Texas to issue a gold backed crypto?

Unca Walt said:

All correct above -- my reference was that since folks like me have long been buying at non-reportable levels (under $10K/time). All those like me (and there are many) can use PM's without Gummint oversight. Buying a Tesla or something would be different...

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pmbug said:

... First the bill has to pass and become law. ...

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Many legislative sessions are starting this week, including in Texas. While there was an intense debate over who would win Speaker of the House, Rep. Dustin Burrows (R-Lubbock) won with 85 votes, exceeding the 76 votes needed to win. There will be continued debate about how this win happened, given that Rep. David Cook (R-Mansfield) had a majority of Republicans (52%), and 58% of the votes for Burrows were by Democrats (see chart below and this article by The Texan).



Will Democrats will run the Texas House?
We’ve seen how that turned out, with Democrats contributing to wins by former Speaker Joe Straus for years. It's terrible for fiscal conservatives! But could this time be different with Speaker Burrows, who tends to be more fiscally conservative and willing to discuss key reforms?
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pmbug said:

It's back...

Texas Bills Would Establish 100% Backed Gold and Silver Transactional Currency | Tenth Amendment Center

Under the proposed law, the Texas Comptroller would issue gold and silver specie (coins) through the Texas Bullion Depository and also establish gold and silver transactional currency defined as "the representation of gold and silver specie and bullion held in the pooled depository account."

blog.tenthamendmentcenter.com

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Lawmakers passed more than 1,200 bills during the 89th Texas Legislature, nearly 800 of which were sent to the governor in the last 10 days of the 140-day session, which wrapped up Monday.

Now that legislators have gone back to their districts to turn their attention back to their families and, for some, political campaigns, the fate of some of the most critical bills they passed — including the next state budget — is in Republican Gov. Greg Abbott’s hands.

Here are six things to know about what Abbott can do next.

What are his options?

The Texas Constitution allows the governor to veto legislation, sign it, or let it go into law without his signature. A bill does not need his signature to become law, but Abbott often will hold signing ceremonies as a way to publicly endorse a new law as one of his priorities.
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Abbott has until 11:59 p.m. on June 22 — that’s 20 days after the session ends — to veto items in the budget or veto bills that passed in the last 10 days of the session. He has the same deadline to sign bills.

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