Arizona Governor Doug Ducey recently signed into law HB 2014, a bill to eliminate capital gains taxation on gold and silver coins. It is the latest state to take action to renew the use of gold and silver as money, following legislative efforts in Utah, Oklahoma, and Texas.
No Pro-Gold Legislation at the Federal Level
The only recent pro-gold legislation at the federal level was the Free Competition in Currency Act that was periodically introduced by Congressman Ron Paul. That bill was last introduced by Congressman Paul Broun in 2013, but has not been introduced since. The Free Competition in Currency Act sought to remove three major obstacles standing in the way of using gold and silver as money.
Federal Legal Tender Laws
Federal law declares that United States coins and currency, including Federal Reserve…
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