Utah legalizes gold, silver currency

The official Utah state human being

The Utah legislature moved a step closer to complete insanity fiscal independence this month by declaring gold and silver coins legal tender in the state. Sort of: no laws have been passed requiring merchants or banks to accept an ounce of 24-karat gold with Rush Limbaugh stamped on the front, but as of a week ago, it’s still totally money. It’s just that legally, parties to a contract cannot be required to accept it as tender for debts public or private. This raises the question of exactly how those pieces of precious metal constitute currency, but that’s not important. What’s important now is that, thanks to Republican state representative Brad Galvez, Utah doesn’t use federal bills. Don’t worry, by the way—he isn’t crazy. “We’re too far down the road to go back to the gold standard,” Galvez acknowledged to the Associated Press. “This will move us toward an alternative currency.”

Continue reading