Tuesday, May 17, 2011

The Gold Rush: Conservative Economists and States Push for Gold Standard

ABC News

PHOTO: In a move indicative of the growing concern over rising inflation and the weak economy, South Carolina became the newest state to propose a bill that would make gold and silver coins a form of legal tender in the state.
In a move indicative of the growing concern over rising inflation and the weak economy, South Carolina became the newest state to propose a bill that would make gold and silver coins a form of legal tender in the state. (Gazimal/Getty Images)

In a move that reflects growing anxiety over rising inflation and a weak economy, South Carolina became the newest state to propose a bill that would make gold and silver coins a form of legal tender in the state.

Utah started the trend, becoming the first state on May 9 to recognize gold and silver coins minted by the U.S. government as legal tender. More than a dozen other states are considering similar moves.

Gold is increasingly taking the spotlight as worries about inflation and a debt crisis grow...[Full Article]