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Concern about inflation and a weakening UNITED STATE buck, is pressing greater than a lots states to attempt and identify gold and silver coins as lawful tender.
The Constitution enables States to give their people the capacity to work out debts in gold and silver, according to Ed Moy, previous director of the UNITED STATE Mint.
" What it does enable the states to do is offer their residents the ability to settle financial debts in silver and gold. It's never been worked out considering that it was composed right into the Constitution up until lately. After the Financial Dilemma, a number of states, the existing number is 12 of them, are trying to determine just how to operationalize Write-up 1, Area 10, to allow their citizens to buy and sell points in gold and silver," Moy told Michelle Makori, editor-in-chief for Kitco News.
0:00 – Gold and silver as legal tender?
6:40 – U.S. capital obtains tax obligations
9:34 – Buck as reserve currency
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More states pushing to make gold and silver legal tender – former U.S. Mint director (Pt 2/2)
Watch part 1 of this interview: https://youtu.be/vWY855esnPA
Concern about inflation and a weakening U.S. dollar, is pushing more than a dozen states to try and recognize gold and silver coins as legal tender.
The Constitution allows for States to give their citizens the ability to settle debts in gold and silver, according to Ed Moy, former director of the U.S. Mint.
“What it does allow the states to do is give their citizens the ability to settle debts in gold and silver. It’s never been exercised since it was written into the Constitution until recently. After the Financial Crisis, a number of states, the current number is 12 of them, are trying to figure out how to operationalize Article 1, Section 10, to allow their citizens to buy and sell things in gold and silver,” Moy told Michelle Makori, editor-in-chief for Kitco News.
0:00 - Gold and silver as legal tender?
6:40 - U.S. capital gains taxes
9:34 - Dollar as reserve currency
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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