Individual US States push for gold and silver legalization
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From the link:
JUNEAU — In the final days of the legislative session, the Alaska House passed a bill that would allow gold and silver to be used as legal tender.
House Bill 3, introduced by Big Lake Republican Rep. Kevin McCabe, would allow business owners to decide if they want to accept the precious metals as currency. The coin or bar would need to be refined and its value would need to be authenticated, meaning gold dust or nuggets could not be used.
www.adn.com
JUNEAU — In the final days of the legislative session, the Alaska House passed a bill that would allow gold and silver to be used as legal tender.
House Bill 3, introduced by Big Lake Republican Rep. Kevin McCabe, would allow business owners to decide if they want to accept the precious metals as currency. The coin or bar would need to be refined and its value would need to be authenticated, meaning gold dust or nuggets could not be used.
Alaska House passes bill to make gold and silver legal tender
At least 12 other states have passed similar legislation, which waives taxes on the sale and exchange of dollars for gold.
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NC House Republicans want state savings held as gold bullion
JUNE 13, 2023 11:30 AMNorth Carolina House Republicans want the state to use some of its savings to buy gold bullion and bury it in Texas.
A group of House Republicans filed a bill in mid-April that would have the state use $2 billion from its savings reserve to buy gold bullion. The bill sat idle in the House Appropriations Committee until Thursday, when it was sent to the Committee on State Government. It’s set for a committee hearing Wednesday.
Rep. Mark Brody, the bill’s lead sponsor, said in an email last week that the value of the gold proposed for purchase will be lowered to $400 million to $500 million in a revised bill. House bill 721 proposes to store North Carolina’s gold in a bullion depository the state of Texas created in 2015. Deposits were stored in Austin until a new facility opened outside the city in 2020.
Read the rest:
NC House Republicans want state savings held as gold bullion | NC Newsline
North Carolina House Republicans want state savings held as gold bullion. A bill would study establishing a state gold depository.
ncnewsline.com
Why would anyone want gold and silver legalized for payments? this is a modern scam for the states to get your PMs. Pay them in shit, stack your gold!
it legitimatizes PMS as a medium of exchange and not just a commodity ...dont have to give the state your pms....also it forces the government to take it for taxes....and also makes it harder for them to confiscate legal tender.....etc........i had some input into missouri's pending law on PMs that includes the requirement for the state to receive PMs at current market rates for payment...also provides a alternative to the coming digital currency
why would you be against the state using sound money as a medium of exchange
fwiw the missouri bill "sb100" passed senate and is pretty much on cruise control (votes are so far not close) thru house so far with some modifications
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States don't need to legitimize anything. Gold and silver is already legitimate money. Only the uninformed would want to or care that a state says "YES, you gold is money". Yeah, no shit. it always has been.
point is ...the state of missouri will be required to if you walk to the pay window ...accept your gold at market value including premiums for tax bills ....also eliminates any form of state taxation on gold n silver .....also requires the state treasury keeps 1% of its funds in gold or silver ........sure beats the previous setup.........i guarantee you when it passes my next tax bill i am going to take a gold coin in for payment and see what happens...worse case is you sell your gold for full price plus premium
whats your state doing???
Probably passing laws about forced support of tran ie story time at churchs and pre schools. Congrats to you for living in one of the free states.
It's challenging here to keep the libs at bay we have two population centers that are very liberal ie Kansas city and Saint louis.......and Spanish speakers are becoming more common every day....my gal met with our new federal congressman Monday to inform him of some issues he was not aware of, many times it's about who's side they hear first before they take positions and developing a communication relationship early in their terms
right on brother.
that is a real good question ......its one of those administrative details that will have to be determined after the law passes.......but the law as it currently is written says state will pay spot plus premiums.......the intent was to get real market pricing not just spot
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In a historic move, the New Jersey Assembly has unanimously voted to eliminate the sales tax on physical gold and silver. Assembly Bill A5294 exempts precious metals purchases over $1,000 from state sales taxes, aligning New Jersey with the majority of states that have already ended this regressive tax.
This achievement is the result of several years of effort from Sound Money Defense League, Money Metals Exchange, and in-state supporters,
www.soundmoneydefense.org
This achievement is the result of several years of effort from Sound Money Defense League, Money Metals Exchange, and in-state supporters,
New Jersey Assembly Votes Unanimously to End Sales Tax on Precious Metals
In a historic move, the New Jersey Assembly has unanimously voted to eliminate the sales tax on physical gold and silver. Assembly Bill A5294 exempts precious metals purchases over $1,000 from state sales taxes, aligning New Jersey with the majority of states that have already ended this...
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Assessing a state sales tax on the purchase of gold and silver is becoming an outmoded, indeed outrageous, practice – but a small number of U.S. states still engage in it.
Several of the remaining seven states that tax all precious metals purchases are presently considering enacting their own exemptions, and just this week Mississippi bureaucrats formally stopped slapping these taxes on citizens.
A culmination of a four-year campaign by Money Metals Exchange and the Sound Money Defense League, Mississippi Governor Tate Reeves signed Senate Bill 2862 in April and, as of July 1, all purchases of gold, silver, platinum, and palladium coins, bars, and rounds are fully exempt from sales tax in the Magnolia State.
www.moneymetals.com
Several of the remaining seven states that tax all precious metals purchases are presently considering enacting their own exemptions, and just this week Mississippi bureaucrats formally stopped slapping these taxes on citizens.
A culmination of a four-year campaign by Money Metals Exchange and the Sound Money Defense League, Mississippi Governor Tate Reeves signed Senate Bill 2862 in April and, as of July 1, all purchases of gold, silver, platinum, and palladium coins, bars, and rounds are fully exempt from sales tax in the Magnolia State.
More States Consider Sales Tax Exemptions for Precious Metals as Mississippi Law Takes Effect
Assessing a state sales tax on the purchase of gold and silver is becoming an outmoded, indeed outrageous, practice – but a small number of U.S. states still engage in it. Several of the remaining seven states that tax all precious metals purchases are presently considering enacting their own...
Seems a lot of these bills have a minimum price that you must purchase to avoid the sales tax. To me this hurts small buyers. I would like them better if they had a maximum price, say no sales tax on purchases under $10k. Or even better no sales tax on any purchase.
In missouri there is no sales tax on bullion....the new proposed law is moving to exempt bullion from state capital gains taxes....I'm not following other states
Where are you seeing this? AFAIK, all the recent bill activity has been removing taxes period (no mins).
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This one is a talking interview. Nothing to see, can listen in one window, play around on the forum in another window. It's 52 minutes long.
Stephen explains the importance of sound money and how it can be achieved through buying and storing gold and silver. He also highlights the legislative victories of the Sound Money Defense League, such as sales tax exemptions for precious metals in several states. Stephen then goes on to explain the difficulty of getting sales tax exemptions passed due to anticipated loss of revenue. He also explains that five states do not have income tax on gold and silver, and that Arkansas and Arizona recently passed laws exempting precious metals from income tax.
Stephen then moves on to discuss Congressman Mooney's bill which requires an audit of the Federal Reserve's gold holdings and prohibits the Fed from doing research or development of a Central Bank Digital Currency. Finally, he discusses the idea of spending gold and silver and making it legal tender, as well as the difficulties in making it a viable option. Stephen acknowledges that people are mainly doing it out of ideological reasons, but suggests that it may gain more traction when it becomes the only payment method someone will accept.
Time Stamp References:
0:00 - Introduction
0:50 - State Tax Reform
5:30 - Sales Tax Exemptions
12:23 - Partisan Politics
15:06 - Threshold States
22:43 - Sales & Use Taxes
25:16 - Taxation Reasons
29:45 - Dollar Re-Peg?
35:33 - Treasury Gold Audits
37:59 - Secrecy & Gold Holdings
39:40 - FedNow Purpose
44:47 - Digital Gold
49:47 - Concluding Thoughts
Talking Points From This Episode
- The legislative successes of the Sound Money Defense League, which has successfully passed sales tax exemptions on precious metals in several states this year.
- Stephen highlights the progress made this year in Kentucky, Maine, Vermont, Wisconsin, and New Jersey.
- Congressman Mooney's bill requiring an audit of the Federal Reserve's gold holdings could help constrain government spending and curb inflation, and his bill prohibiting the Fed from doing research or development of a CBDC.
Palisade Radio Links:
► Website & Newsletter: https://palisadesradio.ca
► Rumble: https://rumble.com/c/c-1586024
► Odysee: https://odysee.com/@PalisadesGoldRadio:c
Guest Links:
Twitter: https://twitter.com/MoneyMetals
Website: https://moneymetals.com
Website: https://www.soundmoneydefense.org/
Stefan Gleason: Is the US Returning to a Gold Standard?
Tom welcomes Stefan Gleason, president of Money Metals Exchange back to the show. They discuss the legalities and intricacies of purchasing and owning precious metals, as well as the taxation issues surrounding them.Stephen explains the importance of sound money and how it can be achieved through buying and storing gold and silver. He also highlights the legislative victories of the Sound Money Defense League, such as sales tax exemptions for precious metals in several states. Stephen then goes on to explain the difficulty of getting sales tax exemptions passed due to anticipated loss of revenue. He also explains that five states do not have income tax on gold and silver, and that Arkansas and Arizona recently passed laws exempting precious metals from income tax.
Stephen then moves on to discuss Congressman Mooney's bill which requires an audit of the Federal Reserve's gold holdings and prohibits the Fed from doing research or development of a Central Bank Digital Currency. Finally, he discusses the idea of spending gold and silver and making it legal tender, as well as the difficulties in making it a viable option. Stephen acknowledges that people are mainly doing it out of ideological reasons, but suggests that it may gain more traction when it becomes the only payment method someone will accept.
Time Stamp References:
0:00 - Introduction
0:50 - State Tax Reform
5:30 - Sales Tax Exemptions
12:23 - Partisan Politics
15:06 - Threshold States
22:43 - Sales & Use Taxes
25:16 - Taxation Reasons
29:45 - Dollar Re-Peg?
35:33 - Treasury Gold Audits
37:59 - Secrecy & Gold Holdings
39:40 - FedNow Purpose
44:47 - Digital Gold
49:47 - Concluding Thoughts
Talking Points From This Episode
- The legislative successes of the Sound Money Defense League, which has successfully passed sales tax exemptions on precious metals in several states this year.
- Stephen highlights the progress made this year in Kentucky, Maine, Vermont, Wisconsin, and New Jersey.
- Congressman Mooney's bill requiring an audit of the Federal Reserve's gold holdings could help constrain government spending and curb inflation, and his bill prohibiting the Fed from doing research or development of a CBDC.
Palisade Radio Links:
► Website & Newsletter: https://palisadesradio.ca
► Rumble: https://rumble.com/c/c-1586024
► Odysee: https://odysee.com/@PalisadesGoldRadio:c
Guest Links:
Twitter: https://twitter.com/MoneyMetals
Website: https://moneymetals.com
Website: https://www.soundmoneydefense.org/
In post #97 of this thread it states that New Jersey just voted to exempt sales tax on purchases over $1000. But I agree the trend seems to be to eliminate sales tax on all purchases.
Good for Missouri. Now if the Feds would eliminate capital gains on P.M. sales we would have something.
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Lawmakers in the North Carolina House of Representatives have voted in favor of studying the benefits of having an in-state bullion depository.
House Bill 721, introduced by Rep. Mark Brody (R – 55), would prompt a study into how North Carolina could establish its own bullion depository to securely store the state’s physical gold, should it choose to make such an investment, was approved by the state House 73-40 in June. The bill first received a favorable report before the House State Government committee.
www.soundmoneydefense.org
House Bill 721, introduced by Rep. Mark Brody (R – 55), would prompt a study into how North Carolina could establish its own bullion depository to securely store the state’s physical gold, should it choose to make such an investment, was approved by the state House 73-40 in June. The bill first received a favorable report before the House State Government committee.
North Carolina House Votes to Study Establishing In-State Bullion Depository
House Bill 721, introduced by Rep. Mark Brody (R – 55), would prompt a study into how North Carolina could establish its own bullion depository to securely store the state’s physical gold, should it choose to make such an investment
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Oregon Governor Signs Bill Ending Unjust Corporate Activity Tax on Precious Metals Dealers and Investors
(Salem, Oregon, USA – July 28, 2023) – With the stroke of her pen, Oregon Gov. Tina Kotek put an end to the state's punitive Corporate Activity Tax as applied to precious metals dealers and, ultimately, to gold and silver investors, effective in 2024.
Supporting the efforts of in-state small business owners, the Sound Money Defense League and Money Metals Exchange mobilized grassroots support and worked in other ways to secure the passage of House Bill 2073, a package of corporate activity tax (CAT) reforms and cleanups which included the exemption of precious metals sales from Oregon's CAT.
Gold and silver businesses operate on extremely small margins—margins that are similar in scale to brokerages, which are already exempt from the CAT. A CAT imposed on topline precious metals sales revenue is therefore extremely burdensome when compared to the taxes paid by other current CAT payers.
Furthermore, these increased costs on precious metals businesses ultimately are passed through to Oregon savers and investors.
Read the rest:
Oregon Governor Signs Bill Ending Unjust Corporate Activity Tax on Precious Metals Dealers and Investors
(Salem, Oregon, USA – July 28, 2023) – With the stroke of her pen, Oregon Gov. Tina Kotek put an end to the state's punitive Corporate Activity Tax as applied to precious metals dealers and, ultimately, to gold and silver investors, effective in 2024.
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Bump.......
What would America look like it we return to the gold standard? Would we return to the stone age, would innovation end as Wall Street bankers and government's paid economists claim?
It's easy to talk about the catastrophes unleashed on humanity by paper money. The permanent inflation, the endless parade of recessions, the exploding debt. The progressive impovertization and the predatory governments who don't care if the people starve or the cities collapse since, after all, the bureaucrats will still feast.
www.soundmoneydefense.org
What would America look like it we return to the gold standard? Would we return to the stone age, would innovation end as Wall Street bankers and government's paid economists claim?
It's easy to talk about the catastrophes unleashed on humanity by paper money. The permanent inflation, the endless parade of recessions, the exploding debt. The progressive impovertization and the predatory governments who don't care if the people starve or the cities collapse since, after all, the bureaucrats will still feast.
What a Gold Standard does to America
What would America look like it we return to the gold standard? Would we return to the stone age, would innovation end as Wall Street bankers and government's paid economists claim? It's easy to talk about the catastrophes unleashed on humanity by paper money. The permanent inflation, the...
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What if America is pulled kicking and screaming futilely into the gold standard because the rest of the world told the Federal Reserve ther ponzi scheme is over?
There will most ricky-tick be chaos. Those who are coddled now will be castoffs then. Militarily, the US will drop to about that of France. <-- FACT to consider about this statement:
David Woolner wrote that in June 1939, which was three months before England declared war on Germany, "the roughly 180,000-man U.S. Army ranked 19th in the world--smaller than Portugal's!"
We will be there again, because our infrastructure will crumble. How do you fill up an 18-wheeler with fuel? If no fuel for the 18-wheeler(s), how can food be distributed?
Last time, we still had a LOT of farm animals to plow and sow and reap. Now we have none.
It will be a perfect time for the Gummint to issue "temporary" electric money with your ID on it. Danger.
There will most ricky-tick be chaos. Those who are coddled now will be castoffs then. Militarily, the US will drop to about that of France. <-- FACT to consider about this statement:
David Woolner wrote that in June 1939, which was three months before England declared war on Germany, "the roughly 180,000-man U.S. Army ranked 19th in the world--smaller than Portugal's!"
We will be there again, because our infrastructure will crumble. How do you fill up an 18-wheeler with fuel? If no fuel for the 18-wheeler(s), how can food be distributed?
Last time, we still had a LOT of farm animals to plow and sow and reap. Now we have none.
It will be a perfect time for the Gummint to issue "temporary" electric money with your ID on it. Danger.
Cigarlover
Yellow Jacket
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My own opinion which is worth exactly what you paid for it is that the rest of the world can not go to a gold standard. Partially perhaps but not full on we send you goods and in return you send us your gold. Not going to happen. It cant happen for reasons I have stated previously. Mainly that the ME and China would end up with all the gold and eventually there would be nothing left for anyone else. Also the reason why all the talk of gold backed currencies is just talk. You cant back a currency with anything unless that currency is convertible into the asset for which you are backing it. Why would I accept any "backed" currency if I cant redeem it for something of real value.? And if a currency is truly backed by something then why bother with the currency? Just give me the asset. If it's gold at 2k an oz it's not like I will be walking around with 100 lbs of gold on my person at any time.
It doesn't really matter in the end if the people dont wake up to the fact that no government should have unlimited access to borrow.
What we could do is have a dual system in the US (Which technically we already have) Use paper currency for international trade and use gold and silver as money in country with 0 ability to take that outside of the US.
It doesn't really matter in the end if the people dont wake up to the fact that no government should have unlimited access to borrow.
What we could do is have a dual system in the US (Which technically we already have) Use paper currency for international trade and use gold and silver as money in country with 0 ability to take that outside of the US.
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CG -- We agree 95% of the time. But this time I gotta point out how you are not thinking it through.
WHEN gold becomes the standard, gold can be printed on paper or its equivalent. To any value whatsoever.
A "dollar" bill <-- I will start with the smallest type of printed money... can have the paper saturated with a dollar's worth of gold mixed INTO the paper. It can be recovered if desired.
Increase the amount of gold in the paper to the value desired. You now have folding money in denominations from a dollar to a hundred dollars.
Unlike today's crippling difficulty of using fiat dollars (eg: skids of C-notes for the arabs) because you are limited worldwide as you read this to only hundred dollar bills... there now could be saturated paper money each with a thousand dollars worth of gold in it... or ten thousand dollars worth. Varied sizes.
You mustn't think in terms of our horribly debased-to-nothing fiat dollar. A "dollar" right now in a Goldback would be an infinitesimal (but assayable) tiny fraction of the insane, unreal fiat-to-gold current bullshit numbers you are used to.
There are about 28 US states so far that are making gold the basic unit of currency today. The value of gold for all of history has been unbelievably stable.
So if the total amount of (in-hand) gold extant on the planet is reasonably estimated/computed (not a difficult thing to do, given the drive to do it) -- that defines the Gold Standard. The gold you have in your hand will have a known, stable-for-millennia value. It may be something like a million dollars an ounce in today's hollow-fake Monopoly money.
Inflation would be impossible. You cannot print gold... well, you can, but then you have Goldbacks.
The known, published, monitored amount of world-supply gold would define the purchasing value of your Goldbacks, since your Goldbacks are part of the entire world supply.
So there would be trade -- at even rates all over the world -- using gold. For anything.
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More:
Missouri Bill Would Treat Gold and Silver as Legal Tender | Tenth Amendment Center
The legislation would take steps to treat gold and silver as money in Missouri and encourage its use as such, including making it legal tender and eliminating the state capital gains tax on the sale gold and silver.
blog.tenthamendmentcenter.com
Viking
Yellow Jacket
now they need to get rid of the state income tax.
More:
2024 Sound Money Index Highlights Problematic States, Positive Reforms
With inflation, debt, and financial instability continuing to make headlines, a new national scorecard exposes Vermont, New Jersey, Maine, and Minnesota as America’s absolute worst states for sound money... ...while Wyoming, South Dakota, Alaska, and New Hampshire came out on top in the rankings.
www.moneymetals.com
Florida Bills Would Treat Gold and Silver as Money | Tenth Amendment Center
Bills filed in the Florida House and Senate would take several steps to increase currency competition with sound money in Florida, and set the stage for the people there to undermine the Federal Reserve’s monopoly on money.
blog.tenthamendmentcenter.com
For @Ttazzman :
www.yahoo.com
GOP candidate for MO governor wants to abolish education department, make gold legal tender
The Republican state senator’s campaign for governor builds upon a message that state government is broken and Jefferson City needs a “reckoning.”
The conservative grassroots movements in this state are real ...so far every election we are moving to more truly conservative minded lawmakers, and more ideas while they may not pass are slowly gaining traction and support, many of these ideas can not pass currently but are getting some sunlight.....thx for the article I had not seen thatFor @Ttazzman :
GOP candidate for MO governor wants to abolish education department, make gold legal tender
The Republican state senator’s campaign for governor builds upon a message that state government is broken and Jefferson City needs a “reckoning.”
Oklahoma Bill Would Take Steps to Treat Gold and Silver Like Money | Tenth Amendment Center
In 2014, Oklahoma took the first step and declared Gold and silver coins issued by the United States government are legal tender in the State of Oklahoma. That bill also expanded the sales tax exemption on gold and silver. SB1507 would improve and clarify the definition of specie legal tender.
blog.tenthamendmentcenter.com
Related to post #110 above:
blog.tenthamendmentcenter.com
Missouri Bills Would Treat Gold and Silver as Legal Tender | Tenth Amendment Center
The legislation would take steps to treat gold and silver as money in Missouri and encourage its use as such, including making it legal tender and eliminating the state capital gains tax on the sale gold and silver.
blog.tenthamendmentcenter.com
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Interview: The 2024 Sound Money Index and Legislative Progress
Mike Maherrey and JP Cortez discuss some of the accomplishments that were made by the Sound Money Defense League in 2023, and what they foresee in 2024.
goldseek.com
New Jersey? Is hell freezing over?
blog.tenthamendmentcenter.com
It still has a long ways to go to actually become law and it's future is not certain, but I didn't expect a bill like this would even merit consideration in that state.
New Jersey Senate Committee Passes Bill that Takes Step Toward Treating Gold and Silver as Money | Tenth Amendment Center
The legislation would exempt the sale of investment metal bullion and investment coins from the state sales and use tax.
blog.tenthamendmentcenter.com
It still has a long ways to go to actually become law and it's future is not certain, but I didn't expect a bill like this would even merit consideration in that state.
