Returning to Gold Standards?
CNBC’s Larry Kudlow talks with Utah Rep. Brad Galvez on whether bringing gold and silver coins back as legal tender would strengthen the Dollar. Legislation is presently being discussed in Utah, Colorado, Montana, Washington, Iowa, Oklahoma, Missouri, New Hampshire, Indiana, Virginia, Tennessee, South Carolina and Georgia.
Under the proposals, Gold and Silver coin, minted by the US would be recognized as legal tender, the appreciation of which would be exempt from Capital gains, and whose value would fluctuate with the spot price of gold and silver respectively.
Such a move could dramatically alter the financial landscape in the Us and materially impact the value of the US dollar.
Airtime: Fri. Mar. 4 2011 | 7:22 PM ET