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Florida may go back to the gold standard
Florida Chief Financial Officer Jimmy Patronis has announced a new initiative to explore the feasibility of using gold and silver bullion as legal tender in the state.
Patronis revealed that his office is launching a study to determine how gold and silver could serve as a legal method for Floridians to purchase goods and services. While these precious metals are widely bought as investments, they currently cannot be used for transactions.
At present, 11 states, including Louisiana, Texas, South Carolina, and West Virginia, allow gold and silver to be used as legal tender. Patronis expressed his intention to add Florida to this growing list.
In a statement, Patronis's office described the study as a "major first step" toward adopting gold and silver as an alternative to the U.S. dollar. The statement also noted that such an initiative could help mitigate the "devastating" effects of inflation.
“This is an exciting initiative that has the potential for enormous growth in our state,” Patronis said. “Gold and silver have been trusted assets for thousands of years, and it makes perfect sense to use them as legal tender. I’m launching this study to determine the best way to get it done.”
In addition to addressing inflation, Patronis highlighted specific tax-exempt benefits that would accompany the use of gold and silver:
Gold and silver bullion would not be taxed as personal property.
Purchasing or selling gold and silver would not incur state tax liability.
Exchanging U.S. dollars for gold or silver would not result in state tax liability.
Historically, the U.S. dollar was backed by gold under the "gold standard," a practice that ended nationwide in 1933. The U.S. government ceased exchanging dollars for gold in 1971.
Utah became the first state to reintroduce gold and silver coins as alternative legal tender by passing legislation in 2011. Since then, 10 additional states have followed suit, and Florida could be next in line to embrace this financial alternative.
Previously perceived as a long-term, subtle issue, inflation is now recognized in everyday life. People are struggling to pay rent, with little left over at the end of the month, while grocery prices have doubled and food packaging has shrunk.
This growing awareness has heightened interest in alternatives to the current fiat system.
While we are all optimistic about the coming administration, the damages of decades of financial and economic mismanagement are becoming more apparent. People are increasingly feeling the effects of inflation. More importantly, they are increasingly feeling the value of gold. It is that one asset has a global value, across generations, regardless of the country’s economic condition.
The trend toward gold is not a fleeting phenomenon but a continuation of a 50-year movement. During this period, the U.S. dollar has lost over 99 percent of its value. Gold, on the other hand, gold has gone up 1446.67% since, more than beating inflation.
That’s why even investors are recognizing this trend. Billionaire investor Ray Dalio, for instance, has encouraged investors to shift focus toward “hard money” such as gold. Similarly, Blackrock’s 2025 global outlook advises investors to consider gold and Bitcoin, citing the division of the world into competing economic blocs and a shift in reserves away from the U.S. dollar and into gold. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
The feel on the streets we citizens know a new rate is coming! Everything is pointing to to this! FRANK: I agree with you. I can feel the rumbling of the earthquake that will bring you your monetary reform, purchasing power. Things are getting very exciting...
Militia Man The next step is to do global transactions against other currencies in dinar and other foreign currencies. They will become similar to foreign currency in International terms. I don't believe it's going to be at 1320 for the dollar. It will not work as a REER. From today, banks are closed and will not open in Iraq until next week...Monday is a national holiday, Army Day...It definitely looks like a timed mechanism in many ways.
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