Individual US States push for gold and silver legalization

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Update.

 
Dear Governor DeSantis,
Please repeal the sales tax on gold and Silver precious metals. I realize that tax applies to amounts less than $500, but we should not tax at any amount.
Sincerely, Joe Taxpayer



P.S. time to write the Governor again.
 
SALT LAKE CITY, Utah (May 3, 2024) – On Wednesday, a Utah law creating a process for the state to invest in and hold precious metals in reserve accounts went into effect. This sets a foundation for the Beehive State to achieve more financial independence and take a small step toward undermining the Federal Reserve’s monopoly on money.

Rep. Ken Ivory introduced House Bill 348 (HB348) on Jan. 19. The Senate approved HB348 by a 25-2 vote. The House approved the bill by a vote of 52-18. With Gov. Spencer Cox’s signature, the law went into effect on May 1.

Holding gold and silver will allow the state of Utah to shield its assets and hedge against rapidly depreciating Federal Reserve notes. Adding gold and silver in reserve could also create a pathway for Utah to maintain financial independence should the U.S. dollar collapse, a very real possibility as the world moves away from the greenback as its reserve currency.


Update:

 
"The payment system would use “gold or silver vaulted within the state,"

Did Utah authorize the development of a State owned/managed vault, or are they planning to contract with a private vault? Either way, nice to see Utah making some headway with these initiatives.
 
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