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October 3rd, 2011 
FAKE NEWS for the Zionist agenda 
Ron Hera
Infowars.com
Oct 2, 2011
Earlier this week I attended the Utah Monetary Summit in Salt Lake City, Utah. As you may know, the state of Utah passed a Legal Tender Act earlier this year authorizing the use of federally minted gold and silver coins as money in the state of Utah. Now, legislators in other states, many of whom attended the Monetary Summit, are evaluating similar legislation.
Among other things, this means the United States is approaching a Constitutional crisis because states are beginning to financially break away from the federal government. This is no less serious than the American War of Independence or the War Between the States. The Utah Monetary Declaration (below) is a financial declaration of independence whereby states are beginning to opt out of the Federal Reserve System. A major confrontation seems inevitable.
The issues underlying this historic development include:
1. The unsound condition of large U.S. banks, which have inaccurate and crumbling balance sheets along with $250 trillion in high-risk OTC derivatives contracts;
2. The unstable nature of the U.S. and world financial systems, characterized by unworkable levels of sovereign debt and private debt and by over $600 trillion in OTC derivatives liabilities;
3. The excessive levels of federal government debt and unfunded liabilities combined with falling federal tax revenues prior to the start of the double-dip recession that began in the second half of 2011;
4. The radically inflationary monetary policies of the federal government and of the Federal Reserve, which promise high inflation or hyperinflation in the future;
5. The worsening condition of the real U.S. economy outside of large banks, multinational corporations, and Wall Street firms, where federal government bailouts and Federal Reserve monetary easing (money printing) transfer wealth from proverbial Main Street to literal Wall Street;
6. The rapidly escalating polarization of the distribution of wealth, which threatens not only the economic stability of the United States but also its social and political stability; and
7. The current, highly inflationary monetary system is plainly unfair and fundamentally immoral.
As a consequence of these grave, ongoing and growing problems, which are being largely ignored by the mainstream news media, state governments must take immediate action to ensure the functioning of local economies and of state governments, should the federal government / Federal Reserve System break down. Specifically, there is an urgent requirement for an alternative currency to the privately issued Federal Reserve Note, which is erroneously referred to as the “U.S. dollar.”
Replacing a stable form of money with ever expanding debt and inflation undermines capitalism and destroys jobs. The monopolistic monetary system of the United States today is inherently inflationary because it must continually expand in order to prevent a deflationary collapse. The underlying structure and root cause of the monetary system’s inherent and inescapable inflationary bias is the legal construction of money as debt with no direct link to real economic activity. Debt levels in the economy and bank profits are simply out of line with reality.
- A d v e r t i s e m e n t
In addition to the unsustainable and unstable nature of such a system, an inherently inflationary monetary system destroys savings by devaluing the currency. Savings, which are the result of excess production, precisely define the term “capital.” Replacing capital with debt, while highly beneficial for banks that create money out of thin air (through lending), is a deeply flawed concept responsible for the systematic and ongoing breakdown of capitalism in America. This deep, structural problem is the absolute root cause of chronic, irremediable unemployment. As a consequence, there will be no genuine economic recovery in the U.S. and jobs will not return unless and until the monetary system is fundamentally reformed.
An ultimately more important issue is also garnering attention among state legislators, prominent (non Keynesian) economists, religious leaders, political activists and voters. Inflation, particularly if it is systematically understated by the federal government or Federal Reserve, robs savers of the proceeds of past labor and robs workers of the spending power of their wages, living standards and financial futures. Inflation robs the elderly of their retirement and robs investors of their capital by facilitating taxes on alleged gains created solely by currency debasement. Legal tender, created as debt, results in ever larger debt burdens thrust upon innocent future generations that will experience progressively lower living standards and reduced economic opportunity. Generations to come will be born into debt bondage, thus the monetary system is at the center of a profound moral crisis.
The morally and literally bankrupt nature of the current U.S. financial system is transforming America into a dog-eat-dog society where every person seeks to live at the expense of someone else rather than by producing wealth, because production is systematically stolen by the federal government and by banks through the clever device of an inflationary monetary system. The monetary system operates by exchanging fictitious “wealth” (debt based money created out of thin air by private banks) for the real wealth of borrowers, i.e., the proceeds of their labor. In effect, the monetary system is a massive scam purported to be legal but lacking any demonstrable legal authority. Specifically, there is no Constitutional or other legal basis upon which the federal government can force a private monetary monopoly on the states. In fact, the Constitution of the United States explicitly establishes the exact opposite.
The oversized banking system and federal government have grown in an unholy alliance in lock-step and now consume so much of the U.S. economy that, together, they not only pillage the real economy but threaten to kill, once and for all, what is left of the free country founded by the Declaration of Independence. The moral precedent and example set at the highest levels of the federal government and of the banking cartel is that profit, fame, success and wealth are (either directly or indirectly) rewards for immoral acts rather than for honesty in business. Moral corruption at the top–embedded in the very structure of the monetary system–has slowly spread its gangrenous effect, undermining totally the founding principles of the United States of America, enshrined in the Constitution of the United States and in the Bill of Rights. Rather than liberty, America’s legacy is fast becoming one of moral turpitude enshrined in financial injustice and oppression.
The challenge before our nation today–our moment in history–is not merely a financial or economic or political or legal / Constitutional crisis. It is also, and primarily, a moral crisis that could literally destroy the United States of America and all that it has stood for in more than two centuries. A stable society requires sound principles. A moral society requires sound money. Today, the United States of America has neither.
This message is a call to action. In the words of poet Dylan Thomas, let us say for America “Do not go gentle into that good night / Rage, rage against the dying of the light.”
I am personally asking you to read the Utah Monetary Declaration (below), which I, among many others, signed on Monday evening, September 26, 2011, in the Post Chapel on the University of Utah campus at Salt Lake City, and to forward it to all, especially to your state officials. Time is of the essence. Although its duration and pace are as yet unclear, the crisis is already upon us. Please act now and do not delay.
This article was originally posted on Before It’s News.
60 Responses to “Utah Monetary Declaration: States Can Financially Break Away From Federal Government”
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THESE PROTESTS ARE ALL A HOAX TO GET OBAMA RE-ELECTED!!! Take a look at the Occupytogether.org website. It lists almost every major city in the U.S. to take part in the protests every week for the next few months. Now add the fact that they promote Obama being re-elected since Obama is against the bankers on the outside, while on the inside he is working with them to deceptively screw the people yet again, he is using the people in the protests to CAMPAIGN FOR HIM rather than have him going around campaigning. REMEMBER: Obama said he was ending his campaign until he fixes up the job situation. He is not going to fix the job situation. While he pretends to do that, the protesters will be campaigning and doing the work for him. Then he sits back, does nothing, all the while screwing the American people again with another OBAMA DECEPTION backed by the George Soros and the corporate elite. It’s all right there. DO THE RESEARCH!! The illuminati cards say that protestors will kill policemen and others in the name of peace and by that, the great deception will come afterwards. DON’T FALL FOR THEIR TRICK!!! It’s all well orchestrated. KNOW WHO AND WHAT YOU ARE FIGHTING FOR!!! RON PAUL 2012!!! KEEP THAT IN YOUR HEADS AND YOU WILL BE FREE!!!
The corporations demand welfare states so they have good markets, but at the same time to forbid the people from growing Hemp. And then there are the cannabis political prisoners of big-pharma. The corporate monopoly religion has buggered up free-markets and free-enterprise — lowering the human productive potential for their own selfish criminal greed. The concept of “fair-profit” is seldom practiced.
I’m so disappointed that Utah has beaten Texas in the pursuit of sound fiscal policy in an ever crumbling fiat worthless paper economy but I’m happy that there exist a State out there with leadership with the kind of courage that Texas once represented. Way to go Utah from the State of Texas where Metro Sexual’s, Nancy Boys and Butchy Bitches have destroyed all that was once good about our State.
Off topic but since when was the Civil War called the War Between the States?
Where have you been? This is a VERY common term used by both North and South ……
its been called the war between the states since the war between the states.
Both “Civil War” and “War Between the States” are propagandized titles designed to hide the fact that the 1861-1865 war was an illegal, unconstitutional invasion of a nation called the Confederate States of America by the USA. The primary cause of this bloody war was unequal tariffs, which after some 50 years of negotiations for the fairness required by the Constitution, became worse. Strange that slavery was never an issue. But war is a racket and it’s certain that the industrialists, banksters and publishers of the time loved this war and helped it along.
In 1863, Lincoln issued the so-called emancipation proclamation which did NOT free any slaves, and in fact was a desperate attempt by Lincoln’s handlers to bribe states into leaving the Confederate States by granting them unconditional slave rights — YES LINCOLN ENDORSED SLAVERY INCLUDING THE AFRICAN AMERICAN SLAVE TRADE. Lincoln was a racist as was his administration (handlers).
The Constitution of the Confederate States of America outlawed the African slave trade — YES, slave trading became illegal in the South in 1861. Slavery did not end in the North until 1867.
This war was not a “civil war” because that definition implies an internal war fought primarily by civilians.
This war was not a “war between the states” because the two sides were the United States and the Confederate States. “War between the states” implies that individual states were fighting each other.
The Confederate States of America did rather well considering it was outnumbered 9 to 1 on key items such as munitions, army strength, railroad capacity, etc. Normally, such a war would be over in weeks if not days. One key reason was that many citizens of the United States (the North) realized that this was an illegal war, and although under-reported (and unreported many times), there was a large uprising in the United States, nearly a civil war in itself, and tens of thousands of U.S. citizens were illegally and unconstitutionally imprisoned for protesting against the illegal war.
footnotes:
A history book published in the late 1800′s mentions a staged attack in Baltimore against “union” troops. Lite Fort Sumter, it was another false flag where nobody was killed. Good luck finding that fact in any history book published since 1913!
The term “union” was a propagandized and heavily overused term used to brainwash the masses in the United States at the time. It was even more over used than the phrase “remember the Maine,” used as a slogan to start the highly profitable Spanish-American war. The “Maine” was the U.S.S. Maine, a U.S. ship which was destroyed by the U.S. and blamed on Spain to help start the war.
What most also don’t know is how the British Crown of England helped this with funding that was offered to the South North, but only the south refused the crowns money and support. The British was behind the civil war, and the use of slavoury as the reason for it.
Utah is not financially breaking away from the government, it breaking away from the Federal Re
serve and heading back toward the Constitution…
Section. 8.
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow Money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;
To establish Post Offices and post Roads;
To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries;
To constitute Tribunals inferior to the supreme Court;
To define and punish Piracies and Felonies committed on the high Seas, and Offences against the Law of Nations;
To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;
To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years;
To provide and maintain a Navy;
To make Rules for the Government and Regulation of the land and naval Forces;
To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions;
To provide for organizing, arming, and disciplining, the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by Congress;
To exercise exclusive Legislation in all Cases whatsoever, over such District (not exceeding ten Miles square) as may, by Cession of particular States, and the Acceptance of Congress, become the Seat of the Government of the United States, and to exercise like Authority over all Places purchased by the Consent of the Legislature of the State in which the Same shall be, for the Erection of Forts, Magazines, Arsenals, dock-Yards, and other needful Buildings;–And
To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof
Section. 10.
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
I think they are clearly moving away from the Constitution, which allows only Congress to issue currency. Which we don’t have, a usury based credit supply is a piss-poor form of currency.
“WHEREAS, for the equal protection of all people, rich and poor, the open circulation of complementary and competing currencies should be fostered and promoted by every sovereign state, including those of The United States of America pursuant to their monetary powers”
The problems, among many of ‘protecting the (truly) rich’, is that CREDIT pulls real currency out of circulation. Constitutional money which is currently only gold, silver and base metal coinage is already, I repeat ALREADY interchangeable, that is it ‘competes’ and loses badly against Fed credit. The interest and temporary nature of credit kills the economy. We are being had, yet again.
so whats your point? send it to congress, they have only read it once, and they probly dont remember it.
I could get into living in MOAB even before this legislation was passed. Oregonians need to jump on this bandwagon.
I think a couple people below have stumbled on to something amiss here, and unfortunately I KNOW that Infowars will miss it, and promote this as Nirvana or something. I really don’t mean to rain on people’s parade who champion this, but hold on just a minute while I explain something. If I’m wrong I’ll gladly admit it.
Alex used to say that Big Pharma wrote Obamacare, and Big Agribusiness wrote various other bills. Do you think the banksters with their ultimate power and trickery haven’t been dreaming how to dupe people through lobbying for an ‘Anti-Banker’ bill, yet again? Shades of Jekyl Island? If I were a bankster, I too would (secretly) champion this bill.
When Infowars first aired this idea of states adopting gold as currency maybe 3 months ago I pointed out that ‘making gold legal to pay off debts’ was hardly an accomplishment. You don’t think international bankers want you to pay the humongous compounded interest debts (USURY) with gold!? You bet they do!! The debts are a function of fraud. Banksters pushed the public to pay what they cannot, by leading them to think they have a currency when they only have CREDIT in the form of Fed notes to trade with. Trading Gold for Fed Credit Interest Usury is a terrible idea.
From the article: “stimulating the economy and by attracting foreign capital” – these are the same old phrases spouted in any standard economics textbook. You don’t need to attract ‘foreign capital’ if you’re government is free of bankster control!!! I rest my case almost right there, the fingerprints of deception are all throughout the bill’s language. Sorry people. They aren’t talking about replacing CREDIT as currency (and it’s associated debt) with non-credit currencies. They are talking about maintaining the status quo, but just diversifying a bit. We’ve all been ‘had’, but it’s because we aren’t aware of the very basics: CREDIT as currency sucks the wealth out of the economy, through the bankers fee (interest). This is called Usury, which is against biblical teachings, and Islamic too.
Eliminating credit and it’s corresponding debt, with a currency that stays in circulation is a solution. NOWHERE IN THE BILL LISTED BELOW DOES IT TALK ABOUT ‘credit’, OR ELIMINATING IT. At least I didn’t see it, I’m ready to analyze this more, but it fails fails fails just as it did 3 months ago. I WANT TO PAY THE BANKSTERS’ DEBTS WITH GOLD!!! I AM A DUMMY… YAAAAYYYY!!!
MY HATS OFF TO UTAH!
notice it says federally minted.
This is incisive, insightful, accurate, on target, well written, clear, unambiguous, powerful, and vital information. More than that, it is absolutely essential information, at the very core of our struggle to remain afloat.
It is the best article we’ve seen by far in this area.
Not to criticize, but it could have been improved by pointing the finger at those who have engineered this diabolical monetary scam, and what redress we might have against those foreign criminals in England and Europe. Until we take them down, decisively, they will keep at it, never at a loss for ingenious new tricks and scams.
Thanks for a job well done! May we see this again, as it moves along its rocky road through corrupted politicians! We are all hoping it will succeed, and that other states in dire distress will eagerly catch on.
It’s always the same scam:
“You owe us more.”
“Why?”
“Because you can’t repay us.”
“Why?”
“Because you owe us too much.”
“Why?”
“Because you can’t repay what you owe.”
“Why?”
“Because you are too deeply in debt.”
“Why?”
“Because your debt to us cannot be repaid.”
“Why?”
“Because you owe us more money.”
Way to go Utah!
Declaration follows:
——————————
Utah Monetary Declaration
WHEREAS, money, as a medium of exchange, a store of value, and a unit of measure promotes economic activity, growth and productivity by facilitating specialization and trade, the accumulation of wealth and its long-term investment, as well as accountability in setting prices, tracking progress, and settling accounts;
WHEREAS, natural money – precious metal coin – by virtue of its inherent qualities of recognizability, measurability, uniformity, divisibility, durability, portability and scarcity has reliably retained its purchasing power, notwithstanding periodic fluctuations, over the centuries and millennia of human history, serving as an effective medium of exchange and store of value often without any governmental declaration to require, legitimize or perpetuate its adoption and operation as such;
WHEREAS, sound money, by retaining stable purchasing power over time, best serves societal needs by substantially reducing the uncertainty of inflation risk for creditors and deflation risk for debtors as well as encouraging saving and investment among the general populace and benefiting the economic zone in which it circulates by stimulating the economy and by attracting foreign capital and commerce to the region;
WHEREAS, history attests that monopolistic monetary systems frequently engender currency debasement, resulting in serious consequences such as lost purchasing power, inequitable wealth redistributions, misallocation of productive resources, and chronic unemployment, and that, as the cornerstone of a free market and society, the right to choose, whether between suppliers of goods and services, political parties and candidates, or between alternative media of exchange, effectively promotes the general welfare;
WHEREAS, for the equal protection of all people, rich and poor, the open circulation of complementary and competing currencies should be fostered and promoted by every sovereign state, including those of The United States of America pursuant to their monetary powers (expressly reserved in article 1, § 10 and in the 10th amendment of the United States Constitution) to monetize gold and silver coin as an alternative, voluntary medium of exchange, and as an effective check and balance against debasement of the national currency by the national government which is constitutionally precluded from demonetizing state legal tender, through disparate tax treatment, discriminatory regulation, the threat of suppression and seizure, or otherwise;
NOW THEREFORE, we the undersigned hereby declare and affirm that:
1. As an essential element of true liberty and of the pursuit of happiness in a free society, all people enjoy the inherent and unalienable right to lawfully acquire, hold and use as a medium of exchange whatever form or forms of money they may prefer, including especially gold and silver coin.
2. All free and sovereign states bear the moral, political and legal obligation not only to refrain from debasing their own currencies (except under the most exigent circumstances) and from erecting barriers to the unfettered circulation of monies issued under the authority of their sovereign trading partners, but also to affirmatively defend and protect against fraud, counterfeiting, uttering, passing off, embezzlement, theft or neglect by requiring full transparency and accountability of all state chartered financial institutions.
3. No tax liability nor any regulatory scheme promoting one form of money over another should apply to: (a) the holding of any form of money, in a financial institution or otherwise; (b) the exchange of one form of money for any other; or (c) the actual or imputed increase in the purchasing power of one form of money as compared to another.
4. Except in the case of governmentally assessed taxes, fees, duties, imposts, excises, dues, fines or penalties, the authority of government should never be used to compel payment of any obligation, contract or private debt in any specific form of money inconsistent with the parties’ written, verbal or implied agreement, or to frustrate the intent of contracting parties or impair contractual obligations by invalidating the application of a discount or surcharge agreed to be dependent upon the particular medium of exchange or method of payment employed.
5. The extent and composition of a person’s monetary holdings, including those on deposit with any financial institution, should not be subject to disclosure, search or seizure except upon adherence to due process safeguards such as requiring an adequate showing of probable cause to support the issuance by a court of competent jurisdiction of a lawful warrant or writ executed by legally authorized law enforcement officers.
We hereby urge business leaders, educators, members of the media, legislators, government officials as well as judicial and law enforcement officers to use their best combined efforts to reinstate and promote the legal and commercial framework necessary to establishing and maintaining well-functioning, sound monetary systems based on choice in currency.
The signatories hereto concur in the general principles expressed in the foregoing declaration notwithstanding specific reservations some may have as to how such principles should be interpreted and applied in practice.
Ron Hera
First Substitute H.B. 317
Representative Brad J. Galvez proposes the following substitute bill:
1 CURRENCY AMENDMENTS
2 2011 GENERAL SESSION
3 STATE OF UTAH
4 Chief Sponsor: Brad J. Galvez
5 Senate Sponsor: Scott K. Jenkins
6
7 LONG TITLE
8 General Description:
9 This bill recognizes gold and silver coins that are issued by the federal government as
10 legal tender in the state and exempts the exchange of the coins from certain types of
11 state tax liability.
12 Highlighted Provisions:
13 This bill:
14 . provides definitions;
15 . recognizes gold and silver coins issued by the federal government to be legal tender
16 in the state;
17 . does not compel a person to tender or accept gold and silver coin;
18 . provides that the exchange of gold and silver coins for another form of legal tender
19 does not create any individual income or sales tax liability;
20 . requires the Revenue and Taxation Interim Committee to:
21 . study the possibility of establishing an alternative form of legal tender;
22 . recommend whether an alternative form of legal tender should be established;
23 and
24 . prepare any recommended legislation for the 2012 General Session; and
25 . enacts an uncodified severability clause.
26 Money Appropriated in this Bill:
27 None
28 Other Special Clauses:
29 None
30 Utah Code Sections Affected:
31 AMENDS:
32 59-10-1002.2, as renumbered and amended by Laws of Utah 2008, Chapter 389
33 ENACTS:
34 59-1-1501, Utah Code Annotated 1953
35 59-1-1502, Utah Code Annotated 1953
36 59-1-1503, Utah Code Annotated 1953
37 59-1-1504, Utah Code Annotated 1953
38 59-10-1025, Utah Code Annotated 1953
39 Uncodified Material Affected:
40 ENACTS UNCODIFIED MATERIAL
41
42 Be it enacted by the Legislature of the state of Utah:
43 Section 1. Section 59-1-1501 is enacted to read:
44
Part 15. Legal Tender Act
45 59-1-1501. Title.
46 This part is known as the “Legal Tender Act.”
47 Section 2. Section 59-1-1502 is enacted to read:
48 59-1-1502. Gold and silver coin.
49 (1) Gold and silver coin issued by the federal government is legal tender in the state.
50 (2) A person may not compel any other person to tender or accept gold and silver coin
51 that is issued by the federal government.
52 Section 3. Section 59-1-1503 is enacted to read:
53 59-1-1503. Nonrefundable credit — Sales tax exemption.
54 (1) There is a nonrefundable credit established for any capital gains incurred from the
55 exchange of gold and silver coin issued by the federal government for another form of legal
56 tender as provided in Section 59-10-1025 .
57 (2) The exchange of gold and silver coin issued by the federal government for another
58 form of legal tender is exempt from sales and use taxes as provided in Subsection
59 59-12-104 (50).
60 Section 4. Section 59-1-1504 is enacted to read:
61 59-1-1504. Revenue and Taxation Interim Committee study.
62 The Revenue and Taxation Interim Committee shall during the 2011 interim:
63 (1) study the possibility of establishing an alternative form of legal tender for the
64 payment of debts, public charges, taxes, and dues within the state;
65 (2) recommend whether legislation should be drafted to establish an alternative form of
66 legal tender; and
67 (3) prepare any legislation that the Revenue and Taxation Interim Committee
68 recommends in accordance with Subsection (2) for consideration by the Legislature during the
69 2012 General Session.
70 Section 5. Section 59-10-1002.2 is amended to read:
71 59-10-1002.2. Apportionment of tax credits.
72 (1) A nonresident individual or a part-year resident individual that claims a tax credit
73 in accordance with Section 59-10-1017 , 59-10-1018 , 59-10-1019 , 59-10-1021 , 59-10-1022 ,
74 59-10-1023 , [or] 59-10-1024 , or 59-10-1025 may only claim an apportioned amount of the tax
75 credit equal to:
76 (a) for a nonresident individual, the product of:
77 (i) the state income tax percentage for the nonresident individual; and
78 (ii) the amount of the tax credit that the nonresident individual would have been
79 allowed to claim but for the apportionment requirements of this section; or
80 (b) for a part-year resident individual, the product of:
81 (i) the state income tax percentage for the part-year resident individual; and
82 (ii) the amount of the tax credit that the part-year resident individual would have been
83 allowed to claim but for the apportionment requirements of this section.
84 (2) A nonresident estate or trust that claims a tax credit in accordance with Section
85 59-10-1017 , 59-10-1020 , 59-10-1022 , [or] 59-10-1024 , or 59-10-1025 may only claim an
86 apportioned amount of the tax credit equal to the product of:
87 (a) the state income tax percentage for the nonresident estate or trust; and
88 (b) the amount of the tax credit that the nonresident estate or trust would have been
89 allowed to claim but for the apportionment requirements of this section.
90 Section 6. Section 59-10-1025 is enacted to read:
91 59-10-1025. Nonrefundable tax credit for capital gain transactions on the
92 exchange of gold and silver coin for another form of legal tender.
93 (1) As used in this section:
94 (a) “Capital gain transaction” means a transaction that results in a:
95 (i) short-term capital gain; or
96 (ii) long-term capital gain.
97 (b) “Long-term capital gain” is as defined in Section 1222, Internal Revenue Code.
98 (c) “Short-term capital gain” is as defined in Section 1222, Internal Revenue Code.
99 (2) Except as provided in Section 59-10-1002.2 , for taxable years beginning on or after
100 January 1, 2012, a claimant, estate, or trust may claim a nonrefundable tax credit equal to the
101 product of:
102 (a) to the extent a capital gain is not offset by a capital loss under Chapter 1,
103 Subchapter P, Capital Gains and Losses, Internal Revenue Code, the total amount of the
104 claimant’s, estate’s, or trust’s short-term capital gain or long-term capital gain on a capital gain
105 transaction from an exchange made on or after January 1, 2012, of gold or silver coin issued by
106 the federal government for another form of legal tender; and
107 (b) 5%.
108 (3) A claimant, estate, or trust may not carry forward or carry back a tax credit under
109 this section.
110 (4) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the
111 commission may make rules to implement this section.
112 Section 7. Severability clause.
113 If any section of this bill or the application of any section of this bill to any person or
114 circumstance is held invalid by a final decision of a court of competent jurisdiction, the
115 remainder of this bill shall be given effect without the invalid section or application. The
116 provisions of this bill are severable.
Someone please correct me if I am wrong, but Ameica’s gold, silver coins and bullion backed notes were never minted or issued by the Federal Reserve, but rather from the US Treasury.
If Utah and other states opt out and begin using US Treasury backed coins and notes, it circumvents the Fed altogther, from inflation of fiat currency, to taxation. As far as I know, the real reason the church is tax exempt, is because the church purchased using gold, which can’t be taxed because it’s not Federal Reserve issued. If it’s not Federal Reserve issued, the Fed can’t tax it and it would be like them trying to collect taxes on a rice deal in China. They have no hold over real bullion truth be told and it scares the living pee right out of them as more and more Americans realize this little known fact.
Example: if you bought a 1 ounce gold coin a decade ago and paid only $300.00 dollars, today it’s worth aproximately $1700.00 and THEY CAN’T TAX YOU ON CAPITOL GAINS. If on the other hand you put the Fiat money in the bank, you’d have to pay a capital gains tax on the $1400.00 of capital gain. When everyone realizes this, the Fed will be all done and NO ONE will want to save using the Federal Reserve’s form of currency and, “debt money,” which has been deliberately designed to rob you little by little every day.
And here is another twist when you consider investment money. If you had saved that same $300.00 using conventional banking for a decade, there is no way it would have risen to a value of $1700.00 and if you went to withdraw it you might get somewhere between $400.00 and $500.00 bucks and a gain of perhaps $200.00 dollars. But in reality that’s a huge loss on your conventional investment because when you subtract $500.00 from the real potential of $1700.00, you actually lost $1200.00 using the Federal Reserve’s banking system.
And here is the real clincher, when you spend gold, you pay no capital gains tax, no matter how long you had it and how much value it gained. With the Federal Reserves currency system, the Fed want’s to tax you on the way out of the door for any investment you made, that gained any value over time.
When you look at it from this perspective, the Fed is literally screwing you till your butt bleeds, whenever you use their currency system, which was designed by a bunch of crooks, with the sole intent of robbing your savings and gains, whenever you allow them to get their hands on it by using their corrupt version of currency and banking.
IMO, this was also one of the factors that led up to JFK’s assassination, because he defied the Fed agreement and had the US Treasury mint out dollars based upon US Treasury bullion and backing.
What it meant was that US citizens would not be hit with the Fed’s inflationary tax and currency devaluation, that happens whenever America borrows money from the Fed, issued out in the form of a Federal note. US Treasury notes do not perform that way because they are free of interest payback to the Fed.
Because this would have cost the Fed billions in potential interest, well, umm, you know how billion dollar deals with losses are frowned upon by the mob when they get dealt out of the money grabbing loop. Someone, usually the one responsible get’s shot dead, as the rule book demands, which they obviously demanded and NO ONE ever rips off the legitimized crooks, NO ONE, not even JFK – truth be told. There is more to this story than that though, but that’s enough for now and certainly more than enough to think about, as everyone wakes up to the reality tune.
The rest is all mass brainwashing and propaganda to give the organized criminals the appearance of law abiding, high staus men in suits and ties. Oh wait a minute, I think Al Capone also did the same and then there was St. Valentines Day massacre – truth be told.
Said another way, it’s only organized crime when everyone understands and knows about it, otherwise it’s men in suit and ties running our banking and our country.
SHINE THE LIGHT BRO, SHINE THAT LIGHT!!!
Once you understand, politics as we’ve known it, never looks the same.
It’s like going from childhood and entering the adult world in a place like Las Vegas and it will never look the same. It’s like we passed right over family values and patriotism and now we have money, prostitutes and bouncers running the world, where anything goes as long as one can afford to pay for it.
Say you work for a big corporation, and get your pay automatically transfered into a bank account. not only was no currancy used but mr taxman will still want his cut. You are saying you want you employer to pay you directly in coins? Try this and I still think they will say it’s income even though I think it’s an even trade of labor for money or currency. I think we are still fucked as long as the FED, IRS, and accomadating GOVT are involved. Just my opinion
Back in the day, JFK was America’s only resistance to this global cabal and take over, using massive debt and obligation created by the Federal Reserve’s currency system.
JFK stood at the very cross roads long before the average citizen could possibly understand.
But as time has passed and America has been deliberately and covertly entrapped by Fed’s debt money machine, more people are waking up and realizing what JFK fully understood and knew back in his day.
He made a stand and for that he was assassinated and it’s becoming clearer and clearer by the day what was a stake, as America now pays the piper that JFK had dared to oppose. Checkmate, endgame and now you know.
My only question is, how do we turn it against them, realizing they killed a United States president covertly and in all likelyhood would drop a nuke somewhere, in order to reap the benefits of a one world government under the lash of a one world currency, all Marshalled covertly by co-opted global armies that march to a tune from Hell?
That IS the rub. We’re not going to get out of it.
States have a perfect constitutional right to separate themselves from the Federal Reserve, and from the Federal Government that has come under direct control of the bankers who run the Federal Reserve System, not only for the reasons described in the above article, but because the Federal Reserve is both an illegal and unconstitutional entity. It is not a federal agency, but is rather a private and criminal multinational banking cartel.
The “passage” by Congress of the Federal Reserve Act of 1913 was completely fraudulent. In order for the Act to have legally handed control of the country’s money supply and the printing of paper money to a few privately-owned banks, the U.S. Constitution must have been amended, according to Article V. But that was not done. The Act was therefore not legally binding on anyone, and for the U.S. Congress and the rest of government to implement the Act as if it had become law was an act of treason.
Furthermore, if the real law-of-the-land is based on the U.S. Constitution, then giving a private banking cartel the “authority” to print paper money violates the Constitution outright, which specifically prohibits “bills of credit”, including paper banking notes, and instead says that “only” gold and silver can be used as money in the U.S.
Thus, for Ben Bernanke to say gold is not money is not only an absolute lie, and defied by thousands of years of history, but, as Chairman of the Federal Reserve, also makes Bernanke a traitor.
Federal Reserve Notes, commonly called “U.S. dollars”, are not dollars at all. Paper currency used as a medium of exchange does not include bank-notes, bonds, or other evidence of debt. Federal Reserve Notes are, in fact, IOUs, that have nothing backing them. They are therefore no more valuable than play-money. And since these notes are rapidly losing standing all over the world, it is imperative that the States take action to preserve state-wide economies, before it’s too late.
However, since the banksters behind the Federal Reserve have control of the Federal Government, you can bet your bottom dollar that any movement by the States to embrace their rights and depart from the Federal Reserve System will be met with intense but illegal and unconstitutional punishment from the Federal Government.
Even so, constitutionally, if Congress will not correct its past treasonous affort, then only the States standing up for their rights can effectively oppose the Federal Reserve with provable legality.
Well said!
Correct it?! How can one undo the unfathomable damage done to life, liberty, and prosperity?
Mr. Richter says: “…giving a private banking cartel the “authority” to print paper money violates the Constitution outright, which specifically prohibits “bills of credit”…”
I agree, therefore their fraudulent INTEREST charged on that CREDIT, should be ignored on legal and especially moral grounds. The national and state and municipal and personal and business debts are either partially or many times over a function of this compounded USURY interest. If this bill sought to do anything constructive, it would address this issue. This bill is either deception or doomed to be forgotten anyway, as we go down the toilet.
This bill will not address the credit problem or it’s resulting debt problem, which is why it has not been pushed back by bankster interests. This bill is a scam because it studiously avoids using the words ‘debt-free’ currency (or constitutional money), and instead relies on the WEASEL word of ‘sound’ money which sounds nice, but it means gold backed CREDIT, or maybe just Rocker-child ‘asset’ backed CREDIT. It even demonizes Constitutional money as ‘monopolistic’ (did you catch that?). The bankers wrote this, they wrote it in two languages: exoteric for you, and esoteric for them.
How do you recognize credit in a system? When there’s a shortage of ‘money’ or currency in the economy, and people and businesses require ‘loans’ all the time. Loans are a symptom of a shortage of currency, and all that money loaned out eventually leaves the economy again, as well as the interest the banksters take out later (USURY). I guarantee everyone will love this deception. You can’t say I didn’t warn you though.
Ask China how much filler the federal reserve puts in the bullion. The reserve can’t be trusted, must not be trusted, and must be abolished.
Citizen: Drop your weapons and take this food voucher to FEMA Camp #489.
I foresee something more sinister in this article by the State of Utah. It is The United States Congress that is responsible for protecting our monetary system. It is the Congress that has illegally allowed the Federal Government to plunder the people. And now a State wants the power over the people that the Congress is supposed to legislate and protect the people. I think we should go back to the Wild West, strap on our side arms, and when plunders, and cheats, cheat us, we will deal with the situation ourselves. Shut down all the local Nazi gestapo law enforcement, elect one local Sheriff or Marshall and let the citizens form their own posse. Annex from the Union and if a politician gets out of fucking line, slap his ass upside his head and call him out at noon in the center of town, like Andrew Jackson did.
Hear hear!
It’s the Federal government that places order to the Federal Reserve regarding how much ‘money’ to put into circulation. Taking away the Fed Reserve still leaves the problem of how to get untangled from Washington DC. Of course they can open up a ‘whole bunch’ of little banks around the States and call em ‘State Banks’.
Washington DC has been rackin up the debts for a very long time, and then they passed it on to the States. The States passed it down to the people.
DonJackson is right here, the government personified by Woodrow Wilson, is the stooge between us and the banksters. It’s pretty obvious. What is not so obvious, is that when you have a CREDIT system as we do, you cannot avoid the debts incurred by interest. The interest payments do not exist in the economy as permanent currency or even as temporary credit the banks spew out, hence the government STOOGE ‘has’ to go in to debt, just to stay somehow afloat. If people can figure this out, they’ve mastered a chunk of the field called ‘Monetary Reform’.
I’m agreein with what he said in that why would I trust government anymore than I would trust The Fed which the gov goes to place an order? And States have this little thing called the Uniform Commercial Code to unravel themselves from.
And even R. Paul says a huge debt is owed to China. Im sure the Chinese governemnt would prefer gold over paper; maybe.
Im leaning towards the idea that the Fed ( and other Central Banks ) are going to be dismantled to an extent. The paper money of the Nations are going to be phased out along with the current operations of Central Banks. Central Banks are going to pivot from paper to gold. Gold will help to abolish National borders and ease in Global Trade in a more accepting manner. The World Bank and the Bank for International Settlements are working on this transition. The new Infrastructure Banking is going to have to operate on some form and I dont see how a US dollar or Chinese yuan, or a euro is going to fit the bill
It may be along the lines of e-gold / digital ‘gold’ similar to the e-dinar.
e- dinar.com/html/
Hahahaha thats funny
Hahahaha Thats funny !
I don’t get it.
1 “recognizes gold and silver coins issued by the federal government to be legal tender
in the state;”
What? it wasn’t legal tender before?
2. “does not compel a person to tender or accept gold and silver coin;”
Okay, that’s good, but, look at the U.S. Mint product Catalog, American Eagle Gold Coins specifically…
Composition:
91.67% Gold, 3.0% Silver, Balance Copper. (then look at the price).
3. “study the possibility (my emphasis) of establishing an alternative form of legal tender;”
I don’t know, I guess things have to start somewhere.
The capital gains and Nonrefundable tax credit parts needs more than a cursory inspection from me.
Skip the news article and read the DECLARATION instead…
Never mind… the bill “recognizes gold and silver coins issued by the federal government to be legal tenderin the state”. (le.utah.gov/~2011/bills/hbillint/hb0317s01.htm)
Captain Lightning, you have indeed run into some incongruities of their message. I could speculate exactly what they are trying to say in legalese, but I sense that somebody has infiltrated that group and is setting up a system where gold and silver will be valued all right, but so will the usurous debts from using Fed notes for a century.
You can choose to use Fed notes, (I think they are saying), whether or not they retain any value in the coming years – but you GOOD WELL BETTER PAY THE DEBTS OF THE FORMER SYSTEM, in gold or your first born!
AMEN AND AMEN!
What John Perkins is talking about today on the Sunday re-broadcast is CREDIT given to third world countries. This is important to grasp because it is PRECISELY what has been going on in Western countries but by stealth. We have not so far realized it, which must be pretty satisfying to the elites.
My two cents on this above article is that unless you see the financial system through the lens of CREDIT vs. a currency that stays in circulation, you will get nowhere but further in debt.
Gold or any real currency will be vacuumed up by any credit in circulation. Considering that credit (Federal Reserve Notes) constitute 97% of the money supply, there’s an excellent chance the above ideas for boosting the currency will flat. Excellent chance.
curiouser and curiosier
Good for you Utah, but using “FEDERALLY” minted coins is just another step into another scam. How about using the metals by WEIGHT and PURITY, relying on the FED for anything is a recipe for disaster. This article just tells me your moving from one FED controlled thing to another. More corruption and deception good job Utah.
Keyword of ENTIRE article. “federally” minted gold and silver
I’m not sure that’s the bugaboo, I think the Fed has nothing to do with coins, they left that behind a long time ago.
Fiat you are mistaken my good man, I QUOTED and WILL quote again “FEDERALLY” minted coins was in the article. See one simple word can ruin the entire PROCESS. Using the FEDS for anything is A bad Idea and I stand by that comment.
Vino, Federal and Federal Reserve are two different things. The US Mint has nothing to do with the do with the Federal Reserve. The US Mint, is under the Treasury department and the coins minted by the Treasurary are not Federal Reserve notes. The Silver American Eagle has a $1 value and in considered leal tender, the Gold American Eagles have denominations of $50, $25, $10 and $5 depending on the fractional. They are alos considered legal tender, but only at their face value.
But true using the FED(either Federal Reserve or US Govt) for anything is a bad idea
Yes, the word was in the NEWS article but NOT in the declaration… follow the link to the full article where the declaration is printed or look at my post above where I reprinted the declaration… there is nothing in the declaration that talks about federally minted coins…
Never mind… I take back what I said… the bill “recognizes gold and silver coins issued by the federal government to be legal tenderin the state”. (le.utah.gov/~2011/bills/hbillint/hb0317s01.htm)
ohhhhhh, such rebels they are; useing those ‘federally minted coins’. Lets see..who should I trust the mostestest ? Businesses? Central Banks their networks? Governments? Religious leaders?
Trust no one.
Carry a big stick.
Kill your TV.
Dont believe the Hype.
Do like what was printed on coins: IN GOD WE TRUST.
These days: IN GOD WE TRUST, ALL OTHERS PAY CASH!
Federally minted coins was used by the article writer… the declaration has no such language…
Never mind… I take back what I said… the link here (le.utah.gov/~2011/bills/hbillint/hb0317s01.htm) does say that the bill “recognizes gold and silver coins issued by the federal government to be legal tenderin the state”.
The dayz of national currencies under the Rothschildian system is in it’s twilight. There must be a way, and means..to draw the masses of the World to a shining beacon…the emblem of a new world system of exchange. It will be done thru deception by appearing to be a savior.
Alllllll Aboooooooard
How soon do you think it will be before that happens ?
Paper currencies were more likely, than not likely, to do exactly what they are doing now. They served their purposes just as ‘Central Banks’ accross the World have performed their functions. We can not have a global order…with no borders….and still cling to currencies representing sovereign nations. A global system must have a global currency.
Governments ( and other opportunists ) never let a good crisis go to waste. In fact, the best way to grab the bull by the horns is to not just create a crisis, but sieze the engineered crisis and within it…gain more control. Battles within a war so to speak. And then appear to be a savior and not the circling vultures they really are. Maybe foxes is more suiting than vultures.
The Bank for International Settlements has some fairly revealing information on their own website. The sign above the door may be changed but, the folks runnin operations inside are still the same
Deception is pretty easy if this article is anything to go by. They want to get us off cash to track our every move better, and apparently they want to go to an openly credit system, where they dole out the money once a week because we’ll mostly all be poor.
The deception so far, is that we already had a credit system for a century but didn’t notice. We thought the debts were because we spent more than we paid back, when in fact it was the opposite.