Gold, Silver Now Legal Tender in Utah
Meanwhile, the ridicule flows forth as establishment propaganda outlets have at the crazies in Utah, who have the nerve to demand that money be something real and of value.
Establishment media outlets, meanwhile, are already attacking the plan. The elitist, U.K.-based Financial Times, for example, attempted to ridicule the state and its new law in a half-baked editorial, charging: Utah is no stranger to eccentric laws. This is, after all, the state whose citizens have, at various points, felt the need to outlaw both fishing from horseback and dispensing gunpowder as a headache cure. Now it has another legislative feat to match these illustrious forebears. The state’s legislature has passed a bill that paves the way for gold and silver to become legal tender.
Folks, you have got to love the financial markets and all the screwed up perceptions therein. People who are able to see things as they are instead of what the financial services industry robots tell them they see will do fine. Better than fine really, because we use common sense and we love to be derided because the derision tells us we have a long and prosperous (relative to those following the robots, at least) road ahead.
That is because they cling to a failed monetary system, as their minds are unable to be free enough to even consider the possibility that we have long since dropped into a monetary Rabbit Hole. At least gold bugs know enough to seek shelter. The wrap up to NFTRH129 contained this gold bug moment:
Hence, we live like pigs at a trough amid building moral hazards. But the smarter pigs
are perhaps playing the game by the house’s rules (speculating), all the while
deleveraging from obligations to the debts of the hopelessly indebted greater world.
In the US, this might mean a day will come when the USD is actually revalued to its true
intrinsic level (similar to the toxic obligations of all those financial institutions that were
bailed out by the people a couple years ago) and replaced by a new, sound currency
backed by gold… and yes, maybe even silver.
But here is the rub; if the revaluation comes into play and your debts are denominated in
USD, you might want to think about whether you are going to get a free conversion to the
new currency standard at the old (pre-devaluation) level of the USD, or much more
likely, the newly devalued level. This scenario would see legions of debt slaves, with
nothing but this legacy to pass on to future generations.
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