22 Thoughts? Texas Committee Passes Bill To Create 100% Reserve Gold And Silver-Backed Transactional Currencies (www.zerohedge.com) posted 1 year ago by user20461 1 year ago by user20461 +22 / -0 Texas Committee Passes Bill To Create 100% Reserve Gold And Silver-Backed Transactional Currencies ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero 31 comments share 31 comments share save hide report block hide replies
Personally, I think it would be a great idea if it wasn't done by the government.
At least it'll be a better store of value than fed bucks, but you should still keep money aside for when you plan to make purchases.
Who else could do it?
People could choose to use Bitcoin or Monero. However, constitutionally, Gold and Silver are the only legal tender that states are allowed to mint, if I'm not mistaken. The Texas bill would be constitutional in that sense.
You are mistaken.
According to the Constitution, only Congress is given this authority. The power is not given to the states.
See Article I, Section 8, Clause 5 then Article I, Section 10, Clause 1.