Utah is Becoming Fed Up with the Fed

By | February 12, 2017


Feb. 12, 2017: Utah is becoming “Fed Up with the Fed”.  Like other states such as Texas and Arizona, Utah is considering curtailing its ties with the fiat currency of US Federal Reserve system.

Utah is looking to:

  • “Put Trust Back in God and Gold, Rather Than Central Bank”, according to a recent article in The Daily Coin by Mac Slavo.

Fiat Currency

Fiat Currency, like the US dollar, is the money you have in your pocket and bank accounts. It’s not made of or backed by precious metals. Instead it has value because the issuing government says so.

Here’s the problem: Fiat currency has no physical basis in value. This can give rise to many economic maladies, such as inflation, hyperinflation and disinflation. As the current conditions of any country’s economy changes, the issuing government can print as much money as they want, essentially cheapening the value of the currency with time.

As succinctly put by the Slavo article:

  • “States fed up with the phony, manipulated central bank currencies are starting to move away from the failing system – and prepare to hedge themselves against the worst case scenarios of monetary collapse.”

What’s Happening in Utah

According to the Slavo article, State Representative Ken Ivory introduced Utah House Bill 224 (HB224) on Jan. 27, 2017.  This bill would:

  • Allow for the erection of a Utah state repository for physical gold, and
  • Encourage and facilitate that Utah’s official business be conducted with funds backed by or drawn from the value of this stored physical wealth.

In many respects, they are imitating the recent moves made by Texas.

Are You Concerned? Buy Gold.

Gold bullion, in the form of gold bars, rounds or bullion coins has always been a storehouse of value in times of economic and political uncertainty.

You can purchase gold bullion and coins from reputable online bullion dealers, coin shops, and at venues such as Amazon. Our preferred online gold dealers, who offer great value and secure shipping, include  Golden Eagle Coins, BGACS and Money Metals Exchange.

If you think Utah is on the right path, then perhaps now is a good time to add gold to your portfolio.

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