Last Monday Arizona lawmakers passed a bill that makes precious metals legal tender. Arizona is the second state after Utah to allow gold coins created by the Fed and private mints to be used as currency. More than a dozen states have legislature underway to pass similar measures.The bill comes hot off the heels of one of the largest drops in the price of gold. The metal fell 9% yesterday -- its biggest one-day drop in 30 years. Gold’s volatility may make it hard to go to a grocery store and pay for milk and eggs with bullion coins.
Tuesday, April 16, 2013
Arizona 2nd State to Approve Gold as Legal Tender
http://finance.yahoo.com/blogs/daily-ticker/arizona-becomes-second-state-approve-gold-silver-legal-131138074.html;_ylt=AkqCv5bp.kqKLdSplERrvhSiuYdG;_ylu=X3oDMTRwc3M1a3UxBG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yaWVzIG1peGVkIGxpc3QEcGtnA2I3MWE3Zjc1LTNiNjQtM2FiMy1iYWJmLTlhYjY4MDRiYjE4ZgRwb3MDMwRzZWMDTWVkaWFCTGlzdE1peGVkTFBDQVRlbXAEdmVyA2YwZTBmOGYzLWE2YTAtMTFlMi1hYTVkLWYwZDA2NDA2NmY1Nw--;_ylg=X3oDMTFkcW51ZGliBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3BtaA--;_ylv=3
This is such good news Bill. At least two states in the union have some sense!
ReplyDeleteAgreed. Supply is tight PW, just as we said would happen, but admittedly most of those calls were ahead of the actual time.
ReplyDeleteStackers are depleting supply like 2008 and 09, and hoarding.