North Carolina is the latest U.S. State to take up the charge towards sound monetary independence. As all of us in RV/GCR Land watch and wait for the logical conclusion of the Global Fiat Financial System, individual U.S. States continue on the path towards their own Gold Monetary Standards. Do the State’s fiscal and legislative governments know something that the Federal Reserve and US Treasury continues to ignore?
With the recent vote in favor of studying an in-state bullion depository, the state is joining a growing movement among US states seeking protection from the volatile federal fiat US dollar. As states like Texas, Ohio, and Tennessee have already taken steps to secure their economies with gold, it’s time to ask: is it time for North Carolina to take control of its financial destiny? Find out why the push for state gold standards is gaining momentum and what it could mean for the future of the USA economy.
What You Will Learn from this Article:
- The recent vote in favor of studying an in-state bullion depository in North Carolina.
- The growing movement among US states towards establishing independent gold standards as protection from the federal fiat US dollar.
- How states like Texas, Ohio, and Tennessee have already taken steps to secure their economies with gold.
- The reasons why diversifying investment portfolios with precious metals like gold and silver can safeguard against inflation, debt defaults, and stock market volatility.
- The potential benefits of establishing a gold bullion depository for North Carolina and other states.
- The introduction of bills in multiple states to restore the use of gold and silver as legal tender.
- The significance of financial independence and the potential consequences of relying solely on the federal fiat US dollar.
- The next steps for North Carolina’s proposed legislation and its potential impact on the state’s financial future.
- The broader implications of the state gold standards movement and its impact on the US economy.
In a definitive move towards financial independence, the North Carolina House of Representatives has voted in favor of studying the establishment of an in-state bullion depository. This decision is part of a larger trend among several US states, including Texas, Ohio, Missouri, Mississippi, and Oklahoma, to protect themselves from the uncertainties of the federal fiat US dollar by establishing independent gold standards. With Tennessee already signing a law allowing the purchase and storage of physical gold and silver, it is clear that states are recognizing the importance of diversifying their investment portfolios and safeguarding against inflation, debt defaults, and stock market downturns.
The Need for Financial Security
Like many other states, North Carolina’s reserve funds are heavily exposed to low-yielding debt paper, such as corporate bonds, municipal bonds, CDs, treasuries, and money market funds. While these instruments may appear stable, they carry risks such as inflation and the erosion of real value over time, compounded by negative real interest rates. Recognizing the need to protect against these risks, North Carolina has prioritized exploring the benefits of establishing a gold bullion depository.
The Power of Gold and Silver
By including an allocation to physical gold and silver in their investment portfolios, responsible states can enhance their ability to weather financial uncertainties. Precious metals have historically served as a safeguard against inflation, debt defaults, and stock market volatility. Not only do they provide a hedge against these risks, but they have also shown to enhance investment returns while reducing overall volatility. With the potential for economic uncertainty on the horizon, it is prudent for states like North Carolina to consider the advantages of incorporating gold and silver into their financial strategies.
A Growing Movement
North Carolina is not alone in its pursuit of sound and constitutional money. This year, several other states, including Alaska, Iowa, West Virginia, South Carolina, Maine, Missouri, Minnesota, Tennessee, Montana, Idaho, Wyoming, and Kansas, have introduced bills to restore the use of gold and silver as legal tender. This movement reflects a growing recognition among states that relying solely on the federal fiat US dollar may not provide the necessary protection against financial risks.
Next Steps for North Carolina
House Bill 721, introduced by Rep. Mark Brody, has already received favorable support in the North Carolina House of Representatives. The bill, which calls for a study into establishing an in-state bullion depository, was approved by a vote of 73-40. It will now undergo a hearing before the Senate Rules and Operations committee. If successful, North Carolina will join the ranks of states taking proactive measures to secure their financial future.
What It Means
As states like North Carolina seek greater financial independence, the establishment of independent gold standards through in-state bullion depositories has emerged as a compelling solution. By diversifying their investment portfolios with precious metals, states can protect against inflation, debt defaults, and stock market volatility. The growing movement for state gold standards, exemplified by North Carolina and other states, highlights the increasing recognition that relying solely on the federal fiat US dollar may not be the most prudent approach. It is time for states to take control of their financial destiny and prioritize the exploration of gold and silver as a means of safeguarding their economies.
Related Posts
Click here learn more about every U.S. States’ legislative activities involving gold and silver as legal tender: Sound Money Defense League
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3 responses to “North Carolina Votes for Gold – Sound Money Movement Continues”
US States recognize gold silver as money,but what about banks?Do they exchange dollars for gold,silver too?They should also,but do they?Or do they follow Fed money policies.
Im not living there so I dont know if you can walk in bank and take in or out gold,silver from banks.
Does someone know how Usa banks following gold legislations?
Banks can hold gold as a full reserve asset (Basel 3 Banking regulations) against liabilities on their balance sheets. Banks are private corporations and are not required or obligated to exchange currency for money. The fundamental definition of a Currency Gold Standard is that the currency is redeemable for a fixed amount of gold but we live under a global fiat currency system.
What about New Hampshire and I think Ohio they made money to represent their own state. Like I think two years ago.