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The End Of Fiat? Multiple States Move To Recognize Gold As Legal Currencythefreethoughtproject.com/money/the-end-of-fiat-multiple-states-move-to-recognize-gold-silver-as-legal-currency
582 sats \ 16 comments \ @oliverweiss 8 Mar econ
as of this writing the Tenth Amendment Center reports the states of Alabama, Arizona, Florida, Idaho, Iowa, Michigan, Missouri, Montana, North Dakota, Oklahoma, Tennessee, and Wyoming are all in the various stages of enacting bills that would recognize gold and silver as valid legal tender as the constitution stipulates, with more states likely to follow.
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49 sats \ 2 replies \ @Undisciplined 8 Mar
The partial end of mandatory fiat, at least.
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62 sats \ 1 reply \ @Satosora 8 Mar
Taking one brick out at a time will weaken the tower. One step at a time and it will topple.
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0 sats \ 0 replies \ @Undisciplined 8 Mar
That's the hope
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30 sats \ 0 replies \ @JesseJames 8 Mar
About time, give people choice, let them be the judge...
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30 sats \ 9 replies \ @Satosora 8 Mar
Goldbacks are an interesting concept.
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32 sats \ 5 replies \ @oliverweiss OP 8 Mar
Indeed, I would prefer bitcoin as an alternative to the current fiat system though.
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30 sats \ 1 reply \ @Undisciplined 8 Mar
I've talked to some of the libertarians who have pushed through state gold legislation. They would have liked to include bitcoin, but they thought getting gold/silver through would be more feasible, because those two are mentioned in the constitution as legal tender, as well as being more familiar to conservatives.
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34 sats \ 0 replies \ @Satosora 8 Mar
I feel that as we push and make gold and silver legal tender, bitcoin will soon follow. People will have to open their eyes eventually.
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0 sats \ 2 replies \ @Satosora 8 Mar
I think we all do, but what way is the best to incorporate it so that everyone uses it?
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10 sats \ 1 reply \ @oliverweiss OP 8 Mar
Yeah, a million dollar sats question.
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30 sats \ 0 replies \ @Satosora 8 Mar
It is just a matter of time before other people realize. Some people are pushing for it to be made into legal tender. Just a matter of time before it happens. Gold and silver might come first though, because it is more easily understood.
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10 sats \ 2 replies \ @oliverweiss OP 8 Mar
From what I googled, Goldbacks are legal tender in four states: Utah, Nevada, Wyoming, and New Hampshire.
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0 sats \ 0 replies \ @stack_harder 17h
how many people and businesses know what they are tho? i don't think i could get over the sus factor of having to validate gold and precious metals
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0 sats \ 0 replies \ @Satosora 8 Mar
I think it was being pushed in montana, too. I havent kept up with who accepts it, but I know they are still printing/making them. I think it is a novel idea.
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0 sats \ 1 reply \ @space_karen 9 Mar
This wont do much to improve precious metals consumer viability versus bitcoin. What is needed is better retail infrastructure support for precious metals.
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0 sats \ 0 replies \ @NakamotoArchives 9 Mar
Those are essential to boosting consumer confidence.
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