SB735 the Silver & Gold Bill has passed the MO Senate

 

SB 735, The Constitutional Money Act passed with 21 votes in Missouri in the Senate.

It’s off to the house! If it passes it will be the most comprehensive Sound Money Bill in the country!

— Citizens for Sound Money (@4SoundMoney) April 29, 2024

 The Missouri Senate today passed Sen. Bill Eigel and Sen. Mike Moon's Constitutional Money Act. SB735 passed 21-10. It now moves to the Missouri House to be considered. The Tenth Amendment Center has the story HERE.

From the article:

"Under the proposed law, gold and silver would be accepted as legal tender and would be receivable in payment of all debts contracted for in the state of Missouri. The state would be required to accept gold and silver for the payment of public debts. Private debts could be settled in gold and silver at the parties’ discretion.

The Director of the Department of Revenue would be tasked with “promulgating rules on the methods of acceptance of specie legal tender as payment for any debt, tax, fee, or obligation owed.”

Practically speaking, this would allow Missourians to use gold or silver as money rather than just as mere investment vehicles. In effect, it would put gold and silver on the same footing as Federal Reserve notes."

And more here, but do read the whole article:

"The United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” Currently, all debts and taxes in Missouri are either paid with Federal Reserve Notes (dollars) authorized as legal tender by Congress or with coins issued by the U.S. Treasury — very few of which have gold or silver in them. Passage of SB735 would allow Missourians to pay state obligations with gold and silver.

The Federal Reserve destroys this constitutional monetary system by creating a monopoly based on its fiat currency. Without the backing of gold or silver, the central bank can easily create money out of thin air. This not only devalues your purchasing power over time; it also allows the federal government to borrow and spend far beyond what would be possible in a sound money system. Without the Fed, the U.S. government wouldn’t be able to maintain all of its unconstitutional wars and programs."

For more information on the Silver and Gold bill go HERE (hours 2 and 3), HERE, and HERE.

The Missouri Freedom Initiative has been working alongside Daniel Diaz of Citizens for Sound Money to pass the Gold and Silver bill.