Trust in Gold Not Bernanke as U.S. States Promote Bullion

[dkf]

Distrust of the Federal Reserve and concern that U.S. dollars may become worthless are fueling a push in more than a dozen states to recognize gold and silver coins as legal tender.

Lawmakers in Arizona are poised to follow Utah, which authorized bullion for currency in 2011. Similar bills are advancing in Kansas, South Carolina and other states.

The measures backed by the limited-government Tea Party movement are mostly symbolic -- you still can’t pay for groceries with gold in Utah. They reflect lingering dollar concerns, amplified by the Fed’s unconventional moves in recent years to stabilize the economy, said Loren Gatch, who teaches politics at the University of Central Oklahoma.

“The legislation is about signaling discontent with monetary policy and about what Ben Bernanke is doing,” said Gatch, who studies alternative currencies at the Edmond, Oklahoma-based school. “There is a fear that the government, or Bernanke in particular and the Federal Reserve, is pursuing a policy that will lead to the collapse of the dollar. That’s what is behind it.”

http://www.bloomberg.com/news/2013-04-08/trust-in-gold-not-bernanke-as-u-s-states-promote-bullion.html

[dawg]

1. Goldbuggery is a useful tactic ...

for separating conservatives from their money. I heartily endorse it.

[bhikkhu]

2. That's such a wonderful term for it!

[cbdo2007]

3. They've got to keep the gold prices artificially high some how....

with as much as some of them have invested in gold at this point, the weaker the market for gold becomes the more they're going to fight to make it relevant. I don't know when over the next 3-10 years it's going to happen but there is a BIG gold collapse coming.

[southernyankeebelle]

4. Well if gold is so that then what will the little people use for money. We can't walk around with

little gold bars in our pockets? Just wondering. How do things get valued like homes, cars, food, clothing and such? I am just wondering. I hope it doesn't sound stupid. It's just a question. Anyone know?

[Comrade_McKenzie]

5. I long for the day the gold market collapses and the extreme RWers lose their life savings. nt