originally posted in:Secular Sevens
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[quote]PHOENIX (AP) -- The Republican-led Arizona Legislature has passed legislation making gold and silver legal tender, no different under state law than the U.S. dollar printed by the federal Treasury Department.
But under the bill the House passed Monday, the state Department of Revenue wouldn't have to accept gold as legal payment.
State officials want no part in the bill because they are wary of how it would work in practice, said Republican Rep. David Livingston, who ushered the legislation through the House and crafted the amendment exempting the state Department of Revenue from the proposed law at its request. But Livingston said the state's reluctance to participate in the measure is not indicative of larger problems with the bill.
"They wanted to make sure they wouldn't be required to take gold and silver," Livingston said in a telephone interview before the vote. "They just didn't want to have to deal with it right now."
The measure reflects a growing distrust of government-backed money amid the declining value of the dollar. Many investors have invested their money in precious metals in recent years, and the value of gold and silver is on the rise.[/quote]
Well, this is certainly a rather significant event. As mentioned in the article, Arizona is now one of two states to have recognized gold and silver as legal currency. Is this indicative of a growing trend amongst State legislatures?
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How does one determine the value of the gold they are carrying? Isn't it a varying currency? Unless it's a gold coin, of course...