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“The GOP’s New Gold Rush” – Tim Murphy

Posted by Tom Duncan
March 30, 2011

“After three decades of railing against America’s monetary policies, Congress’ most famous gold bug and anti-Fed crusader, Rep. Ron Paul (R-Texas), doesn’t have much to show for his efforts on the national level.

But Paul’s message finally seems to be gaining traction outside Washington. Since the beginning of 2009, lawmakers in more than a dozen states, with the backing of conservative organizations like the Tenth Amendment Center and the American Principles Project, have introduced bills promoting the use of gold and silver currency for everything from buying groceries to paying taxes. Last week, Utah became the first state to enact such legislation, declaring gold and silver coins from the US mint legal tender, and creating a commission to study the efficacy of this move.

Other proposals, in Georgia and Iowa, would mandate that all state taxes be paid in gold and silver. In Montana, a “sound money” bill that would have required all taxes on cigarettes and tobacco products be paid in precious metals was narrowly defeated on Monday.

Some supporters hope the movement will succeed where Paul’s efforts have fallen short—by bringing down the Federal Reserve system from the bottom up.” Read more

“The GOP’s New Gold Rush” 
Tim Murphy 
Mother Jones, March 30, 2011. 

Image by scottchan / FreeDigitalPhotos.net.

One Comment

  1. TimUwe April 1, 2011 7:38 AM
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    As much as I'd like to see us on the gold standard, passing legislation requiring taxes to be paid in gold and silver seem silly.

    As for legal tender, Utah had better bring back silver dimes and quarters etc.I can't see purchasing a cup of coffee with an ounce of silver and getting 33 dollars in paper money back in change. Not to mention dangerous. Dangerous? Yes, I believe we are in a precious metals bubble brought on by fear.

    This all seems to me rash behavior and not well thought out.