OK but if they actually have a piece of physical silver and gold for each money, then why not just let us trade in silver and gold? Why does Texas want possession of the physical gold and we get proxies? Something about putting eggs in one basket...
So it is coin and digital. “The legislation would require the state comptroller to establish and provide for the issuance of gold and silver specie and also establish digital currencies that are 100% backed by gold and silver, and 100% redeemable in cash, gold, or silver.”
The specie are coins / physical money. I think the digital part of the bill is so that it is in agreement with the constitution. The constitution says only gold and silver backed currency in states can be created.
OK but if they actually have a piece of physical silver and gold for each money, then why not just let us trade in silver and gold? Why does Texas want possession of the physical gold and we get proxies? Something about putting eggs in one basket...
So it is coin and digital. “The legislation would require the state comptroller to establish and provide for the issuance of gold and silver specie and also establish digital currencies that are 100% backed by gold and silver, and 100% redeemable in cash, gold, or silver.” The specie are coins / physical money. I think the digital part of the bill is so that it is in agreement with the constitution. The constitution says only gold and silver backed currency in states can be created.