South Carolina and Idaho Say Out With Dollar

It seems gold coins may be taking over where the dollar is leaving off.Last month, according to a CBS News Report, "South Carolina Rep. Mike Pitts introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state."

This month Idaho is taking it's shot at the dollar and casting its' vote for another precious metal to replace the dollar in payment of certain debts -- SILVER!

Can you believe this?All of a sudden those predictions of 1 oz. gold coins being worth $2000 and 1 oz. American Silver Eagles being worth more than $50 an ounce, don't seem so far off.

In essence these states are saying you can't keep printing money to pay debt.If you do, the dollar could eventualy be worth zero.Now let's look at the big picture.

Before the dollar started losing favor amongst some of our own states, we saw gold rise 300% or higher in the last 10 years.Now, what do you think would happen if the whole world started to share the sentiments of South Carolina and Idaho?Even I hate to make predictions on how high gold prices could go if that happened.

It's no secret!China and Japan are buying less and less of our debt.That means the only way left to pay our bills is to print money to buy what's left of the bonds we need to sell to make payday every month.In the past I have referred to inflation as a foregone conclusion.Now it looks more like inflation on steroids or HYPERINFLATION!

Also see how quickly Silver enters the picture as a hedge against inflation.Wouldn't it be something if a gold coin or American Silver Eagle Coin were the only thing left that people could use to pay debts public and private?Call the Gold Hot Line and buy some.