As more and more governments reduce the costs and barriers to buying gold and silver, more and more people will realize the dangers associated with total dependence on a monetary system based on debt and paper dollars. Are we witnessing a modern attempt to return to the gold standard? Call 1-844-307-1589 for a one-on-one consultation with an experienced account manager who can help you explore your options and see how precious metals can work for you. Concerns about inflation and a weakening U.S. dollar are prompting more than a dozen countries to recognize gold and silver coins as legal tender. If Texas made such a move, it would provide government support for deposits and make it easier to buy and store gold, said Jim Rickards, senior managing director of Tangent Capital Partners LLC in New York and author of “Currency Wars: The Making of the Next Global Crisis.” He said that although coin measurements are not practical, they have symbolic value. Several states have now passed laws abolishing these taxes. If all 50 U.S. states started using gold and silver instead of Federal Reserve notes, the federal government would no longer be able to control the state`s money. Arizona vetoed two bills to declare gold and silver coins legal tender. S.B.1439 was defeated in 2013, and in 2015, Governor Doug Ducey vetoed a similar bill. HB2014 strengthens residents` ability to use precious metals and move away from paper money, paving the way for gold and silver as money.
The measures “give people the opportunity to use money that doesn`t lose purchasing power because of inflation,” said Rich Danker, director of economics at the American Principles Project. The Washington-based Public Policy Group supports the moves, as well as a return to the gold standard, which tied the value of the dollar to gold bullion. President Richard Nixon officially ended the convertibility of U.S. currency into the precious metal in 1971. Texas appears to be an advocate of sound currency laws, with several laws already passed and others in the works. With effect from 1 October 2013, HB78 abolished VAT on the purchase of gold, silver and platinum bars and numismatic coins. In 2015, Texas Governor Greg Abbott signed HB483 approving the creation and management of a state gold deposit. Two years later, he announced that Lone Star Tangible Assets would be the private seller responsible for building and operating the Texas Bullion Depository. The Idaho House of Representatives passed HB206 and is now awaiting Senate and Governor approval starting March 15, 2017.
If passed, HB206 will pave the way for Idaho residents to use gold and silver as an additional way to protect their economies from the potential devaluation of the U.S. dollar. To date, 42 states have eliminated some or all taxes on the purchase of gold and silver. And five of the remaining eight states now have new bills pending, namely Tennessee, Mississippi, Kentucky, Hawaii and New Jersey. In 2019, the Sound Money Defense League partnered with strong silver advocates in West Virginia to eliminate the sales tax on precious metals. Several states have since passed similar laws. Arizona`s HB2014 strengthens residents` ability to use precious metals to diversify away from paper money, paves the way for the use of gold and silver as money, and essentially recognizes that precious metals can act as a hedge against inflation. The American Eagle Gold coin is recognized by financial markets around the world. It is an international trade standard and remains one of the most popular gold coins ever minted. As easy as it is to buy and sell, American Eagle Gold is known for selling.
Call 1-844-307-1589 to get yours today. “People point the finger at Utah and say we`re leading the way, but not much has happened because regulatory hurdles are getting in the way,” said Ellis, a Republican. If gold and silver are used as legal tender in the state, it`s probably only in transactions between individuals, he said. Ultimately, individual states alone cannot make the U.S. monetary system sound. At the root of the problem are the Federal Reserve, the U.S. Treasury and Congress, which have fully embraced fiat money and abandoned monetary restriction. Arizona`s new law goes into effect on August 9, 2017, and residents detain from the United States.
