An Oklahoma state representative introduced legislation this week that would enable the State Treasurer to protect Sooner State funds from inflation and financial risk by holding physical gold and silver.
Introduced by Rep. Sean Roberts, HB 3681 would include physical gold and silver, owned directly, to the list of permissible investments that the State Treasurer can hold. Currently, Oklahoma money managers are largely relegated to investing in low-yield, dollar-denominated debt instruments.
Other than Ohio, no state is currently known to hold any precious metals, even as inflation and financial turmoil accelerate globally. Yes, Oklahoma’s own investment guidance prescribes safety of principal as a primary objective for investment of public funds.
“Currency debasement caused by federal monetary and fiscal policies has created an imminent risk of a substantial erosion in the value of Oklahoma’s investment holdings,” said Jp Cortez, policy director of the Sound Money Defense League.
“With most taxpayer funds currently held in debt paper carrying a negative real return, Oklahoma would be prudent to hedge today’s serious inflation risks with an allocation to the monetary metals.”
HB 3681 simply adds the authority to hold physical gold and silver bullion directly – and in a manner that does not assume the counterparty and default risks involved with other state holdings. Rep. Roberts’ measure does not grant authority to buy mining stocks, futures contracts, or other gold derivatives.
Additionally, HB 3681 prescribes safekeeping and storage requirements. The State Treasurer would hold the state’s bullion in a qualifying, insured, and independently audited depository, free of any encumbrances and physically segregated from other holdings.
Oklahoma has become a sound money hotspot, already earning 11th place on the 2021 Sound Money Index.
The Sooner State ended sales taxes on purchases of precious metals long ago. This week, Sen. Nathan Dahm introduced SB 1480, a measure to remove Oklahoma state income taxes from the exchange or sale of gold and silver sales.
The Sound Money Defense League and Money Metals Exchange strongly support these pro-sound money measures in Oklahoma and are actively working to ensure their success. Tennessee, Mississippi, Kentucky, and Alabama are just a few of the other states fighting their own sound money battles in 2022.
Photo by Dash Cryptocurrency on Unsplash. Article cross-posted from Activist Post.
Massive Sale on beef. Frozen for today. Freeze-dried for tomorrow. Promo code “jdr” at checkout for 15% off! WholeCows.com
They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We have a Giving Fuel page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.
Thank you and God bless!
JD Rucker
Covid variant BA.5 is spreading. It appears milder but much more contagious and evades natural immunity. Best to boost your immune system with new Z-Dtox and Z-Stack nutraceuticals from our dear friend, the late Dr. Vladimir Zelenko.
Until I saw the check for $8819, I did not believe that my cousin actualy taking home money in their spare time from there computer.KJT. there uncle started doing this for only nine months and a short time ago paid for the on there mini mansion and bourt a brand new Ariel Atom.
read here………………………………. http://webwork01.tk/
Scam is every where but don’t worry , every one is not a cheater, very reliable and profitable site. Thousands peoples are making good earning from it. For further oqa detail visit oww the link no instant money required free signup and information Type a message…. https://extrasalaryhere1.blogspot.com/
I start receiving every month this income just by working 1 or 2 hrs a day using mobile or any kind of PC. i have YHN made $16429 last month by using this online job. just go to this
website for more info.=-=-=-> http://jobformoney.tk