Tag Archives: 6a.) Gold Standard

(Montpelier, Vermont) – On the heels of overwhelming votes to remove all taxes from purchases of precious metals in Mississippi, legislators in Vermont have introduced a measure to curtail the controversial tax in their own state. Introduced yesterday by Rep. Peterson, Demar, Highly, and Smith, House Bill 295 would cancel sales taxes on larger-sized purchases of “rare coins of numismatic value, gold or silver bullion or coins, or gold or silver tender of any nation...

According to Federal Reserve chairman Jerome Powell, disinflation is now taking hold. Yes, the very same person who had to walk back his ridiculous pronouncements in 2021 and 2022 that inflation was “transitory” now wants us to believe that inflation is in the process of steadily declining. Powell delivered a quarter-point rate hike on Wednesday. He also delivered remarks widely interpreted by markets as dovish. He suggested the Fed was close to declaring victory...

Cheyenne, Wyoming, USA (February 2nd, 2023) – The Wyoming State Senate today voted 16-15, on a bipartisan basis, to pass a bill prompting the Wyoming state treasurer to hold gold and silver “specie” to protect the state – as well as establish a process to receive certain tax payments in specie. Introduced by Senator Bob Ide (R-Casper), SF 101 amends and further implements the Wyoming Legal Tender Act, a popular 2018 law that had removed all tax liability from gold...

Madison, Wisconsin – (February 4th, 2023) – A large bipartisan contingent of Wisconsin legislators seek to end Wisconsin’s controversial practice of levying sales tax on purchases of gold and silver. Senate Bill 33, primarily sponsored by Sen. Duey Strobel (R – Saukville) and Sen. Rachael Cabral-Guevara (R – Appleton), and cosponsored by Rep. Shae Sortwell, enjoys wide support – and would align Wisconsin with the policies of 42 other U.S. states. Senate Bill 33...

In 2022, central banks will have purchased the largest amount of gold in recent history. According to the World Gold Council, central bank purchases of gold have reached a level not seen since 1967. The world’s central banks bought 673 metric tons in one month, and in the third quarter, the figure reached 400 metric tons. This is interesting because the flow from central banks since 2020 had been eminently net sales. Why are global central banks adding gold to their...

(St. Paul, Minnesota, USA – January 16th, 2023) – Legislators in the Twin Cities seek to fully exempt gold and silver from Minnesota’s state sales tax. House Rep. B. Olson and Sen. Draheim have introduced HF 106 and SF 373, respectively. These two measures would include coins to Minnesota’s current sales tax exemption, which only exempts bars and rounds. Under current law, Minnesota citizens are discouraged from insuring their savings in precious metals coins against...

(Charleston, West Virginia, USA – January 11th, 2023) – Another pro-sound money legislative effort has been introduced in West Virginia. Del. Chris Pritt has introduced House Bill 2333, the “Legal Tender Act.” This measure would establish gold and silver as legal tender in West Virginia, as well as create a nonrefundable tax credit for the use gold and silver in West Virginia on state taxes. Arizona, Utah, and Wyoming have enacted similar measures into law. Idaho has...

(Jefferson City, Missouri, USA — December 14, 2022) – A state senator from St. Charles County has introduced a bill in Missouri to eliminate income taxes on sales of gold and silver, invest state funds in gold and silver, and establish the Missouri Bullion Depository. Sen. Bill Eigel introduced Senate Bill 100 creates new provisions related to gold and silver in the Show Me State. First, SB 100 would require the State Treasurer to invest no less than 1% of the funds...

Sound money, in the form of physical gold and silver, look to be ending the year on a bullish footing. Meanwhile, things are looking positive on the sound money public policy front as well, thanks to some big wins at the state level in 2022 combined with renewed enthusiasm among our legislative allies as we head into the 2023 legislative season. Looking back on 2022, one reality has emerged: Sound money is clearly a winning issue at the state level. At a time of...

6 Outstanding Students Earn Almost $10,000 in Tuition Assistance Eagle, Idaho (December 6, 2022) – Six outstanding students beat out almost 100 of their high-school and college peers in making the best case for sound money through an international, gold-backed scholarship competition… …and the winners walked away with a total of $9,500 in scholarship awards for their exceptional, thought-provoking essays. For the sixth-straight year, Money Metals Exchange, the U.S....