State governments in recent years have seen a decline in the dollar's decades of accelerated purchasing power, and state governments across the United States are moving swiftly, giving citizens constitutional options, both saving and commercial. The idea, known as “transaction gold,” is to create a system that allows state governments to easily acquire, store, use, store and revert to the dollars they spend. Several states have already approved invoices to do so, and are even more anticipated.
Under the system, you are contracting or stating a contract with a depository institution to store and manage precious metals. Texas was seen as a challenge to the Federal Reserve's mismanagement of US currency, creating its own bullion deposit 10 years ago. The “transaction” component occurs when citizens can obtain mobile app or debit card style cards, allowing them to use valuable metals anytime, anywhere. Merchants may choose to be paid in dollars or metals.
Arkansas is the first to go
The first states to be officially signed into law were signed to create a gold system of transactions. On April 17, Gov. Sarah Huckabee Sanders granted her signature on the House Bill of 1918, gold and silver as a statutory bid for electronic payments. It declared metals to be fiat currency under the 2023 law, and passed with strong bipartisan support. Supporters said it was consistent with the constitution, which prohibits the state from making anything other than gold or silver fiat currency.
“This law is a game-changer for Arkansan,” Arkansas representative Mindy McAllingdon said in a statement. “Our 2023 law was an important first step, but gold and silver were not easy to use for the average person. Now we've created a free market option by linking gold and silver to debit cards with a secure vault system.
Senator Jim Dotson, who sponsored and carried the bill in the Senate, also highlighted the benefits of the program. “This law makes gold and silver available to anyone,” he said. “By making access to gold and silver easier, citizens can start with just 10 cents worth of gold, save solidly and safely, and use it when needed. It's the funds and currency for rainy days, giving Arkansan more control over their financial future.”
Florida is bright and bright
Another major state moving forward with Transaction Gold is Florida. As reported by New American on May 1, Florida lawmakers voted unanimously to approve HB 999 under the leadership of Republican Representative Doug Bankson. “What a wonderful thing that our nation's ancestors had the foresight to make state gold and silver used as fiat currencies in the constitution,” Bankson said during the Epoch era as part of a detailed research article on the gold efforts of the trade.
The Florida bill, which tells Gov. Ron DeSantis to Andrew Muller of New American Magazine at a press conference that he will sign, has established that custodians will establish regulations for dealing with transactions that contain precious metals. Now, once the law comes into effect, gold and silver can be officially used as money. As Florida is a major economic powerhouse, analysts hope that the bill will encourage other GOP-controlled states to move in the same direction.
Texas Deposit Lead
Texas has its state bullion depository institutions and is already ahead of most states by bringing gold and silver back into commerce. The law that uses state agencies as part of the transaction money system is moving quickly through Congress with strong, bipartisan support. HB 1056 passed the House of Representatives on May 2nd and is now being considered by the Senate. It has very strong grassroots support, but more than three out of four Republicans voted in favor of the deal money, and Democrats are also supporting it.
“Through the past six,000 years of history, gold and silver have maintained their value and maintained their standards,” said a representative from Mark Dorazio, the leading Republican sponsor of the House bill. “It's the challenge of economic crisis and instability. Everyone knows you're going for money… Anyone I'm talking to like the idea of ​​doing business using our depository. Plus, it's going to make money for the nation.
Utah Gold
Utah, a major gold producer, was the first state to acquire a gold bill for trades from Congress. Following recommendations from state working groups that looked into the issue, lawmakers voted overwhelmingly to approve the bill. There was strong support from Marlo Oaks, the treasurer of Utah. He told New American last year that it is important for the nation to see money for stability and protection.
Rep. Ken Ivory, a powerful leader in Utah politics, helped shepherd the bill through Congress. In a comment to the author, he explained that when President Richard Nixon cut off the final link between the US dollar and gold, he could buy the average Salt Lake City home for under $20,000. The average home in the city today exceeds $550,000, which is about 160 ounces of gold.
Utah Gov. Spencer Cox, widely viewed by liberals as a moderate Republican, rejecting and arguing that it would be “unrealistic” to implement the deal money bill, which is overwhelmingly popular in his state. He did not provide details. It remains unclear whether lawmakers can override his veto. However, legislative leaders told New American that they are planning to seek an override and hope that they will succeed.
Private Sector
Despite Governor Cox's claim that the system is “unrealistic”, there are already private companies such as UK-based Shine that already provide such a system. It is used daily by people across the United States to use gold to purchase groceries and other essentials. Company leaders have supported the efforts of the nation despite the wider competition potential.
Other private initiatives have also gained traction, such as the company known as “Goldback.” Goldback is a bill that contains a certain amount of gold bullion that can be used with participating merchants. First released in Utah in 2019, the memo is currently being used in voluntary transactions in numerous states, and has been accepted by thousands of companies as payments.
Other states are moving forward
In at least 20 states considering legislation to create a transactional gold system, landscapes are changing rapidly and evolving. Related proposals are also growing in the state as they remove taxes on precious metals from invoices, declare them to law in legal currency, and require that state reserve funds be allocated in part to precious metals. However, analysts look forward to more moves in Transaction Gold this year as well.
For example, Oklahoma lawmakers passed laws to establish state depository for gold and silver, allowing citizens to use precious metals in financial transactions. House Bill 1197, defended by Senator David Bullard, allows state accounts to create local transaction depository bodies. The goal is to provide Oklahomans with alternatives to Fiat currency while promoting financial sovereignty, supporters of the proposal say.
Other states that consider similar laws include Alabama, Arizona, Georgia, Idaho, Kansas, Louisiana, Missouri, Montana, New Hampshire, North Carolina, Ohio and South Dakota. The Louisiana bill creates a 100% gold and silver-backed trading currency, allowing citizens to use gold and silver in their daily transactions. More is expected in the coming months and years.
Pirate money
The man behind the movement for Transaction Gold is Kevin Freeman, an economic war expert, discovering hidden plans for Pirate Money: Founders' Hidden Plan for Economic Sustive, beating the host of the massive reset and economic war room on Blaze TV. Trusted by lawmakers across the country as the inspiration behind the move towards money, Freeman argues that the founder provided these tools to Americans very intentionally and strategically. And he said that only a return to precious metals could protect the US economy, the middle class and individual freedoms.
Speaking to New American, Freeman celebrated all the actions taking place at the Capitol buildings around the country this year. He also explained that the issue transcends political parties and joins the bandwagon when seeing how many Democrats can help protect poor and middle-class Americans from inflation and the destruction of currency creation. “The state should exercise the authorities granted under the constitution, even when it comes to money,” he said.
future
With gold prices consistently reaching new record highs, interest in precious metals is not limited to central banks. While monetary authorities have actually purchased large quantities in recent years, retail demand has also increased as the purchasing power of Federal Reserve notes continues to decline. Using metals as a hedge against inflation is one of the reasons experts say it's so appealing right now.
But the revival of gold and silver as fiat currencies is more than economics. It reflects a growth movement between states and citizens to regain financial sovereignty and create a constitutionally supported, stable alternative. As inflation continues to erode the value of the US dollar, these legislative efforts demonstrate a new passion for sound money principles and protecting individual economic freedoms.
Perhaps the only biggest obstacle to adopting gold and silver more widely as money is the possibility that you will have to pay capital gains tax on the fictitious profits of precious metals. These profits arise not from the increase in the value of gold and silver, but from the erosion of the value of the dollar caused by the creation of central bank currency and the creation of uncontrolled government spending. But Freeman and others believe that Trump's White House (which actively promotes gold, the first president of decades) has a real chance of solving the problem.
With dozens of bills already in place across the country and dozens of bills expected in the coming months and years, citizens have a real opportunity to advance healthy money in America. Lawmakers on either side of the aisle show extensive support. Escalating financial and financial disruptions, citizens and policymakers everywhere are looking for answers. So, if Americans are involved, there is a historic opportunity to restore healthy money.
