Op de beurs zie ik anders een behoorlijke inflatie.quote:
quote:Senate advances bill to make gold and silver legal tender in Arizona
The Arizona Senate gave preliminary approval today to a bill that would recognize gold and silver as legal tender in the state, an effort its sponsor said harkens back to a basic reading of the United States Constitution and respect for a basic form of wealth.
SB 1439, sponsored by Sen. Chester Crandell, R-Heber, was approved by the Senate Committee of the Whole, but not without a satirical objection by Sen. Steve Farley, D-Tucson. He offered an amendment that would have added livestock, cotton, citrus and sunbeams, as well as copper bullion, to the list of legal tender recognized in Arizona.
Each item is pictured on the Arizona state seal, which reads “Ditat Deus,” Latin for “God enriches.”
“Why not help this bill along by making it something that would be more Arizona-centric and recognize what we recognize as value in Arizona?” Farley asked. “God enriches us through the Five Cs, so why not make the Five Cs legal tender?’’
He also offered more serious objections: If the bill is approved, stores may need a system of scales and professionals on hand to value gold or silver, and sales taxes would also have to be paid with gold if that’s what’s used to make a purchase, Farley said.
“You could do that just as easily with livestock and citrus,” Farley quipped. “You could get a bag of oranges and add a tangerine for sales tax.”
Senate President Andy Biggs, R-Gilbert, opposed the amendment, which he described as a poor attempt at humor “more appropriate for Saturday Night Live.”
Crandell assured fellow senators that his proposal is no joking matter.
“Some of these bills come from constituents and they feel very compassionate about what they are,” said Crandell, R-Heber. “To ridicule and make fun of a bill that is being put through I think is very unbecoming of the profession we have down here.”
Crandell has said he simply wants follow the U.S. Constitution as it once was, harkening back to a day when gold and silver were used to purchase goods. It’s still in the Constitution, and some residents want their gold and silver recognized as legal tender by the state, he said.
“A simple reading of the United State Constitution will allow you to understand that the federal Constitution allows states to mint and coin money,” Biggs said.
But Farley said his amendment was intended to demonstrate his concerns with the bill, which he said could result in forcing businesses to determine the value of silver and gold specie being used to make a purchase.
“The bill itself ridicules our entire financial system,” Farley said. “I actually have serious difficulties with the idea that we should be able to allow anyone anywhere to present any form of gold and silver, and this is simply a demonstration of how the underlying bill has serious problems with it.”
Farley’s amendment was defeated, but the bill moved forward with an amendment introduced by Crandell delaying the implementation of the measure to address concerns about how purchases would be made using gold and silver bullion.
Crandell has said that the stores wouldn’t be forced to accept gold and silver, but at least with this bill, they could if they chose to.
“This is simply to recognize it in law, and how to spend that and how to use that will be later put in,” Crandell said.
quote:Arizona lawmakers approve gold and silver as legal tender
The Arizona state legislature has officially approved a measure to make gold and silver legal tender.
As RT reported earlier, an effort in the State House and Senate to have precious metals once again considered legitimate currency has garnered an immense amount of support in recent months, particularly in the wake of ongoing round of quantitative easing conducted by the US Federal Reserve, the country’s central bank. On Monday, the Arizona House of Representatives signed-off on a Senate bill that now only requires the governor’s signature to become official [PDF].
Once Gov. Jan Brewer authorizes the bill, retailers in Arizona that are willing to accept gold and silver in lieu of paper money are allowed to let customers purchase goods with precious bullion.
"This gives them the ability to use it as tender and have the same recognition as the paper dollar coming out of the Federal Reserve," Republican State Sen. Chester Crandell tells the Associated Press.
Sen. Crandell is a sponsor of the bill, SB 1439, and helped craft the act to mimic a similar law that was passed in the state of Utah in 2011. Speaking to the AP from Arizona, Scottsdale Bullion & Coin broker Mike Rowlands suggests other states should follow suit before the buying value of the dollar diminishes even further.
"We know in the situation where we're at they continue to pump money in and pump money in, which eventually that game is going to end," Rowlands tells the AP.
Days before the Arizona House approved Sen. Crandell’s bill with a 36-22 vote, University of Central Oklahoma Professor Loren Gatch told Bloomberg News that more states are likely to adopt similar bills if the Federal Reserve continues its current policies under Chairman Ben Bernanke.
“The legislation is about signaling discontent with monetary policy and about what Ben Bernanke is doing,” Gatch said. “There is a fear that the government, or Bernanke in particular and the Federal Reserve, is pursuing a policy that will lead to the collapse of the dollar. That’s what is behind it.”
Lawmakers in Arizona might not have words as harsh as Gatch, but nonetheless seem to agree: since the United States abandoned the gold standard in 1971, inflation has been rampant as prices soar and the dollar’s value declines.
For some, though, going back to how things were before the ‘70s seems to just make sense. “This is the type of currency we have had over the history of mankind,” adds Republican State Rep. Steve Smith.
If Gov. Brewer signs off on the bill, Arizona residents will be allowed to use gold and silver as legal tender starting in 2014 — only, of course, in places willing to accept them. After the Arizona Senate first passed the bill in February, the House tacked on an amendment that exempts the state’s Department of Revenue from being covered under the measures — essentially negating a rule that would have mandated businesses accept precious metals.
“They wanted to make sure they wouldn’t be required to take gold and silver,” Republican State Rep. David Livingston says of the department. “They just didn’t want to have to deal with it right now.”
Fears that ‘dangerous’ Switzerland referendum could spark gold rushquote:Ahead of the vote the Swiss franc has risen to a two-year high. But support in the referendum has been waning as it draws nearer, with a poll a week ago suggesting only 38% were in favour, down from 42% last month
Tja, als de zwaartekracht opeens niet meer bestaat kunnen we allemaal zweven.quote:
Ja, ik snap heus wel hoe je zit te fappen op een wereld zonder bankiers op je zolderkamer. Maar wat dan, moet ik met een klomp goud naar de bakker?quote:
Ik heb het over de functie van goud in geval van ernstige crises. Tot nu toe is nog altijd gebleken dat je dan goud en zilver kan ruilen tegen voedsel. Zo ook in WOII en in het laatste geval Zimbabwe in 2009 zoals uit het videofragement blijkt. Dat wil niet zeggen dat ik ervoor pleit goud werkelijk als valuta te gebruiken in alle gevallen. Maar een gezonde argwaan naar fiat currency lijkt me verstandig. Dit komt omdat als de ernstige crisis voorbij is je dat goud tegen een beste prijs, tegen veel meer voedsel of goederen kan verkopen.quote:
Oke. Waarom dan goud? Waarom niet flessen water? Of pokemon kaarten?quote:Op zondag 30 november 2014 17:09 schreef Digi2 het volgende:
Ik heb het over de functie van goud in geval van ernstige crises. Tot nu toe is nog altijd gebleken dat je dan goud en zilver kan ruilen tegen voedsel. Zo ook in WOII en in het laatste geval Zimbabwe in 2009 zoals uit het videofragement blijkt. Dat wil niet zeggen dat ik ervoor pleit goud werkelijk als valuta te gebruiken in alle gevallen. Maar een gezonde argwaan naar fiat currency lijkt me verstandig. Dit komt omdat als de ernstige crisis voorbij is je dat goud tegen een beste prijs, tegen veel meer voedsel of goederen kan verkopen.
77,3% van de stemmen tegen het Goud-initiatief.quote:Volk lässt sich von Gold-Vorlage nicht blenden
Die Gold-Initiative hatte bei Volk und Ständen keine Chance. 77,3 Prozent der Schweizer Stimmbürger legten ein Nein in die Urne – dies bedeutete Ablehnung auch bei allen Ständen. Für Politologe Claude Longchamp ist klar, wer bei dieser Vorlage der glaubwürdigste Akteur war: die Nationalbank
De grote goudreserves stellen de russen in staat te voorkomen dat hun FX-reserves teveel slinken. Al bestaat er denk ik maar 1 grote koper voor op dit moment vanwege de westerse sancties waaronder kapitaalrestricties. China heeft veel dollars en wil graag zijn goudreserves vergroten, het ligt dus voor de hand dat zij dan het goud opkopen en in dollars betalen.quote:Traders Betting Russia’s Next Move Will Be to Sell Gold
Russia’s surprise interest-rate increase failed to stop the plummeting ruble. Another tool available to repair economic havoc caused by sanctions and falling oil prices: selling gold.
Russia holds about 1,169.5 metric tons of the precious metal, the central bank said last month. That’s about 10 percent of its foreign reserves, according to the London-based World Gold Council. The country added 150 tons this year through Nov. 18, central bank Governor Elvira Nabiullina told lawmakers.
Russia’s cash pile has dropped to a five-year low as its central bank spent more than $80 billion trying to slow the ruble’s retreat. The currency’s collapse combined with more than a 40 percent tumble in oil prices this year is robbing Russia of the hard currency it needs in the face of sanctions imposed after President Vladimir Putin’s annexation of Crimea. A fall in gold prices signals that traders are betting that the country will tap its reserves.
“Russia is at a critical juncture and given the sanctions placed upon them and the rapid decline in oil prices, they may be forced to dip into their gold reserves,” Kevin Mahn, who oversees $150 million at Parsippany, New Jersey-based Hennion & Walsh Asset Management. “If it happens it will push gold lower.”
Als het maar 10% van de foreign reserves is dan is het een druppel op een gloeiende plaat, maar het zou wel een erg desperate indruk maken om nu te gaan verkopen na eerst op veel hogere prijzen te hebben gekocht. Ik zie dat dus niet zo gauw gebeuren.quote:Russia holds about 1,169.5 metric tons of the precious metal, the central bank said last month. That’s about 10 percent of its foreign reserves, according to the London-based World Gold Council.