Legal Tender Archives

Texas Proposes Gold and Silver as Legal Tender that Will Weaken the Federal Reserve’s Monopoly

March 19, 2023 John Birch Society and EIN News 6

If enacted, SB 1558 would officially recognize gold and silver coins as legal tender and eliminate capital-gains taxes on gold and silver — thus bringing Texas closer to constitutional compliance and treating gold and silver as money.

Kansas Bill Would Make Gold and Silver Legal Tender While Pushing Back Against CBDC

March 3, 2023 John Birch and Peter Schiff 5

Kansas Legal Tender Act would allow gold and silver coins as legal tender and eliminate capital-gains taxes on gold and silver, treating the precious metals as money. It will also help Kansas avoid the federal government’s planned Central Bank Digital Currencies (CBDC), which severely threaten freedom.

In a World First, El Salvador Makes Bitcoin Legal Tender

June 10, 2021 Reuters and Yahoo Finance 2

El Salvador’s legislature voted this week to accept Bitcoin as legal tender alongside the US dollar, which is the country’s official currency. Critics say that El Salvador’s acceptance of a competing currency is a hedge against the US dollar that has massively increased its money supply, which will cause inflation.