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Arizona is returning to its gold rush roots

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Arizona is returning to its gold rush roots with a bill that would make precious metals legal currency.

http://www.foxnews.c...d-legal-tender/

 

Here is a sections from the AP article.

Democratic Sen. Steve Farley of Tucson said the measure is unnecessary and would create long lines at businesses as store clerks inspect and weigh the gold and silver. The measure would allow the use of precious metals as money only when businesses agree to take them.

 

"Businesses are not clamoring for this, to say the least," Farley said. "This is basically growing the size and scope of government to create an entirely new currency system."

 

Republican Rep. David Livingston of Peoria, a financial adviser who ushered the legislation through the House, said his clients were eager to tap into their gold and silver reserves.

So with these two statements, To me it doesn't make much sense in passing the law. Since some of the people working in the stores around here. Can't make change for a gold dollar, with out the manager.

I had a young women @ home despot refuse to take them because she didn't know what the price of gold was! When they first came out, and some body was paying a premium to the women that worked the 7-11 that I used them to buy coffee every morning before I retired for them. Neither her or the guy buying them new anybody could go to a bank and get them. I also have been told that they were fake and not real money by people working in stores!

 

Granted most were young and did know a news story that didn't involve a signer or actor!

 

I can't imagine what using real gold and silver would do, to those limited knowledge folks. Not to mention how would the parties make change for items less than the weight of the gold/silver piece?

 

The second thing is if your are in a position to have gold/silver reserves, as an investment why would you want to tap them a couple of dollars at a time?

 

And what does the dept of revenue in the state do.

The state Department of Revenue opposed the measure. It passed in the House only after an amendment was added to exempt the department from having to accept gold or silver as tax payments.

 

I admit that other than some art silver bars, and sheet stock,bar and wire along with some casting grains for jewelery work. I don't own any other than the ASE's that i like the look of.

 

What do some members think?

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People can take whatever they want in payment - I don't really see a law for that.

 

If someone accepts lollipops, all the power to them.

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It's illegal to accept silver and gold right now?

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All I know is that Arizona is in competition for the most backwards governing in the Union. They're probably trying to legalize slavery as we speak.

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