House Votes Down Gold And Silver Legislation
The Montana house has voted down legislation requiring the State to back some of its transactions in gold and silver. Many in the tea party movement believe getting away from the Federal Reserve and having currency backed by precious metals is one way to fix the growing national debt. Democrats oppose the bill in large part because of the burden it would put on state employees and departments. Supporters, including Representative James Knox, say using gold and silver would help create a stable financial system.