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Utah's Step-by-Step Strategy in support of...
 April 13 2024 at 08:27 pm
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From the Original article by Mike Maharrey. Jumping into this topic in the middle of the article... "The problem is it’s almost impossible to pass sweeping legislation that addresses every aspect of anything, much less something as far-reaching and complex as sound money and monetary policy. Success against the largest government in history requires more than tough rhetoric or big talking in social media posts. It requires a sound strategy – as the founders recognized, a step-by-step approach that can be implemented over time. The Federal Reserve and the U.S. government have monopolized money and locked us into a fiat monetary system for more than 100 years. We won’t establish a sound money system in a day by passing a single bill. Here’s a crucial point to understand: there is no silver bullet. Anyone promising one is either lying to you or more likely hasn’t made an effort to address the issue beyond posting online about how anything less than their idea is a “waste of time.” The real waste of time is trying to do too much at once. After all the time and effort, you usually end up with nothing. However, an incremental, step-by-step approach is proven to be effective. It just takes more time and energy. This is exactly how Utah has evolved into a growing haven for sound money. " < skipping a bit about the methodical step-by-step process of creating the law around sound money in Utah, but it's important reading. In my state, the democrats do this incremental approach all the time... I call it "moving the ball down the field."Here's a bit more...> "The Utah Specie Legal Tender Act has also led to the creation of the Goldback, a local, voluntary medium of exchange. Goldbacks are “gold-weight” notes made from physical gold. The 1 is 1/1000 of an ounce of Troy weight gold; the 5 is 5/1000 or 1/200 of a Troy ounce, and so on. The company created a process that turns pure gold into a spendable physical form for small transactions. It describes the goldback as “the world’s first physical, interchangeable, gold money, that is designed to accommodate even small transactions.” UPMA General Counsel Larry Hilton noted that the Utah Goldback is legal tender in the State of Utah because of the Specie Legal Tender Act “This means that under Utah State law, the Goldback is a voluntary legal tender in Utah. The goal is for the Goldback to circulate within the State.” The Goldback has been enthusiastically embraced in Utah. The UPMA estimates that Goldback acceptance may be as high as 50 percent among small business owners. Because of this strong demand – both inside Utah and from other states, the company has been able to launch Goldback editions in Nevada, New Hampshire, Wyoming and South Dakota. With more likely soon. In 2022, Utah opened the door for the use of Goldbacks to grow even further by expressly repealing the sales tax on the sale of all “goldback” notes. @Valueside and @CanadianLibertarian, what are your thoughts on the implementation of sound money in Utah, and the potential to replicate this process in other states/countries? Which states/provinces would be good candidates in the future for this type of long term (10 year + ) effort?Do you think this process could this be replicated at a city, county level?Is it possible that at some point, if we got to a critical mass of communities with sound money, fiat money would lose a war of attrition? Interested in your thoughts, thinkers! Learn more here...

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