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Old 05-22-2019, 06:06 PM   #41
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On Thursday, May 16, 2019, Kansas governor Laura Kelly signed into law House Bill 2140, which provides a sales-tax exemption on sales of gold and silver coins and on all gold, silver, platinum, and palladium bullion.
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https://www.ictaonline.org/index.php...ews&Itemid=128
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Old 02-12-2020, 05:09 PM   #42
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Wyoming Bill Would Establish Bullion Depository; Help Facilitate Transactions in Gold and Silver

"CHEYENNE, Wyo. (Feb. 12, 2020) – A bill introduced in the Wyoming House would establish a precious metals bullion depository in the state. It would not only create a safe place to store precious metals; it would also facilitate the everyday use of gold and silver in financial transactions in Wyoming and set the stage to undermine the Federal Reserve’s monopoly on money.

A coalition of nine Republicans introduced House Bill 198 (HB198) on Feb. 11. The legislation would create the Wyoming Bullion Depository.

“The depository is established to serve as the repository for and to safeguard and administer bullion and specie that may be transferred to or otherwise acquired by the state or an agency, political subdivision or another instrumentality of the state.”

Use of the Wyoming depository would not be limited to state agencies. Individuals, businesses, charities and banks could also store precious metals in the facility.

Significantly, the depository would feature a process to transfer gold or silver in depositor’s account to other account holders, individuals or businesses by check or electronic means. In practice, private individuals and entities would be able to purchase goods and services, using assets in the vault the same way they use cash today. It would essentially set the stage to establish a specie- and bullion-based bank introducing currency competition with Federal Reserve notes.

In 2018, Wyoming set the foundation for using gold and silver in everyday transactions when it enacted a law that defines gold and silver specie as legal tender and eliminated all taxes levied on it.

In 2015, Gov. Greg Abbot signed a similar bill into law creating a state gold bullion and precious metal depository in Texas. That depository received its first deposits in the summer of 2018.

The effect has been most dramatic in Utah where United Precious Metals Association (UMPA) was established after the passage of the Utah Specie Legal Tender Act and the elimination of all taxes on gold and silver. UPMA offers accounts denominated in U.S. minted gold and silver dollars. The company also recently released the “Utah Goldback.” UPMA describes it as “the first local, voluntary currency to be made of a spendable, beautiful, physical gold.”

Constitutional tender expert Professor William Greene said when people in multiple states actually start using gold and silver instead of Federal Reserve Notes, it could create a “reverse Gresham’s effect,” drive out bad money, effectively nullify the Federal Reserve, and end the federal government’s monopoly
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Old 02-13-2020, 07:03 AM   #43
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Love to see that Wyoming is following Texas' lead in building a repository, but Professor Greene must know that a "reverse Gresham's effect" is never going to happen until Federal taxes (sales and capital gains) on precious metals are undone.
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