The Arizona Senate on Tuesday approved a measure to make gold and silver legal currency in the state, in a response to what backers said was a lack of confidence in the international monetary system....
The push to establish gold and silver as currency has become increasingly popular in the United States in recent years among some hardline fiscal conservatives, with the backing of groups including the Tea Party movement, American Principles Project and the Gold Standard Institute.
Keith Weiner, president of the Gold Standard Institute advocacy group and a supporter of the bill, said the legislation was needed to counter what he sees as insolvency in the global monetary system.
"The dollar system and all of the other derivative currencies, including the euro, are a recipe for worldwide bankruptcy," Weiner told lawmakers at an earlier hearing, adding that a "sound and honest money system such as gold and silver" was needed to bring stability.Do I sense some conflict of interest here?
Medieval monetary practices reveal an alternative approach to currency stabilisation. This column examines the role of Mint prices as a device for stabilising the medieval bullion market. This might seem to be of limited relevance to managing modern currencies, yet a longer historical view helps to highlight different approaches to currency stabilisation. This raises a question for modern policymakers: should the price of some of the asset counterparts of today’s money be anchored, as bullion prices once were under the Mint system?VOX
...Swiss refiner Valcambi which has created a CombiBar, a credit-card sized, 50 gram block of 99.9 gold, which is precut, and which can easily be broken into one gram pieces....Zero Hedge
