Are You Feeling the Impact of Inflation?

The Constitution has the answer!

Imagine your state offering a gold-based currency you can spend that keeps up with inflation! It can happen with your support!

Just Another Way to Pay

Legislation filed in Florida

HB 697 - State Legal Tender and Bullion Depositor and HB 699 Privacy Companion. Led by Rep. Doug Bankson and Sen. Rodriguez with support from Sen. Baxley and Rep. David Borerro.

Imagine opening an account, entering your information, and conveniently transferring a portion of your money into gold and silver easily.

  • Then when you go to a restaurant, use a debit card to pay for your meal in gold, rather than fiat (Rederal Reserve Notes) money.
  • 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 adn silver account comes with the benefits being legal tender.

In Texas for example there is an the existing Bullion Depository together 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.

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!

Click the ACTIVE STATES BUTTON IN menu bar to see the ones currently considering legislation.

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

The dollar has lost two-thirds of its value in the last 40 years. Now, the dollar is a strong currency compared to the other currencies in the world. But that’s honestly terrible.

Texas Transactional Gold

With Legal Tender State Legislation, using gold every day is simple. It is just another way to pay!

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

Legislation should allow any citizen, business, or legal entity to utilize an offical Bullion Depository (TBD) to buy, sell, or store their own gold and silver. By using existing debit card technology, your constituents can make everyday purchases or pay bills with gold or silver. Everyone can participate if they desire. (Left, Right, Center, Wealthy, or not!) A state would earn standard fees already paid by merchants. Other states are interested! Participation is optional. It is just another safe, secure way to pay!

Why is this important?

Gold and silver have been a stable source of currency for centuries. They are the fairest form of money. Inflation is hurting many these days, and they are looking for solutions. This is the answer. This is your opportunity to help bring Wall Street-level diversification to everyday Americans.

Legislation gives the authority to the Treasuer or Comptroller of a state to monetize and democratize the owning and spending of gold or silver, helping 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 help in Switzerland. We think it would be great for Texans to have their gold and silver in Texas! You can also see a one-minute explainer video to see how it works. Bringing it to Texas 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 actually digital any more than a debit card is digital. It is electronic just like what we all use already.

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 spend it when needed! Anyone who can afford a checking account will be able to “get in.” 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, anyone who wants to participate can do so by simply opening an account at the TBD. It would be similar to opening a bank account.

How can you compete with credit cards that give miles, points, 30 days cash flow, payment options, etc.?

The intention is not to compete with credit cards. This is a debit card. However, there are many advantages to gold-based money including potential inflation protection. Individuals can still use their credit cards if they’d like. But when it comes time to pay the credit card bill, they could pay it with gold holdings rather than from their traditional checking account. That way they get both the perks and the security of having gold and silver-based money in Texas.

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 AND the state. The state can make significant revenue from transaction fees - already paid by merchants, storage, and conversion fees. The Texans seeking passage of this bill want to see all their citizens 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 come and pick it up, or withdraw their balance by converting back to US Dollars. Texas for example has a Bullion Depoisitory, other states may use state chartered banks or some other facility.

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

Take Texas for example it is the 8th largest economy in the world, this is a way to pay anywhere in the world. The credit card companies will convert it on the fly just as they do Dollars, Pounds and Euros. TBD debit card holders could pay bills, buy coffee, entertainment, travel. You name it!

Merchants will be able to accept this form of payment, as they do now with other debit and credit cards.

Is this making a state into a bank?

No. This would just be another monetary service. Texas for example already has a depository for gold. Adding a debit card technology on top simply provides people functional access to it. The depository will be able to offer Texas-based money (actually gold and silver) and work with banks. The depository will not offer the wide array of services that banks currently offer. Furthermore, state banks could offer either “paper accounts” based on the US dollar or gold accounts (based on Texas Transactional Gold and Silver). We believe many banks will want to offer both.

Does this mean that a state needs to buy gold to back this currency?

NO, states will NOT own the gold or silver that backs this currency. Legislation should provide for purchases and sales on the open market through the depository rather than from reserves held in the depository. This will be gold owned by the individual, business, or legal entity. The value of the gold a person has on deposit is the amount they can spend via their GOLD/SILVER debit card.

Will there be tax implications?

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 as tender.

For many, it will be the first time they have had access to gold and the easy ability to spend it. Legislation makes gold and silver function as tender. Gold and silver then can easily be transactional allowing your constituents and everyone else who wants it to have all the benefits of owning gold or silver and at the same time have a great way to make secure payments.

Is this legal?

Yes! Using gold and silver is a State Right secured in the U.S. Constitution Article 1, Section 10.  For example the Texas Bullion Depositiry is already authorized by TX Gov. Code Sec. 2116 which has numerous supportive provisions ( There are several US Supreme Court rulings that support this state right.

I don’t know anything about the Texas Bullion Depository, what can you tell me?

A lot! But you can go read about it here:

Is the gold and silver safe and /or insured at the Texas Bullion Depository?

Yes, the Texas Bullion Depository is currently insured by Lloyd’s of London. But don’t take our word for it! You can learn more here.


It is true that gold and silver prices fluctuate and there is a risk of lost purchasing power when you own gold or silver. People should keep that in mind when converting to a gold-based currency. But throughout history, gold has never been worth zero. Further, the US dollar also has risks and fluctuates relative to other currencies as well as goods and services. We feel it beneficial to have the opportunity to have transactional gold in addition to paper money.