Push for Gold Standard

As individual investors continue to rush into gold...now even the individual states are talking about using gold as currency.  This is being driven by the understanding that the Federal government is shirking its monetary responsibility and the increasing concern that many may lose confidence in our paper money system...which is called "fiat currency".

I ran across this article from ABC News yesterday.

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 recognizegold and silver coins minted by the U.S. government as legal tender. More than a dozen other states are considering similar moves.


"A return to the gold standard by the United States within the next five years now seems likely, because that move would help the nation solve a variety of economic, fiscal, and monetary ills," Forbes said in a recent interview with conservative web site Human Events. "What seems astonishing today could become conventional wisdom in a short period of time."


Gold is increasingly coming into the limelight because of fears about inflation ballooning to unsustainable levels and the lack of confidence in the Federal Reserve, a position pushed by high-profile lawmakers such as presidential candidate Rep. Ron Paul, R-Texas, considered by many to be the father of the Tea Party movement. Some argue that reverting to a gold standard would restrain spending and keep the central bank's power in check.


See it here; http://abcnews.go.com/Politics/gold-standard-making-comeback-conservative-economists-states-push/story?id=13614584


Did you catch that key phrase, "lack of confidence"?  Remember that our entire paper money system rests on the "full faith and confidence" in the U.S. government.  If the confidence vanishes....so will the value of our paper which we all hold so dear.


Of course as we have said many times before, it should not surprise us that the world is rushing into gold in these last days.  The prophet Zephaniah had a clear vision of this event 2600 years ago;


"Neither their silver nor their gold will be able to save them on the day of the Lord's wrath.  In the fire of his jealousy the whole world will be consumed, for he will make a sudden end of all who live on the earth."  Zephaniah 1:18


Of course this event will happen at the end of The Tribulation.  So this is just one more event that we can see happening today which is foreshadowing things that are to come.


Have faith in God...and God alone.  Only our faith in Him will save us from the coming wrath.