Digital Journal- Salt Lake City
The state of Utah is on the verge implementing its own proto-Gold Standard. The House and Senate have voted in favor of HB317, which would make gold and silver coins legal tender. Governor Gary Herbert has until the end of the month to veto the bill.
“The gold standard would keep you from printing money and destroying the middle class,” said Republican Congressman and potential 2012 Presidential candidate Ron Paul. “Every country where you have runaway inflation, there's no middle class. Mexico, there's no middle class, you have a huge poor class, and a lot of wealthy people. Today we have a growing poor class, and we have more billionaires than ever before. So we're moving into third world status...”
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