Posts in "Alternative Currency"

By Megan Duffield at 12:45PM

May 24, 2011

Utah Legalizes Gold and Silver as Currency!

If you recall, we covered this hopeful story from the West back in March. Today we can now say that there is a state in this country that has authorized the use of competing currencies, specifically gold and silver. [And the crowd goes wild!] Over 10 states have similar bills drafted, but Utah is paving the way.

The author of the alternative currency bill, Republican State Rep. Brad Galvez, was inspired by the dying dollar and equally inauspicious Federal Reserve. The Fed has consistently been pumping money out of thin air for its third straight year to "prop up" the economy, and this bill is one way conscious Utah citizens can snub their noses at the Fed and make wealth of their own. Business owners will not be required to accept the alternative currency, and the capitol gains tax will now be omitted for people who choose to take part in this alternative investment.

The growing popularity of owning gold and silver became a hot topic following the financial crisis of 2007-2008. Hedging against inflation with commodities has always been a high-profiled investor's priority, however, nowadays you can ask the average Joe or Jane -- continue reading at SilverUnderground.com

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By Megan Duffield at 7:00PM

Aug 23, 2010

Local Currencies

We didn't make this idea up.

The silver circles you find in our film in 2019 were inspired by history as well as present day rebels. When the economy begins to hurt, people begin protecting their financial wellbeing. Some communities have even created their own currencies in order to combat inflation on the national dollar. Issuing an alternative currency is perfectly legal, as long as it is treated as taxable income and consists of paper bills rather than coins. That still doesn't explain much in terms of the intrinsic value of money, but this locally based currency has sparked controversy and success throughout the country.

Keep Your Savings Away from the Dollar

The $8 Trillion spent by the Treasury and Congress in the last few months, most of which was printed by the Fed, implies a huge wave of inflation that will hit us in the next couple years. Last year’s estimated Gross Domestic Product was $14 Trillion. Even if the Federal Government imposed a 50% tax, it still wouldn't bring in enough funding for all this federal spending.