States To Use Gold And Silver As Legal Tender
By Susanne Posel
May 3, 2012
As America slips into monetary oblivion, some states are turning to the US Constitutional right and desiring to use alternative currencies – preparing for the hyper-inflation that Bernanke is currently creating.
Minnesota, Tennessee, Iowa, South Carolina and Georgia are awaiting approval from their respective governments to create a separate currency. This number is up from 2011, when just 3 states were brave enough to attempt this constitutional right.
“In the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System … the State’s governmental finances and private economy will be thrown into chaos,” said North Carolina Republican Representative Glen Bradley. He introduced a new currency bill in 2011.
These states are planning on issuing gold or silver coins as tender “in payments of debts” as allotted them in the US Constitution. Law makers are becoming at ease with this proposal as the worth of the US dollar is further lessened by the actions of the Federal Reserve, and the prices of precious metals like gold and silver soar higher.