the Barter mentality, isn't it?



Edited 2 time(s). Last edit at 05/30/2011 11:58AM by guynoirprivateeye.

REally?

Are employers ( including tscc) going to pay employees with metal?

what company is Ut's biggest employer? Intermountain Health!
think .... how much metal values w/could fluctuate between the time of an operation/procedure and a couple weeks later when the bill is sent! Between the time an employee works & when their pay is ready!

NONSENSE!


tscc? (not listed)
the Federal Gov't? (Hill AFB, Postal service, FBI-CIA-IRS
YBU? They're on the list, near the top...

how many of those will pay with metal?

Will people take metal to pay the mortgage (denominated in ?);
the electric bill, gas for the car?

Imagine the NIGHTMARE of taking a vacation paid for by...Metal!
How much metal to... see a Movie; buy a meal, buy tires?

HEADACHE!


rt: IF you think Printing money is expensive... just think about the costs of trading with metal, AND the liklihood of Fraud! (debasing the quality & quantity)

Comon now... we're not all as gullible as you seem to believe!



Edited 3 time(s). Last edit at 05/30/2011 01:19PM by guynoirprivateeye.

guynoirprivateeye Wrote:
-------------------------------------------------------
> rt: IF you think Printing money is expensive...
> just think about the costs of trading with metal,
> AND the liklihood of Fraud! (debasing the quality
> & quantity)
>
> Comon now... we're not all as gullible as you seem
> to believe!

I don't think printing money is expensive. On the contrary, it's very cheap these days, when most of the "printing" is done electronically.

And yes, you are gullible if you don't own gold. And stupid. But hey, it's your financial future, not mine. I bought my gold when it was at $400 an ounce. I am my own central bank now. Let the FED (or, in my case, the ECB) quantitatively ease away - the more they do, the cheaper my mortgage becomes. I am 100% hedged against falling real estate prices. You?

are employers going to compensate employees with metal?

are financial institutions (banks, mortgages, stock exchanges) going to allow clearing balances with metal?

How about medical expenses/payments, and others?

How about International balances? payments going to be made with gold shipments?

e.g.: Oil to the U.S., Gold to producing countries?

this will be just a blip on the totality of the economy; these things are Especially suited to the LDS & survivalist mentality, aren't they?



Edited 3 time(s). Last edit at 05/30/2011 03:05PM by guynoirprivateeye.

guynoirprivateeye Wrote:
-------------------------------------------------------
> are employers going to compensate employees with
> metal?
>
> are financial institutions (banks, mortgages,
> stock exchanges) going to allow clearing balances
> with metal?
>
> How about medical expenses/payments, and others?
>
> How about International balances? payments going
> to be made with gold shipments?
>
> e.g.: Oil to the U.S., Gold to producing
> countries?
>
> this will be just a blip on the totality of the
> economy; these things are Especially suited to the
> LDS & survivalist mentality, aren't they?

In the not too distant future: yes. The US dollar as a global reserve currency will be replaced with a basket of major currencies as well as a nominal proportion of gold.

As far as oil and other commodities are concerned: they are already being "traded" in gold. You're not looking at commodity prices going up, you're looking at the US dollar, in which these commodities are being traded, going down.

I can understand your reluctance toward the LDS and survivalist mentality but don't look at the Tea Party for information, look at history. Every empire, every nation and every currency that ever started to buy it's own debt with money created by themselves without restraint has perished in the past 5,000 years or so.

what about the check-out line at your Friendly Wal-Mart?

How's THAT gonna work?

Online transactions?


So; you're saying that employers Will pay their employees with metal; do I have that correct-accurate?

Pray Tell, When?

The question isn't about what symbol you trade with at Walmart.

The real question is what "backs" that symbol that you use to trade with Walmart.


What you need to consider is how sound is that which backs your dollar bill at Walmart? You may believe in it, but for very good reasons the world has or is quickly losing confidence in it. Many central banks are moving away from that which backs your dollar and moving to Gold....for the short and medium term.

The question to answer to get your finger on the future is this: what will Brasil, Russia, India and China (BRIC) use to back their currency?

America can no longer print green paper to escape economic reality.



guynoirprivateeye Wrote:
-------------------------------------------------------
> what about the check-out line at your Friendly
> Wal-Mart?
>
> How's THAT gonna work?
>
> Online transactions?
>
>
> So; you're saying that employers Will pay their
> employees with metal; do I have that
> correct-accurate?
>
> Pray Tell, When?

And it's the old law of supply and demand that's behind it. As the rest of the world is racing towards the living standard of the west, they start to depend more and more on oil aswell. At the same time finding new oil isn't happening anywhere near the rate that would be needed to compensate the rapidly growing market.

Definitely..

stormy

This isn't crazy, my pal Glen Beck told me it's a great idea, and he's super smart.

I follow him just like I follow gods true prophet.

This is actually a good idea. Any merchant who does not accept gold and silver is an idiot. If you have money to spare (e.g. savings), buy gold. With the current printing speed of paper money, you guys will be looking at hyperinflation before the year is over.

We've seen in other places of the world that when the economy breaks down cigarettes starts get's used as currency, why not invest in cigarettes then?

Not a bad idea either. Alcohol, too, is as good as gold in times of trouble.

with payment for each transaction having to be weighed & quality (purity) measured...

How SLOW is the check-out line at Wal-Mart going to be????

'An Eternity' just to buy some Postum!

Online transactions? FORGET IT!

Not quite. The gold and silver content of most coins is known. Just multiply that number by the current rate and you're done. Before we had the euro, it was very common for shops over here to have little notes with daily exchange rates pinned to the register. Take out your calculator while you're waiting in line and Bob's your uncle.



Edited 1 time(s). Last edit at 05/30/2011 04:08PM by rt.

so then, in your idea, the economy is tied to the production of gold (?)

me: as long as purchasing power holds up, the medium-method doesn't (and Shouldn't) matter.

the simplest media for easy exchanges is what's important, as the internet/credit & debit cards amply demonstrate...

The 'correct' course of action all depends upon what one believes the future holds, increased productivity or hyperinflation. I can't pretend to know the future except to say that ultimately there is only death which requires no preparation at all. I guess I'm just an optimist that way.

...consider this:

http://www.charlierose.com/view/interview/11330

2 of the 3 (at least) of the panellists have an interest in Gold, true. But the conversation is very important for Americans to consider.

and only accepts metal, I'll get on board.

I wonder if you will be able to pay tithing in gold...
Picture the scene:
Bishop gets scales out and starts 'weighing' your tithing in
<cue Jesus storming in and casting Bishop out of the Chapel>