Arizona is on track to become the second state in the nation to recognize gold and silver coins as legal tender, joining Utah as part of a conservative movement stemming from a lack of confidence in the federal reserve and fear that paper money could soon be worthless.
“Arizona is on track to become the second state in the nation to recognize gold and silver coins as legal tender. It would join Utah as part of a conservative movement arising out of a lack of confidence in the Federal Reserve and a fear that paper money could become virtually worthless as U.S. debt deflates the value of the dollar.
Supporters consider the move a potential financial savior and envision a day when residents can carry debit cards funded by the gold they hold in special depositories.
Miles Lester, who represents a group called Arizona Constitutional Advocates, said during a recent public hearing on legal-tender legislation that ‘the dollar is on its way out. Its not a matter of if, its a matter of when,’ quoting Alia Beard Rau in The Republic | azcentral.com.