Saturday, May 4, 2013

The Battle For Real Currency Begins


The Battle For Real Currency Begins

Arizona Governor Jan Brewer vetoed legislation Thursday that would have made gold and silver legal tender in 2014.


Gov. Jan Brewer (Photo by Jonathan Gibby/Getty Images)
By Avalon 
Intellihub.com 
May 3, 2013
Intellihub.com posted an article titled Gold & Silver is Now the Real Currency in 2012? on August 22, 2012 –
Will 2012 be the year that the American People finally realize the true power of controlling their own currency? It looks like the state of Utah has already taken action. The passage of HB 157 Currency Amendments came about so swiftly that within months, the entire country could be dealing in real tangible assets that Gold and Silver have represented for centuries.
On Thursday, May 2nd, 2013, after passage in the Senate, Arizona Governor Jan Brewer vetoed legislation that would have made gold and silver legal tender in the state in 2014.
RE: Senate Bill 1439 (legal tender)
Today, I vetoed Senate Bill 1439. This bill would have recognized Specie coin authorized by Congress as legal tender in the state of Arizona. While I believe the concern over a devalued dollar as a result of an unsustainable federal deficit is justified, I am unable to support this legislation. I believe the provisions in this legislation need to be more carefully examined and there should be prior coordination with those government agencies tasked with the oversight of these transactions.
It is important to note that the administrative and fiscal burdens for both the taxpayers and the Department of Revenue remain vague. For example, it is unclear whether this legislation would require Arizona to exempt income tax related to a transaction involving collectable coins or bills that were originally authorized by Congress and may be used as legal tender. This would result in lost revenue to the State, while giving businesses that buy and sell collectable coins or currency originally authorized by Congress an unfair tax advantage.
These concerns are among the primary reasons I have vetoed Senate Bill 1439.
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.
MineWeb.com basically echoes the Reuters article almost word for word. Their previous article on Utah does make a few good points:
Utah Gov. Gary Herbert last week quietly signed a law which has made Utah the first U.S. state to recognize federally issued gold and silver coins as legal tender.
However, the governor chose not to make any public statement about the Utah Legal Tender Act.
Utah’s state tax code now considers U.S. Mint gold and silver coins as currency, which means no capital gains or other state taxes will be levied when the coins are exchanged. However, the gold and silver coins are still only worth their face value despite record gold and silver prices.

Intellihub.com considers these developments in Silver and Gold Currency one of the most important issues today – and we will be reporting on Silver & Gold regularly.Sources:

^ Gold & Silver is Now the Real Currency in 2012?
^ UPDATE 1-Arizona governor vetoes bill making gold, silver legal tender
^ The Gold Standard Institute
^ American Principles Project
^ http://azgovernor.gov/dms/upload/PR_050213_SB1439VetoLtr.pdf
^ http://www.azgovernor.gov/
^ http://www.azcommerce.com/about-us/news/
^ Arizona governor vetoes bill making gold, silver legal tender
^ Arizona Governor vetoes gold and silver legal tender bill
^ Gold, silver coins now officially legal tender in Utah
http://intellihub.com/2013/05/03/battle-for-real-currency-begins/

3 comments:

Anonymous said...

Clearly time for the Governor to be voted out of office, and replaced with someone who will do the will of the people...

She has no shame.

Anonymous said...

Brewer just exposed herself. Congratulations.

Anonymous said...

Are you sure you guys are understanding Brewer's reason(s) for vetoing this bill?
Apparently the bill needs more work, it's unclear and vague.
There are tax issues. The bill can be re-written and re-voted on.

Oftentimes bills are not written for the states or the people,
but for some ruling faction of corporate government for their own gain.

It sounds to me like she's doing her job.