Thread: A Return of the Thirteen Colonies

A Return of the Thirteen Colonies

By joeshwingding

This years fashion trend has produced the "new black" ... what color is it? GOLD!

Despite the recent dead-cat bounce in the currency it is being widely recognized that the U$D is devaluing at a steep rate. Many countries around the world are dumping dollars and replacing their reserves with the king of money, gold.

Now we have it reported that 13 states are considering legislation to reinstitute gold as "legal money" as was intended in the US Constitution.

[..]In total, thirteen states are considering laws to make gold and silver legal tender in their territories, including Utah, Colorado, Georgia, Montana, Missouri, Indiana, Iowa, New Hampshire, Oklahoma, South Carolina, Tennessee, Vermont and Washington.[..]

Utah starting the trend become the first state on May 9 to recognize gold and silver coins minted by the U.S. government as legal tender.

Mentioned previously, other world central banks are also diversifying away from the depreciating greenback.

In 2009 India purchased 200 tonnes of IMF gold. Over the life of the gold sale program many other countries purchased the 400 tonnes of IMF gold. It has been widely published the the Bank of China is consuming all of its domestic production and doubled its gold holdings in 2009, not to mention its large imports of PM's.

Other notables "Mexico's central bank purchased almost 100 metric tons of gold in February and March". May IMF data also show continued buying by Russia and Thailand, of 18.8 tons and 9.3 tons, respectively. In fact Russia has been buying domestic supply for the past several years.

Then over the past weekend we have this headline:

"Zimbabwe Says Days Of The US Dollar Are Numbered, Pushes For Gold-Backed Local Currency"

"The central bank says the country must consider adopting a gold-backed Zimbabwean dollar warning that the US greenback’s days as the world’s reserve currency are numbered."

Further evidence of talk around the water cooler has publisher Steve Forbes joining the conversation of noteworthy economists and businessman predicting a return to the gold standard.

"A return to the gold standard by the United States within the next five years now seems likely, because that move would help the nation solve a variety of economic, fiscal, and monetary ills," Forbes said in a recent interview with conservative web site Human Events. "What seems astonishing today could become conventional wisdom in a short period of time."

Its tough to spend unlimited quantities of money when you are anchored to a finite resource. It will be interesting to see how it all pans out.

http://my.auburnjournal.com/detail/179012.html

RELATED

Gold, silver coins to be legal currency in Utah

http://www.alipac.us/ftopict-238773.html

Only U.S. coins must be accepted.

The state of Utah started the trend earlier this month when it recognized gold and silver coins minted by the U.S. government as money.

http://www.alipac.us/ftopict-238773.html

. . . The United States accounted for 41 percent of the total silver coin fabrication last year, while Canadian fabrication was up by 72 percent last year, and more than double that of 2008. Growth has been sustained this year, now resulting in some apparent strain on supply of coin-grade silver.â€

I'd buy some if it weren't too expensive for little old me. $2500 a coin is too rich for me.

Originally Posted by JohnnyYuma

I'd buy some if it weren't too expensive for little old me. $2500 a coin is too rich for me.

Silver coins are very affordable.

Originally Posted by JohnnyYuma

I'd buy some if it weren't too expensive for little old me. $2500 a coin is too rich for me.

United States Mint Launches Ulysses S. Grant Presidential $1 coin
http://www.alipac.us/ftopict-238773.html