Right Perspective: Utah Moves Toward Recognizing Gold, SilverThe Right Perspective
follows the Sound Money Movement in Utah:
The American state of Utah became the first in the country to move towards recognizing gold and silver as legal tender, when a bill proposing the move passed its state House on Friday.
In the bill written by attorney and Tea Party activist Larry Hilton, Utah would recognize gold and silver coins issued by the federal government as legal currency in the state. The coins would not replace the current paper currency but would be used and accepted voluntarily as an alternative.
People living in Utah would not only be able to pay their taxes with gold, it would also exempt the sale of the precious metal from the state capital gains tax. A committee to study alternative currencies for the state would also be created under the legislation.