Arizona passes law making gold and silver legal tender

States are now rushing to push bills through allowing for gold and silver to be recognized as legal tender as politicians fear that the U.S. economy is going to collapse.

The push from states like Arizona, which passed through their House of Representatives on Monday allowing gold and silver to be considered legal tender, comes as conservatives fear that the Federal Reserve is running the country's economy into a deep hole.

Lawmakers say the global economy is on the precipice of financial ruin and the U.S. dollar could soon be worth less than the paper used to make it.