According to the Colorado State Senators, a bill is in process where silver as well as its counterpart, gold will be legalised for currency uses. Copying alike provision, other 12 states along with Utah is trying to do the same.
Silver being used as an official currency is great news for everybody, but supporters are a bit concerned about the strength of the U.S. dollar.
Those who are associated with the sponsorship of the bill admit that they are worried about the strength of the U.S. dollar, public debt and currency devaluation.
Sen. Kent Lambert, R, told KCNC’s Michelle Griego: “Over history just about every country in the world that has had a serious debt crisis has intentionally inflated their currency.”
Lambert is in full confidence as well duly accepts that using silver and gold coins as cash can easily happen in the United States. Therefore, he is very excited about the bill that will legalise silver and gold coins as official currency. He pointed out: “Coins that are minted by the U.S. government should be something that we can use in trade.”
The United States has banned gold and silver coins after World War. However, these coins can be used in the country, when converted to paper dollars. A $ 20 gold coin of 1800s has the same value of $20. However, its real value has considerably changed in the span of time.
Lambert said that the bill is a way to secure your money. It is not a forceful deed. Its is good for those interested in silver investments.