Transactional Gold

IMAGINE OPENING AN ACCOUNT, ENTERING YOUR INFORMATION, AND CONVENIENTLY TRANSFERRING A PORTION OF YOUR MONEY INTO GOLD AND SILVER.

Then when you go to a restaurant, use a debit card to pay for your meal in gold, rather than fiat money (Federal Reserve Notes).
It sounds like science fiction, but it is available today through commercial applications like Gold Debit Cards...but the gold is typically held in Switzerland.
Having a state-based gold and silver account comes with the benefits of legal tender.
It is NOT CBDC (Central Bank Digital Currency) with all the possible privacy and control concerns.
It is not at risk from attacks on the American dollar by Russia, China, the BRICS nations, or others.
It is a place for everyday Americans to protect their finances! Gold is a natural hedge against inflation.

In Texas for example there is an existing Bullion Depository . Combine this with existing commercial applications, you get gold-based, state-backed, constitutional money that works in a modern economy! This could be done in your state by working with Texas or creating their depository system.

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What is this again? Why am I looking at this? (Short answer)

Transactional gold and silver legislation should allow any citizen, business, or legal entity to utilize an official Bullion Depository to buy, sell, or store their own gold and silver.

By using existing debit card technology, users can seamlessly make everyday purchases or pay bills with gold or silver.

Participation is optional. It is just another safe, secure way to pay!

Why is this important?

Inflation is hurting many these days, and they are looking for solutions. Gold and silver have been a stable source of currency for centuries. They are the fairest form of money acting as a natural hedge against inflation.

This is your opportunity to help bring Wall Street-level diversification to everyday Americans. You no longer need to be rich to own gold and silver.

Legislation gives the Treasurer or Comptroller of a state authority to monetize and democratize the owning and spending of gold or silver as legal tender. This is optional like other modern payment system, but helps people preserve their buying power.

Is this a brand-new concept? Has it been done before?

This is not a new concept and is being done right now in a variety of commercial applications.

Most require gold to be held in Switzerland. We think it would be great for you to have your gold and silver in YOUR STATE!

You can watch this one-minute explainer video to see how it works.

Bringing it to the States offers both practical and legal advantages.

Isn’t this just another crypto or digital currency with all its complications?

No, this is not a crypto at all, and it is not digital. This is a transactional gold and silver debit card, and it works like any other debit card.

The difference is this card is linked to your gold and silver held in a state-authorized secure vault.

Now you can spend gold and silver as legal tender electronically anywhere that accepts MasterCard (or an equivalent payment processing system.)

Is this equitable or just another way for the rich to get richer? How can the average person use it when they cannot afford to get in?

Every American, regardless of economic class, deserves the option to have money held in precious metals as a protection against inflation. Now they can hold gold and silver and spend it when needed!

Anyone can easily participate; in fact, they can buy as little as a few dollars worth of gold or silver.

We’ve seen the success of commercial versions such as GlintPay, and they have very low minimums, sometimes below the minimum required for a checking account.

Is it complicated to do?

NO, it is easy!

Anyone who wants to participate can do so by simply opening an account at the state's bullion depository. It would be similar to opening a bank account.

This seems too good to be true. What is the catch? Is there some organization that is pushing this to make private money on it?

No catch. Those who benefit financially from this legislation are people from every economic status as well as the state.

The state can choose to generate significant revenue from transaction fees - already paid by merchants, storage, and conversion fees.

The legislators seeking passage of this bill want to see all their state as well as their constituents benefit.

What if depositors want physical possession of their own gold?

Simple...they can remove it anytime they want from a designated depository. They can either have their gold sent directly to them or withdraw their balance by converting back to US Dollars.

Texas, for example, already has a Bullion Depository. Other states might opt to utilize the Texas depository, state-chartered banks, another facility, or eventually establish their own state depositories when it becomes financially viable.

What kind of things can you purchase with this new instrument of the Bullion Depository, this new way to pay?

Take Texas for example... it is currently the 8th largest economy in the world. Texas Bullion Depository debit card holders could pay bills or buy coffee, entertainment, travel...anything! You name it!

The credit card companies will convert it on the fly just as they do Dollars, Pounds, and Euros. Merchants will be able to accept this form of payment, as they do now with other debit and credit cards.

This is "just another way to pay" anywhere in the world.

Does this mean that a State will need to buy gold or silver to back this currency?

NO, states will NOT own the gold or silver that backs this currency.

This gold or silver will be owned by the individuals, businesses, or legal entities. The value of the gold held on deposit in their segregated gold account is the amount that can be spent via their GOLD/SILVER debit card.

Will there be tax implications?

This legislation makes gold and silver function as legal tender.

Once gold and silver become transactional, it is easily spent, enabling users to enjoy all the advantages of owning gold or silver while also providing a secure method for making payments.

For many, it will be the first time they have had access to gold and silver along with the easy ability to spend it.

Upon passage, be sure to check with a professional tax advisor or accountant to determine any tax implications. We believe there may not be capital gains or losses when using gold and silver as tender. In fact, some aspects regarding tax implications can be addressed within the legislation.

Is this legal?

Yes! The use of gold and silver is a STATE RIGHT, as guaranteed by Article 1, Section 10 of the U.S. Constitution.

For instance, the Texas Bullion Depository is sanctioned under Texas Government Code Section 2116, which includes various supportive provisions (https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2116.htm).

Multiple rulings by the U.S. Supreme Court have upheld this right of the states.

What if the price of gold or silver goes down?

Gold and silver prices do indeed fluctuate, and owning them carries the risk of losing purchasing power. This is important to consider when switching to a gold-based currency. However, gold and silver have never been worthless throughout history.

Similarly, the US dollar also faces risks and fluctuates in value compared to other currencies and goods and services. The U.S. dollar has lost 98% of its purchasing power since 1971 when it was removed from the gold standard, but gold has maintained its value...making it a natural hedge against inflation.

We believe it is advantageous to have the option of using gold or silver for transactions alongside paper money.

Combine existing technology with US Constitution Article 1, Section 10 and you have what we call Transactional Gold – a debit card with fully electronic features like Apple Pay or Samsung Pay but issued by a state.

The dollar has lost over 90% of its purchasing power since getting off the gold standard in 1971.

Now, the dollar is a strong currency compared to the other currencies in the world...But that’s honestly terrible.

Active States

With Legal Tender State Legislation, using gold every day is simple.

It is just another way to pay!

FEATURED POSTS

Wyoming Passes Bill for State to Invest in Precious Metals

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Frequently Asked Questions