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Bill Allowing Gold and Silver as Money; Bureaucratic Nightmare?

scott s. Wrote: Mar 30, 2013 5:02 PM
Actually the first banks (in Italy) were created because of the problem of doing commercial transactions with gold. Banks took gold on deposit and issued certificates of deposit which circulated in commerce as a proxy for gold.
Texas Chris Wrote: Apr 01, 2013 8:49 AM
True. But the problem began when the gold-banks began lending out more receipts for gold than they had reserves of gold.

I have encouraging news in the state of Arizona where lawmakers back gold, silver as currency.

The measure is Arizona's latest jab at the federal government, which prohibits states from minting their own money. It also reflects a growing distrust of government-backed money.

The bill, which advanced in a 4-2 vote by a House committee...

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