Imagine: you walk into the grocery store to buy a loaf with Gold And Silver of bread and the cashier says “that will be 1/10th ounce of silver” or “that will be one pre-1965 dime.” As the dollar continues to lose value several states are trying to make this a reality.
Throughout history gold and silver were used as money. From 1795 to 1933 gold was used in conjunction with paper dollars. Silver was used in quarters, dimes etc. up until 1965. It isn’t until recently that gold and silver were no longer considered real money; in fact it has only been 46 years.
We have been living inside a fiat currency experiment since 1971 when President Nixon took us off of the gold standard. But with the fall of the dollar looming states are taking action to prevent the loss of value in currency by allowing gold and silver to be used as real money.
There are several options today set up for using gold and silver as currency which include James Turks GoldMoney, but the best option is to own physical gold and silver. This is because you don’t have to count on anyone else to store it and there is no counter-party risk involved (ie. bankruptcy or government shutdown like in the case of eGold).
Utah recently passed a law making the use of United States minted gold and silver coins acceptable in trade for goods and services. Citizens of Utah are not forced to use or accept gold and silver, but it is an option. Utah also removed the capital gains taxes at the state level, capital gains are still in effect at the federal government level. Twelve other states are currently exploring this option and a republican senator from Utah is proposing a bill to congress mirroring the Utah law.
Some towns in Philadelphia and New Hampshire have set up a barter system in which the local businesses are readily accepting gold and silver. Some companies are taking pre-1965 silver and putting them into laminated cards and are selling them for their silver content to be used for bartering.
There is a movement growing around the country to use gold and silver as real money again. As the momentum picks up more adopters with new ideas will come to market. This will allow US citizens to put their savings into a form of money that cannot be debased like the Federal Reserve has been doing to the dollar since its inception in 1913 (dollar has lost 95% of its purchasing power since then). You can bet as momentum builds the value of gold and silver will rise making now a great time to buy gold coins, silver coins, bars and ingots of gold and silver.