States Racing To Make Paying With Gold Easy
As recently reported in the Epoch Times, a tidal wave of interest in passing “transactional gold” legislation is flooding across America. More and more law makers are recognizing the inevitable- that state governments must act to protect their citizens from the devastating effects of inflation. As an employee of the first state to pass such legislation, Utah Treasurer Marlo Oaks said:
Creating opportunities for all Utahns to protect their purchasing power is a critical outcome we hope to achieve…This is an economic justice issue.”
Last year, as inflation was devastating households across America, leaders in Utah created a task force of leading financial experts whose assignment was to determine if spending precious metals into the Utah economy could protect its citizens and generate economic growth. Taking recommendations from the task force, lawmakers in the state House of Representatives unanimously passed a major transactional gold bill in March. The Senate then overwhelmingly approved the legislation.
HB 306: Enabling Precious Metals-backed Electronic Payments
HB 306 paves the way for electronic payments backed by precious metals.