Arizona Senate Approves Recognizing Gold and Silver as Legal Tender
Source: Phoenix New Times
With all the hubbub over Arizona's Senate Bill 1062, you might be saying to yourself, "Self, don't these lawmakers have anything better to do?"
The answer to that lies in the fact that the senate voted on, and approved, a bill yesterday to recognize gold and silver as legal tender in Arizona.
Governor Jan Brewer vetoed a similar bill last year, but this year's version, Senate Bill 1096, comes with some expanded provisions, including authorizing escrow agents to deal with such transactions.
... The bill specifically states that nobody has to accept gold and silver coins as payments, unless it's specifically outlined in some sort of contract, so you're not going to be exchanging gold coins for McNuggets any time soon. Then what's the point? According to an explanation from the Tenth Amendment Center, which is supporting the bill, it's part of an effort to nullify the Federal Reserve.
Read more: http://blogs.phoenixnewtimes.com/valleyfever/2014/02/arizona_senate_approves_recognizing_gold_and_silver_as_legal_tender.php