Tennessee Considering Bills Restoring Gold and Silver as Sound Money

[Swordsmyth]

If two bills offered for consideration in the Tennessee legislature become law, gold and silver will be a step closer to being restored to their rightful place as sound money and legal tender.
A pair of companion measures offered by Representative Ron Gant and Senator Dolores Gresham in the Tennessee House of Representatives and Senate respectively, would prohibit state sales and use tax from being collected on the sale of platinum, gold, or silver bullion.

More at: https://www.thenewamerican.com/usne...ills-restoring-gold-and-silver-as-sound-money

 

[Stratovarious]

I totally agree, been supporting this, same as many others for 30 years.
My question though is the timing; Gold is around $1300/ounce I believe,
is there never going to be a correction, are they just going to try and ?
show us how bad asset based currency is, or are they sincere in replacing
fiat currency.......
I don't follow the markets these days, but I'm guessing Silver is not seen
the same volatile climb as Gold.

 

[DamianTV]

This needs to go thru!

 

[Zippyjuan]

So like the other states which have passed similar bills, it basically eliminates the sales tax on gold and silver bullion sales. Some states passing such laws didn't have tax on them in the first place.

would prohibit state sales and use tax from being collected on the sale of platinum, gold, or silver bullion

 

[pmbug]

* bump *

Tennessee's bullion depository bill in the state House was renumbered (HB1480) and deferred until next year. The companion bill in the state Senate (SB0150) is waiting for a committee to process it.

Tennessee passed (and the Governor signed) HB1479 which allows the State to buy and sell physical gold and precious metals and store them "at the state depository."

 

[acptulsa]

Good news.

But I still can't believe New American talking about "...gold and silver will be a step closer to being restored to their rightful place as sound money..." As if any human force was ever found by any bank or government that could stop gold and silver from being sound money.