Originally published at Notes from the bunker…. You can comment here or there.

This legislation provides for the State Treasurer to accept an Idaho manufactured silver medallion and bar for the payment of fees and taxes. First the State Treasurer will sell these silver medallions and bars to the public at their market value tied to the daily market price of the U.S. Mint’s one troy, bullion style, silver American Eagle. This silver American Eagle will also be accepted by the Treasurer for the payment of fees and taxes. The medallion and bars will be designed by the medallion committee of legislators already referenced in Idaho Code at 671223(3). The initial funds to begin this program may come from presales of medallions and bars, from grants or from the General Fund.

I’m slightly ashamed that Montana didnt come up with this first but Idaho has always been a little more..uhm…’intolerant’…of .gov shenanigans than Montana.
(more linky)

The notion here is that if we get outrageous inflation and the currency devalues, turning the twenty grand you have in the bank into toilet paper, you can still protect your home from the tax man by paying in silver which will have, most likely, appreciated to the point where you can use it to save the farm from the clutches of the property tax enforcers. (some linky)

Nice theory, although I think that if things devolved into the currency being so worthless that you need to pay your taxes in silver (or gold) things have also probably hit a point where its bad enough little details like property taxes are going to be a back-burner issue.

If Idaho passes this thing and starts cranking out their own SpudBucks I will definitely be buying a bunch. Last buncha guys that tried stamping a silver ‘trade unit’ got their nuts in the wringer from the Feds. But, there is certainly legal precedent for states issuing their own currency so perhaps this’ll work just fine. In my opinion if Fred The Grocer will take 1 oz. of silver instead of a twenty dollar bill for my groceries then who has a problem with that? (Well, yeah, the IRS but is anyone shedding tears for them? Didnt think so.)