Video: Going For Gold, Utah Legalizes New Currency

Video - Henry Blodget with Aaron Task

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[particenens]

http://www.youtube.com/watch?v=JNDcuVMnFbc

thanks to Bernanke

[shortcareer]

These buffoons are a little on the pathetic side don't you think? I mean, they haven't really added anyhting to the news of Utah's decision. I apologise in advance for calling this blather, but is there any other word that would describe this banter? First, let me point out that you would only have to carry one coin in your pocket and you'd have (In reality of it's true trading worth in today's dollars) about $1600! If I wanted to buy at new 600 series Mercedes, I would be able to go to the dearlership with a cigarette pack filled with American Eagles and walk out with the keys! Not really a big deal as far as carrying large sums around with you. Secondly, anyone that would trade an American eagle at face value would have to be quanified as the stupidest man on earth.

Lest, I digress, what has been neglected to be investigated here, is what it means that the state has legalized its tender. This is an amazingly shrewd move on the government's part. Allowing people to trade gold and not having a capital gains tax on it means that people will truly be inclined to gather as much of the metal as they can because as it appreciates in value, they will not have to pay any capital gains tax. That alone makes the luster of the investment shine. Add to that fact that you can sell gold any hour of any day of the year and get cash for it! In fact, the likelyhood of getting more cash for it than you paid for it in the first place!

Investors are already flocking to Utah and you can be sure, the flow will increase, as investors dispense with their dollar denominated investments that are losing ground to inflation faster than ever. Sure, if you want to argue with statistics, anyone can pick a time frame (Say the last two weeks) and argue that the USD has gained ground and therefore Gold has lost ground. There is all kinds of specious reasoning out there defending the USD against gold. The question is: What does your ut say? If you use long term stats, say 10 years, you can see that the USD has lost 40% of its value against the USDX. Furthermore, 1 oz of Gold in 2000 was worth $239.00 now it is worth $1600. and headed higher. Where is the USD headed? Why would you want to have USD denominated investments?

There are so many other points that I have not covered but I am jsut a feeble-minded old man and not pretending to be a journalist. These guys are! Pretending that is!

[DailyBail]

nice stuff shortcareer...i agree that they didn't add much...i used the clip as a vehicle to tell the story again...i had posted the utah news in links but was looking for something else to put it on the front page...we will be revisiting this utah story...

[shortcareer]

How kind of you to say!

Now the SS (Oops! -I mean the Secret Service) will have have to have one of the guys following Peter Fonda around to track me too! Oh, I guess they'll have to add one to check up on you too. And all the 100,000 or so, readers of DB too! I guess this means that there should be a lot of new job openings at the CIA because we are the majority, not the minority anymore (Those that question the status quo that is).

Time to heed Gresham's Law when "States" start to get involved in the currency trade. Don't Ya think?!

Here's another non-sequiter... To anyone that is still living or has studied the Weimar Republic... (This als happened in Russia and its satelittes like Czechoslovakia), there was a time, a sad time of great parinoia, when everyone was suspected of anti-Establishmentarianism. At that time the Governments of those countries managed to turn almost everyone against everyone else through fear-mongering. Even Parents were turning in there children for fear of being in collusion with them against the state.

These are not ramblings of Orwell or Bradbury, these are true and real. They are happening again right here in your own backyard. Meanwhile, the NFL season is right around the corner and it will anesthetize the male-folk again for a few months until it gets cold again, and then everyone will rather sit in front of there PC or tube instead of having to fight back. If Mary Antoinette were alive today she could utter "Let them have NFL Sunday Ticket".

Get used to the reality that we will only break free when the people can't eat anymore GMA altered foods. Until then... none of this talk really matters... Not a single word by anyone! And that includes Jim Rogers, Sinclair, The bernank, Obama, or Shortcareer.

Look out for yourselves. God had it right when he laid out the Ten Commandments. Particularly the one that says "Do not have any other gods before me". Everytime that one of us idolizes someone else's opinion (because they are a Harvard Nobel Laureate or whatever along that line that has become so de riguer for Americans to do) we are not fully realizing our own intuition and insight. If these Nobel Laureates and College Graduates that hold all the positions of Power were so smart, we would not be in such a mess would we? We must keep that in mind (As I am no-doubt that the readers and management of DB do) before accepting the mass media's condescending BS. Neglect the Shoe-Shine Boy at your own peril!.

[S. Gompers]

The State of Utah should beware of a Federal Government that has already convicted one in the name of counterfeiting and conspiracy. And should be careful of not getting themselves branded as "domestic terrorists" (tongue in cheek).

The United States Department of Justice delivered a very clear message on Friday March 18, 2011 "Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism. While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country."

These remarks were released by the U.S. Attorneys office in North Carolina following the conviction of Bernard von NotHaus, the creator of the “Liberty Dollar“.

http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency

There are all kinds of alternate barter currencies in circulation in the United States, Ithaca Hours, Potomacs, various gift certificates, Disney dollars, casino chips/ tokens, tokens for car washes/ laundramats, and Chuck E Cheese tokens can all be used to barter and transact instead of legal tender coins and bills within the confines of the business‘s or people that recognize them. The main difference between those listed above and the “Liberty Dollar” appears to be that the “Liberty Dollar” was commodity based at specified weights of silver, while the others are paper, plastic, clay, or “pot metal”.

It is interesting that the “Just-us” Department uses the words “Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism.“. With all the Quantitative easing creating trillions of new dollars and debasing the value thereof, and the Financial scandals destroying the peoples faith in the system, is it any wonder that some are flocking to anything perceived as having intrinsic wealth other than the fiat script being passed off as currency.

In November 2007 federal investigators raided Liberty Dollar's headquarters seizing documents and precious metals. During the raid, about a dozen agents seized nearly two tons of coins that featured the image of Ron Paul. They also took about 500 pounds of silver and 40 to 50 ounces of gold, as was paper currency and other metals.

Bernard von NotHaus was convicted, and the government is now seeking to confiscate through forfeiture five tons of “Liberty dollars” and other precious metals.

Perhaps this is how the government plans to bail out the shorts of some companies who are on the verge of the next big ponzi scheme, through confiscation…

So Utah beware, they might let you ride for a while to let people build up adequate supplies of precious metals, and then brand you domestic terrorists to plunder that which was purchased/ earned by the people of your State.



http://new.bangordailynews.com/2011/04/04/news/feds-seek-7m-in-privately-made-%E2%80%98liberty-dollars%E2%80%99/

"Sometimes the law defends plunder and participates in it. Thus the beneficiaries are spared the shame and danger that their acts would otherwise involve… But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them and gives it to the other persons to whom it doesn’t belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime. Then abolish that law without delay - No legal plunder; this is the principle of justice, peace, order, stability, harmony and logic."

Frédéric Bastiat (The Law)

[S. Gompers]

Look out Chuck E. Cheese, LOL.

http://www.uaff.info/chuck_cheese.htm

[Pat]

The People's Bank of China (PBOC), the central bank, announced today that it will issue more gold and silver commemorative coins featuring the giant pandas to meet soaring demands for precious metals!

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