States Legalizing Gold and Silver Currency
The return to honest money can’t be stopped!
It only stands to reason that we would spend more time than others tracking movements in the return to an honest precious metals-based currency system. It’s our job!
We want our friends and clients to profit from this epochal change in monetary dynamics. Today there is more evidence that the movement is taking place even on the state level.
By now most of our readers are familiar with the stampede of the world’s central banks to shore up their reserves with gold – generally at the expense of their former US dollar holdings. Dramatic evidence of this global gold rush is the world central banks’ purchase of a thousand tons of gold every year for the last three years.
That’s on the international level. A similar movement is taking place at the grassroots level. Individual US states are joining in on the move to precious metals, taking steps to regularize people’s use gold and silver in everyday commerce. It is not a moment too soon we believe, as the value of the government’s fiat currency is due to suffer serious blows sooner rather than later.
Several states now statutorily recognize gold and silver as legal tender or are in the process of doing so. Others are lining up to join them in order to protect their people from the effects of Washington’s inflation. It is a movement that has solid Constitutional grounding:
Article 1, Section 10: “No State shall… make any Thing but gold and silver Coin a Tender in Payment of Debts.”
Count on resistance from Washington by means of banking regulations, tax codes, and other legal challenges. Afterall, inflation only works when the people are forced to use the depreciation currency. Nobody will much care how much “money” the Federal Reserve prints if no one used their failing, dishonest currency.
Today eleven states have taken steps empowering their citizens to rely more easily on the wealth preserving capacity of precious metals.
In Arizona, with the passage of House Bill 2014, which was signed into law and took effect in August 2017, US government issued gold and silver coins were formally recognized as legal tender and accordingly can be used as a medium of exchange for debts, public charges, taxes, and dues. For private businesses their use is voluntary and can be specified in contract if the parties wish. The law further provides that as money, rather than merely commodities, they are not subject to state capital gains taxes on income derived from their exchange.
In April, Florida joined the honest money movement, while Missouri followed in May, both with a law similar to that of Arizona, recognizing gold and silver coins as legal tender for the payment of debts and removing taxes on their exchange.
Other states are lining up to join the movement away from depreciating fiat money. Beat the rush! Benefit from this mega-trend by owning gold and silver now!