OKLAHOMA STATE LEGISLATURE
Are you feeling the impact of inflation?
OKLAHOMA HAS THE ANSWER
It can happen with your support!
Current Legislative Action
Bill Sponsors
Senator David Bullard (SB33, HB1197, HB1199)
Representative Cody Maynard (SB33, HB1197, HB1199)
Senator Dusty Deevers (SB581)
The Latest News...
Many bills on gold in play this session!
HB1197 Authorizes the State Treasurer to create, operate, or contract for the operation of a depository and issue transaction cards stipulating certain deposits and transactions be considered the exchange of legal tender; it also authorizes account holders issued a transaction card to make transactions debited against the value of deposits. Cody Maynard has been a fantastic advocate for this bill. Senator David Bullard has effectively guided these bills in the Senate.
HB1199, as introduced, establishes a definition for specie. Specie is considered legal tender when it is issued by the U.S. government or deemed by an Oklahoma court to be legal tender. It can be recognized to pay debts; however, no person can be compelled accept specie as legal tender unless agreed to through a contract. The measure provides that species cannot be considered personal property for taxation or regulatory purposes and no person should be subject to tax when exchanging, selling or purchasing specie.
Both bills passed in the House 77-15 and 73-15. They were originally assigned to the Senate Budget and Finance Committee, but were switched to the Retirement and Government Resources Committee where they passed out of committee.
UPDATE: 04/17/2025 Moved to the full Senate for a vote.
Recent News and Updates
Oklahoma House Unanimously Passes Constitutional Currency ...
Oklahoma Senate Bill 284: Expanding Gold and Silver as Legal ...
Oklahoma Declares Gold and Silver Legal Tender
Key Resources
Pirate Money Book
The book is about money, the wealth gap, the Great Reset, Central Bank Digital Currency, and Chinese efforts to displace the American dollar. More importantly, though, it is about implementing a solution to provide Economic Justice for real people facing the severe challenges headed straight toward us all.
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Oklahoma Transactional Gold and Silver Flyer
Get the word out with our Oklahoma customized flyer.
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Pirate Money Treasure Map
This Treasure Map is an incredible tool for explaining the history of our monetary problem, and the Transactional Gold and Silver solution!
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Frequently Asked Questions
What is this?
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?
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?
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?
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?
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?
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?
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?
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?
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?
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?
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?
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.
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