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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 currencyWhy 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
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.
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.whats your state doing???
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 termsProbably 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.
right on brother.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
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 spotTazz, how will they determine premiums?
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 statesSeems 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.
Where are you seeing this? AFAIK, all the recent bill activity has been removing taxes period (no mins).Seems a lot of these bills have a minimum price ...
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.Where are you seeing this? AFAIK, all the recent bill activity has been removing taxes period (no mins).
Good for Missouri. Now if the Feds would eliminate capital gains on P.M. sales we would have something.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
CG -- We agree 95% of the time. But this time I gotta point out how you are not thinking it through.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.
A bill filed in the Missouri Senate would take important steps toward treating gold and silver as money, and set the stage for the people there to undermine the Federal Reserve’s monopoly on money.
Sen. William Eigel filed Senate Bill 735 (SB735) on Dec. 1. Rep Bill Hardwick and Rep Michael Davis are expected file two identical companion bills in the House. 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.
The proposed law also includes provisions authorizing the state to invest in gold or silver “greater than or equal to one percent of all state funds” and to expressly bar any state agency, department, or political subdivision from seizing gold or silver bullion.
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... 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.
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Notable changes on the 2024 Sound Money Index since last year include Arkansas’s meteoric ascent from 30th to 5th place as well as Mississippi’s leap from 43rd to 16th place.
Building on momentum from 2021’s precious metals sales tax repeal, Arkansas Gov. Hutchinson signed a sound money bill to end all income tax liability on the monetary metals, while also reaffirming gold and silver as legal tender and prescribing that state courts should require specific performance when enforcing contracts denominated in gold and silver.
After a multi-year legislative effort, Mississippi lawmakers canceled all sales taxes on precious metals. The Magnolia State became the 43rd state in the country to remove taxes on purchases of gold and silver.
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Rep. Doug Bankson and Rep. Chip LaMarca filed House Bill 697 (H697) on Dex. 4. Sen. Ana Rodriguez filed a companion, Senate Bill 750 (S750), on Dec. 6. The legislation would treat “specie legal tender” as money in the state.
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The legislation would also facilitate online and other forms of electronic payments by gold and silver. Electronic currency is defined as “a representation of actual gold and silver, specie, and bullion held in a depository account, which may be transferred by electronic instruction.”
Practically speaking, these provisions would allow Floridians to use gold or silver in both physical and electronic form as money rather than just as mere investment vehicles. In effect, it would put gold and silver on the same footing as Federal Reserve notes.
Passage into law would make Florida the fifth state to recognize gold and silver as legal tender. Utah led the way, reestablishing constitutional money in 2011. Wyoming, Oklahoma, and Arkansas have since joined.
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If Missouri Republican state Sen. Bill Eigel had it his way, Missourians would be able to pay their taxes and potentially shop for groceries with gold and silver.
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Eigel, first elected in 2016 from Weldon Spring, has filed a slew of bills to address these issues ahead of the legislative session and as he mounts a campaign for governor in 2024.
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... While he has successfully pushed some bills that later became law such as 2018 legislation to reduce income taxes, his stated goal has been to limit government as much as possible.
“I don’t know that we’re looking for necessarily more legislation and more government to be passed in this state,” Eigel said. “In fact, we’ve got too much government.”
One of the more unusual bills that Eigel has filed for the upcoming year would make gold and silver legal tender in Missouri, requiring state government entities to accept gold and silver as forms of payment for taxes and public debts.
While the measure would not require businesses to accept gold and silver as payment for private uses, such as groceries, it would allow them to do so.
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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.”www.yahoo.com
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The 2014 legal tender bill expanded the sales tax exemption on the sale of gold and silver bullion. SB1507 would take another step by effectively repealing the state capital gains tax on the exchange of gold and silver. In other words, individuals selling gold or silver bullion, or utilizing gold and silver in a transaction, would no longer be subject to state income taxes on the exchange.
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Rep Doug Richey filed House Bill 1867 (HB1867) on Dec. 11. Rep. Bill Hardwick filed House Bill 1955 (HB1955) on Dec. 15. The bills are companions to Senate Bill 735 (SB735) filed by Sen. William Eigel earlier this month.
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Last week, a New Jersey Senate committee passed a bill that would exempt gold and silver bullion coins from state sales and use taxes. Enactment of this legislation would not only relieve some of the tax burdens on investors, but it would also eliminate one barrier to using gold and silver in everyday transactions, a foundational step for people to undermine the Federal Reserve’s monopoly on money.
Rep. Louis Greenwald introduced Assembly Bill 5294 (A5294) on Mar. 16. The legislation would exempt the sale of investment metal bullion and investment coins from the state sales and use tax.
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