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Old 04-12-2013, 05:43 PM
 
2,806 posts, read 3,177,941 times
Reputation: 2703

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After SB 1439 has been approved in various versions between the AZ House and Senate, can I now buy stuff for gold and silver any more than I could before? - I thought this was a free state in which I could barter as much as I wanted all the time, not? Can I pay any AZ state fee or taxes in nuggets now? If not, why do we need a bill and associated bureaucracy that does not change anything from before? - Your tax-dollar hard at work in our legislature again. LOL
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Old 04-12-2013, 11:20 PM
 
861 posts, read 2,191,737 times
Reputation: 1454
Quote:
Originally Posted by Potential_Landlord View Post
After SB 1439 has been approved in various versions between the AZ House and Senate, can I now buy stuff for gold and silver any more than I could before? - I thought this was a free state in which I could barter as much as I wanted all the time, not? Can I pay any AZ state fee or taxes in nuggets now? If not, why do we need a bill and associated bureaucracy that does not change anything from before? - Your tax-dollar hard at work in our legislature again. LOL
Whatever
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Old 04-13-2013, 11:05 AM
 
Location: Pinetop-Lakeside, AZ
2,925 posts, read 3,092,454 times
Reputation: 4457
more whatever
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Old 04-13-2013, 12:04 PM
 
Location: Sierra Vista
308 posts, read 791,275 times
Reputation: 701
Even more whatever.
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Old 04-13-2013, 02:15 PM
 
56 posts, read 140,294 times
Reputation: 82
DUH !!
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Old 04-13-2013, 07:39 PM
 
Location: Kingman AZ
15,370 posts, read 39,110,824 times
Reputation: 9215
Quote:
Originally Posted by jainaz View Post
even more whatever.
x2
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Old 04-13-2013, 08:20 PM
 
Location: Pinetop-Lakeside, AZ
2,925 posts, read 3,092,454 times
Reputation: 4457
While I think we all agree about the OP; now that I've researched further the original post of this thread, it seems to be another step by Arizona to 'flex' it's Tenth amendment muscle; but not only that, but to reserve it's own constitutional right to be able to create it's own coin from actual valuable metals (specie). And (I am assuming here) that the intent is to thwart any federal (or other) taxation of converting from the fiat Federal Reserve Note to any specie coin. Ultimately, as far as I can tell, this is the first step at thumbing our noses at the Federal Reserve System.

Text of bill:

http://www.azleg.gov/legtext/51leg/1r/bills/sb1439p.pdf

More references:

Arizona Legal Gold And Silver Currency Bill Moves Forward |

Arizona to Make Silver and Gold Money? | Silver Investing News

So. Another reason I love Arizona. Thanks for the tip, OP!
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Old 04-13-2013, 10:46 PM
 
Location: SE Arizona - FINALLY! :D
20,460 posts, read 26,328,298 times
Reputation: 7627
Quote:
Originally Posted by teddyearp View Post
While I think we all agree about the OP; now that I've researched further the original post of this thread, it seems to be another step by Arizona to 'flex' it's Tenth amendment muscle; but not only that, but to reserve it's own constitutional right to be able to create it's own coin from actual valuable metals (specie). And (I am assuming here) that the intent is to thwart any federal (or other) taxation of converting from the fiat Federal Reserve Note to any specie coin. Ultimately, as far as I can tell, this is the first step at thumbing our noses at the Federal Reserve System.

Text of bill:

http://www.azleg.gov/legtext/51leg/1r/bills/sb1439p.pdf

More references:

Arizona Legal Gold And Silver Currency Bill Moves Forward |

Arizona to Make Silver and Gold Money? | Silver Investing News

So. Another reason I love Arizona. Thanks for the tip, OP!
It's a dumb and pointless law - not only that, but it's late getting on the "gold bandwagon". The "gold rush" is over and gold prices are on the way back down. It was a bubble fueled by the silly expectation that inflation was going to surge and the dollar collapse - NEITHER of which HAS happened, and NEITHER of which WILL happen. Now that realization of that is starting to sink in, gold is being abandoned. It's now down to where it was nearly 2 years ago and likely still has further to fall. I've tried to warn people of this but sadly few of them listened. I saw the same thing happen in 1980 (and for the very same reasons) and it's happening again now - a huge runup in gold on the expectation of "doom and gloom" for the U.S. dollar - and then finally the realization that those fears were way overblown - which in turn leads to a major decline in the price of gold.

Ken

Last edited by LordBalfor; 04-13-2013 at 11:12 PM..
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Old 04-14-2013, 06:51 PM
 
2,806 posts, read 3,177,941 times
Reputation: 2703
Quote:
Originally Posted by LordBalfor View Post
It's a dumb and pointless law - not only that, but it's late getting on the "gold bandwagon". The "gold rush" is over and gold prices are on the way back down. It was a bubble fueled by the silly expectation that inflation was going to surge and the dollar collapse - NEITHER of which HAS happened, and NEITHER of which WILL happen. Now that realization of that is starting to sink in, gold is being abandoned. It's now down to where it was nearly 2 years ago and likely still has further to fall. I've tried to warn people of this but sadly few of them listened. I saw the same thing happen in 1980 (and for the very same reasons) and it's happening again now - a huge runup in gold on the expectation of "doom and gloom" for the U.S. dollar - and then finally the realization that those fears were way overblown - which in turn leads to a major decline in the price of gold.

Ken
Indeed. All asset classes have a strong mean-reversion tendency. Gold was in a bear market 1980-2000ish and a strong bull move for 10+ years ensued. Nobody knows for sure when the mean reversion sets in (or if it has already started), but touting gold after this up move like fear-monger Glenn Beck on Goldline (or something similar) is deeply unethical. It sucks in the typical bagholders, the near-broke middle class who invests their last meager savings into a high-volatile and non interest-bearing asset. I hope this is not a factor in this nonsense law, touting gold and silver as a "save" investment, because it is everything but that.
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Old 04-14-2013, 06:56 PM
 
2,806 posts, read 3,177,941 times
Reputation: 2703
Quote:
Originally Posted by teddyearp View Post
While I think we all agree about the OP; now that I've researched further the original post of this thread, it seems to be another step by Arizona to 'flex' it's Tenth amendment muscle; but not only that, but to reserve it's own constitutional right to be able to create it's own coin from actual valuable metals (specie). And (I am assuming here) that the intent is to thwart any federal (or other) taxation of converting from the fiat Federal Reserve Note to any specie coin. Ultimately, as far as I can tell, this is the first step at thumbing our noses at the Federal Reserve System.

Text of bill:

http://www.azleg.gov/legtext/51leg/1r/bills/sb1439p.pdf

More references:

Arizona Legal Gold And Silver Currency Bill Moves Forward |

Arizona to Make Silver and Gold Money? | Silver Investing News

So. Another reason I love Arizona. Thanks for the tip, OP!
Well, our governor always stresses how we should follow the law in interviews concerning immigration. I hope she follows her own logic when it comes to currency, which is regulated by Congress. I do not hope Arizona is challenging Congress in regulating currency. If this is the case, she has to veto this law anyways, unless she is a hypocrite.
I do not see the law this far-reaching, though. It does not change anything anyways:
1. I can already contract with any private person and buy or sell goods/services for gold and silver.
2. I cannot pay any state fee or taxes with gold and silver.
Neither of the two facts are changed by the law, so what is the sense here? Looks like a complete waste of tax-payer money.
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