Gold Alert: Utah's Sound Money Act Gathers Steam
Reporting on the progress of the Utah Sound Money Act through the Utah 2011 legislative session, Gold Alert noted:
A bill to introduce the use of gold and silver as money in Utah has continued to make progress in the state legislature, with the House of Representatives set to vote on The Sound Money Act.
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The bill “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,” according to a report by FOX News.
In addition, “the legislation, which has 12 co-sponsors, would let Utahans pay their taxes with gold and also calls for a committee to study alternative currencies for the state. It would also exempt the sale of gold from the state capital gains tax.”