{"id":22647,"date":"2017-02-04T10:05:38","date_gmt":"2017-02-04T15:05:38","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22647"},"modified":"2017-02-04T10:05:38","modified_gmt":"2017-02-04T15:05:38","slug":"utah-bill-would-set-stage-for-state-gold-and-silver-depository-further-encourage-use-of-metals-as-money","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22647","title":{"rendered":"Utah Bill Would Set Stage For State Gold and Silver Depository, Further Encourage Use of Metals as Money"},"content":{"rendered":"
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Utah Bill Would Set Stage For State Gold and Silver Depository, Further Encourage Use of Metals as Money<\/a><\/h3>\n<\/div>\n
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<\/i>SALT LAKE CITY, Utah (Feb. 1, 2017) \u2013 A bill introduced in the Utah legislature would build on the state\u2019s Legal\u00a0Tender Act, creating a foundation for further action to encourage the use of gold and silver as\u00a0money, and take another step toward breaking the Federal Reserve\u2019s monopoly on money.<\/p>\n

Rep. Ken Ivory (R-West Jordan) introduced House Bill 224 (HB224<\/a>) on Jan. 27. The legislation would add several provisions to state law designed to encourage the use of gold and silver as legal tender. Passage would set the stage for expansion of gold repositories in the state and authorize further study on several sound money policies.<\/p>\n

Specifically, HB224 would authorize the investment of public funds in specie legal tender held in a commercial specie repository. Under existing code, \u201cspecie legal tender\u201d means gold or silver coin and bullion. \u201cCommercial specie repository\u201d means an institution that holds or receives deposits of specie legal tender that is located within the state. Practically speaking, passage would give the state the option to hold funds in gold and silver instead of Federal Reserve notes.<\/p>\n

The legislation would also direct the State Money Management Council to make rules governing quality criteria for a commercial specie repository, in consultation with the state auditor.<\/p>\n

A \u201cGOLD BANK\u201d FOR UTAH<\/p>\n

Gov. Greg Abbot\u00a0signed legislation<\/a>\u00a0creating a Texas gold bullion and precious metal depository in June of 2015. The facility will not only provide a secure place for individuals, business, cities, counties, government agencies and even other countries to to store gold and other precious metals, the Texas law also creates a mechanism to facilitate the everyday use of gold and silver in business transactions. In short, a person will\u00a0be able to\u00a0deposit gold or silver \u2013 and pay other people through electronic means or checks \u2013 in sound money.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Utah Bill Would Set Stage For State Gold and Silver Depository, Further Encourage Use of Metals as Money SALT LAKE CITY, Utah (Feb. 1, 2017) \u2013 A bill introduced in the Utah legislature would build on the state\u2019s Legal\u00a0Tender Act, creating a foundation for further action to encourage the use of gold and silver as\u00a0money, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[309,374,536,647,8816,14746,14654],"class_list":["post-22647","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-fiat-currency","tag-gold","tag-money","tag-precious-metals","tag-sound-money","tag-tenth-amendment-center","tag-utah"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22647"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22647\/revisions"}],"predecessor-version":[{"id":22648,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22647\/revisions\/22648"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}