Texas Proposes Bill To Have Gold Backed Digital Currency
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April 10, 2023 Posted in: Patriots
Will Texas Have Its Own Gold Backed Currency?
The Senate in Texas has recently come out with a bill that would give Texas the ability to have a gold backed, digital currency.
This proposal would challenge the Federal Reserve’s monopoly on the US dollar and also create a potential rival to the central bank digital currency (CBDC).
Senate Bill 2334, is entitled “Digital Gold Currency Act” that aims to establish a digital currency backed by gold in the state of Texas.
The bill lays out the rules and regulations necessary for the establishment and administration of digital currencies, including purchase and issuance, redemption for money or gold, as well as gold held in trust to back these digital assets.
The comptroller would be empowered to create rules and enter contracts for the administration of the chapter, guaranteeing security for digital currency.
A trustee would then be appointed to hold any gold purchased to back it. Furthermore, the bill allows a fee for purchasing or redeeming the digital currency.
You can read the full text of the bill here.
Also, the Texas House created a companion bill, House Bill 4903.
What do you think?
Should these bills be passed?
And if you’re looking to turn your dollars into gold, you can learn more here.
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Absolutely support anything that provides privacy like we have with paper money and gives us an alternative to a Central Bank Digital Currency (CBDC).
How about Gold backed cash….it worked 1776-1933…. think about it
Trust in all global governments is lossed. Only paper and coin currency 100% backed by hard assets should be trusted. Digital = track, trace and total control by the puppet masters.
Something like this will NEVER pass in Washington for one reason: because Washington is totally addicted to the “free” money spicket at the Fed, and thus totally at under its thumb and Trump isn’t going to change this.
I am a long time member of the Texas Nationalist Movement and advocate for Texas independence (from Washington), and have often said that an integral cog in gaining this is to first become independent of the Federal Reserve and its fiat money system.
La divisa Yuan ya esta respaldado por Oro y Rublo..en Rusia.asi que eso ya es el presente …como funciona ya el mercado…no veo problema.
Sounds plausable enough but the moment you mention digital currancy in any form especially in these days where we would not trust any Government body, how do we know that it is another attempt to bring in DC. For example you dont mention physical money like gold coins. If this means , in any way a cashless society, then forget it.
I would want cash too. Paper Cash backed by gold or ilver.
I understand Trump has this in place for the whole country. We just have to get rid of the current regime first.
Will this be in line with the rest of the countries that have already signed and started their gold backed currencies? I have heard that Texas is the only state in the USA that has applied for the gold-backed digital currencies for worldwide use. I have already moved most of my monies into gold and silver in preparation for this to happen!