The recently signed Utah Currency Law now allows gold and silver to be used as currency. For now you can use silver eagles or gold eagles. Max Kaiser and David Morgan discuss the opportunity this presents for investors in silver and gold eagles. A depository is being established into which the individual can deposit their gold or silver eagles. They will be issued a debit card and they can make purchases drawing on the precious metal bullion they have in the depository. As more people come to view the current fiat currency with skepticism this just may be an idea whose time has come. Listen to David Morgan and Max Kaiser discuss the opportunities and challenges. For more information from David Morgan visit David Morgan’s Page here at PreciousMetalsInvesting.com
Video Rating: 4 / 5
25 thoughts on “Utah Currency Law Allows Gold and Silver to be used as currency”
@samc1778 Only coinage that’s accepted by the US Government, at this time, will be used by people who accept it, by their own discretion. Does that make sense to you? We can give them our gold and silver and get a debit card when the banks are failing and the US dollar is failing too. I don’t think so. I’ll be holding my gold and silver! Especially since a tiny piece of gold that used to be $50 in 1900 is $150 now!
Why is Russia Today, a Russian owned media outlet, even talking about things occurring in America? Why do the reporters ALL have American accents if they’re centered out of Moscow? When was the last time you heard someone from Russia speak like a New Yorker or a Texan? These are the questions we should be asking RT and telling them with gusto: STOP COVERING AMERICAN NEWS STORIES AND START COVERING YOUR OWN DAMN COUNTRY’S NEWS INSTEAD!
You guys…check out republic for the united states .org. Something big has happened behind the scenes.The US corporation government has been put on notice that the Republic has been re inhabited.I promise you will be shocked and gratified by what you see on the above mentioned site.
If this becomes a trend, the mint may stop making the eagles.
Or Does your $34 dollars per ounce buy $34 dollars worth of goods and services??????????
Explain this please. If your silver is now $34 per ounce, what value will the silver value be upon sale to the retail store of choice. Why would you spend a face value $1 Silver Eagle when you have now lost $33 Dollars with the Silver ounce value. Can someone answer this for me??????????
Right, put your silver into an account, and then they can expropriate it when they get the urge…maybe when the hyper-inflation becomes a bit to heated.
@silvernail6: Yes, that would include junk silver.
So that would include junk silver: dimes, quarters, halves, etc?
what f#*kwit would do this
Great Interview! As you always do! Thanks for the great information!
@thetimman00 Interesting observation. If you can deposit gold & silver, you should be able to withdraw it too. Otherwise its like a roach motel—-gold & silver go in, but they don’t come out of the govt coffers.
@thetimman00 Interesting observation. If you can deposit gold&silver, you should be able to withdraw it too. Otherwise its like a roach motel—-gold&silver go in, but they don’t come out of the govt coffers.
American Gold Eagles fine. Will they also take American Gold Buffalos?
The premiums on buffaloes have come way down to that of eagles.
The perfect way to confiscate our silver! Buying Red Bull and tennis shoes. Think about it. Sounds great……an excellent way to get all of your ASE’s back into the melting pot to make Little Debbie Wrappers for those Honey Buns without paying you that HEFTY premium of $5-$7 you paid in the beginning. If you’re gonna give it up. Wait until they accept your deposit without discretion whether it be ASE, 999, or 90%. There’s hasn’t enough ASE struck to facilitate national acceptance of ASE’s only!
His hair, his hair…what’s up with his hair? Very distracting….
@streetmoney21 that is really a great point
AMEN the free market must be allowed to prevail.
Is it true the law says traded at the face value on the coin?
Mr. Morgan sir, you are the man and I’m very happy and lucky to have a signed 2010 American silver eagle from you. Thank you
I like the direction of what Utah is doing and I hope it drives demand for silver by more people as a valid savings vehicle but… I’m not sure I’m ready to trust any government just yet with an asset that is supposed to give one a sense of independence from the system. In other words – third party risk.
At best I’d deposit a token amount – then I could minimize risk and feel good about participating.
Can you go to the vault and buy gold and silver?
There will always be someone who will try to scare or scam you out of PM’s.
Funny how this is exactly how we got into this mess in the first place. Let someone hold your gold and silver in exchange for a piece of plastic. I promise I will keep it safe…..For…Me…..